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Old 05-27-2016   #21
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Cheers, G99

"little over 1/3 of a million". Don't want to rain in your parade, mate, but this is too little compared to what I will get when I decide to retire. And I served for less than 25 years. It will go up quite a bit if I reach 30 years of service (which I don't intend to).

I love San Diego! Very under-rated city compared to its bigger sisters up north (LA and SF). SD is like the step-child of California, for some reason.
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Old 05-27-2016   #22
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The 1/3 of a mill was only for hanging around for 5 years extra as a direct payout. Separate from the retirement pension. Call it a bonus if you will.
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Old 05-27-2016   #23
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0.3 of a million for extra 5 years?

Doesn't compute.
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Old 05-27-2016   #24
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Quote:
Originally Posted by aam1234 View Post
0.3 of a million for extra 5 years?

Doesn't compute.
It's called a drop program. I stuck around for an extra 5 years getting a normal paycheck and they banked for me my retirement that they would have been paying me if I had retired. For me I only had to work an extra 3 1/2 years as I had over 1 1/2 years of sick leave built up that I could apply to my 5 year drop.

With all the other investment and savings I had done over the years, deferred comp, etc. combined with the same kind of planning by the wife we are completely set to live a long, happy retirement.
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Old 09-22-2016   #25
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Two and a quarter years later and I'm still employed. Partly because I'm in the process of buying the house I reside in. It's expensive. Really expensive (think Bel Air or some such).

But that's not the main reason. The main reason is I'm scared of taking that step. My life will change dramatically. I'm scared of that (and yes, I admit, I'm chicken in this situation).
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Old 09-23-2016   #26
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I have been retired for almost 9 months now and I have only one thing to say.

Retirement, EVERYONE should try it once in their lives. It's great.
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I can honestly say that there are two most remarkable men in the world today. Michio Kaku is one and I am the other one. Between us we cover all knowledge.

Kaku knows all that can be known....And I know the rest.


"Yesterday is history, tomorrow is a mystery. Today?
Today is a gift. That is why we call it the present."

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Old 09-23-2016   #27
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Been retired for over six years. Haven't had to touch my savings as yet (knock on wood). Before you retire make sure you have no debt, have a plan as to what you plan to do, make sure you are healthy and if you have a spouse or sig. other make sure you both are on the same page.
Not once in six years have I awoken and said "damn, I miss work"!
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Old 09-23-2016   #28
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It does take early planning to be able to retire early comfortably. The only debt we have is our home and a vehicle payment for my wifes new vehicle. The wife is younger than I by 5 years, i'm only 61, and she is the Sr. VP in charge of the trust division at the bank she works at. When she turns 65 the house is also paid off.

She loves her job and has no plans to retire until she is 65-67. My monthly pension is a little over $5,000 which pays the house payment and is our discretionary money. The only thing that comes out of it is federal tax, the state has already been paid on our pensions, and my health insurance. Where I worked appreciates their retirees. Once you reach 60 they pick up 25% of your health insurance if you kept your insurance when you retire.

With the wife being a life long banker we planned very early for our future. Between the two of us we are already well over the 1 million mark in savings, IRA's, 401's etc. She has us well diversified in our planning and we have not needed to touch on penny of our retirement. In fact the wife is able to put a ridiculous amount of her monthly salary into savings etc. Her work has even purchased annuities for their top people so she will also have that extra income coming in upon her retirement at no cost to us. With all of our planning we have no intention of taking our social security until we turn 72, when we are required to take it. Plus by waiting till we are 72 the monthly check is larger.

amm1234, as for the change of life, until you try it you just won't comprehend what it is like. I am actually as busy or busier than when I was working. The difference is I am busy with things I want/need to be busy with at my discretion and leisure. If there is something special in the middle of the week I want to see or do, I can.
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Amateurs worry about equipment, professionals worry about time, masters worry about light.

I can honestly say that there are two most remarkable men in the world today. Michio Kaku is one and I am the other one. Between us we cover all knowledge.

Kaku knows all that can be known....And I know the rest.


"Yesterday is history, tomorrow is a mystery. Today?
Today is a gift. That is why we call it the present."

Master Oogway from Kung Fu Panda
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Old 09-29-2016   #29
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Most members here at the Camel are from the US of A, I would assume. At the same time, there are members from other countries/continents, with different retirement plans/ages/benefits.

For example, my sister early retired at the age of 38 or 39 (I'll probably have lunch with her tomorrow, so I'll ask for the exact age).

So the question is: What constitutes an early retirement, age-wise?

gryphonslair99 mentioned mid to late 60s That's an unfathomable around here.
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Old 09-29-2016   #30
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Gryphonslair mentioned the traditional ages for retirement. Around here, retirement in the late 50's might be considered marginally early. Then again, athletes usually retire from that field at somewhere around 40 if they aren't knocked out by an injury first. On the other hand, the company I first worked for had a mandatory retirement age of 70; but at the community college where I am now working, some of the professors and staff are still here well into their 70's. Barring some medical reason, I don't really see myself fully retiring, though I might have a part-time job.


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