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Old 03-18-2015, 10:00 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,658 posts, read 40,029,981 times
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I prefer 'end-of-yr' retirements, so I can have a LOW / NO income yr immediately following to do tax planning / ROTH conversions / distributions.

In some cases, leaving earlier in the yr could be a tax advantage. (I have never been at that high of pay level...).

Talk to the TAX guy too!

I certainly see your point of wanting to escape earlier (especially adding another 'summer - off' to your accomplishments!. Consider buying the new location during off season. I usually make my offers when the sellers are sweating paying their income or property taxes (between Dec and April in most cases).

I have had to buy properties in advance of relocation. sometimes I rent them out, or do remodeling projects from a distance (More ways to burn vacation).

Retire early, retire often
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Old 03-18-2015, 10:22 AM
 
Location: Florida -
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Taking a vacation prior to retirement seems redundant, but, I suppose it works in some situations. When I was considering an early retirement, the company was simultaneously offering a buy-out package. By taking that, I left a year early (61) ... plus, got paid for the year. Now that's the way to take a 'vacation' prior to retirement!
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Old 03-20-2015, 05:18 AM
 
Location: Central Massachusetts
4,800 posts, read 4,856,396 times
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Since I am being forced out, I have looked at what I would get based on my current annual leave and it will make a nice transition for the first month of retirement. I plan to take the money and run.
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Old 03-20-2015, 10:49 AM
 
Location: Maryland
282 posts, read 306,422 times
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Quote:
Originally Posted by volosong View Post
Another thing I need to ask the adviser. Is it 'better' to delay SS and live off of 403(b) funds, or take a lesser amount of SS and try to preserve the 403(b) money? The way this uninformed, ignorant observer see it, is that it is a wash. That's why I need some professional help.
I will be interested in what the advisor says (as long as they don't try to sell you something). I am thinking that delaying SS results in a big increase every year, I think 8% per year after age 65.
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Old 03-20-2015, 01:03 PM
 
Location: Albuquerque NM
1,662 posts, read 1,530,329 times
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Quote:
Originally Posted by CSRSJim View Post
I will be interested in what the advisor says (as long as they don't try to sell you something). I am thinking that delaying SS results in a big increase every year, I think 8% per year after age 65.
One rule of thumb is if the market is down, take SS and preserve your stocks. If the market is up, delay SS and rely on stocks. Being single, I'd take the SS unless I was very healthy and there was longevity in my family or if there was some reason that I would require more income later in life (e.g., pension with no COLA). Or if I had some huge 401K where I need to spend it down to avoid paying lots of taxes on RMDs at age 70 1/2 (not really a problem in my case) so don't need the SS at that time. My home will be my long term care insurance.
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Old 03-22-2015, 04:42 AM
 
1,437 posts, read 726,388 times
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I don't know if I agree with everyone saying take the vacation vs. cashing it in......you'll have LOADS of free time in retirement to go "on vacation".....retirement itself is one long vacation.

I'd work till the end and take the cash payout....gives you a nice kick at the end and you can use it to go on/towards a retirement celebration or add it to your nest egg of liquid assets....the more cash you have in hand after retirement the better for any unforeseen expenses or just to know it's there if needed.
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