U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-17-2008, 11:07 PM
 
212 posts, read 753,451 times
Reputation: 142

Advertisements

At what age will you retire and will will you retire early or work to max retirement age.
Reply With Quote Quick reply to this message

 
Old 01-18-2008, 01:02 AM
 
1,174 posts, read 6,307,209 times
Reputation: 1083
I retired at 46. I don't know what qualifies as "max retirement age." My employment allowed me to retire as a part of a defined benefit pension plan, with COLA increases, after a minimum of 20 years of employment.

If max age relates to Soc Sec, I won't ever receive it because of something called a Goverment Pension Offset, which means that my previous contributions have been stolen from me. As such, it has no meaning to me.

I will now continue working, but for myself. Actually, my job will be geared towards personal improvement and learning new skills. It's not meant to make money, but to develop kinestic skills that I've always wished to explore.

So, work will continue, but it's really not work. When work is enjoyable, it's no longer work.
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 09:40 AM
 
Location: Forests of Maine
30,721 posts, read 49,529,915 times
Reputation: 19162
Quote:
Originally Posted by captnemo View Post
At what age will you retire and will will you retire early or work to max retirement age.
Hey Capt; I retired when I was first offered a pension.

The employer that I worked for offered me a pension and was booting me out the door on the same day [my EAOS], they call it your 'High-Year-Tenure'.

Had I been able to advance further up their corporate structure up to a higher pay-grade, then my 'High-Year-Tenure' [HYT] would have been longer.

At my mid-management level in their structure, my HYT was at 20 years [rounded to the end of the following month]. Had I advanced up one pay-grade than my HYT would have been 24 years.

I was employed with them when I was 18. Then at 24 I severed my employment with them and went to college, in college I was able to utilize a benefit program that I had qualified for during my previous employment period. I attended college for four year on their dime. When I was 28, one of their HRO personnel had been after me to go back to them. So I did. I also discovered that they offered a variety of benefit programs that allowed me to continue taking college courses; I finished an Associates of Sciences degree in Horticulture, a Bachelor of Science degree in Electronics, and a Master of the Arts degree in Theology. I completed my 20 year career when I was 42, when I reached my HYT and got my pension.

Seeing that you are a 'Captain' I am sure that you are familiar with my employer and their pension process.



Like 'Garth';
Quote:
... My employment allowed me to retire as a part of a defined benefit pension plan, with COLA increases, after a minimum of 20 years of employment.
Sounds like Garth and I had the same employer.

"... work will continue, but it's really not work. When work is enjoyable, it's no longer work."

I bought a small farm with a portion of my investment portfolio, I am building a house and I market organic produce.

ET1(SS) - USN
retired
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 09:46 AM
Status: "0-0-2 Game On!" (set 12 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,328 posts, read 15,384,575 times
Reputation: 9547
Quote:
Originally Posted by forest beekeeper View Post
Hey Capt; I retired when I was first offered a pension.

The employer that I worked for offered me a pension and was booting me out the door on the same day [my EAOS], they call it your 'High-Year-Tenure'.

Had I been able to advance further up their corporate structure up to a higher pay-grade, then my 'High-Year-Tenure' [HYT] would have been longer.
Opposite for the spouse - as senior engineer at a Fortune 50 company, drawing the maximum salary an engineer can make (without going into management), so he was one of the first to be offered money to go away (early retirement), since they can replace him with 2 engineers fresh out of school. Which he gladly took, in cash, as he had little to no faith that what pension benefits the company offered regular retirees would be around throughout our retirement. Of course, they can't replace his skills and knowledge, which is why they've tried to call him back 3 times in 7 months. So now we're both retired, at 54 and 48.

We both still do occasional work (he does 15-10 hours of engineering consulting a month, and I do some editing).
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 10:17 AM
 
259 posts, read 1,183,983 times
Reputation: 101
If I am supposed to accumulate a pot that will pay me 80% of my current income each year until the magic age (which I think the CFP's now say is 92?), I honestly don't think I will ever be able to retire..or not until about age 86. So much for rules of thumb..

Last edited by casualobserver; 01-18-2008 at 10:28 AM..
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 12:36 PM
 
Location: DC Area, for now
3,517 posts, read 12,063,187 times
Reputation: 2141
I plan to go at age 55.3 years - right on time with full benefits. Max age would be something like 70 - not worth it.
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 01:34 PM
 
9,807 posts, read 13,480,667 times
Reputation: 8164
Retired at age 62 in August,

No regrets.

In my paper today were three obituaries----ages 63,62, and 58.
The 62 year old was employed at a factory for 40 years up until his death.

I will enjoy every day and am thankfull for whatever days I have left.
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 01:58 PM
 
Location: Pinal County, Arizona
25,107 posts, read 35,240,456 times
Reputation: 4899
Quote:
Originally Posted by captnemo View Post
At what age will you retire and will will you retire early or work to max retirement age.
There is no "max" retirement age
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 03:21 PM
 
Location: New Jersey/Florida
5,443 posts, read 10,538,250 times
Reputation: 3628
Quote:
Originally Posted by Greatday View Post
There is no "max" retirement age
GreatDay'
It depends on what field your in. My job has a max at 65 and your removed (with a nice pension of course). The NJ State Police force you out at 55 YOA. They consider that age as to old to be a trooper.
Reply With Quote Quick reply to this message
 
Old 01-18-2008, 03:23 PM
 
Location: southern california
55,709 posts, read 74,719,468 times
Reputation: 48237
58......already did it.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top