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Old 01-13-2017, 01:33 PM
 
105 posts, read 93,834 times
Reputation: 230

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Quote:
Originally Posted by Perryinva View Post
You don't say what their raise per year is, and how that compared to inflation. $10k/yr in 1980 was not anything special and low for a college grad. My father is an immigrant, with a 4th grade education, at age 39, in 1980 was making $50k/yr. He worked two jobs. He saw them as opportunities not hardships.
In this conservative example, the person had a 3% raise each year and kept the annual retirement fund contribution the same percent of their total gross income.
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Old 01-14-2017, 09:34 PM
 
292 posts, read 185,157 times
Reputation: 309
Quote:
Originally Posted by Escort Rider View Post
It will not be up to the mayor, of course. It will be up to a federal bankruptcy judge, and representatives of retiree groups will have their say in court. All the best to you.
This is not true, the Mayor, the council and the employee unions will get together under the threat of a city or county filing bankruptcy. The employees will settle for a smaller cut instead of taking a chance in court of a larger cut under Federal jurisdiction. Remember Detroit is the precedent that can happen anywhere.In federal court Detroit employees and retirees were ruled unsecured creditors just like credit card companies. Some cities and counties have already taken cuts based on this.
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Old 01-15-2017, 05:58 AM
 
Location: Los Angeles area
14,018 posts, read 17,747,361 times
Reputation: 32309
Quote:
Originally Posted by ekman243 View Post
This is not true, the Mayor, the council and the employee unions will get together under the threat of a city or county filing bankruptcy. The employees will settle for a smaller cut instead of taking a chance in court of a larger cut under Federal jurisdiction. Remember Detroit is the precedent that can happen anywhere.In federal court Detroit employees and retirees were ruled unsecured creditors just like credit card companies. Some cities and counties have already taken cuts based on this.
Yes, you are correct. What I wrote described the situation once the city files for bankruptcy. What you wrote gives the broader picture and is a welcome clarification.
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Old 01-16-2017, 07:05 PM
 
Location: University City, Philadelphia
22,592 posts, read 12,344,497 times
Reputation: 15498
Quote:
Originally Posted by West Coasting View Post

Life is about living, not working every day until you die. And i have seen to many of my peers do just that after sticking around to 62

Not me.

WC
On this one point we can agree. I think retirement can be a wonderful, if not the most wonderful, time of one's life. I am postponing my own retirement until my early 60's only because I happen to love my job. I am not going to wait until I'm 65 or 66, I'm still in good health and even after visiting over 80 countries on six continents there are still at least another dozen places I want to see.

I cannot see myself living in Tennessee, however. To each his own. I'm a big city boy and a culture vulture. I like living in the kind of city where you don't need a car (even though I happen to have one).
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Old 01-17-2017, 05:45 AM
 
Location: RVA
2,168 posts, read 1,268,333 times
Reputation: 4465
80 countries!!!I am jealous. That's amazing! I'm assuming it was mostly work related??
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Old 01-17-2017, 02:53 PM
 
Location: University City, Philadelphia
22,592 posts, read 12,344,497 times
Reputation: 15498
Quote:
Originally Posted by Perryinva View Post
80 countries!!!I am jealous. That's amazing! I'm assuming it was mostly work related??
Mostly non-work related ... simply pleasure. I made my first trip to Europe when I was 17. By the time I was 21 I had already been to Europe 3 times, Canada, Mexico, the Bahamas, the Azores, Turkey and Israel.

When I became employed by the passenger ship company Cunard (had to join the British Royal Merchant Navy!) at age 40 I added Pago Pago, Samoa, New Zealand, Australia and Fiji to the list ... but the other crew members were astonished that all those other places like Japan, Thailand, Finland, Portugal, Morocco, etc, etc I had already visited before. I've been to India 4 times and on trip #3 I spent 3 1/2 months exploring the entire sub-continent including Nepal and Sri Lanka.

Some of the activities I engaged in include spending an entire season in Jerusalem working on a Hebrew University sponsored archeological "dig" (my degree is in anthropology); taking a Buddhist meditation course in northern Thailand; and camping (with my Mom!) in the Amazon rainforest in eastern Peru.
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Old 01-18-2017, 10:08 AM
 
Location: New York
831 posts, read 655,125 times
Reputation: 1536
Quote:
The one thing I have learned about retirement is... when we are working, and in the heat of all the BS that comes with it, it is easy to identify the reasons you want to retire. Now that I have been retired a little over 6 months, what I have come to find is I have almost forgotten everything I disliked about my job. You start forgetting why you retired and that now everyday feels like 'Saturday'. It takes some effort for me to reflect on my working days. And then, the past comes back into the light and I am glad we decided to not only to leave my job, but California all together.
Thanks for the great story, and follow up! Similar to you we too are eager for our pension to kick in, and move somewhere (tenn.?) from NY. Sad as NY is beautiful, but so pricey. I too took a good civil servant position with a handsome pension. The test is open to anyone, yet there are so many who are upset. I worked hard for what we will get one day. 30 months and counting....
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Old 01-20-2017, 02:48 PM
 
Location: RVA
2,168 posts, read 1,268,333 times
Reputation: 4465
Awesome. 38 months and counting here, also.
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Old 01-27-2017, 07:01 AM
 
110 posts, read 133,699 times
Reputation: 54
Quote:
Originally Posted by tgbwc View Post
If I can I will retire from my current job at at 52. If I have to I will go until 55. Either way I could do something part-time afterward.
My plan is similar but at 54 with about 23 months to go. I can't wait and will just figure it out with a part-time role if needed.
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Old 01-27-2017, 05:12 PM
 
Location: Central CT, sometimes NH.
3,480 posts, read 5,149,433 times
Reputation: 3548
My exit plan is 55 with 18 months to go. I'll take the 27% early retirement penalty for leaving 5 years early. Time to pursue other interests and enjoy new experiences.
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