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Old 03-14-2017, 07:59 PM
 
4,194 posts, read 2,488,898 times
Reputation: 1935

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Quote:
Originally Posted by Submariner View Post
My employer [US Navy] kicked me out due to my old age [High-Year-Tenure] when I was 42.

We knew it was coming, we planned for it. We were able to afford to retire then.





I agree.
Retired STSC(SS). HOOYAH NAVY
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Old 03-14-2017, 08:21 PM
 
Location: Forests of Maine
30,682 posts, read 49,443,611 times
Reputation: 19134
Quote:
Originally Posted by Steve40th View Post
Retired STSC(SS). HOOYAH NAVY
USS George C. Marshall SSBN 654 (b)
USS Simon Lake AS-33
USS Casimir Pulaski SSBN 633(g)
USS Alaska SSBN 732 (b)

ET1(SS)
USN Retired

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Old 03-14-2017, 09:45 PM
 
Location: Albuquerque NM
1,659 posts, read 1,523,899 times
Reputation: 3640
I'll retire when the pension is enough - a calculated decision, not an arbitrary decision. It takes 30 years of service for me to retire with a pension and health insurance. Working two more years until age 62 optimizes that pension and increases net worth significantly. The total retirement income, calculated using website retirement calculators to last until age 95, funds my estimated non-discretionary expenses and taxes with enough left to fund my discretionary expenses wish list. Age 62 is young enough to retire and still have enough good years left to enjoy life. That age has nothing to do with getting early security as I have enough funds to postpone it and will probably do so until the next market correction. Being able to leave the government early in the new President's term before he impacts my job is just the icing on the cake.
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Old 03-15-2017, 05:19 AM
 
2,394 posts, read 2,062,405 times
Reputation: 1648
Quote:
Originally Posted by slimegoat View Post
I retired from Civil Service at age 46 in 2015, and haven't looked back. Boosted my pension with overtime, so I'm taking home more than what I would be at base pay, if I were still working. Plus, I retained all medical, dental, and optical benefits. A generous monthly check and free healthcare for life were more than enough to assure me that I chose the right option.

What State or government authority. NJ State pensions do not count overtime in the pension although if you work for the Port Authority they do since they follow the NY State pension formula.
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Old 03-15-2017, 08:56 AM
 
Location: NW PA
410 posts, read 955,655 times
Reputation: 414
I retired at 46, divorced about a year prior. I looked at my financials, and with helpful input from a few early retirement websites, I hit the no more work for me, eject button. I had always lived well below my means, continue to have zero debt, 820-ish credit score, and all of this continues or improves. I have no pension, and healthcare insurance costs, with their unpredictability has been a bit of concern, and genesis of some less than happy feelings.

Key for me, as always, has been to be fully invested in low cost Vanguard index funds, using the dividends as the primary funding of lifestyle. LOW COST is the key, and without it, I could not have retired. Nice too that I stay in a low tax bracket, so long term Cap gains are zero, not to mention I pay no FICA tax. Even with my single filing status, I pay zero fed income tax, zero. Not every one can, or wants to live a modest lifestyle, but for me I love it, and always have. Keeping physically and mentally fit pays further dividends, and is absolutely paramount when early retired.

Why did I do it?... I had enough of what seemed an increasing level of work related B.S. You know, being a very good, reliable worker, yet being treated as if a supplicating simp, disposable cog, with work demands ever increasing, the benefit to me ever decreasing, with the whole work culture seemingly spiraling down the drain. Seeing friends I grew up with, and family passing away only added to the impetus to get out. Money comes and goes, time is all we have, and no more is being created for me at any cost, awaiting, and heading toward the final destination. I got tired of renting out my life cheap, and being able to pull the F-you work card, and mean it, has its own reward.

Now, everyday is like a Saturday afternoon, and offers unlimited possibilities, with me in control. I can book a flight to anywhere, at any time, asking no one, and do it. Go shopping at the non busy times, go for daily walks in the afternoon is great. Big snow hits and I can stay in my bed if I want, or enjoy a nice cup of tea, watching the birds at my feeders that I tend, etc, etc... All of that job stress is gone, and for me it is literally a life saver. All of this freedom, has actually been an issue at times; I am having trouble figuring where I might want to settle down (state/area of country/even out of the country). Yep, who would have thought having basically unlimited choices on where to move, would have been so daunting?

Good luck Steve, it can be a hell of an adventure!
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Old 03-15-2017, 09:00 AM
 
7,801 posts, read 4,387,974 times
Reputation: 11589
I'm enjoying reading these stories now that I CAN retire anytime (as of a couple of weeks ago). But I am choosing to stay another year for the extra money and time to plan my retirement. I find that now that I can leave, there's no urgency. It's a great feeling!

Last edited by otterhere; 03-15-2017 at 09:23 AM..
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Old 03-15-2017, 09:08 AM
 
Location: Retired in Malibu/La Quinta/Flagstaff
1,324 posts, read 1,328,115 times
Reputation: 4386
I retired at age 64 after riding in a patrol car for 40 years. I realized that law enforcement is a younger person's game.
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Old 03-15-2017, 11:59 AM
 
Location: Virginia
11 posts, read 4,293 times
Reputation: 30
Quote:
Originally Posted by Submariner View Post
USS George C. Marshall SSBN 654 (b)
USS Simon Lake AS-33
USS Casimir Pulaski SSBN 633(g)
USS Alaska SSBN 732 (b)

ET1(SS)
USN Retired

Hi! When were you on the Simon Lake? I was on the USS Hunley AS-31 for 18 months, then cross-decked to the Simon Lake in May 1987. I was a PN2, my now husband was an FTB2(SS) who was in W-2 and then W-6 on the Hunley, just W-6 on the Simon Lake. Oh, and he was on the USS Andrew Jackson SSBN-619. Always liked the guys in W-5...

And to stay on topic - I'm not ready to retire yet, but I have my date! Less than six years - that's when our house is paid off and there's no penalty for taking my government pension.
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Old 03-15-2017, 12:03 PM
 
Location: Virginia
3,962 posts, read 2,033,495 times
Reputation: 10883
I retired at age 56 because the command where I had worked for over 17 years was disestablished. Sure, I could have gone to DC for a higher grade in the same job series, but the 5 hour round-trip commute really didn't appeal to me. And thank heavens I didn't elect to relocate to Norfolk to the new command that was being formed - THEY closed down in less than 3 years and I would have been SOL and far away from my Mom when she needed my help in her final years with Alzheimers. I honestly make only about 10K less than I did working for doing bupkus (if I choose), so the trade-off is more than worth it to me.
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Old 03-15-2017, 12:12 PM
 
7,801 posts, read 4,387,974 times
Reputation: 11589
Quote:
Originally Posted by otterhere View Post
I'm enjoying reading these stories now that I CAN retire anytime (as of a couple of weeks ago). But I am choosing to stay another year for the extra money and time to plan my retirement. I find that now that I can leave, there's no urgency. It's a great feeling!
Although... I am having the "work day from hell" today, so... THAT might make me retire! Definitely getting too old for this...
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