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Old 03-23-2017, 04:15 PM
 
Location: Eastern Oregon
983 posts, read 1,050,953 times
Reputation: 1875

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Quote:
Originally Posted by signalfire View Post
I'm a caretaker for a 101 (and 1/4) year old WWII vet. He worked during the war making B-17s, got drafted in the big push to decimate Japan if the bombs didn't work, arrived 1 day after the verbal surrender, and came back home to a scaled down airline industry and entered the printing business. He retired in 1979 at the age he was supposed to die at, according to the actuarial tables at the time of his birth and when SS was set up.

He's collected SS ever since then. I keep expecting the IRS and Social Security office to call up and ask us to prove that he's still alive, and he jokes that 'it's a wonder they haven't taken out a hit on me!'

He always paid cash for his houses, made money on every one of them, and still has the original 1930 Model A he bought as a 15 year old 'snot nosed kid' during the depression, based on odd jobs alone.
Slight tangent (sorry!) - I hope this gentleman has taken an honor flight to DC? It's all expenses paid for the vet and a caregiver. A big way of honoring those who gave so much for our country.
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Old 03-23-2017, 08:38 PM
 
12,823 posts, read 24,331,767 times
Reputation: 11039
Quote:
Originally Posted by maciesmom View Post
Yes I understand that, but if one has no pension one is going to have to take a bigger chunk of their savings to live off of for that 5 years so it's a double-whammy. Continuing to work provides both income and delays SS. Many middle income workers (who historically may have drawn a decent pension and Healthcare allowing them to retire at 55-60 after 30 years of work ) are not in this position any longer.
You rang?

I worked at a grand total of one place that offered a pension back when I was in my 20s. I didn't stay long enough to vest. I'm glad I got out when I did ... RIFs came not long after. This was the early 1990s.

That was it. No other place I've been at since offered a pension. Some had OK 401K matches, others .... meh.
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Old 03-23-2017, 08:42 PM
 
12,823 posts, read 24,331,767 times
Reputation: 11039
Quote:
Originally Posted by CindyRoos View Post
I can totally relate to this as well! I have to work until 67 for FRA!! UGH!! My birthday is also late December. Real bummer....I'm 55 now and the thought of working another 12 years is totally sickening....I've been working since I was 17.
Another here who has FRA at 67 (assuming they don't change it before then).

At that point, what the heck, put in another few years and retire sometime after hitting MRDs on my 401K and IRAs.
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Old 03-23-2017, 09:31 PM
 
37,489 posts, read 45,772,667 times
Reputation: 56995
Quote:
Originally Posted by Red On The Noodle View Post
I'm the tale end of the baby boomers and I will not get as many years retired as I have worked.


IF I have to go to full retirement age of 66 (which I'm hoping not to), it will mean I will have worked continuously (no break in work history whatsoever) for 49 years. I would have to live to be 116 to have equal work/retirement.


And to add insult to injury, my birthday is in late December, which means I have to work the whole year before I'm 66. Thanks Mom!
Sounds exactly like me. Born in Dec, will retire at 66 (maybe 67 - will decide when it gets here), and will have worked continuously for 49 years.
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Old 03-24-2017, 07:55 AM
 
Location: Western Colorado
12,858 posts, read 16,814,411 times
Reputation: 33508
Good for him! I remember when I had my retirement meeting with HR in 2009 (after a 35 year career) I asked her, so I get monthly retirement pay for the rest of my life? Answer "yes". I told her I hoped I live to be 200! The HR girl, who was maybe 23, frowned and said "yeah good for you". Signed my paperwork and started the 30 day countdown to freedom. Now I may be hit by a falling Moose tomorrow, but being paid to watch cartoons or go fishing all day on Tuesday is really nice.
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Old 03-24-2017, 08:27 AM
 
Location: Forests of Maine
37,317 posts, read 61,125,189 times
Reputation: 30244
Quote:
Originally Posted by dothetwist View Post
First responders deserve the retirements they get.
Along with combat vet servicemembers who serve 20+ years.



Quote:
Originally Posted by David A Stone View Post
... Military retirees will probably rack up more years but I'll bet it is harder for many to live on a military retirement check compared to a teacher or other state employees' retirement check.
It depends on how many physical disabilities an individual servicemember has, how bad they are [the stress from 20 years of combat can wreck havoc on your body], and of course how much the individual has focused on his/her portfolio.

My Navy pension is roughly equal to if I were flipping burgers. My wife has a pension from a Federal agency [with an alphabet name] and her pension is super tiny.
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Old 03-24-2017, 08:48 AM
 
Location: Central Mexico and Central Florida
7,150 posts, read 4,882,434 times
Reputation: 10444
Quote:
Originally Posted by David A Stone View Post
Many posters stated they worked after retirement.


However, I consider one retired if they are drawing a retirement check from their employer where they worked most of their careers.


Teachers and state workers who have " rule of 90"


Graduate college at age 22 and work 34 years until age 56.


Thus at age 90 they will have drawn a retirement check for 34 years and have worked in their profession 34 years.


Military retirees will probably rack up more years but I'll bet it is harder for many to live on a military retirement check compared to a teacher or other state employees' retirement check.
We had the Rule of 80 at my municipal government. I was able to go at age 50 with 30 years.
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Old 03-24-2017, 08:58 AM
 
Location: Retired in Malibu/La Quinta/Flagstaff
1,604 posts, read 1,934,833 times
Reputation: 5988
Quote:
Originally Posted by V8 Vega View Post
Cops and firemen retire at 50 with unbelievable pensions and healthcare for life. They easily have more years retired than worked and we are paying for it.
And I suppose you can prove that?
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Old 03-24-2017, 02:13 PM
 
8,238 posts, read 6,552,857 times
Reputation: 23135
How does one get to be a retiree retired in Malibu, Patrolman? just wondering.....
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Old 03-24-2017, 05:26 PM
 
Location: Retired in Malibu/La Quinta/Flagstaff
1,604 posts, read 1,934,833 times
Reputation: 5988
Quote:
Originally Posted by matisse12 View Post
How does one get to be a retiree retired in Malibu, Patrolman? just wondering.....
Even though it's none of your business, since you politely asked, I'll tell you.

I spent 40 years as a police officer, 39 of those in a patrol car. I worked hard and saved my money. I have no family, been a widower for over 40 years. Bought vacant land and built my home on it. Didn't buy anything unless I had the cash to do so.

If you put your mind to it, you can do it, too.
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