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.
Receiving pensions from two or more agencies means nothing except that the person spent a certain number of years working for one agency and then moved to another. It's the total amount of years worked, nothing more. Why some people have such difficulty understanding that is surprising. The real icing on the cake is additionally having a nice little nest egg in a 401K or other deferred compensation for retirement.
Receiving pensions from two or more agencies means nothing except that the person spent a certain number of years working for one agency and then moved to another. It's the total amount of years worked, nothing more. Why some people have such difficulty understanding that is surprising. The real icing on the cake is additionally having a nice little nest egg in a 401K or other deferred compensation for retirement.
I confess when you posted I had a strong reaction that stayed with me for a couple of hours. Not sure if I shared it then but I will now.
DANG YOU THE MAN!
That's good to know that you now understand where I was coming from. No, I'm not "the man", because there are others out there who have retired earlier than most with alot more money! Yeah, it is always a matter of money, because without it, it makes Jack a dull boy! Luckily my life in early retirement isn't dull! Thanks for your understanding comment!
I read that post and replied. I too retired early, and have heard some negative comments. When some one says, "Must be nice", I reply sure is, I'm going fishing.
Thanks for mentioning the thread in the other section. I would have NEVER lurked in that "Non Romantic relationships" section. LOL.
As I mentioned there. I think anyone that is able to retire earlier in life made some GREAT decisions, had some lucky breaks (good health, good timing, no divorces, etc) , were very hard workers, and relatively good/great investors.
If you can't tell from my screen name, early retirement was always a goal of mine from a very early age.
So true jim9251 when you mentioned "must be nice". I don't dare tell people I retired early and admittedly I still work several hours a day so I consider myself "semi retired". But it's the best feeling in the world being able to retire early!
I've been retired going on 16 years now! I retired at age 49 in 1997 and never worked again due to my chronic lower back pain since my wife and I sold everything in California and moved to the Philippines permanently, our roots! I just started with a small initial Civil Service (CRS) pension and it increased over the yrs, 11 to 12 yrs to be exact, when my military reserve pay kicked in at age 60 and SSA at age 62 and the COLAs in the past 16 yrs has helped a great deal to increase my total combined income! I could never save any money when I was still working, but now life is truly grand and still enjoying our retirement! Can't ask for anything more, but a little bit more annual COLA please, because at age 65 this coming September Medicare Part B will eat up my COLA for 2013 and 2014. Part B is mandatory for us ex-military retirees in order to keep our TRICARE eligibility! Doesn't sound fair, because Medicare can not be used overseas, but I think our TRICARE Medical Health System (MHS) covers what Medicare does not while residing overseas!
So, whenever someone asks me what I do for a living, I just say "I'm retired" and when they persist for more of my background history, I tell them my 30 yrs life long story if they have time to listen!
Receiving pensions from two or more agencies means nothing except that the person spent a certain number of years working for one agency and then moved to another.
Exactly. It's more common in certain industries where companies regularly buy and sell units of other companies (often due to the conflict of interest situations that can arise in some industries). I know a person who took a job with TRW, which was bought out by NG. After that NG had a conflict of interest situation with a specific division, so made an arrangement to have those employees be bought out by TASC. He never quit any jobs or even left his desk--he even kept the same office mates even though they worked for different employers. He could claim a pension from the earlier employers but they were tiny, so while helpful they weren't the crux of his retirement plan.
Receiving pensions from two or more agencies means nothing except that the person spent a certain number of years working for one agency and then moved to another. It's the total amount of years worked, nothing more. Why some people have such difficulty understanding that is surprising. The real icing on the cake is additionally having a nice little nest egg in a 401K or other deferred compensation for retirement.
The outcomes of multiple pensions can vary greatly depending on the pensions and how they are constructed and the resulting benefits. Tweny years in the military having served in combat when combined with 20 years in the Federal Gov't can yield different results than just 40 in government. Military retirement with disability can offer some tremendous advantages above normal retirement. You can join the military at 18 and do 20 years and then go into government service for another 20 and have 40 years in with very decent benefits and be retired at age 58. I know folks who planned out retirement fully expecting to work in different sectors with different benefits etc etc. Some with high skill levels worked in the private sector to max out their 401K with matching contributions and then went into the public sector to obtain a partial pension and health care benefits.
The outcomes of multiple pensions can vary greatly depending on the pensions and how they are constructed and the resulting benefits. Tweny years in the military having served in combat when combined with 20 years in the Federal Gov't can yield different results than just 40 in government. Military retirement with disability can offer some tremendous advantages above normal retirement. You can join the military at 18 and do 20 years and then go into government service for another 20 and have 40 years in with very decent benefits and be retired at age 58. I know folks who planned out retirement fully expecting to work in different sectors with different benefits etc etc. Some with high skill levels worked in the private sector to max out their 401K with matching contributions and then went into the public sector to obtain a partial pension and health care benefits.
I'm sure they do vary. My response was only to explain why a person might receive more than one pension. There are many who think someone should receive only one pension after a lifetime of work when it's just not so. Thanks for expanding on it, though.
So true jim9251 when you mentioned "must be nice". I don't dare tell people I retired early and admittedly I still work several hours a day so I consider myself "semi retired". But it's the best feeling in the world being able to retire early!
I retired at 57, but I'd consider retiring early to be the second best feeling in the world. I'd see having a job that you really, really enjoyed could be the best feeling in the world. Imagine getting paid to do something that you really enjoyed doing all day. Yes, I realize that's unfortunately very uncommon, but it's not unheard of by any means (and it's not just celebrities, athletes & Warren Buffett - some "ordinary" folks have jobs they love though they're not common).
For the right job, I could see coming out of retirement. YMMV
After working 30 years for the same company I was fortunate to be able to retire really early. I'm grateful that I started to save for my retirement when I was in my early 20s. However, I know that if had discovered in my late 30s that I was dying, I would probably have regretted that decision to save so much instead of using the funds to enjoy life more.
In other words, I made a calculated gamble that I would live long enough to enjoy the fruits of my financial choices. I played the odds and I won. I feel relieved that the sacrifices paid off but I'm not complacent. After all it was a gamble that I could have lost.
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.
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.
