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Old 10-23-2015, 12:06 PM   #21
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Put in the notice. Retiring on Jan 22nd, 2016.
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Old 10-23-2015, 12:36 PM   #22
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It's easy to bat the income subject around--over analyzing every account. You're in great position to retire, so go ahead and enjoy your retirement.

My only suggestion is don't work too hard in your sideline business. That can quickly turn into a job.

Watching Let's Make a Deal and Price is Right are very positive starts to a great day. It also helps to have good hobbies that you enjoy.
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Old 10-23-2015, 05:14 PM   #23
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Congratulations on pulling the trigger!!! Wow!
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Old 10-25-2015, 10:40 PM   #24
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Congrats on setting the date! You will enjoy the rest of your life!
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Old 10-27-2015, 07:24 AM   #25
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I give you a check mark for yes, you can retire on 100k, probably more like 162k, depending on portfolio yield. I am not a huge fan of non traded rents tho...
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Old 10-27-2015, 09:10 AM   #26
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400K is in a state defined benefit pension which will pay out $63K/ year
How is this rate of payout (15%) possible? Does the state make up the difference?
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Old 10-27-2015, 12:21 PM   #27
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How is this rate of payout (15%) possible? Does the state make up the difference?
Typically. It's likely that the $400K is purely employee contributions with a tiny amount of interest based on treasuries. If you just take out the lump sum, you're not eligible to get any of the employer contributions and investment returns from the trust fund so it's always better to take the pension annuity.
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Old 10-27-2015, 12:31 PM   #28
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How is this rate of payout (15%) possible? Does the state make up the difference?
If one uses one the usual online annuity calculators the value of the $68K immediate annuity is something around $1M.
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Old 10-28-2015, 08:07 AM   #29
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Typically. It's likely that the $400K is purely employee contributions with a tiny amount of interest based on treasuries. If you just take out the lump sum, you're not eligible to get any of the employer contributions and investment returns from the trust fund so it's always better to take the pension annuity.
Exactly. Only able to withdraw your own contributions and a trivial interest accumulation. The pension includes the employees contribution and a more generous interest rate.
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Did u factor in taxes?
Old 10-28-2015, 10:44 AM   #30
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Did u factor in taxes?

I live in nyc , my pension is 103,000 ,after taxes it's 84,000. I read somewhere u should factor in 1% of the value of the house in repairs. We went a long stretch with no repairs , but then I spent a whopping 360,000 in upgrades about 2 years into my retirement, not that I'll ever get it back when I sell but I wanted it to be mint condition for my retirement years as I spend lots of time in it now. Since your home is worth well over a million dollars like mine is, you need to factor in maintaining it in pristine condition. Congrats on you retirement
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Old 12-07-2015, 06:08 PM   #31
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CEO asked me on Friday if I wouldn't reconsider retiring. I said no, thank you!
;-)
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Old 12-07-2015, 06:13 PM   #32
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Good for you!
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Old 12-07-2015, 06:24 PM   #33
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CEO asked me on Friday if I wouldn't reconsider retiring. I said no, thank you!
;-)
Should have told him YES! I'll be going a week earlier
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Old 12-07-2015, 10:24 PM   #34
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Congrats!!
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Old 01-09-2016, 08:52 PM   #35
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Well, It's two weeks to departure. Trying to wrap up task (particularly unpleasant ones) before the departure. Not too happy with beginning our retirement with the market slumping. Interestingly, being courted by the "dark side" (consulting firm). People can't believe I am just retiring!
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Old 01-10-2016, 06:20 PM   #36
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YOu will love not setting the alarm anymore. About a year in we decided to do some consulting in our fields but most work can be done on computer at home in our pj's. It's the best of both worlds for us. Congrats!!
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Old 01-14-2016, 02:56 PM   #37
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Only a few days left!
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Old 01-16-2016, 08:20 PM   #38
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3m + Pension and 100k expenses, quit today!
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57 YO and thinking it's time
Old 01-16-2016, 11:00 PM   #39
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57 YO and thinking it's time

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3m + Pension and 100k expenses, quit today!

You're overcooked. You should have quit last year!


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Old 01-17-2016, 03:17 AM   #40
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You're overcooked. You should have quit last year!


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Friday will be it. (and I am off on Monday!)
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