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Greetings from Marietta, Ga
Old 01-03-2012, 05:29 PM   #1
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Greetings from Marietta, Ga

My wife and I are 62, I've recently retired and she doesn't work. My employer's recent offer of a voluntary termination plan took us by surprise and now we're deciding what to do about taking social security as well as other things.
I'm looking forward checking out this board!
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Old 01-03-2012, 07:20 PM   #2
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Welcome aboard Bruce, this is a great community. And I've added you to the Class of 2011 roster as requested...
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Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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Old 01-04-2012, 01:31 AM   #3
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Bruce - wlecome to the forum and congrats on the next phase of life!
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Old 01-04-2012, 06:33 AM   #4
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Welcome. There are some really smart people here who generously provide good advice for free.

Check out the stickys, FAQs and the search function for some good background.
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Old 01-04-2012, 06:39 AM   #5
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Welcome. There are some really smart people here who generously provide good advice for free.
And then there's the rest of us. Good luck figuring out which is which.
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Old 01-04-2012, 07:07 AM   #6
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Bruce, congratulations! Many of us are still aspiring to achieve FIRE, just as you have. How long has it been and how do you like it so far? When you received the voluntary retirement offer, how did you know you were ready for it?
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Old 01-04-2012, 08:28 AM   #7
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Bruce, congratulations! Many of us are still aspiring to achieve FIRE, just as you have. How long has it been and how do you like it so far? When you received the voluntary retirement offer, how did you know you were ready for it?
Well, I really don't know if we are ready for it.
It's been a week and like it so far.
I, and the rest of those that are still working there are really confused. After the company surplused one tech two years ago, we figured we were short one to cover the area that we work. I thought there wouldn't be another offer and that I would probably have to just take straight retirement, ie pension without voluntary termination plan. Needless to say they surplused one in our are and included the VTP. I don't think the VTP will be offered again in the near future. That's a whole other story so I won't get into it.
Anyway, the 2 years pay will be just like a 2 year vacation. I figure I won't make any overtime (usually 40% of my base pay) but the pension will make up for part of that. After the two years have passed, I plan to live on our 401k's for nine months and draw SS when I'm 65. I might even hold off on this, trying to make 66 or beyond. It probably depends on how much we control our spending.
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Old 01-04-2012, 10:03 AM   #8
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Well, I really don't know if we are ready for it.
It's been a week and like it so far.
I, and the rest of those that are still working there are really confused. After the company surplused one tech two years ago, we figured we were short one to cover the area that we work. I thought there wouldn't be another offer and that I would probably have to just take straight retirement, ie pension without voluntary termination plan. Needless to say they surplused one in our are and included the VTP. I don't think the VTP will be offered again in the near future. That's a whole other story so I won't get into it.
Anyway, the 2 years pay will be just like a 2 year vacation. I figure I won't make any overtime (usually 40% of my base pay) but the pension will make up for part of that. After the two years have passed, I plan to live on our 401k's for nine months and draw SS when I'm 65. I might even hold off on this, trying to make 66 or beyond. It probably depends on how much we control our spending.
It gets better. Have you used FireCalc to see what impact delaying SS would have?
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Old 01-04-2012, 03:35 PM   #9
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Have you used FireCalc to see what impact delaying SS would have?
No, but I've used others. I'll check it out. Thanks!
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