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HI All, After Long Absence I'm & Retired, By Injury, By Choice (1 Month)
Old 09-25-2015, 07:05 PM   #1
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HI All, After Long Absence I'm & Retired, By Injury, By Choice (1 Month)

Well, the paycheck is gone. Rather daunting, suffered a head injury in 6/13 (I-Beam's to the head/brow-line at full speed will win every time; this was "my exit".) So, make short: law suit pending there, had to get one insurance companies, all asked and have liens. Over $1 mill. in costs so far and still in pain. So, in June asked CFO for severance. HR, 'you know you can just leave' - ok, at 62 then, early retirement for me ! Told CFO could not do job with pain he wasn't getting what he was paying for and I needed to try to get better. So package. Pretty good given the approach - let's be fair.

But 'no more check', now I'm cutting back looking at everything I spend and investments for some gains or income, little risk, don't need 20-30% downswings, just to much. So a lot in t-bills, A rated banks, 401k MM, Pension in Bonds (company insures that and has very very deep pockets, no fund, they latter (they bought a bank because it was less costly for them - go figure!)

So FireCalc says you'll make it with 0% chance failure, but have to invest right.

We'll i'll be looking at post s for ideas. I'm reading books and got good-rated retirement newsletter (Bob Carlson).

So hello, again. Retired @ 59!

Best, RJL
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Old 09-25-2015, 07:26 PM   #2
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I assume you've made a workman's comp claim. Sounds as if you need to also apply for social security disability. They're more lenient when you're not far from regular retirement.


Sorry for what you're going through.
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Old 09-25-2015, 07:42 PM   #3
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OK, thanks, no I haven't. I heard I needed to wait a year for SS disability. And, I never even considered worker's comp? Who helps with kind of stuff?

And thanks for the kind words, appreciated.

Best,
RJL
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Old 09-25-2015, 07:49 PM   #4
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You have to wait to receive SS disability, but you should begin the application process now.
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Old 09-25-2015, 07:50 PM   #5
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Thanks much!
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Old 09-25-2015, 08:07 PM   #6
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The one year doesn't always apply. My brother got a terminal cancer dx in late August... applied for SS in Sept. Was "fast tracked" because of his terminal dx, got notice in mid Dec that his SS disability was approved and would start in March. Unfortunately, he died in late Dec.

So the 1 year wait to apply doesn't make sense to me.
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Old 09-25-2015, 08:10 PM   #7
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Thanks & sorry for to hear you lost your brother.
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Old 09-25-2015, 08:41 PM   #8
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Sorry about that major injury. But if that happened while working I'm shocked you haven't heard from your employer's workers' compensation ("WC"). WC is mandatory, and you should not have to initiate a claim.
But, if you've heard nothing since June, you need to get a WC attorney ASAP and get the claim process started. I ER'd from insurance claims management, with most of my expertise in WC. If you need some general guidance, let me know.
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Old 09-25-2015, 08:46 PM   #9
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mystang52 - thanks for the advise.

I wrote what happened, however, I am surprised and grateful for the kind remarks ++ the advise on SS and WC from all.

Many Thanks, RJL
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Old 09-26-2015, 01:38 PM   #10
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Once on SSDI (Social Security Disability), you'll probably hear a lot about the SSDI fund running out of money in 2016, and benefits for people on the program being cut off. Here's a transcript of a program aired on NPR showing why that won't happen. Also some discussion regarding Social Security's overall solvency issues (you have to use the down arrow on your keyboard to scroll through the transcript):

The Future Of The Social Security Disability Insurance Program - The Diane Rehm Show
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Old 09-27-2015, 09:03 AM   #11
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Workers Compensation Claim should be filed ASAP, if your injury required hospitalization and/or surgery, you better hire a lawyer. Work Comp Lawyers are working on Contingency. I am not sure what is current rate now but in 1990s when I had my major injury at work with following surgery it was 11% of your settlement.
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Old 09-27-2015, 10:45 AM   #12
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Well, your injury is certainly not the best choice for reason to retire, but hope your recovery goes well and you can enjoy retirement.

Being that it happened at work it definitely has workers comp involved, and they should cover all the med bills. SS Disability will help get you some extra funds since you can't work. As for your savings and living expenses, being too conservative can be detrimental to keeping up with inflation. Or to put it in allocation terms, you need to have some equities exposure or other means to offset inflation. Just as a rough guess, you likely should be around 40-50%. These would be your longer term funds, and you use the more stable savings money for your short-term. Any volatility that you do not like in equities is averaged out over time, so you just let it ride and do not sell at lows.
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Old 09-27-2015, 11:00 AM   #13
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Quote:
Originally Posted by mystang52 View Post
Sorry about that major injury. But if that happened while working I'm shocked you haven't heard from your employer's workers' compensation ("WC"). WC is mandatory, and you should not have to initiate a claim.
But, if you've heard nothing since June, you need to get a WC attorney ASAP and get the claim process started. I ER'd from insurance claims management, with most of my expertise in WC. If you need some general guidance, let me know.
+1

If you got injured on the job you are protected by the Workers compensation act. You should not have been forced to retire. If you cannot perform your duties due to the injury you should be collecting 60% of your wages and all medical expenses should be covered @100%.

Get a WC lawyer ASAP and I hope you get well soon.
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