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Old 06-30-2015, 01:41 PM   #21
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I get called out once a month always at some ungodly hour. Yes I have been on call since day 1. There has been a trend to let off shoring take the phone calls since they are usually 8 -10 hours ahead of us. But in the end, I usually get called because they can't figure it out.
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Old 06-30-2015, 02:19 PM   #22
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......I figure that I will need a $1000 a month for beer, golf, dining, medical expenses, sporting events, beer, gas, beer and what ever is not covered as a fixed expense.....

I do something a little wierd with my paycheck. I have figured out the monthly costs for all my annual, quarterly and semi-annual bills. I put away money each month in subaccounts that represents my bills. So when the bill comes up, I will have the money in hand....

This is my plan for expenses after July 10th.
So long as you keep the beer sub-account fully funded, you should be good to go!

Congrats!
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Old 07-01-2015, 07:17 AM   #23
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Yep it has been a long career.I have gone from punched cards on the old IBM 370 to laptops. A lot of IT knowledge is going down the drain as we dinosaurs exit for greener pastures. Regarding expenses, my pension check covers all my fixed expenses plus an extra $150 left over. I figure that I will need a $1000 a month for beer, golf, dining, medical expenses, sporting events, beer, gas, beer and what ever is not covered as a fixed expense. I will draw from my company 401K which will allow me non penalized withdrawls because I am over 55. At age 59 1/2, I will start drawing on my IRAs. I also have an AMERIPRISE annuity (I know.. don't throw barbs at me) coming available at age 65. I have no debt other than credit cards which I pay off each month. I do something a little wierd with my paycheck. I have figured out the monthly costs for all my annual, quarterly and semi-annual bills. I put away money each month in subaccounts that represents my bills. So when the bill comes up, I will have the money in hand. One could make the argument that squirreling away for example the real estate tax of two payments each year for $3500 is not putting your money to work in the best way. However, I have peace of mine that the money is there. I could earn a little more with money market accounts or short term bonds but it is easy doing all of this in my credit union savings accounts which do earn a small interest rate. I also use subaccounts for expected purchases down the road. For example, I get mulch for the yard every two years. I put away $15 a month for that. I downloaded an app that keep track of expenses during the month offfset from an initial balance. I do this on the fly for cash stuff. I input my credit card expenses from QUICKEN afterwards. This is for expenses not covered by my pension and subaccounts. As I get closer to the $1000 budget for the month, I can have the option of avoiding some discretionary spending. As a reward to myself, any money left over at the end of the month goes to one of my VANGUARD accounts. Large payment such as vacations will come from other savings that are not part of this. This is my plan for expenses after July 10th.
Greathusky74; Congrats to you. Your method of accounting describes our approach almost to a tee. On the first of the month, (today as a matter of fact) after our various pension checks have been deposited to our primary checking account, I transfer a sizable set amount into a separate savings account, which incidentally I don't include in our investable assets. I maintain a spreadsheet on this account that has perhaps 25 sub categories for all expenses that are not monthly, from real estate taxes to insurance premiums, medical copays, dental, eye, pet care, lawn care and grounds maintenance, charitable giving, travel, gifts, kennel, etc. Part of that monthly transfer also includes an escrow for car replacement and big ticket repairs such as roof, furnace, house painting and appliance replacement. You get the picture. The rest of the monthly pension checks cover our regular monthly expenses with money left over. At the beginning of the following month I transfer the amount left over into a miscellaneous category in the same savings account. Rinse and repeat. We inevitably find reasons to raid the miscellaneous category and I'm glad we have established that category. For example we discovered we had to replace our five skylights last month. We hadn't realized that skylights have a fixed life. It was good to be able to dip into that miscellaneous category to partially cover the sizable unplanned Capital expenditure. Many would say that these machinations I go through monthly are just a shell game. It's all just one big pile of money however I find that when the irregular bills come in I am serene in the knowledge that the money is already set aside and will not diminish our Net Worth. Sounds like you have a similar approach.
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Old 07-01-2015, 10:03 AM   #24
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Golden Sunsets.. we are kindred spirits I was glad to read that someone else is doing this.
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Old 07-01-2015, 11:23 AM   #25
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Originally Posted by Greathusky74 View Post
1. Volunteer at some local animal rescues.

2. I am attempting to complete all the bike rides in a book titled "50 Short Bike Rides in Connecticut".

3. Daily jog.

4. Exercise class at the YMCA.

5. Reading novels.

6. Many home projects to complete.

7. Work towards completing #Operation351. My lifelong goal is to attend a college basketball game at all 351 Division 1 campuses. I did 16 last year and started a blog to chronicle my travels

8. Traveling with my wife.

9. Complete binge watching Arrested Development, Cheers and Parks and Recreation.

10. Hiking the many beautiful trails in Connecticut.

11. I am the sole care provider for my 88 year old mother who lives 40 minutes away. I have many projects there as well.

12. Continue volunteering as a board member for the YMCA and local land trust.

And I'm just getting started....
Stop! You are making me tired.
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Old 07-01-2015, 03:49 PM   #26
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Congrats on your retirement! We retired in Feb. and haven't had time to slow down and realize we are retired! Welcome to the club!
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Old 07-09-2015, 08:20 AM   #27
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Yep it has been a long career.I have gone from punched cards on the old IBM 370 to laptops. A lot of IT knowledge is going down the drain as we dinosaurs exit for greener pastures.

Regarding expenses, my pension check covers all my fixed expenses plus an extra $150 left over. I figure that I will need a $1000 a month for beer, golf, dining, medical expenses, sporting events, beer, gas, beer and what ever is not covered as a fixed expense. I will draw from my company 401K which will allow me non penalized withdrawls because I am over 55. At age 59 1/2, I will start drawing on my IRAs. I also have an AMERIPRISE annuity (I know.. don't throw barbs at me) coming available at age 65.

I have no debt other than credit cards which I pay off each month.

I do something a little wierd with my paycheck. I have figured out the monthly costs for all my annual, quarterly and semi-annual bills. I put away money each month in subaccounts that represents my bills. So when the bill comes up, I will have the money in hand. One could make the argument that squirreling away for example the real estate tax of two payments each year for $3500 is not putting your money to work in the best way. However, I have peace of mine that the money is there. I could earn a little more with money market accounts or short term bonds but it is easy doing all of this in my credit union savings accounts which do earn a small interest rate.

I also use subaccounts for expected purchases down the road. For example, I get mulch for the yard every two years. I put away $15 a month for that.

I downloaded an app that keep track of expenses during the month offfset from an initial balance. I do this on the fly for cash stuff. I input my credit card expenses from QUICKEN afterwards. This is for expenses not covered by my pension and subaccounts. As I get closer to the $1000 budget for the month, I can have the option of avoiding some discretionary spending. As a reward to myself, any money left over at the end of the month goes to one of my VANGUARD accounts.


Large payment such as vacations will come from other savings that are not part of this.

This is my plan for expenses after July 10th.






Cool. I do the same thing with sub-accounts, it all about what works and it works for me as well. Congrats for sticking with one company for so many years, and I am sure they will miss all that knowledge leaving he company
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Old 07-09-2015, 12:05 PM   #28
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Congratulations!

I am another dinosaur likely on my way next month.

Personally, I am considering opening some kind of consulting practice with exorbitant rates fro doing IBM/390 assembler, COBOL, JCL, etc. Interested?
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Old 07-09-2015, 12:32 PM   #29
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Hi CoolChange Thanks for the offer but I have checked out. No more IT for me. Good luck!
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Old 07-09-2015, 01:55 PM   #30
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...
Regarding expenses, my pension check covers all my fixed expenses plus an extra $150 left over. I figure that I will need a $1000 a month for beer, golf, dining, medical expenses, sporting events, beer, gas, beer and what ever is not covered as a fixed expense. ...
You may want to move beer into fixed expense (Where I personally think it belongs, anyway.)

Welcome to the forum!

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Old 07-10-2015, 10:01 AM   #31
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Congrats on your big day!
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Old 07-10-2015, 10:25 AM   #32
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Congrats! We are going to need a follow up post after your last day.
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Old 07-10-2015, 10:43 AM   #33
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Today's the day! Congrats!!
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Old 07-10-2015, 11:06 AM   #34
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Yes, today's the day! Congratulations and enjoy!
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Old 07-10-2015, 12:56 PM   #35
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Congrats! Since you were such a voracious saver in the past, I hope you
don't experience the difficulty in spending some of that hard earned
cash like I did when I first ERed.
Took 4 months before I started to adjust.
This has crossed my mind too, I'm aiming to bail out before Christmas. I have always saved money and I'm wondering if I can change my habits and spend it and live a little, in time I'm sure it will happen. I can't wait!
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Old 07-10-2015, 02:25 PM   #36
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1. Volunteer at some local animal rescues.

2. I am attempting to complete all the bike rides in a book titled "50 Short Bike Rides in Connecticut".

3. Daily jog.

4. Exercise class at the YMCA.

5. Reading novels.

6. Many home projects to complete.

7. Work towards completing #Operation351. My lifelong goal is to attend a college basketball game at all 351 Division 1 campuses. I did 16 last year and started a blog to chronicle my travels

8. Traveling with my wife.

9. Complete binge watching Arrested Development, Cheers and Parks and Recreation.

10. Hiking the many beautiful trails in Connecticut.

11. I am the sole care provider for my 88 year old mother who lives 40 minutes away. I have many projects there as well.

12. Continue volunteering as a board member for the YMCA and local land trust.

And I'm just getting started....
Congrats Husky! Your list looks eerily similar to mine. Instead of your Operation 351 I am going to do an MLB stadium tour.
I plan to retire from IT at 57 this year also (November)...and I can't wait!
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Old 07-10-2015, 03:24 PM   #37
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I am now officially free. Time for 9 holes and my first retirement Landshark.

Thanks everyone for their best wishes!
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Old 07-10-2015, 08:29 PM   #38
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I am now officially free. Time for 9 holes and my first retirement Landshark.

Thanks everyone for their best wishes!
Enjoy your first Monday morning of sleeping in!
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Old 07-10-2015, 09:11 PM   #39
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Hi Trooper good luck with Operation MLB. You have a much better chance than me to completing your goal. I figure that I will be in my late 70s in order to complete my quest.
I am fortunate that Alaska does not have a DI college team but Hawaii does which does give me an excuse to go back there.
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Old 07-10-2015, 09:55 PM   #40
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