Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
Just Joined
Old 04-08-2006, 12:34 PM   #501
Full time employment: Posting here.
Dog's Avatar
 
Join Date: Apr 2006
Posts: 782
Just Joined

I just joined the forum. I am in a down-shifting mode working towards ER. I accepted a generous ER and severance package from Verizon two years ago. Accepted a job with a utility two months later and plan on working three more years (while we build and furnish our retirement home) and then leave the corporate world to start a small business. My husband will continue working for another eight years to qualify for his ER. We are looking forward to a slower pace and time to enjoy our hobbies and time w/friends.
__________________

__________________
"Tell me, what is it you plan to do with your one wild and precious life?" - Mary Oliver
Dog is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Just Joined
Old 04-08-2006, 01:40 PM   #502
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Just Joined

Quote:
Originally Posted by Dog
I just joined the forum.* I am in a down-shifting mode working towards ER.* I accepted a generous ER and severance package from Verizon two years ago.
Welcome to the board, Dog, I bet Verizon would have lots of people asking for their special ER packages...
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline  
Re: Introduce yourself here!
Old 04-09-2006, 06:23 PM   #503
Recycles dryer sheets
Elderdude's Avatar
 
Join Date: Jun 2005
Location: Sacramento, Calif
Posts: 210
Re: Introduce yourself here!

Hi,
I'm 64 and retired for almost four years now. Still adjusting to the fact that I don't have to do nuthin'.
__________________
Elderdude is offline  
Re: Introduce yourself here!
Old 04-09-2006, 06:31 PM   #504
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Introduce yourself here!

Welcome to the board, Elderdude...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline  
Re: Introduce yourself here!
Old 04-13-2006, 08:45 AM   #505
Confused about dryer sheets
 
Join Date: Jul 2005
Posts: 6
Re: Introduce yourself here!

Hello, my name is peakanese (A location, not a canine). Here is my story.
I am a 54 year old electric utility worker, married with two grown girls and soon to be a grand parent. Our combined salaries are $130K. We both are burned out and long for early/semi retirement. We plan to pull the plug in mid-2007. My wife plans to work part time in the Temp Worker field and I plan to teach guitar and build furniture in my shop. We also plan to do a modest amount of travel. Here is our net worth situation.

Emergency Fund 20K
Regular Investments 158K
IRA 227K
401K 277K
Cash Balance Plan 342K

Total 1024K

Total debt is 19K home equity loan that will be paid off from salaries by mid-2007. We are currently saving at least 15% of our salaries. We own our home, 7 acres of land and a 2000 sq ft shop/boat storage/my dog house building, total value of about 300K. We plan to live off of our part-time work, savings and post-tax investments until 59.5 when I can tap into everything else. Our expenses are under 3K per month. The pre-tax stuff should grow during this time to the point that we can then live off of the gains. The investments are with VG and a Wachovia account that will be switched to VG at an opportune time (read back-end loaded). We are well diversified, 60/40 split. Will increase the equity portion to about 70% when the cash balance money is available.
Health care is not a huge hurdle as my company will be subsidizing my costs to the tune of apprximately 13K per year. We will use this to purchase a suitable policy.

I have one question. When I receive the Cash Balance money upon retirement, can I cash out a portion and pay taxes as ordinary income and roll the remainder into an IRA without the 10% penalty?

I have done a lot of reading and will adhere either to the 4% SWR or the Rational Investing theory for the long haul.

The big question is, what do you guys think about my plan?
__________________
peakanese
peakanese is offline  
Re: Introduce yourself here!
Old 04-14-2006, 02:31 AM   #506
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Re: Introduce yourself here!

Hi Peak- one question, I didn't see any mention of pension. As a utility worker, don't you have some pension?

With or without, you sem to be in pretty good shape. Congrats.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline  
Re: Introduce yourself here!
Old 04-14-2006, 08:56 AM   #507
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Introduce yourself here!

Quote:
Originally Posted by peakanese


I have one question. When I receive the Cash Balance money upon retirement, can I cash out a portion and pay taxes as ordinary income and roll the remainder into an IRA without the 10% penalty?

You should be able to rollover the entire cash balance plan into an IRA with no penalty. See IRS publication http://www.irs.gov/pub/irs-pdf/p575.pdf. To avoid the 10% penalty for early withdrawls for cash you need now, you might consider taking 72t distributions from the rollover IRA. A discussion about these early distributions can be found at http://www.retireearlyhomepage.com/wdraw59.html
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline  
Re: Introduce yourself here!
Old 04-16-2006, 11:14 AM   #508
Confused about dryer sheets
 
Join Date: Apr 2006
Posts: 1
Re: Introduce yourself here!

Hello all,

I'm a 39 y/o from California. I used to frequent the REHP on Fool website. Our cash flow and investing have been thrown out of whack with 3 kids in the last 6 years.

Now that the dust has settled a little, I'm hoping to get back on track with investing. We've dropped from 2 incomes to less than 1 income, so we can stay home and care for the little ones. We're still using the LBYM principles and investing as much as we can manage.

Thanks to all of you for providing inspiration, encouraging words and support.
__________________
tdtg is offline  
Re: Introduce yourself here!
Old 04-16-2006, 11:37 AM   #509
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Introduce yourself here!

Welcome to the board, tdtg!

Quote:
Originally Posted by tdtg
I used to frequent the REHP on Fool website.
It'd be interesting to hear your historical perspective on how that place changed...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline  
Re: Introduce yourself here!
Old 04-17-2006, 11:13 AM   #510
Confused about dryer sheets
 
Join Date: Jul 2005
Posts: 6
Re: Introduce yourself here!

Thanks Martha for the good information. I might have to use the SEPP to ensure I have enough cash flow for the first few years.

HaHa, I opted for the Cash Balance Plan instead of the Final Average Pay Plan some years back. In essence, the Cash Balance is my pension. I just get it all at one time, when I quit working for this company.
__________________
peakanese
peakanese is offline  
New to Forum
Old 04-17-2006, 01:35 PM   #511
Confused about dryer sheets
 
Join Date: Apr 2006
Posts: 1
New to Forum

Hello, I am new to the forum and its tools.
My situation is that I will have a defined benefit of around $40k/yr at age 53 (three years) and ~$185k of savings. I also have a house and some other assets that are of questionable value.

So, I am going to bug out and do something else in two or three years.

Receeding Hairline
__________________
receedinghairline is offline  
Re: Introduce yourself here!
Old 04-17-2006, 02:51 PM   #512
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Re: Introduce yourself here!

receedinghairline welcome,

With the assets you described it sounds like enough to live all but an exotic lifestyle. If you have reasonable medical coverage then you have all the elements. You can even choose to work a bit occasionally, at something you like, if you want to build up finances. But looks like you are on target for financial independence, which is what I think *it* is all about.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline  
Re: Introduce yourself here!
Old 04-23-2006, 09:22 AM   #513
Dryer sheet wannabe
 
Join Date: Apr 2006
Posts: 10
Re: Introduce yourself here!

Hi. I heard about this forum from a friend. I have been visiting this forum as a guest & have learned alot from the various posts. Thanks for all the information.

Bison74

__________________
bison74 is offline  
Re: Introduce yourself here!
Old 04-23-2006, 11:32 AM   #514
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Introduce yourself here!

Welcome to the board, bison. Always good to see a lurker de-cloak...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline  
retirement
Old 05-07-2006, 08:06 PM   #515
Confused about dryer sheets
 
Join Date: May 2006
Posts: 3
retirement

hi all,
i'm retiring soon (two months), we have about 1million in an ira plus a small pension,(20,000). we need help getting a plan that will carry us for about 35 years. sorry we will get abour 18000 from soc sec. in 3years. it would be nice to have about 80,000 ayear. i think it is possible. we need a plan, i'm looking for advice, an asset allocation plan would be great.
what we need is a logicial plan with a 50/50 allocation , if this can be done please help us. what mutal funds do we need.
thanks,
eddie

EDIT: Deleted blank space
__________________
eddie is offline  
Re: Introduce yourself here!
Old 05-08-2006, 11:43 AM   #516
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: Introduce yourself here!

Welcome to the board, eddie. I see you're getting answers in your other posts, so I'll take a look over there.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline  
Re: Introduce yourself here!
Old 05-09-2006, 06:39 AM   #517
Confused about dryer sheets
 
Join Date: May 2006
Posts: 4
Re: Introduce yourself here!

Hello! I am new to this board and sure glad I found it.* Wish I knew about this last year.* It would have sure helped.

I was in the high-tech biz and was on the verge of a heart attack.* Major player in the sales game, with major stress.* My company went bankrupt 6/2002.* I decided to take 3 months off, that turned into 2 years.* RTW travel and enjoying life...cheaply.

I came back to the rat race after getting married again and hated it (not the marriage!).* I guess not wearing socks for close to 6 months took its toll.* Saying nothing about not wearing a suit and tie.* I hung in there for about a year, but when my old friend (and now new boss) started ragging me for performance, I just couldn't take it.* So...I spent 3 months dodging him and planning my escape.* Luckily, the real estate market really helped!* Put me over the edge financially.* I sold everything, or gave it away.* I am living very nicely on about 4k per month, with more coming along due to 401ks and SS (hopefully!).

I am back to traveling and loving it.* Visiting various "cheap" locations around the world looking for a place to call home for some time.* I don't have children, but do have a wife who does not work.* I am 48...so the decision was tough.*

I had a great condo in Manhattan that we loved!* Leaving all those luxuries behind was initially tough...but as I am sitting here in Chiang Mai, Thailand, in shorts, flip flops and a t-shirt...life could not be better.* I would never go back.

I will probably end up doing something to help put a few bucks into the bank account...but it will be on my terms, and doing something I really like.* Not selling high-tech crap to corporate rats...sorry for the wording there...

I would love to hear from anybody who lives overseas.* Thailand is high on my list, but will be touring South and Central America after the holidays.* Any recommendations on nice places to live would be great!

Craig
__________________
craigt3365 is offline  
Re: Introduce yourself here!
Old 05-19-2006, 03:23 PM   #518
Dryer sheet wannabe
 
Join Date: May 2006
Posts: 15
Re: Introduce yourself here!

Oops, I forgot to introduce myself before I made my first post.

I am 29 and live in Northern California with my darling wife.* I am a consultant and she is a teacher (bless her heart).

We have been trying to balance paying off student loans with saving for retirement as well as see as much of the world as we possibly can.* We try to live simply and hopefully we will be able to retire early and enjoy a very long retirement.

We don't have any kids yet, but we probably will within the next few years.*

We just bought our first house last October. Yeah thats right we timed the top of the market perfectly.* Nonetheless, we really love the house we live in and have enjoyed all the joys of homeownership.

Thanks for providing a forum for people to get/give information about personal finance.

gmt
__________________
gmt is offline  
Re: Introduce yourself here!
Old 05-19-2006, 03:33 PM   #519
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Introduce yourself here!

welcome, gmt, you work on the atomic clock or something?

What do you consult on?
__________________
laurence is offline  
Re: Introduce yourself here!
Old 05-19-2006, 04:03 PM   #520
Dryer sheet wannabe
 
Join Date: May 2006
Posts: 15
Re: Introduce yourself here!

Hi Laurence, thanks for the welcome.

I consult on alternative energy projects.

gmt
__________________

__________________
gmt is offline  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Re: Introduce yourself here! choices1945 Hi, I am... 3 05-04-2007 07:14 PM
Time to introduce myself... bugs8 Hi, I am... 5 04-22-2007 07:45 PM
Allow me to introduce myself eyenitnoy Hi, I am... 10 06-14-2006 07:01 PM
Finally Going to Introduce Myself TromboneAl Hi, I am... 14 05-03-2005 10:49 AM
Introduce yourself here GoulashBrother Hi, I am... 17 10-28-2004 03:21 PM

 

 
All times are GMT -6. The time now is 01:43 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.