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Recently and happily retired at 58
Old 06-14-2015, 10:23 PM   #1
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Recently and happily retired at 58

I have been a lurker for several years and following the discussions here helped me in my decision to ER at age 58 last year. So far it has been an excellent move.

I think my overall financial situation is similar to many of the single FIRED folks near my age on this forum - home paid for, a decent DB pension coming in a few years, now spending from > 1 million savings, and SS (expect to take at age 70) eventually providing a final (inflation-proof) backstop. One small deviation from the standard profile - I spent some years working in another country and that will result in a small foreign government pension and a corresponding WEP reduction in my SS.

Anyways it was finally time for me to join up. Now that I am ERed I have some questions that I hope can benefit from the wisdom of the folks here. Hopefully now I will have to time to contribute a bit to some of the discussions too.
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Old 06-14-2015, 11:06 PM   #2
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Welcome.

I agree with you - retirement has been an excellent move.
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Old 06-15-2015, 09:43 AM   #3
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Are you close to 30 years of meaningful compensation under social security? Not certain how much your WEP reduction might be; but, it could be worth it to pursue a couple of years of part-time work if you are close. My recollection is that 30 years of social security participation with a meaningful wage eliminate WEP.
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Old 06-16-2015, 12:16 AM   #4
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Quote:
Originally Posted by robertf57 View Post
Are you close to 30 years of meaningful compensation under social security? Not certain how much your WEP reduction might be; but, it could be worth it to pursue a couple of years of part-time work if you are close. My recollection is that 30 years of social security participation with a meaningful wage eliminate WEP.
That's a good point. I have 27 years of substantial SS earnings and indeed 3 more years would eliminate the WEP reduction. The SS threshold for substantial annual earnings in 2015 is > $22,000. Right now I am not interested in that much PT w*rk, but maybe between now and beginning SS at age 70 I will find some PT employment opportunities interesting enough to tempt me back to w*rk....
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Old 06-16-2015, 12:04 PM   #5
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Welcome and hope that we can help overcome some of your misinformation.
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