Target acquired... gave notice yesterday

[joylesshusband]

Aiming at mid-July exit.

Plans are finalized, what's left is just a bit of waiting. The clock's ticking...

Non-COLA pension, just about sufficient to cover the very basic expenses. Includes survivor benefit, meaning that DW would do just fine if I check out early.
Employer-paid retiree medical coverage until Medicare time, then a subsidy almost matching the Medicare premiums.
Investments are sized to ensure the fun money for the discretionary expenses.
Provided that SS (discounted to 75% of the original benefit) starts @ age of 70, investment withdrawals would no longer be necessary at that stage, unless we amp up charity.

Megacorp can go fly a kite. The end of the prostitution phase is in sight!

 

[CardsFan]

Aiming at mid-July exit.

Plans are finalized, what's left is just a bit of waiting. The clock's ticking...

Non-COLA pension, just about sufficient to cover the very basic expenses. Includes survivor benefit, meaning that DW would do just fine if I check out early.
Employer-paid retiree medical coverage until Medicare time, then a subsidy almost matching the Medicare premiums.
Investments are sized to ensure the fun money for the discretionary expenses.
Provided that SS (discounted to 75% of the original benefit) starts @ age of 70, investment withdrawals would no longer be necessary at that stage, unless we amp up charity.

Megacorp can go fly a kite. The end of the prostitution phase is in sight!

Congratulations!

Don't forget, you may not NEED investment withdrawals at 70, but Uncle Sam will insist on it (if in an IRA or 401k). Gotta pay those taxes!

 

[Dtail]

Congrats. Sounds like you are all set, especially in the medical expense area.

 

[joylesshusband]

Congratulations!

Don't forget, you may not NEED investment withdrawals at 70, but Uncle Sam will insist on it (if in an IRA or 401k). Gotta pay those taxes!

The Uncle will get his cut on SS and pension, but that's where I draw the line - by 70 everything else will be neatly stashed in Roth.

 

[flintnational]

Congratulations!

 

[JDARNELL]

The end of the prostitution phase is in sight!

Classic! Congrats.

 

[VanWinkle]

You sound more than ready for this!

Congrats on preparation and upcoming blast off.

VW

 

[kimcdougc]

Congratulations!. The best is yet to come. Wish I had your medical all tied up like you do. Great job.

 

[Red Badger]

Congrats! Well played (and well stated). Welcome to the Free Zone. It's FUN over here. As others attest on this forum, Sunday evening will likely become your favorite night of the week.

 

[Dtail]

Congrats! Well played (and well stated). Welcome to the Free Zone. It's FUN over here. As others attest on this forum, Sunday evening will likely become your favorite night of the week.

Only to be followed by my favorite day. See my sig line.

 

[joylesshusband]

Thanks, fellows!

Someone mentioned my medical coverage being neatly tied up.
It is, but it has, like most things in life, a price tag.
To get it (along with the somewhat decent although far from generous pension) I had to stay with this employer for 19 years, deliberately ignoring some pretty nice opportunities elsewhere.
I can now say it was worth it though...

 

[IMATERP]

I guess it's time to bend over and scream - YEEHAW!

 

[golfnut]

I guess it's time to bend over and scream - YEEHAW!

Why he do that? Is he still working?

 

[Zorwarrior]

Congrats joylesshusband...the light is at the end of the tunnel and not that far!

 

[Rothman]

Congrats joylesshusband on fire, is it a Roth conversion plan or did you have a lot of 401k in Roth already?

 

[cooch96]

Bravo!

 

[NW-Bound]

Congratulations!. The best is yet to come. Wish I had your medical all tied up like you do. Great job.

Once again, how could I miss a chance of posting a song?

PS. Will the OP be changing his screen name?

The Best Is Yet To Come
Out of the tree of life I just picked me a plum
You came along and everything's startin' to hum
Still, it's a real good bet, the best is yet to come
The best is yet to come and babe, won't that be fine?
You think you've seen the sun, but you ain't seen it shine​

 

[cnocmmz]

Congrats.....Almost there

 

[joylesshusband]

Thanks again, folks, and especially NW-Bound for the song!

No plans to change my screen name. I picked this moniker after much consideration, mainly aiming to piss my dear wife off once she found out.
I'm told that I have succeeded.

Congrats joylesshusband on fire, is it a Roth conversion plan or did you have a lot of 401k in Roth already?

Most of our stash is in 401(k) and traditional IRA, some - in taxable, and very little in Roth.
I am starting conversions later on this year as it is the first year I'm "light" in earned income and have room for conversion in a tolerable tax bracket. I plan to convert most to Roth before I hit 70, which is likely but depends on the actual portfolio growth rate in the next 11 years.

 

[Milton]

Provided that SS (discounted to 75% of the original benefit) starts @ age of 70, investment withdrawals would no longer be necessary at that stage, unless we amp up charity.

At that point, what would you be saving it for? "You can't take it with you", "shrouds have no pockets", etc.

 

[Gunny]

Well done and congratulations. Welcome to the fold.

 

[joylesshusband]

At that point, what would you be saving it for? "You can't take it with you", "shrouds have no pockets", etc.

Who said anything about saving?
I'm gonna blow that dough baby!

I only said "withdrawals not necessary", it does not mean that withdrawals would cease whatsoever...
Besides, if inflation gets above 3.5% and stays there, it would erode my non-COLA pension to the extent that withdrawals may become quite necessary...
My "planning" spreadsheets cover up to 3.5% long-term inflation, and the stash for beyond 70 is the back-up.

We don't care much about whether we leave anything to heirs - both our kids have been properly trained in self-sufficiency, and are doing quite well practicing it. And both know that we are not paying for weddings or any other such foolishness...