Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
First Pension Check
Old 05-29-2015, 03:07 PM   #1
Full time employment: Posting here.
jjquantz's Avatar
 
Join Date: Jan 2014
Location: Northern Virginia
Posts: 847
First Pension Check

First deposit of teacher pension today, time for Roy Acuff...

__________________

__________________
jjquantz is offline   Reply With Quote
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!

Old 05-29-2015, 03:15 PM   #2
Recycles dryer sheets
 
Join Date: Jul 2014
Posts: 60
Congrats and happy retirement!
__________________

__________________
I find this early retirement topic sooo very overwhelming.
lampshade is offline   Reply With Quote
Old 05-29-2015, 03:20 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,875
Congratulations!

The checks from OPM for June 1st are already being "predicted" in our on-line savings account! Of course, the after-tax money is already totally committed for June.

Amethyst
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success to be able to spend your life in your own way. Christopher Morley.
Amethyst is offline   Reply With Quote
Old 05-29-2015, 03:37 PM   #4
Thinks s/he gets paid by the post
steelyman's Avatar
 
Join Date: Feb 2011
Location: Triangle
Posts: 3,218
Now that's a reason to celebrate!

A couple of years ago, an old friend of mine who was eligible before I was sent an email with the subject, "Magic happened today!". Then he said what he meant. Great email for me to wake up and read and no doubt better for him to send.

Congratulations!
__________________

steelyman is offline   Reply With Quote
Old 05-29-2015, 03:54 PM   #5
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
I still remember getting the first one, I guess everybody does. It just seems so miraculous - all I have to do is keep breathing and they send me money every month!
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 05-29-2015, 07:03 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Yea! Free money for life! How cool is that?
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 05-29-2015, 07:50 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,875
Not free...cost me 7% of my salary for 34 years, and the tax people chomp a big bite out of each check.Still it's predictable, and that's important.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success to be able to spend your life in your own way. Christopher Morley.
Amethyst is offline   Reply With Quote
Old 05-29-2015, 08:34 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by Amethyst View Post
Not free...cost me 7% of my salary for 34 years, and the tax people chomp a big bite out of each check.Still it's predictable, and that's important.
We didn't contribute to our pension plans so for us it is free money.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 05-29-2015, 08:45 PM   #9
Full time employment: Posting here.
UnrealizedPotential's Avatar
 
Join Date: May 2014
Posts: 573
Quote:
Originally Posted by daylatedollarshort View Post
We didn't contribute to our pension plans so for us it is free money.
I am not allowed to contribute towards my pension, even if I wanted to. I am not sure I would if I could. There are alot of other options. But I am lucky to have a pension.
__________________
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
UnrealizedPotential is online now   Reply With Quote
Old 05-29-2015, 09:03 PM   #10
Full time employment: Posting here.
jjquantz's Avatar
 
Join Date: Jan 2014
Location: Northern Virginia
Posts: 847
Thanks, everyone. It is a memorable day. It is very odd to think that this income stream will last until both DW and I are gone and that could be 40 years or more. Pensions are pretty remarkable things.
__________________
jjquantz is offline   Reply With Quote
Old 05-29-2015, 09:11 PM   #11
Recycles dryer sheets
 
Join Date: May 2014
Location: Yuma AZ
Posts: 270
Pension, free? It cost me 30 years of dedicated service.
__________________
unno2002 is offline   Reply With Quote
Old 05-29-2015, 09:25 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,423
DH's first pension direct deposit was June 1, 2010. Monday it will be 5 years. I still giggle a little on the first of the month.

His pension is COLAed, a fixed 3% of the first year, added every year on June 1st so he's getting a nice raise.
__________________
Married, both 62. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 05-29-2015, 10:19 PM   #13
Full time employment: Posting here.
ohyes's Avatar
 
Join Date: Sep 2010
Posts: 649
Congrats, jjquantz! DH and I both enjoy teacher pension deposits (paid 15% in for 30+ years) PLUS DH now gets a SS check.
My parents, who grew up during the Depression, have tried to scare me about pension check disappearing in the near future.
So far, they are wrong and the deposits keep coming. It's awesome!
__________________
ohyes is offline   Reply With Quote
Old 05-29-2015, 10:20 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by unno2002 View Post
Pension, free? It cost me 30 years of dedicated service.
Many people have 30 years of dedicated service and no pension. In our case we were getting paid market rates for our salaries, so the pensions were icing on the cake. YMMV. Free money for us.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 05-30-2015, 10:46 AM   #15
Thinks s/he gets paid by the post
steelyman's Avatar
 
Join Date: Feb 2011
Location: Triangle
Posts: 3,218
Here's what is almost better, jjquantz (maybe better depending on your point of view):

Your Second Pension Check!

Again, congratulations!
__________________

steelyman is offline   Reply With Quote
Old 05-30-2015, 11:05 AM   #16
Full time employment: Posting here.
 
Join Date: Apr 2006
Posts: 944
My pension increases 8 percent every year I don't take it til 65. So I putting it off, not sure I will wait all the way to 65 tho. It will be really nice and a little weird to start getting money every month again
__________________
Freed at 49. You only live once - live it
Donzo is offline   Reply With Quote
Old 05-30-2015, 12:04 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,370
Quote:
Originally Posted by Sue J View Post
DH's first pension direct deposit was June 1, 2010. Monday it will be 5 years. I still giggle a little on the first of the month.

His pension is COLAed, a fixed 3% of the first year, added every year on June 1st so he's getting a nice raise.

That was about the time I started collecting. I was always a bit nervous about the check for the first year or so. Not only was I not used to receiving money not to work, but I also was adjusting to direct deposit. I was "old school" until the end, insisting on that paper check to touch before depositing.


Sent from my iPad using Tapatalk
__________________
Mulligan is online now   Reply With Quote
Old 05-30-2015, 01:05 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,880
Congrats to OP on pension starting.

Each month we receive, at various times, a number of DB and DB-like income streams (DW teachers, my military, my VA, my civilian, and three SSA) that flow into our checking account as if by magic.

It made me smile when they stared and it makes me smile each month that they roll in.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 05-30-2015, 01:12 PM   #19
Recycles dryer sheets
 
Join Date: Feb 2013
Posts: 377
My June check already in my account - hooray for direct deposit. Mine wasn't free either, I contributed every paycheck and I worked hard for 28 years at a low pay. Now I reap the rewards. But it does feel "free" - it comes every month and I am happy as a clam that I chose public service.
__________________
LinCella is offline   Reply With Quote
Old 05-30-2015, 01:20 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,880
Quote:

My June check already in my account
That's probably your May check. Spend away!
__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Reply


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
Law school debt (check), debt paid down (check), retirement (...) WhatsinaName Hi, I am... 7 08-13-2014 03:13 AM
First Pension Check.... ls99 FIRE and Money 6 12-02-2008 09:41 AM
First Pension Check just arrived txdakini Life after FIRE 11 04-06-2007 11:09 PM
Fan lined up?check.Excrement ready to hit? check poboy Other topics 130 04-23-2006 09:48 PM
Living Check To Check: Saving Too... MYPROcheckGRESS Young Dreamers 38 02-16-2006 04:36 PM

 

 
All times are GMT -6. The time now is 05:57 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.