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11-13-2015, 12:34 PM
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#1
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Recycles dryer sheets
Join Date: Jul 2008
Posts: 150
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Very soon
I've not been here for sometime now so I just want to let you all that I've finally decided to pull the plug. Told my boss that I'm ready to retire last week. I don't have a fixed date yet but I hope that they just lay me off so I collect a few months of unemployment before I start to draw from my 401K. I'll be 60 in a few months and have about 800K in cash/stocks. My house is paid for and is worth around 650K. I hope this will be enough but even if it's not enough I will still call it quit since I just can't take it anymore.
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11-13-2015, 01:21 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,932
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Congratulations, and I wish you the best of luck in your upcoming retirement. Not being able to take it anymore is a great motivator.
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11-13-2015, 01:52 PM
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#3
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Full time employment: Posting here.
Join Date: May 2013
Posts: 727
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As the old saying goes, retirement happens at the intersection of I've had enough with I have enough. I wish you the best and hope the latter is true...
__________________
“If you don't do it this year, you will be one year older when you do.” - Warren Miller
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11-13-2015, 03:30 PM
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#4
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Moderator
Join Date: Jul 2010
Posts: 7,941
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Welcome back, huusom, and congratulations on your decision. Hope you can set a date soon and start that countdown calendar.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
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11-13-2015, 04:48 PM
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#5
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Full time employment: Posting here.
Join Date: May 2011
Posts: 873
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Congrats! You will enjoy your new life!
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11-17-2015, 09:48 AM
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#6
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Recycles dryer sheets
Join Date: Jul 2008
Posts: 150
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Thank you all for the encouragement. We went to see our Charles Schwab financial consultant yesterday to crunch some number and it looks good. The wife is happy to get a second opinion from a real pro than just my words.
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11-19-2015, 01:34 PM
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#7
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Recycles dryer sheets
Join Date: Jun 2015
Posts: 239
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Congrats! You made the right choice!
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11-20-2015, 03:16 PM
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#8
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Recycles dryer sheets
Join Date: Nov 2015
Posts: 206
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Congratulations! Pray that they will lay you off so that you can draw unemployment for a while and you can hang onto your retirement funds a little longer.
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11-20-2015, 03:20 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2014
Posts: 7,373
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Unemployment requires that you actively seek another job. Why would it be paid to a retiree?
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11-20-2015, 03:40 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
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 Quote:
Originally Posted by athena53
Unemployment requires that you actively seek another job. Why would it be paid to a retiree?
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That is the $64K question... It's because he is laid off. He will need the time to decide whether he wants to go back to work. I would collect it too. It's no different than any other benefit, except the employee actually pays for it.
Once you are receiving a pension, or SS, you are officially retired.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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11-20-2015, 04:11 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,985
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Quote:
Originally Posted by athena53
Unemployment requires that you actively seek another job. Why would it be paid to a retiree?
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There are plenty of people out there that realize after a period of time that they are retired after being laidoff. I fail to see any problem with someone approaching this proactively.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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11-20-2015, 04:27 PM
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#12
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Recycles dryer sheets
Join Date: Nov 2015
Posts: 206
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In some cases, unemployment pays more than the pension plan and someone that has been laid off would be better off holding off on retiring and just collect unemployment until their mind has cleared on whether or not to retire.
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11-20-2015, 04:44 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,342
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Sounds like you are more than ready for retirement huusom. Welcome to the world of professional layabouts. If you enjoy it half as much as we do (and I can tell you will), you'll be having a ball!
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
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01-14-2016, 10:34 AM
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#14
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Recycles dryer sheets
Join Date: Jul 2008
Posts: 150
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Finally
Update:
I did not win the Power Ball yesterday but tomorrow is my last work day. I'm feeling great.
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01-14-2016, 10:53 AM
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#15
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
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Congratulations huusom! Much less hassle than winning the power ball.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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01-14-2016, 10:56 AM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Awesome! 
What will you do all day?
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01-14-2016, 01:23 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
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Congrats!
__________________
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
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01-14-2016, 02:00 PM
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#18
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Full time employment: Posting here.
Join Date: May 2011
Posts: 873
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Congrats!
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01-15-2016, 07:01 AM
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#19
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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Going from an unbearable work situation to retirement sounds like a good decision, congrats!
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01-15-2016, 07:18 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,962
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Enjoy! As I say all of the time, the novelty never wears off.
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