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Old 03-07-2014, 08:29 PM   #41
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I would say after you've made that year's 401k contributions, received your bonus and the weather is going to be good. Don't retire into a cold winter.
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Old 03-08-2014, 10:27 AM   #42
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Originally Posted by ducky911 View Post
It is nice to make earned income so you can put into your ira one last time. So end of January would get my vote. Another good time would be the day you cash your bonus check.
+1

Gave notice the day it hit my account, as did my spouse. So, those last bonuses turned out to be a double bonuses in many ways.

Three years later, I can't think of a thing we might have done differently, timing wise, if that helps.
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Old 03-08-2014, 11:05 AM   #43
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Always retire on the first workday at the beginning of a new month. For most employers, your company benefits won't expire until the end of the month in which you retire. This means one less month of COBRA or other means of paying for your own benefits (besides the usual premiums they deduct from your check, which will be a lot lower).
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Old 03-08-2014, 11:16 AM   #44
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Like others have mentioned, it is nice to have certain benefits already paid for the whole year that you can retain even if going out early. In my case some periodicals and the Admiral's Club membership. Some may have access to health club memberships, CE credits, professional license re-imbursement, that sort of thing.
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Old 03-08-2014, 11:22 AM   #45
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Rules change over time

Discovered a recent rule change with my employer that if one retired mid-year, it would count as a full year of service! My escape was five months sooner than planned. It does pay to check the fine print!
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Old 03-08-2014, 11:29 AM   #46
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I would say after you've made that year's 401k contributions, received your bonus ...
+1 and in my case, cashing on stock option that is vested in June. So, I am targeting July for my good riddance time.
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Old 03-08-2014, 01:11 PM   #47
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My last day of work will be July 31st this year 2014.I have enough sick bank and vacation to get me to early February 2015.That gets me extra on my pension and a full HSA bank to use.
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Old 03-08-2014, 05:30 PM   #48
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March 8
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Old 03-08-2014, 05:42 PM   #49
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I had always planned on the spring and in about 7 weeks my plans will come to fruition.
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Old 03-09-2014, 07:11 AM   #50
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I calculated July. The reasoning, max out the 401k one last time. Fill up the 15% bracket. Looking to ACA Medicaid so I don't have to worry about annual income throwing me out of qualification, since Medicaid is monthly based.

Also we accrue vacation time quarterly, so July earns me 7 more days.
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Old 03-09-2014, 08:16 AM   #51
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I retired on the last day of July 2011. That date was chosen is a result of Megacorp letting me know that they no longer valued my contributions back in March. During the ensuing months I performed various financial transactions, estimates and projections to ensure that I could have a net positive cash flow indefinitely. Since Megacorp prorated the annual bonus for retirees, it made little difference when I left for that standpoint. In 2012 I received the prorated annual bonus for work performed in 2011. The nice thing about that was that the amount of the bonus was based on target bonus without the influence of my former local management chain. Used to the local management chain had to approve the bonus for recent retirees and would frequently allocate nothing to the recently retired. A lawsuit changed that sometime on the past.
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Old 03-09-2014, 09:34 AM   #52
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March 8
March 9 would also work.
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Old 03-09-2014, 02:34 PM   #53
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I retired effective Jan 1 from a public sector job. I was able to cash out my vacation days and was able to dump most of it in my retirement account for the next year. It covered my annual contribution along with make up. It helped keep my taxable income down for the previous year which was also maxed out in contributions. Getting that last check in January gave me a lot of flexibility.
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Old 03-09-2014, 02:45 PM   #54
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March 9 would also work.
+1
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