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Old 06-02-2009, 06:04 PM   #41
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Before we retired and DW was anxious about leaving her job, we were driving to WV to see what progress had been made on the new house. Lamenting "What am I going to do?" at the same time we were passing a bar with nude dancers with a "dancers wanted" sign out front I suggested that as an employment possibility.

She was most emphatically not amused.
Actually I would be quite flattered if anyone thought my body was good enough at my age to bring in any income of any type. My DH keeps telling me that if I worked at a strip club the patrons would probably pay me to put my clothes back on.
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Old 06-02-2009, 06:13 PM   #42
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Actually I would be quite flattered if anyone thought my body was good enough at my age to bring in any income of any type.
There is the option of medical experiments or selling body parts...
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Old 06-04-2009, 07:51 AM   #43
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I ran Firecalc before I retired in October 2007 and I was in good shape then. I havn't bothered to rerun it with todays numbers, but I still feel pretty good. Currently our income comes from a pension, dividends, and my wife has a part time teaching job at the local college that pays very well.

Cola Pension 69%
4% from investments, 16%
Wifes part time job, 15%

We can get by with the Pension alone and our net worth is still growing. I don't keep track of everything like I should, but currently the wifes check just goes to Vanguard and we havn't had to sell any stocks or withdraw any of our principal.

The pension is a big part of our retirement, but we also were given the option of buying additional years of credit, and did with the proceeds from another retirement account, the additional years locked us into a higher payment and allowed us to buy health insurance at the group rate.
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Old 06-04-2009, 10:47 AM   #44
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Actually I would be quite flattered if anyone thought my body was good enough at my age to bring in any income of any type. My DH keeps telling me that if I worked at a strip club the patrons would probably pay me to put my clothes back on.
...and he's still alive? ...or does DH stand for dead husband now?....
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Old 06-04-2009, 12:13 PM   #45
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Retire Age 57 year 2024

FERS Pension after Survivor Ben. Ded. 42%
TSP Withdrawls 29% (3% withdrawl rate)
My SS (or FERS Supplement til 62) 14%
Military Reserve Pension 8%
DW SS 7%


Will use buckets of set aside $$ to compensate for gap until Mil Pension starts at 60 and DW SS starts at 62.

Counting on TSP balance based on 4% future returns and continuing my current contribution rate.

Above SS percentages are based on SS only living up to 50% of what the SS website calculators say we should get. (just to add a level of safety)

Also pension is based on current Federal position Grade which I anticipate will be one or two higher over the next 15 years.
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Old 06-04-2009, 05:08 PM   #46
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I see a lot more pensions that I expected. I wonder how different it is among 20 or 30 somethings?

I'll have a FERS pension at 25 or 26%, or maybe 30% if I work until age 60
Military pension at age 60 of about $6K a year (national guard retirement)
SS looks pretty decent according to my recent statement.

hard to tell what % of my income it will be, I'm only 42 now.
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Old 06-04-2009, 05:46 PM   #47
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I see a lot more pensions that I expected.
I don't think it should seem too surprising that the population of people who could FIRE would be overrepresented by folks with pensions. I think it's fairly apparent that it is one of the most predictive factors in whether or not someone will be able to retire early.
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I wonder how different it is among 20 or 30 somethings?
Public sector or private sector? Even those young'uns in government jobs may not feel confident that they'll get their pension in 20-30 years. You know how that generation feels about their chances to get SS...
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Old 06-04-2009, 06:17 PM   #48
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I see a lot more pensions that I expected. I wonder how different it is among 20 or 30 somethings?
The question was asked of those who have retired. Retirement has gone from a (primarily) pension system to a (primarily)401K system in recent years.

I would be shocked to find that the majority of present retirees did not have a pension, since most of their working years were done under the pension system (for most employers).

I would also be shocked to find the same to be true when most retirees are those who are now 20 or 30 somethings. Most of their working years will have been done after the switch from pension to 401K for most retirement systems.
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Old 06-05-2009, 12:14 AM   #49
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I don't think it should seem too surprising that the population of people who could FIRE would be overrepresented by folks with pensions. I think it's fairly apparent that it is one of the most predictive factors in whether or not someone will be able to retire early.
it seems to me that if a pension (life annuity) is such a major factor in the ER equation there shouldnt be such an aversion to SPIAs on this board. based on what u said it seems to me they definately have there place in most everyones retirement plans. i can remember trying to point out the advantages of an SPIA a couple of years ago and getting major opposition by the likes of CFB; and i made the case on an income arguement (i showed they provided a higher income then the 4% rule), not the guarantee arguement. looks like times, they have a changed!

o and ps, if u dont remember i am not an annuity or insurance salesman/agent
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Old 06-05-2009, 09:18 AM   #50
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it seems to me that if a pension (life annuity) is such a major factor in the ER equation there shouldnt be such an aversion to SPIAs on this board.
I don't think there's as much blanket aversion to SPIAs as with most other annuity products. I'd actually consider converting part of my savings to an SPIA in the future if conditions are right. The two main concerns I have with SPIAs right now are (a) low long term Treasury rates mean a low monthly payout relative to the amount purchased, and (b) insurer risk.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 06-05-2009, 10:35 AM   #51
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Looking in the crystal ball in 2017 at age 59 1/2:

Non-COLA pension approx. 67%
Portfolio withdrawals 33%

Planning to delay SS until at least full retirement age.
DW gets small pension at age 65.
After taking SS, portfolio would serve as inflation protection against a large drop in standard of living.

Anyway, that's our best laid plan. But who knows what changes may be required as the years progress?
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Old 06-05-2009, 06:05 PM   #52
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...and he's still alive? ...or does DH stand for dead husband now?....
Problem is I couldn't dispute what he was saying. As to selling body parts, unless there is an underground market for fat I doubt I have anything worthwhile to offer. However, it does play out in my favour, as DH is so desperate for me to return my body to the shape he married that I have been able to use the excuse I am too tired after bootcamp workout everyday to do housework and he doesn't mind. Not sure what my house is going to look like after a month, however I think he might be asking that I demand my money back because I don't think I am going to be smoking hot in another 3 weeks.
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Old 06-05-2009, 08:50 PM   #53
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Retired, age 62:
Social Security25%
Wellesley dividends30%
IRA withdrawals20%
Nude modeling income10%
"Will work for food" solicitations8%
Blood plasma sales2%
Medical research income (chigger itch study participant)2%
Aluminum can redemptions2%
Fire ant pelt sales1%
You just can't find good fire ant pelts north of the mason dixon. Maybe I could start a distributorship?

Free - to pelt
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Old 06-06-2009, 10:42 AM   #54
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You just can't find good fire ant pelts north of the mason dixon. Maybe I could start a distributorship?

Free - to pelt
Good cat toys? Add a little catnip and I'll order a pound o pelts.
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Old 06-06-2009, 10:50 AM   #55
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Retired...sorta.

Pension COLA 80%

DW's pension non-COLA 20%

Temp/PT j*bs 10%

Yea it adds up to more than we need, mostly from w**k that I do from time to time because I still like to add $ to my savings/investments rather than spending it all. (LBYM lives on)
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Old 06-06-2009, 11:28 AM   #56
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Semi-retired since the fall of 2006, age 51, partner age 50. No pension and SS is a long way off. In 2008:

13% part-time work as a tax preparer
3% summer gig as a field evaluator ("mystery shopper")
84% interest/savings liquid cash asset bucket

Similar figures likely for 2009.
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Old 06-06-2009, 11:25 PM   #57
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Age 49, retired since 1999
Typical year (after last year who know what that is)
Interest 25%
Dividends 37%
Cap gains 28%
Roommate 10%
Pension 0%, Nada, zip.

At age 62 SS will increase my income by 20%. My intention is to take it early and pay it back if that law is still in effect.
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Old 06-07-2009, 01:44 PM   #58
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Plan to RE in January at age 55.

First 7 years should be as follows

Non-Cola Pension 1 66%
Non-Cola Pension 2 6%
Wellesley dividends 22%
Cash draw down 6%

Not sure after that - depends on what happens between then and now

At 62 DW will probably start drawing SS, at 65 I start pension 3 (COLA)
At 66 I will probably start drawing SS
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Old 06-07-2009, 02:42 PM   #59
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COLA Pensions spouse and I - 100%

Retired in Nov 08 at 45 years old. Dividends/Interest/Capital Gains/losses are being rolled into CDs and Money Market. Looks like we are spending about 90% of pension income and slowly building a larger cash cushion. We are in holding pattern on major purchases/vacations until we sell some property in NC. Still trying to use quicken for all money tracking purposes and slowly closing some areas where funds "leak" .

Jim
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Old 06-07-2009, 04:57 PM   #60
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COLA Pensions spouse and I - 100%

Retired in Nov 08 at 45 years old.
I clearly entered the wrong line of work, or at least picked the wrong employer...
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RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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