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Old 12-20-2014, 01:16 PM   #261
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You can put me on that list for June 2015 age 52.
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Old 12-22-2014, 01:21 PM   #262
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I will be 58 1/2 on October 1, 2015. Been reading some articles that there is an irs option to withdraw from 401 or Ira prior to 59 1/2 with no penalty. Anyone ever done this?.. If so, I might be joining the class of 2015.



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Old 12-22-2014, 01:41 PM   #263
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Originally Posted by Joe0401 View Post
I will be 58 1/2 on October 1, 2015. Been reading some articles that there is an irs option to withdraw from 401 or Ira prior to 59 1/2 with no penalty. Anyone ever done this?.. If so, I might be joining the class of 2015.



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Yes there's many posts, lets review quickly.
1. The Summary Plan Description (SPD) must allow for it. The SPD should be available through your benefits department.
2. Your benefits department(plan sponser) must give you a way to access these funds. Some reported it's a once and done as you roll it out. Not all are that way, mine allows for monthly withdrawls either pre defined or ad hoc.
3. There's no 10% penalty but you still owe tax. They automatically withhold 20% but will do more.
4. Edit to add: I believe that rule only applies to 401k not IRAs, please check.

If that fails you can always do a 72t
Best wishes.

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Old 12-22-2014, 02:26 PM   #264
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Originally Posted by ikubak View Post
So, based on the list, we have the following 12 possibly strutting through that door of early retirement in January:

7. Utrecht - Jan 2015 - Age 50
10. SonnyJim - January 1. 2015 - age 48
13. Options - January 2015 - 59.5
16. Shabby - January 2015 - age 48
19. BrianB - January 2015 - age 56
33. johnnyfuego - Jan-March 2015, age 52
40. FatCyclist - January 2, 2015 age 57
42. 2B - Jan 2015 age 63
43. tuffshed - January 2015 age 60
47. Travel4Fun - Jan 2015, age 50
52. texcurtis - January 31, 2015, age 54
57. Spudd - January 30, 2015, age 42

Some may have changed their minds or changed their dates, but it would be nice to hear from each about their plans.
I'm still on track to resign January 5, 2015. My boss has been wonderful. There is no animosity or repressed anything. It's just time to go. I'll stay for a reasonable transition. I could be days or it could be two months. I'll get a better idea when I resign but I'm expecting the traditional two weeks. Business is rather slow right now and he may appreciate not having one more person to find work for.
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Old 12-22-2014, 02:28 PM   #265
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guess I am luck 13 - Jabbahop Jan 2015 - age 54 and 11 months


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Old 12-22-2014, 03:42 PM   #266
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Join Date: Apr 2014
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Can add me to the list - Whisper66, March 1, 55 yrs old.

This forum has been an excellent way to explore various questions I had about retirement over the last several months. Seems like every question i had has been asked before and answered from several points of view. So have been lurking and learning for awhile and decided to pull the trigger last week. I'll have a couple weeks to close this chapter of my life and then off to the next chapter. Very much looking forward to it. Thanks for all of you that contribute to this board. Will do my best to offer good contributions of my own now.
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Old 12-23-2014, 07:46 AM   #267
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Quote:
Originally Posted by ikubak View Post
So, based on the list, we have the following 12 possibly strutting through that door of early retirement in January:

7. Utrecht - Jan 2015 - Age 50
10. SonnyJim - January 1. 2015 - age 48
13. Options - January 2015 - 59.5
16. Shabby - January 2015 - age 48
19. BrianB - January 2015 - age 56
33. johnnyfuego - Jan-March 2015, age 52
40. FatCyclist - January 2, 2015 age 57
42. 2B - Jan 2015 age 63
43. tuffshed - January 2015 age 60
47. Travel4Fun - Jan 2015, age 50
52. texcurtis - January 31, 2015, age 54
57. Spudd - January 30, 2015, age 42

Some may have changed their minds or changed their dates, but it would be nice to hear from each about their plans.
I'm on track for Jan 5, 2015, age 55

Have already hinted to co-workers that after the Holiday break, and the slow down and change in business strategies my Co is taking, time for me to move on.

I don't want to stay longer than 2 weeks. And I have reserves built up so that I can afford the month or two to get the Pension benefit work in and the details worked out.

I don't plan on any 401k withdrawals (using the Rule of 55 provision in our plan) until late in 2015 as I may not need to.

I've got SO much to do in 2015!
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Old 12-23-2014, 09:28 AM   #268
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It does my heart good to see so many people lining up for 2015. Congratulations to all of you!
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Old 12-25-2014, 07:02 AM   #269
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Thanks, Chuckanut!
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Old 01-01-2015, 11:21 AM   #270
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Happy to join the class of 2015. Very exciting year ahead, only 8 months left.

1. Ikubak - April - age 52
2. LoneAspen - Feb - age 48
3. Neihn - Dec -
4. Fourchristians - June
5. ABQ2015 - March - 59
6. Live and Learn - March - 52
7. SkeetShooter - December
8. DanD76 - June
9. Utrecht - Jan - Age 50
10. haloFIRE - August 14th - age 47
11. Patagonia August Age 45
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Old 01-01-2015, 11:27 AM   #271
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Originally Posted by Patagonia View Post
Happy to join the class of 2015. Very exciting year ahead, only 8 months left.

1. Ikubak - April - age 52
2. LoneAspen - Feb - age 48
3. Neihn - Dec -
4. Fourchristians - June
5. ABQ2015 - March - 59
6. Live and Learn - March - 52
7. SkeetShooter - December
8. DanD76 - June
9. Utrecht - Jan - Age 50
10. haloFIRE - August 14th - age 47
11. Patagonia August Age 45

45 is way too young, you need to suffer a bit more!
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Old 01-01-2015, 11:53 AM   #272
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45 is way too young, you need to suffer a bit more!
I'm retiring in June or July at 57. (I will continue to work about 15 hours/week online, so call it semiretire. We're moving West.)
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Old 01-01-2015, 03:43 PM   #273
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45 is way too young, you need to suffer a bit more!
You are quite young yourself, congrats.
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Old 01-01-2015, 04:06 PM   #274
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Posts: 1,282
1. Ikubak - April/May 2015- age 52
2. LoneAspen - Feb 2015- age 48
3. Neihn - Dec 2015-
4. Fourchristians - June 2015
5. ABQ2015 - March 2015- 59
6. Live and Learn - March 2015- 52
7. Utrecht - Jan 2015 - Age 50
8. haloFIRE - August 14, 2015 - age 47
9. Phil1ben - June 1, 2015 - age 55
10. SonnyJim - January 1. 2015 - age 48
11. Theseus - July 2015 - age 59 (moved up to 2014 - congrats )
12. biker4life - July 2015 - age 45
13. Options - January 2015 - 59.5
14. Al - June 2015 - age 52
15. Siamond - July 2015 - age 53
16. Shabby - January 2015 - age 48
17. jcretire77 - April 2015 - age 55
18. Fermion - Oct 2015 - age 45
19. BrianB - January 2015 - age 56
20. RobLJ - May thru August - age
21. FreqFlyer - Feb 2015 - age 43
22. Hiker88 - August 2015 - age 55
23. Enjoylife133 - December 2015 - age 60
24. Jpearl - July 2915 - age 43
25. iac1003 - April 2015 age 63.5
26. kern44 - June 2015
27. Fedup - Dec 2015 age 55
28. Mo Money - April 2015 age 53
29. Aus_E_Expat- April 2015, age 56
30. rodi - April 2015, age 53
30. vireo- June 30, 2015. Age 60
31. Travelwanted - June 2015, Age 43
32. Rdub - May 2015, age 45
33. johnnyfuego - Jan-March 2015, age 52
34. Islandtraveler - July 2015 age 56
35. kimcdougc - Feb. 1, 2015 age 57
36. 3800Fiero - Feb 2015 age 57
38. cbo111- Sep 2015 age 57
39. Planner - April 30, 2015 age 53
40. FatCyclist - January 2, 2015 age 57
41. Oreogn - Feb 2015 age 58
42. 2B - Jan 2015 age 63
43. tuffshed - January 2015 age 60
44. trirod - December 2015 age 48
45. jabbahop - Feb 2015 age 54/55 (depending whether I go before Feb birthday)
46. nuke_diver
47. Travel4Fun - Jan 2015, age 50
48. robnplunder - July 2015, age 53
49. Bryan Barnfellow - July 17, 2015
50. Taxman59 - July 1, 2015
51. nuisance - Q2 2015
52. texcurtis - January 31, 2015, age 54
53. OBXretire - July 1, 2015
54. Punxsyboy
55. Philliefan33
56. pinejake - March 5, 2015, age 56
57. Spudd - January 30, 2015, age 42
58. bingybear - Feb 28, 2015, age 53

add me @ the end
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Old 01-01-2015, 07:48 PM   #275
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Add me, May 1. 57


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Old 01-01-2015, 10:58 PM   #276
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On the street on 15 Jan. Age 67. At liberty to pursue other interests.
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Old 01-02-2015, 09:14 AM   #277
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Join Date: Jan 2015
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Longtime lurker here but only saw this thread today and decided to register and join the party. You can count me in the Class of 2015. March 31st, age 63.

I'm looking forward to participating!
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Old 01-02-2015, 09:59 AM   #278
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I already have my resignation letter crafted and ready to turn in in early February, but I'm unsure if I'll actually walk out the door that month or not. We have an ESPP payout in early March, and I might decide to wait it out for that.

A lot depends on the next five weeks. There are some really nasty projects being dumped on our team, and I might be so sick of it by then that I tell them to shove it, and still leave in February two weeks after turning in notice.

Time will tell I suppose. Either way, I'll be quitting them this year. I'm sick of the place, and IT, so time for me to exit stage left.
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Old 01-02-2015, 01:34 PM   #279
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The "I don't work here anymore" voice mail and auto-reply e-mail messages are set, the office is cleaned out, the computer is wiped, and I've gone home. I still have one more "official" act--buy my team a beer at 4:00. But other than that, I'm retired!
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Old 01-02-2015, 01:44 PM   #280
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Update...

My manager just submitted a one-day PTO request for me in our HR system because today was technically a work day but I didn't go in today.

He knows I'll have to work one or two days over next weekend because of a major deployment happening that I have to participate in, so I was planning on taking a "comp day" or two to make up for it. We even talked about it.

So much for that plan I guess. He's kind of a passive/aggressive personality, and has done at least one other douchebag move to a teammate that I know of, so it doesn't surprise me.

I can't wait until I shove my resignation letter in his face five weeks from now. I'm supposedly the only person on the team marked as "key personnel" (I was the first person to form our team over 3 years ago) so I bet that, and his personality, means he's going to panic when I give notice. I anticipate he's going to throw money at me (promotion, salary increase, RSUs, etc), and get the Senior Director, VP, and maybe even the two co-founders and CEO to talk me into staying, but it won't do any good. My BS bucket is full, and I'm ready to tell them to go shove it.

Five more weeks until I call my manager into a meeting room for a "one on one" and shove that resignation letter across the desk. I can't wait.

EDIT: Congrats, FatCyclist! Enjoy your newfound freedom!!!
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