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Old 04-04-2013, 10:25 AM   #41
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I will also go with CONGRATULATIONS! You'll be fine, and I'm sure you will enjoy being a kept man for a little while.
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Old 04-04-2013, 10:28 AM   #42
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Reduction In Force, a layoff.
Also "resistance is futile", which is also strangely accurate when it comes to the Borg-like corporate machine and its whims...
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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)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 04-04-2013, 10:30 AM   #43
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I will also go with CONGRATULATIONS! You'll be fine, and I'm sure you will enjoy being a kept man for a little while.
If DW stays with this at her current salary for 15 years, FIREcalc is showing 100% success. So there is little need to rush into anything that isn't just right.

I've had to knock my expected SS down a bit if I'm not feeding that beast any more, though. Having only 30 years of earnings history will be a bit lower than having 40+, but not sure how much less yet (I'm guessing 10-15% less but I could be wrong -- I'll crunch that one later).
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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)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 04-04-2013, 01:24 PM   #44
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If DW stays with this at her current salary for 15 years, FIREcalc is showing 100% success. So there is little need to rush into anything that isn't just right.

I've had to knock my expected SS down a bit if I'm not feeding that beast any more, though. Having only 30 years of earnings history will be a bit lower than having 40+, but not sure how much less yet (I'm guessing 10-15% less but I could be wrong -- I'll crunch that one later).
If I'm not mistaken, SS is calculated based on 35 years of earnings, so the difference may not be as large as 15%.

I have enjoyed reading your posts over several months, and I am sorry that you weren't able to leave megacorp on your own terms. I think your attitude is amazing, however.

Last week my department was hit with a RIF - 2/3 of the folks were told their jobs will be gone within the next few months. Since we only have a total of 3 people in the department, that makes me the sole survivor. When they come for me in the next wave (and I expect they will) I will take inspiration from how you are handling this unexpected change in circumstances. Best of luck to you and Mrs. Rev Ziggy!
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Old 04-04-2013, 01:40 PM   #45
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I have enjoyed reading your posts over several months, and I am sorry that you weren't able to leave on your own terms. I think your attitude is amazing, however.
The way you wrote this makes it sound like I announced I'm leaving the forum! You can't get rid of me that easily; it takes more than a corporate layoff to stop me. Maybe a silver bullet...
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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)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 04-04-2013, 01:55 PM   #46
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The way you wrote this makes it sound like I announced I'm leaving the forum! You can't get rid of me that easily; it takes more than a corporate layoff to stop me. Maybe a silver bullet...
OMG - that is NOT what I meant! I fixed it; see above.
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Old 04-08-2013, 07:40 PM   #47
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SS is based on your 35 highest earning years - if less than 35 years the other years are based on zero income. For most people the more recent years at much higher incomes are what drives the final number. I have run my social security numbers and if I had 5 more years of high earnings vs early retirement and leaving in 5 early years with incomes of less than $20K it only affects my projected FRA number by about $10 a month.
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Old 04-08-2013, 07:47 PM   #48
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SS is based on your 35 highest earning years - if less than 35 years the other years are based on zero income. For most people the more recent years at much higher incomes are what drives the final number. I have run my social security numbers and if I had 5 more years of high earnings vs early retirement and leaving in 5 early years with incomes of less than $20K it only affects my projected FRA number by about $10 a month.
Good to know -- I was thinking it was 40 for some reason. I already have 31 years (including 2013) in my earning history. That means a lot fewer zeroes in the calculation.
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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)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 04-08-2013, 09:24 PM   #49
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I have run my social security numbers and if I had 5 more years of high earnings vs early retirement and leaving in 5 early years with incomes of less than $20K it only affects my projected FRA number by about $10 a month.
I did the same calculation, with approx the same results. It's amazing that the later, higher-earning years matter so little in the final SS monthly check amounts (even if these high-pay years replace earlier zeros).
-- I suspect folks inclined to ER who go to the trouble to crunch these numbers find one more reason to ER.
-- Regarding raising the cap on wages subject to FICA taxes: Whatever the other merits of this proposal, I think it's useful to remember that many high wage earners are already contributing quite robustly to the "fund" in relation to their expected personal benefit from the program.
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Old 04-08-2013, 10:11 PM   #50
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SS is based on your 35 highest earning years - if less than 35 years the other years are based on zero income. For most people the more recent years at much higher incomes are what drives the final number. I have run my social security numbers and if I had 5 more years of high earnings vs early retirement and leaving in 5 early years with incomes of less than $20K it only affects my projected FRA number by about $10 a month.
thats not totally correct-although it replaces zeros its how much you made in a given year versus the maximums in that given year.

for instance(this is not exact) if 30 years ago you made 10000 a year and the max was 20000 it would be like making 50000 a year now with the cap at 100,000.

its how much money you made in relation to the cap(point at which no more ss taken out of your pay). thats why if you have 35 years in but you are at the same level versus the cap now the dollars don't change much
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