First retirement check

[Hermit]

Quote:

Originally Posted by PERSonalTime Just wondering, has anyone else paid off their mortgage?

Sold the house, paid off the note, (happens when you sell the house.) Now I am happy to be both j*bless and homeless!

I'll keep this short. There's another thread discussing the RV life.....

[redduck]

I received my first social security check (direct deposit) almost 2 1/2 years ago (age 67 1/2 ish). I remember being pretty darn happy, but, mostly being pretty darn relieved that social security was actually working--at least for me). And even now when the monthly deposit shows up, it's like a gift for being old. An enlarged prostate is also like a gift for being old, but perhaps that's off topic.
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Married, both 58. DH retired June, 2010. I have a pleasant, little part time job.

[Sue J]

Quote:

Originally Posted by PERSonalTime Great! Just wondering, has anyone else paid off their mortgage?

Our mortgage was already paid off by the time DH retired. His final paycheck included an additional 500 hours of accrued vacation time minus a whole lot of Federal and State withholding tax. Still, it was the biggest hunk of money we had ever seen in the checking account.

We paid off the remaining small balances of 2 credit cards and both sons' student loans. Those had always been understood to be our debt. Then we took them out for dinner and gave them their Paid In Full receipts for their records.

So we entered DHs retirement debt free and both of our sons were also debt free.

Two days later the first pension deposit landed in the checking account.

[akck]

No first check yet, but I got my benefit analysis stating what we'd be getting. It ended up being about $10 more than I expected. I should get something within the next 10 days.

[LinCella]

I'm still waiting for PERS to process my sick leave into service credit but they said that could take 6 months. I think it will be around $10 more but that's a couple of beers!

[PERSonalTime]

Quote:

Originally Posted by linny727 I just got my first full pension check this past Friday and was so giddy I could hardly stand it. I didn't have to look at my old boss' nasty face for a whole month and I got paid not to!! It ain't a huge amount of money but it's huge enough for me - it has given me incredible freedom.

Congrats Linny727! The freedom thing really is great. Also, the reduced stress is incredible. I bet you can hardly wait for the second full check (me too!)? The second check will prove that we're not dreaming, but are in fact "living the dream."

[Mulligan]

Quote:

Originally Posted by linny727 I'm still waiting for PERS to process my sick leave into service credit but they said that could take 6 months. I think it will be around $10 more but that's a couple of beers!

Good for you Linny. My experience from my pension system was the opposite. My first pension check was about $150 more a month than I was guessing it to be, but of course I didn't mind.... Until my second check when it was $300 less than the first one, because they stated they accidentally added my sick pay into my pension income and needed to remove it. At least they didn't determine this a year later and take it back, I guess...

[akck]

Well, I'm now an official member of the retirement community. I got my first check! All future checks should be direct deposited around the 25th of each month. I couldn't be any happier, especially since I did things I wanted to do last month, instead of going to work.

[LinCella]

That's harsh, Mulligan!

I will be receiving new amount with my sick leave added in. Gross amount is $27 added in. Unfortunately I had a very bad few years health wise and had almost no sick leave left. Still, $27 is $27.

[LinCella]

PERSonal time, you said it, the freedom is worth it! I retired 6 months earlier than planned because I couldn't stand it anymore. The pain outweighed the extra money I would have gotten.

[Dcharles]

I saw my first check deposited and almost cried! I can't believe I am finally being paid with our savings and retirement plan. It is an awesome feeling!

[martyp]

Quote:

Originally Posted by PERSonalTime Can anyone remember what it was like to receive their first retirement check? It sure is an exhilarating occasion. It's really mind blowing to think that you're getting paid when you've been nowhere near your office, desk, or computer at work. Please describe how you felt on this joyous occasion.

It feels like magic . . .that's what it feels like.

[Alan]

Quote:

Originally Posted by PERSonalTime Can anyone remember what it was like to receive their first retirement check? It sure is an exhilarating occasion. It's really mind blowing to think that you're getting paid when you've been nowhere near your office, desk, or computer at work. Please describe how you felt on this joyous occasion.

I am now receiving 3 pension checks from 3 different sources, and they all feel great every month. Over the next 11 years DW and I should experience that first time pension check another 4 times

The quarterly dividend check from Vanguard is also pretty nice

[Chuckanut]

I sleep later. Drink more coffee. Read the paper. Meet friends for lunch. Eat better food. Avoid rush hour traffic. Travel off season. And at the end of the month they send me a check. What a great life!

[PERSonalTime]

Quote:

Originally Posted by Dcharles I saw my first check deposited and almost cried! I can't believe I am finally being paid with our savings and retirement plan. It is an awesome feeling!

When I got my first check and went to the bank to withdraw some cash, I walked slowly toward the door waiting for someone to stop me and say there was some mistake with the retirement deposit to my account. When that didn't happen, I jumped for joy all the way to my car! It was great.

[PERSonalTime]

Akck,

Congratulations on your first check! Any special first check spending treats that you will give yourself?

[Cassie]

Quote:

Originally Posted by Amethyst I retired from Fed service (CSRS) on 3 January (supposedly "the best day" for CSRS people). My agency closed me out a couple of weeks ago, but I've not heard from OPM, and can't get through on their phone line. I expected at least to get a CSA Number by now, if not an interim partial payment. My application was "vanilla," so I don't know what the hitch is. Because OPM is not communicating, I'm filling the empty space with worrying and speculation. It is frustrating not to hear anything. Amethyst

I too retired Jan 3rd, (CSRS) received annual leave lump sum Jan17 and received 1st interim deposit Feb 3. I also received a password from OPM with the website I can go to to check my deductions and other stuff. HOWEVER, when I tried to call the # in the correspondence it didn't ring, it was like the phone was dead. I was calling to find where I get the "claim number" the website said I needed. When I return from celebrating my retirement in New Orleans I hope I have more information. Good luck Amethyst...hope there's a positive update from you soon.

Cassie