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Re: The flurry of ERs
Old 03-16-2006, 09:17 AM   #61
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Re: The flurry of ERs

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Do you normally get Labor Day off on Monday 4 Sep?

Maybe you should enjoy the three-day weekend (get paid for it too!) and retire on Tuesday the 5th?
That's a good idea but...

If your MegaCorp is like my MegaCorp you are required to retire on the first day of the month.

So maybe your plan would work and maybe it won't.
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Re: The flurry of ERs
Old 03-16-2006, 12:30 PM   #62
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Re: The flurry of ERs

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Originally Posted by MasterBlaster
JonnyM:

I suspect that you can only do the 1 day per week thing for a couple of years. After that the company will have moved on. After the next round of budget cuts you'll be line-item vetoed.

Still that may not be too bad of a way to ease on in to ER.

- Good luck with your ER
Bullseye, I expect thats about the maximum duration that it still might be "fun" as turnover after one year (when my current excellent boss retires) likely would ruin the "independence" of the position I'm going to create outside the normal chain of command. I see this as 'Sall Good!
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Re: The flurry of ERs
Old 03-19-2006, 09:51 PM   #63
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Re: The flurry of ERs

I am strongly considering going sooner than 09/01/06. My daughter's boyfriend is leaving for the Navy 6/21/06 and this is the first summer that she will not be in band, which normally took up most of her summer. This will be her last summer at home and would hopefully be a good time for us to bond and take some trips. Either that or we might not be speaking by the end of the summer! Who knows, but I think that I would like to find out. She is really, really close to her boyfriend and I would like to be there for her when he leaves.

My husband is not retired. He is 54 yrs old and has been at his present job since 1991. He never worked an extremely long time at any one place, so he does not have a good pension to rely on. He will probably work until 62, when he can get his social security and a smaller pension. He likes his job and is a person that likes to stay busy. He has been a volunteer firefighter, EMT and Hazmat person in addition to his regular job in the past. He does alot of stuff around the house now, so it will be better for him after I retire, as I plan to do more around the house.

The very latest that we can take the early retirement is 09/02/06. There is no reason to wait until the second, since it is a Saturday. We can retire anytime we want in a month, but it is better to take it on the 1st, 2nd or 3rd if you are under the CSRS system because you can receive a pension for the rest of the month. If you retire on the 4th or later then you have to wait until the next month for the pension.

I have been working since I was 15 yrs old and I just turned 53, so this is a scary feeling. It is also such a foreign concept for me to think that I am not going to have to go to work and I am still going to get a check!

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Re: The flurry of ERs
Old 03-19-2006, 10:07 PM   #64
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Re: The flurry of ERs

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Originally Posted by Dreamer
I have been working since I was 15 yrs old and I just turned 53, so this is a scary feeling. It is also such a foreign concept for me to think that I am not going to have to go to work and I am still going to get a check!
Take it from someone who has recent first-hand experience, the scary feeling transitions to a feeling of euphoria pretty quickly.

I'm sorry that I can't help you with the part about still getting a check even though you will no longer have to go to work. But for some of us, the "not having to go to work" part was definitely worth giving up "getting a check".

Go for it!

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Re: The flurry of ERs
Old 03-20-2006, 05:11 PM   #65
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Re: The flurry of ERs

After the day I had today, I am strongly considering 06/02/06. I come home exhausted and don't want to do anything. My spouse had 2 tickets for a nice dinner for a charity and I begged off and asked him to take a friend instead of me going tonight.

I can't wait for retirement and the feelings of euphoria!!!!

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Re: The flurry of ERs
Old 03-20-2006, 05:26 PM   #66
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Re: The flurry of ERs

I'm thinking 3/19... :P
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Re: The flurry of ERs
Old 03-21-2006, 06:08 PM   #67
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Re: The flurry of ERs

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Originally Posted by Dreamer
After the day I had today, I am strongly considering 06/02/06.

I can't wait for retirement and the feelings of euphoria!!!!

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Re: The flurry of ERs
Old 03-21-2006, 06:33 PM   #68
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Re: The flurry of ERs

We have always been limited in the amount that we can contribute to our Thrift Savings Plan (401K) if you are under the old civil service system. This is the first year that we are not limited and can contribute the same as any one else, $15,000.00 and $5,000.00 catch up. I am trying to max that out before I leave. I grew up poor and I do not want to end up that way again!

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Re: The flurry of ERs
Old 03-21-2006, 09:25 PM   #69
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Re: The flurry of ERs

Just do it. Took me a year to get up the courage to pull the trigger and I can now barely wait for 4/28/06 to come. Have worked very hard and steady for 35 years straight, but nothing can now stand in my way to freedom.
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Re: The flurry of ERs
Old 03-22-2006, 06:16 AM   #70
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Re: The flurry of ERs

AltaRed, are you staying South or heading home to qualify for Ralph's latest giveaway
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Re: The flurry of ERs
Old 03-22-2006, 10:16 AM   #71
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Re: The flurry of ERs

Dreamer,

I am in my third week out. I looked at maxing my contribution to the TSP before I went too. I thought about waiting until the Credit Cards were zeroed, the mortgage was paid and that Big Rock Candy Mountain sprang up in my back yard. I didn't. I did it all wrong, except for one thing...I did it. And I couldn't be happier. I may have to make some adjustments down the line, but I can handle that a lot better than going back. Food for thought.

setab
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Re: The flurry of ERs
Old 03-22-2006, 01:03 PM   #72
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Re: The flurry of ERs

Setab! I hear you. It will never be the perfect time, and from a financial perspective, later would ALWAYS be better, it just a question of finding the balance for each of us. My original date was my BD in June 2006, when I massaged the numbers one last time at the request of a co-worker who left early this month, I determined the bottom line for working those last 3 months would amount less than 50 bucks per month diff. I decided it wasn't worth it TO ME.

Sure an opportunity to stash 15-20k away is tempting, and you must do what you're comfortable with Dreamer. I was reacting to your obvious interest in getting out as soon as you can. At the same time I too made a compromise by staying 9 months longer than I absolutely had to to pump up the numbers a touch. That period generated about $300 more per month than ERing at a flat 50 years of age.

Dreamer I get it. Go for it as soon as you can. See you on the other side!
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Re: The flurry of ERs
Old 03-22-2006, 09:26 PM   #73
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Re: The flurry of ERs

You guys have given me alot of food for thought. I think that I have a tendency to think too much at times. I was never like that in my younger days and maybe it is time to revert back to younger thinking.

You are probably right about maxing out the TSP too. I don't really think that I am going to care that I did not max out my TSP 5 or 10 years from now. I was emailed my retirement estimate today and we are only talking a $39.00 per month difference between leaving 06/02/06 and 09/01/06. If you take that $39.00 per month times 20 yrs, it is only $9360.00. The question I am asking myself is what does $9360.00 mean over a 20 yrs period. Not much and if I am fortunate to live 20 more years, I will be 73 yrs old and would have outlived my mother, father, 1 brother, paternal grandmother and paternal grandfather. If I lived to be 102, I think that I would be so grateful that I did not die at a young age, I would not even be concerned with money!

I am strongly leaning toward just doing it and retiring 06/02/06. Once I make up my mind for sure, the whole world will know it!!!!


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Re: The flurry of ERs
Old 03-22-2006, 09:45 PM   #74
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Re: The flurry of ERs

Quote:
Originally Posted by Dreamer
I was emailed my retirement estimate today and we are only talking a $39.00 per month difference between leaving 06/02/06 and 09/01/06. If you take that $39.00 per month times 20 yrs, it is only $9360.00. The question I am asking myself is what does $9360.00 mean over a 20 yrs period.
Dreamer, the question I would be asking is will forgoing $39/mo place my financial security in retirement in jeopardy or make a signficant difference in my standard of living?

If the answer is yes, you need to delay retiring probably well beyond 9/1.

If the answer is no, then you need to let the whole world know 6/2 is "The Day"!!

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Re: The flurry of ERs
Old 03-23-2006, 08:08 AM   #75
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Re: The flurry of ERs

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Originally Posted by AltaRed
Just do it. Took me a year to get up the courage to pull the trigger and* I can now barely wait for 4/28/06 to come.* Have worked very hard and steady for 35 years straight, but nothing can now stand in my way to freedom.
Yeah!!!* AltaRed, we must be living parallel lives.* When people ask me why I am retiring so young, I tell them that I have been working full time since May of 1972 when I graduated from HS.* Later while still working full time I got my bachelor's at night and then my MBA at night.* When I have changed jobs (not very often) I never took time off between them.* I am so ready for a break!* And you are right.* Picking the date was hard, but once the date is on the calendar, there is nothing that can make me change my mind!!

My last day is 4/27, and I can't wait to enjoy a work-free May, which is one of the nicest months of the year.* *

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Re: The flurry of ERs
Old 03-23-2006, 09:15 AM   #76
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Re: The flurry of ERs

I'm out the door 7/1 .. towns holding a big party for me, fire works and all, that weekend. ...

I was going the ER this march, but the stock market has been holding up extremly well so I have "tagged" march unit values, which means a 7/1 departure. (a good part of my pension is in a market fund run by the company). It's money for nothing ...
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Re: The flurry of ERs
Old 03-23-2006, 09:18 PM   #77
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Re: The flurry of ERs

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Originally Posted by Maximillion
AltaRed, are you staying South or heading home to qualify for Ralph's latest giveaway
Heading back to Calgary due to friends and family. Ralphie is on his way out so that don't factor into it.
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Re: The flurry of ERs
Old 03-23-2006, 09:20 PM   #78
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Re: The flurry of ERs

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Originally Posted by cj
Yeah!!!* AltaRed, we must be living parallel lives.* When people ask me why I am retiring so young, I tell them that I have been working full time since May of 1972 when I graduated from HS.* Later while still working full time I got my bachelor's at night and then my MBA at night.* When I have changed jobs (not very often) I never took time off between them.* I am so ready for a break!* And you are right.* Picking the date was hard, but once the date is on the calendar, there is nothing that can make me change my mind!!

My last day is 4/27, and I can't wait to enjoy a work-free May, which is one of the nicest months of the year.* *

CJ
Great minds think alike. Hope you enjoy it every bit as much as I intend to enjoy it.
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Re: The flurry of ERs
Old 03-25-2006, 10:43 AM   #79
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Re: The flurry of ERs

Had lunch with a realtor friend yesterday and she announced that she's quitting for good on Monday! All it took to finalize her decision was the demise of a close friend of hers at 53.

Alas...I have about two more years to work if my job isn't eliminated (which it might be in fiscal year 2007). Have an opportunity to put close to another $80,000 away by the time I'm 52 (50 now) because a side business is doing well and should do well for the next couple of years.

Think all the time about hanging it up but then that old "bag lady syndrome" rears its ugly head. So I'm planning my retirement party for 2008. I hope.
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Re: The flurry of ERs
Old 03-29-2006, 01:36 PM   #80
 
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Re: The flurry of ERs

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