What month do you plan to retire?

It will be June for me. Gives me almost a half year of social security income credit for the year and it gives me the warm summer ahead to enjoy.

I'll never understand why anyone would retire the last day of the year? Lose a paid holiday the next day? Not being able to say you worked until the following year which started a day later? Who does that? Maybe folks who feel sorry for some peon in payroll? I don't get that.


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Unless there's some vesting date or bonus that would affect the date, I'm thinking March or April. I like the idea of retiring in time to enjoy the spring and summer, plus with only a partial year of income I can stuff my last OMY savings into Roth IRA and 401k on a year my income will be low because I only work part of the year.
 
6/1/17 is my date. I will be 55 and eligible for full pension. I had originally thought I would have to wait until my birthday in the fall but will have enough hours in by June. Will try to max out 403b for the year before going. Happy to be able to start out in the summer rather than the fall!
 
Al in Ohio said:
It will be June for me. Gives me almost a half year of social security income credit for the year and it gives me the warm summer ahead to enjoy.

I'll never understand why anyone would retire the last day of the year? Lose a paid holiday the next day? Not being able to say you worked until the following year which started a day later? Who does that? Maybe folks who feel sorry for some peon in payroll? I don't get that.


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Click to expand...

Paid holiday? What's that?!? In my world the only way I get paid for a holiday is if I get assigned to WORK on that holiday.
 
Planning my date of bliss at March 31, 2015. The company known as Ma Bell is giving a 10% bump on either the lump sum buyout or the annuity. I haven't got the numbers yet until Feb 3rd. The company wants to kick out the old Boomers for some fresh meat. If it works out great... I will be FIRED. 36 years is more than enough but mostly it was a good job. My 401k is pretty hefty since I have been maxing out since I was 30. Listening to Bob Brinker while fishing in the delta canal 1985 when he made his mantra that resonated with me,,, max out your 401k in the sp500 and a bit in international. I never wavered and thanks to
Brinker for that advice I feel pretty wealthy.

I am 59 with little debt and now planning a 10 week trip in Europe in September. I ride motorcycles on long trips since I have the time. Use to ride from the SF Bay Area to British Columbia then to Montana, Idaho and Oregon and home. The ride would last 3 weeks. But what an adventure!

My DW will continue to work up to when we go on our Euro adventure. Goods days are here to stay! Now looking forward to managing my money in retirement. Just the tax thing is a bit over my head.


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I'll resign 5 Jan 2015. My bonus for 2014 was paid in December. Company match on the 401k occurs at every paycheck and is 100% vested for me. I fully vest in my SERP contributions 31 December. A large SERP payout will occur a few weeks after my separation from the company and I wanted to have it hit in a year without any earned income to minimize the amount taxed at 33%. I have already set my 401k to 100% of my pay so after SS, medicare, income tax withholding and HSA contribution it will all be tax deferred. I won't max out my 401k until sometime in February. My transition won't be that long.
 
Some thoughts on a good time:

Fill up the 15% bracket then go
Wait until spring and the weather improving
If you get a bonus, until after the bonus
Max out you 401k as much as possible
 
Last edited:
April 1.

1) I would be a fool to keep working.

2) Gives enough earned income for a full 401K/IRA contribution while minimizing taxes for that year.
 
March 1st. I was asked to work for a number of months so they could find someone to replace me. The latest work date I offered was the end of February... that's what the took.... so March 1 I'm non-employed
 
I enjoyed reading all the replies - looks like a lot of folks are planning to retire in the Spring or Summer, so I'm in good company.

I'm currently in the 25% tax bracket, so retiring by May should keep me in the 15% bracket. I've been maxing out the 401K and Roth IRA amounts for a few years, including the over 50 contributions - so I have no plans to increase those amounts during the last few months. According to my plan, I would have hit 110% of my target number by the previous December 31, so I will dial BACK the 401K contributions during the last few months and put it in my fun money stash. I look at it as a walk across the finish line - not a sprint.
 
Helen said:
I went on my birthday in May. It was when I qualified for retirement benefits. It was also a great time of year for hiking. By the time (fair weather) backpacking season started I was in prime condition.
Click to expand...


May birthday as well and retired 2 days before it. The major point was to retire in the spring so I could go wild enjoying the fair weather - running, hiking, gardening. Of course, breaking my ankle a week later put a bit of a crimp in that but not that much thankfully.
 
Aug 31, 2015 this date still allows me to enjoy the end of summer, and fall before enjoying a season of skiing. My schedule lightens up the last 4 months, so I view that as free money, which will go into the fun stache. I will be 45. Can't wait.


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May 2016. I chose May because I couldn't stomach losing one more summer to w*rk. I will become fully vested in retirement medical benefits in March 2016, and eligible for the 2016 bonus in April.
 
I retired effective end of Jun 2011. I also wanted some summer time off, but it was good for me to take one last quarterly bonus, reach a (frozen, small) pension milestone that May, and good for my former bosses wishes...
 
I know when I decided to retire, I was not willing to give my employer one more Summer! I figured I only had so many Summers left and wanted to enjoy all of them. :dance:
 
January 2nd--11 days from now (only 5 w*rk days left). I don't see any problem retiring in the dead of winter. It makes it easy to travel to warmer climes. I've booked trips in each of the next 3 months.
 
scrinch said:
May 2016. I chose May because I couldn't stomach losing one more summer to w*rk. I will become fully vested in retirement medical benefits in March 2016, and eligible for the 2016 bonus in April.
Click to expand...

One secondary reason I ERed at the end of October (2008) was that I couldn't stomach one more winter of commuting on the trains.
 
What I'm seeing is that there are good reasons to retire at any time of year!
 
4/6/2015. But I will work very part-time until the end of 2015 (1 day a week).

18 months later COBRA will end and I will be 65 and on Medicare.

Writing my letter over the holidays. My manager already knows but told me last week he was in denial.

:)


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January 1, 2015, I leave the hospital at 7AM. I go to independent contractor status, which is basically retired with a chance for a little extra cash. No more shoveling the snow at 5AM to get to work. I like the snow...watching it from my breakfast nook with my morning coffee. So 7 more days.


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March or April. By then I will have maxed out the 403b's and such, and the weather will have improved so I can start to spend more time outside hiking, biking, etc.
 
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