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What month do you plan to retire?
12-20-2014, 11:42 AM
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#1
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Full time employment: Posting here.
Join Date: Aug 2013
Location: New Jersey
Posts: 945
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What month do you plan to retire?
I'm within 2 years of retiring early, and have decided I will retire in April. Compared to retiring on Jan 1, this will give me a few months to build up the fun money stash, and enjoy the spring weather outdoors without being tied to a job.
I know 12/31 and 1/1 are popular retirement dates, but to me, they're not a good choice. Living in the Northeast, the only thing I have to look forward to in January is snow, Christmas card bills, real estate taxes and timeshare dues. If I retire then - the only one I can complain to is my wife - never a wise move!
Share your thoughts.
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12-20-2014, 11:48 AM
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#2
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Dryer sheet aficionado
Join Date: Jun 2011
Location: The mountain west
Posts: 35
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December 31st, 2014 for me, only 6 more days of work. I am already feeling the euphoria!
__________________
If you want to go fast, go alone
If you want to go far, go together
~African proverb
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12-20-2014, 11:51 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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I retired on Nov 9th, 2009, the first day I was eligible for retirement benefits.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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12-20-2014, 11:54 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: Portland
Posts: 2,038
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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.
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12-20-2014, 11:56 AM
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#5
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gone traveling
Join Date: Oct 2014
Location: Katy
Posts: 78
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4/14 ===> 12/27
Quote:
Originally Posted by Al18
I'm within 2 years of retiring early, and have decided I will retire in April. Compared to retiring on Jan 1, this will give me a few months to build up the fun money stash, and enjoy the spring weather outdoors without being tied to a job.
I know 12/31 and 1/1 are popular retirement dates, but to me, they're not a good choice. Living in the Northeast, the only thing I have to look forward to in January is snow, Christmas card bills, real estate taxes and timeshare dues. If I retire then - the only one I can complain to is my wife - never a wise move!
Share your thoughts.
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I plan to return my key sometime between the day before I turn 65 and the last paycheck of that year, depending on stock vesting, but I would love to do it before the family reunion in August, so I can linger or just head out in any direction and not necessarily home.
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12-20-2014, 12:09 PM
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#6
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Recycles dryer sheets
Join Date: Aug 2009
Location: Vancouver/Gulf Islands/Baja
Posts: 479
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I retired this past September... so I have yet to experience a "Summer of ER". I did manage to skip out of a month of PNW monsoon season by heading down to the Baja. In hindsight, I would probably retire in the Spring so that my post-career decompression phase would occur during the Summer months. But really, there is really nothing for me to complain about.
__________________
Retired at 42... the world is my oyster, and I am now in the process of shucking the hell out of it.
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12-20-2014, 01:07 PM
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#7
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Recycles dryer sheets
Join Date: Mar 2012
Location: London
Posts: 68
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I hope to bail out in June 2015, we should have some warm sunny weather by then. No point in leaving in mid winter (I live in England).
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12-20-2014, 01:13 PM
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#8
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Full time employment: Posting here.
Join Date: Nov 2008
Posts: 728
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If vacation becomes due at the 1st of the year I'd pay my Christmas bills, go on vacation in early January, go south for a few weeks and come back at the end of your vacation period and retire! It all depends on the various effective dates for vacation, mega corp retirement contributions, etc.
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12-20-2014, 01:23 PM
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#9
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,126
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I also retired at the earliest date that gave me retiree HI and pension benefits. That happened to be March 2nd.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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12-20-2014, 01:27 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
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As in my signature says, on 7/5/16.
FIRE in 7/5/2016 at 56, after bonuses, maxing out 401K, Maxing out HSA, picking up 1,000 hours to get another year of pension, July benefits, and the July 4th holiday).
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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12-20-2014, 03:01 PM
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#11
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Administrator
Join Date: Apr 2006
Posts: 23,038
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The young wife and I will retire in one of the next few years. It will almost certainly be at the end of June, since she is a teacher and would never leave her students in the middle of a school year. I would like to work it so I retire on July 3rd. Then I'll really celebrate Independence Day.
__________________
Living an analog life in the Digital Age.
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12-20-2014, 03:13 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,433
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Mostly this is just a matter of whenever I decide I have enough saved, but as in all matters ER there are some detailed personal vs. financial considerations:
I can officially retire with a pension on my 55th birthday next July. But...
My Megacorp pension freezes 6 months after my 55th birthday. Each of these months I can tolerate remaining will compensate me significantly better than any thereafter, so Dec. 31, 2015 may be optimal.
Finally, if I'm being greedy then lasting a month or two into 2016 just to max out the next year's 401K and HSA might make sense.
Then again, one can always make excuses to stick around and make more money - so I'm sticking to the July 2015 option (for now...)
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12-20-2014, 03:51 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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I retired 10/31/2008. The pieces of my ER plan were falling into place rapidly during the 2008 summer, so when the last one had fallen into place at the end of September, I gave my notice.
I was working on one last, big project in 2008, working only 2 days a week, and felt that I would finish it by 10/31, which I barely did that day. Outside of work, my personal life's activities begin picking up in October so freeing up those 2 days I had been working meshed well with my increasingly busier schedule.
The markets were crashing in late 2008, as you will recall. However, this was becoming a terrific boost to my ER because my company stock's value, evaluated only quarterly, had not taken a big hit yet, while the big bond fund I planned to use the stock's proceeds (I had to liquidate it) had its NAV dropping fast, pleasing me greatly. I would end up buying about 25% more shares of the big bond fund than I had originally anticipated, providing me with a bigger monthly dividend than I had anticipated without having to transfer other assets into that part of the portfolio.
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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12-20-2014, 03:53 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,043
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I am planning on my birthday in July 2031 if I have "enough" of course, if things get rocky I hope to be done no later than 2034.
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Time > $$$ ~ 100% equities ~ FIRE @2031
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12-20-2014, 03:58 PM
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#15
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Recycles dryer sheets
Join Date: Nov 2014
Posts: 198
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June 5, 2015 is my target. My youngest is still in high school, so it coincides with the end of her junior year. My wife is a teacher so it almost coincides with the end of her work year. It gives me enough time in the calendar year to max out another year's 403(b) contributions, but hopefully early enough to avoid much of the 41.95% marginal tax rate (25% + 9.3% + 7.65%) that many of us in California suffer in the second half of the calendar year. The date also allowed me to give my boss a six month notice so he can search for my replacement. Am looking forward to summer fun.
__________________
ER'd 6/5/2015 at age 58. DW retired 6/18/2021 with small pension and SS. Planned WR before my SS (2024-2026) is 4-5%, then we will start my SS and a lower WR at age 70 (2027)
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12-20-2014, 04:36 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
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My last day of work was the last day of work before Christmas in 2011 but I was on payroll until February 1, 2012. I was on holiday/vacation in between. I upped my 401k contributions to 100% so I ended up topping up my 401k and had no taxable earnings for the year since everything was deferred.
I used the winter to line up our new health insurance, rollover my 401k to my IRA, etc. and do a little skiing so by the time spring rolled around everything was all set and I was able to enjoy the summer.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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12-20-2014, 04:36 PM
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#17
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 645
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July 1, 2015. That is a vesting date for a deferred comp plan, a vacation accrual date, and I will have attended a big client event in June where I will likely get a great send off in spite of some members of management !
Sent from my iPad using Early Retirement Forum
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12-20-2014, 04:51 PM
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#18
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Full time employment: Posting here.
Join Date: May 2007
Posts: 984
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Quote:
Originally Posted by Al18
I'm within 2 years of retiring early, and have decided I will retire in April. Compared to retiring on Jan 1, this will give me a few months to build up the fun money stash, and enjoy the spring weather outdoors without being tied to a job.
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With similar thoughts, I retired at the end of March (2008). Those 3 months allowed me to max out the 401k (TSP in my case) for the year and still enjoy nice spring weather at the start of retirement.
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12-20-2014, 04:54 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,985
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Likewise July 1st is the latest date on my radar. That will get me within a few months of 59 1/2, yet have enough nice weather before next winter. The greedy side of me wants to wait until January 2016 for a few more perks. But you've got to draw the line somewhere and I'm quickly becoming toast at work.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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12-20-2014, 05:13 PM
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#20
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Recycles dryer sheets
Join Date: Oct 2014
Location: San Antonio
Posts: 371
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Planned date of retirement is end of March 2015. Will have maxed 403B with employer match by then. And have time to get annual and summer vegi gardens in.
Sent from my iPad using Early Retirement Forum
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