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Old 09-27-2012, 04:17 PM   #41
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Join Date: May 2011
Location: South Eastern USA
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Current age -almost 57
retired age -almost 56
years worked 34.5, 29.5 at megacorp, rest in the yacht club
pension yes
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Old 09-27-2012, 04:22 PM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
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Not sure why you posted the same query in two forums...
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Originally Posted by bo_knows View Post
I think the intent might have been to get separate posts up for people yet to retire (in the Young Dreamers forum) and people already retired (in this forum).

And if you look at the other thread you'll see how well that strategy worked out. Don't beat yourself up...
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Old 09-27-2012, 04:27 PM   #43
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Join Date: Apr 2008
Posts: 702
current age 60
Full retire at 59
Semi retired at 54
Years worked 30 Full time, 5 Semi retired
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Old 09-27-2012, 04:35 PM   #44
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61, retired from full time about 6 months ago, still work a few hours for the h of it. Worked 36 years in my profession, and was always taught by depression raised father to save for your own retirement. So I did despite two 15 year gigs in local governments. When left the first was given my contributions back with no interest That was my choice for several reasons, didn't care to vest with the b_st_rds. So that was where a lot of accumulation in 457 came from. Then after some private sector I returned to local government, sacking as much into 457 and 401k as could (yes, you can do both, in last 6-7 years was doing over $40k a year). About 1/2 way through that I realized I could buy time for previous local government credit (expensive, but very worth it) so did. that let me out at 60 with about 1/2 salary, cola'd but at less than predictable %. So I currently have a DBP and investments that give me a good bit more than last salary, which I lived well below. Wife has no pension but IRA and we'll get ~$30k SS at 66 but we'll hold off as we don't need it. I perhaps could have retired 3-5 years earlier, but the penalty on the government pension to go before 60 was 20% if I left one day before 60, more earlier. So I stayed, and it was a job that I didn't really mind until the last couple of years.

No regrets here, only problem is that we care for MIL (almost full time work for DW) so cannot travel very easily, which is what we saved so much money for! It's a problem that will solve itself of course, meanwhile we spend a lot of time exercising and looking for ways to enjoy life. Gets better each day. Other complication is daughter with 3 grandchildren (and husband) live in London, DS lives in Tanzania. Great places to visit but a long plane ride, and getting BIL to take MIL is a challenge.
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Old 09-27-2012, 04:35 PM   #45
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Location: Vermont & Sarasota, FL
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I'm curious about those of you that are FIRE:

How many years of working (in your career, not high school or college gigs) did you log before you retired?

How old were you when you retired?

And lastly, did you get a pension?

Mostly I'm curious about what ages early retirees retire at... And the pension- I see lots of articles about people that qualified for a pension and were able to retire. I haven't had such luck to find a pension. So it's good old savings for me...
34 1/2 years from first job after college to early retirement - no breaks in between other than vacations and a couple weeks between jobs (last 5 or so years were 50% to 80% part time)

56

Yes, a small pension from one prior employer - annual benefit will be ~14% of my final pay with that employer
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Old 09-27-2012, 04:35 PM   #46
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Join Date: Aug 2011
Posts: 89
Current age 57. Planned retirement 57.5!
Years worked 33
I am blessed to have a defined-benefit pension from megacorp, supplemented by personal savings. SS benefits will also kick in at 62, but are very low given the local rules...
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Old 09-27-2012, 04:38 PM   #47
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And if you look at the other thread you'll see how well that strategy worked out. Don't beat yourself up...
If you like, we can always merge the threads - just a thought.
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Old 09-27-2012, 04:46 PM   #48
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That's my kind of business. Mind if I ask what it is?
I opened up a used car lot with two managers who worked for me at my new car store back in 2008. The two hours is actually a little deceiving-- I'm only able to put this little time in because they are really good, and I pay them a lot, so they do everything but deposit the money and do the accounting. That's my "job".
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ER'ed from the new car business Feb 2008. I'm 47, she's 45. Two boys ages 15 and 13. DW is SAHM. I've got a part-time used car lot I w*ork at 3 hours a day that keeps me in beer money.....
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Old 09-27-2012, 04:54 PM   #49
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Posts: 5,584
Current age 57
Retired in early 2008
Worked for 36 years
Have a modest pension from DH and a tiny one from me
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Old 09-27-2012, 04:56 PM   #50
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Join Date: May 2007
Posts: 530
Current age: 52
Retirement age: 47
Years working (full-time*): 25
Pension: no (but SS yes, hopefully!)

*I worked various part-time jobs since I was about 15 years old, but only included the full-time work that started after college.
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Old 09-27-2012, 05:01 PM   #51
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Pensions were typically not designed to accomodate very early retirement, quite the opposite. They were designed to encourage longevity at a single company. The people with defined benefit pensions typically have to put in many years at a company and reach a certain age. In my megacorp, you would not be eligible to receive even a reduced pension until you reached 55 with a minimum of 15 years at the company... so nobody there could retire at 40, either, unless you had the savings to cover the 15 year gap... and the pension would be very small if you had only worked from 22 or 25 to 40, in any case.
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Old 09-27-2012, 05:13 PM   #52
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Join Date: May 2008
Posts: 589
Current age: 28
Retirement age: 36
Years working (full-time): 12
Pension: Probably, somewhat small, COLA'd (SS yes, about the same size as pension, combined they will cover about 50-80% of my basic needs when I finally start collecting from them)

This is with me basically screwing up big time by going to law school, in retrospect I could have skipped law school and been ready by 31, with only 11 full working years required.
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Old 09-27-2012, 05:27 PM   #53
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In 7 months will have 34 years in and plan to retire at 55.
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Old 09-27-2012, 05:28 PM   #54
Recycles dryer sheets
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Join Date: Jan 2012
Location: Upstate SC
Posts: 242
Current age: 58 (DW 57)
Retired: 55 (DW 54)
Years working (have forgotten that stage of life already): 30 (DW 33 years)
Pension: DW and I both have pensions (Public County, and Public School) both COLA'd
SS: I will have SS, DW will not.

Hard to believe it has been three years. Time's fun, when you are having flies!!! (or vice versa)
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Old 09-27-2012, 06:01 PM   #55
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Retired at 52 No pensions. Worked for 26 years after graduating with MBA.
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Old 09-27-2012, 06:20 PM   #56
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I am 58, retired at 46, worked 30 years. Enough years to qualify for SS and Medicare, but mostly when I was in high school and college so a SS pension that is not meaningful. Lots of luck so far, we rely on our portfolio for 100% of income and will need that for life.
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Old 09-27-2012, 06:40 PM   #57
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Current age - 61
Retried at 60
Worked a total of 38 yeras for "2" megacorps
No pension (except SS, maybe)
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Old 09-27-2012, 07:13 PM   #58
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Join Date: Oct 2008
Location: Naples
Posts: 2,161
Current Age: just turned 76
Retire Age: 51 1/2. Just starting my 25th year of retirement.
Years of Service: 34 years with General Motors
Pension: Defined Benefit.
Buyout and special early retirement at 51 1/2
Pension benefits now under Prudential through annuity purchase


The only way I was able to do this was with special early benefits such as two years salary and they also paid me social security equivalent until I reached 62. When I started receiving SS benefits that supplement was eliminated and replaced with my normal earned pension. Pension was never COLA'd.
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Old 09-27-2012, 07:23 PM   #59
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Location: Seattle
Posts: 517
Current Age:33
Projected Retirement Age: 50 (45 is best-case, but not counting on it.)
Total Working Years: 25-30 post-college.
Pension: None
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Old 09-27-2012, 08:46 PM   #60
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Location: northern Michigan
Posts: 732
Current age: 57
Retired at: age 54.5 (fed. govt)
Worked for: 31 years
Pension: yes (not large, but it is COLA'd)
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