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Old 10-07-2012, 09:30 PM   #141
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Join Date: Mar 2006
Posts: 126
Quote:
Originally Posted by knucklehead 61 View Post
Current Age: 45
Projected/Goal Retirement Age: 50
Total working years: 32
Pension: No, but 7 figure 401k, as well as ira, annuity, income from various rental properties, & taxable accounts.
Knucklead- I really like your current financial status, when I grow up I want to be like you.

My retirement portfolio consist of : Rollover IRA, ROTH IRA, 2 rental properties, a few lots (2 lakefront lots/1 golf course lot), and taxable accounts. Do you recommend for me to invest in annuities?

Thanks,

Xavier
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Old 10-08-2012, 12:10 PM   #142
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Join Date: Nov 2007
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Originally Posted by plex View Post
Ah, I see. 60% does sound like a nice top end, after 30 years under FERS, it is 33%, you can also use sick leave to spike it a bit, but it is definitely not worth it. On the other hand, they don't make it ridiculously painful pulling out early, if you want. Definitely sounds like the best idea to cash out under a 6% contribution rate, it sounds like they penalize you for doing anything less than selling your soul to the company.
I haven't gone to the hassle of figuring out exactly how long you have to work to make the pension worthwhile, but I think around 20 years unless you are in your 50's when you start working.
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Old 10-08-2012, 02:15 PM   #143
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Join Date: Mar 2011
Location: Kirkland
Posts: 139
Current Age: 26
Projected/Goal Retirement Age: 45
Total working years: 22
Pension: No (assuming we'll got no SS benefits)

Things are going well and if they continue to trend up and my wife is able to start working once our kids hit school age, that 45 could drop to 40 or earlier.
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Aiming to retire at or before 2031 at age 45.

Status: Saving. Started in Oct 2011, I am ~9 months ahead of where I expected to be and about ~3 months ahead of my desired schedule.
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Old 10-08-2012, 02:25 PM   #144
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Join Date: Oct 2010
Posts: 1,667
61/ Ms G younger.
retired 54/51 roughly the same time.
hard to tell I didn't w**k most of our married life.
no pension.
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Old 10-08-2012, 02:50 PM   #145
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Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Current Age: 54 yr 1 mo 2 dy, approximately
Projected/Goal Retirement Age: 48 (FIREd 1 April 2007)
Total working years: 26 in career field, plus 8 more years for misc HS, college work study and summer jobs
Pensions/SS:
a) CSRS survivor pension with health benefits and COLA at age 46.
b) my FERS pension to start at age 56, no COLA.
c) my SS benefit to be applied for at age 62, no spousal SS benefit.
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Old 10-08-2012, 03:34 PM   #146
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Join Date: Dec 2010
Posts: 746
  • Age 61
  • Retired 6 years
  • Same mega corp 28 years
  • Pension with COLA, retiree health insurance, 401K rolled over to an IRA
  • Will start collecting social security next year
  • Upon age 65 Medicare will be primary, retiree health secondary
I've been debt free for years so none of the income is diverted to pay debt. Not that debt status is a part of the discussion; however, it is a part of the "it's not how much you make, it's how much you spend" financial equation.
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Old 10-10-2012, 08:37 AM   #147
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Join Date: Jun 2007
Location: Oklahoma City
Posts: 275
Current Age: 44

Projected/Goal Retirement Age: 57

Total working years: 38

Pension: Yes
Military reserve (20 years) starts @ 60yrs old
FERS starts @ 57 = (with sick leave cash-in) 39% of high three average salary.
FERS pension diet COLA'd starting @ 62
SS thinking that 50% of estimates are a more realistic guage of what I can expect to receive
Should have around 800k in TSP (401k) by 57 also
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Old 10-13-2012, 08:15 AM   #148
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Join Date: Mar 2009
Posts: 1,433
Age - 56

Projected Retirement - 58, 591/2 or so - work is getting to be fun now that FI has been reached

Total working years - 37 or 38

Pension - Small one frozen in '94 will yield about $600 / month
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Old 10-31-2012, 11:11 AM   #149
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Join Date: Oct 2012
Location: salem
Posts: 20
Age= 48
Planning to head out = 55
Pension = Yes (but very meagered @ 55, probably enough to just pay for property tax)
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Old 10-31-2012, 11:19 AM   #150
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Join Date: Sep 2010
Location: chicago
Posts: 35
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Originally Posted by abbvie View Post
Age= 48
Planning to head out = 55
Pension = Yes (but very meagered @ 55, probably enough to just pay for property tax)
abbvie, huh

how did you come up with that name?
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Old 10-31-2012, 12:25 PM   #151
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Join Date: Aug 2009
Location: Northern Virginia
Posts: 392
Current Age: 52, just had a birthday this month!
Planned Retirement Age: 54
FI reached this year. Now working to achieve lower SWR.

No pension.
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Old 11-01-2012, 11:08 AM   #152
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Posts: 91
Quote:
Originally Posted by Retire2014 View Post
Current Age: 52, just had a birthday this month!
Planned Retirement Age: 54
FI reached this year. Now working to achieve lower SWR.

No pension.
Thanks for the input. What criteria did you use to determine FI? What SWR are you working towards and what could you sustain now?
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Old 11-01-2012, 02:15 PM   #153
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Join Date: Dec 2008
Posts: 116
Current age 41

Target "retirement" age 44

I'm FI with a SWR of 4% but will get it down to 3% by the time I'm 44. I plan to take a break for a year or so and then who knows. The idea of working 10 to 15 hours per week sounds appealing.
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Old 11-01-2012, 02:49 PM   #154
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Originally Posted by FreqFlyer View Post
Current age 41

Target "retirement" age 44

I'm FI with a SWR of 4% but will get it down to 3% by the time I'm 44. I plan to take a break for a year or so and then who knows. The idea of working 10 to 15 hours per week sounds appealing.
Wow, that is great! I'm 32 now and retirement by 48 is a maybe. I'd love to be in a similar position at 41. Maybe if I work really hard in the coming years... It's tough to swing with a family and one income, but I'm still hopeful!
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Old 11-01-2012, 08:25 PM   #155
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Wow, that is great! I'm 32 now and retirement by 48 is a maybe. I'd love to be in a similar position at 41. Maybe if I work really hard in the coming years... It's tough to swing with a family and one income, but I'm still hopeful!
The key is to get a couple of promotions and keep your lifestyle from increasing. I earn more than double what I did 5 years ago yet I spend 30% less. I refinanced the house and swapped the BMW out for a used Honda.

Best of luck and I look forward to following your progress!
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Old 11-01-2012, 09:07 PM   #156
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Join Date: Oct 2012
Posts: 7
current age - 57
retirement age - before I reach 58 (less than 6 months)
total working years - 32
pension - yes, but frozen several years ago

can't wait to get there...
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Old 11-12-2012, 09:39 AM   #157
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Join Date: Jul 2008
Posts: 19,388
Quote:
Originally Posted by catccc View Post
Curious to hear everyone's current age, projected/goal retirement age, and total number of years worked when you hit your retirement age, and also if you are expecting a pension of any sort. For total number of years worked, I'm counting career years, not the gigs during high school or college.
Age: We will both be 56 soon
Retirement age: DW at 50. I just stopped my part-time consulting work this year.
Career years: DW 27 years, me 31 years.
Pension: What's a pension?
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Old 11-12-2012, 09:51 AM   #158
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Join Date: Nov 2009
Location: SF East Bay
Posts: 3,128
Current age - 48
Retirement Age - 47
Total number of years worked - 22
No pension - just personal stash, and SS (in the future)

As I think I've mentioned here before, my current state of retirement was brought about by a layoff, after which I discovered that my will to work had disappeared. Subsequently, I have retired at a lower standard of living than I had hoped. However, I have food and drink, a roof over my head, a bicycle, internet access, a Netflix subscription, and 2 lovely kitties for company. I'm as happy as a pig in poop
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Old 11-12-2012, 05:37 PM   #159
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Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
CA: 65
RA: 60
WY: 40
Pension with COLA
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Old 11-12-2012, 06:45 PM   #160
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Join Date: Jul 2007
Posts: 53
Current age = 50
Retired at = 49
Worked = 26 years
Pension = yes, but not planning to tap until 65. meanwhile, supporting myself with taxable investments
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