Class of 2013

[martyb]

After going out for a few hrs & returning, I realized I didn't do the best job above trying to describe our projected post-FIRE income.

 

[Huston55]

So basically, we'll be looking at $28500 (my pension) + $6000 TSP net SWR) = $34,500

All the above is net income and could vary some but is probably very close. Both my pensions include deductions for survivor's benefits for my wife, life & health insurance, and all expected taxes.

Smart thing to buy survivor's benefits. I'll do the same with my AF Reserve pension; not a Fed so, don't get CSRS or FERS pension. But, they do take a healthy chunk of change for survivor's benefits don't they.

 

[Finance Dave]

I'm a "potential" 2013 FIRE member....we'll see.

Currently working in 50 hour/week grind that I need a change from, been prepping for such change for about 3 months. Will start interviewing in a much different field in the next month or so. If I find what I want, I'll rehire immediately...and *ork at the new *ob for 2-5 years depending on pay. If I cannot find something at 20-25 hours/week that I like, I'll continue with MegaCorp for 1-2 more years..and leave at that time.

I WANT to do something in rehirement....I like being around people, having some structure, and to keep learning and engaged. I just want more of a 20 hours/week stint, where I can take 3-4 weeks off once/twice a year for vacations, a boss that's not over my shoulder, a relaxed atmosphere, and some fun.

The goal is to get to where I can afford to accept the above at minimum wage...so 20 hours/wk x $8/hour x 45 weeks/year = $7,200/year...plenty when combined with all our savings and some rental income from 2 (currently) to 4 (anticipated) rental homes.

It will be so awesome to make $7,200 and actually receive more than 80% of it. Uncle Sam, I'm putting teflon on my back.

 

[Coaster]

Hi class! I was in the class of 2014, but it now looks like it will be 2013 for me. My contract is ending a year earlier than planned

 

[KM]

Welcome to the club. Moving up your date is way better than moving it out.

Countdown to Jan 2013
Days - 224
Week Days - 160
Work Days - 114


I have been mulling over hanging in for Q1 2013 - but too many more days like today and that silly thought will no longer exist.....

 

[RitaR551]

Adding myself to the class of 2013. I'll be four months shy of 62 on 1/01/13. I'm currently working part-time and we are living on income produced from our investments. So far so good. I'm going through the emotional adjustment of "letting go" of my position and accepting the fact that it really doesn't matter what i think about any changes my employer makes in the future. I'm outta there in 7 months!
We have our small winter place purchased and looking forward to being snow birds.

 

[Helen]

Congratulations, Rita! Where will you snow bird to?

 

[RitaR551]

Congratulations, Rita! Where will you snow bird to?

Near Tampa. We had visited DH parents there a number of years and like the area.

 

[Chuckanut]

Hi class! I was in the class of 2014, but it now looks like it will be 2013 for me. My contract is ending a year earlier than planned

Congratulations.

 

[martyb]

I'm still undecided. My first date of eligibility to retire is 1/18/2013. Still thinking about it....

 

[Milton]

I WANT to do something in rehirement....I like being around people, having some structure, and to keep learning and engaged. I just want more of a 20 hours/week stint, where I can take 3-4 weeks off once/twice a year for vacations, a boss that's not over my shoulder, a relaxed atmosphere, and some fun.

The goal is to get to where I can afford to accept the above at minimum wage...so 20 hours/wk x $8/hour x 45 weeks/year = $7,200/year...plenty when combined with all our savings and some rental income from 2 (currently) to 4 (anticipated) rental homes.

Assuming that you will be FI, may I suggest that you consider volunteering rather than part-time paid work? I suspect that you'll find it considerably more flexible, and personally fulfilling, than minimum wage paid employment.

Of course, if the anticipated $7,200 annual employment income will be necessary, then please disregard.

 

[Huston55]

I'm still undecided. My first date of eligibility to retire is 1/18/2013. Still thinking about it....

Marty-

You're the founding member of The Class of 2013 with your opening post. Don't get "one more year-itis" on us now!

Step awaaaaaay from the work place; everything will be fine.

There are those of us who need a good example.

 

[martyb]

Marty-

You're the founding member of The Class of 2013 with your opening post. Don't get "one more year-itis" on us now!

Step awaaaaaay from the work place; everything will be fine.

There are those of us who need a good example.

Yeah, I know, I never woulda thought I'd have second thoughts. I've been thinking about this time for a lonnnnng time. Now I'm at the point where I have to actually decide about giving notice in the next few months...and it's suddenly making me nervous. I'd love to not be working after January, but the reality is I've had a 2 year pay freeze, which hurt my hi-3 average, my TSp's not quite where I projected & wanted it to be for retirement, so I'm just saying I might go a little longer into 2013 to at least get another year's TSP contributions packed in there, and to get a bigger Annual Leave payout, which would help a lot with expenses when I first retire. OPM has a history of taking several months to get a retiree's full payment figured out, meaning some retirees are receiving only a percentage of their full pay, sometimes 40%, 60% etc. That would be tough...but I could buffer it with the additional vacation pay, till they get things caught up & I get the back-pay. I'm constantly hearing of this taking several months to get finalized. I'm probably gonna be buying a house soon, and I don't want to get caught in a cash crunch where I have to dip into retirement funds just to pay the bills till my pension gets straightened out.

 

[Amethyst]

Same boat. Already decided to stay another year. Are you doing the "take no annual leave, so I can get paid for it when I retire"?

Amethyst

the reality is I've had a 2 year pay freeze, which hurt my hi-3 average, my TSp's not quite where I projected & wanted it to be for retirement, so I'm just saying I might go a little longer .

 

[martyb]

Same boat. Already decided to stay another year. Are you doing the "take no annual leave, so I can get paid for it when I retire"?

Amethyst

Gonna try to do that as much as possible, but with my mom being 82, I feel like I need to go visit at least once or twice, and she lives 1000 miles away.

I carried over 240 hrs from last year, so still have that, plus at the moment, I have 175 hrs on the books, plus 24 hrs performance award time as well. About to use 40 in July, then will have to use the rest by the end of this year or will lose everything over the 240 carry-over.

I've got a training class in Virginia in August, so will most likely use another 40 hrs to stop by & visit family again in NC at that time. So...I'll start 2013 with the 240again, and am eligible to retire on January 18th, 2013.

That's too late to sell back anything really above the 240 I'll have from 2012. If I want more than that, I have to work longer in 2013 & try to manage the balance as best I can. I'd like to have at least 400 to sell back, but it will be tough to do.

If I go back again at Christmas 2012 to visit, maybe I can postpone further trips till after I decide to retire, later in 2013. But, then it goes back to my mom's age...I don't want to find myself feeling regret....

 

[Helen]

Gonna try to do that as much as possible, but with my mom being 82, I feel like I need to go visit at least once or twice, and she lives 1000 miles away.

...

If I go back again at Christmas 2012 to visit, maybe I can postpone further trips till after I decide to retire, later in 2013. But, then it goes back to my mom's age...I don't want to find myself feeling regret....

Marty, don't short yourself on spending time with your Mom. You could always work a couple of extra weeks to make up for the couple of extra weeks you spend with her. I'd give about anything to have a couple of more weeks with my Mom.

 

[Throwdownmyaceinthehole]

June 1, 2013

My fire date set to June 1 - 347 days, 129 play days, 218 work days- DH has been 'retired' for the past 6 years and its time for me to join him. I really do like my job, if I could only have more sleep/play time

 

[mystang52]

I've known for quite a while, but this is my first entry to this thread, that I'm also in Class of 2013. Date not quite fixed, likely to be March 1, and worst case scenario should be no later than April 1.
I have SO MUCH fun away from work, and conversely hate my 9-5 life, that my RE can't come soon enough. I've mentally practiced my notice (just good ol' fashioned 2 weeks) untold number of times.

 

[martyb]

Still undecided about an exact date...but it sure is sweet knowing I CAN do it on January 18th!

 

[Spokane2303]

Skipping ahead a Year!

Thanks to Obamacare; and, my new hero Chief Justice John Roberts, we're skipping ahead a year!

Health Insurance costs have vexed our ER plans for years due to DW's poor health. We had planned to ER in 2014, take advantage of Washington State's conversion rights to a group policy if you have current group HI coverage, and to pay the high insurance and pharmaceutical costs that this would have entailed.

Now (we're still hedging our bet and watching the Fall election) with guaranteed access; and, with the added bonus potential for subsidized premiums through careful control of our MAGI taxable income level, we're optimistically joining the Class of 2013!

365 Days to go!

 

[Helen]

Congratulations, Spokane2303! What a great feeling to know you are now within a year of ER.

We are planning on bailing next year and were planning on COBRA then onto Oregon's portablity plan. The law won't change our retirement date, but it looks like it will make our health insurance premiums more affordable. Perhaps we will go from COBRA to the new Federal plan. It will be nice when we have access to more information on this.

I am happy for you! I think this New Year's Eve will have much cause for celebration

 

[Spokane2303]

Thanks Helen!

We will be on COBRA too for the last 5 months of 2013 to bridge us over into the insurance exchange in 2014. Fairly expensive; however, you can't take it with you and life is too short!

Yep, we really look forward to New Years Eve!

 

[RitaR551]

There's a possibility I may join the class of 2012. Things are looking that way. I'll have to cut back on expenses for a few months, but it looks like we will do ok. Still holding my breath!

 

[Koogie]

Okay, gonna go ahead and join up. December 31, 2013 it is. Might take a few months extra to wind things down in the business but I will back away from the keyboard and hand in my timecard for the paper mines and become one of the unproductive masses.. : o )

 

[martyb]

While I will be eligible on January 18th in 13, it's more likely I'll wait till later in the year. The optimum time in 2013 (financially speaking) would be closer to the date mentioned by Koogie. I don't know if I can hold out that long, though........