ER Fireball
Recycles dryer sheets
- Joined
- Jul 6, 2011
- Messages
- 57
I am able to retire from Megacorp at my discretion. If I retire before age 60, my pension will be calculated, then decreased 4% for each year. Today that would mean a 20% discount. As an alternate, I can wait to begin drawing my pension until age 60, and then draw the full amount. The golden handcuffs approach is to work 5 more years, increase the pension, and draw with no penalty.
I guess this is really similar to making the decision regarding when to draw SS- 62, FRA, or 70?
FIRECalc says that we have enough. Delaying the payments will increase future payments, so I guess you can calculate how many years it takes before the lines cross. Assuming you figure interest correctly, don't croak in the meantime, etc.
I would appreciate any thoughts!
I guess this is really similar to making the decision regarding when to draw SS- 62, FRA, or 70?
FIRECalc says that we have enough. Delaying the payments will increase future payments, so I guess you can calculate how many years it takes before the lines cross. Assuming you figure interest correctly, don't croak in the meantime, etc.
I would appreciate any thoughts!