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Old 09-09-2020, 10:03 AM   #81
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Originally Posted by firemediceric View Post
This does have me thinking that I better find more ideas of things to do in retirement.
That's a good point about stuff to do in retirement.

As my countdown rounds into the stretch run, I've been thinking about what I need to trial run or plan for during the limited time before I take the plunge. Time allocation is a biggie. I've started exercising an hour to hour and a half a day to get in shape before retirement. I'm hoping I can continue this through to and into retirement.


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But, the numbers I run tell me my pension increase by something like 15K by working until 2022 (a combination of being 60 and having 30 years in). I just canít leave that on the table.

Dh retired in 2019, so I look forward to joining him.
My wife is in a similar situation. She has a DB penion and they recently made changes to it because of demographics: Too many pensioners living longer and needing to be supported by the pension while not enough of a growing working employee base to support payments using the original rules. Early retirement was significantly penalized so, for her to retire earlier, she needs to leave a larger amount of money on the table. I'm retiring before her and we're trying to figure out the optimal age for her. However, she also enjoys her work more though wouldn't mind getting into the consulting side of things.

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I'd like to officially join the class of 2022! 4/20/22 to be precise. That date will be my first opportunity to collect a small, second pension which will cover all of our income/personal property taxes.
That's really close to my date. I'm targeting April 16. It's to capture the Good Friday holiday and the 16th is a Saturday which is the end of a pay period. I'm not a camper but I'm similarly looking forward to being able to spend more time on recreation and travel.
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Old 09-13-2020, 04:16 PM   #82
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Another update two year after my initial post and report on progress and thoughts.

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2018 savings: $1.7MM, 70/30 split, 60% post tax, 40% 401k. House (1,500 sqft, 200k market value) paid off.
2019 savings: $1.9MM getting closer to the $2.5MM goal.
2020 savings: $2.3MM getting very close, but after this year's turmoils I am getting more risk averse. Thinking my goal should be closer to $3.0MM

Quote:
Why 2022?

2018: I should have $2.5MM by then. This is about $500k above my projections what I need to RE with a 3.5% WR. I am kind of worried about market performance over the next couple of years. Feels like a good idea to wait out the next dip.
2019: I am still worried about the next major dip, but I am not changing investment strategy.... We will see.
2020: Well, we sure had a dip! But also a nice recovery. This taught me to stay calm and maintain investment strategy. I rebalanced a couple of times towards stocks in the low which turned out to be good. I also recently rebalanced back towards bonds.

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2018: My daughter living in Germany should have finished her college degree by 2022, giving me peace of mind she has a good start of her own.
2019: First year of college completed. Good grades and she likes it!
2020: Second year of college done. She is still doing great and enjoying it!

Quote:
2018: My son will be in 11th grade. I am looking forward to spend more time with him during his last year in school before he moves out and goes to college. My big dream is to convert a van to a RV and tour the US/Canada for a year or two. This won't be possible until my son is in college and I need a few months to build this thing.
2019: I may change my plans and ask boss for 32h/week part-time work in 2021. That way I have 3 or 4 day weekends for RV travels and I can gradually ease out of work life. Not sure of boss agrees. This plan may delay my overall retirement to 2023. Anyone thinking about part-time? Any experience?
2020: Oh, how w**k sucks! I am now very sure to ask next April to reduce work week to 32h. This year I have increased camping and backpacking and I really need regular 3 or 4 day weekends. Unfortunately, with my new $3 MM goal this may delay retirement by a year to Spring 2023. We will see.
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Old 09-14-2020, 01:12 PM   #83
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Class of 2022

2022 is my date too! Probably June to enjoy the summer for the first time in forever not w*rking full time since Iíve been 14 y.o.

In the meanwhile, Mega Corp has never been busier and jobs secure. Enjoying the *fat* paycheck with very recent large pay raise and banking most of this years and nexts as a cushion. Nice to be in this position for once.
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Old 09-14-2020, 04:11 PM   #84
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Originally Posted by Going camping View Post
I'd like to officially join the class of 2022! 4/20/22 to be precise. That date will be my first opportunity to collect a small, second pension which will cover all of our income/personal property taxes.

DW retired in 2019 at 53 and is loving every day. She and I both have pensions which total $65K/yr and have been living exclusively on that amount for the past 16 months with ease. Our house has a $90K remaining mortgage at 3.75% and our savings total around $700K (building back from divorce) balanced 30/10/60, and buying the dips. My salary goes exclusively into savings until I leave w*rk. We have no debt other than the mortgage.

We love to camp and upgraded from a tent to an RV a few years ago, but never seemed to have enough time to camp with work obligations. After Covid hit and our favorite campground shut down, we found an open campground on a large body of water close to home and purchased a seasonal site where we spend every weekend. Camping every weekend has cemented that I no longer want to be in the office dealing with deadlines.

We are trying the weekend camping experience to see if our plan to full-time will suit our lifestyle. So far so good and we love it! We would like to rent our house for 2-3 years while full-timing, which will pay off the mortgage plus provide income for remodeling when we return. We live in a military area and have leased our previous home in the past.

I met a Work Camper at the campground who shared his wonderful story. He's 84 and his DW is 81. They have been work camping for 20 years after he retired from banking. He doesn't look anywhere near his 80s and attributes his longevity to an active lifestyle. They have seen every corner of this country and return home to Florida each winter to see family.They are an inspiration to us that we don't have sit in an office for the rest of our lives.

Like YVRRocketSurgery, I am doing way too much "clock watching." 1 year, 7 months, 10 days to go.
Welcome to the club! That all sounds good to me! 1 year, 7 months, 10 days isn't too shabby at all! Will be here before you know it!
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Old 10-11-2020, 08:57 AM   #85
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I am looking at 2/28/2021, which is after my mega corp's bonus is paid. Counting the days!!!!!
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Old 10-11-2020, 04:46 PM   #86
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Not counting days yet but months - 21 to go. Having said that, right now due to COVID the megacorp business is NOT good and it is quite depressive to work every day. I keep calculating the difference between Feb 2021 vs July 2022. Right now it seems at least $500k net loss if I quit any time before July 2022. Actually not money I would ever spend myself, but my young wife and kids would be thankful. But, 4 months or 21 months? Decisions, decisions.
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Old 10-11-2020, 07:27 PM   #87
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I've been planning for July 2022 for my 55th birthday present to myself for years. With recent events and a buyout of my company by megacorp that finalizes in the first quarter of next year I'm not sure if I will make it to 2022 or not but that's the goal. A severance package in 2021 wouldn't hurt my feelings too much.
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Old 10-16-2020, 08:46 AM   #88
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I'm now planning for a 1/1/2022 retirement, followed by extended mostly international travel.

I'll be 56 and retired as a fed, with pension, special supplement until 62, TSP that I probably won't need to touch, and personal savings.

My daughter will turn 18 around that time, and she's been staying with her mother during the pandemic, and will continue to do so until she's off to college. I'm renting now and in the process of selling everything I have, except for possibly a few things that will go into storage somewhere.

In January 2022, I'll either drive my car to South Dakota and sell it, or sell it beforehand and fly there. I'll spend maybe a week there, getting my driver's license and establishing domicile in that state so I won't have to pay any state income tax. After that, I'll probably spend a month someplace warm, like the Yucatan, followed by some slow travel in South America, SE Asia, and Europe for at least a year, probably more with occasional trips back to the US.

I don't really have many ties here, which allows me this opportunity. I'd also be interested in traveling with others, so if this is an idea of something you might also have been considering, feel free to drop me a message.
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Old 10-16-2020, 12:51 PM   #89
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Just hit the year and a half to go mark today. Oooh so close, yet so far. I've been kind of dry running through things and taking notes so it won't be complete shock as things play out the same time next year.

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Originally Posted by Skyward1 View Post
A severance package in 2021 wouldn't hurt my feelings too much.
I think I'm going to have a conversation with my manager this time next year to see if there would be an opportunity to take a severace package. Our company deems it a voluntary departure if you leave under age 55 (I'll be 50) instead of considering it a retirement and there are a few small perks/benefits I'll end up leaving on the table. If I get packaged out though, I get those perks.

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Originally Posted by roadyrunner View Post
I'm now planning for a 1/1/2022 retirement, followed by extended mostly international travel.
2020 has been such a let down travel-wise. Hoping there's enough progress that we can start seeing travel activities normalizing in early and through 2021 and by 2022 back to being wide open and business as usual.
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Old 12-14-2020, 11:13 PM   #90
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Checking in to see how everyone's countdown is going. I just hit my 500 day to go mark in early December.

I've been considering the last couple of months and the first few months of next year as kind of a bit of a silent dry run. I've been more observant of and noting down when certain work events have been occuring so I can plan accordingly when they come around again late 2021/early 2022; stuff like performance reviews, project/assignment planning for the following year, when layoff decisions are being made to balance departmental budgets, etc.

Because this has been such an odd year, the company is allowing us to defer vacation time into 2021 and 2022. So, I'm looking to defer as much as I can into 2022 so the stretch run will fly by. I'm bouncing around the options of: taking every Friday off until retirement, back-loading my vacation days so my last day of work is early March while my official retirement is mid April, or breaking up the last few months in 2022 with a couple of week long vacations.

Also looking to plan a ridiculous overseas trip right after retirement to hopefully take advantage of everything getting back to normal by then!
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Old 12-15-2020, 05:42 AM   #91
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I am scoping in Feb 28 as my last day (439 to go) a date that is after bonuses and raises. Looking forward to the date, will start moving into retirement house in Florida in 2021 and preparing for 2022 retirement.
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Old 12-15-2020, 06:06 AM   #92
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Countdown

[QUOTE=YVRRocketSurgery;2527517]Checking in to see how everyone's countdown is going. I just hit my 500 day to go mark in early December.

I'm with you on the countdown, YVRRocketSurgery! I have 70 weeks to go and trying to stay focused and enthusiastic with current projects to get me through.
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Old 12-15-2020, 11:55 AM   #93
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Originally Posted by eba1225 View Post
I am scoping in Feb 28 as my last day (439 to go) a date that is after bonuses and raises. Looking forward to the date, will start moving into retirement house in Florida in 2021 and preparing for 2022 retirement.
Retiring right after the bonus is paid out seems to be a popular idea.
Good luck with the move. Sounds like a big activity!

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I'm with you on the countdown, YVRRocketSurgery! I have 70 weeks to go and trying to stay focused and enthusiastic with current projects to get me through.
I've been assigned to keep working on the project I'm currently on into 2021. Unfortunately, the project is overbudget and delayed so the heat is on!
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Old 12-15-2020, 06:06 PM   #94
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No official countdown but 2022 is still my target.
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Old 12-22-2020, 04:26 PM   #95
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I'm counting down the days to April 01, 2022.

I could technically punch out now and do PT/Gig work for a few years, but I like who I work with, the pay I am earning, and the company I work for (the actual job and its management tasks, not so much).

What I am struggling with is when to make 'The Announcement'. I just had my annual review and was asked what technical training courses I am most interested in...

Rather than say 'none' I answered with a set of courses that would possibly increase my usefulness in MegaCorp and marketability (if I lose my job at MegaCorp).

Sometimes I feel that I am living the life of a double agent behind enemy lines. I've got ER in my sights and would like to tell my employer, but I don't want to be told prematurely to pack my bags. Thoughts?
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Old 12-26-2020, 06:27 PM   #96
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No official countdown but 2022 is still my target.
Does your kids going to college in August play any factor in selecting a date in 2022?
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Old 12-26-2020, 08:27 PM   #97
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Retiring right after the bonus is paid out seems to be a popular idea.
Good luck with the move. Sounds like a big activity!



I've been assigned to keep working on the project I'm currently on into 2021. Unfortunately, the project is overbudget and delayed so the heat is on!
They say moving is one of the biggest strains on a marriage, throw corona on top of it and if we don't strangle each other (me wife or her me) we should be good for the future.
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Old 12-27-2020, 02:30 PM   #98
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Thanks for starting thread. I'm a little nervous about stating my goal here publicly (perhaps its a mix of excitement along with a fear that I may not make it), but I"m planning to retire in 2022 at the age of 52. I always wanted to retire 30 years after graduating from college and me and my wife are DINK's that are just now starting to think about answers to questions like what we want to do next, where we want to live, do we have enough, etc. We are lucky enough to even start thinking about these questions, but this pandemic helped us put things into perspective.
Good luck to all that are in this class!
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Old 12-27-2020, 03:44 PM   #99
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What I am struggling with is when to make 'The Announcement'. I just had my annual review and was asked what technical training courses I am most interested in...

Rather than say 'none' I answered with a set of courses that would possibly increase my usefulness in MegaCorp and marketability (if I lose my job at MegaCorp).

Sometimes I feel that I am living the life of a double agent behind enemy lines. I've got ER in my sights and would like to tell my employer, but I don't want to be told prematurely to pack my bags. Thoughts?
I'm encountering a somewhat similar situation.
I'm still taking training/courses in 2021; already booked one for February because we had some leftover budget from this year (2020). Will probably book another course for mid-year with our 2021 budget. I'm booking courses that are relevant to my job but I've got to admit, part of my goal is to break up the daily grind during this stretch run.

My plan is initiate some dialogue with my manager in Oct 2021 (6 months before my targeted departure) about me very likely leaving the company some time in 2022. I have a good working relationship with him though. The reasons I'm looking to have this discussion in October are:
  • Main reason: Departments occasionally do a purge in late Nov/early Dec, if by the end of Q3/Sept, we're not trending well to hit year-end budget numbers. I want the possibility to be considered for a Dec departure package if the purge happens because the company typically gives 18 month severance for tenured employees. That would roughly net me about a 12 month gain versus working all the way to my targeted mid-April 2022 date.
  • Our raises typically don't go into effect until April 1 so there'd be next to no benefit to me if I leave mid-April. My manager has gone to bat for me many times to get me a raise in various ways (like once, kind of cheekily, when there was a corporate-wide pay increase ban). So I want to let him kind of know not to "waste" a raise on me. However, the risk I'm taking is that bonus numbers don't get locked in until early December for payout early the following year.
  • And lastly, I'm kind of hoping he doesn't assign me any intense projects for 2022. My main project I've been working on during the last year and a half and continuing into 2021 has been insane.
I'm planning to formally submit my retirement/resignation letter in early Jan 2022. That will give my manager about 3 months to find a replacement. The hiring process usually takes forever because it normally has to go through many layers of approval. I'm also working it so I can defer as much vacation time as I can into 2022 to both make the last few months less stressful. Instead of backloading it completely so I can essentially stop work in Mar but officially depart in April, I'll likely either take a week off every month or take every Friday off to basically work a 4 day work week.
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Old 12-27-2020, 03:48 PM   #100
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We are lucky enough to even start thinking about these questions, but this pandemic helped us put things into perspective.
Good luck to all that are in this class!
Yeah, I think the pandemic has brought things into perspective for a lot of people. I was talking to a friend and he's now looking at pulling the plug next year once everything starts getting back to normal.
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