Sorry for taking so long to respond but yes that is FERS.
My wife keeps sending me articles on how retiring early causes boredom. She hasn't worked a full time job since 2005 and is trying to talk me out of retiring??
Class of 2023
- Thread starter Ready2Go
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Sorry for taking so long to respond but yes that is FERS.
My wife keeps sending me articles on how retiring early causes boredom. She hasn't worked a full time job since 2005 and is trying to talk me out of retiring??
leftyfrizzell1963
Dryer sheet aficionado
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I'll be 60 in 2023, so that is my stretch goal retirement year. Sign me up for this Class!
My standard goal year is 2025...where I have a saying w DW which is "Survive until 2025!".
My standard goal year is 2025...where I have a saying w DW which is "Survive until 2025!".
Teacher Terry
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Elle, sounds like she doesn’t want to share the space during the day
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OP
Ready2Go
Recycles dryer sheets
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Welcome Aboard...to the noobs.
I may move mine up to 2022...but still solidly in this group until I get closer.
I may move mine up to 2022...but still solidly in this group until I get closer.
Wait for me! I want in. Just had another in-depth planning session with DW this am so we are all caught up. We reviewed i-orp, firecalc, Fidelity's planner, and the ACA cost estimator sites. We discussed the kids, parents, house, cars and travel plans.
2023 will probably be it! At most, we may use 2024 to replace cars, HVAC, and roof. However, I strongly prefer cutting the house loose with the old roof, HVAC, and replacing just 1 car. I have a "free" house on the family farm that needs about 50k and then it's good to go. Good gosh. I've been walking at least 6 inches off the floor since joining this site. Thanks to all.
We will be 56 and 53.
2023 will probably be it! At most, we may use 2024 to replace cars, HVAC, and roof. However, I strongly prefer cutting the house loose with the old roof, HVAC, and replacing just 1 car. I have a "free" house on the family farm that needs about 50k and then it's good to go. Good gosh. I've been walking at least 6 inches off the floor since joining this site. Thanks to all.
We will be 56 and 53.
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JustCurious
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What are the criteria for joining the class of 2023? Is reaching FI enough, or does one actually have to retire in that year?
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Tiger8693
Full time employment: Posting here.
Good question. I was assuming it to be get off the treadmill-ratrace-hamster wheel..... you get the picture.
PandaBear
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I am planning being part of the class of 2023. My dh retired last month, so it may be hard to continue for 4 more years! in 2023, I will be 61.
We have a couple reasons I am planning to work until 2023.
1. My pension will increase significantly (by 50%).
2. I have good medical. When I retire, I get 4 years of medical paying as if I am full time (currently about $3500 per year. That will take me to Medicare. I am not sure if it covers dh (probably not). But he will be medicare eligible 2 months after I retire.
3. I currently like my job and because I work in education, I get about 12 weeks off a year. My typical work hours are 8-3. I have a hugely unique position which allows me a very flexible schedule. Because of a special CA law, I can reduce my workload to as low as a 50% contract and still accrue years for retirement as if I am working full time. I also pay for medical benefits as if I am full time. This year I reduced to a 90% contract, which gives me an additional 19 days per school year for long weekends and any other reason I may want a day off.
4. While dh likes to travel, he's not the type to want to be gone 2 or 3 months at a time. So taking a trip during my February and April breaks, and a longer trip in summer are perfect for him, with a few long weekends.
I look forward to following this group as we count down the days, months and years!
We have a couple reasons I am planning to work until 2023.
1. My pension will increase significantly (by 50%).
2. I have good medical. When I retire, I get 4 years of medical paying as if I am full time (currently about $3500 per year. That will take me to Medicare. I am not sure if it covers dh (probably not). But he will be medicare eligible 2 months after I retire.
3. I currently like my job and because I work in education, I get about 12 weeks off a year. My typical work hours are 8-3. I have a hugely unique position which allows me a very flexible schedule. Because of a special CA law, I can reduce my workload to as low as a 50% contract and still accrue years for retirement as if I am working full time. I also pay for medical benefits as if I am full time. This year I reduced to a 90% contract, which gives me an additional 19 days per school year for long weekends and any other reason I may want a day off.
4. While dh likes to travel, he's not the type to want to be gone 2 or 3 months at a time. So taking a trip during my February and April breaks, and a longer trip in summer are perfect for him, with a few long weekends.
I look forward to following this group as we count down the days, months and years!
wdwwildbill
Recycles dryer sheets
My idea is to get out of the rat race.. Starting the count down and firming up our plan
leftyfrizzell1963
Dryer sheet aficionado
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Agree on getting out of the rat race. Technically, I plan to semi retire in 2023 at 60. At 60, I will switch to a job without deadlines and stress. Maybe it will be full time, it may be part time. Do that from 60-65. I should have no debt, and it should be able to pay most of my bills without leaning on my savings too much. At 65, I'll activate SS, and quit the job, essentially replacing that income stream, then cruise from there!
12/22/23
Sometime between 12/22/23 and 1/1/24, I will no longer be a working stiff. Of course, so far into the future I might actually be a stiff! As I tell my coworkers, death is just another form of retirement.
My last post was in the 2024 thread, but I feel more comfortable here as I do believe I will have the household fully ready late 2023 to be free free free.
I am currently looking to the 40% fixed part of the portfolio to meet our cash needs until age 70. DW will claim SS at 62, helping to stem the flow from our fixed income stash.
Anyway....I am here. Anyone else here?
Sometime between 12/22/23 and 1/1/24, I will no longer be a working stiff. Of course, so far into the future I might actually be a stiff! As I tell my coworkers, death is just another form of retirement.
My last post was in the 2024 thread, but I feel more comfortable here as I do believe I will have the household fully ready late 2023 to be free free free.
I am currently looking to the 40% fixed part of the portfolio to meet our cash needs until age 70. DW will claim SS at 62, helping to stem the flow from our fixed income stash.
Anyway....I am here. Anyone else here?
I’m right with you, 2023 is my planned exit date from mega Corp. of corse anything can happen between now and then but 2023 is my target RE date. I’ll be 55 by then.
My company is shutting down some plants, finally found out my future. They are offering buy out, I plan on taking it. Spring of 23, one year severance pay. I will be 58 my DW will be 54. I'm hoping all of our planning will pay off. Current debt 2000k, 401k roughly 1 mil depending on market plus 3 years to continue adding. I make max contributions to 401, with employer contributions currently adding about 42k a year. I will receive about 1k a month pension I live in ND so plan on wintering in AZ time to avoid these cold winters.
leftyfrizzell1963
Dryer sheet aficionado
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That is great that you get such advance notice and its great timing for you. But do you have the right amount of Zeros for your current debt number above?
Rocket Man
Recycles dryer sheets
Plan to completely retire in Jan, 23, or Nov,23, at age 67 or 68. Trying to optimize Social Security per Open Social Security results. Went to part time work at 60, which makes for a nice transition to no work. DW completely retired in 2014. Looking forward to it. I will be ready!
I just joined the forum and am excited to be in the class of 2023. I am targeting March and will be 60 so not super early retirement. My husband is younger and will work a few more years so we won't have to cover health care costs on our own for too long. I did one of the countdown apps and super excited that it is nearly to the double digits in terms of number of weeks left. Yay.
Targeting ER in early 2023 as I'll be 54 (but it'll be the year in which I turn 55). Plan is to run out this year as full-time. Transition to 4 days/wk next year and ER in early 2023 for Rule of 55 eligibility.
We have enough (for us) in retirement savings and are now working to build a cash bucket. Hopeful that time flies so that I can be a better contributor to the "Life After FIRE" forum!
We have enough (for us) in retirement savings and are now working to build a cash bucket. Hopeful that time flies so that I can be a better contributor to the "Life After FIRE" forum!
skyking1
Thinks s/he gets paid by the post
I m gunning for May Day 2023. it will be deep enough into the year to max out DW's 403b contribution.
Mine will be a Standard Retirement ( SR ) at 62 and 1/3. DW will be a bit early as she is almost 4 years younger.
~104 weeks to go
Mine will be a Standard Retirement ( SR ) at 62 and 1/3. DW will be a bit early as she is almost 4 years younger.
~104 weeks to go
EastWest Gal
Thinks s/he gets paid by the post
May is a wonderful time to retire. It’s like your college summer break, only you never go back in the fall, and you aren’t broke.
skyking1
Thinks s/he gets paid by the post
wdwwildbill
Recycles dryer sheets
Hummm , Ya'll have me thinking hard on a May take off ........
DW and I have agreed on December 2023! We've been FI since my military retirement in October 2018. I'm working as a government civilian dog of the military for now. We will use 2024 as a sabbatical/trial run, but we currently expect it to be the start of our retirement. We'll be 49 1/2.
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