What's your Current Age/Retirement Age/Total working years

[boatfishandnature]

Pensions were typically not designed to accomodate very early retirement, quite the opposite. They were designed to encourage longevity at a single company. The people with defined benefit pensions typically have to put in many years at a company and reach a certain age. In my megacorp, you would not be eligible to receive even a reduced pension until you reached 55 with a minimum of 15 years at the company... so nobody there could retire at 40, either, unless you had the savings to cover the 15 year gap... and the pension would be very small if you had only worked from 22 or 25 to 40, in any case.

 

[plex]

Current age: 28
Retirement age: 36
Years working (full-time): 12
Pension: Probably, somewhat small, COLA'd (SS yes, about the same size as pension, combined they will cover about 50-80% of my basic needs when I finally start collecting from them)

This is with me basically screwing up big time by going to law school, in retrospect I could have skipped law school and been ready by 31, with only 11 full working years required.

 

[LauAnn]

In 7 months will have 34 years in and plan to retire at 55.

 

[Brdofpray]

Current age: 58 (DW 57)
Retired: 55 (DW 54)
Years working (have forgotten that stage of life already): 30 (DW 33 years)
Pension: DW and I both have pensions (Public County, and Public School) both COLA'd
SS: I will have SS, DW will not.

Hard to believe it has been three years. Time's fun, when you are having flies!!! (or vice versa)

 

[ejman]

Retired at 52 No pensions. Worked for 26 years after graduating with MBA.

 

[MichaelB]

I am 58, retired at 46, worked 30 years. Enough years to qualify for SS and Medicare, but mostly when I was in high school and college so a SS pension that is not meaningful. Lots of luck so far, we rely on our portfolio for 100% of income and will need that for life.

 

[HighRoller]

Current age - 61
Retried at 60
Worked a total of 38 yeras for "2" megacorps
No pension (except SS, maybe)

 

[JOHNNIE36]

Current Age: just turned 76
Retire Age: 51 1/2. Just starting my 25th year of retirement.
Years of Service: 34 years with General Motors
Pension: Defined Benefit.
Buyout and special early retirement at 51 1/2
Pension benefits now under Prudential through annuity purchase


The only way I was able to do this was with special early benefits such as two years salary and they also paid me social security equivalent until I reached 62. When I started receiving SS benefits that supplement was eliminated and replaced with my normal earned pension. Pension was never COLA'd.

 

[ShortInSeattle]

Current Age:33
Projected Retirement Age: 50 (45 is best-case, but not counting on it.)
Total Working Years: 25-30 post-college.
Pension: None

 

[RAE]

Current age: 57
Retired at: age 54.5 (fed. govt)
Worked for: 31 years
Pension: yes (not large, but it is COLA'd)

 

[KM]

Current age - 54 11/12. DH 55 6/12
Plan to retire - age 55 3/12. DH 55 9/12
Worked 33 years. DH 35 years.
Pension - Yes (both non-COLA)

 

[cons]

31
46
25
yes

 

[dessert]

6 years duty with Uncle Sam's Navy, 34 years with Megacorp. ER at age 60. To this day, Megacorp still has pension plan in place for all employees both existing and new hires.
Only benefit change is that new employees being hired today will not have employee medical coverage when they retire.

 

[catccc]

If you like, we can always merge the threads - just a thought.

Yes, please! That would be great. I think the young dreamers thread has more responses, so that would be the one to keep.

 

[Moscyn]

Current age: 52
Retired at: age 50
Worked for: 27 years
Pension or equivalent : yes, from previous employers. But the total amount is not possible to fund retirement spending. Only contributes to it by approx 25%.

 

[Rambler]

Current age: 50 (DW 50)
Will retire at: 51+ (DW SAHM since first child in 1987 (age 25)...retired from SAHMing in 2009 (age 47), now just SAHDW)
Working years: 27+ at megacorp (was midi-corp when I started), 8 years of PT during HS and university, DW worked FT for 4 years, and PT at home during SAHM years.
Pension: What's that We'll be funding ourselves, already FI.

Only worry is health insurance. Home is paid off. No other debt.

DD graduates university in April '13, DS "probably" in Dec '13. DD is married and off the payroll already. DS still on the payroll...but will be off no later than Dec '13.

R

 

[kumquat]

Age: 63
Retired at: 58
Full time work: 41 years
Pension: DC (about 24% of NW)

 

[obgyn65]

Current Age: 47
Projected/Goal Retirement Age: 47
Total working years: about 10 in the US, 10 more abroad
Pension: small

 

[scrabbler1]

Current age: 49
Retirement age: 45
Total working years: 23 (first 16 full-time, last 7 part-time)
Pension: Yes, it was frozen in my first year of working part-time, so those reduced wage years had no impact on it.

 

[Nemo2]

Current age: 70 (yesterday)
Quit working: 46
'Serious' working time, (not counting pick-up jobs between 'traveling'): about 15 years (half of which was spent in Saudi Arabia)

Pension: Small Canadian CPP/OAS

 

[Trawler]

Retriement age almost 52 after 29 years of work 3 companies no pension

 

[sunrise]

Current age: 46
Retirement age goal: 55 - 60
Total working years: 15 in US; prior to that a handful of FT years in Canada. 9 more to go.
Pension: No (SS US&Can combined.)

 

[panhead]

Current age: 42
RE: somewhere between 45-50 but I'll hit borderline FI early next year
total working years: 18-23
Pension: No just SS for whatever that's worth

 

[Lazarus]

Age 55
Retired 55
Working years 37
Pension yes

 

[floridanurse]

Current age: 38 (10 years working so far)

FI and Semi retire: 50

Full retire: 55 (probably)

No pension.

Im in healthcare, I'm a Certified Registered Nurse Anesthetist (CRNA) and will have the ability to work part time during semi retirement.