LEO Just retired...

[Good2Go]

Just found this forum today. I'm here to read, listen, and learn. Thanks.

Retired last month at 54.5 after 28 Yrs 10 Mos from regular service LE Career at about 90%. Contributed to my retirement about $800K since day 1 but will get a monthly retirement checks for life beyond the contribution. Our award winning public retirement system (dedicated) is among the best in the nation. If/When I die, DW is getting 100% of my monthly retirement check. Medical/Dental covered as part of work retirement benefits. Also, I bought another 5 years of service credit (paid $162K over 10 yrs -and got an extra approx. 13.5%) to have a total of 33 years on the book.

I'm waiting for first retirement check end of month, should be about $13,500/Mo. We get about 2% COLA raise every year on April 1st. So, I'll get a raise on the second pension retirement check. Good to go. We don't have SS. Paid into retirement pension monthly while working.

Have about $300K in 457 Deferred Comp savings (took advantage of 4% county matching), another $90K in after-tax investments. Expect checks total at least over $200K for all unused sick/vac/holiday/comp times and workers comp payout. My body is all broken up from 28+ years of LEO work. I'm spent and done.

Wife is 52 and selft-employed with about $3K-5K+/mo. COVID killed her beauty business. Two grown sons, both working.

For me, LE has been a true calling, humbling, exciting, challenging, and rewarding career. Served 6 years Marine Corps while working - only benefit was using my GI Bill towards my BS and MA degrees. Now it's our time to enjoy doing whatever we want. Glad to be here with all of you fine folks.

 

[Sunset]

Welcome !

I guess you are not going to be asking the "can I afford to retire?" question

 

[Good2Go]

How can I not (afford to) retire now? �� I'll be back 100% and more within 5 years! Work to live, not live to work.

 

[ImThinkin2019]

Welcome!

Congrats on your planning. Hope your body holds out enough that you can enjoy light exercise like walks. We do lots of them and it gives us time to talk plus a little fitness.

Since you just discovered this forum, you might check out the 2023 funny joke thread.

Look forward to hearing from you about your experiences.

 

[old medic]

For me, LE has been a true calling, humbling, exciting, challenging, and rewarding career. Served 6 years Marine Corps while working -

Welcome to the forum, and thank you for your dedicated service. Spent 36 years with EMS. I miss some off the clowns, but not the circus.

 

[Out-to-Lunch]

Welcome aboard! Enjoy your retirement.

 

[pacergal]

Welcome to the forum! Look forward to hearing more from you.

 

[Gumby]

Welcome aboard.

 

[MarieIG]

Thank you for your service Sir.

 

[Good2Go]

So, I tried the FIREcalc and it showed 100%. I guess it's good to go then?

 

[Good2Go]

Welcome to the forum, and thank you for your dedicated service. Spent 36 years with EMS. I miss some off the clowns, but not the circus.

True, I was just another clown in the circus. Miss some of the crew but the dog and pony show is getting ridiculous and crowd is getting rough.

 

[Out-to-Lunch]

So, I tried the FIREcalc and it showed 100%. I guess it's good to go then?

Financially, probably yes! You may want to ponder dome of these questions:

https://www.early-retirement.org/forums/f47/some-important-questions-to-answer-before-asking-can-i-retire-69999.html

 

[Bigdawg]

Served 6 years Marine Corps while working - only benefit was using my GI Bill towards my BS and MA degrees.

Welcome and congrats. Since you did the jar head thing for 6 years you might rate some VA Disability. Not that you need it with that huge pension but worth trying. Also VA medical can be a second option if for some reason your regular medical gives you issues. Little things like drugs at military base pharmacies or VA pharmacies vice paying copays for drugs through your medical insurance. Good luck.

Semper Fi.

 

[Toocold]

Congratulations!!!

 

[braumeister]

Welcome to the club. There are quite a few of us here who are retired military/LEO/medical types, and even though our concerns are sometimes a bit different from the purely civilian folks, they're not really all that different.

And we often have some amusing anecdotes to share!

 

[powerplay]

Congratulations and welcome to the forum!

 

[Car-Guy]

Congratulations on your retirement and welcome to the forums.

 

[Dash man]

Welcome to the club! You’ll love retirement! Especially the part where you don’t set an alarm before bedtime. Chill for a few weeks and maybe plan a nice trip for you and your DW.

 

[Good2Go]

Welcome and congrats. Since you did the jar head thing for 6 years you might rate some VA Disability. Not that you need it with that huge pension but worth trying. Also VA medical can be a second option if for some reason your regular medical gives you issues. Little things like drugs at military base pharmacies or VA pharmacies vice paying copays for drugs through your medical insurance. Good luck.

Semper Fi.

Thanks, Devil Dog. Been hard charging and ground pounding at my second agency (most recent) for the past 20 years really messed up my back, neck, legs, high blood pressure, hearing loss, you name it. Retired as a.Segeant, sam rank as USMC. Besides regular LE duty assignments, I was also active member of special response team for several years, member of use of Force instructor and Honor Guards for the past 14 years. Wore many hats. Good times. Waiting for worker's comp settlement iand final evaluation for disability retirement whithin the next 6 to 12 months. SFMF.

 

[Act2]

Welcome! You’re among friends here.

 

[iloveyoga]

Law Enforcement Officer.

 

[MarieIG]

So, I tried the FIREcalc and it showed 100%. I guess it's good to go then?

You have a very, very good reliable base income in your (well earned) pension and health care. I also noted that you also secured your DW's future.

So, you did see the list of questions referenced by Out-to-Lunch. Most you have already considered. Just - live within your means - and you should be fine. (I suspect, from some of your life choices, that you are a disciplined person, and this won't be much of an issue, but I'm just throwing it out there.)

 

[EastWest Gal]

I knew that LE and firefighters were well paid in California, and that is a very nice pension. You earned every penny. Enjoy your retirement!

 

[Good2Go]

You have a very, very good reliable base income in your (well earned) pension and health care. I also noted that you also secured your DW's future.

So, you did see the list of questions referenced by Out-to-Lunch. Most you have already considered. Just - live within your means - and you should be fine. (I suspect, from some of your life choices, that you are a disciplined person, and this won't be much of an issue, but I'm just throwing it out there.)

Thank you. It was a rewarding career. Time to enjoy life now. I did review the list of questions. We should be OK with my pension and DW still working her business for the next few year as she's still enjoying it. We don't live a lavish lifestyle but surely will go out and travel more.

 

[Good2Go]

I knew that LE and firefighters were well paid in California, and that is a very nice pension. You earned every penny. Enjoy your retirement!

I'm glad to have made the right lateral career move to a larger agency with better opportunities, work assignments, wages and benefits, and union that fought for us. Thanks, I surely earned it the hard way like every other LEO or Fire guys/gals - nothing is given. It was an amazing run and I'll gladly humbly serve again. However, now, it's my time to enjoy.