(Topic ID: 223399)

I'm thinking about retiring


By o-din

10 months ago



Topic Stats

  • 382 posts
  • 108 Pinsiders participating
  • Latest reply 9 months ago by NimblePin
  • Topic is favorited by 5 Pinsiders

You

Topic Gallery

There have been 43 images uploaded to this topic. (View topic image gallery).

5380335B-13E2-426A-ADBF-985FC9971415 (resized).jpeg
o (resized).jpg
Screenshot_20180823-183503 (resized).png
salton-sea (resized).jpg
70s_trapeze_t610 (resized).jpg
3316213109_198b58ea67_z (resized).jpg
rainbow (resized).jpg
o (resized).jpg
IMG_2727-Edit-2 (resized).jpg
DSCN0190 (resized).jpg
Duck Tape (resized).jpg
A737A1D8-E07A-43A5-9F10-1F96066548C7 (resized).jpeg
Unknown (resized).jpg
download (resized).jpg
download (1) (resized).jpg
Favre (resized).png

There are 382 posts in this topic. You are on page 4 of 8.
#151 10 months ago

Being 25, retirement feels a lifetime away. I know I am better off then most, but I am afraid my line of work wont sustain me long term (food distribution). Anyone have any career advice? LOL

#152 10 months ago
Quoted from erak:

Do what you enjoy doing. Then, if you no longer enjoy it, switch to something else.

This

#153 10 months ago
Quoted from underlord:

Health care? Pffft. overrated. I have Blue cross Blue sheild from work, Gold plan. Haven't seen a doctor in 13 years, I'm 52 now. Healthy like a freakin horse man, a work horse. If my body can't heal it, I'll just shoot myself.
Of course I am crazy active and never stop. THAT might kill me...

I have a wife and two kids that are on the payroll. They need coverage too. I have to have it.

#154 10 months ago
Quoted from NimblePin:

A noble profession to retire INto if I do say so myself. [quoted image]

Pizza and plow....

Pizza Plow (resized).PNG
#155 10 months ago
Quoted from colonel_caverne:

Retirement? There is no legal age for retirement in the US?
Talking about retirement or retraining?

#156 10 months ago
Quoted from o-din:

I just remembered why I took my current job 6 years ago. I was unemployed because the last boss was an asshole and he wanted someone cheaper I think.
I was on cruise control then but decided to apply for a home equity line of credit anyway just in case I might need it. So I take my fully paid off house and perfect credit score to the credit union I have been a member of most of my life and filled out an application.
They said no! I said why not? They said you don't have a job, come back when you have had one for at least a year. I got pissed and said I'm trying to borrow against my house that is all paid off and I have a perfect credit score, Take the money and give it to the immigrant that took my last job so he can buy my house and I can get the fuck out of Dodge!
Then I settled down and found a job. So before I retire I must go fill out another application.

And if there's any issue, there's always Poncherello's reverse mortgages.

Ponch (resized).PNG
#157 10 months ago
Quoted from snakesnsparklers:

Property taxes are still a bitch even after the house is paid off.

Not if you're in CA and you bought a long time ago. Long live Prop 13!

#158 10 months ago
Quoted from NorCalRealtor:

Not if you're in CA and you bought a long time ago. Long live Prop 13!

As I mentioned in post #91 in this thread:
https://pinside.com/pinball/forum/topic/out-of-room-throw-up-a-steel-building/page/2#post-4313716

#160 10 months ago
Quoted from the96stang:

Anyone have any career advice? LOL

Find a nice union job with a pension, and you might be able to retire in 25 years.

#161 10 months ago

I "officially" retire in 5 months. I was in no hurry. The wife said when we have 1.5M I retire. The only problem is, she is 8 years younger than me and health ins (New Jersey) would be about $1,200 a month! I hope something better comes along by the end of the year!

#162 10 months ago
Quoted from spfxted:

I "officially" retire in 5 months. I was in no hurry. The wife said when we have 1.5M I retire. The only problem is, she is 8 years younger than me and health ins (New Jersey) would be about $1,200 a month! I hope something better comes along by the end of the year!

Good for you! You have a better medical deal than me. $1800.00/month at the moment with the kids still in college. That is for Medical, dental and vision though. Drawing my pensions but the COmpaNy I worked for disCONtinued the medical coverage until Medicare eligible aboot eight years ago.

#163 10 months ago
Quoted from spfxted:

I "officially" retire in 5 months. I was in no hurry. The wife said when we have 1.5M I retire. The only problem is, she is 8 years younger than me and health ins (New Jersey) would be about $1,200 a month! I hope something better comes along by the end of the year!

I would love to pay $1200/month, that is pretty damn good actually

#164 10 months ago
Quoted from TheLaw:

Find a nice union job with a pension, and you might be able to retire in 25 years.

Mine was the 85 point deal with a point for each year of service plus a point for each year of my age. Then near the end they raised the requirement to 86 points. I had to work an extra year. Non-union COrporatioN....

One catch with the plan, you must be 55 to retire regardless of points. I started at 24 so it should have been 30 1/2 years for me to retire from there.

#165 10 months ago
Quoted from TheLaw:

Find a nice union job with a pension, and you might be able to retire in 25 years.

I have a union job and theres no way we can even consider retiring until age 62 and then you better have a good chunk of change saved up. I think the days of the good union jobs are long over.

#166 10 months ago
Quoted from Who-Dey:

I have a union job and theres no way we can even consider retiring until age 62 and then you better have a good chunk of change saved up. I think the days of the good union jobs are long over.

Law enforcement and Fire fighter pensions are pretty good. Plus, many let you retire at 50, 48 and some 45.

Military is even better. as medical coverage is greta.

#167 10 months ago

I pay around $400 per month for my wife and 2 daughters still at home

I quit Obamacare a few yrs ago for the “short term” plans

As long as you didn’t get a refund from your tax return there was nothing they could do about it with regard to the individual mandate

Right before Obama exited they tried to cut down on those plans by making them rolling 3 month terms

Now that the individual mandate is finished these short term plans are back to 6 months to a yr

Mine is with Humana and better than what I had under Obamacare for a fraction of the cost

Prescriptions go through Good Rx and even cheaper

If you have a major pre existing condition like heart attach or cancer then you are back to Obamacare

#168 10 months ago

No dental or vision on the above

#169 10 months ago

Building trade unions are not that great. Now city and state unions provide a real nice retirement usually 95% of working income.

#170 10 months ago
Quoted from Buzz:

Building trade unions are not that great. Now city and state unions provide a real nice retirement usually 95% of working income.

In Cali they do Buzz! Partly why so many local cities are in trouble and the state is bankrupt.

All they gotta do is raise taxes again

#171 10 months ago

Pffft Stockton is doing fine.

Wait. Did you just reply to yourself?

#172 10 months ago
Quoted from BoJo:

I figured you were retired with how much you post on here.

If he retires from his current job, he'll be on Pinside a lot less.

#173 10 months ago

I really feel you have to build your own plan. It's way to easy for pensions and social security to just disappear IMO. They can keep raising taxes to the point it just doesn't make sense to work anymore. We now are even building homes for the homeless. Everyone is so f'n entitled these days and it's not your fault you made your decisions.

#174 10 months ago
Quoted from Jvspin:

Yes, he would.
[quoted image]

You stole o-dins line

#175 10 months ago

I got lost in all this.

Is o-din thinking or retiring ?

Or is this his Yelp thing and he's putting new tires on cars ?

LTG : )

#176 10 months ago
Quoted from o-din:

I'm thinking this might be my next NIB purchase. Then I'm covered for a while. Also takes care of any medical expenses.[quoted image]

I get it NIB as in New In Barrell!!...

#177 10 months ago

I say if three days is harshing your nog then be free. Just be careful dealing with most people is a major downer and especially new pinball owners.

#178 10 months ago
Quoted from HomeBrew:

I retired 15 years ago at 55 and I wish I had done it sooner.

Retired two months ago at 48 and it doesn’t suck

#179 10 months ago
Quoted from o-din:

And doing side jobs working on pinball machines to get by

I can imagine the Yelp Reviews to come.....

"I dropped off my machine, they say it is fixed, a now it sometimes makes a knock sound? Also there are these lights that show up 0 through 9, it never did that before?" "What have they done?"

#180 10 months ago

As long as you still can attend rock shows and drink Jack Daniels

#181 10 months ago

Or the pinside post about what would you do I dropped my EM off three weeks ago and can't get a call back kind of shit.

#182 10 months ago
Quoted from underlord:

Health care? Pffft. overrated. I have Blue cross Blue sheild from work, Gold plan. Haven't seen a doctor in 13 years, I'm 52 now...

At 52 - I was healthy too.
At 53 - I was found to have cancer, BCBS paid everything.
At 54 - Cancer free and thank God that I had and still have good health insurance.
At 58 - Also thinking about retiring early. Come home to my "honey-do" lists and gladly go back to work for rest after the weekend!

#183 10 months ago
Quoted from Buzz:

Or the pinside post about what would you do I dropped my EM off three weeks ago and can't get a call back kind of shit.

Definitely, you know there will not be any e-mail updates sent out, or FB posts.

#184 10 months ago

You should throw underground arcade parties. Those EM's can eat some change and charge for donation cups of jack.

#185 10 months ago

Oh wait same winey people will complain that there's no ball save. Never mind. Get on the pro bowling league instead.

#186 10 months ago
Quoted from yzfguy:

Retired two months ago at 48 and it doesn’t suck

Damn that's young to retire, how'd you swing that, if I may ask...

#187 10 months ago
Quoted from swampfire:

I’m coming up on 55. This is the formula I use:
Annual taxable income = .04*(IRA balance - (65-age)*(annual health insurance cost))
When that annual income stops looking scary, I’ll retire.
(Edit: I forgot the 10% penalty, but I’m not drawing money out of my IRA before 59-1/2)

What I write here is NOT financial advice! Regarding that 10% penalty for early withdrawal:

The IRS has an exception to the 10% penalty (I've read it on irs.gov) that says if you have a 401k with your current employer and you separate from that employer anytime in or after the-year-in-which-you-turn-55, you can withdraw money from that 401k prior to age 59 1/2 without incurring that 10% penalty.

Points to ponder:

I am not talking about the Rule of 72T here, for those who know of that method.

You still will be taxed on the withdrawal. I'm talking only about the 10% penalty for early withdrawal.

Your plan has to allow partial withdrawals to make this idea useful, but geez I think most plans do allow partials. If your plan only allows 100% withdrawals, yeah you avoid the 10% penalty but you would get taxed on that whole amount all at once.

By saying "separate", you can quit, be fired, retire, get laid off, whatever. It doesn't matter HOW you separated.

This exception applies only to the 401k that you have with the employer from whom you separated in or after the-year-in-which-you-turn-55. That is, if you have another 401k from a previous employer, withdrawing from that 401k before age 59 1/2 will still cause you the 10% penalty. However, I have heard of savvy people who, before retiring, will first rollover their earlier 401k(s) into their current 401k, and that way all of their 401k money is accessible without the penalty. Perhaps this makes sense for a situation where a previous employer's 401k is where the bulk of your money is.

Read up on this for yourself. I am not advocating early withdrawal but, if you qualify for this, it's nice to know you don't have that 10% penalty to worry about if if if your world goes crash before you reach 59 1/2. For me, it was an emotional safety cushion to know this.

#188 10 months ago

It's not that I really dislike the job, it's that lately I like sleeping in.

Good morning!

#189 10 months ago

You deserve it. Time to f life in the ass. Disclaimer I have been drinking excessively while you were sleeping.

#190 10 months ago
Quoted from the96stang:

Being 25, retirement feels a lifetime away. I know I am better off then most, but I am afraid my line of work wont sustain me long term (food distribution). Anyone have any career advice? LOL

Insurance Underwriting is a great career. I make around $175k with bonus. We need young people in our industry. You start at about 80k. Need business degree. I have been underwriting 29 years. I started at 26. I underwrite business insurance!! All companies need insurance. I have never been without a job!!

#191 10 months ago
Quoted from MrBally:

One catch with the plan, you must be 55 to retire regardless of points....

Quoted from Who-Dey:

I have a union job and theres no way we can even consider retiring until age 62 and then you better have a good chunk of change saved up. I think the days of the good union jobs are long over.

Only a matter of time before they get rid of them all together. I actually don;t know what the new crowd joining have to do, but for me it's 25 served and 50 Y/O...dropping in 2025.

#192 10 months ago
Quoted from Buzz:

You deserve it. Time to f life in the ass. Disclaimer I have been drinking excessively while you were sleeping.

Me three

At my favorite bar in Lubbock gettin banged up

Kid #2 gone

They have a great pinball place by campus. Flippers Tavern

#193 10 months ago

Odiner. Bartender is your next calling!

Work late on weekends, sleep all day

#194 10 months ago

Yeah, the nights have been a lot more forgiving than these hot days lately and I like hanging out in the garage after it cools down. I know if I've made it to Twilight Zone, I'm in for the long haul.

DSCN5958 (resized).JPG
#195 10 months ago

Iceman there is no way in hell someone smart enough to go to college is leaving that backyard pool and pin collection. LOL that's great news I hope mine don't rebel and stay.

#196 10 months ago
Quoted from iceman44:

Odiner. Bartender is your next calling!
Work late on weekends, sleep all day

I almost went to bartender school a long time a ago, but there was something about being the only guy in the bar not drinking. However there are certain perks working with all those barmaids and being the hero to the lovely ladies that are drinking that sounds quite appealing.

#197 10 months ago

Do it. All the dive bars I've ever gone to allow the bartender to par take . And panties drop for bartenders especially with a little age for all those daddy issues. You would actually be doing society a favor.

#198 10 months ago
Quoted from Buzz:

And panties drop for bartenders especially with a little age for all those daddy issues.

No daddy issues required. I still look like I'm in my 30s and feel like I'm in my 20s. If I can keep the 50+ year old brain in check, then it could certainly be a win.

#199 10 months ago

F it drop in on that big wave of life. Do a little old school toes to the noes and mop up all the benefits you can. Life tells you to be old and boring, but you can always call the shots and have a woman younger than the pin she is bent over on. Live life and enjoy don't be a slave to the system.

#200 10 months ago
Quoted from WolfManCat:

Time for Odins Great American Pinball Repair Tour 2019.

If you decide to check out the east coast, stop on over; Nic did on his tour. Plenty of collectors in the area.

Promoted items from the Pinside Marketplace
From: $ 22.95
Apparel - Men
Great American Pinball
$ 18.99
Eproms
Matt's Basement Arcade
$ 123.00
Playfield - Toys/Add-ons
Lermods
$ 75.00
Playfield - Toys/Add-ons
pinballmod
From: $ 99.00
Lighting - Under Cabinet
Rock Custom Pinball
$ 92.00
$ 99.99
Playfield - Toys/Add-ons
Lighted Pinball Mods
$ 179.00
Flipper Parts
Mircoplayfields
$ 18.99
Eproms
Matt's Basement Arcade
$ 7,499.00
Pinball Machine
Gulf Coast Pinball, LLC
$ 89.95
Cabinet - Shooter Rods
Super Skill Shot Shop
$ 48.00
Cabinet - Other
ModFather Pinball Mods
$ 89.99
$ 11.95
Playfield - Toys/Add-ons
ULEKstore
$ 28.25
Playfield - Toys/Add-ons
The MOD Couple
$ 137.00
$ 10.00
Cabinet - Sound/Speakers
Gweem's Mods
$ 27.99
Eproms
Matt's Basement Arcade
From: $ 99.99
Cabinet - Other
Lighted Pinball Mods
From: $ 9.99
Eproms
Matt's Basement Arcade
From: $ 230.00
$ 42.00
There are 382 posts in this topic. You are on page 4 of 8.

Hey there! Got a moment?

Great to see you're enjoying Pinside! Did you know Pinside is able to run thanks to donations from our visitors? Please donate to Pinside, support the site and get anext to your username to show for it! Donate to Pinside