(Topic ID: 223399)

I'm thinking about retiring


By o-din

1 year ago



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  • 382 posts
  • 108 Pinsiders participating
  • Latest reply 1 year ago by NimblePin
  • Topic is favorited by 5 Pinsiders

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There are 382 posts in this topic. You are on page 5 of 8.
#201 1 year ago

F pinball go on a sex tour of American cities. Pinball nothing more satisfying as a high score on an old game and nothing more satisfying as well you know

#202 1 year ago

#203 1 year ago
Quoted from o-din:

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

That's not retirement, that's LIVING!

#204 1 year ago
Quoted from MrBally:

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

28 years in the fire service...I am eligible to retire next month at 48. Retiring at this age sounds great until you tally up the physical injuries accumulated throughout a career. Two fractured cervical vertebrae, 3 ruptured lumbar discs, and one heart attack from chemical exposure...quality of life sure takes a hit.

The pension system is no longer offering health insurance beginning in 2019, need to work through a third party for coverage. With a wife and two kids in college, it makes pulling the trigger a hard decision.

#205 1 year ago

I'm thinking about screwing Charlize Theron, who cares.

#206 1 year ago
Quoted from Rody:

28 years in the fire service...I am eligible to retire next month at 48. Retiring at this age sounds great until you tally up the physical injuries accumulated throughout a career. Two fractured cervical vertebrae, 3 ruptured lumbar discs, and one heart attack from chemical exposure...quality of life sure takes a hit.
The pension system is no longer offering health insurance beginning in 2019, need to work through a third party for coverage. With a wife and two kids in college, it makes pulling the trigger a hard decision.

Same spot I was in but a bit older than you. Could no longer afford to leave all the pension money on the table, plus, my plan penalizes you for staying after hitting 86 points. It actually starts dropping hitting a low point 25% lower in six years. Then it grows back to the full amount in three more years.
They figure you're drawing a salary longer so you don't need as much. I bailed as the commute became unbearable and management truly became inept. Since I left, 22 people out of an 85 person group quit or retired.

Got another job with a short, no freeway drive with the same pay and drawing my pension (two actually, due to a corporation change) same pay, a car (did not have at the old place) with grossed up pay for personal use. Only downside is higher medical but I'm still ahead and able to save even more for my real retirement.

Why risk any more physical / medical injuries? Leave next month and get another job with less demands. If your pension plus new job salary is a dollar higher, you win.
Of course if you can truly retire, do it. Highly recommended.

#207 1 year ago

If you can do it, do it. I just turned 41 and hope to retire at 55. I do sales, and sadly, I will never have a pension based upon the type of work and the need to switch companies every few years but I have been maxing out my 401k since 20 and have a strong retirement portfolio. We just recently moved to a lifetime dream situation for me (waterfront with acreage on the Chesapeake Bay) and going through a massive remodel to get the house up to snuff, but we know it is going to be worth it in the long term for my family and financially. Life is short and if it makes sense to retire and will bring you happiness, go for it!

14
#208 1 year ago

I just started a tv delivery service. You want in?
It's gonna do way better than that 7 minute abs thing.
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#209 1 year ago
Quoted from MrBally:

That's not retirement, that's LIVING!

I plan on doing a little more of the living soon.

#211 1 year ago

It's 1:40 AM. Do you know where your Kolchak is?

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#212 1 year ago

Retiring from pinside!? say it aint so!

#213 1 year ago
Quoted from NeilMcRae:

Retiring from pinside!? say it aint so!

Not gonna happen Neil. O-din will be here for about 30-40 more years at least!

#214 1 year ago

49 and also looking at 55 for retirement. Hopefully there are some better healthcare options than there are today in 2024 but either way I have a game plan. I know a lot of people who retire at 62+ who have had serious medical issues once they retired. I still have a lot of stuff I want to do and I want to be young/healthy enough to enjoy them.

A lot of my goals rely on the US economy continuing its long boom. A recession/depression and all bets are off.

#215 1 year ago
Quoted from Rondogg:

A lot of my goals rely on the US economy continuing its long boom. A recession/depression and all bets are off.

You have a good plan. You may want to start mapping out alternates if the economy does not continue to prosper though.

#216 1 year ago
Quoted from Rondogg:

49 and also looking at 55 for retirement. Hopefully there are some better healthcare options than there are today in 2024 but either way I have a game plan. I know a lot of people who retire at 62+ who have had serious medical issues once they retired. I still have a lot of stuff I want to do and I want to be young/healthy enough to enjoy them.
A lot of my goals rely on the US economy continuing its long boom. A recession/depression and all bets are off.

What’s your plan?

#217 1 year ago

I read something in Kipplinger’s a few years ago that really stayed with me: Are you planning for a rainy day or a sunny tomorrow? I know not everybody is in that position but if your are or can get to it, it really is a mind shift.

#218 1 year ago

A good way to look at it is can you use residual income (Pension, Social Security, dividends, palimony) and draws from retirement accounts to live the way you want to for the number of years you want to while having medical coverage, including Medicare once you hit 62-67 depending on your social security draw age?

If so, you no longer need to work.

#219 1 year ago
Quoted from MrBally:

A good way to look at it is can you use residual income (Pension, Social Security, dividends, palimony) and draws from retirement accounts to live the way you want to for the number of years you want to while having medical coverage, including Medicare once you hit 62-67 depending on your social security draw age?
If so, you no longer need to work.

Minor point, Medicare is independent from SS draw age. You can’t start Medicare before 65. Also you can start Medicare at 65 even if you are delaying SS draw until later.

#220 1 year ago
Quoted from Rondogg:

49 and also looking at 55 for retirement. Hopefully there are some better healthcare options than there are today in 2024 but either way I have a game plan. I know a lot of people who retire at 62+ who have had serious medical issues once they retired. I still have a lot of stuff I want to do and I want to be young/healthy enough to enjoy them.
A lot of my goals rely on the US economy continuing its long boom. A recession/depression and all bets are off.

I hope you have a good plan for a 55 retirement. I've had friends say the same thing, until I point out to them that retiring at 55 instead of 62 means you'll not be saving 7 additional years, but will actually be spending 7 additional years. Also, those last 7 years of saving is when the interest compounding really adds up.

#221 1 year ago

Retire and find a fun part-time job even if it pays shit. Like the guy that washes cars at car dealership or like drives the shuttle vans around at hotels. You know what I mean. As far as the medical benifits..if you don't got it, live healthier. Eat better. And thats it.

#222 1 year ago
Quoted from Bryan_Kelly:

I hope you have a good plan for a 55 retirement. I've had friends say the same thing, until I point out to them that retiring at 55 instead of 62 means you'll not be saving 7 additional years, but will actually be spending 7 additional years. Also, those last 7 years of saving is when the interest compounding really adds up.

Especially when you have to assume that life expectancy will continue to increase and your chances of out living your savings is very real.

#223 1 year ago
Quoted from Bryan_Kelly:

I hope you have a good plan for a 55 retirement. I've had friends say the same thing, until I point out to them that retiring at 55 instead of 62 means you'll not be saving 7 additional years, but will actually be spending 7 additional years. Also, those last 7 years of saving is when the interest compounding really adds up.

Indeed.

In 4 years, I can leave and collect. At 50, if I can find a job to pay the other half of what my salary and insurance is now, I will do it. The problem. At my age and what I make, I can’t walk into another career, even in the same industry and demand what I’m getting paid. I’ve painted my self into a corner and the cost of living and insurance or property taxes going up doesn’t help. As it stands now, I will be at my job until, I’m forced out or reduced out.

#224 1 year ago
Quoted from Who-Dey:

What’s your plan?

Healthcare: My employer lets me continue my healthcare if I leave at 55 or later. Still pretty expensive ($1000 to $1500/mo.) but doable. By then, who knows what ACA is going to look like.

Quoted from Bryan_Kelly:

I hope you have a good plan for a 55 retirement. I've had friends say the same thing, until I point out to them that retiring at 55 instead of 62 means you'll not be saving 7 additional years, but will actually be spending 7 additional years. Also, those last 7 years of saving is when the interest compounding really adds up.

I'm a Financial Adviser so I have been planning for this for decades. I have multiple revenue streams and extreme diversification (including physical precious metals).

I can live pretty well on 5% of my savings per year until I hit my 60's and start drawing Social Security and a small pension I have. Through that time my portfolio is set to earn 6% per year (no Guarantee but who knows what laddered cd rates will look like in 5 years!). My mortgage will be fully paid 6 years early (about the time I turn 55) and I plan on downsizing the house/lifestyle for retirement. I don't buy NiB pinballs and I run my cars until they are just about dead. I also plan to keep my professional licenses and work part time or ramp up my part time business if necessary. I've tried to cover all the bases but sure, a layoff, health scare, recession or some unexpected situation could change my circumstances. That's why it's a plan, not a guarantee.

#225 1 year ago
Quoted from Rondogg:

I'm a Financial Adviser

Well, ya didn't tell me that. I thought you were just some dipshit with a brain fart.

At least you know what you're doing, unlike so many others.

#226 1 year ago
Quoted from Gryszzz:

I just started a tv delivery service. You want in?
It's gonna do way better than that 7 minute abs thing.
[quoted image]

Oh yeah? I started a meat delivery service. Gonna franchise. You want in?

butcher delivery (resized).jpg
#227 1 year ago
Quoted from o-din:

Do you know where your Kolchak is?

Ah, there he is.

#228 1 year ago

This is exactly what I did 5 years ago. Pinball repair/refurbish/restoration is my main gig now. Lucky enough to call it quits at 47. Have to balance the demand though - it is pretty close to becoming work at this point and that is not what I wanted...

#229 1 year ago

Never turn a hobby into a job.

#231 1 year ago

Reading everyone's story about dealing with health insurance is really scary. I live in a country with socialized medicine so having to think about what I would do if I lost coverage is so alien - even the most destitute homeless person here would be covered in the event of any medical need.

The fact you guys have to consider that makes me wonder why you put up with that instead of screaming for single payer socialized medicine.

#232 1 year ago
Quoted from MrBally:

Never turn a hobby into a job.

It's already a job.

#233 1 year ago
Quoted from Buzz:

F pinball go on a sex tour of American cities.

How does one do this? Asking for a friend....

#234 1 year ago
Quoted from jwilson:

Reading everyone's story about dealing with health insurance is really scary. I live in a country with socialized medicine so having to think about what I would do if I lost coverage is so alien - even the most destitute homeless person here would be covered in the event of any medical need.
The fact you guys have to consider that makes me wonder why you put up with that instead of screaming for single payer socialized medicine.

Its because people are brainwashed into voting against their own self interest. If you're for single payer health care , (which I am) you get labeled a Socialist, which is a dirty word around these parts. No, instead we'll spend our money on other things like for instance, fighter jets we don't need. Nothing in our political system is ever done for the greater good anymore. It's all about greed and power.

#235 1 year ago

This could be us,...
but yer too busy hoardin screwdrivers from pretentious single moms that have Yelp open on their phone as they're petulantly demanding things from you.
20180819_203323 (resized).jpg

#236 1 year ago
Quoted from jwilson:

Reading everyone's story about dealing with health insurance is really scary. I live in a country with socialized medicine so having to think about what I would do if I lost coverage is so alien - even the most destitute homeless person here would be covered in the event of any medical need.
The fact you guys have to consider that makes me wonder why you put up with that instead of screaming for single payer socialized medicine.

The closest we have to single-payer healthcare in this country is the VA and Indian Health Service, both of which are known for long wait times. Unfortunately when it comes to a limited resource like healthcare there are always trade-offs.

There are 3 aspects to healthcare that we all desire:
-High Quality
-Low Cost
-Easy Access

It is only possible to have 2 out of those 3. There are no easy answers.

#237 1 year ago

All this talk reminds me of a saying

"Man plans, god laughs"

#238 1 year ago
Quoted from o-din:

It's 1:40 AM. Do you know where your Kolchak is?
[quoted image]

Charter channel 723 or Chanel 54.1 over the air.

#239 1 year ago
Quoted from jwilson:

Reading everyone's story about dealing with health insurance is really scary. I live in a country with socialized medicine so having to think about what I would do if I lost coverage is so alien - even the most destitute homeless person here would be covered in the event of any medical need...

With kidney stones in US - I got straight in to doc, had CT scan and then Lithotripsy. Finished in < 24 hrs (the wonderful 'prep' for Lithotripsy procedure took longest).
At the time of the first occurrence - Canada wait time was more than 4wks for just the CT Scan (kidney stones was not considered an emergency!?), Lithotripsy was considered to be an "elective" and was several weeks longer. Supposedly the wait times have dropped considerably but can still take several days.

I find it scary that it could take several days or even weeks to correct something as simple yet extremely painful as kidney stones.

#240 1 year ago
Quoted from G-P-E:

With kidney stones in US - I got straight in to doc, had CT scan and then Lithotripsy. Finished in &lt; 24 hrs (the wonderful 'prep' for Lithotripsy procedure took longest).
At the time of the first occurrence - Canada wait time was more than 4wks for just the CT Scan (kidney stones was not considered an emergency!?), Lithotripsy was considered to be an "elective" and was several weeks longer. Supposedly the wait times have dropped considerably but can still take several days.
I find it scary that it could take several days or even weeks to correct something as simple yet extremely painful as kidney stones.

I had sudden terrific abdominal pain, went to ER, went directly to CT scan within the hour, this is in the USA. I've heard that Canada has long waiting times, like you say, and people don't mention about that when they compare the USA system to the Canadian system. Yeah, it was kidney stones and they did not know that for sure until the CT scan. I don't want the waiting times that you experienced in Canada. Kidney stones are too painful to delay treatment. If immediate treatment means a copay, versus free socialized medicine but with a long delay, it was worth it to treat the excruciating pain asap.

#241 1 year ago
Quoted from Honch:

Its because people are brainwashed into voting against their own self interest. If you're for single payer health care , (which I am) you get labeled a Socialist, which is a dirty word around these parts. No, instead we'll spend our money on other things like for instance, fighter jets we don't need. Nothing in our political system is ever done for the greater good anymore. It's all about greed and power.

Well somebody's paying for it as in higher taxes. Socialism IS a dirty word. Do you really want the govt. taking care of you?

#242 1 year ago
Quoted from poppapin:

. Do you really want the govt. taking care of you?

Yes, and I think most people do do some extent.

#243 1 year ago

Can someone who has gone through it in NJ help me figure out Medicare parts B-C-D, MediGap, etc??
Thanks! ----BoneHead Ted

#244 1 year ago

People are never happy whichever way they have it. The grass is always greener.

#245 1 year ago
Quoted from TheLaw:

Yes, and I think most people do do some extent.

I agree to some extent, but not a nanny state (socialism).

#246 1 year ago

The answer from friends and family that are doctors
is to increase the residency
Program. Its been stuck for a long time.
Increasing supply, reduces cost. Instead of clogging er,
People could see a healthcare professional at Walmart, and even house calls could return.

#247 1 year ago
Quoted from poppapin:

I agree to some extent, but not a nanny state (socialism).

If you’re ok with social security and Medicare you’re already a socialist. Sorry, your great-grandparents sold you out to FDR.

#248 1 year ago
Quoted from jwilson:

The fact you guys have to consider that makes me wonder why you put up with that instead of screaming for single payer socialized medicine.

Basically boils down to the fact that we aren’t so bright.

#249 1 year ago
Quoted from G-P-E:

With kidney stones in US - I got straight in to doc, had CT scan and then Lithotripsy. Finished in &lt; 24 hrs (the wonderful 'prep' for Lithotripsy procedure took longest).
At the time of the first occurrence - Canada wait time was more than 4wks for just the CT Scan (kidney stones was not considered an emergency!?), Lithotripsy was considered to be an "elective" and was several weeks longer. Supposedly the wait times have dropped considerably but can still take several days.
I find it scary that it could take several days or even weeks to correct something as simple yet extremely painful as kidney stones.

Quoted from I_P_D_B:

I had sudden terrific abdominal pain, went to ER, went directly to CT scan within the hour, this is in the USA. I've heard that Canada has long waiting times, like you say, and people don't mention about that when they compare the USA system to the Canadian system. Yeah, it was kidney stones and they did not know that for sure until the CT scan. I don't want the waiting times that you experienced in Canada. Kidney stones are too painful to delay treatment. If immediate treatment means a copay, versus free socialized medicine but with a long delay, it was worth it to treat the excruciating pain asap.

Actually, in Canada, you can get a CT scan done within a day or two if you would like. There are private clinics available in which you can book a CT scan or MRI or whatever you need. I know as I have done it. I didn't want to wait several weeks for a MRI so I paid the $700 bucks and got it done immediately.

https://www.radiology.ca/location/mayfair-place

QSS

#250 1 year ago

Well. it's Monday morning and I'm back at work anyway.

What do I find waiting for me? My weekly paycheck sitting there with two chili cheese fritos that I might have dropped last week on it. And the check is all greased up now.

Now, I have spent six years taking out the trash and helping keep this place clean while dancing around piles of junk that is being stored here, so maybe that in itself is a sign. Either that or the boss has been following this thread.

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