I would stay another year. I had mandatory retirement from LE at age 55 (state law). My pension was 88%. I kept our really great health care. I was allowed to work part time for a couple other LE agencies. The money from the part time gigs , over the past 9 years, was stashed in a hunting & fishing account for my wife and I. We are pretty well set for the foreseeable future regarding our outdoor interests. I work other part time stuff also : maple sugar operations, pesticide spraying, lead hiking tours for a high end resort, etc.
Mid 50's retirees question
- Thread starter bradr
- Start date
I love the part where you said more flexible, less stressful!
Wow, 88% is amazing. Ours maxes out at 82%
I don't understand the getting out as soon as you can and then get another part time job. What's the point of retiring just to go get another job?
D4570
Well-known member
In my case I make more retired then when I was working...
brownbear932008
Well-known member
Hang it up brother let someone else deal with the stress and assholes. You answered your question above I feel like. It's not worth 300 bucks extra if your setting good financially. I've got 7 more and I'm out the day I'm eligible. But I ride a desk now so much easier.
For me, it's the nature of my job that makes me want to get out sooner than later. It's been a good career, just not into it anymore like I was early on. As far as the other job goes, it'll be a part time job 2-3 days per week. I really wouldn't need the money, but I can't hunt fish 7 days a week. I sometimes go stir crazy if I don't have something to do for a full day. Everybody's wired differently I guess. I currently drive a fedex route 1 day per week to fund my hunts & gear. The boss says he'll have no problem bumping me up to 2-3 days a week when the time comes. This is also a job that I really enjoy: I very seldom have to interact with people, I'm alone most of the day, and don't have the stress of my LE job. I call it my sanity job when people ask me why I do it. And like I mentioned earlier, it'll allow us to continue maxing out our IRA until my wife fully retires.I don't understand the getting out as soon as you can and then get another part time job. What's the point of retiring just to go get another job?
elkduds
Well-known member
Like other posters, I wonder what risks to your life and health another year on the job exposes you to. You'll likely wind up doing some employment that is interesting and enjoyable during part of retirement, so the income loss after taxes by getting out now seems like a small consideration next to health and wellbeing.
For me, I can walk in 6 months at 58.
It's a struggle between this job is stressful, it's beating the BP meds and I don't enjoy it
Vs
What will I do with the time
I know people who retired and struggled with boredom and I know people who stayed longer than. Needed and when they retires they couldn't figure out why they waited so long
It's a struggle between this job is stressful, it's beating the BP meds and I don't enjoy it
Vs
What will I do with the time
I know people who retired and struggled with boredom and I know people who stayed longer than. Needed and when they retires they couldn't figure out why they waited so long
shrapnel
Well-known member
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- Messages
- 2,632
The real value is missed by many as they say to just retire and get out. $300.00/month may not sound like much, but it is better than not getting it. You also stated that you were going to work part time while your wife continued to work full time, why not spend one more year with something you already know and have probably perfected.
You also should realize, you are not talking about $300.00/month when you are working in the same job you already have, it is a full salaried job and another year with that salary will gain you more than the part time lawnmowing career. The long and short of it is simply, stay at your job for another year, You won't notice the difference between 8 or 9 years, but the year salary and an additional $300.00 after that, you will be glad you did.
You also should realize, you are not talking about $300.00/month when you are working in the same job you already have, it is a full salaried job and another year with that salary will gain you more than the part time lawnmowing career. The long and short of it is simply, stay at your job for another year, You won't notice the difference between 8 or 9 years, but the year salary and an additional $300.00 after that, you will be glad you did.
Addicting
Well-known member
I walked into a trucking company and told them I didn’t want to be on the full time schedule. However, I was willing to be a “on call” driver if he ran into a jam.
I committed to work enough to at a minimum cover the cost of the additional truck. Some weeks I drive every day and some weeks I only do one. I will make close to 20k this year which will more than offset what we lost in income.
I tell him when I’m going hunting or have kid commitments.
Flexibility is the key to this working relationship.
On the flip side I drove Sunday morning for a load that took most of the day. It wasn’t the best but I didn’t have plans. Saved him a lot of money in cancellation fee’s and paying a full timer extra for weekend duty.
Best part is being in charge of your own schedule and having a employer who is cool with it.
David658
Well-known member
I will have to work until 20 days after my full retirement date, in order to have access to health care (50% of my medicare and supplement paid for). I can go as soon as 65 (Medicare), but the health insurance piece is substantial. My job assignment today more or less stinks, but I am making enough that I can supplement my small amount of paid vacation with LWOP pretty much with impunity, and my on-call pay pretty much covers that loss. But if I felt like I could retire tomorrow, I would - QTL, or "Quality Time Left". I don't ascribe a lot of QT to work these days. From the sounds of things, I don't know that I would work one more year just for $300 a month. But then I will be working an extra 18 months (past 65) for about $500-700 a month, so not that much different (of course, those 18 months will represent an increase in my SS of about 12%).
But I would not work one.more.second than I have to - life is short, too short.
But I would not work one.more.second than I have to - life is short, too short.
That a great point that I haven’t yet thought of. Thank you
Dan O
Well-known member
When I got ready to retire I did the math, I was working for 14% of my check each month. For that 14% I got to work full time enjoy the pleasures of stress from the job as a LEO. I retired on my 50th birthday with 28 years in. So for me I could have stayed longer and for each added year I would have received 2.5% additional to my retirement. At some point you have to decide is it worth it. Your the only one that can decide that.
I remember a good friend was a LEO in the PD. He was a bean counter when it came to money and he was able to retire but he said I want to stay 3 more years just to have that extra. This was in 1997, he died of cancer in 1998. He never got to enjoy his retirement. So what I'm saying there is more to life than a job learn to enjoy life.
Good luck!!!!
Dan
I remember a good friend was a LEO in the PD. He was a bean counter when it came to money and he was able to retire but he said I want to stay 3 more years just to have that extra. This was in 1997, he died of cancer in 1998. He never got to enjoy his retirement. So what I'm saying there is more to life than a job learn to enjoy life.
Good luck!!!!
Dan
An absolutely fabulous LEO I knew was similar life experience post retirement. Worked longer than he had to, took another job to continue 40 hrs+ a week and was gone to cancer within just a couple years. I know he wished he retired earlier and spent more time with his family and less with work
peterk1234
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- Oct 9, 2019
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- 666
I retired this year, age 54. I left a lot of money behind. Best decision ever. Money didn't matter as long as there is enough to get by and do the things you like. Time, well that one you will not have enough of. Heck, you could drop dead tomorrow. You are in your fifties. Your years are numbered.
WesternRookie
Active member
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- Apr 8, 2019
- Messages
- 180
$300 MIGHT pay for a nice steak dinner for two in 20 yrs......I would walk now and add a year of hunting memories to your life instead of a year of work
Hem
Well-known member
"Joe" has absolutely nothing to do with the cost of fuel.
D4570
Well-known member
The fuel I could absorb if every trip to Walmart was not $150...
AND HE is responsible for that, print more money baby.
TimeOnTarget
Well-known member
As someone a ways off retirement (unfortunately) I'm very much enjoying all the opinions in this one.
