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Forums59
Topics1,057,219
Posts14,281,387
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Most Online39,925
Dec 30th, 2023
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 Re: Retirement
[Re: TR176]
#13459357
03/04/20 12:48 AM
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Joined: May 2002
Posts: 95,908
Bob Davis
Bunkeroid Bob
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Bunkeroid Bob
Joined: May 2002
Posts: 95,908 |
I reached 66 on 12/30/47, retired two days later on 1/1/14. Two reasons, I hit max on SS benefits, and the buyout of PTO took place in the first year of reduced income. My employer had a fairly decent monthly pension which I cashed out and rolled into a self directed 401K. I am a little surprised folks take SS while still working due to the horrendous tax on the SS benefits based on earned income. Holy $*&!@# !!! You are 139 Years old!!
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Re: Retirement
[Re: Bob Davis]
#13459401
03/04/20 01:35 AM
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Joined: Jul 2010
Posts: 9,893
TR176
TFF Celebrity
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TFF Celebrity
Joined: Jul 2010
Posts: 9,893 |
I reached 66 on 12/30/47, retired two days later on 1/1/14. Two reasons, I hit max on SS benefits, and the buyout of PTO took place in the first year of reduced income. My employer had a fairly decent monthly pension which I cashed out and rolled into a self directed 401K. I am a little surprised folks take SS while still working due to the horrendous tax on the SS benefits based on earned income. Holy $*&!@# !!! You are 139 Years old!! Dang confused myself.
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Re: Retirement
[Re: Bandit 200 XP]
#13459434
03/04/20 02:13 AM
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Joined: Oct 2004
Posts: 38,822
KingwoodCat
TFF Guru
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TFF Guru
Joined: Oct 2004
Posts: 38,822 |
"Any man who thinks he can be happy and prosperous by letting the government take care of him had better take a look at the American Indian".
Henry Ford
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Re: Retirement
[Re: Bandit 200 XP]
#13459469
03/04/20 02:47 AM
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Joined: Dec 2011
Posts: 9,854
Oldrabbit
TFF Celebrity
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TFF Celebrity
Joined: Dec 2011
Posts: 9,854 |
Retired at 53 but went to work again 2 days later (maximum $ on Lump Sum Payout after 33-1/2 years). Worked the second job for 9 years and retired for good at 62. Let the lump sum and 401K grow while I built up another 401K with the new job. Enjoying hunting and fishing mid week and seeing the granddaughters anytime we want to.
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Re: Retirement
[Re: Bandit 200 XP]
#13459484
03/04/20 03:03 AM
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Joined: Jun 2012
Posts: 21,749
Douglas J
TFF Guru
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TFF Guru
Joined: Jun 2012
Posts: 21,749 |
Any day now! I could retire now, but will likely work a couple more years and I will be 53 then
![[Linked Image]](https://texasfishingforum.com/forums/pics/userpics/2024/11/full-72311-248284-f6b1190b_bbab_49d4_a1b2_6e9a1ce426f7.jpeg) #MFGA
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Re: Retirement
[Re: Bandit 200 XP]
#13459605
03/04/20 07:38 AM
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Joined: Feb 2015
Posts: 4,740
Flippin-Out
TFF Team Angler
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TFF Team Angler
Joined: Feb 2015
Posts: 4,740 |
I did it at 58. I liked the work, so it was a bit weird at first, but I adjusted! ![[Linked Image]](https://texasfishingforum.com/forums/pics/userpics/2020/03/full-94991-42121-lazyass.jpg)
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Re: Retirement
[Re: Bandit 200 XP]
#13459643
03/04/20 12:18 PM
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Joined: Dec 2007
Posts: 17,518
bloo_rainger
TFF Guru
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TFF Guru
Joined: Dec 2007
Posts: 17,518 |
Lots of wealthy people hanging out here....
ALL HAIL TRUMP
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Re: Retirement
[Re: Bandit 200 XP]
#13459649
03/04/20 12:27 PM
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Joined: May 2004
Posts: 14,125
Tiltman
TFF Guru
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TFF Guru
Joined: May 2004
Posts: 14,125 |
60 is the plan, 7 years to go
Somewhere w low property taxes
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Re: Retirement
[Re: Bandit 200 XP]
#13459655
03/04/20 12:36 PM
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Joined: Jul 2017
Posts: 527
Patrnflyr
Pro Angler
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Pro Angler
Joined: Jul 2017
Posts: 527 |
When I was 30, we planned on my retirement at 52 with my CFP. At 45, I moved it up to age 60. Both were achievable after saving for 30 years. By age 58, it turned out to be 62 and I retired 12 weeks ago as planned. Haven’t looked back since. The only thing is I seem to be busier now than I was when working.
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Re: Retirement
[Re: Bandit 200 XP]
#13459656
03/04/20 12:37 PM
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Joined: Jan 2005
Posts: 124,588
TexDawg
Top Dawg
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Top Dawg
Joined: Jan 2005
Posts: 124,588 |
I’m always amazed at the folks in these threads that retire in their 50s. I have no idea how, of course everyone is in a different place financially and personally.
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Re: Retirement
[Re: Bandit 200 XP]
#13459679
03/04/20 01:04 PM
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Joined: Sep 2006
Posts: 10,753
Spiderman
TFF Guru
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TFF Guru
Joined: Sep 2006
Posts: 10,753 |
Retired at 50, company I worked for was bought out and got a good package. It's been 14 years and have enjoyed the freedom immensely. I work part time as a Catastrophe adjuster to remind me how demanding work can be,
Crappie fished yesterday and kept 19. Life is Good!
The Truth is six of the seven Dwarfs are not Happy!
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Re: Retirement
[Re: Bandit 200 XP]
#13460080
03/04/20 05:18 PM
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Joined: Jan 2008
Posts: 638
bullwinkle
Pro Angler
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Pro Angler
Joined: Jan 2008
Posts: 638 |
Retired eight years ago at 57, after 34 years 9 months with a family owned company. They sold out to corporate America a year before I retired and here came the changes. Decided to leave on my terms, not the new owners' terms....
Steve Amburn
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Re: Retirement
[Re: Bandit 200 XP]
#13460100
03/04/20 05:34 PM
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Joined: Jun 2010
Posts: 1,274
Slow Drifter
Extreme Angler
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Extreme Angler
Joined: Jun 2010
Posts: 1,274 |
I'll retire in 2026 at 58-1/2 with 40 years federal service. (I bought back my 6 Marine years). Federal retirement isn't as good as it used to be. You have to invest a decent chunk of every paycheck to maximize agency matching funds in our version of a 401k. I'm on track to have house and land paid off 2 years before I retire, so retiring without those payments will help a lot.
SD ![[Linked Image]](http://i720.photobucket.com/albums/ww201/09231967/IMG_0394-1.jpg)
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