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Author: Subject: When not to retire to Baja?
TMW
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[*] posted on 3-16-2017 at 12:49 PM


Quote: Originally posted by soulpatch  
Jajaja, it's been an interesting ride!

I am still wanting to know what percentage of a full time salary a full pension is.... what does that really mean?


That depends on who you are working for. Is it a public or private sector job. Public sector jobs have the best pensions, military, police, firefighters, city, county, state and federal. Police and firefighters usually get 2% per year for each year they work. The 2% is usually based on the last 3-5 years they work with overtime often included. They also often include an annual COL increase. For example, in Bakersfield a cop and firefighter can retire after 30 years with 60% of his salary based on the last 3 years he worked which includes overtime. Some places offer a 401K type system like the school system.

Private sector jobs use to be the best (usually union related) and some are still good but the difference is they usually don't include an annual cost of Living increase. What you get when you retire stays the same. 401K systems have pretty much replaced the normal pension in the private sector. This can be a good way to retire especially if there are matching funds from the employer. But you have to use it to make it work.

I was probably lucky to work for a couple of companies that had both a pension and a 401K plan. My biggest change when I retired was the increased medical and drug cost over what my employer offered. My medical insurance with McGraw-Hill was $115/month to cover both my wife and I. When I retired Medicare and our insurance was about $700/mo. Basically it was the same coverage.
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rhintransit
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[*] posted on 3-16-2017 at 01:11 PM


Sorry you can't make retirement work yet, but better too know that now before you're committed. Someday....



reality\'s never been of much use out here...
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[*] posted on 3-16-2017 at 01:11 PM


Thanks all.
Full pension just means no early retirement penalty.
The company offered VLO 2 years in a row now so I might get another chance next year or maybe even get a regular layoff.
So that's one reason I decided to wait.
I applaud anyone who had the courage escape the rat race by retiring early. And if you saved money for it then your just smarter than me that's all.
The "take this job..." part was just a metaphor. I am truely grateful to the company. I've lived a very good life thanks to them.
My thoughts are that I can tolerate a few more years. 401k at 59 and Social Security at 62. So 4 more years of clearing my debts and squirreling every penny should do it.
So for now I will take trips down and patrol my dirt patch and dream a bit. Maybe May is my next fix.




"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.

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soulpatch
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[*] posted on 3-16-2017 at 02:47 PM


Cool. Gotta do what ya' gotta do!
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sancho
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[*] posted on 3-17-2017 at 01:57 PM


Quote: Originally posted by motoged  

the beer component remains the same....











What is that, 1 caguama/ballena for initial, then 1 for any
partial hr. incremant thereafter?
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pauldavidmena
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[*] posted on 3-17-2017 at 03:09 PM


Part of the goal of retirement is to put the worries of life as a worker bee in the rear-view mirror. If you're only going to replace those worries with how you're going to make ends meet after the paychecks stop coming, then I have to agree that the time may not be right for you.

I'm 57 1/2 and am targeting 60 as a retirement age. Whether I make it that long - or go beyond that by another year or two - depends less upon whether or not I've stashed enough away than how long the New England IT job market is willing to keep me around for my experience and "tribal knowledge".

Another factor for me personally is "career fatigue", the angst I feel when the alarm goes off, beckoning all of the drones to the proverbial salt mine. When I combine that with a couple of recent health scares, I start thinking about how I can make retirement happen sooner rather than later.

At the end of the day, no one can make that decision except you. Enjoy the process! :cool:




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fishbuck
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[*] posted on 3-17-2017 at 07:32 PM


I'm right there with you on this. I don't want to retire only to find I need to keep working as a walmart greeter or something. It happens...

Quote: Originally posted by pauldavidmena  
Part of the goal of retirement is to put the worries of life as a worker bee in the rear-view mirror. If you're only going to replace those worries with how you're going to make ends meet after the paychecks stop coming, then I have to agree that the time may not be right for you.

I'm 57 1/2 and am targeting 60 as a retirement age. Whether I make it that long - or go beyond that by another year or two - depends less upon whether or not I've stashed enough away than how long the New England IT job market is willing to keep me around for my experience and "tribal knowledge".

Another factor for me personally is "career fatigue", the angst I feel when the alarm goes off, beckoning all of the drones to the proverbial salt mine. When I combine that with a couple of recent health scares, I start thinking about how I can make retirement happen sooner rather than later.

At the end of the day, no one can make that decision except you. Enjoy the process! :cool:




"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.

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bajagrouper
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[*] posted on 3-17-2017 at 08:27 PM


LOL, jajajajaja, that's funny, a walmart greeter, heck a bag boy / girl would make more than a greeter.........



I hear the whales song
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Paco Facullo
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[*] posted on 3-18-2017 at 06:55 PM


Heck , where's the dollar going to be in four years.?

Where's your health going to be ?
Where's your pension going to be ?
Where's the US economy going to be ?
Etc, etc, etc.

One thing FOR SURE is you will have lost four great years of retirement.

I retired four + years ago and it is the best thing I ever did !
Funny thing is that my expenses are less than I figured they would be.

Money can never replace time.
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[*] posted on 3-18-2017 at 06:59 PM


Although one major caveat is you need to have NO DEBT. ...

[Edited on 3-19-2017 by Paco Facullo]
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pauldavidmena
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[*] posted on 3-19-2017 at 01:07 PM


Quote: Originally posted by Paco Facullo  
Heck , where's the dollar going to be in four years.?

Where's your health going to be ?
Where's your pension going to be ?
Where's the US economy going to be ?
Etc, etc, etc.

One thing FOR SURE is you will have lost four great years of retirement.

I retired four + years ago and it is the best thing I ever did !
Funny thing is that my expenses are less than I figured they would be.

Money can never replace time.


Last weekend a co-worker of mine lost his wife at age 38. When ever I hear news like that I seriously evaluate the money versus time trade-offs.




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[*] posted on 3-20-2017 at 02:54 PM


I second Pauldavid... (too long name0 and Paco. Go for it.
There is a certain anxiety to it. But t5hat happens either way. Retired at 54 in 2001 and had some ups and downs. But things balance out, really.
Look for the retirement advice in
https://www.amazon.com/Living-Retiring-Mexico-need-before-eb...




The grass is always greener....
and so, there is always a better spot in Baja
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pauldavidmena
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[*] posted on 3-20-2017 at 03:16 PM


Quote: Originally posted by Leo  
I second Pauldavid... (too long name0 and Paco. Go for it.
There is a certain anxiety to it. But t5hat happens either way. Retired at 54 in 2001 and had some ups and downs. But things balance out, really.
Look for the retirement advice in
https://www.amazon.com/Living-Retiring-Mexico-need-before-eb...


I meant to buy this book from the Tecolote book store when I was in Todos Santos two months ago. I'll just have to get it from Amazon instead. :cool:




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[*] posted on 3-20-2017 at 03:25 PM


Choose a career doing something you enjoy so you dont waste your working life "waiting" for retirement.
Sounds like many think they are in virtual prison waiting for release to retirement before they can start enjoying life.
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[*] posted on 3-20-2017 at 03:46 PM


"quiet desperation"



Aint much that cant be fixed with a little cash and a COLT 1911..
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[*] posted on 3-20-2017 at 05:17 PM


The statistics for people liking there jobs are about 90% DO NOT . Hence the looking forward to " something better ".........

Just remember folks , less is more.


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[*] posted on 3-20-2017 at 07:30 PM


If they weren't paying me so much I would step foot in this building. And I do enjoy my work.
I was reading the paper and there was an obit from a co-worker I didn't know.
Same age, 58, same job code, aircraft inspector, about same service time, 30 years. Retired and died.
So I certainly understand that part.
4 years is sort of my max that I think I can stay.
But if I hit loto...:light:


[Edited on 3-21-2017 by fishbuck]




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[*] posted on 3-20-2017 at 07:56 PM


I had a rod buster tell me the average lifespan of a retired iron worker AFTER he retired was about two years. I'm about 15 years from that decision. Cmon lotto!



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[*] posted on 3-25-2017 at 12:53 AM


Quote: Originally posted by mtgoat666  
Choose a career doing something you enjoy so you dont waste your working life "waiting" for retirement.
Sounds like many think they are in virtual prison waiting for release to retirement before they can start enjoying life.


Yes, that's a nice idea. Not usually an option for most people. Instead, we settle for what pays the bills and keeps the kids with food in their mouths and a roof over their heads. And then we live for retirement.
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[*] posted on 3-25-2017 at 08:14 AM


I had the same 2.7kW system installed in Ensenada, plus a backup generator, an auto-transfer switch and a whole house surge suppressor installed for $4,700 USD.

I know that a septic tank is about $800.00 USD.


Quote: Originally posted by woody with a view  
Are you saying you havent saved 20k yet? I just had 2.7kW system installed in SD for $8k. A toilet for an additional $12k would make momma happy, but C'MON, Mang, you can't tell me you need that much money for those items.




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