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J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
Member Is Offline
Mood: Easy Does It
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| Quote: | Originally posted by CortezBlue
| Quote: | Originally posted by absinvestor
My vote is for you to retire early Monday morning!! You can afford it- hopefully you'll have many healthy years to do whatever is fun for you.
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That's the damn answer I've been looking for, besides, I can always go back to work!! |
I retired 12 years ago, If I was Holding the cards you have I would have ben gone long ago.
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desertcpl
Super Nomad
Posts: 2400
Registered: 10-26-2008
Location: yuma,az
Member Is Offline
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Cortez
I don't know what your waiting for, if your fixed up like that
Some good stuff.
My wife was 54 when she took her retirement and it is a good thing she did.
She is an educator and retired at the top of the Superintendent heep in her district, how ever, the district had a phased retirement program that
allowed her to retire but retain her position. However, she took a 25% cut in pay and did not receive any benefits. So it is like doing her job for
about 1/2 of what she was making.
However, the year after she retired they changed the medical spiff that she received per year. Granted it is about $3600 per year toward our future
insurance expenses. So she is grandfathered in on that plus they have raised the annual percentages that she still has to pay, but get's no benefit
from.
As far as the SS side of things, I don't think it will affect me due to the fact, according to SS, you must have 35 years of paying into SS. Also, I
have been an highly compensated individual and paid the max SS for the past 15 years. I have played with the numbers and even if I quite today, it
doesn't make much difference to my 62 or 66.5 retirement picture.
I also will have small pension that I can take today, but will probably wait til 60 when it will be about $1100 per month or 65 when it hits $ 1500.
We will not be moving to Mexico permanently, although, we are, as of this year, Permanente status. Our goal is to chase the sun in the winter and run
away from it in the summer.
We use to own a beach front condo in Oceanside that we sold in 2005, but we still have many friends who own condos in the same place. So chances are
we would hang in San Diego Cty during Aug and or Sept. Or go to Boise where we have other friends that have a cabin that we could rent for a month or
two.
I haven't mentioned my wife's pension is nearly $90K per year gross. So she get's about 6K per month clear. And except for a small mortgage on our US
house, we don't have any expenses.
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
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retire...
the bad news is... you are dieing
56 give you 15 years of good life and 5 or 6 of "old age"
if you can go now..."go dog go"
have fun and spend it all
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
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Do some research
| Quote: | Originally posted by desertcpl
As far as the SS side of things, I don't think it will affect me due to the fact, according to SS, you must have 35 years of paying into SS. Also, I
have been an highly compensated individual and paid the max SS for the past 15 years. I have played with the numbers and even if I quite today, it
doesn't make much difference to my 62 or 66.5 retirement picture.
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I would do some research or call SS. That doesn't sound right.
You should be getting a SS statement of benefits just before your birthday every year that tells you if you qualify for Medicare (need 40 quarters
paying into the system), and what your SS monthly benefits will be if you take an early option at 62 (do it if you need it) or at 65/67, whatever your
qualifying year is.
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J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
Member Is Offline
Mood: Easy Does It
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| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by desertcpl
As far as the SS side of things, I don't think it will affect me due to the fact, according to SS, you must have 35 years of paying into SS. Also, I
have been an highly compensated individual and paid the max SS for the past 15 years. I have played with the numbers and even if I quite today, it
doesn't make much difference to my 62 or 66.5 retirement picture.
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I would do some research or call SS. That doesn't sound right.
You should be getting a SS statement of benefits just before your birthday every year that tells you if you qualify for Medicare (need 40 quarters
paying into the system), and what your SS monthly benefits will be if you take an early option at 62 (do it if you need it) or at 65/67, whatever your
qualifying year is. |
You can retire at 62 at a reduced rate. No medicare untill 65
[Edited on 4-28-2013 by J.P.]
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Terry28
Senior Nomad
Posts: 825
Registered: 8-25-2007
Location: S.Calif mtns.
Member Is Offline
Mood: Thirsty
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The problem with being retired is that you never get a day off!!!
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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| Quote: | Originally posted by Terry28
The problem with being retired is that you never get a day off!!! |
and you never have to get up early if you don't wanna!
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acadist
Super Nomad
Posts: 1125
Registered: 3-31-2007
Location: Spanaway,WA
Member Is Offline
Mood: Waiting for the Sun
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Just turning 50 with my youngest turning 9 yesterday I figure I have at least 10 more years of the rat race.........that is why I buy a powerball
ticket every now or then
Dave
I moved to CO and they made me buy a little rod to make it feel like a real fish
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lizard lips
Super Nomad
Posts: 1468
Registered: 8-30-2002
Location: EARTH
Member Is Offline
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I am 58 and have lived in Ensenada for 25 years so actually I already feel like I'm retired. My son still has four more years of medical school so I
really need to work for at least another 20 years so it looks like 78 for me. If I make it!!!
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CortezBlue
Super Nomad
Posts: 2213
Registered: 11-14-2006
Location: Fenix/San Phelipe
Member Is Offline
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| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by desertcpl
As far as the SS side of things, I don't think it will affect me due to the fact, according to SS, you must have 35 years of paying into SS. Also, I
have been an highly compensated individual and paid the max SS for the past 15 years. I have played with the numbers and even if I quite today, it
doesn't make much difference to my 62 or 66.5 retirement picture.
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I do get a statement, however, there is an actual calculator on line that allows you to plug in dates and it will give you an estimate for the dates
you want to retire.
It didn't make hardly any difference.
I would do some research or call SS. That doesn't sound right.
You should be getting a SS statement of benefits just before your birthday every year that tells you if you qualify for Medicare (need 40 quarters
paying into the system), and what your SS monthly benefits will be if you take an early option at 62 (do it if you need it) or at 65/67, whatever your
qualifying year is. |
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desertcpl
Super Nomad
Posts: 2400
Registered: 10-26-2008
Location: yuma,az
Member Is Offline
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Cortez
as been asked earlier about SS,, haven't you been receiving yearly statements from SS.. it would clearly state what and when you are eligible for both
SS and medicare
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mtgoat666
Select Nomad
Posts: 19363
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by desertcpl
Cortez
as been asked earlier about SS,, haven't you been receiving yearly statements from SS.. it would clearly state what and when you are eligible for both
SS and medicare |
...beware! The tea baggers want to slash those SS and Medicare benis! Could get taken away if an austerity nutjob like Paul Ryan gets his way! He
wants you to experience austerity!
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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| Quote: | Originally posted by desertcpl
Cortez
I don't know what your waiting for, if your fixed up like that
Some good stuff.
My wife was 54 when she took her retirement and it is a good thing she did.
She is an educator and retired at the top of the Superintendent heep in her district, how ever, the district had a phased retirement program that
allowed her to retire but retain her position. However, she took a 25% cut in pay and did not receive any benefits. So it is like doing her job for
about 1/2 of what she was making.
However, the year after she retired they changed the medical spiff that she received per year. Granted it is about $3600 per year toward our future
insurance expenses. So she is grandfathered in on that plus they have raised the annual percentages that she still has to pay, but get's no benefit
from.
As far as the SS side of things, I don't think it will affect me due to the fact, according to SS, you must have 35 years of paying into SS.
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voices.yahoo.com/what-requirements-receive-social-security-7249452.ht...
To be eligible for benefits, one must have accumulated at least 40 "credits." One receives a Social Security credit for certain increments of
employment income, currently set at $1,120, up to four credits per year. So if a person made at least $4,480 in 2010, that's four credits. One
could be eligible for Social Security retirement benefits, then, with just ten years of very part time employment.
How much one pays into the system over the course of one's working life is the main factor in what one's benefits will be, but on the narrower
question of whether a person is eligible to collect benefits at all, it's all the same whether one has 40 credits or 140 credits. Once a
person has reached 40 credits, they've fulfilled this requirement.
Bob Durrell
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nbacc
Senior Nomad
Posts: 770
Registered: 12-27-2008
Location: Northern California
Member Is Offline
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I say go go go if you can Nancy
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desertcpl
Super Nomad
Posts: 2400
Registered: 10-26-2008
Location: yuma,az
Member Is Offline
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| Quote: | Originally posted by mtgoat666
| Quote: | Originally posted by desertcpl
Cortez
as been asked earlier about SS,, haven't you been receiving yearly statements from SS.. it would clearly state what and when you are eligible for both
SS and medicare |
...beware! The tea baggers want to slash those SS and Medicare benis! Could get taken away if an austerity nutjob like Paul Ryan gets his way! He
wants you to experience austerity! |
well I agree with you on this, they want to end all SS and Medicare, but people our age are grandfathered in
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bajamedic
Nomad
Posts: 392
Registered: 12-5-2008
Location: Northern California
Member Is Offline
Mood: Just waitin for baja
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My neighbor repeatedly told me, the day you can retire, do it, don’t wait one day, just do it. Three years ago when my local government job ended, I
decided and fate allowed me to retire, it was one of my better decisions, I am now 56 years old. After caring for my wife that died of cancer in our
home and caring for my father until his death from cancer, I cashed out my State retirement and took the whole extended family to Hawaii in
celebration of my daughter kicking cancer in the butt. I cashed in my teaching retirement for other memory making events as I only have one life to
live. I live moderately on investments and do not regret not showing up for a jobs that seemed to get along without my expertise and time. I still
“work” keeping up with investments, keeping the grandkids, overseeing care for my elderly mother, etc. I think keeping my neighbors advice was a good
thing. JH
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
Member Is Offline
Mood: undecided
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Retire ASAP! Don't let all those sunny days go to waste while you're doing
_________ at work.
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bajamedic
Nomad
Posts: 392
Registered: 12-5-2008
Location: Northern California
Member Is Offline
Mood: Just waitin for baja
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I think Cypress said the same thing, just more eloquently. JH 
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rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
Member Is Offline
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just do it.
you can live on whatever you have, if you want to badly enough.
reality\'s never been of much use out here...
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pauldavidmena
Super Nomad
Posts: 1734
Registered: 5-23-2013
Location: Centerville, MA, USA
Member Is Offline
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This type of discussion is exactly why I registered for this forum! I am 53 and am targeting retirement at age 60. I work in the computer field in
the suburbs of Boston, a fairly high-stress job in a young man's world. I've been saving aggressively since becoming an empty nester a few years
back, so I'm hoping I can hold out for another 6 or 7 years.
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