I retired at 51!

[IVE GOTTA PACKAGE 4U]

We’ll I’m not drawing from mine for at least another few years and I’m 57. I’m thinking 62 when I start SS. Owe less than 10K on the house and only have the wife’s 4Runner to pay off in less than a year.

I'm not touching mine until I'm 59 and a half
Then I'm looking for a 2% withdrawal for a couple years until it hit social security

 

[PASinterference]

Must've bought a time machine too considering they haven't made the Commander since the beginning of the last decade.

 

[sailfish]

My present to myself once I hit max rate was a pre-order for Belfast: Iridescent Rosa ver. from Azur Lane by Alter.

 

[oldngray]

I'm not touching mine until I'm 59 and a half
Then I'm looking for a 2% withdrawal for a couple years until it hit social security

I rolled over my 401k into an IRA but haven't touched any of the money yet. I plan to wait until I need the money or have to start making withdrawals.

 

[IVE GOTTA PACKAGE 4U]

I rolled over my 401k into an IRA but haven't touched any of the money yet. I plan to wait until I need the money or have to start making withdrawals.

I really don't want to draw from it but I figured 2% for a couple years wouldn't be too bad

But if you have any broth money in your 401k you are better off moving it to an IRA

 

[oldngray]

I really don't want to draw from it but I figured 2% for a couple years wouldn't be too bad

But if you have any broth money in your 401k you are better off moving it to an IRA

the 401k loses its advantages after you leave UPS. IRA is better then.

 

[IVE GOTTA PACKAGE 4U]

the 401k loses its advantages after you leave UPS. IRA is better then.

Especially if you have Roth money in your 401k. You can be forced to take a roth distribution

 

[sailfish]

View attachment 399461

Foreign market rebadge.

 

[Over70irregs]

View attachment 399461

Wow my last one a 2008 was totaled.

 

[2Down2Many2Go]

He told me the details of his new vehicle and he was pretty proud, at that point I really couldn’t say much because it’s really too late. If he went and returned the vehicle to the dealership it would be worth 20 or 30% less than what he paid for it already lol.

That's crazy....I bought a Chevy SS two years ago, and I can get 10 k over what I paid.

 

[2Down2Many2Go]

They’re part of the feeder department if they go shifter, but they work like 50-60 hours a week. Buddy of mine went shifting and he does easily 13 hours in a day, and another member told me that they need shifters. I wouldn’t mind because it’ll help when I eventually go feeder, but those hours are heavy. They need to make people full time, add language that if they work people for a certain amount of time they get bumped to full time along with the wages. They’re getting screwed over with the pension.

At my building if they're shifting...they're 22.3 or non CDL, So they shift in the yard when yard control needs them.

 

[olroadbeech]

I won't start taking withdrawals from 401k and Ira's until I'm 72. another 6 years.

Even the minimum distribution will put us in a high tax bracket unfortunately.
Even now we live solely on the Teamster pension and all the social security is all gravy.

Have no idea what we are gonna do with all that extra retirement funds money.

congrats on retiring at 51. you're gonna love it if you prepared for it.

 

[Commercial Inside Release]

Don't tow under the table, though. That's got legal and lawsuit trouble written all over it.

 

[Over70irregs]

Don't tow under the table, though. That's got legal and lawsuit trouble written all over it.

Man. Had me looking into it for future endeavor.

 

[Commercial Inside Release]

Had me looking into it for future endeavor.

LoL! Would be like bouncing for some club under the table. Company will act like they've never heard of you, when you get served your subpoena by some military (not so) toughy that gets free legal.

 

[Babagounj]

We’ll I’m not drawing from mine for at least another few years and I’m 57. I’m thinking 62 when I start SS. Owe less than 10K on the house and only have the wife’s 4Runner to pay off in less than a year.

Bad idea to take SS at 62.
You lose 1/3 of your amount if you waited until FRA. { Full Retirement Age }
Once taken out your amount is fixed for life. { Only option to increase it is to repay all funds back to SS within one year after starting to collect }
I'm waiting until I hit 70 to collect. { I'll be getting around $900+ extra a month, over FRA }
I'm getting by from just the pension and taking out around $20,000/year from the 401K to have some extra spending money for the year.

If you are someone who follows the breakeven charts { taking at 62 vs waiting to age 70 } then you are very mistaken.
SS isn't an investment, it's insurance that you will be receiving, no matter what.
And it would be wise to treat it as such.

 

[olroadbeech]

Bad idea to take SS at 62.
You lose 1/3 of your amount if you waited until FRA. { Full Retirement Age }
Once taken out your amount is fixed for life. { Only option to increase it is to repay all funds back to SS within one year after starting to collect }
I'm waiting until I hit 70 to collect. { I'll be getting around $900+ extra a month, over FRA }
I'm getting by from just the pension and taking out around $20,000/year from the 401K to have some extra spending money for the year.

If you are someone who follows the breakeven charts { taking at 62 vs waiting to age 70 } then you are very mistaken.
SS isn't an investment, it's insurance that you will be receiving, no matter what.
And it would be wise to treat it as such.

it only makes sense to wait until FRA if you live well past 80.

not going to explain it again.

 

[Babagounj]

I won't start taking withdrawals from 401k and Ira's until I'm 72. another 6 years.

Even the minimum distribution will put us in a high tax bracket unfortunately.
Even now we live solely on the Teamster pension and all the social security is all gravy.

Have no idea what we are gonna do with all that extra retirement funds money.

congrats on retiring at 51. you're gonna love it if you prepared for it.

Donating the extra cash is a good way to decrease your yearly tax bill.

 

[burrheadd]

I'm waiting until I hit 70 to collect. { I'll be getting around $900+ extra a month, over FRA

What if you die before 70 you get nothing

 

[Babagounj]

it only makes sense to wait until FRA if you live well past 80.

not going to explain it again.

$900+/ month sounds like a good reason.
Medical costs are not going down.
And I'll be able to pay for my own lavish funeral.