Life only Pension?

[rod]

You are in the pre 2008 get screwed royally pension group

I was but now I guess we are good to go. Thankyou taxpayers for the bail out.

 

[Wally]

Thanks Rod, My wife and I have always been frugal. Last couple years we averaged $2600 a month spending and that was including everything. That was the average when I figured up the total we spent the previous years and divided by 12 months. We was putting the rest away or investing. That’s why I figured I could retire pretty easy but being so new to this retirement thing I still have a little concern going on in the back of my head.

Can't live too well in my state on that. Property taxes alone are almost 25 percent of that.

 

[oldngray]

Can't live too well in my state on that. Property taxes alone are almost 25 percent of that.

You need more crap in your yard to reduce the appraised value

 

[Darmark7]

If you have a pension and both you and the wife get on SS life is pretty good --As long as you have things paid off. If you are just trying to make it on a pension it could get TIGHT-- I wouldn't want to do that.

I will get SS. My wife didn’t work many years so hers will be around $500 a month when we get 67. it will be 9 yrs before I hope to tap into SS at 67 yrs old. I’m hoping to be able to live on just the pension till then. I have enough UPS stock that I could get $600 a month extra from dividends, if I needed extra anytime soon, and that should only grow because I’m reinvesting the dividends at this point. Hoping to not even having to touch 401k, IRA and some Vanguard investment accounts till I’m over 70. At least that’s the plan. Time will tell.

 

[Wally]

You need more crap in your yard to reduce the appraised value

Democrats run things. They need cash flow.

 

[Wally]

I will get SS. My wife didn’t work many years so hers will be around $500 a month when we get 67. it will be 9 yrs before I hope to tap into SS at 67 yrs old. I’m hoping to be able to live on just the pension till then. I have enough UPS stock that I could get $600 a month extra from dividends, if I needed extra anytime soon, and that should only grow because I’m reinvesting the dividends at this point. Hoping to not even having to touch 401k, IRA and some Vanguard investment accounts till I’m over 70. At least that’s the plan. Time will tell.

Future pvd driver. Biden was re-elected, gas is $8 a gallon.

 

[Darmark7]

Can't live too well in my state on that. Property taxes alone are almost 25 percent of that.

You need to sell that McMansion you live in

 

[Wally]

You need to sell that McMansion you live in

Lol, they pay $24k a year.

 

[rod]

I will get SS. My wife didn’t work many years so hers will be around $500 a month when we get 67. it will be 9 yrs before I hope to tap into SS at 67 yrs old. I’m hoping to be able to live on just the pension till then. I have enough UPS stock that I could get $600 a month extra from dividends, if I needed extra anytime soon, and that should only grow because I’m reinvesting the dividends at this point. Hoping to not even having to touch 401k, IRA and some Vanguard investment accounts till I’m over 70. At least that’s the plan. Time will tell.

Sounds good to me. I'm glad someone retired from that hell hole early like I did. I was 53. I don't regret early retirement at all.

 

[Darmark7]

Sounds good to me. I'm glad someone retired from that hell hole early like I did. I was 53. I don't regret early retirement at all.

53! Wow and I thought 57 was young. All my friends are so envious but since I was in my 20s I lived frugal and planned for this while they enjoyed “today” and all the toys of the day. To each their own but at this point I feel I made the right decision. I still wake up and think of what I will not have to face at UPS since I’m retired. I am so lucky I did 39+ yrs and I do not have any aches or pains. My last couple decades I did everything by the book and used all the safety methods. I would tell supervisors when they rode with me that my goal wasn’t anything but to retire in great health with no injuries. Time and stops was of no concern to me.

 

[BrownFlush]

Sounds like you got a good deal on life insurance then

It was 14 years ago and I was considered in excellent health.

 

[rod]

53! Wow and I thought 57 was young. All my friends are so envious but since I was in my 20s I lived frugal and planned for this while they enjoyed “today” and all the toys of the day. To each their own but at this point I feel I made the right decision. I still wake up and think of what I will not have to face at UPS since I’m retired. I am so lucky I did 39+ yrs and I do not have any aches or pains. My last couple decades I did everything by the book and used all the safety methods. I would tell supervisors when they rode with me that my goal wasn’t anything but to retire in great health with no injuries. Time and stops was of no concern to me.

Wow--39 years. You are a better man than me. I got my 30 in and retired the very day it was official. The day I told my wife I was officially going to retire she quit her job and retired before me (I think it was just to piss me off) She was only 49 so I told her if things weren't working out financially for us she would have to be the one to go back to work. She laughed at that one. So we had 2 pension checks to live on - Hers was about half of what I got. We had a GOOD nest egg saved up from our retirement portfolios and a couple real estate deals that went our way so I wasn't too worried about it.

 

[IVE GOTTA PACKAGE 4U]

It was 14 years ago and I was considered in excellent health.

How are you holding up now?

 

[BrownFlush]

I’m curious, you did a 20 yr term. You are 52 so your policy expires when you are 72. At 72 you could have quite a few years left (unless you know you are in bad health already and don’t think you will make it) My question is what do you plan on doing if you get to 72 and your policy has just expired. Thanks

Nothing.
If a person is 72 and does not have enough to bury them or their spouse and /or is not squared enough away for their spouse to pay the utilities and eat with SS when they die..... just plan on making a trip to human services in your state or county when it all goes down. Why worry about planning what to do. The time for planning is way passed being effective.

 

[BrownFlush]

I initially got a 20 yr/500k term for $106/month when I rolled out at 54, but dropped it after talking to an FA who basically said my wife would be just fine even without it.

Everybody's different with different issues and things always change.

How are you holding up now?

Doing good..thanks.

 

[IVE GOTTA PACKAGE 4U]

Everybody's different with different issues and things always change.

Doing good..thanks.

You can be my helper for Christmas if you need some extra cash

 

[BrownFlush]

I will get SS. My wife didn’t work many years so hers will be around $500 a month when we get 67. it will be 9 yrs before I hope to tap into SS at 67 yrs old. I’m hoping to be able to live on just the pension till then. I have enough UPS stock that I could get $600 a month extra from dividends, if I needed extra anytime soon, and that should only grow because I’m reinvesting the dividends at this point. Hoping to not even having to touch 401k, IRA and some Vanguard investment accounts till I’m over 70. At least that’s the plan. Time will tell.

So you've made the decision not to get SS at 62?

 

[BrownFlush]

You can be my helper for Christmas if you need some extra cash

Let me rephrase what I said... I'm doing good as long as no work is involved.

 

[Darmark7]

Wow--39 years. You are a better man than me. I got my 30 in and retired the very day it was official. The day I told my wife I was officially going to retire she quit her job and retired before me (I think it was just to piss me off) She was only 49 so I told her if things weren't working out financially for us she would have to be the one to go back to work. She laughed at that one. So we had 2 pension checks to live on - Hers was about half of what I got. We had a GOOD nest egg saved up from our retirement portfolios and a couple real estate deals that went our way so I wasn't too worried about it.

My wife for some reason didn‘t want to work after she was about 26 yrs old . No we both came to the agreement she could stay home to help raise a nephew that his mom was a piece of crap and just walked away. Sometimes I think how much more we could of saved if she would of worked all those years but I was glad she never had to deal with the corporate world. I joke with her and tell her if things get tight she‘s got the next 39 yrs.

 

[Darmark7]

So you've made the decision not to get SS at 62?

That’s the plan now. I’m hoping to not have to take it till earliest 67. There is $800 a month more for waiting the 5 yrs.