Online Retiring....

[IVE GOTTA PACKAGE 4U]

For the next year? Because I already used my 2020 vacations

Is it 156 reports from the beginning of the year or from my seniority date?

No one does that here. You can tell when people are leaving because they line up all of their weeks right before their exit date when we pick vacations the year before in Nov

Yes you get paid for next year's vacations because you earned them this year.

 

[Re-Raise]

Yes you get paid for next year's vacations because you earned them this year.

Sounds good to me

I’ll take that in large bills please

 

[IVE GOTTA PACKAGE 4U]

Sounds good to me

You definitely earned the time

 

[quad decade guy]

I make 100k working and will collect $3800 a month retired minus the $400 a month for insurance..not sure I understand your math.
Every extra year increases my monthly pension as well

Unlimited(monthly pension)?

 

[quad decade guy]

It also increases your social security and your 401k

SSI to a limit. Right? And that's "possibly increases your 401k". Right?

 

[IVE GOTTA PACKAGE 4U]

SSI to a limit. Right? And that's "possibly increases your 401k". Right?

SS takes your best 35 years of earnings When a calculate your number
And yes you do increase your 401k
But the wild card is you do not know how long you're going to live so you have to figure out the right balance for yourself.

 

[Re-Raise]

Unlimited(monthly pension)?

In 710 it goes up every year until at least 35 full-time. My part-time pension increases every year that I get closer to 65 before I start collecting it

 

[quad decade guy]

In 710 it goes up every year until at least 35 full-time. My part-time pension increases every year that I get closer to 65 before I start collecting it

Ok. So say you started at 18(PT) until 65, it keeps increasing unlimited till 65 and beyond?

 

[quad decade guy]

SS takes your best 35 years of earnings When a calculate your number
And yes you do increase your 401k
But the wild card is you do not know how long you're going to live so you have to figure out the right balance for yourself.

So your 401k can never go down?

 

[IVE GOTTA PACKAGE 4U]

So your 401k can never go down?

Sure can go down just. depends on how you have the money invested
If worry about it going down put it all in stable value fund you won't make a lot but you won't lose anything

 

[oldngray]

Sure can go down just. depends on how you have the money invested
If worry about it going down put it all in stable value fund you won't make a lot but you won't lose anything

You could put it in a money market fund that would make almost nothing but wouldn't lose anything either.

 

[IVE GOTTA PACKAGE 4U]

You could put it in a money market fund that would make almost nothing but wouldn't lose anything either.

Absolutely
I think the stable value fund is paying a little over 1%

 

[quad decade guy]

Sure can go down just. depends on how you have the money invested
If worry about it going down put it all in stable value fund you won't make a lot but you won't lose anything

I only said that as stated it really should state "can/could increase your 401k".

 

[IVE GOTTA PACKAGE 4U]

I only said that as stated it really should state "can/could increase your 401k".

Depends on what your time horizon is.
You need to talk to a financial planner

 

[burrheadd]

Ok. So say you started at 18(PT) until 65, it keeps increasing unlimited till 65 and beyond?

No

 

[burrheadd]

So your 401k can never go down?

No, it can certainly go down

 

[burrheadd]

Depends on what your time horizon is.
You need to talk to a financial planner

No he doesent already admitted he hasn’t saved anything for retirement and with the questions he asks I believe him

 

[IVE GOTTA PACKAGE 4U]

No he doesent already admitted he hasn’t saved anything for retirement and with the questions he asks I believe him

That's unfortunate

 

[Re-Raise]

Ok. So say you started at 18(PT) until 65, it keeps increasing unlimited till 65 and beyond?

I don’t know. I have 8 yrs part-time from 86-94. They said I would get $385 a month at 65.. I would get $150 if I took it now and retired at 55. Doing the quick math, they made it sound like I got $23 more for each year I waited until 65

 

[IVE GOTTA PACKAGE 4U]

I don’t know. I have 8 yrs part-time from 86-94. They said I would get $385 a month at 65.. I would get $150 if I took it now and retired at 55. Doing the quick math, they made it sound like I got $23 more for each year I waited until 65

Isn't something like a 6% penalty for each year your collect before age 65 on your part time pension?