True, but I was just making the point that over the long term 5k/month really isn't that much money.
Pension security
- Thread starter Kidlogic
- Start date
Shiftless
Well-Known Member
Everything is relative to ones own perspective, I get ya!
"You only know, What You Know" is my favorite phrase!
As I blather on!
For some $2500 month is fine and for others 8k aint enough.
I guess I'm not the typical retiree altho others have done the same as I did and retired very, very young.
Most had plans from what I read on here from an early age for retirement.
Time will tell tho! Runaway inflation for the fixed income crowd is always a possibility! Pension collapse! Health Insurance destroyed as we know it. SS????? Who knows? All retiree's at least have to come to terms with that!
I was 49 when I left! My wife and I had no doubt that the first available time I could retire that I would. Planning is everything. I personally couldn't stand the thought I could be paid my pension and still be working and pass all that money up while I worked. Its all about Choices!
BrownFlush
Woke Racist Reigning Ban King
If a guy sat around and figured ( more like guessed )what his pension will be worth in 15 years, if it will be around, if SS will be around, 401k, inflation, what 5k won't be....just keep working.
Need to plan but, if you think about it too much , you wouldn't enjoy retirement because your to worried about how much of the green you are not making.
When I retired, my pension was exactly half of what I made working the year before.
Like Shiftless, I have never looked back.
BrownFlush
Woke Racist Reigning Ban King
That's what did it for me.
rod
Retired 23 years
Your chances of good health are increased greatly when you retire early. I've enjoyed close to 18 years of great health (knock on wood).
I wasn't saying that 5k isn't enough to retire on, just that it's not a king's ransom and you have to be realistic about that. I can take a 25 and out next year for about $5200/month so I just might find out. Btw I like reading about early retirees like yourself who are doing just fine, I'm a big believer in leaving UPS as soon as possible.
burrheadd
KING Of GIFS
How much for insurance
That's the biggest obstacle. Be about 1300/month for my wife and I if I go next year. I might work one more year which would give another 500/month in pension and lower the insurance by at least 100/month.
That's a lot of money. It's $200 single $400 for the family. And you know the cost is never going to go down.
burrheadd
KING Of GIFS
It’s $400 total here for man and wife could have gone a few years earlier but not eligible for insurance until 55
BrownFlush
Woke Racist Reigning Ban King
Had to be 52 to get ins.
$450 wife & I
Heard its all changed now.
$450 wife & I
Heard its all changed now.
542thruNthru
Well-Known Member
$300 a month for family. $150 single.
80/20 up to $1000 per person a year.
Any age.
Oh and also no more lifetime cap.
80/20 up to $1000 per person a year.
Any age.
Oh and also no more lifetime cap.
Shiftless
Well-Known Member
When I left you had to be 50 to get insurance at 200 bucks now 300 for Wife and eye! That is why I saved time for years so I could leave even before the age requirement. One of the Best things I ever did was save Vacations and Sick Days!!!!!!!
Hopefully now other areas start allowing saving days like vacation as some did not I heard.
We can accumulate sick days here but nothing else.
ski or die
Ski or Die
Our pension is substantial lower than several other locals. But the positive side is it is less likely to reach critical status. I would rather receive the lower amount for life than have it cut by 2/3rds by the government because of to much being paid out of the pension. Just have to budget properly and live within your means. Our local is currently 92% funded. I have been retired 21 years and with our well funded pension, it should last until I kick the bucket. Bailed at 49, still young enough to enjoy life and family.
Our retiree health care plan used to be a lot cheaper, in line with some of the others posted here I think it was $150/person at 60 and went up to $300/person at 55. In 2007 they raised it to $300 at 60 and $450 at 55, a couple years ago they raised it to it's current level of $450 at 60 and $650 at 55.
It's all about planning and living within your means, no doubt. We have too many drivers making around a 100k but yet can't afford the out any money until a 401k
Anyways congratulations on your long retirement, hopefully many more years to come.
brownmonster
Man of Great Wisdom
My insurance is $625 for a couple with prettty high deductibles.
Not Teamcare?
oldngray
nowhere special
My retiree insurance isn't Teamcare. Its Aetna but changed for the worse when most other people had to switch to Teamcare. Its a little bit better but not much difference. $150/month for a single person. Deductibles went up but not terribly so.
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