Plan to retire in a few weeks- Please advise if anything different

[UPSmechanicinblue]

She’s got her own pension
that 250k will go to remodel the house and pay for her and her new man to go to Monaco for a couple weeks

LOL this is why I like this place its funny and also true for some

 

[Wally]

I didn't know on the life insurance policy before. I just got a whole bunch of quotes yesterday. I will check on this more Thanks!!

Thing is, you might find some health problems that might raise insurance rates. If that happens you might be better off taking the spouse survivor option.

You are only 51, so a 20 year policy only gets you to 71.

Dudes like the @Thebrownblob never get preferred plus insurance rates, too porky.

 

[UPSmechanicinblue]

All number crunching must be done before you apply for retirement. Any life insurance policies must be in place before you stop working.

Does your pension plan have a guarantee payout if you die shortly after retirement?

My plan has a guarantee 10 year payout so, you calculate need at spouse's age at that time.

$250k seems like a low number, but then again only you know her needs moving forward.

I also have no clue what the central region UPS teamster fund is on payout if I die? I know I'm not getting the reduced. Another thing I need to check on Thanks again

 

[Wally]

I also have no clue what the central region UPS teamster fund is on payout if I die? I know I'm not getting the reduced. Another thing I need to check on Thanks again

Man, do the homework. You are not ready for the final exam yet.

 

[UPSmechanicinblue]

Thing is, you might find some health problems that might raise insurance rates. If that happens you might be better off taking the spouse survivor option.

You are only 51, so a 20 year policy only gets you to 71.

This is all new to me. Thanks for this info I can pass it along. I honestly have no clue how the insurance actually works. I know I got the quotes and was asked about on any meds or health issues. I have none that I know of

 

[UPSmechanicinblue]

I agree!!! so glad I asked now kinda scary if I wouldn't of

Man, do the homework. You are not ready for the final exam yet.

 

[Wally]

This is all new to me. Thanks for this info I can pass it along. I honestly have no clue how the insurance actually works. I know I got the quotes and was asked about on any meds or health issues. I have none that I know

Look up pension maximization. Maybe consider staying longer. The central fund top rate is around $5300 currently.

 

[textat3]

Look up pension maximization. Maybe consider staying longer. The central fund top rate is around $5300 currently.

Wow local 639 is double that for 30 and out

 

[UPSmechanicinblue]

Look up pension maximization. Maybe consider staying longer. The central fund top rate is around $5300 currently.

I don't want to get into another year another year why not one more. That's 3 years for me to get 5300. Another back injury I would need surgery I am sure and most are not a permanent fix nor as good as no injury. A close friends wife just passed at 45 no prior issues, another 55 cancer. I feel fine now and want to retire that way. I know to many that retire because they have to not want to. I can get by fine now so I feel its way better to be out and retirement when I can still about do anything. Every year I work is one less I enjoy in retirement healthy feeling good no meds etc etc My thoughts for now but could change

 

[UPSmechanicinblue]

Wow local 639 is double that for 30 and out

I hate hearing that!!! lol

 

[UPSmechanicinblue]

Look up pension maximization. Maybe consider staying longer. The central fund top rate is around $5300 currently.

please don't take that the wrong way I appreciate you pointing that out. I'm sure others will benefit from all this

 

[Jones]

Don't sweat maxing the vacation week payout, a year from now you won't care.

 

[CHEMA-DELMA]

Congrats

 

[UnionStrong]

Congrats

Free at last….

 

[oldngray]

 

[rod]

I am submitting to retire after almost 31 years, Im in the central region. Only 51 so get the 4200 I don't need insurance nor reduced pension being wife will be working for another 8 years or so. I've read I can get ours when I am 55 if needed. I will be on her health insurance, she has her own pension so we are getting everything motorized so I get the full. I am checking the life insurance per what other drivers did when they retired. 116 a month for 250 k is what one was. I am waiting on a call for my quote. I am just done burnt out and have no health issues as of now. I recovered from a back injury naturally prior and don't want it to happen again to where I need surgery or cannot be fixed. So waiting a little over 3 years for the increased amount maybe not worth it. Any pointers from others would be a great help? I thought I seen retire end of month is a plus? I can care less about working to get all my vacations. I want out this summer to enjoy, been 31 years working late afternoons into the late night. Kinda like my drivers now getting it at 11pm!!!! Thanks all

The magic words to a happy retirement.

 

[rod]

Thanks!!! wife getting stuff notarized today!!! I need to pick a date but now wondering my seniority date is in Sept. I have a week 7 weeks of vacation already in for this calendar year between the week after next and September. When exactly would I get my other 7 weeks earned? Maybe I should stay to get those then I get another 100 a month in pension in sept. I know I will not do another winter (peak) here but if close to the 7 weeks pay I maybe extend it. If anyone could advise? Thanks

A wise old friend once told me "there will always be a carrot on the end of a stick to keep you working longer but don't fall for that BS". Get out as soon as you can. If you don't have a house or car payment or student loans then RUN LIKE THE WIND.

 

[rod]

i will be totally lost for awhile. I've been working since 14 never been out of work besides vacations

NO YOU WON"T---I guarantee it. If you want to------ find a FUN JOB just to keep you busy enough. When I retired I helped a friend who owned a fishing tackle manufacturing business for a year or two. I then got a part time job with the DNR for a month or two in the spring. I would fly around all day in a little Cessna 172 looking for forest fires during our spring fire season. I then got a gig with the local township taking care of a township park , cemetery and town hall. That was a great job as I set my own hours and worked when I wanted to and it didn't hurt that it paid great----- I did that for 14 years. I retired in 2001 and now am FULLY RETIRED with more money than god and no bills.

 

[pkgdriver]

Had a brother die of a heart attack about 10 days ago. Retired about 11 months ago with about 34 years in.

 

[Wally]

The magic words to a happy retirement.

What if they work from home often?