Oldfart
Well-Known Member
Airline travel discount? I do better on the open market.
When Will You Retire?
- Thread starter vantexan
- Start date
It's for traveling overseas, which gets expensive. It's standby, but we aren't in a hurry.
McFeely
Huge Member
Not eligible for holiday pay if you call in sick the day before or after a holiday. At least that's what I've been told.
rod
Retired 23 years
That's what I like to hear. Don't be getting into my SS pie early-----------that was my plan. I've drawn about $1,900 a month for over 6 years now. Glad I didn't wait.
SmithBarney
Well-Known Member
It's no mystery, look at your ID badge it has an expiration date, that's when you are finito!
Something to consider: you could take an appropriately .30 reduction at 62, which, let's assume, would be around $1680 per month (1680*12*5 = 100,800). If you wait until 67 you will receive approximately $2400, or $720 more per month - 100,800/729 = 140/12 = 11.6 (more-or-less). This means you will have to live past the average life expectancy to come out ahead by waiting. Of course,if your working past age 62 this changes things, but you get the idea.
MrFedEx
Engorged Member
How will you get over the wall when you come back to Fred a third time?
MrFedEx
Engorged Member
God, I agree with you again. WTH is wrong? Did the Earth tilt too far on it's axis? Yes, our airline discounts suck, because the "discount" is calculated from the highest fare.
Have you priced airfare to Europe recently? With the discount we can get to a major airport like London very reasonably, then switch to one of several very good discount airlines to get across the continent. Beats paying $2000+ each to get there.
The Peso came close to 22 to the Dollar this week. It was 13 to 1 when we were there in 2013. Their inflation rate is about 3% so if you have Dollars your purchasing power increased at a much faster rate. At $16.60hr I can't possibly do as well working for FedEx. At this point $25hr isn't worth trading years of my life, especially if my pension in Mexico is worth 3 times what it is here. But hey, keep fighting the good fight, keep that Dollar strong!
I have a lady on my route that goes to Mexico from December thru February. She pays $600 a month and that includes breakfast and lunch. She says it's cheaper than keeping her utilities on in the winter.The Peso came close to 22 to the Dollar this week. It was 13 to 1 when we were there in 2013. Their inflation rate is about 3% so if you have Dollars your purchasing power increased at a much faster rate. At $16.60hr I can't possibly do as well working for FedEx. At this point $25hr isn't worth trading years of my life, especially if my pension in Mexico is worth 3 times what it is here. But hey, keep fighting the good fight, keep that Dollar strong!
Serf
Well-Known Member
If you don't mind, what was the ballpark number on that PPA lump sum? As for me, I would rather die with my boots. I cannot sit still, I do not golf, hunt, or fish. I'll work as long as I am physically able to. I have a feeling Mexico is going to be awesome, regardless of the naysayers.
You sound like my grandfather who was a well driller. Was working in 95 degree heat the day before he died at 82. Nothing wrong with that, he loved what he did.
I'd been back 2.5 years this time so didn't have much in my account. But my age+years of service put me at 9% so still managed almost $10k. Your last year, your last fiscal year that is, can still get you some money if you get 1000 hrs on the clock. For most people that would be late November. In other words you don't have to work until the end of the fiscal year to get something. So unless like me with a January birthday if you want to quit before Peak but want to hang in there a little longer past your say, August birthday, you can walk before Peak and get paid. Catch is that you have to wait 75 days for that last year's payment. The rest will be paid shortly after you retire as long as you started the process 90 days before your commencement.
Tens of thousands do winter only just like her. And Mexico beach weather in winter is pretty near perfect.
MrFedEx
Engorged Member
Standby can be a decent option. Congratulations on leaving van, and please don't ever consider returning.
You've escaped Devil's Island twice....enjoy your freedom.
HuckToohey
You are entering a world of pain.
I have well over 30 years. Less than a year. IF I can stand it. The daily abuse from FedEx has become intolerable, with no end in sight.
I've worked in a few places like that but not all of them were that bad. When you do get abusive mgrs, and the company is screwing you on pay and benefits, and you've got a few abusive coworkers to contend with daily, and you're running a super heavy rt it can feel like hell on Earth. I've seen former NFL players on tv say that they wonder how they ever took that kind of punishment when they played. And looking back I wonder how I ever put up with FedEx without walking or punching someone. When it's bad it's really bad.
Oldfart
Well-Known Member
Exactly. I believe my break even for SS is living past 82. The correct answer for when to draw SS is not black and white. It is different for everyone and if you ask 10 people, you will get 12 different answers. One advantage of waiting is the ability to make more money should you decide to work while drawing SS. The penalty kicks in at about 15k when you draw at 62. About 40k or so if you draw at 66 or 67 and there is no penalty for income if you wait till 70.
The same goes for the Traditional Pension. You can actually do very well drawing it at any age below 60 and still be close to even. You lose 3% for every year before 60 but you are only looking at about $650 per year penalty for every year you draw before 60.
If an employee is not married when he retires, he can take the SS leveling option and draw some good money when he retires. Since he isn't married he doesn't need to worry about leaving money to a spouse when he dies.
No matter what some will say. The Portable Pension has an advantage over the Traditional because you can leave that money to ANYONE, not just a spouse. The Traditional can only go to a spouse unless you take the lump sum option and leave that money to ANYONE. The big problem there is the lump sum option is equal to about 5 years of monthly payments in my case. If you draw the payments for more than 5 years, you will easily bring in more money by taking the monthly and not the lump sum.
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OrioN
double tap o da horn dooshbag
Here's a typical ground or HD retirement plan:
But yeah, I'm on the 401k plan... at least it's something
I use the tips I get from my customers to buy them lottery tickets though, so at least it's a shot n kewl story if I do hit it; not holding my breath
Life is short, get out n enjoy it while you are able; I lost both parents at age 70... they were too young to go soo soon
But yeah, I'm on the 401k plan... at least it's something
I use the tips I get from my customers to buy them lottery tickets though, so at least it's a shot n kewl story if I do hit it; not holding my breath
Life is short, get out n enjoy it while you are able; I lost both parents at age 70... they were too young to go soo soon
McFeely
Huge Member
My parents both retired at 55 and I figure that's not really possible for me. My kids will be out of the house in 10 years (crossing my fingers) so that gives me time to finish up my FT career and possibly move to a PT position if I stay in the company.
I'm fortunate that in my previous career I was able to sock away a very decent amount into my 401k and it's done pretty well for me. Another 15 years of growth on that and I just might be far enough along that I can be done somewhere between 55-60.
I'm fortunate that in my previous career I was able to sock away a very decent amount into my 401k and it's done pretty well for me. Another 15 years of growth on that and I just might be far enough along that I can be done somewhere between 55-60.
