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<blockquote data-quote="wkmac" data-source="post: 891712" data-attributes="member: 2189"><p>Learn about the difference between a service pension and an accrued pension to determine the monetary benefit of staying till 64. I've got my 30 years and can go now but I want to continue to work so for the moment I'm staying with the thought in mind that I will get more but if I happen to hit milestone age of 62 and then 65, the economic benefits of an accrued pension verses a service pension are worth considering. In my case, here's a brief breakdown of what I discovered in my case.</p><p></p><p>If I leave now:</p><p>$3000 per month, minus survivor benefit for wife, minus insurance premium, minus state and federal income tax. Somewhere around $2k takehome</p><p></p><p>Leave at 62:</p><p>$4400 per month, minus survivor benefit for wife, minus taxes. Somewhere between $3500 and $4k take home and closer to $3500 I would think</p><p></p><p>Leave at 65:</p><p>Right at $4900 per month, minus taxes</p><p></p><p>Each person would have to look at their situation, how they feel both mentally and physically and then go from there. For the moment, I want to continue working so why not stay where I am with all the vacation, seniority, benefits but I have been talking to some folks about doing my dream job so you never know. My dream job in retirement? Driving one of these</p><p></p><p>[ATTACH]5963[/ATTACH]</p><p></p><p>And yes, I'm dead serious!</p><p>[ATTACH=full]5963[/ATTACH]</p></blockquote><p></p>
[QUOTE="wkmac, post: 891712, member: 2189"] Learn about the difference between a service pension and an accrued pension to determine the monetary benefit of staying till 64. I've got my 30 years and can go now but I want to continue to work so for the moment I'm staying with the thought in mind that I will get more but if I happen to hit milestone age of 62 and then 65, the economic benefits of an accrued pension verses a service pension are worth considering. In my case, here's a brief breakdown of what I discovered in my case. If I leave now: $3000 per month, minus survivor benefit for wife, minus insurance premium, minus state and federal income tax. Somewhere around $2k takehome Leave at 62: $4400 per month, minus survivor benefit for wife, minus taxes. Somewhere between $3500 and $4k take home and closer to $3500 I would think Leave at 65: Right at $4900 per month, minus taxes Each person would have to look at their situation, how they feel both mentally and physically and then go from there. For the moment, I want to continue working so why not stay where I am with all the vacation, seniority, benefits but I have been talking to some folks about doing my dream job so you never know. My dream job in retirement? Driving one of these [ATTACH]5963.vB[/ATTACH] And yes, I'm dead serious! [ATTACH=full]5963[/ATTACH] [/QUOTE]
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