Received Financial Windfall. Would You Consider Early Retirement?

Mike57

Well-Known Member
Many on this board have brought up points here, Insurance ,is but one of many things that you have to think about.
Good Luck
 

barnyard

KTM rider
This is a no-brainer to me. If one of you can retire, do it. If both can, do it.

I have recently seen a couple of friends die suddenly. Not sick, no hint of a problem. Tipped over and died. I have had other friends diagnosed with cancer, lived for a year and then died pretty horrible deaths.

My wife is getting an inheritance in the next couple of weeks. We are paying off our house and she is leaving her job. After a year, if I can leave UPS, I am gone (should be able to, will be 100% debt free, we just want to make sure we live within our budget and that we have really thought of everything.) Even if I have to work another job, fine.

I do not care about UPS at all and am not interested in giving them any more of my life than I have to. The rest of my time will be spent making my family happy.

eff off UPS.
 
A

anonymous6

Guest
i'll have the house payed off w/o the windfall soon. i also have an appt. with the pension guy next month.

thanks , all , for the input. thinking of a combo of suggestions sounds good.
 

bbsam

Moderator
Staff member
The title of this thread throws up a red flag to me: Easy come, easy go. Something strange happens in people's mind when they come across money they didn't have 24 hours ago.
 

packageguy

Well-Known Member
A little while ago my wife and i received a financial windfall. It's basically money we earned over a 5 yr period which was finally released to us. We earned it.

With about 5 yrs to go I am really tempted to retire early and do the things I have planned for many years.

What should I consider?

I always say, if you can afford it, just do it. Enjoy life to the fullest. Just do it.
 

beentheredonethat

Well-Known Member
Talk to a financial adviser you can trust. PERIOD.
Steeltoe beat me to it. I believe he is right. Get all the information about your status with your pension, and your medical coverage. Talk with a financial advisor and have him run through various scenarios. What happens if a few years into retirement your union pension is reduced? What if the copay for insurance jumps sky high? What happens if inflation jumps to 10% (or higher). Will you be able to stay retired and live comfortably in all the scenarios? Will you be OK if under some scenarios you need to go back to work? The decision is yours.
 

ibshines

Member
I left 2 years shy of 30 full time.Quit ,don't look back I gave up a full pension and with the job i took with the state I make more money. There is life after parcel,go see how the real world lives.Home every night,dinner with the family,run away live the rest of your life without being a name on a least best list.
 

DorkHead

Well-Known Member
Steeltoe beat me to it. I believe he is right. Get all the information about your status with your pension, and your medical coverage. Talk with a financial advisor and have him run through various scenarios. What happens if a few years into retirement your union pension is reduced? What if the copay for insurance jumps sky high? What happens if inflation jumps to 10% (or higher). Will you be able to stay retired and live comfortably in all the scenarios? Will you be OK if under some scenarios you need to go back to work? The decision is yours.

Here in West New York once you are retired, by law, your pension cannot be reduced. Unless the gov takes it over
 

packageguy

Well-Known Member
Honey with this dough it might be time to retire. Let me ask a bunch of people I never met on a website and see what they say. Ho boy

This is what "YOU CAN'T FIX STUPID" Wants to see and hear what
people think, There is nothing wrong with that. You on the other hand want to bash brown cafe, why bother.
Go and play donkey kong or something.
 

Nimnim

The Nim
This is what "YOU CAN'T FIX STUPID" Wants to see and hear what
people think, There is nothing wrong with that. You on the other hand want to bash brown cafe, why bother.
Go and play donkey kong or something.

I think it was more of a "perhaps BC isn't the best place to go for financial advice to guide the rest of my life" thing. Could have been worded better though.
 

UpstateNYUPSer(Ret)

Well-Known Member
Honey with this dough it might be time to retire. Let me ask a bunch of people I never met on a website and see what they say. Ho boy

Maybe he should ask his feeder manager.

Then, why do you come here, 'Ezmerelda'?

This is what "YOU CAN'T FIX STUPID" Wants to see and hear what
people think, There is nothing wrong with that. You on the other hand want to bash brown cafe, why bother.
Go and play donkey kong or something.

That's not the way that I read it. She was putting herself in to the OP's wife's shoes.

This reminds me of the episode of "House" where the patient, who had a blog on the Internet, was asking total strangers for their opinion on her medical care.

There are some things that I will come here for advice--early retirement due to a financial windfall would not be one of them. This is a discussion for Mr. and Mrs. Oranputeh and their financial adviser, which is the point Ezmerelda was trying to make.
 

toonertoo

Most Awesome Dog
Staff member
I thought it was called social networking, what did it hurt to get some opinions here?. The OP didnt send a contract and ask someone else to sign it just asked opinions. Always, the more you research the better.
 
Consider all free advice for what it's worth.

As Tooner said, nothing at all wrong with getting other opinions on just about any subject, just don't take any of it too seriously.

Oranputeh, congratulations on the windfall. I hope you find a way to use it to YOUR best advantage.
 
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