What Are The Advantages Of NOT Retiring When You Can?

[anonymous6]

the math does not add up. depending on pension you can earn $20-25 dollars an hr at home by retiring . But by staying you would only earn $7 -10 dollars an hr. that doesn't make sense.

you could collect pension and/or start business or work another job for $20 or more an hr. that's what my dad did. collected pension at 55 and then worked an enjoyable part time job for years. and collected SS.

so why stay for just 10 bucks an hour? we have a lot of guys at my hub staying past retirement and i ask them why. they get mad. they say " I've got bills to pay" "can't stand wife" " have nothing else to do"

enlighten me, please

 

[rod]

the math does not add up. depending on pension you can earn $20-25 dollars an hr at home by retiring . But by staying you would only earn $7 -10 dollars an hr. that doesn't make sense.

you could collect pension and/or start business or work another job for $20 or more an hr. that's what my dad did. collected pension at 55 and then worked an enjoyable part time job for years. and collected SS.

so why stay for just 10 bucks an hour? we have a lot of guys at my hub staying past retirement and i ask them why. they get mad. they say " I've got bills to pay" "can't stand wife" " have nothing else to do"

enlighten me, please

To those with flimsy excuses not to retire:

1. If you haven't got your finances under control after working 30 years at a great paying job a few more years isn't going to make a difference. You are living beyond your means.

2. Can't stand the wife? Hey-the feelings probably mutual.

3. You live a sorry life if working for UPS is all you have to do.

 

[Brownslave688]

Just had a driver get his 40 year plaque. I told him I think it's time to go. He said I like the money. I freaking love the money and that why I'm putting away tons for retirement and I can promise you all will be paid off by the time I hit 55. I'll live better in retirement than I do now. It's stupid to hang on into your 60's. retire already there are many young people with families waiting for a chance.

 

[Justaname]

Just had a driver get his 40 year plaque. I told him I think it's time to go. He said I like the money. I freaking love the money and that why I'm putting away tons for retirement and I can promise you all will be paid off by the time I hit 55. I'll live better in retirement than I do now. It's stupid to hang on into your 60's. retire already there are many young people with families waiting for a chance.

I agree, but could understand why they stay. Most of the drivers getting ready to retire at my center are great guys that will be missed.

 

[rod]

Anyone who choses to stay longer than they have to has probably had the life sucked out of them years ago anyway.

 

[UpstateNYUPSer(Ret)]

"have nothing else to do" is the real reason old-timers can't/won't retire.

 

[anonymous6]

my house will be payed off before retirement. matter of fact we have a checklist.....all appliances replaced, new car, new roof, etc etc taken care of before retirement.

also will make more AFTER i retire with pension, SS, IRA and 401k pay. a part time job or business will be gravy.

 

[brett636]

There are plenty of reasons. Some can't afford to retire considering our pension pays less than half of what most of us make or are waiting to max out their pension, and they didn't bother to save much during their working years. Others don't like their wives or have ex wives who get half their pension. Some are just afraid they will die with a year of retiring. Whatever their reasons are I will not bash them for it. Sure it would benefit me if all those retirement eligible drivers would retire, but they earned the right to retire when they want to, and its not my place to criticize that since I could very well be in their shoes someday.

 

[oldupsman]

I have a fellow package driver I've known for 30 years. Guy was 15 years older than me. Could have retired at 62 with 33 years.
Never had any hobbies, was afraid he wouldn't know what to do. Stayed 7 more years until he was 69 and had 40 years in,
all in package car. I see him occasionally. He told me staying was the biggest mistake of his life. He has found tons of stuff
to do. Says the extra money means nothing compared to the time he lost in his life.

 

[want to retire]

my house will be payed off before retirement. matter of fact we have a checklist.....all appliances replaced, new car, new roof, etc etc taken care of before retirement.

also will make more AFTER i retire with pension, SS, IRA and 401k pay. a part time job or business will be gravy.

32 years here. OK. What if pension, and ss and let's do end of the world.....401k disappears or quits giving income......what ya gonna do? I have always felt quite secure working at UPS. Pension plus ss and paid off bills were the plan. But now, at 50 and the talk of "we're going to "fix" ss" for people under 55......and our pensions in doubt or reduced.........I really wonder. Really, really wonder. People say " hey don't borrow trouble.....never happen"...BS.....I believe it WILL happen. OK. So you replace all that stuff........what are you going to do in 10 years....20 or even 30? You'll need all that stuff about every decade. Haven't really talked about healthcare.

 

[want to retire]

I have a fellow package driver I've known for 30 years. Guy was 15 years older than me. Could have retired at 62 with 33 years.
Never had any hobbies, was afraid he wouldn't know what to do. Stayed 7 more years until he was 69 and had 40 years in,
all in package car. I see him occasionally. He told me staying was the biggest mistake of his life. He has found tons of stuff
to do. Says the extra money means nothing compared to the time he lost in his life.

Interesting. 32 years here. I'm 50. The problem I have is that my house has 10 more years to pay off. My daughter is piling up tuition debt(which I think I should cover and have promised, her college is not extravagant but it's gonna be about $24k). Which means I'll probably have to stay(if possible) till 60(unless I find a magic lamp or so). I have plenty of hobbies but they take money(most do) and it adds up pretty quick. I have several college degrees and I'm a certified aircraft mechanic and lot's to offer(plus my cdl). But, I look around and with the airline/aircraft industry in freefall(and economy)(UPS has 100 mechanics laid off).......I factor in 7 weeks vacation, $90K, insurance......I get depressed thinking I'll be doing this same **** till I'm 60. No person on my Dad's side of the family has lived past 72. 72-60 is 12. Not alot. I have always told myself I wouldn't stay past 30 years.......the bottom line to all of this is I can't seem to give up the crackpipe of $1200 a week.

 

[Dracula]

Who is anyone here to say what/why or when another UPSer will retire? Everyone has a reason for what they do. So what if someone works after 60? So what if they still need the money? Whose business is it anyway? Definitely not yours or mine.

 

[UpstateNYUPSer(Ret)]

Who is anyone here to say what/why or when another UPSer will retire? Everyone has a reason for what they do. So what if someone works after 60? So what if they still need the money? Whose business is it anyway? Definitely not yours or mine.

That is a discussion for another thread. The OP asked a simple question---What are the advantages of NOT retiring when you can? IMO there are none.

 

[BMWMC]

One big reason is health insurance. Retiree health insurance is exspensive and not as good. Really though with up to 8 weeks off a year plus weekends off I already live like I'm already retired. Just to stop working because I can is a lousy reason to leave.

 

[rod]

One big reason is health insurance. Retiree health insurance is exspensive and not as good. Really though with up to 8 weeks off a year plus weekends off I already live like I'm already retired. Just to stop working because I can is a lousy reason to leave.

Let me guess----------feeders?

 

[Catatonic]

Let me guess----------feeders?

BMW MotorCycle.

 

[BMWMC]

One big reason is health insurance. Retiree health insurance is exspensive and not as good. Really though with up to 8 weeks off a year plus weekends off I already live like I'm already retired. Just to stop working because I can is a lousy reason to leave.

Think about this:
Lets say you get $4500 a month
-$1200 survival spouse rider
-$1200 retire health insurance (but no were near as good)
-2% popup for husband outliving wife

So your down to $2000 a month.

S

 

[anonymous6]

32 years here. OK. What if pension, and ss and let's do end of the world.....401k disappears or quits giving income......what ya gonna do? I have always felt quite secure working at UPS. Pension plus ss and paid off bills were the plan. But now, at 50 and the talk of "we're going to "fix" ss" for people under 55......and our pensions in doubt or reduced.........I really wonder. Really, really wonder. People say " hey don't borrow trouble.....never happen"...BS.....I believe it WILL happen. OK. So you replace all that stuff........what are you going to do in 10 years....20 or even 30? You'll need all that stuff about every decade. Haven't really talked about healthcare.

very valid point. we have a 65 year old driver who told me that once you hit 65 he can collect his pension and still work at UPS. he also said the same thing about SS. I thoght you would be penalized for earning too much and collect 100% of your SS.

i'll still retire when i can even if everything goes to hell. the best time of my life was when i was living in an old toyota on the ft lauderdale beach in 1980.

 

[Brownslave688]

Interesting. 32 years here. I'm 50. The problem I have is that my house has 10 more years to pay off. My daughter is piling up tuition debt(which I think I should cover and have promised, her college is not extravagant but it's gonna be about $24k). Which means I'll probably have to stay(if possible) till 60(unless I find a magic lamp or so). I have plenty of hobbies but they take money(most do) and it adds up pretty quick. I have several college degrees and I'm a certified aircraft mechanic and lot's to offer(plus my cdl). But, I look around and with the airline/aircraft industry in freefall(and economy)(UPS has 100 mechanics laid off).......I factor in 7 weeks vacation, $90K, insurance......I get depressed thinking I'll be doing this same **** till I'm 60. No person on my Dad's side of the family has lived past 72. 72-60 is 12. Not alot. I have always told myself I wouldn't stay past 30 years.......the bottom line to all of this is I can't seem to give up the crackpipe of $1200 a week.

$1200 a week!!!! I have to work about 55 hours to clear that and I don't feel like I put away nearly enough for retirement. As soon as the wife finishes school ill prob be lucky to clear $1000. Right now if I clear $1000 anything over is my play money. I take it in cash and do as I please. Also I admire you wanting to pay your kids school but look at this way. You have under ten years to save for your retirement. You only have so many years you can work especially a physical job like this. Any financial "expert" will tell you. Only pay for your kids school after all your ducks are in a row an you have nothing to worry about. After your kid graduates they have 30-40 years to pay that loan off.

 

[anonymous6]

Who is anyone here to say what/why or when another UPSer will retire? Everyone has a reason for what they do. So what if someone works after 60? So what if they still need the money? Whose business is it anyway? Definitely not yours or mine.

please do not misunderstand me. i am not getting down on drivers who don't retire when they can. i don't understand why they are staying for 10 dollars an hr. they could retire from here and get another job that pays 2-3 times more on top of their pensions. i wonder if they understand the math?