Dismiss Notice

Hi Guest. I just wanted to let you know that there will be some service disruptions here over the next few days. We're moving to a new server and then the latest version of xenforo is going to be installed. ~ cheryl

Buddy retired 5 years after his retirement date.

Discussion in 'UPS Retirement Topics' started by olroadbeech, May 28, 2019.

  1. olroadbeech

    olroadbeech Happy Verified UPSer

    Left over a quarter million of pension payments on the table. just don't get it . so he'll get maybe 500-600 more a month in his pension.it will take 40 years to break even.

    he could have retired 5 years ago , collect 50k a year on his pension and worked another job or started a sideline business if they needed the money.

    worked for half wages as I see it.
    Last edited: May 28, 2019
  2. Look at how much more money he was making working instead of collecting a pension. Not counting not paying for health care benefits, building up how 401k and building up his social security.

    Everyone has a different agenda..
    • Agree Agree x 5
    • Winner Winner x 2
    • Like Like x 1
    • Friendly Friendly x 1
    • List
  3. rod

    rod retired and happy

    I'm all for everyone else working until they are at least 70. And don't file for SS either until 72. You can do it!
    • Funny Funny x 4
    • Like Like x 1
    • List
  4. Shiftless

    Shiftless Active Member

    Rod is right! Work till you puke, then a little more for good measure! SS is a fleeting emotional excersize on a monthly basis. Payday every Friday RULES!
    • Funny Funny x 2
    • Optimistic Optimistic x 1
    • List
  5. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Math is hard
  6. Jkloc420

    Jkloc420 Well-Known Member

    im hoping to make it to 67 but that is if @rod dont let me move in
  7. Indecisi0n

    Indecisi0n Well-Known Member

    Once I reach retirement age I am OUT ! You never know when its your time so take that money and run. Enjoy life.
    • Winner Winner x 2
    • Agree Agree x 1
    • Beer Beer x 1
    • List
  8. Maybe he increased his pension by working more years and his social security?
  9. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Or like you said saved big on the 401k or was putting a kid through college. Everyone’s situation is different.
  10. Or we could all work 60 years like @scratch

    • Beer Beer x 2
    • Winner Winner x 1
    • Optimistic Optimistic x 1
    • List
  11. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    The longer others work the more likely I have a pension waiting on me ;)
    • Like Like x 1
    • Agree Agree x 1
    • List
  12. over9five

    over9five Moderator Staff Member

    If you haven't retired yet, get used to the idea that there will be no pension for you..
  13. Indecisi0n

    Indecisi0n Well-Known Member

    Looks like I'll be moving in with you .
  14. over9five

    over9five Moderator Staff Member

    Bring the toys..
  15. Indecisi0n

    Indecisi0n Well-Known Member

    My sister took them back .
  16. olroadbeech

    olroadbeech Happy Verified UPSer

    last year we made $144k from pension, SS, and side business. did not dip into 401k. letting that grow.
  17. 1989

    1989 Well-Known Member

    That’s about $1200 more a month here
  18. clean hairy

    clean hairy Well-Known Member

    I am not concerned about what decisions others make, especially if it has no effect on me or my life
    • Agree Agree x 3
    • Winner Winner x 1
    • List
  19. Elvis

    Elvis Forty and out

    Go find another job that gets 7 weeks of vacation and pays over $100,000 with great benefits. Your SS is based on your 35 best earning years. Try to stick that long at least and save.
  20. 35years

    35years Well-Known Member

    Lets see in those 5 years...

    -He made 50k more each of those years as compared to his pension = $250k ahead + appreciation.... If he put that excess ($4166 a month) in his 401k at 9% average return over the last 5 years = $316,573 ahead

    -He saved $500 a month not paying for his own healthcare = $30k ahead

    - He increased his average earnings for calculating his Social Security benifits... He knocked his early low earning years out and replaced them with his highest earning years gaining him an extra $800 a month extra to begin, and this benifit is indexed for inflation ($1675 more per month after 25 years at 3% inflation) so if he collects for 25 years....$371,000 extra

    His pension monthy benifit increased $500 to $1000 a month for the rest of his life..25 years= $150k to $300k

    So for working 5 extra years he will have about $867,000 to 1 million + extra for retirement

    I think he did well.
    Last edited: May 29, 2019