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UPS Retirement Topics
Buddy retired 5 years after his retirement date.
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<blockquote data-quote="35years" data-source="post: 4086160" data-attributes="member: 60822"><p>I assure you my math is correct.</p><p></p><p>The $50k plus ayear that he made working cant all go into the 401k, but it could still be invested in the market which averaged 9+ % over the last 5 years.</p><p></p><p>Social security is based off your top 35 wage years. None of us made $110,000 at UPS 35 years ago. Your 18 years to break even doesnt take into account the increased benifit amount he will recieve every month for the rest of his life, which is also indexed automatically for inflation.</p><p></p><p>He didnt leave $250k on the table. He made $500k during those years as opposed to collecting 250k. He will be far better off financially because he worked those 5 years.</p><p></p><p>Look, there are many good reasons to retire early, but unless you have a job lined up that pays $60,000+ you will take a hit financially.</p><p></p><p>Each of us has to decide what is best for ourselves. Not everyone has a spouse with a pension. Not all of us are old enough to collect SS. Most of us would be paying far more than $75 for healthcare.</p><p></p><p>I know many retired drivers. Only one of them considered all of the financial ramifications of retiring early....More like "I am gettimg out as soon as I am elligable" without considering how much it will cost them Then they are forced to work as a school bus driver or something simular for peanuts.</p></blockquote><p></p>
[QUOTE="35years, post: 4086160, member: 60822"] I assure you my math is correct. The $50k plus ayear that he made working cant all go into the 401k, but it could still be invested in the market which averaged 9+ % over the last 5 years. Social security is based off your top 35 wage years. None of us made $110,000 at UPS 35 years ago. Your 18 years to break even doesnt take into account the increased benifit amount he will recieve every month for the rest of his life, which is also indexed automatically for inflation. He didnt leave $250k on the table. He made $500k during those years as opposed to collecting 250k. He will be far better off financially because he worked those 5 years. Look, there are many good reasons to retire early, but unless you have a job lined up that pays $60,000+ you will take a hit financially. Each of us has to decide what is best for ourselves. Not everyone has a spouse with a pension. Not all of us are old enough to collect SS. Most of us would be paying far more than $75 for healthcare. I know many retired drivers. Only one of them considered all of the financial ramifications of retiring early....More like "I am gettimg out as soon as I am elligable" without considering how much it will cost them Then they are forced to work as a school bus driver or something simular for peanuts. [/QUOTE]
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UPS Retirement Topics
Buddy retired 5 years after his retirement date.
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