Early Retirement.

[Serf]

What started out as something that was supposed to be temporary until I got “something else,” ended up being a 12 year bid. I got comfortable, kept getting hours, and just stayed. Even though seemingly everything company wise was eroding in real time. With combining Opcos. Layoffs. The nightmare Estar was. The rollout of Valet that won’t actually be implemented. Lousy healthcare, no defined wage progression, average retirement at best, a lousy vehicle fleet. When’s it time to make a break officially?
I’m only 41. I am in very good shape. Aside from going on the retirement website and filing for the earliest commencement date of taking portable pension, do I have to do anything else? I would leave my 401k as is. Just rollover to a new job. Elect to take portable pension in lump sum. Even with the penalty it serves as a pittance of severance in a way. If I don’t make a break now, I never will.

 

[MassWineGuy]

Every point is excellent and understandable. By all means go. You’re young enough to pursue another path.

I’ve been thinking about just switching to some car parts delivery job with better benefits.

Please keep us updated.

 

[whenIgetthere]

Every point is excellent and understandable. By all means go. You’re young enough to pursue another path.

I’ve been thinking about just switching to some car parts delivery job with better benefits.

Please keep us updated.

A co-worker retired about six years ago. He then went to work for an auto parts dealer delivering part-time, saw him last week and he's working over 40 hours a week now, only benny he gets is 401K match. Dude is 72 years old. That's just sad.

 

[zeev]

What started out as something that was supposed to be temporary until I got “something else,” ended up being a 12 year bid. I got comfortable, kept getting hours, and just stayed. Even though seemingly everything company wise was eroding in real time. With combining Opcos. Layoffs. The nightmare Estar was. The rollout of Valet that won’t actually be implemented. Lousy healthcare, no defined wage progression, average retirement at best, a lousy vehicle fleet. When’s it time to make a break officially?
I’m only 41. I am in very good shape. Aside from going on the retirement website and filing for the earliest commencement date of taking portable pension, do I have to do anything else? I would leave my 401k as is. Just rollover to a new job. Elect to take portable pension in lump sum. Even with the penalty it serves as a pittance of severance in a way. If I don’t make a break now, I never will.

I think you have to be 50 to qualify for the retirement health insurance benefits. My advice is get your Cdl if it’s still available I think they will keep the RTD’s but who knows at least you have a marketable skill.

 

[Serf]

I think you have to be 50 to qualify for the retirement health insurance benefits. My advice is get your Cdl if it’s still available I think they will keep the RTD’s but who knows at least you have a marketable skill.

We have a hiring freeze/transfer for RTD. But I’d walk right now, use some of the G.I. Bill and get an A or B license.

 

[MassWineGuy]

In all seriousness, I expect that when benefits selection comes in the fall, offerings will look much worse than they are now. Difficult to imagine.

 

[Lates]

Just get on job sites and look. I wouldn’t quit till I had something else lined up it’s a lot easier finding a job when your employed can take your time and apply for things you want and not end up feeling stuck.

 

[FedupExpress]

I'm about to be 37 and hoping to get out when I can after

A co-worker retired about six years ago. He then went to work for an auto parts dealer delivering part-time, saw him last week and he's working over 40 hours a week now, only benny he gets is 401K match. Dude is 72 years old. That's just sad.

With the way things are going it's said pretty much minority will be financially able to retire in the future

 

[Serf]

I'm about to be 37 and hoping to get out when I can after

With the way things are going it's said pretty much minority will be financially able to retire in the future

Without detailing the thread, I eventually will post more on my escape from FedEx. However, the “idea” of retirement is sold and marketed in such a unrealistic way. I have a much simpler approach; 1) You are smart enough to not have a mortgage when you are done working. 2) Your lucky enough to have kids and grandkids. 3) With the combo of all your financial assets & Social Sec, you have 25 years of monthly expenses covered. Then you die. If you don’t have what I mentioned, you take the bus to the mall wearing Velcro sneakers and walk for exercise and pay for McDonald's coffee with change.

 

[Serf]

Just get on job sites and look. I wouldn’t quit till I had something else lined up it’s a lot easier finding a job when your employed can take your time and apply for things you want and not end up feeling stuck.

I agree. But getting that Portable payout makes job searching a lot easier. As I have many months of living expenses covered. I don’t wanna eff this up. Because hopefully the next 18-22 years I land somewhere I can call home. And doesn’t erode and combust like Express did and is.

 

[MassWineGuy]

Out of curiosity, I applied for a parts delivery job at O’Reilley’s. I doubt they pay $27 an hour. But the benefits might be lots better. But I’m in no rush.

 

[Lates]

I agree. But getting that Portable payout makes job searching a lot easier. As I have many months of living expenses covered. I don’t wanna eff this up. Because hopefully the next 18-22 years I land somewhere I can call home. And doesn’t erode and combust like Express did and is.

I get that but if it is like a 401k you’ll pay taxes and a penalty then depending on house hold income could put you in a higher tax bracket for the year. If you find a job first then you can decide what to do based on the new jobs pay. I’ve been unemployed several times companies seem more interested in hiring people who are currently working than not working. That’s how I ended up at fedex was unemployed for 8 months couldn’t even get in the door at most places during Covid. Saw a casual position with fedex and applied thinking it would be temporary two years later I’m still here. But I have had several interviews recently and fairly certain I will get one of them.

 

[AB831]

What started out as something that was supposed to be temporary until I got “something else,” ended up being a 12 year bid. I got comfortable, kept getting hours, and just stayed. Even though seemingly everything company wise was eroding in real time. With combining Opcos. Layoffs. The nightmare Estar was. The rollout of Valet that won’t actually be implemented. Lousy healthcare, no defined wage progression, average retirement at best, a lousy vehicle fleet. When’s it time to make a break officially?
I’m only 41. I am in very good shape. Aside from going on the retirement website and filing for the earliest commencement date of taking portable pension, do I have to do anything else? I would leave my 401k as is. Just rollover to a new job. Elect to take portable pension in lump sum. Even with the penalty it serves as a pittance of severance in a way. If I don’t make a break now, I never will.

That’s what I did. I’m 32. Rather than thirty years for peanuts, I just paid the penalty and cashed out. Helped renovate the kitchen and paid for vacation for the next two years.

 

[BoxDriver]

Out of curiosity, I applied for a parts delivery job at O’Reilley’s. I doubt they pay $27 an hour. But the benefits might be lots better. But I’m in no rush.

I just looked at Indeed, and the Advance Auto Parts near me is hiring drivers at $11/hr. Judging by the constant rotation of employees in the stores, I doubt the benefits are much to talk about either.

 

[MassWineGuy]

Yes, I doubt very that I’d take the job.

 

[qdg2]

That’s what I did. I’m 32. Rather than thirty years for peanuts, I just paid the penalty and cashed out. Helped renovate the kitchen and paid for vacation for the next two years.

32.....explains much.....

 

[AB831]

32.....explains much.....

What does being 32 “explain?”

 

[FedupExpress]

I just looked at Indeed, and the Advance Auto Parts near me is hiring drivers at $11/hr. Judging by the constant rotation of employees in the stores, I doubt the benefits are much to talk about either.

Keep looking, there's a bigger better deal, be patient
I'm doing the same, as my brother says be picky, we are already use to suffering at fdx anyway

 

[Serf]

I get that but if it is like a 401k you’ll pay taxes and a penalty then depending on house hold income could put you in a higher tax bracket for the year. If you find a job first then you can decide what to do based on the new jobs pay. I’ve been unemployed several times companies seem more interested in hiring people who are currently working than not working. That’s how I ended up at fedex was unemployed for 8 months couldn’t even get in the door at most places during Covid. Saw a casual position with fedex and applied thinking it would be temporary two years later I’m still here. But I have had several interviews recently and fairly certain I will get one of them.

You’re not wrong. But I don’t care. I’ll pay the 20% withholding and 10% penalty. If I had to worry about bumping me into the next bracket I’d have a job that was serious enough to not be leaving due to my well compensation.

 

[qdg2]

What does being 32 “explain?”

Being liberal......

University of Maryland.....

Yuck.

The backbone of every blue state disaster.