Received Financial Windfall. Would You Consider Early Retirement?

[anonymous6]

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?

 

[klein]

Retire and go for it ! You only live once ! Do some travelling, enjoy life !

 

[moreluck]

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?

Will you have sufficient Medical coverage. If you won't, your windfall will disappear fast!

 

[rod]

#1---the amount you have available
#2-- the amount you need to maintain what you consider a normal life style



It isn't rocket science-------if #1 is more than #2 then go for it.

 

[Catatonic]

Working another 5 years?

 

[DorkHead]

I would work the final 5 yrs. Who knows what can happen in the next 5. The financial windfall will always be there.

 

[anonymous6]

Will you have sufficient Medical coverage. If you won't, your windfall will disappear fast!

won't i still have med coverage with early retirement? I know I have topay so much a month. med bennies are a big thing for us.

 

[MC4YOU2]

won't i still have med coverage with early retirement? I know I have topay so much a month. med bennies are a big thing for us.

I think it depends on how early. Are you "locked in" to your plan? In other words, if you leave now are you still going to collect your pension at some point? Not possible in Western Conference unless you are locked, and just wanting to leave and will just wait until your age without additional years of service qualifies you.

One thing is certain; it will get more expensive the older you get. If you were planning on some other income producing activity (part time job?) along with your pension at reg ret age, maybe you could do it. It must be tempting though!

 

[paidover95]

Retire!!!Enjoy yourself, and make up time with people whom you have lost time with DUE TO EXCESSIVE FORCED HOURS!!!!!!!

 

[UpstateNYUPSer(Ret)]

Put the windfall in to the hands of your financial advisor, work the final five years while planning for an even more enjoyable retirement.

 

[menotyou]

I would work until it gets closer to 2013, at least. Take the temperature of the company then. If a strike appears imminent, retire before. If not, continue for your full 30. This is dependent on your pension fund not changing the rules, which they did here. You put so much time into this career. The full retirement would make your life much easier. Good luck to you whatever you decide.

 

[toonertoo]

Get off the PC, live now, worry later.

 

[over9five]

Stay at work, but use some of the money for:

BROWN CAFE CRUISE II

 

[menotyou]

I want a ticket to ride!!

 

[browndevil]

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?

Are you sure it wasn't your twin and his wife?

 

[over9five]

Are you sure it wasn't your twin and his wife?

Or worse, your twin and your wife??!

 

[menotyou]

Or worse, your twin and your wife??!

You have been watching too many Matlocks!!! LOL!!

 

[rod]

Actually if you know you are financially covered for the rest of your life you may want to consider working a little longer. Just do it on your terms - not theirs. Imagine the fun you could have if you knew that being fired wasn't a big deal. All the pressure to keep them off your back would disappear and you could go about your day at your leisure. Call in sick a couple days a week, ask for an 8 hour dispatch every day, go on comp, bring back what you don't feel like delivering, post irrelevant youtube videos ---heck the choises are endless. You could drive them nuts.

 

[Nimnim]

Actually if you know you are financially covered for the rest of your life you may want to consider working a little longer. Just do it on your terms - not theirs. Imagine the fun you could have if you knew that being fired wasn't a big deal. All the pressure to keep them off your back would disappear and you could go about your day at your leisure. Call in sick a couple days a week, ask for an 8 hour dispatch every day, go on comp, bring back what you don't feel like delivering, post irrelevant youtube videos ---heck the choises are endless. You could drive them nuts.

I'd normally agree with this kinda mentality, heck it sounds quite fun, but think of the customers that would potentially suffer more.

Sign a porter bid then raise some hell.

 

[klein]

Quit, mid November, just before rush !
Enjoy a nice xmas for a change !