retiring after 25 years

Discussion in 'Life After Brown' started by upsman north georgia, Feb 28, 2015.

  1. anybody that has retired after 25 or 26 years or anybody that you know has done this ? I have been thinking of leaving and sacrificing the additional pension at 30 . I want out in one piece.
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    That is no longer an option in Upstate NY.
  3. ZQXC

    ZQXC Guest

    What is your age?
  4. Thanks, we are in the ups-teamster fund out of central states as of of 2008
  5. 47
  6. Harry Manback

    Harry Manback Robot Extraordinaire

    It'll be a decade before you can buy health insurance from the union. If you have an option for healthcare, it's worth looking at. I'm also considering early retirement.

    Looking at 31 and out. I'll be 50. 6 yrs p/t and 25 f/t. By my guess, it should bring about $2800 a month before penalties. Add that with my 401k and, I'm hoping it should give me some breathing room to reinvent myself.

    Keep us posted on how your situation develops. I'm particularly interested since I'm located just north of you.
  7. Indecisi0n

    Indecisi0n Well-Known Member

    I get back to you in 20 years.
  8. Healthcare is the issue with that said I have rentals homes that I would depend on for most of my income and owner financed properties that I monthly income from. I could by my insurance under the rental business and would be an additional tax write off as business expense. Life is to short to be over worked and stressed daily. Where are you?
  9. Harry Manback

    Harry Manback Robot Extraordinaire

    South Carolina. Life is indeed, too short. I don't want to give any more of mine to this company than I have to.
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  10. I will keep you posted .I enjoy communicating with my fellow upsers .I know what they go through daily.I guess you are under central states? All the new people from this contract that entered into central states can get there health care at 52 after 25 years and for me it would be 55 .This is something the union come up with a double standard, nobody is on our side!
  11. Jones

    Jones fILE A GRIEVE! Staff Member

    One thing I've noticed is that we all worry (me included) about having having enough money to retire, but I've never met a retired person who wished they had stuck around longer for more money. I've talked to quite a few guys who retired early and right up to the day they were all worried about money, going over the numbers again and again, talk to them a month later and they don't have a care in the world all smiling and happy. Soon as I hit 25 I'm gone jack.
  12. You are right, money does not buy happiness!
  13. rod

    rod retired and happy

    We have had a couple of guys who retired who weren't prepared financially for it. They now both work another full time job (trucking) to keep up with their bills. There is nothing wrong with working a fun gig a few hours a week but a person shouldn't quit UPS just to work 40-50 hours a week elsewhere---especially at another trucking job.
  14. Jones

    Jones fILE A GRIEVE! Staff Member

    Yeah but some people will never be prepared right? Usually it's folks who just aren't good with money for whatever reason.
  15. rod

    rod retired and happy

    I would agree with that. One of the guys who I mentioned just had his house go into for closure. He owes more on it now than he did 16 years ago---but he always drives a new decked out 4 X 4 pickup.
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  16. Rainman

    Rainman Its all good.

    If you leave and have to get another job in the future, it will be easier the younger you are. It sounds like you have prepared yourself quite well. There was a guy in our building who retired at 43 with 25 years service, just him and his wife, no kids. I don't think he ever regretted his decision. Like you said, no one I've ever heard of has ever regretted retiring. Good luck and I hope it works out for you.
  17. yeah ! I know guys like that.They work paycheck to paycheck.Cannot take a day off without pay.
  18. O/C

    O/C Member

    The IBT/UPS plan provides a 25 and out provision, health and welfare is at age 55 unless you have 30 in.

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  19. Harry Manback

    Harry Manback Robot Extraordinaire

    Probably some supplemental language involved there.

    In the Atlantic Area supplement, you'll have to be 62 to retire to get your max $3700 per month pension.

    Pretty bleak outlook for a driver with no aspiration to go feeder.
  20. Areyoukiddinme

    Areyoukiddinme best 2 weeks ever

    hey, north GA i guess it depends on your stats..your health,age,how much money you need,how much you will receive from your pension before and after you do your 30.
    the way i got out was i found out what i would be getting from my pension(after taxes) then my wife and i did a dry run for 3 months using only the same amount and it all worked of luck
    ps. i was very anxious about leaving but it one of the best decisions i ever made:)