Take a peek at the new Contract before retiring?

[Jkloc420]

Good luck, I’ve had to give a few depositions, met at the UPS Attorneys office with a union lawyer. Lots of thousand dollar suits attractive women and marble everywhere. UPS spends the big bucks on lawyers.

Yes and I'm white

 

[quad decade guy]

..............So you didn't graduate top of your class at MIT?

Nope.

Never said so.....

Just another bullying tactic. I mean, you know......

 

[quad decade guy]

There is no right or wrong answer....it depends entirely on your circumstances and longevity. If you will only have Social Security to retire on, you will need to wait until your full retirement age. In my case, my Mom never made it to 60 and my Dad died at 72 (began drawing at 62). You do take a hit by drawing at 62, but you also get COLA that will help. If you retire at 62 and draw $1500 per month, you'll have well over $90,000 by the time you're 67. If you wait till 67 to draw and die six months later, you lose. This is without even calculating the time value of money (a dollar today is worth more than a dollar five years from now)

Well, we are all set. My financial guy has said I'm too young to retire right now....in my strongest earning years. It is true, if you look at our(wife/Me) steady wage growth. We have a wild card in my wife's health......no man has lived past 72 in my family. My Dad died at 57. Most women on my Mom's side live well into their 90's if they didn't smoke. Most of the people in my family that die early, lived hard lives and bad choices.

BTW, I looked the other day.....$2000+ for SSI for me so far.

Insurance is holding me here for now. A chemo treatment is $13k per pop.

 

[burrheadd]

Well, we are all set. My financial guy has said I'm too young to retire right now....i

Lol… what age is he telling you it’s ok to retire? I went at 55 don’t think it was to early
What is it you’re all set at?

 

[UnionStrong]

Lol… what age is he telling you it’s ok to retire? I went at 55 don’t think it was to early
What is it you’re all set at?

He’s already 60 he said in another post.

 

[burrheadd]

He’s already 60 he said in another post.

SMH

 

[BrownFlush]

I turning 62 pretty quick , but going to try to hold off taking SS as long as i can. My dad is over 90 and he says taking it early was the biggest financial mistake he ever made, of course i may croak at 64. It's a crapshoot,

Your break even age if you take it at 62 versus 67 is 78.
Average age of death for a man is 76.
It wasn't hard for me to figure.

 

[BrownFlush]

I was just listening to a financial program on that subject.
He advised instead of taking your social security at 62 was to take a little bit of money out of your 401K plan and let your social security grow.
And also your RMD would be smaller down the line

If you take the SS at 62, take the money and invest it and grow how you choose if you don't want to spend it.
You're in control. A blind squirrel can make more money with money than the government.
401K? Whatever!

 

[BrownFlush]

Sure, but if the goal is to collect and have as much as possible, you have to gamble on your mortality.

There is no gamble for me.
I know I'm going to die. I know I can't take it with me.
I am spending it all.

 

[Johney]

Lol… what age is he telling you it’s ok to retire?

My guess is 67? If he takes that advice he'll have 5 whole years of retirement. According to his family tree. SMH. Strongest earning years??? If he stays working that will never go away.
There is no hope for this guy.
Sigh.

 

[UnionStrong]

My guess is 67? If he takes that advice he'll have 5 whole years of retirement. According to his family tree. SMH. Strongest earning years??? If he stays working that will never go away.
There is no hope for this guy.
Sigh.

He doesn’t make any sense. He’s full of .

 

[Jones]

The only reason for a financial advisor to tell a 60-year-old truck driver that he needs to keep working is that he literally can't afford to retire. Probably tried to sugarcoat the hard truth with that line about "strongest earning years".

 

[oldngray]

The only reason for a financial advisor to tell a 60-year-old truck driver that he needs to keep working is that he literally can't afford to retire. Probably tried to sugarcoat the hard truth with that line about "strongest earning years".

or the advisor is trying to generate some churn to pad his commissions

 

[Jones]

or the advisor is trying to generate some churn to pad his commissions

Shades of Edward Jones...

 

[728ups]

Insurance is holding me here for now. A chemo treatment is $13k per pop.

Retiree Insurance is every bit as good as Active Participant Insurance. Just Sayin

 

[oldngray]

Retiree Insurance is every bit as good as Active Participant Insurance. Just Sayin

Depends on the local. Most are really close but slightly worse. Still a lot better than the open market.

 

[IVE GOTTA PACKAGE 4U]

Depends on the local. Most are really close but slightly worse. Still a lot better than the open market.

Some locals don't have any retiree health care.
That's one reason why you might want to stay longer
Some pension plans don't pay out a whole lot either.
Nothing consistent at this place

 

[UnionStrong]

Depends on the local. Most are really close but slightly worse. Still a lot better than the open market.

Certainly not enough to keep a wealthy guy like him from retirement….His last post had a distinctly fraudulent ring to it.

 

[UnionStrong]

Some locals don't have any retiree health care.
That's one reason why you might want to stay longer
Some pension plans don't pay out a whole lot either.
Nothing consistent at this place

Possibly

 

[IVE GOTTA PACKAGE 4U]

Possibly

It's the truth