Today is the day I Retired

quad decade guy

Well-Known Member
I stared working when I was in 4th grade. I had a paper route after school. The summer between 4th and 5th grade I got a job shoveling :censored2: at a mink ranch. That job paid good money for back then. If I recall right I got 6 bucks a day. I also worked for my dad cleaning business machines at his Office supply business after school and during the summers when I got to Jr. High. I also ran a trap line during trapping season in the woods and ponds behind my house in 5th and 6th grade. That got me 25 cents a muskrat hide. Other than about 3 months when I got out of the service and wanted to raise a little hell I've had some kind of job from 4th grade up until 2 years ago when I retired from my township job. That's 61 years of work . That's enough.

Impressive and admirable. However, you are only a "kid' once....
 

Jones

fILE A GRIEVE!
Staff member
Social security is not a easy number to figure out especially if you have a spouse.
Every year you went to collect you get about an 8% increase but on the other hand how long are you going live?
Their actuaries have it calculated that you'll end up collecting the same amount regardless of when you choose to take it, but that's based on average lifespans. If you take it later you're betting you can beat their predictions on how long you got.
 
Their actuaries have it calculated that you'll end up collecting the same amount regardless of when you choose to take it, but that's based on average lifespans. If you take it later you're betting you can beat their predictions on how long you got.
This is not your life expectancy but it's also how long your spouse is going to live
No easy answer my friend
 

Jones

fILE A GRIEVE!
Staff member
This is not your life expectancy but it's also how long your spouse is going to live
No easy answer my friend
The spousal benefit formula is a little complicated, but there are calculators that can help you figure it out. At the end of the day though you're just making your best guess, you could be in excellent health and still get hit by a car.
 

olroadbeech

Happy Verified UPSer
I stared working when I was in 4th grade. I had a paper route after school. The summer between 4th and 5th grade I got a job shoveling :censored2: at a mink ranch. That job paid good money for back then. If I recall right I got 6 bucks a day. I also worked for my dad cleaning business machines at his Office supply business after school and during the summers when I got to Jr. High. I also ran a trap line during trapping season in the woods and ponds behind my house in 5th and 6th grade. That got me 25 cents a muskrat hide. Other than about 3 months when I got out of the service and wanted to raise a little hell I've had some kind of job from 4th grade up until 2 years ago when I retired from my township job. That's 61 years of work . That's enough.
ha...my first job was babysitting. maybe 2 dollars for the whole time. then got a real job cutting grass for $1 an hour when I was 12. that money paid for a lot of stuff. Beatles records, movies, bowling etc.

Got my own apartment when 18 washing dishes for $2.25 an hour. First big money job was $5 an hour driving truck. Got married and had kids with that money.

Now it seems you have to make 100 grand a year just to make it.
 

olroadbeech

Happy Verified UPSer
As far as I know its still 62 1/2 if you want to collect early--- but everyone now should wait until at least 70 to apply so its still there for me.
it takes 18 years to break even between 62 and 67 difference. I took it at 62 so I can invest and do better than ol uncle sam with my money.
 

Over70irregs

Well-Known Member
Let's review. I started at 18 yo. Went full time at 19 yo. I now have 39 years and counting. Our conference has 25,30,35 and out etc. What that means: 25 & out must be 57 or incur a $500 per month penalty-$2500(before taxes)-$2500-500=$2000(before taxes)(cannot BUY insurance until 57). Sound good? My conference only provides the opportunity to BUY private insurance. I have lived an average life, I believe. My Dad became disabled when I was 7, he never worked again. My Mom was the earner and had a decent not great job and did very well for a blue collar woman through the 70's and 80's. I didn't miss a meal and actually lived somewhat comfortably. My Mom deserves a Medal for grit and courage. So, what that means is that I didn't get much help saving to buy a house etc. or from GrandPa etc. My life has been pretty average. Still married after 30 years and 1 child. My wife stayed home until my child started public school. My wife works at a public school as a secretary and therefore doesn't make a whole lot etc. What does all that mean? I'd say we are pretty average for blue collar America.

Why am I still at UPS? Up until maybe 2 years ago(really even now), we were still feeling the effects of having a child: helped them(her, husband) buy a house, sold them my paid off truck at a criminal discount, paid for my kid's college etc. I do these things because I wanted my kid to have it better than I did and to give back. I am not complaining.

In my late 50's now and just now can breathe and have us time. I have a sleeper run and swimming in extra money(see above). It truly is wondrous. I feel calm even amidst all that is going on. IF everything that has been promised and earned comes to pass, I will live financially comfortable until death. My plan is to retire at 67 and draw SS and Medicare and my pension. Bad planning, masochistic? IDK. To me, it's been what everyone that I've ever known has done. Very few exceptions.

Why am I still at UPS? Money and benefits. I stand to make a couple million before retirement(as of now). We'll see. I'm not ready to take a $7k pay cut every month(approximate). If I quit, I'll have to work or drastically change my lifestyle. I LIKE having nice things and my hobbies.

Anyway, that's how it is.
Calling his own corner pocket shot. Perspective.
 

UpstateNYUPSer(Ret)

Well-Known Member
The spousal benefit formula is a little complicated, but there are calculators that can help you figure it out. At the end of the day though you're just making your best guess, you could be in excellent health and still get hit by a car.

I am going to look in to taking the spousal benefit. My ex is an RN who is still working FT so her projected monthly benefit should be higher than mine. I am only 59 so a lot can change between now and then. My current plan is to wait until I turn 67 but I may start at 62 and invest the monthly payment. I plan to make an appt and sit down with a SS clerk to check out my options. Spousal benefit does not impact the monthly benefit of the spouse.
 
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