Why should one retire from UPS?

Discussion in 'UPS Discussions' started by Hoaxster, Dec 5, 2009.

  1. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    I just turned 55 so I am eligible for early retirement (with a 15% penalty).
    At UPS, management is taught to anlyze and do financial analysis. That is working against UPS now because people do simple cost/benefit analysis of retiring now versus working until 60 or later.

    A management person with 35 years of service

    1) Get away from the pressure
    2) Difference in take home pay versus Pension pay is not too great (probably 40% less)

    1) Take a 3% penalty per year before age 60 (why incur a penalty if you want people to leave)
    2) The National debt is going out of site (just like in the 60's and early 70's) and the logical way to retire the National debt is to "let" inflation go up. Since UPS pension is not COLA based, a few years of excessive inflation will erode your buying power to 50% or less.
    3) What do you do in retirement? I guess one adjusts but it is a bit scary to me not to have job type responsibilities but I am beginning to warm up to that aspect.

    This was therapeutic in a way as I try to make this decision myself.

    I know the differences are even greater if one does not have 35 years in.

    Please provide feedback from your perspective (Union vs Non-Union, ---- 15 yrs vs 25 yrs vs 35 yrs ---- Already retired vs Looking to retire)
  2. bumped

    bumped Well-Known Member

    I for one can't wait to retire, but the problem is I have a long way to go. My plan, if all goes right would be to take care of my grandkids during the day at least 3 times a week. That would give me more than enough to do. I'd love to be a stay at home dad.
  3. Kraetos

    Kraetos Preload, Loader

    Just play computer games all day, easy.
  4. You can always get a much easier part time job, just to stay active.
    I know some guys that work at Lowe's, Home Depot.
    I guess the key is not working for some power hungry jerk
  5. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    You mean they don't have those at THD and Lowe's?

    That's coincidental,
    I was looking at Lowes and THD as options since I am not ready to quit working.
  6. That's the problem. They're everywhere, well except here at UPS:wink2:

    You could travel the world in a 150 foot yacht, I suppose.....
  7. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    Only if I hired on as a hand.
  8. I once knew a guy that worked on a merchant ship as a "Wiper". His job was to wipe up oil spills in the engine room
  9. over9five

    over9five Moderator Staff Member

    Wow, what a huge decision Hoax. Literally life altering.

    I can't help you decide, but if you do retire the best thing you can do is KEEP BUSY!!!! I would have to work p/t somewhere. There is just no way I could just stop working.

    Good luck!
  10. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    That's comparable taking care of 3 grand kids I guess ... taking care of spills. :wink2:
  11. 1989

    1989 Well-Known Member

    At what size does a boat become a yacht?
  12. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    At the size I can't afford.
    What is the longest rowboat?
  13. 1989

    1989 Well-Known Member

  14. whiskey

    whiskey New Member

    The fact that you are researching the idea is significant. If there is a legitimate window of opportunity, you would be wise to seize the opportunity. With retirement comes a rediscovery of self and an explosion of creativity. Any fear subsides rather quickly. Rebirth may be the right term.
  15. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    Please sit down and don't rock the rowboat.
  16. 1989

    1989 Well-Known Member

    You have a good point there....I used to think a yacht was over 80-90 feet. Never put affordability into the mix.
  17. upsgrunt

    upsgrunt Well-Known Member

    That's a great question and would make a great thread.
    Add to it, "when does sod become grass?"
    When does a house become a mansion?
  18. 1989

    1989 Well-Known Member

    When does a job become a career?
  19. soberups

    soberups Pees in the brown Koolaid

    1.You only live once.

    2.No one ever laid on their deathbed and wished that they had spent more time at work.

    3. Money isnt everything. I have never seen a U-Haul truck following a hearse.

    I am leaving the first day that I am eligible...Feb. 27th of 2017. I will be 50 yrs old and have 30 yrs in. My plan is to go onto my wife's medical insurance for 5 yrs until I can enroll in the Teamster retiree plan at age 55. To supplement my pension I will either own and operate a tow truck, or I will drive a school bus. My uncle does that; he really enjoys it because he gets summers off and when the weather is good he gets up at 5:00 AM, runs his bus route, and then spends the middle of the day playing golf until its time for the afternoon run.

    My goal is for my pension to be able to support my wife and I, and then anything we earn beyond that will pay for vacations, toys etc. We will probably downsize into a smaller home. We both like the idea of living a $50,000 per year lifestyle on an $80,000 budget and not the other way around.
  20. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    Still be able to afford those Elk hunting trips? Have to prioritize!