I've decided to retire.

[hamsterjill]

Long story, but I’ve been working a crappy job
for the past three and a half years (after a 20 year span with a business that closed). The one appealing thing has been that we work from home.

The company is now requiring us to go back in to the office several days a week, which will mean sitting in traffic about two and half hours per day.

I’m six months out from my full retirement age, but I think I’m just done. I’m signing up for Social Security this week, and then plan to leave the end of the month.

Just putting this down in print feels so liberating. I’m excited. Give me your DU wisdom.

[Voltaire2]

1. Six months is a small hit to your benefits.

You’ve made the right choice.

[Omaha Steve]

53. 7%

Does seem like a small mount.

K&R!

[Voltaire2]

83. its actually 3 1/3 %

The calculation is (5/9 x 0.01) x (number of months). Each month short of FRA costs you 5/9 of 1% of your FRA benefit.

[Omaha Steve]

86. I stand corrected

[SheltieLover]

2. Congrats!

[Mister Ed]

3. Good choice. There's not much dollar difference between retiring now and retiring six months from now.

As I approached full retirement age, I created a spreadsheet comparing my income over time if I retired right then, or waited. There wasn't really a huge difference in net lifetime benefits unless I lived far into my 90's. Will I even live that long? Hard to say.

I had this discussion last week with a friend, who insists he's holding out until full retirement age no matter what. He kept repeating that waiting until then would get him an extra forty dollars a month in benefits. I couldn't seem to impress upon him that, yes, he'd be getting forty dollars more per month - but for eighteen fewer months.

[avebury]

8. Exactly what I did

I was constantly running the numbers. I was lucky that I could still slide into full social security. I filled for SS and then retired five months later.

I originally planed on staying one more year. I finally decided to heck with it, one more year was not going to add that much to my retirement check. My SS and and retirement check was just about equal this my pau check. At that point it was not worth staying.

[3Hotdogs]

92. ---and keep in mind, the tax to be taken out of that 3 1/3%.

[Freddie]

4. I did a spreadsheet

Calculating how much total $ I would get retiring at 64 versus full age. It would take me til age 85 to catch up. Most people don’t think about this and care more about the higher monthly check.

[underpants]

6. I'm about 10 years away. My wife about 7

I need to start learning up on how to manage SS. I need to find some good info on techniques/tricks to maximize ours.

[avebury]

11. Having talked with other

retirees while doing my planning I saw the wisdom in doing the voluntary payment of Federal Taxes. I know people who got nailed for not preparing.

The first year you retire is the hardest in terms of taxes because you have a mixture of work and retirement pay (unless you retiree at the end of the year). Then it should smooth out.

[COL Mustard]

51. Tip #1:

DON'T apply for benefits before full retirement age if you're still working. The reductions are severe.

Tip #2: Talk to your local SS office. They are very helpful and professional and can walk you through any situations.

Tip #3: Make sure you account for tax withholding. Otherwise you may get a nasty surprise.

Tip #4: Talk to a professional. I'm a layperson at this stuff and just going through it myself, so of course YMMV.

[underpants]

76. Thanks.

I’ve got a pension too. I’m not sure if the recent legislation would have applied to me but I guess I don’t have to worry about that now.

For years reading about whatever popped in my head I kept thinking - I should really learn about buying a house. Suddenly a few years ago we HAD to buy a house or find another rental. We had a whole house for really cheap. Luckily we got a great real estate agent via a friend.

Taking your advice.

[Auggie]

26. What about inflation? That's why I'm waiting until age 70.

[jimfields33]

73. I'm going to as well. I know some think it's dumb. But it 1200 dollars difference between 62 and 70.

[Auggie]

81. It's about $550 to me ...

at 67 1/2. That extra $550 will cover Medicare, MediGap and Plan D, plus my yearly deductible, hopefully even with inflated premiums.

It's incredibly myopic to think today's expenditures will be the same as tomorrow's. Corporations and private equity are moving into the skilled nursing and memory care business too. They have one goal: return for their shareholders at the expense of senior care. I've see some of their facilities. They're abhorrent.

[ProfessorGAC]

87. It Was Significant For Me...

...but I retired early anyway.
Other retirement savings were significant enough to make that (6 years ago) $900/month only a 6% hit.
Besides, with my dad dying at 69, mom at 75, both grandmas at 59, I figured money know was more valuable than money later.

[homegirl]

96. I took mine at

62! I worked my own from home small business and paid both sides (12%) until mid 2024. Now I am approaching 90 and still collecting. I bet on longevity and I won...

[ProfessorGAC]

97. Same Age, Here

My math said that taking it around 65 months early, meant ud get paid enough that the delta required me to live 14 years past full retirement age before I'd be at breakeven.
As I said in my other post, if I make it 80, I'll be in a small minority of both sides of the family that lived that long.
So if genetics hold, I would never break even.
I took it early because of that.

[homegirl]

98. I recently learned

of an ancestor who died in England in 1710 at 109!

You made the right decision...

[Voltaire2]

103. I retired the day I hit 70.

The last five years of work were me just trying to act like I cared.

[BonnieJW]

104. Don't wait if you hate your job.

My husband retired at 67 after 42 years with the same company. He died at 70. Only 3 years to enjoy retirement. If you can afford it, don't wait

[avebury]

5. You will love being retired.

I retired at the end of April 2024 and do not miss it at all. I worked for a state agency and a were hybrid teleworking/in office when I left. The Governor recently issued an Executive Order requiring everybody go full time in office by Feb. 1st. My mantra has been I am so glad I retired.

The Governor gave no advanced warning to agencies before he issued the EO leaving agencies scrambling to figure out how to comply. You have to get a waiver from senior staff to get an exemption to the order.

[Wounded Bear]

7. Good luck to you! In a similar situation as you a few years back...

but I did in on my 62nd birthday. Like you, was laid off from a long term job a few years before. Lived on my severence for a while but was forced to take up shit jobs just to get by. Got tired of trying to compete with 20-30 year olds, so I called it quits. I've done OK so far.

Best of luck to you!

[Drum]

9. Same

[The Madcap]

27. I'm about five months from 62

I might go one more year so I can have all debts paid off from job income rather than SS/IRA money. In the end, it's probably going to come down to whether I hate my job more or less at 62.

Health insurance will also be a big driver.

[multigraincracker]

49. I retired at age 52 and that was 23 years ago.

The key to my early retirement was and is to carry zero debt.
I have a couple of hobbies that make me some money and I love doing them. Saving money is my hobby. I shop three diff grocery stores looking for the best prices. But about 90% of my clothes at yard sales and resale stores. Can’t wait for warm weather and two to three days a week of hitting those sales. Wake up a 6:00 am and on the road by at least 7:00. Being the first at a sale is one of keys to finding treasures. I resale on eBay and FB marketplace. I bought a 14K gold mans watch for a dollar. Was in a box full of watches marked a dollar each. Bought a new band for $14 and sold it on eBay for $400 in less than a day.
Find a fun hobby that pays and you’ll have a great time.

[The Madcap]

52. Thanks

Yes...mortgage will be done in about 12-14 months, and maybe sooner if everything works out. Other debt will be done much sooner. Once it's all gone, retirement becomes a real option. Maybe then I can have the time to paint some of our rooms again.

[wolfie001]

106. Wow! Good for you!

I retired a year ago a few months shy of 64 and I'm learning so much about cooking at home. It's a game changer. Tasty meals and I shop 3 times a month. So far, so good. Medicare starts for me Feb. 1st. Cheers

[multigraincracker]

107. I love to cook. Wife works so I do that, dishes and vacuuming.

First thing to do is, slow down. No reason to hurry. Just leave early.

[wolfie001]

116. Good man doing good things

Way to go brother!

[Paladin]

10. Go for it. Best of luck. (nt)

[JT45242]

12. The peace of mind will be worth it

I haven't had a commute like that in 30 years (had one year of a 65 minute commute most days...could be 150 minutes on a Friday if I didn't get out on time).

Your sanity is worth the few bucks difference.

I've done the math and will not work past 65...the extra few bucks not worth the stress of the job.

Glad you did the math first.

Congratulations!

[Magoo48]

13. Good on ya. I doubt you'll ever regret your decision.

[chouchou]

14. Here in Florida, a decent share of the people who have lived in Florida ...

...have started to retire earlier than they planned ..like yourself. The main reason? Developers.
Since Florida has turned into a deep red state, the politicians LOVE-THEM-DEVELOPERS. The developers channel lots
of money into the campaign of the republicans, which the politicians change the laws, regarding roads, wildlife and such.
(I'm getting to the point) Years ago I, and other people use to have a 25 minute trip to work and same time coming home.
Now..it's a nightmare. 85-100 minutes for some people.
When I figured out the time I sat in #$%@# Traffic, I decided to retire. >> I was sitting in traffic around 350 -500 hours a year.
Which brings the scientific formula to light>>>> "Fuck that shit"

[Kali999]

15. Congratulations

Jump off that wheel. Welcome to retirement. It's great, even semi broke.

[Kali999]

16. releaved

to no longer drive in crappy weather to work.

[erronis]

17. I've retired from three jobs since I turned 65. Then went back to work, retired, back, retired...

And thinking of finding a new job at 77. I miss the challenges and the interactions. And, of course, I miss the cash flow.

[Trueblue Texan]

24. I really worried that I would miss patient care after I retired...

...imagine my surprise to learn I don't miss it even ONE TINY BIT!!! My days are FULL of stuff I love to do! I bake bread, I cook vegan food, I work on my book, I dance, I volunteer for the party, I HAVE parties, I garden, I keep house, I have lunch and dinner with friends, I go to lots and lots of estate sales. It is the most joyful life...outside of politics, that is. I highly recommend retirement.

[biophile]

35. You described my life in retirement too!

I wish this for everyone!
Except MAGA, of course, because clearly they vote against it

[LSparkle]

18. Right behind you

Probably doing the same in June. Have done the math and after November’s election result, I need to focus my energy on surviving the next 4 years and not wasting it on corporate bullshit.

[DownriverDem]

19. Do what you think is best for you.

I retired in 2019. I waited and now get 16% more in my monthly check. A lot has changed since 2019 so I don't blame you for retiring now.

[Bluethroughu]

20. Yes!!! Enjoy the peace!

[70sEraVet]

21. I understand the practicality of using spreadsheets to determine.....

the best time to retire based on Social Security earnings. But what always seems to get left out of the equation, is, what can you DO with all of extra time you will have at your disposal? Pursue a hobby that you never had time for? Learn to do some simple home repairs and maintenance that you always had to pay other people to do? Do some volunteer work that provides a level of personal satisfaction that your job never gave you?
I think it's very important to consider what you will be retiring TO, not just what you are retiring FROM!
Best of luck!

[Trueblue Texan]

22. That's what I did...

...that last six months stretch seemed like 10 years looming ahead of me. But instead of applying for my SS early, we took some money out of retirement funds and lived on it for the last six months. You have to do the math and figure out what will be the least financial hit against you. If the math doesn't work in your favor either way, just DO IT! Life is too short to be miserable. I worried we would struggle without my income, but it turns out, we haven't struggled one bit. I was delightfully surprised.

[dickthegrouch]

23. Medicare premiums are deducted from the SS check

And if you earned more than a certain amount, there’s a surcharge called IRMAA that you have to pay. The SSA used income info from 2022 when I finally called it quits in October 2024, after being layed off in July. That meant my income for 2024 was only 7/12 of 2022. However there’s a way to get the premiums and IRMAA reduced if that’s happening to you.
Also be aware that they pay a month in arrears (your January check will arrive sometime in February).
Benefits are taxed so make sure you save some for that.
Understand particularly how you’re going to pay for any dental care you might need.
I created a huge spreadsheet of all my fixed and variable expenses and sources of income to understand how long I can survive financially. Many 401k and financial consultants will help you do that for free.
I forgot to include any form of interest on my investments and was scared stiff because it looked like I only had 12 years worth of funds. A talk with the retirement specialist at the bank cleared that up very quickly.
I don’t know how I had time for work! I actually spent some time with a mental health professional preparing and got some excellent ideas and feedback.
My biggest challenge was/is expected loneliness and the lack of stimulating conversations that were a constant feature of my job. But I’ve returned to several hobbies after many years of not having time for them.
The senior center is a fantastic resource locally, I hope yours is too.
Best wishes

[Bengus81]

25. Congrats!! And everyday will be Saturday from this point on.....

But...you will get screwed up every so often on what day of the week it is. Wheeee......

[claudette]

31. My thought exactly!

[kozar]

28. Find a time consuming hobby

Retirement felt great, for about a month.
Then I was restless, my brain didn't have to engage everyday, I didnt need to physically, move, but MrsK and LilBit kept me active, but, not at the level my brain was used to.
Just have something in place, to keep going forward.
The first month of retirement, is just a vacation, from your job.
Months 2 thru 6? Crap gets real.

Koz

[hamsterjill]

33. Thanks Kozar.

I totally agree.

About a year ago, I moved out of the city and built a cat sanctuary. I’d been in rescue for about forty years and we took all of the cats that we had left in foster homes, TNR colonies, etc. and brought them all out to the property. They live in a large, secure enclosure that is attached to a building that is heated and cooled. It was a dream come true.

Part of my desire to stop working is to be able to pay full attention to these babies and this project. The last year with a full time job has made me feel guilty many times for not being able to take (what my standard is!!!) proper care and attention for them.

Yes, everyone needs a passion and a way to contribute. I’m hoping that the additional time I have will allow me to concentrate on some fundraising as we are a valid and existing 501(c)(3).

[3catwoman3]

79. That sounds purrfect.

I hope you will tell us many stories about this next phase of your life.

[NJCher]

101. you gotta' know

everyone on DU will love you for this, chiefly ME!!!!

[XanaDUer2]

102. I'm so happy for you

[infullview]

29. Get it while you still can

You may find you have less time on your hands than when you worked for a living. I have a daughter and an X wife who seem to think I’m a deadbeat with nothing to do so they constantly ask me to work on projects for them. The end result is just like a full time job without the pay, and muscle aches and pains of manual labor.

[Skittles]

109. tell them no

just an idea

[claudette]

30. As one who

retired early, I say "Hooray!" to you! The small amount of $$ lost by retiring early is certainly worth it.

[2naSalit]

32. Congrats!

You'll be glad you made the choice to do it, the small personal freedoms add up and make your days brighter.

Good luck!

[Ocelot II]

34. You'll be glad you did.

I retired earlier than I had expected because following a merger my employer moved my job to a distant city I very much didn't want to live in. I took the severance package that was offered to the (many) employees who were close to retirement age and didn't want to move, which somewhat made up for the reduced SS payments, and it worked out just fine. Not long after my last day we got a fair amount of snow. I got up that morning, looked out the window and went back to bed, relishing the knowledge that I was never going to have to commute to work in a snowstorm again.

Congratulations.

[Americanme]

36. I retired at age 61

September 1, 2023. Started drawing social security at age 62. I will be 63 in a few weeks. I had planned on staying at my job until I hit 40 years, but the company announced a lot of changes, none of which I liked. So I retired with a little over 37 years seniority. I have no regrets. We spent way too much money the first year, but we did a lot of things we had been putting off. I am about to start a part time job. We are getting by, but a little extra cash never hurts. And the part time job will involve no commute, no on-call, no callouts in the middle of the night, no regulations to worry about, very little responsibility. I am very happy to be retired, I hope you will be too.

[bronxiteforever]

37. I retired early than I planned

2 years before the pandemic hit. The pandemic reaffirmed my decision.
I joined a food bank as a volunteer, sit as a charity trustee and go to a study group once a week.
I am fortunate to have grandkids a block away and I am watching them grow.

Whatever time we have on this planet is a gift and I decided I didn’t want to spend that gift in traffic, meetings, supervising people anymore. Could have made life a little more comfortable with working a couple of years longer but then I would have missed some great life experiences.

I travel to close by states for a shot of the ocean and wildlife. I don’t travel abroad unlike the rest of my family. I have had horrendous flying experiences and don’t want to feel like I am in a cattle car again.

All this is very personal and so should your decisions be likewise. One universal is your time is precious to you and those who love you. We should value it wisely. I learned too late but I am catching up. Good luck and bless you in the rest of your life whatever you choose.

[indigoth]

38. I've done this

Just recently.

Sort off.

I like my job. 20 minute commute is ok. I’m old enough so I can still continue working and, at the same time, rec’ve full SSI benefits and my wages won’t affect the monthly benefit. This will increase my monthly $ by 80%. I wont be living paycheck to paycheck … finally.

[bullimiami]

39. Opposite situation. I'm 65 but job is too good to leave right now.

Guess I’m in for at least another year or 2 unless they kick me out before.

[LakeArenal]

40. Woo hoo. We are living the dream retired. Hope you do too.

Due to the Bush housing crash, I was forced to take retirement at 62. Yes, indeed I lost a significant monthly benefit loss.

However Mr Lake was fortunate to make it to full retirement age. He took it a few months before because of the small loss he incurred.

Still, we went forward with our dream retirement. Now instead of buying a house we rent. The upside of renting in old age is we will never have to buy the new water heater or fix the plumbing.

The biggest suggestion I will make is downsize. Maybe not like we did, selling everything off in an auction but get rid of most of your “stuff “.

It’s so liberating not paying for space you never touch in years.

We regret a few things but seriously you will miss very little that you think you would.

By selling everything, it gave us the funds to fulfill the big move and the big relocation: leaving us to live on our SS and small annuities.

We started with furnished rentals but over five years we have things that reflect our own taste. Slowly.

Good luck. We found ourselves busier than ever not working. For us: a new life began at retirement.

?si=Ng8y-yRyFaPWsp2F

[rubbersole]

41. Good for you!

Hopefully, you'll wonder how you ever had time for work. The income adjustments are easier to make when your face muscles ache from smiling so much. 😊

[Shermann]

42. Can you fund the six gap months from savings?

Six months won't add significant reduction factors to your SS income, but if it's still a concern that might be an option. If the answer is no, then maybe your savings aren't padded enough for retirement.

Remote work can be quite contentious. It sounds like it is possible for your job to be done remotely, so sudden inflexibility in light of your commute situation is pretty harsh. Some companies have made sweeping policy changes like that and accepted the resulting fallout. It could be new management trying to make waves or perhaps intentional layoffs by attrition. Either way, it isn't something you want to see from your employer.

[Skittles]

89. that was exactly the thought train I had

self-fund until FRA would be best, UNLESS you have very limited savings

[MiHale]

43. Working for others is overrated...

You gotta do it to put food on the table…But now it’s your time, no one else owns it.

Retired now for about 15 years after working for the worst boss in the world…myself.

Enjoy your time.

[Scrivener7]

44. You're going to love it. I'm very happy for you.

[StarryNite]

45. Congratulations!

Stay busy and stay active.

[Ms. Toad]

46. Go for it!

I was involuntarily retired in 2022, when the Dean got kicked back to the classroom. He was pissed at the world and decided to do some damage on the way out. As a contract employee terminated for no reason, he couldn't actually get me out of the building for 6 (short of just paying me for 6 months to twiddle my thumbs. So I choose to retire at 6 months and a few days with full retirement hoopla - before the termination could take effect.

I ran the numbers on both SS and my state pension. If be in my 90s before it would have been financially better for me to keep working.

From the moment I retired. I loved it! I had a lifetime of, "I'll do this when I have time" built up. So I'm more working on a BFA in photography (and an back in the darkroom for the first time in decades), growing heirloom tomatoes from seeds I save each year, acting in musicals twice a year, going on at least one dive trip a year, baking sourdough bread, and getting a full night's sleep every night!

It took me a while to get over the resentment I had about why I retired. But most of the time now when I'm asked about retirement, my answer is an unqualified, "I love it!"

At some point, I might go to work just for fun. I've had a small interest in working at Starbucks, since I've never had a food service job - but it truly would be on the category of, "of I'd like to do this when I have time,"

My spouse, on the other hand, refuses to retire. She doesn't want to sit around watching TV all day (which she would do, except for brief periods when she decides to do some work somewhere, on the spur. of the moment that I need to be involved with). I didn't understand someone who is on several boards, and is involved with charity work not being able to find things to do in retirement. But there you have it.

Enjoy retirement!

[QED]

47. I retired about 2 years ago...I'd planned to work longer.

But...one day driving to work I had a feeling well up inside me that said "I just don't want to do this anymore." I told my principal that I was retiring at the end of the year.

That was it.

I subbed a lot last year, just making sure I did the right thing. I tried subbing again this year and just couldn't do it anymore.

I taught in a high demand subject and yeah, my skills are "needed" but no, I'm done.

[Emile]

48. Sucks being a Wage Slave, congratulations!

[Evolve Dammit]

60. Perfect for 31,000!

[bluescribbler]

50. I retired five years ago. Don't miss it a bit.

Like you, I was working at a miserable job, had a terrible head cold and just before my 69th birthday I said, "I don't want to do this shit anymore." The timing couldn't have been better, as the country shut down for COVID shortly thereafter, and working remotely was not an option. I have to say now that this is the best job I've ever had. I took up the bass guitar and have a lot of fun with it.

[The Madcap]

54. Yes

Bass is a blast.

[3catwoman3]

55. Congratulations!!!

I hope you enjoy yours as much as I have been enjoying mine

I retired on March 31, 2021, not quite a month before my 70th birthday, and 10 weeks shy of 25 years at my final job. I became a nurse practitioner in 1976, after about 18 months of bedside nursing in pediatrics.

For most of my career, I loved my job and worried a lot about missing it after retiring. Being a nurse practitioner wasn't just what I did, it was who I was. For a few reasons, that fear ended up being unfounded:

Reason 1 - EMR, aka electronic medical records. Hate 'em. Supposed to be more efficient - they're not. I was spending 2-3 hours of unpaid time at home getting my documentation completed because I couldn't get it done to my own high standards of clarity and accuracy during the face to face time with a family. Worried moms like it when you look them in the eye rather than focusing on the damn computer screen.

Reason 2 - COVID. Our patient population dropped way down when COVID struck in early 2020, and I got furloughed for 10 weeks. Turned out I didn't miss going to work very much.

Reason 3 - telehealth. Because of reason 2, people didn't want to come in to the office, and the demand for telehealth visits skyrocketed. I don't consider teleheath safe for evaluating acutely ill kids, especially the very young ones. For conversations about behavior, nutrition, sleep problems, potty training and the like, it's adequate. Not for cough with fever, abdominal pain, ear aches, rashes, etc.

Had I worked 10 more weeks, I would have been at my final job for 25 years, which was a goal for several years. For all the above reasons, it wasn't as much fun as it used to be, and 10 more weeks felt like 10 more years. I was ready to go.

The only thing I miss is first time parents, newborns, and young babies. That was always my favorite.

When people ask me what I do now that I'm retired, my sort answer is, "Whatever I want, and not whatever I don't want."

Again, congratulations!

[Lulu KC]

56. When it's over, it's over

Amazing how you can feel that so clearly.

Enjoy, and prepare for some adjusting. I love some things so much about retiring, but it's been more of an adjustment that I imagined, especially because my husband and I retired in close succession and wow--you think you know a person until you're retired together. We're all different. Just give yourself room to adapt.

Personally, I'm not a morning person, and I don't know how on Earth I was ever at my desk, clean, well-groomed, and well-dressed all those years by 8:30 or 9 a.m. with occasional breakfast meetings at 7 a.m. where I had to be coherent and sociable! That has been the biggest surprise--being able to follow my body's directions about when to engage and when not to. Being able to be an introvert when it strikes me instead of always being "on." Even for the last two years, when I was working at home, I had to do a lot of Academy award-winning performances on Zoom. Now I won't book anything before 11 a.m. unless it's a true crisis.

So, whatever your personal preferences--relax into them. You've earned it!

[pandr32]

57. Good for you!

Congratulations and here's to the mental health benefit!

[twodogsbarking]

58. There is an adjustment period. Once you accept that you can do nothing you are really retired.

Take it easy for awhile. Relax dammit.
Retired for seven years.

[Johnny2X2X]

59. Congrats!

And happy to see you’re doing the math. Too many people I’ve seen look only at the benefits per month and not the total pay out.

People wait an extra year because their benefits will be 10% more per month, but they forget to figure those 12 months of benefits they now won’t get because they waited. If you’re bypassing $24K so you can then get $2200 a month instead of $2000 a month your math is different. It can take a decade to make ok that $24K you didn’t get.

[Richluu]

61. I retired st 62 because if my husband's health

And had 10 lovely retired years with him before he passed.

I love being retired. I'm busy with service work. But it's all my own choice and schedule.

Blessings on your decision!

[richdj25]

62. I feel you wholeheartedly

Am pretty much in the same age group and mindset as you. Would be really difficult to go at it another 6 months, especially with the daily commute.

[jayschool2013]

63. Congratulations

I'll be doing the same at the end of this semester, though I'll continue to teach as an adjunct twice a day.

The passage and Monday's scheduled signing of the Social Security Fairness Act by President Biden made the final decision for me.

The SSFA eliminates the Windfall Eliminations Provision, which penalized state and federal pensioners by withdrawing from their SS payments even if we paid fully into the SS system for 20 years, as I have.

Enjoy your "golden years." I will try to do the same.

[surfered]

64. If you take Social Security prior to reaching your full retirement age, there is a limit on how much income you can earn

from working. If you make more than this amount, some of your SS payments may be clawed back.

I urge you to make an appointment with your local Social Security office on line and have them explain this to you. There are special rules for the amount of income you can earn in this period prior to reaching you full retirement age, depending on your birthday.

I made an appointment on line for 9 am. I arrived prior to that. At 9 AM, they called my name. The SS employee was very helpful, trying to maximize my benefit and explaining the amount I could earn.

Based on their advice, I retired prior to full retirement age, continued working for a bit with no reduction.

[hamsterjill]

80. There are new rules that are specific to retiring

Within the year when you reach full retirement age, and I have looked at it. The limit you can make for the year you reach full retirement age is much higher than other years, and you would only be penalized for the time up to the actual date you reach that full retirement age. In my case, I would not make over the limit if I continued to work for six months.

[surfered]

88. That was my case as well. Happy Retirement!

[greatauntoftriplets]

65. Congratulations!

[KitFox]

66. When I saw liberating and excited

in your post, I know you’ve made the right decision! My husband was 10 years older than me and retired while I was still working. When I reached 58 I was eligible to draw my pension so I decided to make the leap. It was absolutely the right decision because my husband and I had 9 wonderful years together with both of us retired before he passed. For instance, being able to just pop over to the coast together at the drop of a hat was a gift beyond measure. Even though I loved my job, when I retired I realized how stress free I now felt. When your whole day and night are your own, the possibilities are endless. I love how I am able to attend all of my grandchildren’s activities no matter the time or day. I love saying yes to volunteer opportunities. I guess the only advice I have is to map out your health insurance situation until you are age eligible for Medicare. I feel happy for you and wish you peace and all good!!!!!! 😊

[Figarosmom]

67. Well now that youve decided , you have the upper hand.

You can tell them NO you will not sit in traffic 2 to 3 hours to go into the office when you can do your job perfectcally well from home. If they fire you nothing lost. But if they say yes you have the choice of finishing those 6 months.

I retired early and have never regretted it. And you are close enough to age it shouldn't make much difference.

[catbyte]

68. I LOVE being retired. To steal a line from Bachman Turner Overdrive's "Taking Care of Business,"

"I love to work at nothin' all day..." Well, nothing that I don't want to do, that is.

Congratulations!

[edhopper]

69. I retired a year early

for a 6% hit. So worth it!

[keithbvadu2]

70. Do something! Something outside the house.

Do something! Something outside the house. A course for learning something or a hobby. Part-time job. Volunteer work. Don't just hit the rocking chair. Don't sit around harassing the spouse.

[Festivito]

71. Sounds like you could explain to your employer that you will leave when you can no longer work from home.

Worst case, they escort you out that minute. So what! You're ready for it.
Otherwise, you might continue as long as you would like into the future.
They might consider reducing your hours -- or not.

It's not all about the money. It's important to us humans to have something to do.

My older brother retired and worked at a state campground because he liked doing it.
Whatever you choose. Good luck.

[BobTheSubgenius]

72. Congratulations!!!

I have really enjoyed retirement, which is not only great, but fortunate, because I retired in 1989. I value time MUCH more than things, I caught some luck in the form of a smallish inheritance (especially in terms of "lifetime" money) and am very disciplined with money.

What I've often said, rather flippantly, is that the money sucks but the hours couldn't be better. I am completely fine with that tradeoff.

I wish you the absolute best of luck and enjoyment in your retirement years! You will wonder how you ever had time for a job.

[Silent Type]

74. Don't blame you. I will say this, I continued to work for my employer for years after full retirement. It was liberating

to know that I could quit anytime if they screwed with me. They did of course and I quit 3 times. They hired me back twice.

The 3rd time was a bit much for them as I threw a fit in a big open office. Wish I had a video. I still do some work for them and others as a consultant, but I don't go out of my way to get more work. I do appreciate the money though. And I often go months without any work, which is nice.

Good luck.

[BOSSHOG]

75. Congratulations My Friend

You’ve gotten enough money advice.

Here’s to your health. Move every day. When you think you’ve moved enough move some more. If you watch TV get up and walk around during every commercial. Do light weight training. Take care of your body and it will take care of your brain. I’m 70 and it works for me.

I repeat. MOVE EVERY DAY.

Have a great retirement.

[Tadams01KC]

77. Jan 1 for me

I just retired Jan 1 after 36 years at the same engineering company. Just turned 65. I was planning on sticking it out for a couple more years but recently decided to get out.
I don’t think it has hit me yet. I still jump up to check messages from work, then remember there are no messages from work.
In the meantime, getting Medicare, SS, Health coverage etc is a full time job.
Good luck on your retirement!

[hamsterjill]

82. Good for you.

I’m going to tuck your screen name away in case I have questions along the way about the process - if that’s okay with you.

[Shermann]

84. If I were to retire this year...

Last edited Sat Jan 4, 2025, 06:03 PM - Edit history (1)

...I would try to earn $15K or a bit more before hanging it up. That would qualify me for the maximum ACA enhanced tax credits which are still offered through 2025 but set to expire. I have a way to go before I qualify for Medicare.

[Joinfortmill]

78. Congrats! My guess is you will not regret it

I was WFH my last 3 years before I retired. That was in 2014, well before WFH was common. I just lucked out.. However, this new position was an intellectual stretch for me & the hours I had to put in to keep up were grueling. About 6 months before my full retirement date, I just flat burned out. That was 10 years ago. I crunched some numbers, decided I could take the hit, and I retired early. Never regretted it. Found new passions and I'm still going strong.

[ProfessorGAC]

85. When It's Time, You Just Know

I had a very good job & leaving wasn't about anything I didn't like.
I just knew I had done it enough and it was to coast.
Congrats on your decision.

[Deep State Witch]

90. Congratulations!

Yes, it will be an adjustment period. But, it won't be so bad because you're already working from home.

[Evolve Dammit]

91. Woo Hoo. You won't regret it. Life is too short. After 50 years I was done. Just hope they don't crash the economy.

[patphil]

93. I suggest you gut it out, people live a lot longer than they used to. Every penny counts down the road.

[c-rational]

94. Go for it. One thought, if you wait or can wait 6 months consider it. If you can wait another 6, when you apply

you can retroactively grab 6 months. That way you do loose six but your starting point is higher. Enjoy!

[SleeplessinSoCal]

95. Congrats!

No doubt you'll find spending your time worthwhile.

[Blue Owl]

99. When you reach that age where the phrase "I'm too old for this shit" really means something.....

[TNNurse]

100. You just know when it is time.

For us it was age 65 and 12 hr hospital shifts.

That commute described sitting in traffic for that long is evidence you are ready.

[Hamlette]

105. You'll love it!

My first job was at age 14. I retired at 67. I cried for a week worried I would hate it. But it's been great.

Find something you like to do. For me it was play bridge 3 times a week. quilting and sleeping in late.

I didn't do much when I first retired. My retired sister told me I just had to do one thing a day. I figured a shower counted but I expanded it. Also.exercise. I have always been an off and on exerciser. Sometimes going years without anything serious. As you get older, you need something. The more you move the more you move. It gives me the energy I need to do un stuff.

[dai13sy]

108. If you are not happy going in to the office, you don't want to work there anymore. The people at Social Security are

wonderful and soooo helpful. And leaving at the end of January is a good plan. You sound like a smart person who has this figured out. Good Luck!!

[raising2moredems]

110. Good for you..

We're back to this "can't manage people of not in the office/"collaboration" shit. I, like others at my company, was hired remote. Post-pandemic, some idjits got this mindset of "hubs" (I work IT) for "collaboration" shit. Some originally hired remote (I have paperwork stating this and I am no where near a "hub&quot question why s/he has to drive to a "hub" when NONE of his/her co-workers are at the "hub". We've been understaffed for years (tough to find people with experience in the software we run). And we've lost people due to the "hub" as well as pay. Have to say I'm a bit impressed management in my area has woke up and smelled the coffee - not good when supporting your core system is taking a hit. There are A LOT of people that work in my area who have been with my employer for decades and can retire tomorrow if s/he wishes. I hit the magic number a couple of months ago. We have people who retired and are now working PT, I had already talked to an "upper management" person in my department re: working less days a week versus flat out retiring. Management person was okay with that. I can afford a year of COBRA between age 64 and 65 if need be. I will work FT until I am 64 (in a few months). Once their one size fits all even when it does not support software change happens, I will surely working less than FT if not retired. I've lived below my means most of my life. And I doubt a nice, white male will be replacing me. Likely female or a citizen minority. F-U magats.

[paulkienitz]

111. Once you've got Medicare, return-to-office mandaters can fuck all the way off.

I quit my job the day my Medicare was enacted, even though I'm not planning to take Social Security until 2026. Now I can work part time or short term gigs and have a lot more time available to support my partner or do my own thing.

[RainCaster]

112. I too am retiring at the end of January

I told my boss 15 months ago. I'm so looking forward to this. After a lifetime in technology, I'm going to focus on my farm and enjoy traveling with my wife.

My consulting fee will be extremely high if anyone wants me back.

[The Wizard]

113. Take a medical

leave of absence until full benefits are realized.

[Ptah]

114. Retirement

Work


First year of retirement


Third year of retirement


Fifth year of retirement

[BlueSky3]

115. DH is a Certified Financial Planner

who says that retiring before full retirement age is going to reduce your SS benefit, which could be significant over the long run. Whether you retire now or in 6 months depends on how much you will count on receiving your full benefit.

[Phentex]

117. Congratulations!

Enjoy all your days ahead! Live it up! Smell the roses and all that crap!