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Officially Retired!


Cliff R
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Posted (edited)

There is a balance between saving for when you are older and don't want to work anymore and spending money and doing all sorts of fun chit while you can still enjoy it.

I decided to take a lump sum from PERS as they are counting my retirement incomes against me.  My financial guy is going to invest the money so I can start drawing checks off it when I decide the time is right.

I've been collecting my police retirement since I was 48 (I've almost collected as many retirement checks as I did work checks) and I knew that my Social security was going to be crap"

Cool!  I started drawing Military retirement back in 2003 when I was 43 years old.  I also get a check from the VA every month.  I also get some royalty checks from the books I wrote, so should be good to go without having to get a job at Lowe's mixing paint and making keys!.......LOL

 

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Edited by Cliff R
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I decided to take Social Security at 62, since I had been sucker punched by my employer and downsized 2 days short of my 60th birthday after 32 years on the job. With a then 16 year old I needed the money ASAP. After I applied, I got a call from a Social Security agent who informed me that because I had a child under 19, I was eligible for an additional $1,200 a month benefit until he turned 19. I had not been aware of that. Because of that, I actually came out ahead by applying at 62 rather then waiting. And with a kid at home, I needed it.  What really saved my bacon though was after downsizing I took my 401K money, transferred it to my IRA and took control of the investments myself, rather then have an investment house make the choices. I ended up doubling my money in two years, and tripling it by the time I got to 65. Which made the difference from a tight retirement to a comfortable one.

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On 1/1/2022 at 10:46 AM, Cliff R said:

Tricare for Life made my decision much easier

Same here, brother - I've been on that since I was 39 years old.  But, at 39, I was 21.5 years into the .mil life, and punched out.  It makes life MUCH easier, that route.  I hear you.

So, my question for you is...   Still going to do the carbs?  You kill it in that arena.  :thumbup:

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Retirement was the best thing I ever did at 55, I've been retried for 14 years. But it only has one problem. How did I ever get things done when I was working? There's just not enough time in a day. 

enjoy your retirement gents!

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