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Posted: 3/9/2019 1:10:44 PM EDT
[#1]
I was going to be a Walmart greeter but they did away with those jobs.
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Posted: 3/9/2019 2:54:28 PM EDT
[#2]
I moved from 7% flat to 6% with 2:1 at 8 years guaranteed 7% growth per year. I can move anywhere that has the same plan and be vested. Just gotta do 8 with the dept. Have about 1-2 years to decide and wherever I am then is where I’m stuck for good.
Starting over at 30 sucked but my previous plan was negative growth after 8 years. If I’m lucky I’ll retire 55 ish. If I retire I’ll look for a part time gig doing something fun. Travel. Hunt. Once I don’t have to work, I won’t work unless it’s something I feel like doing. |
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Posted: 3/9/2019 3:03:05 PM EDT
[#3]
I'll retire at 55 most likely. I may go drive a truck for short haul and occasional longer runs. Something that requires very little responsibility and no supervising anyone other than me. Do that for a few years till my second retirement and military retirement kicks in.
Or, I might just work at a gun store for a little money and some fun. I've got a few years to go. |
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Posted: 3/9/2019 3:13:05 PM EDT
[#4]
I put back about 40% of income and invest in index funds.
Somewhere around 55 I'll pull the plug and live a pretty cush life living on roughly 4% withdrawals. ETA, just saw what forum I'm in. My method will be different from most of you. |
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Posted: 3/9/2019 4:24:24 PM EDT
[#5]
I’m out at 20. That gives me 50% and medical. I have rental properties to sell off by then for an immediate cash infusion. I work a full time side gig but by then I’ll be ready to give that up as well. Fortunately I’ll be debt free so I can get by at 50% since I’m moving to rural Missouri where COL is cheap compared to where I am now. If I get anything from Social Security I’ll consider it a bonus.
By that point I’ll probably just look for some easy gig to keep me occupied. Something like Home Depot driving a delivery truck or what not. Whatever I do it will have absolutely nothing to do with emergency services. |
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Posted: 3/9/2019 4:32:31 PM EDT
[#6]
I am planning to leave at 57 as that will give me 21 years at this department (the other service did not carry over) and I only need 20 for the medical insurance. That also is 2 years in the DROP that they have here in Florida and I will be pretty well set since I have multiple investments outside of the department. My intention is to only work at something fun or volunteer. Saving and investing outside of the department's pension and 457 fund has served me well so far.
I turn 52 this year so I have a few years left to work before I leave but so far everything is going according to plan. Oh, I will also have zero debt when I retire as my house is paid off when I turn 55. I think not having any debt is the magic that will make everything work. |
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Posted: 3/9/2019 8:05:49 PM EDT
[#7]
Wife wants to start fostering. We’ll both be retired in LE (20 for her, 25 for me). It’ll be more about quality of life than anything for us. I’ll have a corporate job by then to supplement our retirement insurance.
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Posted: 3/9/2019 8:45:15 PM EDT
[#8]
I plan on substitute teaching after my 25 in LE. In our area, substitutes choose the days/grades they get to teach. Easy retirement gig with little responsibility.
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Posted: 3/9/2019 8:57:15 PM EDT
[#9]
My chosen profession is not physically demanding, so I will probably keep a few clients after I retire for extra spending money.
Accountant |
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Posted: 3/11/2019 1:22:01 AM EDT
[#10]
*Cracks Knuckles*
I'll hit 20 years at 42 (8 years from now). I plan on using some of my savings to buy 5 years of service, which would give me 62.5%. After taxes, that'll be around $2,600/month. The plan is to invest that $2,600 each month. I'll have 2 masters degrees by then so I should be able to get a decent job for career #2. If my calculations are correct, the monthly investment should net me around $400k after 10 years. Combine that with some inheritances, I hope to have a cool mil by 52-55. Put that mil into something to draw 3-4%, and I should be sitting pretty and able to provide for my wife and kids. Disclaimer: This is only speculation. I still need to run it by my financial guy to see if it even viable. |
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Posted: 3/11/2019 8:12:19 AM EDT
[#11]
so for us there is a date, 27 year in or so that it is not worth going to work anymore.
I have a defered comp, my military retirement (when that date comes) and my house that I can sell when I get out of the communist state of maryland. Pretty muh my eject plan. |
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Posted: 3/11/2019 8:24:49 AM EDT
[#12]
Retire at 80 / 52 years old / 28 years / 4 years to go
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Posted: 3/11/2019 10:04:39 AM EDT
[#13]
I can go at 51 with 50% or i get 2% more for every year after that. We are saving outside of that a well. i will sty until I find the next thing then punch out as soon as i can Plane for work is to use my CDL and drive local dump truck or pars what ever. I just dont want to fix anyone's problems any more.
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Posted: 3/12/2019 5:42:16 AM EDT
[#14]
I’ll have 30 years in at 53 which will get me 90%, I plan to go in the DROP if it’s still around and walk out at 58 or so. Hopefully with that and the investing I’m doing on my own we’ll be sitting pretty well and won’t have to do anything if I don’t want to. Still have a long way to go though.
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Posted: 3/12/2019 6:53:42 AM EDT
[#15]
Quote HistoryQuoted:
I’ll have 30 years in at 53 which will get me 90%, I plan to go in the DROP if it’s still around and walk out at 58 or so. Hopefully with that and the investing I’m doing on my own we’ll be sitting pretty well and won’t have to do anything if I don’t want to. Still have a long way to go though. |
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Posted: 3/12/2019 11:13:39 PM EDT
[#16]
Quote HistoryQuoted:
I see guys talk about plans like that but always wonder how well the plans doing. With SDRS the plan is better than 95% funded for all liability's with use putting in 8% and the employers matching and not IOUs for anyone and it is run by the state but the stage can touch to money so not chance of a social security like problem. Quote HistoryQuoted:
Quoted:
I’ll have 30 years in at 53 which will get me 90%, I plan to go in the DROP if it’s still around and walk out at 58 or so. Hopefully with that and the investing I’m doing on my own we’ll be sitting pretty well and won’t have to do anything if I don’t want to. Still have a long way to go though. The two downsides currently are that we are not eligible for Social Security, and don’t have a COLA post retirement, the latter is something we are working to correct in our current round of negotiations. |
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Posted: 3/13/2019 7:53:07 AM EDT
[#17]
We pay and thus are eligabel for SS if its still paying when I get there and we also get a cola every year between 1.3 and 3% based off consumer price index and how well the plan is funded.
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Posted: 3/14/2019 8:09:25 AM EDT
[#18]
We are 20 and out, no age limit with a 3% multiplier, FAC is the average of the best three of your last ten years. 10% annuity contribution and we get our entire annuity plus interest back when we separate. You get an additional 3% for each year after 20 and we have a 5 year DROP plan too.
I've hit my 20 and went into the DROP and I'll be done 11/2020 at which time I'll start drawing my pension at 47years old. I will not "have" to work after that point if I don't want to. I do have some social security credits to make up since we don't pay into SS so I'll do something to get those but its not going to be anything of consequence, lol. Along with my DROP, Pension and Deferred Comp I'm good. Been kicking around the a few small business ideas etc to stay busy but again nothing to crazy. Mostly I'm gonna fly fish when and where I want to, mountain bike when and where I want to and do all the other shit I've missed out on while working my ass off all these years. J- |
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Posted: 3/14/2019 9:36:31 AM EDT
[#19]
Our pension is 50% at 20, with an additional 3 % for each year between 20 and 30 years. No additional credit after 30. I'm currently at 34, and the only reason I'm still working is that it staves off the day when my ex will get any of my pension money.
My plan always was to have the mortgage paid off, the kids through college, and retired by 2016 Then the wife divorced me. Then my plan became to work until 2020 when I can draw my military pension. Figured that retiring and drawing both would make up for the 29% loss of my county pension and 50% loss of my military pension from the divorce. The side business plan was always to keep my FFL going. That's still the plan, and business is better than ever. Never will be more than a hobby, but its growing after 26 years as an FFL. The other side job was to become chief for the part time agency I worked at for 13 years. I left there a few years ago, but the current chief is retiring this year and I'm in consideration for his spot. The main thing holding me up from retiring is that after 5 years, the ex still has not filed her paperwork claiming her chunk of my pensions, and the state wont give me a retirement estimate without that paperwork in hand. Edit update The village CLEO job went to someone else. The ex fired her lawyer and her new one had the paperwork drawn up within a month. I'll schedule an appointment with state retirement and have a side job lined up that'll keep me busy three days a week. I guess that thirty one years of walking through the same door is enough after all |
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Posted: 3/14/2019 2:48:17 PM EDT
[#20]
Yeah... I quit after 10 years and went back active duty Navy. I'll retire 8 years sooner making more money with better health benefits.
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Posted: 3/16/2019 5:58:38 PM EDT
[#21]
My goal is to retire at the earliest possible point where I don't have to work again for the rest of my life. I'm currently 47. I'm a federal agent so I can go at 50 but my pension is way less than most of the state and local guys that have posted. Also, they force me to retire at 57. If I leave when I'm first eligible at age 50 I will get a pension of 37% of my average high three salary, adding 1% for every year after that until they make me go at 57. My wife is a doctor and she wants to quit as soon as possible and not work again at all, and probably go to part time in the next 2 to 3 years.
If I HAVE to do something in retirement I may fly medevac or do some flight instruction or maybe work on teaching a ground school at a local community college or something aviation related but honestly I really don't want to do anything but just fuck off and have fun. Luckily my wife and I are dumping bucket loads of money into our investment accounts and it looks like if I stay until about age 53 we should be sitting very very well and not have to worry about a side hustle, but even as abundantly blessed as we are it's still in the back of my mind thinking about contingency plans. |
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Posted: 3/17/2019 12:29:33 AM EDT
[#22]
Looking at teaching jobs or background checks for OPM. Don't really need it as much as its to keep busy.
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Posted: 3/20/2019 12:36:54 PM EDT
[#23]
Thinking about going to school for welding as something fun that pays after I retire. Other than that, don't really want to work.
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Posted: 4/11/2019 11:41:56 PM EDT
[#24]
Im 51 and i'll be going at 54 with 30 years in the WRS ( I sure wish I had the 2 years time I worked in illinois !) - retirement should be about $5,800 / month before tax. Unfortunately no post retirement healthcare is involved so I'll be looking around to do something, just not sure what yet. Like someone said above, I sure wont be looking for a lot of responsibility or anyone to supervise!
Sometimes I think it would be easier to stick on the job but I really am starting to get tired of it all and there has to be something else out there I can do. |
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Posted: 4/12/2019 1:57:13 AM EDT
[#25]
I retired 3 years ago with 27 years service from Oklahoma. Our retirement is 50% at 20 years with
2 1/2 % per year after increase. I did the 5 year drop back so I receive 55% and about $340K was rolled over into nationwide along with my 457K I contributed to. Unfortunately a cola may never happen. Several years ago the state told all the pensions to get funded near 100% if we ever wanted to see a raise. The police pension funded did a great job and currently we are at 103% funded liability. Of course everytime we have asked for a meaningful raise using our money (the state doesn't contribute, just controls it) we get the run around about how they just don't know, they can't afford to give the retired teachers a raise and it wouldn't look good. So in essence we are held hostage by the teachers horribly run pension that has absolutely zero to do with us. Retired officers haven't had a cola in 12 years and we just got shot down again yesterday when the state senate refused to hear a bill passed by the house to give us a one time 4% cola. Wish there was a way to take some of the states control of our pension away from them since we have never been state employees and aren't state retirees. Don't count on colas when you retire unless it's written into law because they will find a way to deny one even when there's no legitimate reason for doing so. |
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Posted: 4/12/2019 9:17:26 AM EDT
[#26]
Yeah COLA is a big deal. The state of Florida is at 0% COLA since I believe 2011 and since I have years prior to that my COLA will be 1.41%. Sucks but better than nothing. I tell the young guys looking to work as firefighters to work for a city instead as most of them still have COLA.
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Posted: 5/2/2019 11:48:43 PM EDT
[#27]
I can't remember the exact formula but age 55 with 30 years was the target. I went out a little higher 56.5 years old and 31.5 years. I get a 2% COLA. I am in a 3 tiered system. ABC and I am plan B. People hired up until 1977 plan A, get 3%. I paid in 10.24 for 5-6 years then got dropped to the plan A rate, 8.33 but still kept the 2% COLA. I've been retired for 6 years now. We get to factor in 1 years worth of benefit time to our final compensation and that makes the final worth bailing as soon as we hit 55. Some people stay longer but I don;t get it. I have a friend that got cancer, could have had a strong disability pension for it but healed up and went back to work. He said because his ex was going to get a big chunk of his pension and 457. I told him she's going to get it anyway and to get out while he can. Some guys stay until their kids get out of college or they get to stop child support. My body was too thrashed to continue after 56 anyway, the last year was hard to get through.
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Posted: 5/6/2019 1:13:25 PM EDT
[#28]
Quote HistoryQuoted:
Looking at teaching jobs or background checks for OPM. Don't really need it as much as its to keep busy. |
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Posted: 5/6/2019 10:44:09 PM EDT
[#29]
Retired last fall from municipal PD with almost 21 years. My pension is 50% of average of three highest consecutive years. There was no way it would get higher than 50% so it made sense to find something else to do. I now work security at a very rural school district. It’s great! I ONLY work 40 hours a week and I’m looking forward to summers off. I have a 457b investment which I no longer contribute to, but hope to have it keep growing...I’m only 46 years old. I’d like to help my kids through college, then save for a few years, then retire to a cheaper, more freedom friendly state.
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Posted: 5/30/2019 11:29:34 AM EDT
[#30]
Retired in 2013 after 35 years with 87 + 1/2 % of maxed out Sgts. pay. Worked 5 years at small school, leaving at 62 and taking my social security. will be making over 100% of my highest year at the PD. Have a good amount in my deferred comp to use when needed.
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Posted: 8/3/2019 4:57:34 PM EDT
[#31]
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Posted: 8/3/2019 6:27:26 PM EDT
[#32]
25yos/48yoa 60%, I lucked out and grandfathered into that. Everyone hired after Jan9 2013 to Spet 2013 is 25yos and 52 yoa, after Sept 2013 its 27 and 52.
I'll be 46 when I have 25 years of service. Started when I was 19, moved that money and bought time when I started at my current municipality. If I keep promoting I'll go DROP when I hit 48 ( 27 years of service) and do the 5-8, then never work again. If I don't keep promoting, I'll leave at my 27 and do something else until I can draw on my Roth. |
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Posted: 8/4/2019 12:04:13 AM EDT
[#33]
Quote HistoryQuoted:
25yos/48yoa 60%, I lucked out and grandfathered into that. Everyone hired after Jan9 2013 to Spet 2013 is 25yos and 52 yoa, after Sept 2013 its 27 and 52. I'll be 46 when I have 25 years of service. Started when I was 19, moved that money and bought time when I started at my current municipality. If I keep promoting I'll go DROP when I hit 48 ( 27 years of service) and do the 5-8, then never work again. If I don't keep promoting, I'll leave at my 27 and do something else until I can draw on my Roth. J- |
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Posted: 8/4/2019 12:24:46 AM EDT
[#34]
Having some major fairly major surgery in October, burning my sick leave and vacation for about 6 months.
I will get 61% with 30.5 years in, right about $100K a year pension, I think I am good to live off of that. And some VA disability money. Mrs Kubota still wants to work for about 5 years as an RN. If I get a job it will be to have some social interaction and maybe be vested in social security, I currently only have 30 quarters |
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Posted: 8/4/2019 12:16:54 PM EDT
[#35]
Everyones situation is different. I retired at 48 with 26 yrs of service. My retirement plan was set up several years in advance with the help of a wealth management firm. It was set up so that I don’t have to work like some unless I want to. There is a misconception out there that if you bust your hump during your last three to fours years of service to boost your pension you will be financially set. After putting in twenty plus years without thinking about life after the job you are not going to make up for it in the last 1000 days of work. A wealth management specialist can show you where you are at now and what the extra years of work will really get you. They can also show you how to get to where you want to be with what you have to work with. I was the only one who had really planned a good ways out for my retirement from my dept and a lot of others couldn’t figure out how I was going so early and surviving on just the pension check. I educated them on the bigger picture of using a professional in the planning phase and now after being retired two and a half years I was told by a recent retiree that there are now over a dozen of my former coworkers using the same planning professional I used. It’s even spread to the FD personnel.
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Posted: 8/30/2019 7:21:57 PM EDT
[#36]
Hello all! New member here. I am close to retirement and can not wait to put NYC in my rear-view mirror. I built a house on the gulf coast in Florida and use currently it for brief vacations. Fortunate to have a modest pension so we can get by but will manage it carefully.
I will have to learn a lot as to where to deer and turkey hunt in Florida but at least there they are not anti-gun, anti-hunters like people in NYC. My wife is a bit younger so we may wait another 1 ½ years so she can hit her job’s pension. It will be hard pulling away from the job but I am nit as young as when I first started. Iexpect a lot of my FF brothers will find ways to visit us, and often! |
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Posted: 8/30/2019 7:23:26 PM EDT
[#37]
How do you post a personal picture/avatar under your sign in name?
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Posted: 9/9/2019 8:32:39 PM EDT
[#38]
I can leave at 55 drawing about 80%. I will also have a deferred comp plan, and a state police annuity.
I had originally planned on staying until 62, but the more I think about it, doesn't seem worth the wait. My retirement already has a 2% cost of living built in, and the most we get these days is 2% each year on the job, so no real incentive to keep working. I have thought about doing some private sector work at 55...maybe banking industry doing financial investigations or computer forensics, which i've been doing for 20+ years. |
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Posted: 9/10/2019 5:37:31 PM EDT
[#39]
Out at 55 yrs and 10 months, 31 years and 7 months of service. 2% at 50 and then increases. I think i went out at 2.76. 1 years worth of benefit time is computed in so I think I went out at 88%. I tried working for a year at Bass Pro and it totally sucked. I was asking for time off 2 weeks in advance where when I was working I only needed to request 3 days in advance. BP gave no fucks what my previous was or life experience or anything. Was treated like I was 16 in my first job.
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Posted: 9/10/2019 6:32:44 PM EDT
[#40]
Quote HistoryQuoted:
How do you post a personal picture/avatar under your sign in name? |
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Posted: 10/7/2019 4:36:08 PM EDT
[#41]
Quote HistoryQuoted:
I was going to be a Walmart greeter but they did away with those jobs. That job sometimes needs help so when they ask me how I am I give them a whacked out answer. "Not worth a fuck. I think I knocked up one of the girls at the club." "I think I'm starting my period or something." "I woke up with a boil the size of a soft ball this morning. It's bout the size of a fucking soft ball!" "I think I picked up something nasty from Bubbles down at the club a few nights ago!" Anything that I can think of that comes out of nowhere and stuns him for a second and makes him laugh like hell. I've had a couple thank me for making their day.  ETA I turn 68 in a couple of weeks which REALLY makes it come out of nowhere. 
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Posted: 11/2/2019 7:17:09 AM EDT
[#42]
I used my GI Bill and got an HVAC and Electrician certification. I'm a fed so I can retire at 50 with 20 years in. Too young to waste away in front of the TV. I'll probably get a gig pulling wires or doing HVAC service calls.
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Posted: 12/12/2019 12:40:33 AM EDT
[#43]
Im going to sell crack.
 Im 47, and already have 20. Not really planning on going till Im 55. I never really thought about it. |
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Posted: 12/16/2019 6:57:07 PM EDT
[#44]
The smart thing to do (if you can stand to work in one of those places) is to go to work for someone like LAPD or LASO, do your 25, and then move to someplace like Mississippi, or Alabama, or northern Florida, and live like a king on your 50 or 65 per cent pension.
That's kind of what I did (except as a federal 1811). I retired at 52 and like my life. |
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Posted: 12/17/2019 10:39:55 AM EDT
[#45]
You know how some people bash unions in GD? Not me. I can retire now, but I'm gonna wait just a little bit. I'm going to enter our three year DROP next December. I will punch out December 31, 2023. That will give me 26 years of service before I enter the DROP, plus some credit I can buy with my accrued leave will max me out at 85%. I will then escape Marylandistan and head south with my DROP funds, plus my deferred comp money, and bring home more money than when I worked.
I may get a job as an RSO or work in a gun store to fund my habits. |
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Posted: 12/18/2019 9:08:07 AM EDT
[#46]
Quote HistoryQuoted:
You know how some people bash unions in GD? Not me. I can retire now, but I'm gonna wait just a little bit. I'm going to enter our three year DROP next December. I will punch out December 31, 2023. That will give me 26 years of service before I enter the DROP, plus some credit I can buy with my accrued leave will max me out at 85%. I will then escape Marylandistan and head south with my DROP funds, plus my deferred comp money, and bring home more money than when I worked. I may get a job as an RSO or work in a gun store to fund my habits. |
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Posted: 12/18/2019 9:41:27 AM EDT
[#47]
I have 1.3 year left. Mentally I want to go.
Currently we have a 25 yr 50% retirement. We have a bill on the governor’s desk for parity with other state agencies for 20 year 50%. If it passes, I really don’t expect it to, it will bump up my 25 years to 58%. That 58% is enough to, I plan to do the 25 years either way. On top of the pension my 457b looks like it will immediately yield about $50k per year based on an average 10% return without touching principle. Should be even better in 1.3 years. I feel I am in decent financial position to retire. Now as far as what to do beyond fishing, hunting, shooting, camping, wood working? Not sure. A retired coworker does car relay transfers for car dealers. He travels the northeast and posts pictures of his out of town meals. |
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Posted: 12/19/2019 5:38:17 AM EDT
[#48]
10 years in so far. I can retire at 51 at 60% of my top 3 in about 11 years if I buy 4 years active military time, which Im in the process of doing. Otherwise I would have another 15 to go to get 25. I also pay into a 457 deferred comp, so theres that.
I will also get retirement from the military between my active duty time (Army) and the rest in the NG. I can retire at 20 in 4 years. Of course I wont be able to draw that until Im 60 or 62 (not sure). Once I retire from LE my plan is to go work part-time as a security guard somewhere that pays into SS until Im at least 67. By that time I should be able to get some SS but it will be reduced due to the windfall provision. Thats of course if SS is still around. |
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Posted: 12/19/2019 6:14:42 AM EDT
[#49]
Quote HistoryQuoted: 10 years in so far. I can retire at 51 at 60% of my top 3 in about 11 years if I buy 4 years active military time, which Im in the process of doing. Otherwise I would have another 15 to go to get 25. I also pay into a 457 deferred comp, so theres that. I will also get retirement from the military between my active duty time (Army) and the rest in the NG. I can retire at 20 in 4 years. Of course I wont be able to draw that until Im 60 or 62 (not sure). Once I retire from LE my plan is to go work part-time as a security guard somewhere that pays into SS until Im at least 67. By that time I should be able to get some SS but it will be reduced due to the windfall provision. Thats of course if SS is still around. Your military pay paying into SS should help a bit as well. |
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Posted: 12/21/2019 8:34:16 AM EDT
[#50]
I became a commercial pilot when I left. I know other LEOs who want to be flight instructors when they retire in the next couple years.
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