90 Working Days LeftTo Retire :)

Congrats! I know it’s hard to keep focused when your this close , as least it was for me . As far as leaving Dec. vs waiting until 2022 , there might be so tax advantages . If your going to get any extra pay for accured vacation , sick days etc. it might put you in the next tax bracket for 2021 , also is you contribute to 401k , Roth and might be others , it would give you one more chance to add . That said I didn’t practice what I preached lol . I had last day in October 2020 as my retirement date . All those things I mentioned affected me but I didn’t want to work another winter .
 
I get it. I officially retired at the end of June 2019, but effectively I tapered off pretty fast after Jan 1 of that year by dropping to 75% time and burning unused vacation. My advice is don’t fret the short-timer syndrome. Make some transition plans for yourself. Think about what you’re going to do to stay mentally, physically and socially active after you retire. Also think about any things you can do at work to make your departure smooth for the other people there.

While it is a change, it is a pleasant one. I‘m going to go out on a limb and guess you, and probably most other people here, have strong enough hobby interests that keeping busy won’t be a challenge.
 
I retired 3 weeks ago Jeff it's just that "work " doesn't realize it just yet . ;) I changed shifts , off the weekend nights , and now have two co-workers on my shift . This is after running the plant for three years by myself on the worst shift available . Life is still not great , but bearable . As you know ,my new leader is a good old friend of mine and I'm trying to help clear out this overblown PM schedule we have when we have no personell .
As of now , all temp mechanics are out the door . Management finally figured out it wasn't such a money saving oppurtunity . We've hired three full time permanent mechanics , the one I trained on the weekend shift is doing excellant , the other two ....................................as of now . We'll see . All five original mechanics can walk out the door tomorrow including myself . I'm on the fence at this moment , but my balance isn't too good so I may just sway to the right side . :grin:
 
graham-xrf said:
Being self-employed, and having a bit of a struggle after 2008-2009, I deferred mine. I went on working in the rat race until way past "the official"retirement date. I so regret that! I should have thrown in the towel long ago. Although now "retired", even now, I still do some occasional consultancy.

It's true that my pension benefit is larger than it would have been had I retired at 65, but here is where one should know that one can end up with more money than time, even if we have not very much of either!

You will feel a bit like wondering what to do, and almost guilty for a few days, but that will pass. What comes next is up to you. Remember that you do still count. You are never irrelevant, even if you have decided to let the rest of the world continue to make a mess! I have found that most stuff around me I have gotten into as interests, and most possessions are way less important than the people. Family, friends, strangers who may become friends, whatever..

Go for it! Discover that place where you can treat every day as if it's a bit of weekend, or vacation. Stop being a slave to deadlines, and unreasonable expectations.
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Good advice for sure!
 
matthewsx said:
retroactively
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Really?
I’ll check into that.
I’m also wondering about the grace period. I think Medicare starts on February 1st. I retire on December 31st.
This retroactive option is an interesting idea if I need it.
 
Alcap said:
Congrats! I know it’s hard to keep focused when your this close , as least it was for me . As far as leaving Dec. vs waiting until 2022 , there might be so tax advantages . If your going to get any extra pay for accured vacation , sick days etc. it might put you in the next tax bracket for 2021 , also is you contribute to 401k , Roth and might be others , it would give you one more chance to add . That said I didn’t practice what I preached lol . I had last day in October 2020 as my retirement date . All those things I mentioned affected me but I didn’t want to work another winter .
Click to expand...
I just found out we can no longer contribute to a Roth IRA once we retire. That’s too bad
 
Janderso said:
Really?
I’ll check into that.
I’m also wondering about the grace period. I think Medicare starts on February 1st. I retire on December 31st.
This retroactive option is an interesting idea if I need it.
Click to expand...

It took some serious questions of the folks who would have sold it to me but essentially if you think about it makes sense. Imagine you just got laid off, where are you going to get ~$1800/mo (what we paid for two healthy adults).

Check question 14 on this webpage for what clued me in.

COBRA Continuation Coverage Questions and Answers | CMS

This page contains questions and answers regarding the Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) and public sector/non-federal governmental health plans
www.cms.gov www.cms.gov

I think insurance companies would just as well let you pay them whether or not you need to :mad:

YMMV (of course),

John
 
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