Employee Morale Downer

[joe smith]

It will be tough for me to pass up the "62 year old" window? Logic does dictate the next window at 65. I'm guessing the next year will really make the decision for me? My young heart wants to expand. My old bod wants to contract and downsize. One deciding issue is this crazy housing market?

Hate to tell you this but there is NO guarantee you will be here at 65.. Take YOUR money as soon as you can.. My EX father in law gave me this advice in my 20's, and I believe he was right....
AND its not 65 for you, its closer to 67......

 

[68BabyBlue]

First of all, a disclaimer: ideas presented here are for informational purposes only, and are not intended as, and should not be considered legal advice. That being said, picking a retirement date (assuming you have a choice in the matter, most people don't get one) is a major life decision. As an attorney, I have strong opinions on this, and think a couple billable hours with an elder law specialist before you pull the trigger could be the best purchase you ever make.

Ed has raised points about his health history that tip the balance toward 62. Other folks may need to do the exact opposite. I had the same primary care doctor for 15 years, and she advised me that I had "serious longevity risk" based on my numbers (top 5%), and family history - 3 grandparents lived past 89, other died at 83. She said work as long as I could. My elder law attorney said the same. Financial risk in retirement is that you will outlive your money. That needs to be considered in the light of your personal life expectancy.

 

[Hey-O]

I was union all my life. I did my job and was respected by all. The union and company would come to me for my opinion on issues they found they could not come to terms on, why, I was fair, honest, and never picked a side. I was first on the job and last to leave. Call it what you want, I look back now and can see many times I carried more than just my baggage, but, I wouldn't change a thing, I was blessed. Union stories run deep and many are true. I stood my ground and was busted more than once for undermining the union. Definition, getting done what a shop steward couldn't and making him look bad. My answer was always the same, **** you!! I was told by both sides that I got away with stuff no one could, but, I was loyal to all and that's what carried me through life. The real job was and will always be, working together for one common goal. Not all jobs work this way, I worked at getting it to work that way. I was 52 when I retired with almost 24 years, they found a 52 and 10 package for me. At least 52 years old and at least 10 years of service, tell you anything. At the end of the day, I was very blessed and I'm still very loyal and honest to this day. It worked for me!

 

[Cojohnso1]

Hate to tell you this but there is NO guarantee you will be here at 65.. Take YOUR money as soon as you can.. My EX father in law gave me this advice in my 20's, and I believe he was right....
AND its not 65 for you, its closer to 67......

Yup. That point is certainly known. 62 is first window. 65 is 2nd (Primarily because of health insurance.) 67 is 3rd for full SS. 70 is last for max benefits. It really comes down to one's own personal investments and assets. And do those meet retirement goals? At 62? In my case? Yes. They do meet minimum retirement goals and needs. (And of course there is no rule saying one can't continue to earn? Just by other means?)

 

[Ron H]

Man, you are old!

Was just out of high school then

 

[Slap Stick]

At 62 you may still earn but over a set amount (now about $18k) they take $1 for every two you earn.
At full retirement there is no earnings penalty. Earn all you want and draw full SS.

 

[Cojohnso1]

At 62 you may still earn but over a set amount (now about $18k) they take $1 for every two you earn.
At full retirement there is no earnings penalty. Earn all you want and draw full SS.

Yes. And a very valid point.

 

[Hey-O]

Tax on your SS is just wrong. Tax on tax on tax on tax........

 

[Ron H]

Taxes – look at the debt acquired over endless decades – not only fed…the country is so far in debt paying the interest is impossible. Hmm, not enough cash…presto raise the debt ceiling. How nice. Wish I could do dat. It’s stretched out to generations who won’t be born for decades. I’m debt-free and have about as good a credit rating as possible; we pay off our CC’s every month. Ya know what happens when ya don’t. We’re given offers constantly to borrow money. Sure, we could have a bunch more ****…but we try to stay within the mindset don’t spend what you can’t pay for cuz the interest will bury you making it harder to get out of it. CC interest rates are a legal form of robbery.

Yep, used to be gov spending millions, then billions…now trillions. Millions now appear as pocket change. And why is this? IMO, it’s because of the decades of bullshit spending, a good amount of which should have been spent wisely on the **** we’re now having to spend trillions on to fix…

 

[Budnicks]

Tax & spend mentality
of so-called leaders today

 

[marioceron]

Oh, yes! I know what you are talking about, Bro. I believe that almost everyone who worked in a large company has such examples that force to think that you should work without enthusiasm and it will bring you better results. With the help of this site, I have changed my job place and fortunately, this factor doesn't demotivate me now.