Finally time to retire

Sorry you have to retire under these circumstances but it happens to many of us. See the positive and enjoy the upcoming freedom.
 
Congrats Cujet!!! Don't take Social Security early. Unless you need it. Which I doubt you do.
That makes no sense. It's an individual decision. Everyone is different all kinds of variables to each end of the extreme.

Example, you assume he doesnt need it, if so then, it's a perfect time to take it early. Start getting back the money you poured into the system now instead of gambling that you will make it to 80 years old which is around the break even point/ Meaning take it at full retirement you will not collect more money until you reach 80 years old than if you retired at 62 and that is just starting to break even at that point.

In the meantime if you didnt need the money at 62 and didnt want to spend it on things you might have enjoyed while you are still mobile enough to enjoy them you could have put that money into a high rate savings or a mix of Roth IRA until full retirement.

#1 #1 My story? I took it at 62, involuntarily paid into the system for 45 years. I want my money back before I leave this earth. Dont really need it right now, in fact it pretty much goes into savings. I dont know if I will live to the 80 break even point if I waited until 66. All I know is that check is deposited in my account every month and I am getting the return on the money I invested for 45 years rather than leave it with the government to give to someone else. What's more, feeling flush with constant income ( I have other sources) at my age, I am very young and enjoy life as much as I can worry free, when I get older? Who cares about having so much extra, you cant use it, your not mobile like you used to be. So to me, if you dont take it, you are gambling, leaving money with the government because you think your life will not end before the age of 80 and really for years after since that is the break even point. I know one thing I am certain of, I am FAR more active now then I will be when I am lets says 85.

#2 Another family member did the same as me 62 great person but our family history got the best of him, he has been enjoying life since retirement at 62 more than he ever thought possible. Great to see, every one of his days is PACKED with activity/sports. However just about everything medical has been done to keep his heart going and there are no other options, its even hard to type this but at age 70 he is already knowingly preparing his departure from this earth to make the transition for his wife easy. He was hoping to live another 8 to 10 years and we all wonder if he will make it another year or two, sadly he knows it too. Tough situation great guy.

#3 Time to collect Social Security is an individual choice. There is no right or wrong but it is more easy to retire at 62 if you DONT need the money, the sooner you start getting back what you put in the better as anything else is a gamble on all the money you invested into Social Security on how long you will live.
 
#2 Another family member did the same as me 62 great person but our family history got the best of him, he has been enjoying life since retirement at 62 more than he ever thought possible. Great to see, every one of his days is PACKED with activity/sports. However just about everything medical has been done to keep his heart going and there are no other options, its even hard to type this but at age 70 he is already knowingly preparing his departure from this earth to make the transition for his wife easy. He was hoping to live another 8 to 10 years and we all wonder if he will make it another year or two, sadly he knows it too. Tough situation great guy.
Is he a candidate for a heart transplant? They seem to work out pretty well.

Can people of ordinary means afford transplants in the US?
 
In regards to my post above ^^^ here is the official Social Security chart on how long the population will live.
If you look at it closely Subtract the amount of people at age 62 that are left alive at that time from that amount of people left alive around the age of 82. Chances are if you are a man 50% of you have died off between 62 and 82. I say this because the chart includes men and woman.
https://www.ssa.gov/oact/STATS/table4c6.html#fn2
 
That makes no sense. It's an individual decision. Everyone is different all kinds of variables to each end of the extreme.

Example, you assume he doesnt need it, if so then, it's a perfect time to take it early. Start getting back the money you poured into the system now instead of gambling that you will make it to 80 years old which is around the break even point/ Meaning take it at full retirement you will not collect more money until you reach 80 years old than if you retired at 62 and that is just starting to break even at that point.

In the meantime if you didnt need the money at 62 and didnt want to spend it on things you might have enjoyed while you are still mobile enough to enjoy them you could have put that money into a high rate savings or a mix of Roth IRA until full retirement.

#1 #1 My story? I took it at 62, involuntarily paid into the system for 45 years. I want my money back before I leave this earth. Dont really need it right now, in fact it pretty much goes into savings. I dont know if I will live to the 80 break even point if I waited until 66. All I know is that check is deposited in my account every month and I am getting the return on the money I invested for 45 years rather than leave it with the government to give to someone else. What's more, feeling flush with constant income ( I have other sources) at my age, I am very young and enjoy life as much as I can worry free, when I get older? Who cares about having so much extra, you cant use it, your not mobile like you used to be. So to me, if you dont take it, you are gambling, leaving money with the government because you think your life will not end before the age of 80 and really for years after since that is the break even point. I know one thing I am certain of, I am FAR more active now then I will be when I am lets says 85.

#2 Another family member did the same as me 62 great person but our family history got the best of him, he has been enjoying life since retirement at 62 more than he ever thought possible. Great to see, every one of his days is PACKED with activity/sports. However just about everything medical has been done to keep his heart going and there are no other options, its even hard to type this but at age 70 he is already knowingly preparing his departure from this earth to make the transition for his wife easy. He was hoping to live another 8 to 10 years and we all wonder if he will make it another year or two, sadly he knows it too. Tough situation great guy.

#3 Time to collect Social Security is an individual choice. There is no right or wrong but it is more easy to retire at 62 if you DONT need the money, the sooner you start getting back what you put in the better as anything else is a gamble on all the money you invested into Social Security on how long you will live.
I know very few people who waited until their full retirement age to collect Social Security. Even if they didn't need the money. Many have the same reasons you posted. One of the things I don't believed you mentioned is the viability of the program itself-in its present form down the road. So-take what you can now before things happen.
 
I know very few people who waited until their full retirement age to collect Social Security. Even if they didn't need the money. Many have the same reasons you posted. One of the things I don't believed you mentioned is the viability of the program itself-in its present form down the road. So-take what you can now before things happen.
Yes, wife has a couple years to go and she is ready to jump on it with that also on her mind. :unsure:
 
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Is he a candidate for a heart transplant? They seem to work out pretty well.

Can people of ordinary means afford transplants in the US?
#1 I wasnt even aware a 70 year old would qualify. I assume since he has some very good doctors, one of which I think is known in the field nationally if not even internationally they would have mentioned it. But maybe not. Based on your post I did a quick search and shocked to see that a 70 year old has a survival rate the same as an 18 year old.
I just brought it up with another family member but not him at this point. But just like a 70 year old and an 18 year old you need to qualify, not everyone does. It has to do with underlying conditions/survivability so not to waste a heart. Im not sure how diabetes plays into this if anything.

#2 Yes, transplants are covered under health insurance and for people over 65 they are covered under Medicare

#3 Boy the range of subjects in BITOG !

Great post, this is what a fast 5 minute search showed:
https://www.sciencetimes.com/articl...age-limit-70-years-older-similar-survival.htm

https://pubmed.ncbi.nlm.nih.gov/22172859/
 
Just told the chief pilot I'm leaving. I've talked about this here before, but finally talked openly with the chief pilot today, ... ...

I need to propose a retirement letter, in my typical no fluff style
Suggestions?
Cujet I hope you do well in retirement. I would give your workplace a months notice if possible or at min 2 weeks.

I "resigned" by letter of "notice of resignation and retirement" from my last govt contractor job due to stress, six days a week job and a toxic workplace environment back in 2018. I had been givng my boss a heads up for months that the day was coming. He didn't take me seriously.

Keep the letter very short and to the point - no need for explanations or a reason; you will have an exit interview and you can embellish there if you wish.

It is very very important to have continuous credible heath care up till the point you are Medicare part B eligible and have that cutover. Know that you MUST apply for the "free" Medicare Part A in a timely fashion, I would do so 3 months before your 65th birthday. Its simple on line process. You may certainly be eligible for disability. I would explore that first.
When ready, Social Security application should be done face to face at your assigned regional SS office.

Wishing good luck and good travels
 
I "resigned" by letter of "notice of resignation and retirement"
Thanks, those are the right words. Along with an earlier post that simply states "I'm not as well as I had hoped" is the proper and succinct way to do this. The good news is, the chief pilot knows it is coming, and I will leave it up to him to tell the big boss. Chain of Command and all that.

My wife is pushing me to apply for disability. I don't like the idea. The fact that I'm clearly having a tough time doing my job, does not mean I'm missing both legs.

We don't have a HR department. I work in a Flight Department, with 2 employees, the chief pilot and myself. I work for a Billionaire. I'm expected to wear many hats and to work every waking minute.
 
Thanks, those are the right words. Along with an earlier post that simply states "I'm not as well as I had hoped" is the proper and succinct way to do this. The good news is, the chief pilot knows it is coming, and I will leave it up to him to tell the big boss. Chain of Command and all that.

My wife is pushing me to apply for disability. I don't like the idea. The fact that I'm clearly having a tough time doing my job, does not mean I'm missing both legs.

We don't have a HR department. I work in a Flight Department, with 2 employees, the chief pilot and myself. I work for a Billionaire. I'm expected to wear many hats and to work every waking minute.
Enjoy your retirement, you've earned it for sure. Also you've paid into the disability benefit system, and situations like yours is what it is there for, so don't feel any shame getting some of your money back.
Your employer has more money than they know what to do with, but I'm sure they still pay the least amount of taxes they can... Neither one of you needs to donate money to the government.
 
Just told the chief pilot I'm leaving. I've talked about this here before, but finally talked openly with the chief pilot today, and despite some rather heated arguments on other matters, he mentioned that he is working on additional personnel, to work with, and eventually replace me when I leave. I'm in my early 60's, and it's time. I have multiple autoimmune issues, and I am slow and tired. Made a real mistake the other day, which was not good. First time for that, ugh. I want to finish out my career without problems.

I'm overwhelmed and I've let it be known, both via email and verbally. So to me, it's a bit of contentious retirement. However, objectively, it's time. I am very slow.

The way I see it, (if they don't let me go first) I could leave at the end of the year, or end of May. As our flight department winters in Florida, where I live and the work load is lighter, as in NORMAL, not easy.

I need to propose a retirement letter, in my typical no fluff style


Suggestions?
My advice is to do what is best for you, there is no loyalty in employment. My daughter is an operating room nurse who was working multiple 25hr shifts each month doing open heart surgery. Management told her they would improve staffing. She left 2 years ago and they still have the same staffing issues. She did not want to make a REAL MISTAKE that could endanger someone and lose her license. Not to mention having that on her conscience.
 
In one of the many roles during my career I reviewed disability claims. Based on what you describe I think you might qualify.

The usual qualification for the first 2 years is (something like) "unable to perform the major roles of his/her current position". Beyond 2 years it expands to "any commensurate position for which the claimant is suited". Commensurate means with an income somewhat comparable to the last position.

A reviewer would however only see your doctor's report and test results if any.

I don't think it would hurt to apply.
 
Sadly it seems that’s no longer true. For men in the USA, it is now down to 73 years. Chronic disease is cited as a major factor. My health issues have grave consequences. I’m already having significant nerve damage. trying to address that. But it’s the heart that fails due to fatigue, that is a huge risk for me. Already happened twice.

https://www.cnbc.com/2023/03/01/why...-than-women-on-average-and-how-to-fix-it.html
Some of that lowering average is due to young people dying from overdoses.
 
Thanks, those are the right words. Along with an earlier post that simply states "I'm not as well as I had hoped" is the proper and succinct way to do this. The good news is, the chief pilot knows it is coming, and I will leave it up to him to tell the big boss. Chain of Command and all that.

My wife is pushing me to apply for disability. I don't like the idea. The fact that I'm clearly having a tough time doing my job, does not mean I'm missing both legs.

We don't have a HR department. I work in a Flight Department, with 2 employees, the chief pilot and myself. I work for a Billionaire. I'm expected to wear many hats and to work every waking minute.
@Cujet
It wouldn’t hurt to apply for SSDI. You don’t have to be missing both legs to apply and get approved.
Best of luck on whatever you decide.
 
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