According to my calculations, I can afford to retire approximately 5 years after I die.
My Retirement
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I have been retired for over a year now. I have done a bit of minicab/private hire work and found it to not really a worth it, did some medical cover work for the Olympics and still do medical cover occasionally for events etc.
Sadly a 20 yr Ambulance service pension isn't that great, £600 a month!
I congratulate any public sector worker that gets to retirement.
And I also thank you for your service.
I personally feel that public sector workers are amoungst the least thanked in the workplace.
And very often a stable income and reasonable pension is the only reward, certainly the pay in the UK is not as good as it should be.
I would advise you to find a little side job that gives you some form of personal satisfaction as years of public service make you want to do the right thing, and a job that is just clock in and clock out will drive you to distraction!
Or at least it did me!
Sadly a 20 yr Ambulance service pension isn't that great, £600 a month!
I congratulate any public sector worker that gets to retirement.
And I also thank you for your service.
I personally feel that public sector workers are amoungst the least thanked in the workplace.
And very often a stable income and reasonable pension is the only reward, certainly the pay in the UK is not as good as it should be.
I would advise you to find a little side job that gives you some form of personal satisfaction as years of public service make you want to do the right thing, and a job that is just clock in and clock out will drive you to distraction!
Or at least it did me!
I m afraid nothing s safe anymore . to respond to Rock_Hudstone
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Originally Posted By: oilmaven
According to my calculations, I can afford to retire approximately 5 years after I die.
LOL I figure right about when I die or a week before. For me the key to a long life will be to keep working.
According to my calculations, I can afford to retire approximately 5 years after I die.
LOL I figure right about when I die or a week before. For me the key to a long life will be to keep working.
I have worked for the State of Texas, in various capacities, and am semi-retired as of 8 years ago (2004) just before any ill effects by a national bill that was signed into law that year.
I am "Grandfathered" and protected.
Now I work for another governmental entity, where I had worked for many years ago and am just having "fun" working each day until I am 62 and can "retire" again and do whatever I want to do.
I am extremely thankful for each day and look forward to my second retirement.
Congratulations to the newly minted retiree! Hope you have a wonderful set of "Golden Years" that will last a very, very long time!
I Wish You All the Best in Your Retirement Years!
I am "Grandfathered" and protected.
Now I work for another governmental entity, where I had worked for many years ago and am just having "fun" working each day until I am 62 and can "retire" again and do whatever I want to do.
I am extremely thankful for each day and look forward to my second retirement.
Congratulations to the newly minted retiree! Hope you have a wonderful set of "Golden Years" that will last a very, very long time!
I Wish You All the Best in Your Retirement Years!
Just to answer a few of the Questions raised
***Do you have to work with your monthly pension income, or do you just want to find something to stay busy ?
Well, the way me and the wife have it figured my pension will take care of most of the mortgage,her check will take care of the rest and the household bills.If I want to do more than sit at home broke and get an allowance from the wife I will have to work at something.
***Seems to be another regionality disconnect going on here, with retirement being possible around 50.
With the state of Georgia you can retire after 30 yrs of service regardless of age,under the old retirement system.Roughly you get 2% of your working salary for each year of work up to a maximum of 64%.The new retirement system is not so good...roughly 1% for each year of service.
***Where is the retirement income stream coming from, to last so long ?
All State of Georgia employees pay into the retirement fund,which invests it etc.The fund is very well managed.
***Hope that pension is safe with the state of our country.
Georgia is one of the few states that has kept a very high credit rating and some fiscal resposibility.Outside of teachers,state employees have only had 2 payraises in the last 10 years and those were only 1.5% or so.This has let us avoid mass layoffs and for the most part furlough(days w/out pay).State employees are not scheduled for any raises in the forseeable future.Our salaries have eroded badly measured against inflation .But we had jobs.That is also a factor in retiring,the erosion of the paycheck.Why continue to work at a job where you continually face a loss?
I can continue coverage of the state health,vision and dental insurance at current rate.It is not the best insurance but it is there.
***Do you have to work with your monthly pension income, or do you just want to find something to stay busy ?
Well, the way me and the wife have it figured my pension will take care of most of the mortgage,her check will take care of the rest and the household bills.If I want to do more than sit at home broke and get an allowance from the wife I will have to work at something.
***Seems to be another regionality disconnect going on here, with retirement being possible around 50.
With the state of Georgia you can retire after 30 yrs of service regardless of age,under the old retirement system.Roughly you get 2% of your working salary for each year of work up to a maximum of 64%.The new retirement system is not so good...roughly 1% for each year of service.
***Where is the retirement income stream coming from, to last so long ?
All State of Georgia employees pay into the retirement fund,which invests it etc.The fund is very well managed.
***Hope that pension is safe with the state of our country.
Georgia is one of the few states that has kept a very high credit rating and some fiscal resposibility.Outside of teachers,state employees have only had 2 payraises in the last 10 years and those were only 1.5% or so.This has let us avoid mass layoffs and for the most part furlough(days w/out pay).State employees are not scheduled for any raises in the forseeable future.Our salaries have eroded badly measured against inflation .But we had jobs.That is also a factor in retiring,the erosion of the paycheck.Why continue to work at a job where you continually face a loss?
I can continue coverage of the state health,vision and dental insurance at current rate.It is not the best insurance but it is there.
Honestly I thought the definition of retirement was no longer working? If a person has to work for extra money when they're retired, then they're not retired, at least that's the way I look at it. A lot of the painters I know who claim to be retired, but still work 3 days a week for extra money. What's that all about? LOL I guess I've retired too, I just don't realize it.
I applied for Social Security at age 62 and applied for Medicare last year, so I am officially retired, but I still work part time couple of days a week plus doing some volunteer work. I can't see myself sitting in front of the television doing nothing for the rest of my life.
Congrats! It's my life's goal to be completely financially secure by age 50 and to possibly retire at that point. That in no way means I'll be loaded or have all kinds of niceties, just that with a cheap, frugal lifestyle, I can keep a roof over my head and be able to do the things I like.
Originally Posted By: Shannow
Seems to be another regionality disconnect going on here, with retirement being possible around 50.
Where is the retirement income stream coming from, to last so long ?
Unionized government employees get lifetime pensions often with full health care thrown in, terms and benefits vary and there have be some attempts at reform. Cops, firemen and teachers typically have the most generous packages.
The income stream is mainly coming from the tax payers as the employee contributions fall far short of the benefits paid out. Thus, there are unfunded liabilites to the tune of trillions of dollars, although some state pension funds are in better shape than others.
Seems to be another regionality disconnect going on here, with retirement being possible around 50.
Where is the retirement income stream coming from, to last so long ?
Unionized government employees get lifetime pensions often with full health care thrown in, terms and benefits vary and there have be some attempts at reform. Cops, firemen and teachers typically have the most generous packages.
The income stream is mainly coming from the tax payers as the employee contributions fall far short of the benefits paid out. Thus, there are unfunded liabilites to the tune of trillions of dollars, although some state pension funds are in better shape than others.
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
Folks get full pension after 20yrs of employment here....I am not bashing the workers but rather the irresponsible politicians who have allowed this.
Folks get full pension after 20yrs of employment here....I am not bashing the workers but rather the irresponsible politicians who have allowed this.
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you need to get a hobby. the one i got is sleeping late.
Some pensions are running on fumes making promises they can never fulfill.
I was reading on CNN they interviewed 1000 people and nearly a third of them plan to work till they are 80 years old.
http://money.cnn.com/2012/10/23/retirement/delaying-retirement/index.html?iid=HP_LN
I was reading on CNN they interviewed 1000 people and nearly a third of them plan to work till they are 80 years old.
http://money.cnn.com/2012/10/23/retirement/delaying-retirement/index.html?iid=HP_LN
Originally Posted By: GMFan
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
No, no, your getting wasteful political boondoggles mixed up.
The $12 bridge tolls, (going up to $13 next week) are to fund the rebuilding of the World Trade Center, which is of course way over budget.
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
No, no, your getting wasteful political boondoggles mixed up.
The $12 bridge tolls, (going up to $13 next week) are to fund the rebuilding of the World Trade Center, which is of course way over budget.
Originally Posted By: Rock_Hudstone
Originally Posted By: GMFan
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
No, no, your getting wasteful political boondoggles mixed up.
The $12 bridge tolls, (going up to $13 next week) are to fund the rebuilding of the World Trade Center, which is of course way over budget.
So insurance paid for both buildings...why isn't the owner, or anyone else rebuilding, and why the need for a toll ?
Originally Posted By: GMFan
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
No, no, your getting wasteful political boondoggles mixed up.
The $12 bridge tolls, (going up to $13 next week) are to fund the rebuilding of the World Trade Center, which is of course way over budget.
So insurance paid for both buildings...why isn't the owner, or anyone else rebuilding, and why the need for a toll ?
It would be a good thing Drew99GT
Originally Posted By: Rock_Hudstone
Originally Posted By: Shannow
Seems to be another regionality disconnect going on here, with retirement being possible around 50.
Where is the retirement income stream coming from, to last so long ?
Unionized government employees get lifetime pensions often with full health care thrown in, terms and benefits vary and there have be some attempts at reform. Cops, firemen and teachers typically have the most generous packages.
The income stream is mainly coming from the tax payers as the employee contributions fall far short of the benefits paid out. Thus, there are unfunded liabilites to the tune of trillions of dollars, although some state pension funds are in better shape than others.
Starting pay for Corrections Officers around here is pretty dreadful, single digits per hour! The benefits are the big deal, and rightfully so. I don't begrudge anyone who puts up with society's worst, and who puts in their required time to get their pension... thinking ahead for the long haul. Similarly, the "health insurance/ benefit breadwinner" is as important to the family as the mortgage payer; in my household it's a bigger chunk of money every month. Working for the state nicely compliments a spouse who's got a business startup idea, for example.
Congrats, OP, for getting out while the getting's good.
Originally Posted By: Shannow
Seems to be another regionality disconnect going on here, with retirement being possible around 50.
Where is the retirement income stream coming from, to last so long ?
Unionized government employees get lifetime pensions often with full health care thrown in, terms and benefits vary and there have be some attempts at reform. Cops, firemen and teachers typically have the most generous packages.
The income stream is mainly coming from the tax payers as the employee contributions fall far short of the benefits paid out. Thus, there are unfunded liabilites to the tune of trillions of dollars, although some state pension funds are in better shape than others.
Starting pay for Corrections Officers around here is pretty dreadful, single digits per hour! The benefits are the big deal, and rightfully so. I don't begrudge anyone who puts up with society's worst, and who puts in their required time to get their pension... thinking ahead for the long haul. Similarly, the "health insurance/ benefit breadwinner" is as important to the family as the mortgage payer; in my household it's a bigger chunk of money every month. Working for the state nicely compliments a spouse who's got a business startup idea, for example.
Congrats, OP, for getting out while the getting's good.
Originally Posted By: GMFan
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
Folks get full pension after 20yrs of employment here....I am not bashing the workers but rather the irresponsible politicians who have allowed this.
Same here. People work a state job, retire with a pension, then grab another state job, and double down on the taxpayers.
It's just ridiculous.
Double dipping pensioners have financially ruined NY state and is one of the reasons I hope to leave this state soon...after paying the $12 toll to cross the bridge to fund the pensions.
Folks get full pension after 20yrs of employment here....I am not bashing the workers but rather the irresponsible politicians who have allowed this.
Same here. People work a state job, retire with a pension, then grab another state job, and double down on the taxpayers.
It's just ridiculous.
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