The Lounge Board

Joined: 09/08/2002 Posts: 7091
Likes: 722

What's this?

Just retired at 60...federal retiree- and overall...

....I'm making it fine so far. I have my fed "pension" (not a ton of $ - 23 yrs of federal service - worked for the Commonwealth of Virginia 14 yrs prior - have a little put away from that time) . I have the gov't health plan (my share of costs is the same as when I was working - feds pay most of it) and the feds (under FERS - the "new" retirement system vs the old Civil Service system) have a "bridge payment" if you retire under FERS prior to age 62 - so, I don't get SS, but I get this bridge payment till I'm 62, at which age I'm eligible to draw SS.
Otherwise, I have minimum bills - renting a small apt for now - am gonna hit the road full time in a camper trailer in a year, for a year or two - generally I will not have as many expenses as renting or owning a home -- generally.
I may get a part-time job sometime - not because I have to, but for "fun money" and to be active---but I want something that I don't have to make too many big decisions :) .

(In response to this post by WestyHokie)

Posted: 02/19/2020 at 09:16AM

PREV NEXT REPLY

Insert a Link

Enter the title of the link here:

Enter the full web address of the link here -- include the "http://" part:

Current Thread:

Any Loungers retire in your 50s? What were your key actions until SS? -- WestyHokie 02/19/2020 07:36AM

Not retired, but took a side job -- VaTechie 02/19/2020 5:00PM

Haven't had a "job" for 15 years. Can't wait for the wife to retire -- Nzane4vtNnc 02/19/2020 4:17PM

My dad retired at 60 -helped by 100% free health care for him/wife for life -- FfxStationHokie 02/19/2020 3:46PM

That is definitely the big unknown ** -- WestyHokie 02/19/2020 4:37PM

Retired @55. Answers to qs inside -- ColoVT82 02/19/2020 2:16PM

Retired from my job at 52 with full benefits (thanks Hughes Aircraft), then -- AZHokie59 02/19/2020 1:42PM

Too much hooker and blow debt to even consider retiring ** -- FfxStationHokie 02/19/2020 12:53PM

I retired at 55. I have a sponsor. -- Newt 02/19/2020 12:48PM

Retired on my 50th birthday almost 12 years ago. Made some good bank and... -- Major Kong 02/19/2020 12:02PM

NM** -- 133743Hokie 02/19/2020 11:43AM

Retired at 51. -- 133743Hokie 02/19/2020 11:40AM

That's some damn fine financial maneuvering, congrats. ** -- HokieNoVA 02/19/2020 1:23PM

First few years were stressful. But growing the firm's revenue YOY made -- 133743Hokie 02/19/2020 5:32PM

I'd LOVE to retire in my 50's. But the market would have to absolutely -- HokieNoVA 02/19/2020 11:12AM

Would love to but not practical and the current job may be -- fordham 02/19/2020 10:53AM

Retired at 58 (two and a half years ago) -- Hokerer 02/19/2020 10:35AM

1,3,&4 are huge for stability.... 2 is for comfort. -- HokieSignGuy 02/19/2020 10:54AM

If you love your job, don't retire. Take more time off, but don't retire. ** -- TechMomof2 02/19/2020 10:06AM

Says the female. Seems they're terrified of having to spend more time -- Hokerer 02/19/2020 11:08AM

Ha Ha! Also, his hobbies are too expensive! ** -- TechMomof2 02/19/2020 11:09PM

Regarding healthcare, my understanding is you have to use healthcare.gov -- Hokie360 02/19/2020 10:01AM

Nope, you can buy individual plans directly -- VaTechie 02/19/2020 5:05PM

I've looked on major carriers actual websites, and did not find any full -- Hokie360 02/19/2020 5:23PM

Dec 15 is sign up time -- VaTechie 02/19/2020 5:49PM

Thanks. I was going to assume about $2K to be conservative on the theory -- Hokie360 02/19/2020 5:57PM

I really did a deep dive this year on insurance -- VaTechie 02/19/2020 6:17PM

Good info, thanks; yeah, employer plans are not cheap to continue ** -- WestyHokie 02/19/2020 10:39AM

Just retired at 60...federal retiree- and overall... -- TD-Tech 02/19/2020 09:16AM

Didn't wait two more years to get 10% more? ** -- `lag 02/19/2020 10:54AM

Try rideshare driving - make a few bucks, work when you choose. ** -- PhotoHokieNC 02/19/2020 09:21AM

Oh - you mean like Uber, right? ** -- TD-Tech 02/19/2020 09:24AM

Yes. I have friends & acquaintances who love doing it. -- PhotoHokieNC 02/19/2020 09:28AM

Thought about it-might-I'm in blacksburg, so how many... -- TD-Tech 02/19/2020 09:32AM

Buy a Honda Element. It has rubber floor mats instead of carpet, so... -- EDGEMAN 02/19/2020 10:04AM

I can hose out my Fj Cruiser-gotta put waterproof seat covers in ** -- TD-Tech 02/19/2020 10:15AM

You're all set! ** -- PhotoHokieNC 02/19/2020 11:06AM

Wouldn't take drunks in a FJ Cruiser, but a Honda... ** -- EDGEMAN 02/19/2020 10:39AM

You don't have to work during the peak barfing hours. -- Hokie360 02/19/2020 09:36AM

As I understand it, fares are higher during barf times (after 5pm?). -- PhotoHokieNC 02/19/2020 10:02AM

That could be incentive-plus-drunk college chick stories! :) ;) ** -- TD-Tech 02/19/2020 10:15AM

True-I could make them ride in the back cargo area-I can hose that out ** -- TD-Tech 02/19/2020 09:38AM

You mean, like a commuter slug line? ** -- TD-Tech 02/19/2020 09:23AM

You can draw on your last employer's 401k if retired at 55 or older. ** -- Hokie360 02/19/2020 09:12AM

Isn't that only if you are forcibly retired? I'll have to check that again ** -- WestyHokie 02/19/2020 09:18AM

Had an advisor from my current 401k tell me that. They were suggesting -- Hokie360 02/19/2020 09:22AM

If you roll it into a regular IRA don’t you have a wider selection of -- CPRVHokie 02/19/2020 09:29AM

That's probably true, but then you couldn't pull until age 59 (or 59-1/2?) -- Hokie360 02/19/2020 09:34AM

Retirement's for chumps. -- PhotoHokieNC 02/19/2020 08:32AM

Or -- PhotoHokieNC 02/19/2020 08:35AM

Or (2) -- PhotoHokieNC 02/19/2020 08:35AM

This is the PapaHurlz school of thought. Turning 80 and still working. ** -- Hurley09 02/19/2020 08:44AM

My dad is retiring next year after 50 years with Lockheed -- typed by ben 02/19/2020 09:18AM

Lottery tickets! ** -- EDGEMAN 02/19/2020 08:13AM

...look up “Rule of 55” ** -- chumley 02/19/2020 08:07AM

I did, too late for me, but interesting ** -- `lag 02/19/2020 10:56AM

Well.... -- Bburg Native 02/19/2020 07:46AM

Just retired at 60...federal retiree- and overall...

Insert a Link

Tech Sideline is Presented By:

Our Sponsors