SS and retirement question

[Citydude]

I spent 40 years in the military with 20 years as a First Sergeant. I was expected to be in control of everything around me. I still tend to be the one in the group that takes charge rather than the one that stands back. But I'm working on it.

I have coffee with a retired Sargent Major. I know what your talking about :thumbsup:

 

[ovrszd]

I have coffee with a retired Sargent Major. I know what your talking about :thumbsup:

We can't help it, conditioning training...

 

[MacLawn]

Wow ovr, 40 years in military?? I didn't know that was possible! Anyway, yep, I reckon ye've been conditioned all right. How long ye been retired?

 

[JDgreen227]

I spent 40 years in the military with 20 years as a First Sergeant. I was expected to be in control of everything around me. I still tend to be the one in the group that takes charge rather than the one that stands back. But I'm working on it.

Back in the mid 70's to mid 80's, my first line boss was a retired Army Sergeant and his way of telling us what to do was to yell at us...after we realized that was ingrained he turned out be a darn fair man to work for....give yourself credit for being the one who wants to be in charge because sometimes nobody wants that role.

 

[Larro Darro]

I'm 8 years and 8 months away from 62, but my wife will retire the last day of 2016. If you asked her, she would say 2 years 7 months and 25 days. She will be 63, and draw SS plus her retirement. When I file, I'll file on hers, since she makes the money in the family. I do love my job, and worry about spending so much time at home, but I'll take my chances.

Larro

 

[ovrszd]

Wow ovr, 40 years in military?? I didn't know that was possible! Anyway, yep, I reckon ye've been conditioned all right. How long ye been retired?

I was drafted into the Active Army in 1971, NCO Academy, tour in Vietnam, got out for 2 years, then went into Army Reserves thinking how hard can that be, Weekend Warrior and all. My unit logged over 100,000 man-days downrange while I was First Sergeant. Desert Storm, Haiti, Bosnia, Kosovo, Iraq multiple times, Afghanistan. I logged 42 months in Combat Zones. My Reserve unit is a Postal unit. Soldiers gotta have their mail..... Forced retirement at 60. I was ready. Fortunately for me my unit has not Deployed since I retired. I would have struggled with that. I retired in December 2011.

 

[Citydude]

I was drafted into the Active Army in 1971, NCO Academy, tour in Vietnam, got out for 2 years, then went into Army Reserves thinking how hard can that be, Weekend Warrior and all. My unit logged over 100,000 man-days downrange while I was First Sergeant. Desert Storm, Haiti, Bosnia, Kosovo, Iraq multiple times, Afghanistan. I logged 42 months in Combat Zones. My Reserve unit is a Postal unit. Soldiers gotta have their mail..... Forced retirement at 60. I was ready. Fortunately for me my unit has not Deployed since I retired. I would have struggled with that. I retired in December 2011.

Thank you for serving! You deserve a little R&R.

 

[MacLawn]

Good job ovr! I'm Vietnam vet, '69-70, in those days, we did one year there.

 

[ovrszd]

Good job ovr! I'm Vietnam vet, '69-70, in those days, we did one year there.

My tour was short because we were pulling out. 8 months in 1972. Started with the 7/1 Air Cav in Vinh Long. They stood down and I didn't have enough time to go home so went to 196th Inf Bde in Da Nang. They stood down and didn't have enough time to go home so went to 50th Inf in Da Nang. Deros'd from them. Got our butt kicked in Da Nang. Good times.

 

[Ken]

Yep, I'm sure the medical insurance issue is why many have to wait until at least 65. I'm already 65 and on Medicare and have great insurance too, so that's not an issue for me.

Funny timing, but just yesterday I attended a colleague's retirement banquet! He's 66, and actually retired December he said. Unless he had a big inheritance, we're about in the same financial boat since his income, etc. was same as mine. Well, I reckon if he can do it, I can too. Only thing is my work is so much at my own pace, and me wife loves what she does so much, it's no problem for us to keep on a while longer!

No one has the same figures or years of paying into SS that goes into the federal bucket for all agency's to use . So for me age 58 was a deciding time to retire from the employer I was with. Going toward encouraging workers to take a "early out pay out" the co. agree to pay my insurance until my age of 65.

Took the lump sum and retired Remember the Fed. Taxes They take the cream off the milk first.
then begin making more than expected on side jobs and so again paying into SS Fed. State and County taxes. a little extra for myself. so at age 62 took the
SS payment and quit all the side work to enjoy the retirement Now when you get the check it is called Federal Benefit payment not Social Security.
And the yearly increase fails to keep up with the cost of living.
So have the check sent to account just to pay the Utilities and monthly premium's sometime pay a Wal Mart. bill

Taking money from a 401 is Tax able
and by age 70 forced to remove % of funds or take a whopping penalty.
Now 20 years of retirement would not change what was done or make changes except when my wife reached 65 she filed on my SS and draws almost as much as I since I took early benefits.
If you have to figure all expense's for the next # of years before deciding maybe keep working I can use the deposited money. for my Federal Benefit Payment.
Everything is subject to change seldom for the good of the person drawing retirement.
ken