215 Days to Go

Tim Polzin · 09-02-2008, 09:31 AM

Just handed in my notice. I retire on June 30, 2009. That will be 37 years 3 months with the same employer AND a defined benefit pension.

Needless to say, I'm looking forward to it.

Going to need a project car soon.

Tim

Jim727 · 09-02-2008, 09:33 AM

Bravo.

pwd72s · 09-02-2008, 09:35 AM

You're gonna love it...

Les Paul · Les Paul's Garage

That is my exact retirement date too. Looking forward to it. I will be stripping the 356 down to metal and repainting it myself.

onewhippedpuppy · 09-02-2008, 09:42 AM

C O N G R A T S ! 37 years, that's pretty damn impressive.

jcommin · jcommin's Garage

Congrats!!!

You are a dying breed; defined benefits after retirement. Hope it doesn't get tampered with. I wanted to retire early but that's a distant memory - I don't have a defined pension.

All the best..........

rammstein · 09-02-2008, 10:04 AM

You have both my admiration and my undying jealousy. I want to trade places with you right now.

Man, imagine having every day to be in your garage and work on your car at your own pace, taking naps whenever you want.... god, you have it made my friend!

Porsche-O-Phile · Porsche-O-Phile's Garage

Very cool. Enjoy it! I hope to retire myself someday. Nice going!

dmcummins · 09-02-2008, 10:11 AM

I retired last year and it's been great. Congratulations.

Les Paul · Les Paul's Garage

I'll have 29 years when I go. My father in law started at the same place when it was new in 1952. Corporate sold out to cheap labor in China. Ok with me but sad for all the other guys close to going. And the company made record profits last year go figure.

red-beard · red-beard's Garage

Quote:

Originally Posted by Tim Polzin

Just handed in my notice. I retire on June 30, 2009. That will be 37 years 3 months with the same employer AND a defined benefit pension.

Needless to say, I'm looking forward to it.

Going to need a project car soon.

Tim

Consider a lump-sum payout and buy your own annuity...

stevepaa · 09-02-2008, 10:28 AM

enjoy it, well done.

legion · 09-02-2008, 10:30 AM

I'm shooting for 55.

Right now, I have a defined-benefit pension (vested), a 401k, and as a birthday present I opened a Roth IRA on Friday.

I know the defined-benefit pension makes it possible to retire at 65, so I see the 401k and Roth IRA as tools to get that number down.

stevepaa · 09-02-2008, 10:34 AM

it can be done at 55, my younger brother did it. But he was able to buy 5 years and also had contiburted heavily to his retirement plan at the same job for 30 years,

But if you ever change jobs, it becomes very difficult to do it early.

targa911S · 09-02-2008, 10:51 AM

Good for you. I retired 2 years ago at age 55. I can't even THINK about going back into the crappy job market and ****e a$$ corporate jerks. I gunsmith as a hobby, sell at flea markets and on flea bay. Getting my pension as well as the wifes. It will be even better at 62 when I get SS and my annuities start paying.

A few words of wisdom. Pay off EVERYTHING. You will be on a fixed income and if it can go wrong now it will.
Buy your project car now while you are still working and have the cash to start it.
Don't try to do everything at once, pace yourself. You have all the time in the world now.

Enjoy yourself you have earned it!

Ahhh napping!

Tim Polzin · 09-02-2008, 11:09 AM

Wow, thanks everyone.

Yes, everything will be paid off, including the new house we will be building next year. I wouldn't say I'm retiring early, well, maybe a little. I'll be 62 next year.

The house will be an interesting exercise. Although both of us are in great health, we're thinking ahead and plan to make the new place wheelchair friendly (and a heated three car garage).

As far as annuities are concerned, we are far better off with the pension.

Tim

cantdrv55 · 09-02-2008, 11:10 AM

Congrats! I have 18 years left.

targa911S · 09-02-2008, 11:36 AM

Quote:

Originally Posted by Tim Polzin

Wow, thanks everyone.

Yes, everything will be paid off, including the new house we will be building next year. I wouldn't say I'm retiring early, well, maybe a little. I'll be 62 next year.

The house will be an interesting exercise. Although both of us are in great health, we're thinking ahead and plan to make the new place wheelchair friendly (and a heated three car garage).

As far as annuities are concerned, we are far better off with the pension.

Tim

Good thinking on the house. When I retired we moved here to PA where it's cheaper to live but I bought a ranch style house as my wife has a bad back and I'm sure she will be wheel chairing before we go to "The Home". Also planning a new home levels the playing field as far as routines. You get to start all over planning new ones and that's a good thing. You will get bored once in a while but it sure beats working for the man.