# Welcome to AAC Retirees Club

#### dl324

Joined Mar 30, 2015
12,915
but having a 14 yo in high school means waiting to at least until after she graduates HS to keep her medical coverage on a company plan.
I wish I could have worked longer to have the medical benefit, and the money. A careless 20 year old girl had other plans for me. Early retirement when I was at peak of my earnings and pain for the rest of my life.

#### killivolt

Joined Jan 10, 2010
800
There are lots of factors to consider. Life expectancy and taxes are two. Another is "last day of service." That may not affect all plans, but some plans base the benefit (up to a limit) on the last day of service. The net effect of that is, if you take vacation and begin retirement while on vacation, your benefits may be reduced. I always advised people who wanted to do that (I did not object to it ever), to come in on their last day for their retirement party.

Of course, no work got done on that day, but it satisfied the rule.
Ya, mine is based on that, I have to work to Dec 31st but not a day longer. I have about 11 days sick leave that they won't pay me out, but I have 15 days Vacation I'll take out as income. I have 60 to 90 days before the Pension kicks in, went to the plumbing store yesterday to help my brother fix a kitchen sink, I know the owner pretty well, maybe I can get a part-time job selling Plumbing parts, I told the clerk I can't lift over 50lbs, he looked at me and said that's what we're here for.

I'm getting good info ahead of time, I'd rather trust people here on this site, rather than some social network sight.

#### gerty

Joined Aug 30, 2007
1,301
I have to work to Dec 31st but not a day longer.
That was my retirement date also, but 2 years ago... Since then I've stayed busy with being a Constable (volunteer position here in TN) and I'm still active in the Rescue Squad. Turned 68 last October.. Don't know how I had time to go to work before retirement..

#### SamR

Joined Mar 19, 2019
3,449
I had an uncle who after he retired all his buddies would say "Sam's retired now he has time to do it." So in addition to the Honey Do's he had Buddy Do's also. So he went and got a real estate license just so when they called him up to do something he really didn't want to do he could say "sorry I have to show a house that day." Plus the added benefit he actually made some money doing it.

#### killivolt

Joined Jan 10, 2010
800
Dick was 69 and close to 70 while I was 62 close to 63. He confides in me he is scared about retiring, so worried the guy is seeing a psychologist (shrink) about his anxiety. I couldn't wait to get my stock share payout and be gone and this guy is seeing a doctor?
I get it, I put in 10 applications a day, got turned down for jobs I thought I was skilled in, don't know if it's my age or what. One was repairing Electric tools for a prestigious company. Benefits, Time off, Pension. The other was a postal job, Clerk 1. I was looking for low impact, 20 pounds or less, but as the applications kept coming back denied I started to wonder. Because my long term plan is to work till I'm 70, preferably at a post that I could get up in the morning for.

I help friends with home wiring projects, I enjoy the sunshine summer days on the rifle range,
Ron
So, I was so desperate, I went to a friends TV repair shop to ask for Employment for at least 3 months until my Pension kicks in. Suddenly I walk into his location and shelves minimal no TV's, a clean room? What the, I thought? I looked into his office and it was bare. My heart sunk, I looked at a shelf and seen a gun barrel, ah.... I thought cool, I called out and a women came to me from the back room, when I asked about my friend "Did Keith retire?" she said, yes again my heart sunk.

So, I asked, you wouldn't happen to be looking for help would you? she said, go talk with Zach in the main office, Ok I said, I walk over when suddenly a man appears from the back room, I thought he looks important, (Thinking it was Zach) I put my hand out and told him, hi, my name is "KV" you wouldn't happen to need help would you? He said, that's funny yes I do, I told him I used to work for "Action Target" shooting range company.

He said, I'm very familiar with Action Target, he said, Jordan used to work for them, he's just over here. We walked back to my friends old building, in the back is a small gun assembly, there were benches with 3 people putting together AR15's. My heart jumped, he introduced me to the lead assembler, all of them ex-military, I was in hog heaven. He said, I found the new person we needed. I shook hands with the lead, it was a whirlwind, I thought did I just? as we walked back over to the main building, he called out to "Zach" could you get the new hire paper work started? I looked at him, (Thinking) did I just did get hired? OMG I thought. Maybe a dream job, post electronics !!!!! I was jumping up and down inside, couldn't wait to tell my Brother.

So, I fully retire at the Uni Jan 1st, then I go right to work, I have 90 days to prove myself, providing he has the work afterward, I'll be on Full time after that, but what the heck no matter either way I have a guarantied employment for at least 90 days. He said, my name is (.......) I own the company. I thought Holy Cheeze and Crackers, a very positive greeting, made me feel at home. I think I made a good impression. Maybe I'll be a worthy gun builder. I wan't to continue education about Gun building and hopefully learn the sales end as well as other area's I can help out in, I want to know who is doing the CCTV and security also. I'd like to learn it top to bottom, so they can see my full value, I'm back into Mechanical which I enjoy, it would be nice to this till I'm 70. Cause it will take that long to build trust as well as be support to the company and increase profit margins.

But, ya. it's been awhile since I've lost sleep over my financial situation. It's not a lot of money, but to get paid for something you want to get up in the morning is important. I'd lost that at the Uni 2 years ago.

Funny thing is the owner said, I was just going to post that job today, I said, there wasn't anyone that I will be disappointing is there? he said no I only told one person today about the position, he said: Do you know how fast I can fill this position? "This is a position so many people want to do"

I thought to myself, ya, I just got a job before he even posted it. LOL

Have a good one.

Merry Christmas and Happy New Year to all you young timers out there.........

kv

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#### dl324

Joined Mar 30, 2015
12,915
If I take Social Security at age 66.6 I only get $1278 but if I wait it’s$1789
What income range and number of work credits do you need to have to get $1300? My last statement said I'll be closer to$2900 at FRA (this summer ).

EDIT: Once you apply for Medicare, you can no longer get a benefit statement from ssa.gov...

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#### SamR

Joined Mar 19, 2019
3,449
Good to hear. My experience was the absolute opposite when I was RIFed. Soon after I went to all the major industries in the area resume in hand looking for process control/automation control work. No interest so I went to one of the local major trade shows. Saw a lot of my old friends and sales reps I used to buy from but the same no-deal. No one was interested in a near retirement age well-experienced engineer. I ended up teaching high school science at a private school for a few years and the kids loved me but once again RIFed. At least then I was 61 and my wife was still working as a teacher so we got by. Luckily she has an excellent retired teacher's insurance plan because that was when I was first diagnosed with prostate cancer and had the CyberKnife treatment and then soon after lost my left kidney to cancer. Not many want to hire us old farts.

#### MrChips

Joined Oct 2, 2009
23,861
Hey kv, good story. Hope all works out well for you.
Have a Merry Christmas and a great 2020 year!

#### dl324

Joined Mar 30, 2015
12,915
Not many want to hire us old farts.
Age discrimination is alive and well.

When I decided to retire after being injured in an auto accident, my Wife commented on how I got choked up when I told my attorney that I was going to retire because I could no longer do my job.

She didn't get it that I understood that I would never be gainfully employed again. She stopped working when our first child was born, so she essentially retired before she was 30.

#### killivolt

Joined Jan 10, 2010
800
What income range and number of work credits do you need to have to get $1300? My last statement said I'll be closer to$2900 at FRA (this summer ).
I had a business for about 15 years, it was failing. So, I went into the red so I lost a few years, since I have been at the Uni, my Salary increased to 52k which helped out or I would be getting even less. I felt that the business would return and I spent all that I had saved as well as selling my assets so my ex wouldn't get them.

I lost well over more money than I care to say. It actually triggered an audit. I felt like a fool when the IRS audit agent said, KV um is this a Business or a Hobby.

What a kick in the butt and a slap in the face, suddenly I went back to my location, sent the state a notice of my closure and my last quarterly. Picked up my fishing pole and told the tenant he could have everything, with is eye's popping out as a young upstart, he thought Geeeeeeeeee !!!!!!! I said, take that truck keep the inventory and parts, I'm done.

I learned business the hard way, school of hard knocks. I say don't do it, it hurts like a son of a beach. Going from over 5k a month to barely scrapping by, is not the way to go out, I should have seen where the rubber meets the road. But, didn't.

kv

#### dl324

Joined Mar 30, 2015
12,915
I lost well over more money than I care to say.
I lost my chance at really early retirement during the Dot Com market crash. I had the money to retire before the crash, but didn't know what I'd do for the next 40 years or so. Then the market crashed, I lost a lot of money, and I was thankful that I didn't retire.

I keep reading that the average SSA benefit is around $1500. It always made me wonder why it was so low. I guess what matters is how much FICA you paid; I paid a little under$150k.