Anyone close to retirement? / when do you start counting the days?

[internetwhiz]

Karen - I finished my paperwork last week. Had 90 days to complete in order for it to be retroactive to my last work day. DH is still looking at what to do with Medicare/supplement but he is good until December. I have nothing else to do for me until October 2015. I didn't realize there would be so many decisions to make!

 

 

You already ported over insurances and such you are keeping like LT care? They wouldn't let me start on it until July 1. June 30 was my last working day but took vacation until July 31 and still couldn't use it up. Couldn't retire until 62nd birthday in July or I wouldn't have met the criteria to keep our health insurance. If you had worked there 15 years (that day was in May 14) and were 62 you got to keep your insurance for both of us ar the current rate. $170 a month for both of us for good coverage.

 

 

Sent from my iPhone using Tapatalk

[tahoemc]

Whoot whoot, 23 more hump days for me:cool:

 

[zlacruising]

Whoot whoot, 23 more hump days for me:cool:

 

[ATTACH]321325[/ATTACH]

 

What a cute picture! Did yall go find that camel or did you have the piture??? Love it!!!

 

What is your last week of working??

 

Deb

[read52]

What a cute picture! Did yall go find that camel or did you have the piture??? Love it!!!

 

What is your last week of working??

 

Deb

 

 

Happy last first day of school! LOL

[zlacruising]

Happy last first day of school! LOL

 

Thank you....and so happy it is my last first day of school!!!!:):):)

 

Deb

[beshears]

Ziacruising, I have to agree with you. We may be the "exception" to those who want/ready to retire. I am much older than you, 71, but I love my job, and have worked for a very large corporate office as their Receptionist for over 16 years. They are either planning on building, or moving to a much larger building. More than likely, when this happens, I will take my retirement. Having insurance is such a plus with working. I'm like you, I would be "lost" without working.

[tahoemc]

What a cute picture! Did yall go find that camel or did you have the piture??? Love it!!!

 

What is your last week of working??

 

Deb

 

We were up in Virginia City NV last weekend with visiting family and stumbled across this critter in one of the tourista store fronts. Needless to say, it reminded me of the commercial and our own hump day countdowns, so hence the photo-op.

 

Last working day = Jan 19 (which just happens to be a holiday). Termination date = Jan 23. Retirement day = Jan 24:):D:):D

[zlacruising]

We were up in Virginia City NV last weekend with visiting family and stumbled across this critter in one of the tourista store fronts. Needless to say, it reminded me of the commercial and our own hump day countdowns, so hence the photo-op.

 

Last working day = Jan 19 (which just happens to be a holiday). Termination date = Jan 23. Retirement day = Jan 24:):D:):D

 

Oh we will have a close race for that last day worked. If I don't use to many sick/personal days I was planning for my last working day to be Jan. 16th which would be the same as yours....lol

 

(But I'm taking 4 days for a cruise and a couple for when my son and his wife have their baby....time will tell!!!) In the meantime I will be looking for a camel to take a picture with!!!!

 

Deb

[Lady Hudson]

You already ported over insurances and such you are keeping like LT care? They wouldn't let me start on it until July 1. June 30 was my last working day but took vacation until July 31 and still couldn't use it up. Couldn't retire until 62nd birthday in July or I wouldn't have met the criteria to keep our health insurance. If you had worked there 15 years (that day was in May 14) and were 62 you got to keep your insurance for both of us ar the current rate. $170 a month for both of us for good coverage.

 

 

Sent from my iPhone using Tapatalk

 

No long term care -- we buy that separately. We are both fully covered until August 31, then DH cobra for 3 months (65) while I am covered until 65. It is all good!

 

Members of my team were in for training this week. Now I am getting the "retired" vibe knowing I didn't have to do that:)

[BermudaStarz]

Well, I know that retirement is less than 90 days and when I post this - the actual number will be in my sig line less 1. Last day is Oct 31 and we leave on 2 week cruise Nov 1. That's my Retirement Party from me to me - well, DH may decide to take the credit - I don't care who takes the credit as long as we get on that ship!!!!

 

I saw some comments on Insurance - that is the huge concern for us - I believe I will be able to get COBRA for 18 months however - I have NJBCBS and I think I remember our agent telling us that it does not cover out of state - we are planning on moving to FL. This could be both interesting and devastating - it will truly cut into our travel budget. :eek:

[tahoemc]

Well, I know that retirement is less than 90 days and when I post this - the actual number will be in my sig line less 1. Last day is Oct 31 and we leave on 2 week cruise Nov 1. That's my Retirement Party from me to me - well, DH may decide to take the credit - I don't care who takes the credit as long as we get on that ship!!!!

 

I saw some comments on Insurance - that is the huge concern for us - I believe I will be able to get COBRA for 18 months however - I have NJBCBS and I think I remember our agent telling us that it does not cover out of state - we are planning on moving to FL. This could be both interesting and devastating - it will truly cut into our travel budget. :eek:

 

Nancy and Alex, WELCOME to Cruise Critic and congrats on the upcoming retirement, not too far away for y'all. Enjoy that cruise.

 

Insurance is so important. We are fortunate that we will be able to continue insurance coverage through our current provider, albeit in a "retiree" status. So far the only difference I see is our monthly premium will be less (based upon years of service) than what we are each paying now as active employees for the same coverage, and we will convert from a Health Savings Account (HSA) to a Health Retirement Account (HRA) that our employer makes annual contributes to.

[read52]

Oh we will have a close race for that last day worked. If I don't use to many sick/personal days I was planning for my last working day to be Jan. 16th which would be the same as yours....lol

 

(But I'm taking 4 days for a cruise and a couple for when my son and his wife have their baby....time will tell!!!) In the meantime I will be looking for a camel to take a picture with!!!!

 

Deb

 

You are going to be grandma again! How many will you have than 5 or 6? I have 5 right now.

[read52]

In the school system that I am in, we get 10 sick days per school year. We can use 3 days for personal business the rest are for sickness although this principal is pretty good about letting us use days for other things. At one point, we could only accumulate up to 30 days to be used in severe illness of self or family member. 8 years ago, I used mine up because of my husband's illnesses. But now I have them back in fact they will now let us have up to 40 days. But when I retire, I lose everything. So I have been using my days in fact I am doing something that I have never done. We get off 1 1/2 weeks at Easter. Usually, I cruise the week after Easter. Well the week before Easter on the Quantum was cheaper than the week after. So I asked my principal if I could take my personal days the week before and she said yes. So now we are getting a balcony for less than the price of an inside room.

[zlacruising]

You are going to be grandma again! How many will you have than 5 or 6? I have 5 right now.

 

We will be even!!!

 

Deb

[Lady Hudson]

Welcome and best wishes, Nancy and Alex. Please check out the info for your insurance carefully. It is surprising how many people, within the health care system, don't fully understand the benefits available to members. Ask many questions and then ask them again. Better to be safe than sorry. Katherine

[read52]

Welcome and best wishes, Nancy and Alex. Please check out the info for your insurance carefully. It is surprising how many people, within the health care system, don't fully understand the benefits available to members. Ask many questions and then ask them again. Better to be safe than sorry. Katherine

 

 

I agree with you totally since I have to deal with health insurance people at least once a week (Just got off the phone with the billing dept. of one doctor). Check your bills carefully when you get them. I got a bill from an eye doctor that we had been seeing for 7 years for the full amount. I could not get an answer from their billing dept. person. We have a nurse that helps us out with problems since we have several health problems (this is a feature that is provide by our insurance company for no charge). She talked to the insurance company and the doctor's office and found that they put down the wrong tax id number so it was showing the doctor as out of network. The insurance company paid the bill after they made the correction.

 

I was wondering if we could help one another with things of retirement like how to understand social security, health insurance, etc. Here is a question that I have if anyone can answer it. My husband is permanently disabled. Does he stay on disability or does he flip to ss at age 66? He's disability is probably more money since he stopped working at age 54. Another question.

One of the teachers in my school turned 66 this past year. She says that she can collect her full ss and continue working as a teacher. I thought their was a limit as to how much you can earn or your ss is reduced. What is correct?

Edited August 8, 2014 by read52

[Lady Hudson]

I will give you my understanding of SS. Taking it at 62 gives you a reduced benefit and there is a very low limit as to how much you can earn without a penalty. So continuing to work at that age when collecting SS usually isn't worth it unless it is a part time limited income job.

 

At age 66 (full retirement benefit for most people) allows a higher benefit per month as well as being able to continue to work without penalty.

 

At age 70 there is about a 30% increase in monthly amount because of waiting to collect.

 

Please contact your local SS office for specific questions. The SS website online can also be very helpful.

[internetwhiz]

I will give you my understanding of SS. Taking it at 62 gives you a reduced benefit and there is a very low limit as to how much you can earn without a penalty. So continuing to work at that age when collecting SS usually isn't worth it unless it is a part time limited income job.

 

 

 

At age 66 (full retirement benefit for most people) allows a higher benefit per month as well as being able to continue to work without penalty.

 

 

 

At age 70 there is about a 30% increase in monthly amount because of waiting to collect.

 

 

 

Please contact your local SS office for specific questions. The SS website online can also be very helpful.

 

 

I retired mid year this year at age 62. I will get 75% of my SS benefit from retiring early. To finish out this year, I can earn 1290 a month without giving ant of the SS back. It's a special thing for a partial year. Beginning in January 2015, the max is no longer per month, it's per year, and that number this year is $15,480.

 

You can earn it all in one

Month or spread out throughout the year, but it's a monthly cap for your first year if it's a partial year.

 

Did you know that for every MONTH you retire after age 62 (and before age 66) you aetn more SS. My husband plans to retire at 64 and he will get 84% of his full benefit.

 

 

Sent from my iPhone using Tapatalk

[zlacruising]

I agree with you totally since I have to deal with health insurance people at least once a week (Just got off the phone with the billing dept. of one doctor). Check your bills carefully when you get them. I got a bill from an eye doctor that we had been seeing for 7 years for the full amount. I could not get an answer from their billing dept. person. We have a nurse that helps us out with problems since we have several health problems (this is a feature that is provide by our insurance company for no charge). She talked to the insurance company and the doctor's office and found that they put down the wrong tax id number so it was showing the doctor as out of network. The insurance company paid the bill after they made the correction.

 

I was wondering if we could help one another with things of retirement like how to understand social security, health insurance, etc. Here is a question that I have if anyone can answer it. My husband is permanently disabled. Does he stay on disability or does he flip to ss at age 66? He's disability is probably more money since he stopped working at age 54. Another question.

One of the teachers in my school turned 66 this past year. She says that she can collect her full ss and continue working as a teacher. I thought their was a limit as to how much you can earn or your ss is reduced. What is correct?

 

Shirley...the second question I don't know but this is similar. 2 teacher friends of mine lost there spouses and both men were disabled. They both lost that income when their husbands passed away. HOWEVER if they continue to work at age 66 they will again collect their husband's disability. One is still working. (She is 69) Sort of sad...don't know where these laws come from. This is in Louisiana. Don't know about other states.

 

Deb

[read52]

I will give you my understanding of SS. Taking it at 62 gives you a reduced benefit and there is a very low limit as to how much you can earn without a penalty. So continuing to work at that age when collecting SS usually isn't worth it unless it is a part time limited income job.

 

At age 66 (full retirement benefit for most people) allows a higher benefit per month as well as being able to continue to work without penalty.

 

At age 70 there is about a 30% increase in monthly amount because of waiting to collect.

 

Please contact your local SS office for specific questions. The SS website online can also be very helpful.

 

Ok, so the teacher is correct. The reason I asked is that I make a lot more money than I thought I would every make in teaching and if I wanted to continue working to 67 or 68, it would be nice to get SS too. This teacher's husband is 5 years younger than her and was in construction. So he retired at 60.

[read52]

I retired mid year this year at age 62. I will get 75% of my SS benefit from retiring early. To finish out this year, I can earn 1290 a month without giving ant of the SS back. It's a special thing for a partial year. Beginning in January 2015, the max is no longer per month, it's per year, and that number this year is $15,480.

 

You can earn it all in one

Month or spread out throughout the year, but it's a monthly cap for your first year if it's a partial year.

 

Did you know that for every MONTH you retire after age 62 (and before age 66) you aetn more SS. My husband plans to retire at 64 and he will get 84% of his full benefit.

 

 

Sent from my iPhone using Tapatalk

 

That is another reason that I want to work until 66 so that I can get the full benefit. Two teachers that retired at 62 and are working as subs said that they can earn $24,000 a year. I better check with SS. I have not really been on the site which I should do.

[read52]

Shirley...the second question I don't know but this is similar. 2 teacher friends of mine lost there spouses and both men were disabled. They both lost that income when their husbands passed away. HOWEVER if they continue to work at age 66 they will again collect their husband's disability. One is still working. (She is 69) Sort of sad...don't know where these laws come from. This is in Louisiana. Don't know about other states.

 

Deb

 

 

So I think Kevin will stay on disability which has more benefits. I know when your husband dies, you can collect your husband's benefits if it is higher. My mother never worked so now that my dad passed away she gets his amount. Also I have a teacher who retired and she gets her husband's benefit because he made more money than she did. Right now I have made more money and worked longer than Kevin so mine is higher.

 

Thanks everyone that gave an answer, it helps.

[Lady Hudson]

There are so many options for SS that it can be confusing. Checking the internet concerning when one should start collecting is eye opening as well. What is good for one family is not always best for another. Just check and double check your information.

Edited August 9, 2014 by Lady Hudson

[read52]

Well, I just came back from the Montgomery County fair with my daughter and her family. There was a booth (although no person was manning it) for SS. I took every booklet that they had. I plan on reading all of them (about 5). One line in the disability booklet caught my eye. Under family benefits, it said "Certain members of your family may qualify for benefits based on your work. They include your spouse , if he or she is age 62 or older." It went on to list several situations. I need to check this out. It does not say anything about a spouse who is working. No one mentioned this to us although it has been 9 years since we talked to SS. I know that they check with Kevin's doctors yearly and once we had to fill out some other paper work.

[internetwhiz]

That is another reason that I want to work until 66 so that I can get the full benefit. Two teachers that retired at 62 and are working as subs said that they can earn $24,000 a year. I better check with SS. I have not really been on the site which I should do.

 

Yes, they can early $24,000 a year but anythiing they earn over the 15 thousand amount, the rest of it will reduce their SS check.