That sounds horrible. Three years of life just wasted. We are talking over 6000 hours of your life. Can you take an early retirement and do some consulting or something? Put in for a transfer? That just sounds like it would be hell.
I can retire anytime, but I'm building up time to cover health insurance when I retire. By boss retires next year and then 1 of 4 things will happen since I will be the last Gov IT person left standing in this office.
Sounds like you have a plan. I get the health care thing. I have health insurance covered so that isn’t a problem for me, but that would definitely keep me around a couple more years if needed. In my case, it’s just money in the short term. But I could make a fraction as much doing something fun (like zipline guide, Gerry. Just saying!) and easily cover the shortfall for a few years.
The more sick time I accumulate to a max of 1500 hours. it is converted and helps cover help insurance monthly premium. That way the insurance I have now will continue when I retire with little cost to me. I'm at 1100 hrs now
That’s interesting. Our sick time converts to service. 2080 hours is another year calculated into the annuity. I won’t have that much but it’s not all or nothing. 1040 hours is about 6 months. I took quite a bit of sick time to take care of my daughter when she was in chemo and will take some more over the next few months for her radiation amd CAR T treatments. But I should still have like 1500 hours when I decide to retire.
I had to cover everything for my daughter when she was growing up, my wife runs her own office so it was my job. That took my time down. The Pandemic actually help me build time up. for us 1500 hours is 200 days. We get a check for unused vacation time, I think up to 300 hours. Unused personal time, we lose
We can go for full retirement at 55 if you have 30 years. I didn't have 30 years at 55. You can go anytime, no matter they years at 60 .... I have 30 now, I'm over 60 so I can go anytime. But the main thing is the healthcare coverage. Also have a child still in college, but we will see how things go here based on the way things are going.... I may go before 2027, who knows. Also they cold give out another incentive, which would mean I go then. Although I am not holding my breath for that.
Believe me, I'm right there with you.... I won't be selling coffee, but I will be retired..... might buy some from you though, should I be in the neighborhood
I'm actually under 2 plans. One plan is a multiple on the years of service; the other starts at 40% at 20 years, and maxes at 50% at 25 years in 2% annual steps. They "work together" essentially, with one supplementing the other, to give you the higher payment in total. They cross around 28 years, and the one pays out your contributions plus interest when it would no longer be paying out.
We have the 40% for 20, 50% for 25, 60% for 30, up to I think it is 80% for 40. If I make it to 2027 I think I will be around 66% possibly 68%.... vacation time is a check that gets sent to me.
To sit on the rocking chair and look at blue sky and white cloud is a full-time job.
Unfortunately, barring a lottery win on a ticket I don't buy, that sort of retirement isn't in the offing for me anytime soon... Health insurance, alone, tells me this.
if only we had universal healthcare, you and xue could be living the high life.
If one is not 59 and 1/2, he can't take money out of his 401 K. If his company doesn't have pension and retirement health insurance, it can make early retirement more difficult.
