|
Off Topic Off Topic - General non-Corvette related discussion. |
|
Share | Thread Tools | Search this Thread |
04-27-2024, 7:16am | #1 | ||||||
A Real Barner
Join Date: Jan 2012
Location: 1.Just because I'm paranoid doesn't mean people aren't out to get me...
Posts: 1,673
Thanks: 703
Thanked 708 Times in 364 Posts
Gameroom Barn Bucks: $530
|
Got layed off Yesterday.
I worked for a large hospital system, 29-30 hospitals. Been with them for 25 years. Really came as a shock but I was a manger so easy pickings I guess. Told me my position was eliminated due to "restructuring". I'll be 72 in the fall so I had a good run. Was going to retire within 2 years anyway. Weird though being escorted off the campus after all these years. Wife, working at a sister institution also got the axe. She had over 30 years in. She's 67. We will both receive a modest severance package. We'll certainly miss the income but think we'll be ok. I started taking SS in 2018 and get about $3,400 a month, wife will get approximately the same. We also have about $2mil in 401k and savings. Everything is paid off so no debt. Might have to cut back on a few things though. This will be a tough adjustment...forced retirement. |
||||||
04-27-2024, 7:19am | #2 | |||||||
Join Date: Sep 2013
Location: Vegas Sands Hotel
Posts: 8,452
Thanks: 2,891
Thanked 4,538 Times in 2,128 Posts
Gameroom Barn Bucks: $2001216
|
Quote:
|
|||||||
04-27-2024, 7:22am | #3 | ||||||
A Real Barner
Join Date: Jan 2012
Location: 1.Just because I'm paranoid doesn't mean people aren't out to get me...
Posts: 1,673
Thanks: 703
Thanked 708 Times in 364 Posts
Gameroom Barn Bucks: $530
|
No that didn't happen.
|
||||||
04-27-2024, 7:32am | #4 | ||||||
Vette Barn Crew
Join Date: Aug 2022
Location: Pa
Posts: 495
Thanks: 323
Thanked 188 Times in 79 Posts
Gameroom Barn Bucks: $500
|
Hospital system here in the Pittsburgh is eliminating positions also. What the heck is going on? Sounds like you planned well and should do fine in retirement. Now get out there and enjoy life!
|
||||||
04-27-2024, 7:33am | #5 | ||||||
A Real Barner
Join Date: Dec 2011
Location: Down the Shore,New Jersey Elev.3 feet.
Posts: 18,779
Thanks: 4,629
Thanked 11,120 Times in 5,206 Posts
Gameroom Barn Bucks: $1007997
|
Get a job at Costco
|
||||||
04-27-2024, 7:39am | #6 | ||||||
A Real Barner
Join Date: Jan 2011
Posts: 1,678
Thanks: 100
Thanked 905 Times in 496 Posts
Gameroom Barn Bucks: $2149
|
I think you'll survive.
|
||||||
The Following User Says Thank You to TheHammer For This Useful Post: |
04-27-2024, 7:39am | #7 | ||||||
Barn Stall Owner #112
Join Date: Apr 2022
Location: The Blue Ridge Mountains
Posts: 17,435
Thanks: 6,903
Thanked 4,784 Times in 2,826 Posts
Gameroom Barn Bucks: $500
|
When one door closes another opens. In this case it's a well deserved retirement. You should be able to take $80k per year out of your investments (hire an expert if you haven't already). Congratulations!
|
||||||
04-27-2024, 7:46am | #8 | ||||||
A Real Barner
Join Date: Jan 2011
Location: Lakeland/FL
Posts: 2,109
Thanks: 97
Thanked 544 Times in 270 Posts
Gameroom Barn Bucks: $500
|
At your age and considering your 401k balance, I don't see a problem there.
I'd take $100k each year from the 401k + social security. That money shouldn't run out for the rest of your lives. Can't take it to the grave, so, spend your 401k. |
||||||
The Following 2 Users Say Thank You to GrandSportC3 For This Useful Post: |
04-27-2024, 7:47am | #9 | ||||||
A Real Barner
Join Date: Jan 2011
Location: Lakeland/FL
Posts: 2,109
Thanks: 97
Thanked 544 Times in 270 Posts
Gameroom Barn Bucks: $500
|
I'd take out $100k per year. That will take over 20 years to run out of funds.
|
||||||
The Following User Says Thank You to GrandSportC3 For This Useful Post: |
04-27-2024, 8:35am | #10 | |||||||
A Real Barner
Join Date: Jan 2012
Location: 1.Just because I'm paranoid doesn't mean people aren't out to get me...
Posts: 1,673
Thanks: 703
Thanked 708 Times in 364 Posts
Gameroom Barn Bucks: $530
|
If anything I'll look for a job working from home, part time. Not interested in Walmart or Home Depot. If I'm going to work I want top dollar. Quote:
Wasn't planning on that much but wife is worried we'll run out. I figure in 15 years I really won't care. Don't older people (>80) spend less? We don't travel. We have beach house rental that is self sustaining, so far, so we'll spend time there in off season. Love surf fishing. I have 2 corvettes to keep me busy too. We do like cutting down trees for fire wood so that will keep us busy if I can get my log splitter started. |
|||||||
The Following User Says Thank You to Jughead For This Useful Post: |
04-27-2024, 8:56am | #11 | ||||||
Join Date: Sep 2013
Location: Vegas Sands Hotel
Posts: 8,452
Thanks: 2,891
Thanked 4,538 Times in 2,128 Posts
Gameroom Barn Bucks: $2001216
|
Don’t forget about your unemployment check!
|
||||||
The Following User Says Thank You to Don Rickles For This Useful Post: |
04-27-2024, 9:03am | #12 | ||||||
A Real Barner
Join Date: Jan 2012
Location: 1.Just because I'm paranoid doesn't mean people aren't out to get me...
Posts: 1,673
Thanks: 703
Thanked 708 Times in 364 Posts
Gameroom Barn Bucks: $530
|
|
||||||
04-27-2024, 9:38am | #13 | ||||||
Join Date: Sep 2013
Location: Vegas Sands Hotel
Posts: 8,452
Thanks: 2,891
Thanked 4,538 Times in 2,128 Posts
Gameroom Barn Bucks: $2001216
|
|
||||||
04-27-2024, 9:40am | #14 | ||||||
A Real Barner
Join Date: Jan 2011
Location: NorthernNY! (A little town on the shores of the Great Sacandaga Lake) in the peoples republic of NY
Posts: 10,636
Thanks: 5,695
Thanked 3,502 Times in 1,926 Posts
Gameroom Barn Bucks: $2115673
|
|
||||||
The Following 4 Users Say Thank You to 6spdC6 For This Useful Post: |
04-27-2024, 9:51am | #15 | ||||||
Barn Stall Owner #89
Bantayan Kids '13
Join Date: Jan 2011
Location: Marietta, GA
Posts: 28,492
Thanks: 15,368
Thanked 6,790 Times in 3,430 Posts
Gameroom Barn Bucks: $536709986
|
Well, you both must have liked your jobs to work that long.
When I hung it up, I quickly realized that retired does not mean *Stop working*. Sometimes I'll work harder than I did when I had the business, but it's by choice doing things I like to do, but without dealing with people trying to kill you. Enjoy your retirement, well deserved. |
||||||
The Following 7 Users Say Thank You to Blademaker For This Useful Post: |
04-27-2024, 9:57am | #16 | ||||||
Barn Stall Owner #89
Bantayan Kids '13
Join Date: Jan 2011
Location: Marietta, GA
Posts: 28,492
Thanks: 15,368
Thanked 6,790 Times in 3,430 Posts
Gameroom Barn Bucks: $536709986
|
When we sold the business and left, my brother and I fired ourselves. Then, we filed for unemployment. Never mind the fact that it was by choice and I was retiring, that didn't even factor in.
I drew the maximum unemployment for 1 1/2 years before the .gov began asking for proof that I was looking for a job. I'd like to think that I got a little bit back from paying into it for all these years, but I know better. |
||||||
04-27-2024, 10:00am | #17 | |||||||
Join Date: Sep 2013
Location: Vegas Sands Hotel
Posts: 8,452
Thanks: 2,891
Thanked 4,538 Times in 2,128 Posts
Gameroom Barn Bucks: $2001216
|
Quote:
|
|||||||
04-27-2024, 10:01am | #18 | ||||||
Barn Stall Owner #89
Bantayan Kids '13
Join Date: Jan 2011
Location: Marietta, GA
Posts: 28,492
Thanks: 15,368
Thanked 6,790 Times in 3,430 Posts
Gameroom Barn Bucks: $536709986
|
|
||||||
04-27-2024, 10:03am | #19 | ||||||
A Real Barner
Join Date: Feb 2017
Location: On the beach
Posts: 32,971
Thanks: 17,606
Thanked 33,891 Times in 11,913 Posts
Gameroom Barn Bucks: $1025333
|
72 and 67, over $2M saved for retirement, and still working? Why??? It’s past time to retire and enjoy life.
If that $2M is invested wisely you can withdraw $100k/yr and you’ll still have $2M when you die. You’ve worked hard for many years, enjoy what time you have left. |
||||||
The Following 9 Users Say Thank You to Steve_R For This Useful Post: |
04-27-2024, 10:36am | #20 | |||||||
Barn Stall Owner #421
Join Date: Sep 2021
Location: Those satisfactions are permanent
Posts: 15,307
Thanks: 6,426
Thanked 8,037 Times in 3,972 Posts
Gameroom Barn Bucks: $500
|
Quote:
|
|||||||
The Following 5 Users Say Thank You to GTOguy For This Useful Post: |
|
|
Support the Barn: |
Download the Mobile App; |
Follow us on Facebook: |
||