Hanging up my 4 decades old commute spurs.

[chl]

I'll start Social Security at the end of this year, at age 62, officially(don't tell anyone!)... I'll take every penny my FICA taxes have paid into over the last 45 years of official income, and I don't care if they ding me some of that because I still 'have some income', or not, or 'tax' it because our joint income is 'above the limit' ... I'll still have a LOT MORE cash in the Social Security savings account over the next 5 years, versus 'waiting' until that 'magic' Government-stated age of adulthood, or retirement, or whatever it's called... call me crazy.

Congratulations to all who made it to retirement! Enjoy it to the max!

No @hturnerfamily you're not crazy, just 'mathy' lol.

My wife and I did the same thing, taking Social Security 'early' back when we turned 62, paid off the mortgage, car and credit card debt, etc. and invested some as well, not to mention just enjoying ourselves while we were younger and healthier.

The break even age is 84 last time I checked, but will we all live to be 84? If we waited until the last minute to take social security, at age full retirement age of 67 or the max age 70, and don't make it to 84, then better off taking it early.

That issue became very pertinent when my wife was diagnosed with a form of leukemia out of the blue in the summer of 2024.

Thankfully, it was a very treatable type, APL (Acute Promyelocytic Leukemia) with a near 90% cure rate, but she came very near to dying before it was diagnosed and treatment began.

It is a rare disease caused by a genetic mutation in the bone marrow that develops for unknown reasons, and results in mutant white blood cells crowding out other blood components like red cells and platelets. The platelet deficiency leads to excessive bleeding which is of course life threatening.

She spent over a month in the hospital and then several months of daily treatments with ATRA and ATO (ATRA is a form of Vit-A and ATO is a form of arsenic) and a year of follow up check ups, so far so good. Fingers crossed.

There is always something...

Another reason to consider taking Social Security early is because money today is worth more (buying power) than it will be next year due to inflation, and the SS COLA never really compensates for inflation.

Then there is the 'opportunity cost' of waiting - you can invest or save with interest a dollar today so it's worth more in the long run than waiting.

Obviously, not for everyone. If you can't live on the early reduced monthly amount, you'd be better off waiting to take it and get the higher monthly amount.

I call myself semi-retired, still keep my bar license and now and then do some pro bono work.

Sponsored

 

[Jseis]

My work was 4 decades in the public sector & across 6 public agencies. Fortunately my pension was transportable.

25 years ago my S.O. and I more formally “mapped“ our retirement goals: Age, family, house, farm, investment, etc. Both of us decided to work till age 69 (though my last job was so fun & good compensation I hung on till 71) and we nailed our goals. While my mother passed in her mid 80’s , Dad lasted till 93 and.. as a sitting port commissioner… for 36 years, he enjoyed “semiretirement”. He would’ve made it to 100 if Mom was there.

My S.O. and I are in that ilk of enjoying “work” on our terms. So a a day a week or so is “work“ which we translate to “brain engagement“, she’s an expert in finance, me; public strategic planning & grant writing/project funding.

Maintaining health is paramount, thus rowing -machine, cycling (beach biking is brutal !!). Housework too and I watch the high stuff (one ridge is 34’ AGL ) and I think twice about going there.

My Mom really said it 40+ years ago, find work you enjoy and find one with a pension (really hard if not in public sector)… learn investment. Worked for me despite losing $100Ks in 80’s-90’s farming. What a hard lesson.

The reason I drive a Lightning is it’s a Bev that’s big enough to protect me Igbo hit an elk (common around here). The S.O. Was adaman! I love The Truck & avoided the elk!

 

[garsh]

Congratulations! My last day will be May 1, so I'll be joining you shortly!

I'll be celebrating by going on a long road trip to hit the last 7 states that we've yet to visit.

 

[davehu]

My driving style is changing

I retired April 1st though really back in March as I had a lot of PTO built up. 40 years in a gaggle of jobs. Averaged about 25K miles a year rural highway commuting. Drove vehicles an average of 100K (variable year to year). A couple at 60K, several 150K-200K or until a major repair & usually engine-tranny. Other than a couple of flat tires & smacking two deer… no major accidents. One infamous midnight speeding ticket…for 10 over when I was more like 30 over (!). Another time spun out out with the XT & did a 180 on a curve, killed the engine dead & ended up in the opposite lane pointed back to where I came from.

Background: My first commute vehicle was an ‘83 Subaru GL wagon and my last is the current ‘23 Lariat ER. Between those? A Subaru XT, 2 Mustang GTs, a 7.3 F250 (w/6 spd stick!), an Expedition, 4.6 Adrenalin, twin turbo Flex, Escape, Mustang Mach E…. and a lot of miles… probably 850K or thereabouts . I tended to average 20K-25K miles per year, not excessive though one year I laid down 56K. I put 56K with the Lightning in 33 months including a 2000 mile RT to Great Falls.

The two Subarus were 32-37 mpg, ICE Mustangs 23-25 (depending on foot!), trucks & Flex 18-22, Escape 23, MachE 110-120 MPGE. These are at rural road speeds, w/curves & small towns.

I commuted with the Mach E for two years & averaged 3.6 m/kWh in 56K miles. The S.O. and I had discussed the likely savings in $$ of gas when we debated buying the Mach E and the Lightning proved efficient as well. My 2.75 year average (56K) on the Lightning is 2.38 mi/KWh.

I charge the Lightning at home nightly with a charge point knocking out 9.2 KW on a 240V 50 amp service. The Mach E idles along on a 120V service.

However.. I did some maths and discovered that instead of averaging 93 miles a day.. now… I’m averaging…10 miles a day . A typical charge lasts, ahem, nearly a frigging month!!! My average KWh is 2.7-3.0 miles/kwh. Or in gasology speak 91-101 MPGE. A trip to the hardware store won’t even trip the mi/kwh estimate.

Driving the Mach E (spouse) since July ‘21 and Lightning (me) since July ‘23 has resulted in a net fuel savings since August of ‘21 of $30,000+. When I took the Lightning in for the two recent recalls, the dealer service staff explicitly said to me that they noticed the minimalist maintenance needs of the BEVs, and mentioned the Lightning in particular. The S.O. said to me that I’d be surprised how many people ask her about Mach E (Does she like it, why?). My sis bought a Mach E and loves it.

At the rate I’m driving I’ll be seeing 100,000 miles in 12 years. Time to start hauling the ‘41 9N & brush hog to the old farm and hit the beach on my fatbike!

Laying 100 watts down with this is work!

congratulations on retirement. You'll love it I'm 18 years ahead of you! )

Sponsored