Eastern Utah
EMAIL ME AT: mgypsy97 at aol dot com

Monday, September 3, 2018

Early Retirement

This post is written in response to a suggestion from a  reader who wondered how I've been retired since I was 55 yrs of age.

I worked for the US Govt, Army Corps of Engineers at HQ in Washington, DC.  I was led to believe my position would be upgraded for quite some time but nothing was ever done about it.

Then  they wanted to reduce the numbers of people at HQ so they offered a cash benefit (can't remember how much it was but it was decent) for anyone who took retirement.  I was eligible for an "early out" with 25 yrs of govt service and having reached the age of 55.  I took a reduced benefit amounting to a certain percentage of my retirement for every year I was short (can't remember if it was age or years of service).  So I've received a reduced pension for the last 45 years and it has been worth every penny of it!  The irony of it all is that the Division Chief came to me with my retirement application and offered to upgrade my position if I stayed on.  Too late, buddy!  I've never looked back and have led a magical life for the most part.

While I like the things money can buy and do, especially for my family and friends, I am not motivated by money and never have been.  So I would say that I've lived probably half my life on the "poor" side of the scale, with the other half being at the median or a bit higher.  I've had a wonderful life, and the so-called "poor times" have been invaluable in the process of learning what is important and what is not.  People are important.  Things can be snatched away at the drop of a hat.

So that's my philosophy and it's served me well.  Not all would agree with me or would want to emulate my way of life, and that's fine.  There is a time of life especially when raising a family, that is enriched by certain material benefits, although I see each generation make the mistake of trying to give their children everything they wish they had when growing up. 

I might add that most of my government career was with IRS in Cincinnati and in Sacramento.  The IRS is disliked by everyone because they collect taxes that no one wants to pay, but in my experience I found the agency operates with the highest principles of integrity and decency.  I'm speaking of employees in the regional and district offices - any agency in Washington is suspect in my book!

13 comments:

  1. All my contacts with the IRS folks has been very pleasant and cordial.

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    1. Thanks for saying that, Barney. I think IRS has some of the best people in govt. When I worked there they were very strict about how their employees acted on and off the job.

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  2. I think you definitely did the right thing. My husband retired at 48 years old from the Canadian forces, worked 4 more years for a private company in Indonesia and decided we would benefit from free time more than from more money. We never looked back.

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    1. Wow, I bet you have some interesting stories you could tell, and I'd like to hear them some time.

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  3. Happy you have enjoyed your retirement! I, too, took an early payout 23 years ago and never looked back except for the wonderful memories.

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    1. I'm so glad to hear from folks who have taken a similar path to mine, and haven't regretted it.

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  4. I might mention that approx. half my years were worked from the time I got out of school to just before my first child was born. I stayed home until my 4th and last child was old enough to go to preschool and then went back to work for another approx. 13 yrs.

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  5. I think that was a great decision to retire. It is not about money, but rather enjoying life. I retired the first time at 52 but then consulted for 7 years. I also have zero regrets:)

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    1. Thanks for sharing your success with early retirement. I don't understand people killing themselves with work, and there are so many who no longer retire at 65. I know I didn't want to work until I died, although this puppy sure is work!

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  6. I always tried hard to be a good IRS employee and I loved being able to help people straighten out the messes they got themselves into. But after 34 years I was done. I retired at 60 and never looked back. And I do not miss it 9ne little bit.

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    1. I know how you feel, and I have never ever missed the work world. And after all the years of dressing up for work, in skirts and high heels, the day I retired I became a bum! My mother was embarrassed to be seen with me! I still only wear casual clothes, most of which come from Costco!

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  7. I was a buy-out too. 55 and out. Climbing the corporate ladder was not for me. I wanted to be mom so I worked part-time evenings when kids were little to three days or just mornings so I could be home after school. I worked to supplement the income. And we never lacked anything. I wouldn't change a thing.

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    1. I love your story! The kids were always the most important thing in my life, and I didn't plan to ever go back to the work force. Economics made it necessary for me to return, plus a separation and divorce made it a reality. Fortunately I was able to get through 13 yrs raising my kids as a stay-at-home mom.

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