The Month You Retire Really Matters

Comments · 247

• KE

  @kenw9438 · 2 years ago

  I retired at 55.  I started May 1st,  I maxed my 401K for that year, and ended up with an AGI that gave me great medical rates under the affordable care act.  I have to say I really like retirement - I was a bit concerned about getting bored as I used worked a lot.  Ive been retired over 7 years now and it is just incredible.  The only surprise was that I saved up quite a bit on money for retirement and it's hard for me to spend it now as I still have a "Save for retirement mindset".  My investments  are growing much faster than my spending depletes them.  Maybe I'm just cheap......anyhow, save, retire, and enjoy.   It really is a special time in life.

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• JO

  @johnpauljenkins7752 · 1 year ago

  Leave while you still have your health period...

  65

• HO

  @hogfanboy9443 · 2 years ago

  Always  retire or quit work  near the first of the month.  If you work on the 1st day of the month  your employer health insurance is covered for the whole month

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• MA

  @maxsmart8954 · 2 years ago

  i retired at 60 and started drawing my SSI at 62. if i waited until 70 max allowance waiting 8 years i would have left 58 k on the table. I would say if SSI is not a priority or necessary, take the $ and run!! tomorrow is not guaranteed.

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• TH

  @TheFirstRealChewy · 2 years ago (edited)

  Retiring in the fall if you live in a northern state is also good because then you don&apos;t have to think about going to work in the snow. It&apos;s also right around that holiday period so it&apos;s more festive.<br><br>Honestly, being able to retire at all is great.

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• DA

  @DavidDLee · 2 years ago

  Take a vacation while you are still getting paid, then give your two weeks notice.

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• DA

  @davidshort9439 · 2 years ago

  I turn 65 in March, &nbsp;plan on retiring in June. &nbsp;I have to give my employer 4 week notice to collect 5 thousand dollar bonus. With my social security and two union pensions I hope to live comfortably.

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• LE

  @leveragedpromise1 · 2 years ago

  Only 20 or so summers left. &nbsp;Yikes! &nbsp;That puts it all into perspective. &nbsp; I have to remember I am not 33 anymore.

  124

• WR

  @wrongwayconway · 1 year ago (edited)

  I turn 63 in November. &nbsp;I&apos;m retiring November 1st, November 6th we fly to Barcelona for a Mediterranean cruise. I live in Ontario 🇨🇦 and I have a 1 hour commute to work through hilly farm country so I chose to retire BEFORE the snow hits. &nbsp;Yay! I have a lot of hobbies that I can do indoors until March when I start my seeds indoors for my garden prep. &nbsp;Always something to do l. ❤

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• DA

  @davidhay5113 · 2 years ago

  If you have a severance package coming to you, retire early in the year. Avoid having to claim all/most of your salary plus severance in the same tax year.

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• JM

  @jmsfabrication7821 · 1 year ago

  My company pays me for &nbsp;whatever vacation I have leftover when I retire. &nbsp;So I decided to wait till the start of the year to retire. &nbsp;I get 4 weeks of vacation and can carry another week over, so a &quot;retirement&quot; check of 5 weeks&apos; pay will be a nice sign off!

  62

• MA

  @max_vonmuller · 2 years ago

  I had not thought of maxing my 401k in my last year of employment. &nbsp; Great point.

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