Reply to Retiring before you have a full work pension

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[quote=Anonymous][quote=Anonymous]The pearl clutching on this thread about not achieving the full pension benefit is pretty strange - what about the opportunity cost of wasting another 5-10 years in a soul-sucking job?  I'm planning to retire after 20 years with the Feds at age 51, and have no qualms about having to ratchet down my retirement spending by 10% as a result.  [/quote]

Are you a first responder or does your agency offer early outs every year?  I am 52 with 20 years in and am not eligible to retire for four more years.  Also, the benefit is reduced if you retire before 60 and increase if you wait until you are 62.

I don't think there is pearl clutching and think it is people demonstrating the math. It comes down to when you think you will have enough money for retirement.  People who work longer generally have more money in retirement than if they had worked a shorter period of time.  what is enough?  It is an individual answer.  Absent a windfall, I do not plan to retire until my children are out of college, so that is mid-60s for me.  Also, I enjoy my job.[/quote]

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