Taking Early Retirement

I Retired Early | You Can Too!

March 30, 2010
by Jeremiah
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Age of Our Readers

Looking at my stats for this blog, I can see that some subjects and articles are more popular than others. I don’t know if this is because the articles are geared toward a certain age group or maybe the topic is of interest to a lot of people without regard to age.

So this blog will be more informative to as many people as possible, I’d like to get an idea of the age of our readers. This way I can fine tune the articles to the majority of people within a certain age group.

Take a moment and take the following poll so I can get an idea of the blog reader’s age so I can target more of my articles to the widest number of readers.

For Taking Early Retirement (TER), I hope you are enjoying a great retirement or are close to that day!

Jeremiah John

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March 28, 2010
by Jeremiah
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My Life Story – Page 1

If you have read the About This Site page https://www.takingearlyretirement.com/about-the-site/, then you already know I retired at age 52. It wasn’t a military retirement or a government post office retirement, it was a corporate retirement. It was really an alternative to being laid off. I had over twenty years of service and I was over 50 years of age, so I was offered a retirement package as a “Thank You” for my long company service.

Yes, I got a package. The firm I worked for was merging with another and some of the middle management staff at my firm were being replaced with middle management from the acquiring company. I was on the departing team. I had been a manager with this firm since I started there 22 years ago and had slowly risen through the ranks to be the senior manager of technical and contract services.

My retirement package was pretty sweet. The company I worked for would add five years to my age for retirement purposes and add five years to my years of service. I knew that the best benefits were paid to those employees with over 25 years of service and by adding five years to my years of service put me in that better bracket – 27 years. Also because they were adding five years to my retirement age, the amount I would get would be based on an age of 57. So although I was not 57, I was 57 as far as my retirement package was concerned. My pension would be small – under $1,000 – but I was going to take the lump sum and roll it into an IRA anyway, so it did not matter.

I learned an important lesson when I was in my first year of Army service. I learned that I should pay myself first. No matter where I worked or what I did to earn a living, I was to always pay myself first. It doesn’t sound like that big of a deal, but it really was. By paying myself first I was able to max out my retirement contributions and live on what was left over.

I started this website to try to teach younger people how they did not have to work their whole lives to retire and take it easy. I will discuss annuities, variable annuities, stock investing, earning the best return on your retirement money, having a “play” investment account, charting your investment progress and goals, retirement calculators, and a whole lot more.

Jeremiah John

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March 26, 2010
by Jeremiah
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About this website – Page 1

So Why Did I Start This Website?

The question you are probably asking is, “Why did this guy, 52 years old, start this web site?”. When I told my wife about starting this website, that was her question. So I know you are probably asking it too. There are a couple of reasons and they are simple.

There A Couple of Reasons

Reason #1 – There are a lot of people who are going to need some help in their retirement planning. These people probably do not have a pension and as such, they are making choices about their retirement in a 401k or a IRA, in a vacuum. It can be scary, since most of the people your age at work, are in the same boat and do not know any more than you do.

What are annuities? What are variable annuities? What are Target-Date Funds? Stocks? Bonds? Mutual Funds? ETFs? ELKS? CDs? You can see that these are just a few of the choices that are available for your money. How do people figure it all out?

Reason #2 – I really like this subject and feel I can help you and others retire early and do well financially, in retirement.

You Need A Battle Road Map

That is what I will try to do for you. I will try to provide a battle road map. A battle road map is a little different from a regular road map. The battle road map will show you where the potholes are, where the mines are, the IEDs (improvised explosive device) are located, and other detours or roadblocks that are standing in your way to a good retirement.

Disclaimer

I am not a stock broker. I do not have nor do I hold a securities sales license of any kind. I do not have an insurance license or any license to sell any financial products. I am not a registered investment advisor. I am not a CLU, CFP, ChFC or have any initials after my name. I am not a lawyer or a CPA and you are advised to seek professional help from these people regarding any advice you see printed on this or any other web page about retirement.

So What Do I Get?

What do I get out of doing this?

  • The first thing I get is personal satisfaction. Like I said above in Reason #2, I really like the subject and feel I am good at it. It was tough being retired in the first couple of months, but having this blog allows me to contact fellow retirees or people who want to be a retiree sooner rather than later. It allows me to help you.
  • There may be products, books or courses that I may write about or recommend from time to time and I will make a commission that will be paid by the seller on these products.
  • I may host a teleseminar and charge a nominal fee for putting it on and hosting it.

My Membership Site

You might want to join my membership site where I discuss specific techniques and products. I charge a small monthly fee for this membership site and you are free to join and leave without any long term committment. I take a part of that fee as my compensation.

I might make enough money from the sale of these products to pay for my website hosting, the programmer who does the technical stuff, and the time I put in to help you out.

For Taking Early Retirement (TER), I hope you are enjoying a great retirement or are close to that day!

Jeremiah John

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March 24, 2010
by Jeremiah
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How to Find Retirement Communities

What Are Your Options?

Are you picking up stakes and moving when you retire?  If you are expecting to retire within the next year or two, you may be on the hunt for retirement communities.  You might also be thinking that you will stay where you are, now that you have the mortgage paid off.  With so many options to choose from, many seniors are wondering, how they can start familiarizing themselves with their options.

The First Step

The first step in finding a retirement community is to decide on a location.  Do you want to stay in your current community?  Have you always dreamed of moving to Florida or another location with beautiful weather?  Will you become a snow bird, leaving your home in the fall and returning back home in the spring?  If so, now is the time to make your decision.  Targeting your retirement community search to a specific location can save you time.

Like Driving in the Snow?

I am not really crazy about driving in the snow or walking on the sidewalks when they are icy.  But for now, if the weather is bad, I just stay inside and hunker down with a good book.  I try to keep all of the staples on hand, in advance, when bad weather arrives so I don’t have to go out when everyone else is sliding around in their cars.

Where Do You Look?

Once you have decided on a destination, you have a number of different options.  If you will be staying in or around your present home town, you can turn to your local phone book.  There, you will find a number of retirement communities located in the yellow pages or business directory section.  These centers may be listed under “retirement,” “housing,” or “assisted living.”  Your phone book should provide you with the telephone number of the establishment in question.  Contact them for more information.

Using The Internet For Your Search

If you are internet savvy, you can use the internet to find retirement communities.  If you already have the name of a retirement home or community, like one that was recommended to you, perform a standard internet search with that company or community name.  If the place has an online website, you should be directed to that website.  Not only can you get the needed contact information, you will also be provided with other valuable information.  This information may include a summary of rates, pictures, room layout plans, a detailed list of onsite services, facilities, and scheduled activities.

Not Ready To Go To A Home?

I have admit that these options are really for people that are in the mid seventies or early eighties.  I don’t consider going to a home an option for me at my age, but I am giving all readers some food for thought.  Some day you might find this information handy.

Online Phone Books

In keeping with using the internet to find retirement homes and communities, you can also turn to online business directories and online phone books.  Many enable you to search for a business, like a retirement home, by location, such as your chosen destination.  The information that you will be provided with should include an address, a telephone number, and possibly a company website link.  Be sure to visit the website of the retirement community in question or at least call for additional information.

Typically, you will find it easier to find retirement communities online.  In fact, you will likely be provided with more options.  Your local phone book may be limited in its information or it may be outdated.  If you are not computer savvy yourself, consider asking a friend or trusted family member for help.  An afternoon spent together can produce a large list of retirement homes and communities in or around the location of your choice.

Making The Final Decision

Remember that moving into a retirement community is a huge decision.  In fact, you will need to do more than just find a retirement community. You will also need to choose one.  When making your decision, keep affordability in mind.  It is a must to choose a retirement community that you can afford.  Also, examine your needs.  Do you need assistance with living day-to-day?  If so an assisted living retirement community is advised.

The above mentioned methods are all ways that you can go about finding retirement communities.  As an important reminder, don’t just find a community to live at; choose the one that is the perfect fit for you.

For Taking Early Retirement (TER), I hope you are enjoying a great retirement or are close to that day!

Jeremiah John

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March 22, 2010
by Jeremiah
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Getting An Annuity Quote

In my post about Annuity or Lump Sum,
I spoke about taking a monthly payment guaranteed or investing the lump sum in an IRA. You may be thinking you would like to see what your numbers look like.

Vanguard Lifetime Income Program

A website I used to go until recently, was Vanguard Annuity Calculator. This will bring up the Vanguard Lifetime Income Program. Now, Vanguard is a respected name in mutual funds, but it you take a look at the website address it starts out with AIG. To me that is a red flag. I don’t know about you, but I do not want to have to be concerned if the company I have my annuity with is investing in subprime mortgages or anything that the US Government has to bail them out for. So while this is a good calculator for getting an estimate on what your annuity might be, consider some other firms to give your money to if you decide to go that route.

At the Vanguard website you can get a simple quote, which is all you want to do. You want to click the link that says, “Get an instant Quote”. Or you can click other links like “Why An Income Annuity”, or “Decisions About Your Income Stream”, or if you read my post about Variable Annuities, you can read about those under “Investment Options”.

How To Get a Quote

If you click on “Get An Instant Quote”, it will bring you to a calculation page. Fill in your birth date in the format mmddyyyy. If you have a health problem and know your life insurance rate up, you can fill in that number. If you don’t, leave it at N/A. Enter your gender and state of residence. People from different states have different life expectancies. I don’t know why, but they do. If you are doing joint planning and have someone who will be collecting when you die, fill in their info in the next section. You can fill out your relationship to the joint party, if any.

How Are You Funding the Annuity? Continue Reading →