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In September 2019 I will turn 55 in my occupation I am able to retire at 55 years of age and 30 years of service which I will have. I could continue to work and increase my pension by about 1 1/2% every year. I would really like to start the next chapter of my life. Between my retirement and other investments I will be getting about 80% of my monthly take-home, money should not be an issue. In addition when I turn 62 I will be able to collect Social Security. I guess my question is Is it worth me to stay another year and collect another five to $600 per month Or should I retire at 55 and start enjoying my life.
I had to do the math on this Larry, you say an extra 500 to 600 dollars a month with 1.5% increase in your pension by staying another year? That would mean a $34,000 a month pension? If you have that going on quit now, if it is a typo and is per year stay a little longer and get your insurance and investments set up so your safe till full retirement age, then take Social Security.
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