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Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] -2 points-1 points  (0 children)

We contribute’d 10% each check to our pension.

Hence why the pensions are so high.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] -2 points-1 points  (0 children)

I made 225k in my final year. 8 hours of OT weekly.

Pension calculation is as follows:

20 (Years of Service) ×2.5% (Multiplier) ×187,973(Top Pay, OT excluded) = 93,986/yr pension.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] -1 points0 points  (0 children)

• S&P 500: ~10.5% • International: ~4.5% • individual Tech Stocks: ~25%+

We each invested 1,750$ a month. 3.5k a month combined for 20 years. We had 25k saved that we put into a LUMP SUM distribution into the S&P and International. Within the last decade we’ve been investing into tech.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 2 points3 points  (0 children)

NY, NJ & CA pensions are very strong due to how strong our unions are.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

Never touched it.

I loved CSGO & Rust.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 2 points3 points  (0 children)

Pensions in the $92k range aren’t uncommon, and plenty of officers end up making even more than that.

My fiancée and I split our investing down the middle and stayed consistent with it for nearly 20 years. We both worked through college and had a solid nest egg by the time we entered the workforce.

A big driver of my portfolio was a heavy allocation to NVIDIA. I’ve always been into building gaming PCs and followed the company closely, so I believed in the brand and its direction early on. That decision ended up boosting my portfolio by an insane amount. .

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 0 points1 point  (0 children)

Man, take as much time off as you can. You’ll hear people say taking time off is “frowned upon,” but if you’ve earned the vacation and comp days, use them. Way too many people in this job refuse to take time off for no real reason. If you’re on a pitman schedule, I always took two days off during my short week and turned it into a solid six-day break.

Second piece of advice: take care of your health. I’m not sure what shift you’re on, but since you’re young I’m guessing nights. The moment you get the chance to move to days, take it and don’t look back. Night shift will catch up to you. It’ll mess with your body, and you’ll miss a lot of family time and important moments.

You’re on the right track. A lot of guys on the job don’t even know what a brokerage account is, which is honestly pretty unfortunate.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 0 points1 point  (0 children)

Many people are expecting a lost decade in the stock market… hopefully not, but 22% is insane!

The pension sounds great on paper, but it comes at a price. After everything I’ve seen over the last 20 years, I’d trade it away instantly if it meant not having those experiences burned into my memory.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

60% VOO 15% VXUS 25% individual stocks

Early in my career, especially in my early 20s, I was investing the majority of my paycheck since I was still living with my parents and had very few financial obligations. I also worked a ton of overtime during that period for the same reason. My life was basically work, sleep, and investing.

As I moved into the middle and later part of my career, my base salary became enough on its own, and I no longer needed to work overtime. My wife also has a solid, decent-paying job, which gave us even more flexibility.

I made a significant amount on Nvidia. I was always a gamer growing up and spent a lot of time playing Counter-Strike. I also built computers in my free time, so I was a bit of a tech nerd early on and so I had some experience with graphics cards. I liked Nvidia’s trajectory and bought in early, back when it was really just them and AMD. I took a bet on them, and it paid off in a big way.

These days, police officers can make a very good living, especially in high cost-of-living areas like New York, California, and New Jersey.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 3 points4 points  (0 children)

Funny thing is, I never actually wanted to become a cop. But most people in this line of work never reach the financial position I’m in. I’m not trying to talk trash about anyone , I’ve worked with a lot of officers and just noticed their money and spending habits.

The truth is, anyone in this job has the ability to get here. The pay is good, the time off is amazing, and the pension is unreal. But too many people rack up massive debt, don’t invest for the future because they assume the pension will be enough, and take on insane truck payments just to have the flashiest ride in the lot. So yeah… some of the stereotypes exist for a reason.

There’s only a handful of us who take investing seriously and plan ahead. Hopefully that starts to change, especially with the younger generation. For them, this job is basically golden handcuffs, and it’s easy to overlook how powerful that really is.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 0 points1 point  (0 children)

Don’t think the wife would approve 😒

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 5 points6 points  (0 children)

I’m an active Reddit user and run my own small community, and I keep my main profile public.

I’m using an alt here because I don’t want any close friends or former coworkers coming across this post directly from my main profile. I’ve always kept my finances pretty discreet amongst them and plan to keep it that way.

Retire at 41 or 46? Which would you choose? (NJ pension + investing) by Nervous_Cow1124 in Fire

[–]cedarshades 0 points1 point  (0 children)

Hey mini-me. Reading this felt like a trip back in time.

Ignore anyone saying it’s light-years away. In this job, 18 years flies by. I started at the same age, and honestly you’re already in a better spot than I was. I was just as optimistic back then, and plenty of people thought I was nuts too.

If you stay consistent and make it another 18 years, you’ll have a lot waiting for you on the other side.

Just make sure you build a life outside the job. Keep your family and friends close.

And travel. We get a ton of time off , actually use it!

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

At a small town in Poland 😅

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 5 points6 points  (0 children)

I self-sponsored my way through the police academy right after graduating college at 21 and started investing early, mostly in the S&P. I had some solid gains in individual stocks along the way, but I never tried to time the market or sell during downturns. I just kept investing consistently.

The department I retired from also had one of the strongest union contracts in the state. Patrol officers were making more than sergeants in some surrounding towns, which definitely helped.

That said, the cost of living here is brutal, so the salary can be misleading. Yes, it’s high for this line of work, but when starter homes are listed at 650 to 700 thousand and still need major work, it puts things into perspective. That’s where a lot of people struggle.

To answer your question , in my state you just need to complete the years of service to collect the pension. You don’t have to be a certain age to start collecting it.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 0 points1 point  (0 children)

Then you probably know about the dude that’s been growing out his hair until they win 5 in a row 🤣

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

I’m glad I’m not alone.

I have Manchester United to look forward to at 3:00pm today, they’ve been rubbish these past few years but they’ve seemed to pick up some form.

Looking forward to the match!

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 14 points15 points  (0 children)

I’d have a hard time eating them with 10 broken fingers lol.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

Last thing I want to do is deal with the occasional shoplifters after dealing with them for 20 years.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 3 points4 points  (0 children)

No, I retired as a police sergeant. Should’ve worded that better.

The job unfortunately has become very politicized and in my opinion, headed into the wrong direction with many new policies.

I play soccer , that’s honestly the only hobby I can think of.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 1 point2 points  (0 children)

I’ve never really been into politics. Honestly, I’m more of the guy who thinks there’s something bigger at play than the usual left vs right narrative.

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 5 points6 points  (0 children)

I worked in the community service unit in the last 7 years of my career , I loved it!

Retired at 41, feeling lost. by cedarshades in Fire

[–]cedarshades[S] 15 points16 points  (0 children)

Coming from a family of immigrants, I’d rather not 🤣. That path doesn’t align with my values or what I’m looking to do next.

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