I’m closer to retirement than not. I’ve hoped before that I'll be working far longer, but I’m so fed up with this place and the corporate world in general that I got to the point that I wouldn’t mind shaving off a few years. I’ve set up my finances a while ago, have been lucky with some choices, and I can be comfortable with what I’ll have. If I get bored or short on money, I can always look for some fun or meaningful job on the side, which doesn’t even have to pay well. When you get to this state of mind, you kind of realize that many things you chased after in life haven’t been all that important. Making sacrifices for a career, especially these days, I found to be exceptionally silly.
15 replies (most recent on top)
I came to the same conclusion years ago, took the package, have enough for retirement and never looked back. There is a life outside Vz that is much sweeter without the corp bs. Go for it!
@1aow+1tqMgD2y absolutely consider the expense. Just keep in mind that there are RIFs to follow and you could end up out the door anyway, with only 35 weeks. If you were considering retirement, but the only thing holding you back is the healthcare costs, you can find a job that makes enough to cover just that for a few years. In that case, you are still better off taking the severance and running.
Take it. Run. As someone who's left, know the world is better without VZ.
@1kix+1tqMgD2y and @1vxu+1tqMgD2y - Both of you - Thank you
I am late 50's, kids are grown up and they have their own family
I am thinking to take VSP package. After 18 month COBRA , then join Verizon Retiree medical for continue coverage until Medicare
Now I need to think it over again
Verizon retiree medical is expensive. The Anthem EPN plan is just under 24,000/yr for Retiree + Spouse. The marketplace plans that are comparable have higher deductibles and copays and coverage that is not as good. Unless you are 65 or can afford paying for your healthcare, it's tough to retire. If you aren't ready for retirement and can swing it with savings/severance until you find a new job, then go for it.
Medical coverage is probably the biggest deterrent for not taking the VSP, unless you are 65+. Vz really sc--wed us over when we merged with GTE. Prior to that you could retire with rule of 75 and have coverage paid by the company.
Social Security 62, Medicare 65
For the person saying you can qualify for Medicare at 62 please share the source of that info. The only exception that I'm aware of is if you have a disability or other health issue like ALS or kidney disease. Otherwise Medicare eligibility starts at 65.
The cost of Verizon Health Insurance for a husband and wife is about $34,000 a year.
11 hours ago by Anonymous | 2 reactions (+1/-1)
Post ID: @1qgi+1tqMgD2y
___________________________
for the Guam Medical Plan (minor detail)
If you are 62 or over and decide to collect Social security you will qualify for Medicare, medical dental and vision coverage. If, you decide not to wait until 67 or 70; years of age.
The only practical difference between someone not retirement eligible who takes the VSP and most people who are retirement eligible and take the VSP is a 25% wireless discount.
The cost of Verizon Health Insurance for a husband and wife is about $34,000 a year.
Verizon offer medical coverage for retiree before Medicare if you are eligible
Although Verizon does not pay premium for retiree , it is still cheaper than market offer for the same coverage,
Am I correct ?
Both the wife and I work for verizon im on her medical with the kids and she's got the sweater gig so I guess im out for a more meaningful job
If you can financially retire, do it. Life is way too short. As you get older I realized more often than not many people do not even get a chance to retire. Whatever you decide I wish you well....Best of Luck to you!
For many it comes down to costs for healthcare. Out of pocket for a family coverage plan is typically a few thousand each month and Medicare doesn't kick in until age 65. I would probably go for the vsp if not for the high cost of non employer sponsored health insurance.