Thread regarding Verizon Communications Inc. layoffs

VSP

I got pretty lucky a while ago after almost 30 yrs i took the VSP and was in the first group in September 2024 at 62...

my verizon health care ends at the end of november and if i want to keep it, it will be out of pocket.

i am covering the last 22 months till i hit 65 and get medicare with va health care, and i still have a good chunk of my vsp money left to live on for now...

i have not touched my 401 or my investmnts yet, and i have not filed for social security either.\

i agree that simplifying your life helps a lot and the drop in stress is a huge bonus!!!
but everyone has different situaitons, different ages and their own finances to adjust to...

work every angle, you might be surprised whats out there to help you.

i wish the best of luck to everyone at verizon dealing with the rif, and if you were good at what you did, another opportunity will come along.

#VSP #VoluntarySeparation #Retirement #HealthInsurance #RIF
by Anonymous
| 1421 views | | 5 replies (last November 26) | Reply
Post ID: @OP+1kayx2ecz
Comment! It's anonymous!

5 replies (most recent on top)

@a2 You need to enjoy your retirement. Don't wait too long

by Anonymous
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Post ID: @bx+1kayx2ecz

You retire when you have to, but these days 67 years old is the new retirement age. Personally I'm going to shoot to work until 70 years old.

by Anonymous
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Post ID: @b8+1kayx2ecz

I am jn the same situation(in my 50s). Verizons coverage of my insurance just ended. They quoted $2600/month for 2 of us. I replaced it with insurance through UHC for $800/month. I am starting a new role and will have better insurance January 1. Were you all quoted similar rates from VZ after your severance ended?

by Anonymous
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Post ID: @a8+1kayx2ecz

@OP also my advisor advised against applying for Social security before 67 years of age. Everyone's situation is different to check with your financial advisor for advice.

by a2+1kayx2ecz
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Post ID: @a3+1kayx2ecz

@OP same here, took the VSP Sept. 2024 after 36 yrs/63. I still have severance, rolled my 401k to an IRA Oct 2024, cashed out stock @ $45 per share, rolled over that too. Have not touched 401k or my pension. While family and friends were traveling globally, I paid off my vehicle and remaining mortgage before VSP offer- taking staycations. I missed out on cruises, European trips, Alaskan trips etc. but I was prepared when the VSP was offered.

by Anonymous
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Post ID: @a2+1kayx2ecz

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