Retirement - what prompted you to do so?

[patrick66]

I'm ready. I've put it off twice now, but I'll be sleeping in sometime before the end of March. The whole corporate climate of PC silliness and WTF decision-making is too much for me these days. The Big Brother aspect is another thing that makes me ready to hit the ejection seat. I'm tired and I honestly fear the prospect of Death in a Cube (that could be a great film title!).

 

[Big_John]

I retired at the end of 2015. I had just turned 61.

I had sold my interest in my business a year and a half before that and was working under contract for them.

I retired for a lot of reasons. My wife had already retired a couple years before for one thing. Mostly, I was burnt out... very burnt out. My health was/is good, although some chronic problems with my neck and back were getting rapidly worse. When I sold out, there was a thought of me working part time, but I decided I'd had enough.

So... The big things are medical insurance and of course, finances. Medicare comes in at 65 and you'll need to look at the ad-ons like Part B etc. For the finances, I suggest you talk to a GOOD financial advisor or two. We use Chase bank's service for this and we've been real happy with the results. The rate that they charge is negotiable (believe it or not!) and I did a lot of "I can get it for less" as I had talked to others. They blinked a little, but they beat everyone else. I'm not sure how old you are... I started drawing my SS at 64 1/2. It just worked out better for me... I had crunched the numbers and I'll be in my 80's by the time the slightly less amount would even out with waiting to take it later. YMMV though...

I'm comfortable... Everything is paid for, but I don't fart through silk, but I really don't need that much to be happy. I tell people that retiring was my best career decision I ever made.

 

['66 Fury I]

I had planned to work until I was 69, but when the general manager was forced to retire (health concerns) and the company put me directly under the company president, I "toughed it out" for two years and retired just before my 65th birthday. I have not regretted that decision for a single second!
I tell folk that while finance has to be a major consideration, mental preparedness is even more important. Money is necessary, but it cannot buy happiness!
That's my story FWIW. Lindsay

 

[patrick66]

I'll be 64 this Summer. My legs and shoulders tell me I'm 95, though. The past couple of years have been a weird, wild ride concerning those. My wife is on SS disability, which isn't squat for money, but it does help. She has Medicare and I have Tricare. What I'll miss is the free dental through my company's health plan! My current dentist (an amazing dentist and a joy to look at, too!) is considered "out of network", so I can still see her under Tricare, but it'll be a lot more overall out of pocket.

With my military retirement, my Union pension from my former job, and my SS check, I should be fine. Plus I figure I won't have to touch my other investments until I absolutely have to.

I retired at the end of 2015. I had just turned 61.

I retired for a lot of reasons. My wife had already retired a couple years before for one thing. Mostly, I was burnt out... very burnt out. My health was/is good, although some chronic problems with my neck and back were getting rapidly worse. When I sold out, there was a thought of me working part time, but I decided I'd had enough.

I'm not sure how old you are... I started drawing my SS at 64 1/2. It just worked out better for me... I had crunched the numbers and I'll be in my 80's by the time the slightly less amount would even out with waiting to take it later. YMMV though...

 

[traintech55]

June 1st will be nine years for me. Besides my health, I was totally fed up with management at my job. My blood pressure was so high from the stress my doctor signed the papers for me to leave.

As "Big John" stated earlier, get your finances and insurance in order. For me the hardest part was getting used to getting paid once a month. I get both my pension, and SSI checks by the first of the month, so I pay everything then, and can sit back and relax for the rest of the month.

Good luck with your decision.

Bill

 

[JC68vert300]

My best advice is to stay busy. I still get up M-Sat at 6 am. I plan my week like I have a job. I am on several volunteer committees in my community that I enjoy, and meet 8 of the guys every morning for coffee. DON’T turn on the television until evening, too much of that will turn your body and brain to Maypo. My wife an I have breakfast and dinner every day together, but have separate interests. Like, she doesn’t care what I do with the cars and I don’t care if she goes with her friends for lunch and shopping, or when she sews, etc. lots of time with the family as well. As with other posts above, if your finances/benefits are in order, you won’t miss work at all. I was at the same business and location for 36 years and still have my friends from there, but I don’t give management or the place much thought at all. Good luck on your decision.

 

[MrMoparCHP]

For me time, age 62 is my target (315 more work days). That will put me at 67% of my current salary.

I feel money will be ok, enough for a project or two, travel.
I'll be relocating to be closer to family (my brothers).
Keeping busy will not be a problem, work has been in my way for the last 43 years.


Alan

 

[carguy300]

Sheese! I feel like one of the guys. Turnin 62 saturday, would love to retire but Im hoping to go to 66. That will give me 20 yrs with my company. I do hvac-r and food service repair for c- store chain here in texas. I will say the wicked hot and wicked cold snaps and rooftop work has taken its toll! Wife is retired nurse, taking care of her 84 yr old mother who lives with us. Except for 2 hernia surgurys and shoulder rebuild from a fall Im doing pretty good. Want to get my 300 done and few more bills paid before I throw in the towel. Maybe one day I will run in to some of y'all at a carshow!

 

[Just Carbs]

I started buying rent houses right out of high school in 1976, simple VA assumptions. Not dumps, but they were all in poor condition. Those were the ones that had very little equity to buy out. So, buy the house, patch it up, rent it out. Wash, rinse, repeat.
Dad turned me on to it because I wasn't a carrier person, he said. He said that I didn't want to work for anyone and no one wanted me to work for them. Interesting thing for an engineering professor to tell his son. He's still telling me things like that, as he lives in my guest house out back. He's 95 and total blast.
By 1980, my no fun day job that I wasn't making any money at anyway was getting in the way of the fun housing thing that was by then making some bank. Buy 82 I didn't have a day job. Haven't had one since. Just houses. But don't work on them, haven't for decades.
The way I see it from looking back at the long journey is the sooner a man gets out from under another man the better for some of us.
So, I'm in no position to discourage any person from claiming their freedom.

 

[75LandYacht]

I’m 58 and plan on jumping ship at 62. I retired after 20 years in the US Navy at 39, currently working on my second pension and annuity with the local union here in New York. 4 more years and I’m done. CAN’T WAIT.!!!

 

[Slap Stick]

In March of 2020 the boss walked into the shop and announced the three of us were being laid off due to, well, the flu.
I had been there 37 years, was 64 and wanted to make to 40 years and tell em to pound sand.
I started drawing SS at 63-1/2 and was banking every penny, so I didn't have to worry about an income. With all the BS for the next year or so, I decided I was tired of the grind and decided to be (re)tired.
I have learned over the past four years that doing nothing is hard work. You never know when the job is done.

 

[69PHOENIX]

G'Day,
My Comments for what they are worth!
Due to Finances I had to Work Till I was 69.
Over the Last 10 or so Years I Slowly gathered all the Good gear to do my Car.
G/Vendors, Trutrac, Disc Brake Rear, All New Shocks & Bushes, Reco P/Steer Box & Pump
Reco Brake Booster & M/Cyl , New Radiator, ETC., ETC.,ETC.
Trouble is I Now Find Myself so Crippled by Arthritis that I Can't work on My Own Car.
Can't Afford to Pay Someone Else.
One of My Friends took a Spare Diff Housing & said he would Clean & Paint for me etc.
That was 18 Months Ago!
Another is Recoing My Heads for me He Started 12 Months Ago!
Another Fella was Going to Pull Part of My Dash out for Me.
Again that was 9 Months Ago.
All I'm Saying is this,
If You can Afford to, Retire While You are Still Young Enough to ENJOY Life.
No Point in Retiring into a Rich Miserable Old Age.
Kind Regards Tony.M

 

[3175375]

I retired on October 1, 2017, the first day that I could, at 55 years old.

I have never looked back. I had worked for Hughes Aircraft Company for almost 33 years. I had contributed to a defined benefit pension.

Why? I was spending 3+ hours a day in Los Angeles traffic and the interest rates that were used to calculate my pension were the best in company history. I would have worked for free if I stayed.