I think I've made my retirement decision....

[Vlach7]

My L47 was my retirement gift to myself. never looked back.

 

[Daferris]

RCW Congrats! I am plan on retiring in about 75 weeks from now. Could retire now and it may end up that was.... Just turned 65 The funeral for a coworker that died at 60 is tomorrow. Still working remote and enjoy what I do. But if my company says that we all need to go back into the office I will retire 1st. Money is not an issue it's just my enjoyment of what I do. I'm in outside sales and I never have anyone come in to the office. It's always site visits, E-Mail, WebEx or phone. That's a big part of the enjoyment of what I do helping solve issues. Growing my accounts and not being cooped up in an office micro-managed. Probably after I retire I will get more active than I already am with the VSCDA and SCCA as I do the Timing & Scoring for the Road Races in Michigan. Probably end up traveling more and work events in Wisconsin & Illinois as well.
Even tractors occasionally go to race tracks Have a Daughter & Son in Law that live not far from GingerMan that needed a new driveway a couple of years ago....

 

[GrumpyFarmer]

I’ve never seen a headstone that indicated they wish they spent more time at the office / work. Enjoy it when and while you can.

 

[GrizBota]

I’ve never seen a headstone that indicated they wish they spent more time at the office / work. Enjoy it when and while you can.

Funny. My Dad told me that. I might have shared it here. I fully concur with the sentiment.

I’m “officially” retired for one employer, but I’m still working, mostly the hours I want, when and where I want. For another employer, that sells my labor back to the previous employer with a “wee bit” of a mark up. After 30 plus years in the rain, I try to schedule my field days for the days it doesn’t rain. It works sometimes.

 

[RCW]

My L47 was my retirement gift to myself. never looked back.

I've considered replacing my BX and its attachments several times over last few years.

I also didn't plan for vehicle replacements.

We've both been fortunate enough to have new cars for many years.

Drive them 5-6 years then trade. In upstate NYS and its salt, vehicles don't last like they might in other places.

Given the COVID market and interest rates, our vehicles are nearly 7 years old. Late for us.

I think we can tolerate/accommodate these expenses, but it does make one take pause in an unknown/uncertain future......

 

[RCW]

OP, you’ve done your time. Pull the plug and enjoy what you’ve worked for. We’re all a cog in a machine and if we die at our desk, they will have us replaced in some capacity easily within a year, month or week.

Fait won’t deal us an extra 5 or 10 years of life because we worked 45 instead of 40 years. Nope, we’ll just be gone having worked more years.

lol. 7 figure salary. Thought that was reserved for sports figures, movie stars, a few doctors, judges and crooked politicians? Most folks retire with less than 7 figures total.

Although comparison is the thief of joy, play with this calculator a little bit and some might realize they are doing a bit better than they might have thought. You know what the most common net worth is regardless of age? Zero, yup, nothing! See image below

Net Worth Percentile by Age Calculator

A 7 figure 65 year old is nearly 77 percentile.

I retired after over 30 years as a workaholic and now work part time remotely. Got everything paid off and kids through college. I go to the job sites occasionally. It’s been a good gig for the last couple years. Haven’t touched a dollar in the retirement accounts and don’t plan too for a while. Flexibility and autonomy. That’s the key for me. The wife wants to fully retire in a few years. She probably will. I’ll probably do some part time stuff.

See the longest blue line? That’s 250k households with zero net worth. The single most common value of net worth. Pick and age, any age. That’s what you’ll find.

View attachment 125040

This is really spooky. The % with a negative net worth is astonishing.

After my concern mentioned above about tractor/vehicle replacement, this is not helping my cause.

Appreciate the analysis. Surprising to me. Really appreciate it.

We aren't (net), but I don't want to get there.....

Now I'm having second thoughts, but they were quickly dispelled by my recollections of today.....

I'm going.....

Damn the torpedoes....

 

[Moose7060]

This is really spooky. The % with a negative net worth is astonishing.

After my concern mentioned above about tractor/vehicle replacement, this is not helping my cause.

Appreciate the analysis. Surprising to me. Really appreciate it.

We aren't (net), but I don't want to get there.....

Now I'm having second thoughts, but they were quickly dispelled by my recollections of today.....

I'm going.....

Damn the torpedoes....

"The only thing we have to fear is fear itself"

"Don't let fear or common sense hold you back"

 

[ctfjr]

Good luck RCW. I ran my own business for 25 years before I closed it and went to work for a competitor. That was 30 years ago. It's time for me too. Monday I am telling our CEO that I'm done the end of May.
They have been very good to me (family business).

About 5 years into this job he asked me how long I intended to work. I told him as long as I enjoyed doing the work I was in. Likewise if he ever felt I wasn't cutting it anymore all he had to do was say the word.

Since covid I've been working remotely and don't even have an office there anymore. As much as I do enjoy the current arrangement (and the check) I decided its time.

10 years ago I remember telling my college roommate's wife that it isn't how long you live, its how long you can do the things you want to. Within a year she sold her business and they both retired.

My turn

 

[Vlach7]

I've considered replacing my BX and its attachments several times over last few years.

I also didn't plan for vehicle replacements.

We've both been fortunate enough to have new cars for many years.

Drive them 5-6 years then trade. In upstate NYS and its salt, vehicles don't last like they might in other places.

Given the COVID market and interest rates, our vehicles are nearly 7 years old. Late for us.

I think we can tolerate/accommodate these expenses, but it does make one take pause in an unknown/uncertain future......

I rebuilt a 2004 Duramax dully with lots of U tube help and the damage you see is incredible. About the only good thing in California.

 

[NorthwoodsLife]

Congrats!!!!!

I'm retired for almost 2 years now.

I could rabble on for days about this new 'retired' life.

But in a nutshell, retiring saved my life. Or what's left of it. Too many men drop dead on the job or while holding a stressful job.

Screw that. Hop on the motorcycle and ride Baby, Ride! Or tractor and dig, Baby Dig!

I plan HOPE to cross to the other side fast and happy.

Enjoy it.

 

[InTheWoods]

...Now I'm having second thoughts, but they were quickly dispelled by my recollections of today.....

I retired (mostly) at age 62 a year ago. I spent a long time before that pondering it. I finaly realized the only time I'd be 100% sure it was the right time was if I waited until I was dead.

So, I settled for being 51% sure and haven't regretted it for a nanosecond since.

 

[chim]

The warehouse supervisor and I were discussing retirement a few months before I decided to go. He already had his own plans and told me "Don't worry. You'll know when it's time". When I went to tell him I finally decided he said "Yep, I could tell". Apparently I didn't conceal just how ready I was

The job was fun, but at 72 it was time to start the retirement. I ran the shops, bought and rented equipment and reported to the COO (who donated a lot of material for a couple projects at church). Had plenty of freedom and could go play in the shops whenever I felt like it. Had access to anything the company owned for personal use from power snakes to bucket trucks.

When I told the rest of the people in the shops and offices I was going to retire, one draftsman said "I'll give you six months". I assured him I severely doubted I'd want to return. He then told me he meant six months till I died, because that's what happened to the guys he knew. So far so good

 

[D2Cat]

The warehouse supervisor and I were discussing retirement a few months before I decided to go. He already had his own plans and told me "Don't worry. You'll know when it's time". When I went to tell him I finally decided he said "Yep, I could tell". Apparently I didn't conceal just how ready I was

The job was fun, but at 72 it was time to start the retirement. I ran the shops, bought and rented equipment and reported to the COO (who donated a lot of material for a couple projects at church). Had plenty of freedom and could go play in the shops whenever I felt like it. Had access to anything the company owned for personal use from power snakes to bucket trucks.

When I told the rest of the people in the shops and offices I was going to retire, one draftsman said "I'll give you six months". I assured him I severely doubted I'd want to return. He then told me he meant six months till I died, because that's what happened to the guys he knew. So far so good

I remember reading about a study made of retired officers from the WW2 era. Those that retired to nothing, set on the porch and watch the cars go by, lasted like 26 months. It pointed out the importance of keeping busy, having a hobby and not just quitting all things i life.

To those who frequent forms like this obviously have some land, tractor of some kind, implements, and enjoy using them. That is a value many don't consider when purchasing a machine on your property.

 

[Siesta Sundance]

I remember reading about a study made of retired officers from the WW2 era. Those that retired to nothing, set on the porch and watch the cars go by, lasted like 26 months. It pointed out the importance of keeping busy, having a hobby and not just quitting all things i life.

To those who frequent forms like this obviously have some land, tractor of some kind, implements, and enjoy using them. That is a value many don't consider when purchasing a machine on your property.

^ Exactly!

I often tell my friends, there is no better satisfaction or feeling than getting some Orange therapy operating tractors/skidsteer etc.

 

[PHPaul]

^ Exactly!

I often tell my friends, there is no better satisfaction or feeling than getting some Orange therapy operating tractors/skidsteer etc.

That's right up there for sure, but I think motorcycle therapy might be a touch better, at least for me.

 

[AndyM]

one of the two or three best decisions I ever made. Lots of questions - no regrets.

 

[LFP57]

Spent a number of years wondering if I was going to make it through the next round of salary employee cuts, made to full retirement age, applied for SS and here Iam still working even after telling everyone that once I could retire, I would. I look forward going to work everyday, I have a great job, payed well and I get to play with all of the cool toys. I keep working, maybe just a little concerned about what it will be like not working anymore.

 

[Charlie5320]

I was a supervisor in the HVAC field at a major healthcare facility for several years. Very stressful job. I've been retired for 10 year Feb 7th. Can't tell ya how it felt the day I put my 2 weeks notice. Like a huge weight lifted. My wife was diagnosed with ovarian cancer about 1 1/2 years later, and I was able to take care of her at home. She will be gone 7 years in May, right after mothers day. I'm not doing so good myself but sure glad I'm not punching the time clock anymore. Do it, don't look back ! We only go around once, if yer healthy go do what ya want.

 

[RCW]

I was honestly very speculative when I started this thread, but knew something had to change.

I got a good projection of my final benefit in the mail yesterday. I used July 31 as a retirement date for projection purposes. 36.75 years in the pension plan.

We can make it work…..another piece of the puzzle….check….

I haven’t pulled the trigger with my employer yet.

That’s a time TBD, but guessing I will try to be in the July 31 timeframe. The Mrs. and I have to have some more conversations.

 

[bird dogger]

I was honestly very speculative when I started this thread, but knew something had to change.

I got a good projection of my final benefit in the mail yesterday. I used July 31 as a retirement date for projection purposes. 36.75 years in the pension plan.

We can make it work…..another piece of the puzzle….check….

I haven’t pulled the trigger with my employer yet.

That’s a time TBD, but guessing I will try to be in the July 31 timeframe. The Mrs. and I have to have some more conversations.

RCW, it sounds like all that's left for you to do is make it official and set the date!! You won't regret it for a minute.

I learned early on that nobody has your best interests in mind better than you yourself. Whether pertaining to the retirement date decision, what to do in retirement, and especially how to manage your retirement funds.

Beware of the financial planners/managers that want to manage your portfolio and invest the funds in high expense ratio funds that they get a commision for, as in "make a market in" those particular funds.
Or like to "turn over" your funds every so often so they can make their brokerage fees for those transactions, etc.

In these days...it's tough to beat a good ETF fund like Vanguard's VOO or Invesco's QQQ for an ultra low cost maintenance fee along with an average annual return in the 10% range.

For a good 3 years after retirement, I was hounded by different money managers that wanted my business. For the first couple of years I'd go talk with them and very few would steer me in the direction I knew was best. They also wanted up front commisions and wanted the money in their retirement funds with high annual manitenance fees. Some of them bragged that they could beat the market and average 7% returns.

Asked why would I want to give up my 10% - 15% return average for the last 15 years and more.....they didn't know what to say. There was one out of the bunch that admitted that almost no one that comes to them looking for a retirment fund manager has a clue about their fees, low cost fund options to ask for, the difference between an ETF fund and a high maintenance expense mutual fund, etc., etc.

It pays to "bone up" on the different investment companies available, their fees, and the different types of funds (ETFs, Index funds, individual stocks, mutual funds, all the different industry sectors, etc.).

There are a few good investment firms that will give you all the tools, options, and easy lessons to manage your own portfolio with your best interests in mind, and at a very low expense ratio .....and their still making enough money to stay in business.