Retirement

[Magicman]

 

[GrizBota]

Another freedom that ain't free. Lol.
It's what I could do with the $16k a year besides insurance that would be stopping me. Add a screened in patio or deck, replace the driveway, buy a new tractor.... all things that I would rather pay for over insurance. That's why I would lean more toward the $8400/ year option. We would have to do that for 3 years till I would hit 65.

Indeed. More of an earned freedom.

I look at it this way, if a fellow has much in the stock market, it’s not too hard to loose $16k in a day or week, and maybe, if your lucky, earn it back the next week or month. Helps put some of those numbers in perspective for me. Yes it’s a lot of money, but is it life changing amount of money? Everyone’s situation is unique to them, so I certainly respect that.

 

[fried1765]

It is a conundrum for some. Looking at projections for my retirement accounts, we could swing it for a few years until it goes down. I just have a hard time swallowing $1300/ mo for it. It is prorated from 58- 65 years old. At 65 its under $400. I may split the difference and dip out at 62 where it drops to about $600. As someone in an earlier post said- it may depend on how many bad days in a row there are

I would not wish my particular situation on anyone....but!
That said:

Survived Vietnam uninjured.
Divorce ....unanticipated.... at age 57.
Mandatory retirement (federal) at age 60.
1/2 retirement as well as 1/2 of all other assets disappeared in divorce.
Luckily.......life goes on!
Will be 83 this Fall!
23 years since retirement, and 26 years post divorce,...... I am a very happy camper!
Health is the ONLY thing that is REALLY important!
Take whatever you can get, just as soon as you can get it, and adjust your lifestyle as appropriate.

 

[LFP57]

I have three days to go, will keep going until it's no longer any fun working.

 

[fried1765]

I have three days to go, will keep going until it's no longer any fun working.

My work was "fun" too, but I found out that not working is even MORE "fun".

 

[GrizBota]

I have three days to go, will keep going until it's no longer any fun working.

Right. That I get.

Believe it or not, sometimes there are even better work options than person’s current situation to transition into full retirement. I found one. Admittedly it’s a bit worrisome to go from something well known and “comfortable” to the new and unknown. I retired with full benefits and work part time for way better pay. But it’s only out there if you either look for it, or get lucky (well, sometimes we help make our own luck) and have an offer or two to pursue.

I agree with @fried1765, retire when you’re eligible (and healthy if that’s possible). No days are guaranteed.

My Dad (now long deceased) told me decades ago “Son, they won’t write “I wish I had spent more time at the office.” on your tombstone.” I think Dad was right.

 

[bird dogger]

Weird day at work today. Been with the same company 33 years. Well over half my life. Started as a secretary answering phones, filing, etc. Took a pay cut from climbing trees for a tree service to start a more “career” job. Worked up to the job I really wanted after a couple years and made it well past tree service pay. Ended as a manager. One of my goals was to be making 10 times my original salary by the time I left. Not to get political but I’ll have to admit a little boost from inflation helped some to reach that goal.

Today, officially announced I’m leaving at the end of the year. I’ve pretty much known for a while but still a little odd to pull the trigger and make it official.

Next year I’ll just be a tree farmer. Lots of stuff needs to be done on the “farm”, (almost embarrassed to call tree farming “farming”) both physically and from a business standpoint, that I currently simply don’t have time to do with a 50 to 60 hour normal work week at my W-2 gig.

I suspect the L needs to brace itself for a LOT more work starting in January. We have about 30 acres that is quite accessible via Mule/tractor and another 40 that requires a machete or bush axe to traverse. That needs correction. The pond would be much more user friendly with a small dock. We have a land swap with a developer in process. If that closes, I have about 4 acres of fields that were hilled up by a tobacco farmer but never planted due to sale of the land two years ago which will need to be flattened and planted either with grass or pines. If that doesn’t go through I’ll have to fence in the portion of the kudzu pit we own so I can put goats on it. Need to get the copious deadfall out of the 35 acres of pines so we can harvest the pine straw. Need to look into carbon credit tree saving programs as a potential alternative to harvesting the timber. Probably some stuff I’m forgetting. Anyway, lots of stuff to be done that there’s just no time to do currently.

If we can get some of that in order, we might find some time dust off the Airstream and travel a bit more.

Not a bad thing, but it does seem weird to be making plans here that I’ll never see come to fruition and consider come January I won’t be getting up at 5am to go to an office somewhere. I guess there are quite a few here who have made that transition and somehow survived. I probably will as well.

Congrats, NCL!! You won't regret pulling the plug.

I retired after 42 years at the same company. One day I said, "That's it for me and I'm running out my built up vacation. Holler if you need me, otherwise I'll be back for the last day."

I had no specific plans, ideas, etc. When the door slammed behind me that last day.... I was worried about what had just happened. Got in the car to drive home. Before I hit the interstate (2 miles) it was all rainbows, lollipops & unicorns!!! Never once looked back....other to think that I should have left earlier. That was at age 62 and about 8 years ago, already.

There never seems to be a dull moment or idle day.....unless you force yourself to just sit down and relax. Between tractoring, all the different hobbies, helping out family, neighbors & friends...... there just isn't enough time in the day. And new interests and ideas seem to pop up at least once a month or more!!

And I don't care what the wife thinks......before next spring I'm ordering a "One Wheel GT" or equivalent. If it wasn't already too far into the summer there'd be one on order now. But they don't make snow tires or chains for them so it'll be wise to wait til next spring!!

Congrats again, NCL!!

Oh, Oh!! Gotta run. My locksmith buddy is calling. Maybe another safe "lockout" to help crack!!

David

 

[GreensvilleJay]

curious about this...
Mandatory retirement (federal) at age 60.

seems to be a LOT of federal employees a LOT older still on the payroll.....
..smacks of discrimination and so against federal law ????

 

[fried1765]

curious about this...
Mandatory retirement (federal) at age 60.

seems to be a LOT of federal employees a LOT older still on the payroll.....
..smacks of discrimination and so against federal law ????

Airline pilots had a federally mandated age 60 retirement until 2007, when it was changed to age 65.
I retired in 2000, at the then mandatory age of 60.
The US House voted for a bill just last month, that would now raise the retirement age to 67.
The Senate has yet to vote on the bill.

Airlines are having pilot staffing problems.

United Airlines has implemented their own pilot school, hiring non pilots off the street for training.
The UAL expressed emphasis is..... DIVERSITY.
At UAL you may not have the most qualified pilots, but you may be assured that you will have the most diverse pilot crew.

I very seriously doubt that UAL will advertise this.
Likely, there will be some sugar coated double talk?

 

[GrizBota]

I very seriously doubt that UAL will advertise this.
Likely, there will be some sugar coated double talk?

Makes me recall the time UAL voluntold that doctor that he was giving up his seat to a UAL employee and was given some broken teeth and a rouging up for his trouble. I try not to fly with them.

Anyhow, yes very real issues with pilots aging out faster than well experienced folks are available to replace them. It is pretty scary when the check airman recommends not moving a pilot from FO to captain and it’s done anyhow. Or a “pilot“ is hired regardless of the check airman’s protests. Usually doesn’t take those folks too long to run one off the runway, or worse.

 

[old and tired]

Oh, I forgot... have the party... it's not as much for you as it is free food for the rest of the people!!!

 

[NCL4701]

I have three days to go, will keep going until it's no longer any fun working.

Fun? My work has often been challenging and always rewarding, but fun? What is this fun you speak of?

If your work is fun and provides a way for you to make a decent life, you are seriously blessed.

 

[NCL4701]

Right. That I get.

Believe it or not, sometimes there are even better work options than person’s current situation to transition into full retirement. I found one. Admittedly it’s a bit worrisome to go from something well known and “comfortable” to the new and unknown. I retired with full benefits and work part time for way better pay. But it’s only out there if you either look for it, or get lucky (well, sometimes we help make our own luck) and have an offer or two to pursue.

I agree with @fried1765, retire when you’re eligible (and healthy if that’s possible). No days are guaranteed.

My Dad (now long deceased) told me decades ago “Son, they won’t write “I wish I had spent more time at the office.” on your tombstone.” I think Dad was right.

Interesting points. Oddly enough, I’ve had two unsolicited job offers for 1099 contract work already. Told them no, but both told me to call if I get bored after the project list is worked down in a year or so. I really hadn’t even thought about such, but there are opportunities even after “retirement”.

Right now, the second point about no one saying they wished they’d spent more time at the office is ringing louder to me.

 

[fried1765]

Makes me recall the time UAL voluntold that doctor that he was giving up his seat to a UAL employee and was given some broken teeth and a rouging up for his trouble. I try not to fly with them.

Anyhow, yes very real issues with pilots aging out faster than well experienced folks are available to replace them. It is pretty scary when the check airman recommends not moving a pilot from FO to captain and it’s done anyhow. Or a “pilot“ is hired regardless of the check airman’s protests. Usually doesn’t take those folks too long to run one off the runway, or worse.

I have a pilot son who is a director of flying, at a different airline.
They have not yet devolved to the stupidity level of UAL, but I suppose a trickle effect will eventually be felt across the entire industry.
Much like California stupidity issues often overflow to the rest of us.

 

[The Evil Twin]

I would not wish my particular situation on anyone....but!
That said:

Survived Vietnam uninjured.
Divorce ....unanticipated.... at age 57.
Mandatory retirement (federal) at age 60.
1/2 retirement as well as 1/2 of all other assets disappeared in divorce.
Luckily.......life goes on!
Will be 83 this Fall!
23 years since retirement, and 26 years post divorce,...... I am a very happy camper!
Health is the ONLY thing that is REALLY important!
Take whatever you can get, just as soon as you can get it, and adjust your lifestyle as appropriate.

Health AND happiness Although, happiness can improve health!

 

[LFP57]

Fun? My work has often been challenging and always rewarding, but fun? What is this fun you speak of?

If your work is fun and provides a way for you to make a decent life, you are seriously blessed.

I work for large company, I'm the only person in a large (Covid changed who comes in) building, set my own work schedule, get to play with all of the cool toys we have in engineering. Best part is that if things change, I can leave anytime.

 

[LFP57]

Right. That I get.

Believe it or not, sometimes there are even better work options than person’s current situation to transition into full retirement. I found one. Admittedly it’s a bit worrisome to go from something well known and “comfortable” to the new and unknown. I retired with full benefits and work part time for way better pay. But it’s only out there if you either look for it, or get lucky (well, sometimes we help make our own luck) and have an offer or two to pursue.

I agree with @fried1765, retire when you’re eligible (and healthy if that’s possible). No days are guaranteed.

My Dad (now long deceased) told me decades ago “Son, they won’t write “I wish I had spent more time at the office.” on your tombstone.” I think Dad was right.

Most that replied haven't mentioned exactly what it is that they do for a living, I have a great job, paid well and get to play with all of the cool toys, no reason not to keep working, receive my normal pay and collect SS, when the weather changes next spring, I'll be retired.

 

[Trapper Bob]

Interesting points. Oddly enough, I’ve had two unsolicited job offers for 1099 contract work already. Told them no, but both told me to call if I get bored after the project list is worked down in a year or so. I really hadn’t even thought about such, but there are opportunities even after “retirement”.

Right now, the second point about no one saying they wished they’d spent more time at the office is ringing louder to me.

A little uncertainty comes with any major life decision. You sound like you have thought this thru. I’m happy for you. Happy enough to join you in the retirement ranks about 6 weeks after you retire. On 8/16, I will have spent 45 years in the same job, for 2 different companies (I/1st company was sold to the 2nd company & it was a good deal). As you are, I’m ready to get my farm in order.

I wish you all the best.

 

[GrizBota]

A little uncertainty comes with any major life decision. You sound like you have thought this thru. I’m happy for you. Happy enough to join you in the retirement ranks about 6 weeks after you retire. On 8/16, I will have spent 45 years in the same job, for 2 different companies (I/1st company was sold to the 2nd company & it was a good deal). As you are, I’m ready to get my farm in order.

I wish you all the best.

Wow 45 years. Impressive. Hopefully it’s been good on the average.

I’m just a pup relatively. 36 years in the industry, with my last stint being 31 years, just starting another with less than 2 years in. On the average, I’ve enjoyed what I’ve done and I’d do it again (maybe not “exactly” the same way, but in general).

Those days where a person is uncertain and/or nervous about the next significant step or decision they are making, I call those growing days. Growth isn’t a smooth upward curve. There are vertical jumps in that line occasionally, and that’s what those days are.

 

[NCL4701]

I talked to my brother a good bit about the taking a leap thing because he had a much different career path. He realized early he didn’t fit well in a corporate job and started a business, built it up, and sold it. Then started another business and did the same. He’s on I think his fourth start up and plans to finish out with this one.

Told him I figured he was used to making those big moves by now. He said not at all. Every time he knew it was the right decision to sell and move on, but he never really knew what his next move was so it was always jumping off a cliff not knowing exactly where he’d land. That’s kind of where I am. I know it’s the right decision and it all looks good on paper. Everyone I talk to, from people at work to financial planners, accountant, attorney all it’s a no brainer. But it’s still a bit of a cliff diving exercise.

To some degree that’s what keeps life interesting. If my life was a book I was reading the second time and knew how it all turns out and how I get there it would be less stress but it would also be kind of boring.

I know I title this thread “retirement” mostly because I really did want to hear the experiences of active people (most, if not all, here qualify) who have moved on from their primary vocation and others who are in my situation, on the cusp. But “retirement” isn’t sitting on your butt. It’s moving on to different work that may not be as monetarily lucrative and is generally less demanding.

I don’t hate what I do, but unlike some others I am tired of what I do. Time to do something different.