Retiring
Feb 3, 2015 02:03:10 #
Im seriously considering retiring in July, I will be 58. I have health insurance thru the VA, I'm debt free and going to not touch my pension plan. My wife has a decent career and we will be living off her income. when she retires we will tap into both of our retirement plans. I can find some part time work at community colleges teaching. I could wait to retire in a few years but in the long run the monthly payments I would receive by waiting are only about $40.00 a month more.
Anyone else out there tried this and how is it working out for you?
Anyone else out there tried this and how is it working out for you?
Feb 3, 2015 04:06:48 #
Feb 3, 2015 04:23:11 #
jim quist wrote:
Im seriously considering retiring in July, I will ... (show quote)
I retired at the age of 51 and could not be happier. You DO have to find things to keep you occupied...Sometimes, this can be harder than one might think. At first, I had all kinds of projects, travel and hobbies planned...Like in war, no plan survives contact with the enemy....LOL... However, I was soon busier than I was when I was working. The difference was that I had choices and no longer had to call anyone "boss". Like you, I am and have been relatively financially secure. Good luck, and please report back and let us know how it works out for you... :thumbup: :thumbup:
Feb 3, 2015 05:22:58 #
jim quist wrote:
Im seriously considering retiring in July, I will ... (show quote)
Do it! Especially the part-time bit. I'm now working 5-10 hours a week flexitime. Keeps my brain active, doesn't intrude too much, and best of all, still get that 'Friday feeling'!
Feb 3, 2015 05:50:42 #
I retired at age 59 and have been enjoying it for 20 years, I keep busy with volunteer work but only do things in whichI have an interest and which I enjoy. I recommend it.
Feb 3, 2015 05:56:37 #
I retired from the Air Force in 1988 with 3 kids at home who weren't teenagers yet. I retired again from the U. S. Dept. of Agriculture in 2013 and moved to Columbus to be near our daughter & her family. Now I'm working full time to stay out from under my wife's feet. There are lots of projects that are still waiting to be started. Planning to REALLY retire in a couple of years.
Feb 3, 2015 07:29:19 #
I retired 10 years ago. Rather than sit on my butt and watch TV I started working full time on my farm. I get exercise and fresh air. I get to play with tractors (I have 5 now). People like my products and I learn a lot of new things.
I no longer have time to watch TV (no loss there). I keep my weight down (at least during the growing season). I have a hobby that makes me some money (which I use to buy more tractors [and an occasional camera or lens]). I'm in a basic industry (feeding people) that provides local fresh products to local people.
The only problem is during the winter, when I sit on my butt typing inane things on my computer.
I no longer have time to watch TV (no loss there). I keep my weight down (at least during the growing season). I have a hobby that makes me some money (which I use to buy more tractors [and an occasional camera or lens]). I'm in a basic industry (feeding people) that provides local fresh products to local people.
The only problem is during the winter, when I sit on my butt typing inane things on my computer.
Feb 3, 2015 07:37:05 #
DAVE FISHING wrote:
You need a hobby to keep you busy.
I have heard that so many times it's almost annoying. I retired at 60,as did my wife,and we are busier than ever. Sometimes too busy,but happy with having no commitments. Some like it and some don't,you know who you are,what you want to do and what you don't want to do. If you don't,do what you think will make you happy.
It's an individual thing. "Try this cake,you'll love it." Maybe yes,maybe no. :-)
Feb 3, 2015 07:37:10 #
Amen to all of the above.
There have been several studies that show that the earlier you retire, the longer you live. They attribute this to lower stress in later life, and doing that which you enjoy.
Retirement has allowed me to teach a class at the local Comunity College, volunteer for ProjectC.U.R.E., do work for the local hospital foundation, work out in my shop, tend to my garden, and spend a lot more time developing my photography skills. You will likely find your days are busier, and far more enjoyable, than when you worked full time.
And, best if all . . Every Day is Saturday!
😊😊😊
There have been several studies that show that the earlier you retire, the longer you live. They attribute this to lower stress in later life, and doing that which you enjoy.
Retirement has allowed me to teach a class at the local Comunity College, volunteer for ProjectC.U.R.E., do work for the local hospital foundation, work out in my shop, tend to my garden, and spend a lot more time developing my photography skills. You will likely find your days are busier, and far more enjoyable, than when you worked full time.
And, best if all . . Every Day is Saturday!
😊😊😊
Feb 3, 2015 07:40:32 #
Feb 3, 2015 08:10:25 #
I did, Jim, and unless you golf a lot, by the time you hit 65 you'll pretty bored. My suggestion...work until your wife retires and stick your paycheck into savings or some type of reliable short term mutual fund like a stock/bond type. Then, once you do retire, take YOUR savings and use it for something both of you would like to do...buy an RV to travel, travel abroad, build a vacation house, whatever. My advice, though, you have quite a few productive years left to pad the nesteg. However, if you're just totally well off....forget me!!
Feb 3, 2015 08:31:21 #
I retired at 52. After six months I took a part-time (32 hours a week) position at a state university and shortly after became full time. Seven years later I retired again, this time for good. I applied for Social Security at 63 and have enjoyed being full-time hobbyist :-) Occasionally I do some volunteer work. I must tell you: DO IT! And enjoy yourself. My neighbors like having me available for little daytime chores. I always enjoyed working, but I LOVE being retired. Good luck!
Feb 3, 2015 08:55:31 #
jim quist wrote:
Im seriously considering retiring in July, I will ... (show quote)
I wanted to retire at 58, but could not swing it, so I left the work force at 60. I prepared for it mentally by getting into digital photography and that hobby keeps me plenty occupied daily ;)
I get up early each day and look forward to each day.
Really enjoy retirement ;)
Week for me consists of 6 Saturdays and one Sunday ... so kool!
Feb 3, 2015 09:38:11 #
jim quist wrote:
Im seriously considering retiring in July, I will ... (show quote)
I retired at 50, found a part time job for 20 hrs per week and finally retired at 60. So far so good and never looked back. Essential to have a couple interests.
I share aviculture with my wife, diy ( never ending!), family history and when I have the time, photography. Not to mention doing jobs for the ' children '.
Winter months can be a bit Sad ( Seasonally Adjusted Depression ! ) so it's outdoors stuff during the summer and indoor bits during the winter.
Do not become ' time rich ' and do something, anything. Don't dwell on the past and don't think old otherwise one will become old.
Good luck and enjoy it !
Feb 3, 2015 11:23:41 #
jim quist wrote:
Im seriously considering retiring in July, I will ... (show quote)
If you can do it, as you outlined above, then by all means do it.
I retired in 2010 (NYC teacher) and it was the best thing I ever did.
I'm not as financially secure as you, but we're not hurting.
You're too young for Social Security, but the theory is hold out until you're at least minimum/maximum benefits. SS says for me maximum benefits was at 66 &1/2. You may have to wait a little longer. The "absolute maximum" benefit comes when you're 70 I think.
Now, for the second part of the theory. If you have longevity in your family; parents, grandparents living into their 80's and 90's, take SS when you reach your maximum (not 70, but 66 $ 1/2). You will collect more benefits over your remaining lifetime.
As to busy/not busy, as someone pointed out, I'm busier now than I was when I was working. Gotta have those hobbies.
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