contemplating retirement options - looking for input
- Thread starter TnT_M
- Start date
Super advise! Being a retired city planner I always suggest small college towns (not necessarily bigger universities) for consideration. They tend to be more vibrant, have better commercial/retail options, better medical/ health care facilities, arts and entertainment (live performances, music, sports, recreation, etc.)
This is because you want to work. There are so many other ways to socialize with people-even if you move away from friends. Not saying this is you...but so many guys think they are going to keel over the day stop working. It's a beyond dumb concept.
- Joined
- Sep 6, 2021
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T_M, IMO, ...you should NOT retire completely, rather start looking now for another career
field to get in to. One that you would actually enjoy. Retirement for men is much
different than that for women. I retired at age 64, and it was time at that particular
employer. I have been looking for something that I would enjoy and have real purpose
& satisfaction ever since.
I do not know if your wifey is requiring you to retire or if you just want something different.
Yes, DO talk with a trusted financial advisor \ planner to get some guidance. While you may have
a perceived sufficient amount of "retirement income", it just doesn't seem to be enough these days, plus you actually having something worthwhile to look forward to every day, is a mercy \ blessing from above. If you DO actually have enough guaranteed "retirement income", then look to volunteer somewhere every day. Our U.S. Armed Forces personnel ( Active, Reserve or Retired ) can
always use some assistance in a variety of ways.
field to get in to. One that you would actually enjoy. Retirement for men is much
different than that for women. I retired at age 64, and it was time at that particular
employer. I have been looking for something that I would enjoy and have real purpose
& satisfaction ever since.
I do not know if your wifey is requiring you to retire or if you just want something different.
Yes, DO talk with a trusted financial advisor \ planner to get some guidance. While you may have
a perceived sufficient amount of "retirement income", it just doesn't seem to be enough these days, plus you actually having something worthwhile to look forward to every day, is a mercy \ blessing from above. If you DO actually have enough guaranteed "retirement income", then look to volunteer somewhere every day. Our U.S. Armed Forces personnel ( Active, Reserve or Retired ) can
always use some assistance in a variety of ways.
Patman
Staff member
I know what you’re doing makes sense but I just hate the thought of owning money for anything! I’m debt free and I never want to borrow money for anything ever again. It helps me sleep better at night
I get that. I haven’t bought a car or anything else with borrowed $I know what you’re doing makes sense but I just hate the thought of owning money for anything! I’m debt free and I never want to borrow money for anything ever again. It helps me sleep better at night
Health insurance is the hurdle only reason I'm still working. I pay zero for excellent health insurance if I retire now about $1800 a month for same policy
My best years career-wise were after age 50. We could have afforded to retire at age 55 but I really enjoyed what I was doing, I was really good at what I was doing, I was working for and with people I liked, and I was being well compensated so I just kept going. I finally retired at 66 1/2 because I thought it was time and I wanted to retire on a high note.
I have to say the money really piled up after age 50.
Strangely enough I dreamed about being a GP again about twice a week for a year or more, and I hadn't been a GP for over 25 years.
The pandemic really messed up our travel plans but there wasn't much anyone could do about that.
I have to say the money really piled up after age 50.
Strangely enough I dreamed about being a GP again about twice a week for a year or more, and I hadn't been a GP for over 25 years.
The pandemic really messed up our travel plans but there wasn't much anyone could do about that.
My best years ever are after retirement. Period.
Having a paid off house gives you a real sense of security. If the whole world crashes around you, you have a paid off house.
@TnT_M
I retired at 51 yrs old in 2008.
paid for my health insurance until I turned 65 then medicare kicked in. My premium wasn't deductible in my case. It's just a cost of being alive in amerca (if you can afford it) . I was always healthy thus never got a return from all that health insurance cost.
No regrets. You can't get back time.
I have a lot of hobbies and didn't want to wait to retire until I was too old to enjoy them.
Yes, we've been dept free since about 2010
I retired at 51 yrs old in 2008.
paid for my health insurance until I turned 65 then medicare kicked in. My premium wasn't deductible in my case. It's just a cost of being alive in amerca (if you can afford it) . I was always healthy thus never got a return from all that health insurance cost.
No regrets. You can't get back time.
I have a lot of hobbies and didn't want to wait to retire until I was too old to enjoy them.
Yes, we've been dept free since about 2010
Not retired but starting to think about it. Some random thoughts.
1) Health insurance is very expensive when you pay for it yourself (I have). It also doesn't cover anything when you pay yourself. Think $5000 deductible and then 30% until you hit your max out of pocket. Its been going up rapidly as well. This is by far the biggest thing you need to figure out I believe.
2) having lived in a couple places lots of people want to retire - your not going to figure out if you like on a 2 week visit. Rent for 6 months. Minimum.
3) If your thinking your going to work a little to supplement - good idea if you need a hobby. But your going to be making a tiny fraction of what you will make full time. An extra month of your real job will probably be 6 months of whatever you were going to do in retirement (or more). I suggest working till you have enough. You might be forced back into work at some point anyway - many have been.
4) More of a flyer - but the demographics are such that unless we let a whole lot of older immigrants into the country soon, there will not be enough retirees to fill homes in all these retirement places. I would think very, very hard before I bought a place in retirement central if your home value matters to you.
1) Health insurance is very expensive when you pay for it yourself (I have). It also doesn't cover anything when you pay yourself. Think $5000 deductible and then 30% until you hit your max out of pocket. Its been going up rapidly as well. This is by far the biggest thing you need to figure out I believe.
2) having lived in a couple places lots of people want to retire - your not going to figure out if you like on a 2 week visit. Rent for 6 months. Minimum.
3) If your thinking your going to work a little to supplement - good idea if you need a hobby. But your going to be making a tiny fraction of what you will make full time. An extra month of your real job will probably be 6 months of whatever you were going to do in retirement (or more). I suggest working till you have enough. You might be forced back into work at some point anyway - many have been.
4) More of a flyer - but the demographics are such that unless we let a whole lot of older immigrants into the country soon, there will not be enough retirees to fill homes in all these retirement places. I would think very, very hard before I bought a place in retirement central if your home value matters to you.
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Meh. I am not worried about such a scenario. I sleep better with money working for me not tied up in a house.
I have never understood this either. I have a note sitting at Chase / Fannie / whomever. I have more than that amount of money sitting at Chase / Fidelity / wherever. Whats the difference vs paid off?
I retired at 55. But yea-I spent tens of thousands of dollars on healthcare Insurance prior to going on Medicare. Best decision I ever made to retire early.
Even if you own the house and property outright, try skipping the property taxes.
I still drive new cars in retirement. I can afford the car payments. The wife and I only borrow money we don't need. I'd rather have the money working for me than paying off the vehicles. BUT-the point being is they can be paid off a any time.
I semi retired at 50. Like you, we wanted to retire to a LCOL area, so while doing remote work we relocated to TN about 4 years ago.
Healthcare was the biggest hurdle, especially with the changes to ACA plans for 2026. Enrollment requires threading a needle to not go over 400% poverty level while managing income to get some subsidies.
The second hurdle, for me, was identity. With almost 30 years in high tech, finding your true passions and investing in new relationships can be difficult.
Take your time...don't get stuck in the one more year loop. Despite the hurdles, early retirement is one of the best decisions you can make.
Healthcare was the biggest hurdle, especially with the changes to ACA plans for 2026. Enrollment requires threading a needle to not go over 400% poverty level while managing income to get some subsidies.
The second hurdle, for me, was identity. With almost 30 years in high tech, finding your true passions and investing in new relationships can be difficult.
Take your time...don't get stuck in the one more year loop. Despite the hurdles, early retirement is one of the best decisions you can make.
