When to stop working and retire?
- Thread starter Donald
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manicrodder
$50 site donor 2022
I am 67 also and I retired last March. The day after Labor Day I went to work for the city because retirement wasn't for me. I like what I do and colleagues say I do it well.
There's a lot to be said for experience.
I guess when I fully retire it will be when I can't answer the morning alarm.
If you have to ask other people when to retire then you're not ready. That question should have been asked long time ago.
When I was about 30 I asked myself this question. And my answer was that I'll be done sucking up to corporate before age 60 and I've done exactly that and never looked back.
When I was about 30 I asked myself this question. And my answer was that I'll be done sucking up to corporate before age 60 and I've done exactly that and never looked back.
One of my colleagues explained it this way. Through your working years you put your retirement money in one bucket and all the B.S. you had to endure to get the money in another bucket. When either bucket gets full you wish them well and head out the door.
Health issues can help a person make that decision. How long do I expect to stay healthy enough to be active and truly enjoy retirement?
ain't that the truth, did 26 yrs at my last job and heard this everyday "When you gonna retire" as soon as I turned 66 I had my walking papers in hand.
When my pension benefits means I can retire with plenty of pension money to live comfortably, with my 401(k) as gravy on top
I knew a guy who didn't want to retire because all the people he knew who retired dropped dead a few years later. I always told him that it wasn't related. He finally retired when the regulations got to be too much for him to keep up with based on his low volume of business. He basically just slowed down and didn't do as much work before he retired.
My plan was to retire before anyone at work thought I should. I did that. Retired at 66 1/2 and had just lead my department to 10 consecutive years of meeting or exceeding all annual objectives.
I've found I need far less income in retirement than I expected. When my mother was in her early 90s she said with some pride that she put a little money aside every month. We're not trying to do that but we are too.
And my health isn't as good as I thought. Yours might not be either. We know a lot of people and we're at the age where many of our friends are developing serious health problems (cancer, heart problems, strokes, etc) and several have died. Gives you pause for thought.
I've found I need far less income in retirement than I expected. When my mother was in her early 90s she said with some pride that she put a little money aside every month. We're not trying to do that but we are too.
And my health isn't as good as I thought. Yours might not be either. We know a lot of people and we're at the age where many of our friends are developing serious health problems (cancer, heart problems, strokes, etc) and several have died. Gives you pause for thought.
What's so great about living to 85?
Not exactly going to be your best years.
I'm not retired but quit working nine years ago. Long way away from collecting SS, my pension or tax advantageous withdrawals from my IRA.
Don't want to be that guy that retired and dropped dead. Happens.
Don't want to be that guy that retired and dropped dead. Happens.
We're ready now (40), but unfortunately won't have the money, so we have to wait. Ages 50/51 is the long end. Hope to pull the plug before then or move to part time (80%?, 3-4 day work weeks sounds right) work from 45-50ish, maybe.
We'll see how it all plays out, though.
We'll see how it all plays out, though.
Would love to today. Used to really love what I do, but it's become something of a drag, something I can't always turn on and get into. WFH would be so much better if I didn't have to deal with the "W" part...
Have hopes that I'll be able to when I'm 60, if I had to, but likely will push through my 60's so as to know I'll be ok. It's office work, so not strenuous, just most likely to drop dead while sitting.
Biggest issue is getting the house paid off, only 28 more years there... ugh.
Have hopes that I'll be able to when I'm 60, if I had to, but likely will push through my 60's so as to know I'll be ok. It's office work, so not strenuous, just most likely to drop dead while sitting.
Biggest issue is getting the house paid off, only 28 more years there... ugh.
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If you're financially comfortable to retire, go for it! But....you've got a pretty sweet deal. Working in your sweats, money coming in, hotel benefits, insurance, etc. I'd say if you were slugging back and forth to a job you hate, retire. I'd have a hard time giving up what you have.
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Generally it's better than the alternative.
But not always.
My Dad is 83 and he looks and feels great.
I fully expect to live to 90+ and to have a great time doing so.
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I guess I've got bad genes. Hardly anyone in my family that lived past 80 had a very good quality of life. My mom is the exception, who is still getting around great at 83. But she's at the doctor's office twice a week.
The main reason, IMO, to retire now is if you want to travel or vacation in many places. Health, unfortunately, is not guaranteed. You could live to be 90 but with immobility not really do what you want compared to being healthy and doing it now. There are too many stories of people waiting to retire only to be hit with an accident or unforeseen illness that basically stops their retirement plans quickly. If you can afford to retire do so ASAP, let someone else have the job and enjoy the rest of your life!!!
Spector, my "doctor told me" that he has had numerous men retire that went downhill quickly and died soon after. Downhill because they had difficulty adjusting to all the changes of retirement and they could not cope mentally. It is hard to believe, but some men have trouble adjusting to not having the daily work routine and purpose they have followed all of their life. It's not necessarily that they were married to their job, its that they don't have the capacity to survive without the regimen. Men with terrible jobs cannot imagine this.
I've also heard of men getting terribly bored in retirement and sometimes the wife gets a job because she can't stand to be around hubby 24/7.
There are many different scenarios. My idea is to choose want YOU want. Do it. And have no regrets no matter what happens. We cannot predict the future and there are no guarantees about anything. Life is often unfair.
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