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fyree39

Why did you decide to retire when you did?

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On 1/1/2018 at 6:40 PM, fyree39 said:

When I'm eligible to retire, that will be 5 years before my husband. I feel guilty that I can retire that much earlier than him. Also, my company gave me a promotion and a substantial raise 3 months ago. I'd also feel guilty leaving so soon after the promotion, as if I'm not grateful for it.

 

But, to retire...oh, the thought of it!

Just because you’re eligible to retire doesn’t mean you have to! If you enjoy what you do, why retire? Why feel guilty retiring while your husband still has to work? Work that extra 5 years and save that extra income. Then, when your husband is ready to retire you’ll have plenty put away to sail to your hearts content.

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There is a trade off that one must make between the finite number of good health years remaining and the financials of retirement or early retirement.

 

You cannot buy time or good health.  We made right decision for us.  Everyone has a different  decision matrix from which to arrive at their numbers.

 

We had no desire to be the wealthiest people in the retirement home.  Nor did we want to look back and have an abundance of ‘wish we had done that or travelled there’ regrets.

Edited by iancal

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4 minutes ago, iancal said:

 

 

There is a trade off that one must make between the finite number of good health years remaining and the financials of retirement or early retirement.

 

You cannot buy time or good health.  We made right decision for us.  Everyone has a different  decision matrix from which to arrive at their numbers.

 

We had no desire to be the wealthiest people in the retirement home.  Nor did we want to look back and have an abundance of ‘wish we had done that or travelled there’ regrets.

Hubby and I are sitting together on our trip celebrating his retirement at age 55. He said, "It's almost as if YOU wrote that."

 

I must agree.

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I went at 58.  Now 68.  Looking back......I should have, and was financially able, to retire at 55.

 

We cannot get those three years back but we are trying to make up for lost time.  We are on a seven  week trip to The Ionian Islands in Greece and to Cyprus.

 

 Sitting on the balcony of our oceanside condo on Zakynthos feeling very thankful that we have the health and the desire to travel independently.   Trying to decide where to spend the winter...Thailand/Vietnam or Mexico/Costa Rica/Panama!

 

 

 

 

Edited by iancal

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4 minutes ago, iancal said:

I went at 58.  Now 68.  Looking back......I should have, and was financially able, to retire at 55.

 

We cannot get those three years back but we are trying to make up for lost time.

Yes. But you're right, everyone has a different matrix. No one decision is right for everyone. 

 

We made a conscious decision in our mid-twenties to live below our means, max out our deferred compensation, and invest as much as we could so we could retire young and be comfortable doing so. So far (seven days in to retirement, and 12 hours until our next cruise) it has worked out well. But it could have been a very different story. The cancer I had at 32 could have killed me. We (or he) might have regretted not spending money on travel or other things when we were younger. 

 

Everyone must do what's right for them.

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One significant change in retirement for us has been the focus on experiences rather than things.  Best thing we did was to downsize, get rid if the clutter, and move to a lock and leave lifestyle.

 

 Second best was making the decision to travel for a few months at a time with only carry on bags.

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7 hours ago, MamaFej said:

Yes. But you're right, everyone has a different matrix. No one decision is right for everyone. 

 

We made a conscious decision in our mid-twenties to live below our means, max out our deferred compensation, and invest as much as we could so we could retire young and be comfortable doing so. So far (seven days in to retirement, and 12 hours until our next cruise) it has worked out well. But it could have been a very different story. The cancer I had at 32 could have killed me. We (or he) might have regretted not spending money on travel or other things when we were younger. 

 

Everyone must do what's right for them.

Most of these posts are from couples.  Faving retirement as a single is very different for those of us who are single. It's very different financially, socially, etc. For example, cruising as a solo not only means double the cost, but no companion to share the experience with. Unless you have friends who are also financially able & want to travel, each cruise becomes a "will there be friendly folks or will I spend more timex alone than I barhained for?" Doesn't mean us solo folk don't retire, but it does mean the thought process, the decision, is different.

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1 hour ago, Hellbee said:

Most of these posts are from couples.  Faving retirement as a single is very different for those of us who are single. It's very different financially, socially, etc. For example, cruising as a solo not only means double the cost, but no companion to share the experience with. Unless you have friends who are also financially able & want to travel, each cruise becomes a "will there be friendly folks or will I spend more timex alone than I barhained for?" Doesn't mean us solo folk don't retire, but it does mean the thought process, the decision, is different.

We’ve said to each other, “I want you to keep traveling without me if I die.” We’ve also said, “I don’t know if I’d want to.” 

 

On our last couple of trips, we have met some truly wonderful, fun, interesting single travelers (and one absolute snob). The wonderful ones convinced us, without even trying, that each of us could probably still travel alone.

 

We admire folks like you who do it! 

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Every time I come back to this thread I want to retire even sooner and there is a good chance I will and get myself out of thisduldrum. March 31st is not that far off but Dec 31st is much closer!

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35 minutes ago, Lois R said:

Every time I come back to this thread I want to retire even sooner and there is a good chance I will and get myself out of thisduldrum. March 31st is not that far off but Dec 31st is much closer!

Look at your numbers carefully. Hubby's official target date was in 2020. However, by retiring in 2019, he's eligible for the retirement system's annual year-end COLA. That will actually put us ahead by January, as the working contract is so poor (up just 1.6% since 2016). 

 

Also, we learned it was wise (in our case) to retire at the beginning of a month, not the end, so the employer paid the full month's dental and vision benefits (Hubby's in  the last hiring group to still have lifetime medical benefits). 

 

We spent a LOT of time with self-created spreadsheets, pros and cons lists, and the retirement system's website. Not all factors are financial. Many are intangible. Only you can decide what is right for you. Best of luck!

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4 hours ago, Hellbee said:

 Faving retirement as a single is very different for those of us who are single. It's very different financially, socially, etc. For example, cruising as a solo not only means double the cost, but no companion to share the experience with.

This is so true, especially the last sentence. Even though I was married during my last twenty years with my employer and had six weeks vacation my wife only had two weeks. I could and if I worked it out right did take advantage of my free flight benefits too do a lot of traveling for the remaining four weeks. But after 10-12 years I grew tired of just doing solo trips. The solo trip, that broke the camel's back, so to speak, was my week to Las Vegas (HER 'second love') after wandering around, visiting all of our favorite spots during the day and night I swore I'd never take another trip solo. Its extremely depressing to see something so beautiful, like the Irish countryside or London, and not have that 'special' someone there too share the beauty with. Of course, this is just MHO.

 

Mac 

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26 minutes ago, SmoothFlying said:

This is so true, especially the last sentence. Even though I was married during my last twenty years with my employer and had six weeks vacation my wife only had two weeks. I could and if I worked it out right did take advantage of my free flight benefits too do a lot of traveling for the remaining four weeks. But after 10-12 years I grew tired of just doing solo trips. The solo trip, that broke the camel's back, so to speak, was my week to Las Vegas (HER 'second love') after wandering around, visiting all of our favorite spots during the day and night I swore I'd never take another trip solo. Its extremely depressing to see something so beautiful, like the Irish countryside or London, and not have that 'special' someone there too share the beauty with. Of course, this is just MHO.

 

Mac 

I hear you loud I clear.  I think that's one reason cruising works fairly well for solo travelers, especially cruises with LOTS of sea days.  If you're lucky enough to find one or 2 people to dine with, have a drink with, then you don't feel quite so alone.  Your part of the community of the ship. I even go onto CruiseCritic role calls & try to organize a table in the main dining room for SOLO travelers.

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I am about to experience solo travel.  Plus experience my first group travel. India.

 

There are a few places on my bucket list that DW has no interest in so I will go it alone for a few weeks but with an organized group.  After that we could meet up for a cruise.  Still planning,

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If a person is used to traveling solo then the experience is not as sad as some of you think it is...…..I have lived almost my entire life as a solo......single, then married for a very short time and since 1985,

(yes, for the past 34 years) been divorced and seeing sights, traveling and cruising on my own.

I choose to just look forward since there has never been anyone with me to begin with.

 

Leaving for my next cruise a week from today:classic_biggrin:

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I am not in the least bit concerned about travelling solo.  It seems reasonable to me that I will be paying more because whether single or double the hotel room will probably be the same.

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21 hours ago, Hellbee said:

I even go onto CruiseCritic role calls & try to organize a table in the main dining room for SOLO travelers.

That is SO wonderful of you !! I'd never thought about trying to find either a group OR another person for a traveling partner.😉

 

Mac

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4 hours ago, SmoothFlying said:

That is SO wonderful of you !! I'd never thought about trying to find either a group OR another person for a traveling partner.😉

 

Mac

 

4 hours ago, SmoothFlying said:

That is SO wonderful of you !! I'd never thought about trying to find either a group OR another person for a traveling partner.😉

 

Mac

There are solo travel companies that you can travel with, solo doesn’t mean single just traveling alone.

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I had been contemplating retirement since 2010.  I've seen my parents and others their age (75) starting to show health problems and also slowing down a bit.  For the folks lucky enough to make it to 80, travel was becoming difficult.  Our parents, now at 84, they no longer drive (or should drive), and faculties are slowing.  

Where I'm going with this is that starting in 2010, I realized that I may only have 20 good years left for travel, health, and ability if I retired by age 60.  Perhaps I could get 30 years, but not likely with my family lineage.  After doing the math, I determined I could, and did, retire at age 59.  As IanCal stated:  

 

On 10/2/2019 at 11:40 PM, iancal said:

You cannot buy time or good health.  

 

We had no desire to be the wealthiest people in the retirement home.  Nor did we want to look back and have an abundance of ‘wish we had done that or travelled there’ regrets.

 

   

I'm just glad we were able to afford to retire early.  With that said, we booked a 10-day cruise and a 16-day cruise for 2020.

 

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I had a job where I once would be looking forward to retirement and it indeed was decision about finance and time to do things that were important.      A blessing of sorts they forced my hand early, and I now have a job that allows me to pretty much both work for rewarding reasons and do everything else, call it retired and working.    Of course could always think I wanted more free time for vacations, but a vacations that isn't balanced by some work and required commitment ceases to be a vacation.    

 

So I will keep working at this one till I can't physically or mentally add value, and also do all the other fun and important things. 

 

But if I had my crazy old life grind, it would have been right about now I'd be retiring, can't imagine how bored I'd have been being retired all the time instead of just some of the time.

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On 3/16/2018 at 5:08 PM, fyree39 said:

 

Has anyone mentioned retirees don't pay into a retirement account. That in itself is quite a bit of my current income.

 

I am looking at retiring in about 2 years, maybe a bit less.

 

I took my current salary, subtracted my retirement payments, my TSP (Fed version of 401K), Social Security, and a couple of other deductions that will no longer apply.  I considered this my current real income.

 

If things go right, I will retire at the same real income as I make now.

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Well, it is done----I was on cruise last week and had a large moment of clarity and when I went into the office today,

I had a meeting with my boss and I am leaving at the end of the year.:classic_smile:

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15 minutes ago, NSnJW said:

Congratulations, I hope it is everything you wish for.

 

Thank you:classic_smile:

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3 hours ago, Lois R said:

Well, it is done----I was on cruise last week and had a large moment of clarity and when I went into the office today,

I had a meeting with my boss and I am leaving at the end of the year.:classic_smile:

 

Congratulations Lois! You did it👏. I bet you are feeling relieved. Just think of all the travel opportunities you will be able to take advantage of! 

Sharon

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Hi Sharon, good morning and thank you:classic_smile: yes, I am probably not fully comprehending it all yet but it is definitely a good thing.   I am leaving at the end of the year.  So basically, 2 months left.....I have a TA crossing booked for April (my FIRST TA CROSSING!) but I will book something for January:classic_smile: and

when I come back from that one? It will probably seem more real because I won't have to go to work LOL

 

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