Why did you decide to retire when you did?

[NSnJW]

The chemicals at my job either caused my asthma or just made it worse. After getting pneumonia 4 times in 3 years, the wife and I decided to retire at 63.

I am so glad I did. Less than 4 years after I retired, I lost my wife of over 46 years. I am so grateful for the time we had together, just the two of us. If I had waited for retirement age, I would have missed so much.

There are no guarantees in life. Enjoy what you are able to do while you can.

[dverzic]

^^^ That is the reason I retired at 53. I saw too many others retire and not have enough time with their spouse. Since I was able to afford it, I decided life with my family was way more important than work. I now work part time and make my own schedule. Best decision of my life!

 

 

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[Go-Bucks!]

The chemicals at my job either caused my asthma or just made it worse. After getting pneumonia 4 times in 3 years, the wife and I decided to retire at 63.

I am so glad I did. Less than 4 years after I retired, I lost my wife of over 46 years. I am so grateful for the time we had together, just the two of us. If I had waited for retirement age, I would have missed so much.

There are no guarantees in life. Enjoy what you are able to do while you can.

I'm so sorry for the loss of your wife, but glad you both got those years together without having to work. It's so true that we never know what the future holds (although I'm glad I know who holds the future) and time with family is so very important as we get older.

 

Unfortunately I'm single and will only have my own small savings to live on so I haven't been able to retire yet. I need to get to my full retirement age (66) so I can get my SS based on my ex-hubby's income, then at 70 I'll be able to get my maximum SS. I'm just a middle class worker, not making a very big salary. I have 10 months left to work, but am still nervous about whether I'll have enough to live on after I retire.

[AF-1]

Im still working but the City is on Probation... Im a Fire Captain and although I'm in great shape at 60 it is a young man's game, I was going to leave in April 18... then July 18, now April of 19 with the DW as she will be eligible then... We will retire from City of Las Vegas on 4/4/19 and Leave on the NCL Jade southern Caribbean 10 day in a Suite on 4/12/19...

 

Love your retirement plan and the Jade is a nice ship. I sailed on her for my wife's retirement cruise back in 2015. She went under a complete overhall and looks so nice now.

[NSnJW]

I have 10 months left to work, but am still nervous about whether I'll have enough to live on after I retire.

You may find you can live on less in retirement. Food can be cheaper because you have time to fix from scratch. You don't need as many clothes. You can consolidate shopping trips because you don't have a schedule.

I hope for the best for you and wish you a happy retirement.

[SargassoPirate]

When considering retirement, remember two things:

 

1) When they get to the end, nobody ever says "Gee, I wish I had spent more time at the office"

 

2) Ever notice you never see a hearse followed by a U-Haul truck or an armoured car?

[new_cruiser]

You may find you can live on less in retirement. Food can be cheaper because you have time to fix from scratch. You don't need as many clothes. You can consolidate shopping trips because you don't have a schedule.

I hope for the best for you and wish you a happy retirement.

 

On the other hand, Medical care costs are likely to go up. You will have time for hobbies and some of those may cost money to participate in. That includes having time to travel.

 

I'm on the verge of retirement (3 weeks to go) and really not sure if our total expenses will go up or down.

[wishIweretravelling]

After I retired, I moved to an area where real estate prices were considerably lower than where I'd lived while working. It enabled me to buy a house outright, and thus eliminate the mortgage and condo fee. That, in itself, lowered my cost of living substantially.

 

But, if you aren't in that boat, here are the expenses I've found to have gone down since retirement:

-Food. I now have time to cook, so don't eat out nearly as much, and don't buy many packaged foods.

-Clothing. I don't need work clothes any more, so haven't bought much more than socks and new sneakers since I retired.

-Mass transit, taxis and ubers. I can drive and park most places now, so don't need this kind of transit.

-Gym membership. Like real estate, it's a lot cheaper where I've moved to.

-Taxes. You make less, you pay less.

 

Other expenses have gone up:

-Travel. More time to travel, so I travel more.

-Utilities. I'm home during the day, so keep the heat and a/c going during the day.

-Health insurance. I retired early, and so have to buy my own insurance until I qualify for Medicare. It doesn't cost much more than what my employer and I together paid before, but now I don't have that employer contribution.

-Coffee and toilet paper. Most of my usage during the week used to be at the office:):)

-Gasoline. I expect that, for most people, this is in the "expense gone down" category. But, for me, I used to walk to work (and to most everywhere else). Now I live in a place where I have to drive almost everywhere.

 

Not everyone's experience will be the same. But these are the things that have changed in my budget.

[fyree39]

After I retired, I moved to an area where real estate prices were considerably lower than where I'd lived while working. It enabled me to buy a house outright, and thus eliminate the mortgage and condo fee. That, in itself, lowered my cost of living substantially.

 

But, if you aren't in that boat, here are the expenses I've found to have gone down since retirement:

-Food. I now have time to cook, so don't eat out nearly as much, and don't buy many packaged foods.

-Clothing. I don't need work clothes any more, so haven't bought much more than socks and new sneakers since I retired.

-Mass transit, taxis and ubers. I can drive and park most places now, so don't need this kind of transit.

-Gym membership. Like real estate, it's a lot cheaper where I've moved to.

-Taxes. You make less, you pay less.

 

Other expenses have gone up:

-Travel. More time to travel, so I travel more.

-Utilities. I'm home during the day, so keep the heat and a/c going during the day.

-Health insurance. I retired early, and so have to buy my own insurance until I qualify for Medicare. It doesn't cost much more than what my employer and I together paid before, but now I don't have that employer contribution.

-Coffee and toilet paper. Most of my usage during the week used to be at the office:):)

-Gasoline. I expect that, for most people, this is in the "expense gone down" category. But, for me, I used to walk to work (and to most everywhere else). Now I live in a place where I have to drive almost everywhere.

 

Not everyone's experience will be the same. But these are the things that have changed in my budget.

 

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

[SmoothFlying]

I have the option to retire in April. However, were I to do so, I'd make about 20% less per month. Part of me says it's more important to enjoy my retirement for as long as I can rather than get more money. In either case, I'll be earning enough to live on.

 

What made you decide it was time?

 

Well, two things. 1) My company, which I dearly loved came up w/ an retirement option in 2013 that included a $75,000 medical plan, which could be used for any medical situation. 2) A year's salary. At the time I was only a year away from doing my 'BIG 30' and was afraid IF I waited another year they wouldn't offer a retirement plan sooo the wife said, 'You're 64, no guarantees that you'd make it till 70 so 'GO for it !!' And so I did. I MISS my job because my company was very employee caring, always put us FIRST. But when all is said and done, I have enjoyed being retired. Especially when it's either COLD and rainy, or both.Since my job (the last twenty years) was mostly outside it could be a challenge sometimes.:D

 

Mac

[read52]

I was planning to retire after one more school year because I would be 67. But after talking with my principal I may stay longer. Just taking it year by year.

[annawanX2]

I'm basically a lazy person !! I loved my job and the people I worked for as much as I could love working. I always said that I would retire at 62. But I waited until I was 63 and had my car paid for. I am so lucky that a great friend lets me live in an apartment over her business free of charge. I just pay the utilities. The only rule is that I used the money I'm saving to go on cruises and trips with her. Such a hard sacrifice (not) !!! I also write blogs for the company I retired from and am looking for more companies to write for.. Money is tight, but worth it. I'm a homebody when I'm not traveling. I consider myself so blessed !!!

[ETxRebelRose24969]

My husband retired in 2016 as a CO5 Corrections Officer after 20 years of service. We both decided it was time for him to lay it down after that many years. It was the best decision he made. Now, we cruise.

[baldilocks]

I retired in 1997 at age 51 after 31 years 2 months and 28 days (who counts?) from a large company. They were changing the way retirement was to be valued. They offered anyone who wanted to retire the 'last gold watch' type pension with all the benefits. They also based your pension on the last 3 year average of salary rather a 10 year average. I was promoted and got good raise during those last three years. The new pension calculation increased my pension by a whopping 90%. Good-bye!

 

I spent the next 11 years as a contract ISO 9001 quality auditor and substitute teacher. I loved the auditing job and even got letters of commendation from several clients about the way I handled their audit. The teaching jobs ended in 2006 because there was just too much administration back biting and a complete lack of discipline in some schools. :mad:

 

I'm happy to say that I have collected over $500K so far in my pension payments. It is nice to travel now with the wife to places we never thought we would visit. Just remember...ADVENTURE BEFORE DEMENTIA ! :):):)

[coppermouse]

I have the option to retire in April. However, were I to do so, I'd make about 20% less per month. Part of me says it's more important to enjoy my retirement for as long as I can rather than get more money. In either case, I'll be earning enough to live on.

 

What made you decide it was time?

 

I agree. Life is to short to kill yourself over a job. Many of my co workers died within a year after they retired. I could of stayed 3-4 more years. I retired early. I want to enjoy myself.

[WAMarathoner]

Have something you run to not run from.

That's very wise.

 

We have three years to go before retirement. Had to get all the kids through college first, and still paying off dd's wedding from a few years back :eek:. Then dh will be able to concentrate on his music full time (his passion), and I'll probably go back to writing. We're looking at retirement as time to do all those things that we couldn't afford when the kids were home.

[Riverviewnb]

I have about 9 months to retirement, I will have close to 34 years with the federal government here in Canada., Based on my service I will get 68% of my salary and keep health, dental and vision benefits although there will be a marginal increase in the cost. My pension will be indexed to the consumer inflation index so I cant see the benefit of working past this as my pension maxs out at 35 years. Its bit scary but I am going to go. One benefit here in Canada is that when I retire I can split my pension with my wife to lower my gas rate.

[new_cruiser]

Two weeks left. I started feeling it was time to retire early last year. I've enjoyed my job for many years, but fairly suddenly I found I was tired of business trips and the bureaucratic parts of my job even though I still like the technical parts. I considered retiring last August because I could go directly on to Medicare. We even scheduled an Alaska cruise with friends to celebrate retiring. But annual bonus is paid in December and, if I stayed on until this month, deferred compensation would vest. It was a large incentive to stay on for 7 more months so I did.

 

I just finished my last business trip and said goodbye to many friends.

 

Now I'm dithering a bit about whether to do some consulting after I retire. I'm looking forward to not working full time but finding it kind of hard to let go too. I've got a 27-day cruise in May and told those asking about consulting that I would wait until I'd had time to decompress and take the cruise before deciding whether I was interested.

[Hellbee]

Two weeks left. I started feeling it was time to retire early last year. I've enjoyed my job for many years, but fairly suddenly I found I was tired of business trips and the bureaucratic parts of my job even though I still like the technical parts. I considered retiring last August because I could go directly on to Medicare. We even scheduled an Alaska cruise with friends to celebrate retiring. But annual bonus is paid in December and, if I stayed on until this month, deferred compensation would vest. It was a large incentive to stay on for 7 more months so I did.

 

I just finished my last business trip and said goodbye to many friends.

 

Now I'm dithering a bit about whether to do some consulting after I retire. I'm looking forward to not working full time but finding it kind of hard to let go too. I've got a 27-day cruise in May and told those asking about consulting that I would wait until I'd had time to decompress and take the cruise before deciding whether I was interested.

 

 

 

 

I’ve been at my job for 33 years. One of the reasons I’m still working at 68 is because I haven’t figured out what I want to do when I retire. I’ve been an active volunteer in a non-profit for 25 years so I know that will keep me busy. But somehow that’s not enough. I think if you enjoyed your job being a consultant is the best of both worlds. You get to work when you want & travel when you want. Go for it! What have you got to loose?

[wishIweretravelling]

It's also important to leave yourself open to new possibilities. My father had a couple of things planned for his retirement, and indeed did dabble with them upon retiring. But then something he'd never considered came up, and he embraced it. He'd had a successful career before retiring, but he considered his post-retirement activity the best "job" he ever had.

 

Now that I'm in the same position, I find I am pursuing many of the things I thought I would. But I'm only a couple of years in. We will see if things shift.

[Sologuyonboat]

I worked 4o years as a nurse and one day I just had it .It had been building up so I retired at 60 and never looked back.[/quo

 

I know the feeling ! Spent 32 years as a First Responder. Missed so many Holidays, Birthday parties etc because I was always on duty.

Enjoy your " you " time now .

[bettty45]

I worked 4o years as a nurse and one day I just had it .It had been building up so I retired at 60 and never looked back.[/quo

 

 

 

I know the feeling ! Spent 32 years as a First Responder. Missed so many Holidays, Birthday parties etc because I was always on duty.

 

Enjoy your " you " time now .

 

 

 

Thank you for caring for so many people. Now time to care about YOU!!

 

 

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[mightytraveler]

Retired a bit over a year ago. Ran my husband's medical practice for many years until we sold it. Stayed on with new owner for one year. Never really considered what I would do in retirement but loved it from day 1. Freedom and flexibility are such a pleasure after of lifetime of responsibilities and schedules. I found artistic pursuits to my liking. Totally unplanned but thoroughly enjoying. It's a great life!

[iancal]

A lesson for the one more year folks. Our travel friends in the UK retireed six years ago. Like us, they have been travelling very often. We do about 4-5 months a year plus some short trips. They do 8-9 months with winters in New Zealand.

 

They were supposed to board a cruise in Brisbane last weekend. He came out of the shower-the day they were to board the ship. His skin had turned yellow. DW make him go to the hospital. Upshot...blocked bile duct. Missed the cruise. They also found inoperable liver and pancreatic cancer. Sad. But at least he was able to realize some of his retirement travel dreams.

 

It is one of the reasons we pulled the pin early and have been busy with our travel bucket list. Who knows what tomorrow will bring.

[AF-1]

A lesson for the one more year folks. Our travel friends in the UK retireed six years ago. Like us, they have been travelling very often. We do about 4-5 months a year plus some short trips. They do 8-9 months with winters in New Zealand.

 

They were supposed to board a cruise in Brisbane last weekend. He came out of the shower-the day they were to board the ship. His skin had turned yellow. DW make him go to the hospital. Upshot...blocked bile duct. Missed the cruise. They also found inoperable liver and pancreatic cancer. Sad. But at least he was able to realize some of his retirement travel dreams.

 

It is one of the reasons we pulled the pin early and have been busy with our travel bucket list. Who knows what tomorrow will bring.

 

I feel the same way. I have some friends who waited too long to retire and now their health is deteriorating. I retire in July