I think I've made my retirement decision....

[imnukensc]

As a near 71 year old who retired nearly 11 years ago, I'll just say this is the best thread/topic I've ever seen on OTT.

 

[Razorback007]

Every night is Friday night, and the next day is always Saturday….
I’m busier now than ever before retiring, no more time slicing to try and getting
projects done, raising the kids, and burning the midnight oil before going to work 40-64 hours a week.

 

[SAR Tracker]

Retired in 2011 at age 56. 30 year pension from the Feds (Civilian DOD engineer). Best advise I ever received was to "start living on your projected income to see how it feels." We did, and it felt good. Kept the house in SoCal and rented it out. Moved to Central Oregon and am having the time of our lives!

 

[jyoutz]

Do what works best for you and your family? And remember that circumstances change and are different for everyone and every family. For years, I planned to retire at year end 2023, and am financially ready. Wife and I had lots of hobby and travel plans and sons are grown and on their own. Then my world changed. My wife was diagnosed with a terminal disease and work is the only thing that keeps me sane and socialized. At this point in time, I have no retirement plans. Because of her condition we spend lots of time at home together and I need work to get out to see the world when I can. Fortunately I still enjoy my work. Future plans don’t extend beyond one month at a time.

 

[bird dogger]

I walked out the door of the shop at age 62 after 42 years at the same company. Had no plans in the making. Just walked out after giving notice. Was worried about what had just happened after the door closed behind me.....for about 5 minutes at most!!! That was 8 years ago now and I've never looked back or regretted that choice.

Never a dull moment around here. Always something on the docket to tackle next!! Or someone that can use some help for a cold beer or a hot meal!!

Congrats, RCW, on your wise choice!!! You won't regret your decision but for a minute or two at most! By the way, stop by for a cold one when you're in the area!!! You'll have time now!!!

 

[chim]

Gave a couple months notice and cut back to 3 day weeks before retiring at the end of September 2021 at the age of 72. It was a very good job, but I wanted to spend more time doing other things. In September 2020 we had become foster parents to a cute 10 month-old girl. Wifey and I are blessed with pretty good health, so we ended up adopting her. Finances are OK with no debt and we live within our means. Set funds aside for a new vehicle a few years ago but still haven't made a decision on what to get. The '08 Trailblazer has over 260,000 miles on it. Engine runs like new but the body is beginning to show some signs of age. One thing I know I'll miss when we do replace it is the sense of peace I now have when I park it in a narrow parking space Wifey's 22 year old Alero looks like new (always kept inside) and only has 60,000 miles on it.

 

[Poohbear]

My DW & I retired 8 yrs ago when we were both 67. This was actually my 2nd retirement . I guarantee a week after your retire your company won't remember you existed.
Those that can start a new adventure do it as early as possible. My Wife's health went to pure crap in the last few years. In Dec 2016 we hiked 7 mi & back in Hawaii to the volcano rim and today she can't get from one end of the house to the other without her cane , walker ,or mobility scooter depending on how she feels . Life can sure screw you sometimes.

 

[PHPaul]

Speaking of money...

My ability to retire comfortably at 62 was due almost entirely to dumb luck:

1. I retired from the Navy in 1990, so there's my military pension income to supplement Social Security, and

2. We've always lived pretty simply. Never eat out unless we're on a road trip, wife would rather shop for clothes at at thrift shop than a clothing store and never wears jewelry. We have no mortgage and no debt outside a car payment and we generally keep a vehicle until it won't pass inspection, then replace it with something at the lower end of the spectrum. We get by very nicely on mid-5 figures and even tuck a little in the "oh shit" fund every month.

 

[GeoHorn]

I’m with “outnumbered”….and so are virtually All my retired Friends….. FIRST THING THAT HITS YOU…is you don’l have to get up, get dressed and be somewhere if you DON’T WANT TO.

Second Thing: I don’t know HOW I HAD TIME to GO TO WORK! My days are FILLED with deferred house-maintenance, garage and workshop cleanup of all the Pack-Rat Stuff I’ve accumulated over a lifetime of working on stuff….. (I’ve found all sorts of things I have no idea what they are for or where they came from….but they are so Interesting…they simply Could Not be Thrown Away.

(I’ve created a special container for them labelled: “George’s Integrated Brain Reconstruction Parts” …hoping some day I’ll figure out what they are and what I’ll do with them.)

Our house and toys are all paid-for and our kids have all graduated and have good jobs and happy families. (Just wish the daughter in NYC had come back home after law school…but she’s got a great job and met the son-in-law we both couldn‘t be happier-with and they’ve presented me with a little grand-daughter for me to enjoy.

I realized that dumping some non-growing ”investments” someone talked me into decades ago…provided enough cash to buy a couple of nice recently-constructed homes in gated communities that are long-term-rented to industrious and responsible young families …and the income and tax benefits provide a trouble-free amount of addt’l cash which is more than I need. (I have them direct-deposit their rent into my bank acct…and contract with an excellent handy-man service…..greatly simplifying the landlord job.… I have virtually no managerial issues….going on now for almost ten years.)

Wife and I set a goal to travel…. Retirement is BUSY! I promise…You will wonder how you ever found time to Go-to-Work!


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Oh yeah…a Postscript: If you find…as I did….about two weeks after you quit…that the former employer asks if you’d come back for just a short-term contract of…say… a month… and then offers you Twice what they were paying you previously….. DON”T give them an immediate answer.
Tell them you’d like to sleep on it and will call them back tomorrow (or whenever).

THEN…. tell them you’ll do it… IF they pay all your expenses of hotel/meals/etc while doing this contract-work for them… at DOUBLE what they had offered previously.

(They didn’t blink and made me realize perhaps I hadn’t asked enough)

The deal is….they suddenly realized how deep the Sheit was for them….which YOU had prevented them from wallowing-in… and NOW they need a Fast Bail-Out before things REALLY get BAD!

(In my case…a multi-million-dollar client ..having learned I had retired… stipulated they’d only not sue for “breach of contract” if the company could get me to come back to complete their contract with the company. Turns out I was the only “approved” certificate-holder/instructor the previous-employer had on the clients operating certificate….

Wife and I spent a month in a luxury-suite and eating out at all the exclusive restaurants in the DFW area together.…and got a wind-fall cash-bonus in our retirement.

 

[johnjk]

Congrats RCW. I was there with my old company and got told I was being laid off early in November and my last day was Jan31. Round 1 with 50 other souls. Wasn’t ready to stop, got picked up a few days later by another company and went right to work. After the first week my BP was down and I was sleeping through the night. Haven’t done that in 4 years and always blamed my back. Seems it was my head for most of it. This time once the fun is gone, I’m done. My wife took the step last October when I was out for my back and loves it.

 

[Siesta Sundance]

Don't have a firm date, but it better be pretty soon....

I'm at the top-end of the management of the company.

Given my tenure, I'm always the "go-to" for any issues/problems/decisions, whether it relates to my responsibilities or not.

Getting old, as am I.....

Really it's been made for me for my own sanity/wellness:

1. Work 51 or 52 weeks/year - check - last day off July 2023 - been that way for 20+ years. If I were a Union position, I'd have 6 weeks off, plus sick leave.
2. Dislike going to work every day - check - See #1
3. Burned out - check - See #1, #2, and #5
4. 37 year tenure - check
5. Intolerance of inexperience/inept - check - See #4
6. Good Retirement - check - See #4 - about 70% of current salary. Less depending on spousal benefits after I'm gone.
7. Post-retirement Health Care cost - $0
8. Debt - $0
9. House projects done - check - bought & paid for
10. Some $$ in the bank - check - see #9 - not as much as I'd like, but would get us by a while without retirement income

#3 and #5 are really getting evident in my daily activities. I'm not a lot of fun to be around at times.

Not fair to my subordinates or my other co-workers.

I worked as a farm kid. I worked full time as a high school kid in the bar/restaurant business, often 60-100 hours a week. Violated the Hell of Labor Laws, but I needed the $$.

Same followed as a college kid. I had to pay the Fare...

I think KNOW it's time....

Do it! Enjoy Life, focus on family and health.

Congratulations!

 

[old and tired]

I'm on Month 11 in retirement, almost a year retired... Original plan was to work this whole year and retire about now but my ankles told me that I was done working..... The difference between my normal paycheck and retirement pay check was $4/hour. My first SS pay check comes in 2 weeks and we'll have more money than we'll know what to do... we paid cash for everything and it's not in our character to spend money foolishly**.

Still getting into the "swing" of retirement... I have not found my groove, yet. It's like the movie "Groundhog Day", I still get up at 6 or earlier. I do lots of landscape and jobs around my house but it's the same day over and over... Just have not found what it takes to get to the next "different" day... (as in the movie...)


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**Except for beer... not uncommon to pay $1.50 per ounce.

 

[lynnmor]

The difference between my normal paycheck and retirement pay check was $4/hour. My first SS pay check comes in 2 weeks and we'll have more money than we'll know what to do... we paid cash for everything and it's not in our character to spend money foolishly**.

Hopefully your retirement check has a cost of living adjustment. Mine stays the same and the current planned inflation has reduced my purchasing power by half.

 

[Lil Foot]

Congratulations!
I retired at 55, the wife 5 yrs later at 60.
I worked a 39 hr/week job from 14 thru 19, plus odd jobs, then 36yrs, 12 days at my career.
I had to get out, both for my soon-to-be-eliminated retirement and my sanity.
The unbelievable, gargantuan stupidity of the big company I worked for was going to put me in an early grave.
My wife found an honest genius financial advisor and we now have more income & reserve than we had while working.
If we had known, we would have both retired sooner.
My advice is:
Get out when you can, as soon as you can.

 

[bird dogger]

I guarantee a week after your retire your company won't remember you existed.

How true!! Or it sure seems like it, anyway. It's comparable to putting your thumb in a bucket of water. Pull out your thumb and see how long it takes for the water to fill in the hole left behind. That's about as long as a person will be missed these days, once you pull the plug and retire.

 

[Tarmy]

Having worked basically full time since I was 14 I retired at 60. Ended up owning a company with over 100 employees and loved work. I had three things I wanted when I finished college (that I paid for). Never wear a tie unless I wanted to, own a company and retire at 60. Mission accomplished.

I have been retired 5 years and love it. Never bored, comfortable and loving life. leaving today for a week skiing with my oldest son and wifey…

OP, your heart is made up, now accept it and enjoy. Congratulations.

 

[Moose7060]

Enjoy your retirement RCW! You've earned it and will absolutely love it!

 

[Ping]

RCW,
Congrats and enjoy it. Sounds like you earned 'every day is Saturday'!!!!!!

 

[RCW]

The timing is ironic after posting this thread last night…..

Got a call from my former NYS Assemblyman. Known him since I moved to the area. Good guy that retired a few years ago. His successor in the State Assembly is friend of mine.

He was recruiting for local Lions Club members….. I very much appreciated the invitation, especially from him.

While I declined for now, I told him my horizon is getting very close.

I may reconsider in the near future, when I’ll have more time to dedicate to the cause.

 

[William1]

I retired 18 years ago. Wife finally retired two years ago. I had it planned so my retirement income would be much greater than when I worked. I did not anticipate 30% inflation, which stinks. Bu I still 'earn' more than thrice what I spend month to month. No kids to leave anything to. When I move to the old folks home, I'll probably do a 'pay once, live there forever deal.' They hope I keel over in the first year (most do) and I hope to squeeze them for 20 years... Do you feel lucky, well do you?