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  • Retirement

    I'm making plans to retire next year on my 40th birthday. I've obviously been making plans since I was much younger.

    I have more hobbies than I may even have time for after being retired.

    Some people think I'm crazy, others are jealous.

    Here's my question for the retirees....Would you have retired even earlier if you could have?

    Thanks for your feedback.

    Stacey

  • #2
    I haven't retired.

    One eye opener was when I heard that the average life expectancy for a guy is 83 years. So the question comes up, do you have enough to live on for another 43 years, more or less?

    I don't plan on retiring. I'm saving money but I like the type of work I do too much to give it up. They're probably going to have to pry my corpse out of my desk chair some day. Hopefully later rather than sooner.

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    • #3
      I am 57 now and retired at 54. I am very much enjoying myself but I am not sure I would have retired earlier even if I could have.

      Unless I was extremely wealthy (i.e. homes evreywhere and a jet to get me there) I think it would have seemed strange for me to be retired in my 40's.

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      • #4
        A friend observed that retiring may encourage one to take on 10X as many new projects, but only roughly doubles your spare time. Plan wisely :-)

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        • #5
          Stacey, I'll be 52 in September and will have 29 years in my career in August, and if they offer an early out this summer (the suspense is killing me!) I'm taking it.

          Sure, staying to 55 (or later) would make the retirement amount significantly better.

          In my case, "better" is the enemy of "good enough".

          But staying until 55 would mean another 7000 hours of commuting and being at work (not to mention continuing to get up at 4:15AM to start at 6AM).

          Some people will say "but what would I DO?" Since I've easily got years worth of projects in the queue, and I can think up several new ones on a daily basis, I don't see that as a big concern.

          If you are able to retire (with a reasonable level of financial stability) no one is saying you can't find a second or third career if you desire one. Maybe retirement will free you up to work at something that has interested you but that didn't quite pay well enough for you to make a career switch.

          I don't hate my job, but it sure has gotten very tedious the past few years. Retirement to me means doing the things I want to do, instead of getting home and thinking "I'm tired, maybe I can get into the shop tomorrow, or the next night, or the weekend, or . . ."

          So if you can do it (and congratulations on having the discipline to work yourself into a position where you can consider it at your age) and you WANT to do it, do it.

          If you are unsure if you could take the stress of not working maybe you could arrange to go part time and see if you can get used to not going to work an extra day or 2 a week.

          Part of my early retirement planning has been to get the house paid off (two years ago), and I've been doing my serious machinery upgrading this past year so I don't have to try and figure out how to make major capital purchases on a reduced income.

          cheers,
          Michael

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          • #6
            I worked at several universities and state/provincial facilities over the years. One day they said early buy out, and I went over to personnel, when down the list of where I had worked with them. I had to buy my miliatry service time in with interest, then I had 25 years of "state service" the university bought in another 5 years, so I could retire within a few months with 30 years. Did that 10 years ago. I can afford to stay in my suburban home, buy a new car every 3 years and do things I want to make money or to just have fun.

            Jerry

            Yes I would do it all over again.

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            • #7
              good afternoon.

              54 now. retired at 38.

              had a couple of kids then. had plans to travel some after they were raised.

              youngest some born when i was 40. [guess i should have been traveling, huh?]

              i wouldn't change any of it for the world.

              divorced now and next to youngest son has lived with me the past 10 years. youngest spends school vacations here.

              the extra time with my kids has been worth whatever i gave up.

              peace.
              billr
              ........i dremel. therefore i am..........................

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              • #8

                Go for it now.

                I retired at 60, didn't do it soon enough.
                Should have done it 15 years sooner. Thought
                that I needed more money. What a stupid idea
                now,in 20 or 30 years the kids will get it all.

                Still don't know how I had the time for a job. With traveling, taking care of our
                properties, and trying to get in a little
                shop time there just isn't enough time in
                the day.

                Again GO FOR IT NOW.

                Ross
                GUNS Don't kill people
                Drivers using cell phones do.

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                • #9
                  i went fulltime for my self 3 years ago. it feels like retirement though. i dont have to punch a clock or kiss someones butt to get a day off. right now i am working on my appartments.
                  God put me here to complete a certain amout of things. i am so far behind i can never die.

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                  • #10
                    Stacey,I was made redundant from my job 13yrs ago,at age40.In reality,they did me a favour,if I had stayed on in my high-pressure job,I probably would have had a heart attack by now.
                    I did a few part time jobs,and a bit of voluntary work(tramcar restoration,(I think you call them trolleys in usa).
                    I am by no means wealthy,but my wife and I are happier than we've been all our life.We get to do things that simply weren't possible while I was working.Some people think we are selfish,but those same people want a new car every year.I drive a 10year old mitsubishi,and it serves my needs.
                    If you can live comfortably,take the retirement and don't look back.Life's too short!my2cents.best of luck,whatever decision you make.

                    ------------------
                    Hans
                    Hans

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                    • #11
                      Iretired at 64, 11 years ago.
                      Prices have gone up, taxes have gone up, all kinds of emergencies have come up.
                      Now, at 75, I have gone back to work so that I can keep what I have intact. I did not figure that my prescriptions would cost 250 a month and that I would have to build a fence around my property, put on a new roof after only 11 years, cut trees in the yard and as health got worse, do more house work and yard work and live on after my spouse died, etc. etc. etc.
                      Live fast; die oung; make a good looking corpse.
                      Today we carve our own omens Leonidas at Thermopylae

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                      • #12
                        I did it at 55 never looked back. If you don't need new stuff every time you turn around $$$$$$. DO IT you wo'nt be sorry.If you want to do something you can and if not you don't have to it's all up to you.
                        Lumpsmith

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                        • #13
                          If the money is there, then do it and don't look back.

                          More money can be earned if needed, you only get to live each moment of your life but once. Live it the way you want to and not how someone else wants you to.

                          Be prepared to encounter considerable jealousy from others...remember it is their problem, not yours.

                          You may want to consider that fact that you will not be tied to a location to generate an income. Consider whether you might want to spend part of your life in a different place or climate. The world is an interesting place that most of us never see.

                          Be sure to spend as much of that time as possible with those you love...years from now you will understand why I mentioned this.

                          Good luck with your retirement!!!

                          TMT

                          A parting comment...

                          A point for those who will work forever...in a number of large companies the retirees who retire at the normal age only normally live an average of THREE YEARS after their retirement date. Consider this in terms of when you will retire and when they talk about extending the age where you will collect Social Security.

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                          • #14
                            Due to my misspent youth, I had to work til' 59.
                            I love it!It is a 7/24 job tho, so much to do.
                            As mentioned, if you can afford it, do it.
                            I've known a few people who said they would work to 65 or so, have lots of money, well they did not make.
                            Suppose their widows appreciated the effort tho.

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                            • #15
                              I retired at 54 and think it is the best thing you can do if you have the money. You have to stay busy and do something that you like.

                              Joe

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