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  • Waiting ,to retire, to work

    Morning guys.This past Friday I had the oportunity to do some business at the local power gereration plant.The place was built in the mid 30s. Quiet day, down for maintenance. I walked by an Old drill press problably brand new when the place was put on line. Yuo know the kind with 37 feet of leather belt and cone pulleys. It was sitting on a pallet under a stair well with the power disconnected. Then a little while later there was a brigeport in the middle of the floor. Also on a pallet probably also as old as the plant. One with a slotter head on it. The engineer said it would likey be put up for auction because the machine shop is no longer used and the work is farmed out. Sad to see machines like that sitting idle. Hopefully they will find there way to the home/ shop of a HSM and get the care and exercise they deserve in there retirement.
    Yesterday(Saterday) I went to a retirement dinner at the ANG Air base that I used to work. So took the oportunity to visit the fabrication shop. I walk in there is a "Brand NEW" Colchester sitting on a pallet in the middle of the floor it is uncrated has had power to it long enough to run in the bearings. Has been in the shops inventory for about three or four years has never been set up and never cut a chip. At the other end of the building is a brand new 90 TON Scotsman Iron worker. It is still in shrink wrap and sitting on a pallet waiting to be set up and put to good use. Part of the problem is they keep telling the guys don't worry about setting the stuff up because we are moving the shop to a newer building. THAT has been going on for FIVE years. Sitting there are two young ones waiting to cut some metal and get'er done.
    I guess the moral is to find a task and be productive , wether we are fresh out of the factory without a chip on the paint or have been around a long time and ready to retire.
    Hope this finds all well with the power connected and cutting chips.
    Best regards
    Tin Falcon
    Ad maiorem dei gloriam - Ad vitam paramus

  • #2
    I have finally decide to retire at the end of this year. I am closing my computer store. The computer business has changed to the point where computers are a commodity item and the only way to make money selling them is to sell lots of them. As they become cheaper people are also less willing to spend much fixing them.

    This I foresaw when I opened my business 9 years ago and I didn't plan on keeping it open more than about ten years. It's pretty much on schedule and I'm looking forward to having no fixed schedule for the first time in many decades.

    I have my shop well equipped for what I want to do and I look forward to being able to spend more time in it. It also means we will have more time to visit family and take some time off from the everyday routine. I haven't taken a total of more than two weeks vacation in the last nine years.

    I am still having trouble getting my head around the idea that if my wife goes to a trade show I can go with her. I'll even be able to spell her off at work so she can have more time off as well. I think I might even overhaul their lathe as it really needs it. I might even be able to start making a dent in my endless list of things to do someday.
    Free software for calculating bolt circles and similar: Click Here

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    • #3
      [[I have finally decide to retire at the end of this year. I am closing my computer store.]] Better stick with what you know; BS, Computers.

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      • #4
        (Looks like I have to follow the blowhard !)

        I had hopes of retireing early but the 401K ain't doing as well as I like and Im making too good of money to quit now. Soon as my ankle heals it's back to work so that maybe my wife can retire early. Here all along I was hoping to retire early but it ain't in the cards. I don't think a buyout is in the cards either so I may as well just settle in and e n j o y it. Hurts to say that
        - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
        Thank you to our families of soldiers, many of whom have given so much more then the rest of us for the Freedom we enjoy.

        It is true, there is nothing free about freedom, don't be so quick to give it away.

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        • #5
          Retirement is the best job I ever had.
          John R

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          • #6
            Been retired since Oct 2000 from Cincinnati Machine (mach. tool division of Cincinnati Milacron) got a deal at age 57 never looked back,
            15 of us engineers left on the same day including 3 managers.
            I don't have the money I had while working but still would not trade my present lifestyle for any thing, they wanted me to work for around 6 months 4-5 days a week I said you think I am crazy, mess up my Soc. Sec and all the tax problems as here in God's country (KY) you pay no taxes on Pension or SS unless you make around $100,000.00 per year that's what my tax consultant tells me.
            Anyway enjoy your new life no hassles.

            Graeme

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            • #7
              Speaking of social security....

              Have you early retirees elected to begin collecting before your age of maturity? By collecting at the earlier age you get a smaller monthly amount, you lock in that amount for life, plus you are limited in the amount of money you can make without losing some of the SS benefit.

              My understanding is, if you wait to age of maturity to collect then you can also have unlimited side income (like from a small machining business) without risk of losing any of the monthly benefit. Apparently, any side income you make after maturity also counts to boost your monthly benefit.

              Anyway, it appears there are some good reasons to wait until you begin collecting. There's also the medicare issue.

              I'd like to hear how you early retirees have made your decisions.

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              • #8
                Those issues don't affect me. I won't start collecting government pension until 65. I have income from money in the equivalent of a 401K that I manage myself. The rules are a lot different here and medical is taken care of by the government. My wife will continue working as the GM of L&S Industries and I will help out around the shop there from time to time. I do the occasional machining job for them now. They have a small machine shop with a lathe and a mill and the lathe needs a good overhaul. Nothing serious but a lot of cleaning up and realignment. It's an old 14" Taiwanese Sum Long Dong or whatever and could use some tuning.
                Last edited by Evan; 11-19-2006, 12:06 PM.
                Free software for calculating bolt circles and similar: Click Here

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                • #9
                  Originally posted by Evan
                  I have finally decide to retire at the end of this year. I am closing my computer store. The computer business has changed to the point where computers are a commodity item and the only way to make money selling them is to sell lots of them. As they become cheaper people are also less willing to spend much fixing them.
                  I've seen the same thing happen in the Internet hosting business. I set up several servers and support infrastructure some years ago thinking I'd grow it such that by the time I retired it would have a positive money stream coming it like an oil well, and with little effort required on my part. It's grown well and makes money, and requires little effort, but has no future. Along comes some mba's with deep pockets and the entire hosting business has been commodotized. ISV's no longer know their customers, customers shop for price, nobody cares about QOS, and the quality of content and spam growth are discouraging.

                  I've decided to find a job at WalMart and work part time and take in odd jobs on the side. There's damn sure no need in rural America for a senior Unix engineer so there's no future in what I know.

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                  • #10
                    Hmmm.....A topic that is on my mind. I hope to retire in March of 07 from my full-time job after 30 years. Hope to work on my own for what ever time I have left to work. All we really need is to earn enough money for beer and jetski fuel from my home machine shop. Been working the home machine shop for 7 years now. I figure, if I'm ever going to work on my own I better start doing it. I'm 56 now.

                    I'll take my pension in cash, roll it over into a tax defered account and tap into it sometime in my sixties along with our two 401K accounts. It will be hard to walk away from a job after 30 years. But, the company continues to down size and as my buddies are let go it becomes easier for me to leave.
                    Jim
                    So much to learn, so little time

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                    • #11
                      Outback... I look forward to the day I can retire. Having a side job that you enjoy and can off set tapping into the savings... what a deal! March 2007 NICE

                      Good luck

                      Dum loquimor fugerit invida aetas

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                      • #12
                        : carpe diem quam minimum credula postero.

                        by Horace.
                        Free software for calculating bolt circles and similar: Click Here

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                        • #13
                          Originally posted by Evan
                          : carpe diem quam minimum credula postero.

                          by Horace.
                          Roughly translated into " He has two incredibly small fish shaped arses "










                          .
                          .

                          Sir John , Earl of Bligeport & Sudspumpwater. MBE [ Motor Bike Engineer ] Nottingham England.



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                          • #14
                            An old boy here was asked what differrence retirement had done for him replied all my aches and pains vanished overnight Alistair
                            Please excuse my typing as I have a form of parkinsons disease

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                            • #15
                              I took my SS last year when I turned 62 otherwise I would have to wait till I was 66, I figured it out if you live to be 80, 18 years at a lower monthly check versus 14 at higher one the total pay out not that much difference and besides one could want to wait but if the politions changed the rules and said either 62 or say 70 you would lose alot of money. I still have medical coverage thruthe company with drug coverage and will have Medicare at 65
                              plus my private ins (company) and drugs. My wife had worked enough to collect her SS on her income and it was greater than 50% of mine.

                              Everybody has their own situation plus I had a friend who waited till he was 65 collected 2 checks, had a massive heart attack and passed away, his wife had worked almost all of her life and collects her SS on her income as it was far greater than 50% of his.

                              Graeme

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