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Re: Retiring early - share your experience! Please!

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Message 51 of 96

I retired at 60 but not by original plan. Due to recent benefits changes that mandated I retire or face losing healthcare in retirement. Working over 41 years on the job, along with well placed investments, created a portfolio that I was not really not paying that much attention to as far as being able to retire early. Once I was given an ultimatum of healthcare or not, it was discovered that, yes, we could do this!

 

Besides a pension at 60, investments, and an additional Soc Sec benefit at 62, this would allow us the freedom to indeed retire. Once tasting retirement (3 years now) it is so so nice. We now can travel, enjoy hobbies, take relaxing walks which we thoroughly enjoy. We now prepare to visit our college student studying abroad in Paris, France. A big reason for our postion comes from good investments early (for college) and spending wisely.

 

I personally have always loved stopping and enjoying time with family. Twice during my working career I took lesser paying postions which allowed me to have more time at home. The alternative would have been out of town travel, and/or longer work hours. Though a consistent employee who could have earned much more, what I learned from taking lesser pay was how to manage home on less. Very much to my surprise, it got me out of the rat race early.

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Re: Retiring early - share your experience! Please!

1,132 Views
Message 52 of 96

I'm 69, professional divorced male and I retired 7+ years ago before I turned 62.  I had considered to work until 65-66 but I was in a rut at work and the upper echelon did not want to promote me further since I was already able to retire at will, and so I did.

 

My exit was not out of petulance. I chose to leave after 25 years as a Senior Systems Analyst and Project Manager, plus I bought 5 years of retirement because of my USMC military service.  My retirement was pre-planned, and 5 years before I retired I executed a debt-free plan that I achieved in 4 years which included upgrading my homestead and retiring all debt.

 

I worked over 50 years, starting at the age of 10, and I still glad I left the 'rat race' to give me more time to my hobbies and 'boy toys' as I see fit.  Being financially stable (3 perpetual income streams plus an annuity from my investment portfolio) gives me the freedom to enjoy life while still healthy and 'young' as I push into my 70's and 80's...

 

As a retiree I have no work-related stressors and I get to smell the flowers everyday while remaining active by traveling, exercising and enjoying several hobbies (golf; boating & fishing; road trips; photo shoots with cameras and/or drone; cross-country motorcycle rides; cruise vacations, etc) and still avail myself to spend time with my kids and my grandkids too.

 

I thank God daily for all my blessings and the opportunity to enjoy each day, hassle-free.  I learned to live under my means in my adult life and I continue to do so in my senior years, always having a financial 'cushion' for life's inadvertent mishaps.  I do believe that there are no bad days, and that it rains on the just and the unjust.

 

My advice to my children and grandchildren is to enjoy life daily but also plan for their turn at retirement so they can continue life with the same standard of living:  live for today and tomorrow too.  Enjoy life on 80% of your gross and save 20% for your tomorrows, and may there be many.

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Re: Retiring early - share your experience! Please!

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Message 53 of 96
Congratulations! What a lovely life you have! I'm going to do a quick search and find out where Rosarita Beach is. My husband and I are both retirees living in a small mountain town in SW Colorado. Even though we're surrounded by lovely mountains and we love living here-most of the time, the winters are getting a little long and snowy! We're "shopping" for a humble "snow-bird" property, perhaps in Mexico. We also have a 5th wheel travel trailer, but have been wondering if it's safe to drive it across the border into Mexico. Where do you cross the border? I am fluent in Spanish, so there should be no problem. The smaller, less touristy towns appeal to us. We are just trying to ascertain whether it would be best to drive over with out travel trailer or to rent/purchase a small home or condo. Do you own a home there? Thanks so much for your time!
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Re: Retiring early - share your experience! Please!

1,118 Views
Message 54 of 96

am54885493 wrote:

I retired 2 years early.

 

I watched my mother deteriorate in a nursing home, I couldn't watch it anymore. So, financially able, i retired and brought her into my home where she could die in peace, with dignity. She lived just 2 months but she listened to Frank Sinatra, Big Bands and the Beatles. She had root beer floats for breakfast when she wanted it, grilled cheese and tomato soup, popsicles, ice cream, coffee with quadtriple cream, and her favorite Coca Cola one after the other. She was clean and happy. I sleep better today because I think I helped her when she couldn't help herself. 

 

These days I have a wonderful circle of active friends, serve on the board of 2 local non profits one of which focuses on seniors. While a senior myself, I can still advocate for seniors and I intend to keep doing so. 


Sounds like you did a wonderful job! ❤️

 

Life's a Journey, not a Destination" Aerosmith
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Re: Retiring early - share your experience! Please!

1,040 Views
Message 55 of 96

A suggestion:

If possible, can you work from home for Amazon or AT&T Customer Care for extra income. It's online and telephonic customer service.

 

I hope your life turns around for Good for you and your child!

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Re: Retiring early - share your experience! Please!

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Message 56 of 96

I'm proud of your strength and desire to care for your mom!!!

Continue to enjoy your life to the fullest.

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Re: Retiring early - share your experience! Please!

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Message 57 of 96

I retired 2 years early.

 

I watched my mother deteriorate in a nursing home, I couldn't watch it anymore. So, financially able, i retired and brought her into my home where she could die in peace, with dignity. She lived just 2 months but she listened to Frank Sinatra, Big Bands and the Beatles. She had root beer floats for breakfast when she wanted it, grilled cheese and tomato soup, popsicles, ice cream, coffee with quadtriple cream, and her favorite Coca Cola one after the other. She was clean and happy. I sleep better today because I think I helped her when she couldn't help herself. 

 

These days I have a wonderful circle of active friends, serve on the board of 2 local non profits one of which focuses on seniors. While a senior myself, I can still advocate for seniors and I intend to keep doing so. 

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Re: Retiring early - share your experience! Please!

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Message 58 of 96

I'm very sorry for your situation.  I hope your disability appeal comes through.  In the meantime, does your son qualify for benefits such as SSI due to his disability? And if so, he might be entitled to an increase because your income has been reduced.  I recently learned of a family that has a 10 year old with a disability and he eligible for over $900/mos in social security benefits because his father just retired.  My 19 year old only gets $600/mos because we are employed. 

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Re: Retiring early - share your experience! Please!

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Message 59 of 96

I am 55 years old and was forced to retire early. I was a Police/Fire Dispatcher for approx 33 years along with serving 6 years in the Air Force. I was also a 15 year Vet of a volunteer fire department in Ohio. I was forced to retire early from my last job as a police dispatcher because I was calling out sick a lot due to rheumatoid arthritis in both knees (possibly from the firefighting career searching on my knees a lot.) I also have other medical issues which prevented me from doing my job and assuring the safety of the police officers and the city residents. I decided to take early retirement because a supervisor who already had it out for me told me I was abusing my sick leave and he needed someone reliable. I took early retirement instead of giving him the opportunity to have me fired and loose everything I worked for. Right now things are not working out very well for me. I used to bring home approx $4500.00 a month but now only getting approx $1800.00 a month which only pays for rent and my car payment. I am forced to look into food pantries and social services to help pay utilities. My work place retired me on disability, but the Virginia Retirement System denied my disability request because I didn't meet their rules and I just sent in an appeal for that. I have an law group working form me on Social Security disability which I was denied for also for not meeting their rules for disability. They tell me it will take about a year for that appeal process to go through. I have filed for financial assistance from my doctors office and now  attempting to get veterans assistance but all is going to take awhile to process. Now I am about to have utilities turned off, unable to pay cell phone bills, which is the only device I use for phone. So taking early retirement isn't working out very well for me at all. Oh, and I forgot to mention I have a disabled 20 yr old son with autism and has a mentality of a 10 year old. So if anyone has any suggestions on how to better my life, please, all suggestions would be gratefully appreciated. 

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Re: Retiring early - share your experience! Please!

1,207 Views
Message 60 of 96

I'd been working two jobs simultaneously on split shift -the main job in an office, and the second job  teaching fitness classes at a local YMCA .  At age 59 I had major surgery and had to go on disability, which meant taking leave from the office job and quitting the fitness teaching job.  After surgery I was ready to return to the office job, but since I had so much vacation time coming (years of it), I was able to stay home and collect my regular part--time salary and keep my health benefits.  So I actually stopped working at age 59.  About two years later I decided I wanted to work.   In the interim we'd moved to another area.  I took a part time at another gym that was closer to my new home, but this time doing child care and working at the front desk.  In addition to getting paid, I had free use of the gym whenever I wanted it.  I stayed at that job until I was 70 years old.  The gym closed in favor of the owner renting the building to a hardware store.  The entire staff was fired at the same time!   I "almost" miss working, but I've found that there are lots of other ways to spend time.  My application to be a volunteer at the local library has been accepted, so I'll be working whenever I want.  So, I retirned early but still work.   It's a good feeling.

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