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Info Seeker
Posts: 3
Registered: ‎02-05-2015

Re: Retiring early - share your experience! Please!

Message 51 of 71 (1,542 Views)

RE: health care.

My brother in law required open heart surgury.  He was covered by United Health 
Care.

Before the surgeon picked up the scalpel, because he was only covered by United Health Care, he was required put up, in cash, the entire projected cost of the surgury, over $200,000.00!

Cheap health care insurance is not always cheaper in the end.

Be warned!

Info Seeker
Posts: 1
Registered: ‎08-12-2017

Re: Retiring early - share your experience! Please!

Message 52 of 71 (1,519 Views)

I'm hoping to be able to go in 3.5 years at 55. I'll have three pensions and two 401(k) s to live on and then social security will hopefully cover any cost of living increases by the time I start collecting. 

I wish there was a retirement calculator that allowed the input of pension income. 

The biggest concern I have, of course, is the cost of healthcare.

Does anyone have any suggestions for the above? 

Thank you! 

Respected Social Butterfly
Posts: 35,601
Registered: ‎02-27-2008

Re: Retiring early - share your experience! Please!

Message 53 of 71 (1,780 Views)

 


d939600r wrote:

I want to retire at 62 and want to travel and enjoy life.  I do not want to work until i am close to 70.  I will definitely stay busy, continue walking and getting involved with activities. 


@d939600r  Well then I hope you will be in a position to do just that.  Have you been planning and preparing for a long time?   What activities are you interested in?

 

 

Life's a Journey, not a Destination" Aerosmith
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Info Seeker
Posts: 2
Registered: ‎01-10-2017

Re: Retiring early - share your experience! Please!

Message 54 of 71 (1,785 Views)

I want to retire at 62 and want to travel and enjoy life.  I do not want to work until i am close to 70.  I will definitely stay busy, continue walking and getting involved with activities. 

Respected Social Butterfly
Posts: 35,601
Registered: ‎02-27-2008

Re: Retiring early - share your experience! Please!

Message 55 of 71 (1,942 Views)

uphillklimber wrote:
>>

I have found that getting my self financially set up removes the concerns of will I make it, and that frees me up to actually do the things I have always wanted to do more of! You just gotta get out there and do it! Enjoy this time!

Sounds like you made the right choice for you. Congrats.

 

This is really a personal decision as the factors are unique to each person as are the reasons to stay or go.   Only you know what is best for you and sometimes you don't really know.   Most importantly, do the research and then decide.  Going back to work is often pretty difficult. 

 

 

 

Life's a Journey, not a Destination" Aerosmith
Info Seeker
Posts: 1
Registered: ‎11-16-2015

Re: Retiring early - share your experience! Please!

Message 56 of 71 (1,892 Views)

I retired at age 55, and was recently offered a job at my last place of employment, part time. I ended up turning it down. Retirement, in my opinion, is the bomb!!!! I've worked hard all my life and haven't done as much fun stuff as I would have liked. Now I am. I've joined a local ski club, and last year, I skied 74 days. While I was working, 18 days was a lot. Summer time, I kayak, bike and hike. I also volunteer on some land trusts and various town boards. I see my grandkids once a o month or so (they live a ways away). I no longer have to punch someone else's timeclock, but I do keep busy. And there are also some days I spend in front of the PC researching. While it is not very active, I get to search out history and learn. 

Financially, I am better off than when I was working. I moved to a low cost area to live. When I first moved here, identical house as my last home (I built them, I'm a builder), my property taxes were less than a third of what they were previously. My state does not tax the first $10,000.00 of annuity income. I take advantage of the homestead act for property taxes. Although, I did not work last year, or pay in any taxes, I recived about $550.00 in tax returns from both federal and state. Not a whole lot, but a welcome surprise!

I have found that getting my self financially set up removes the concerns of will I make it, and that frees me up to actually do the things I have always wanted to do more of! You just gotta get out there and do it! Enjoy this time!

Info Seeker
Posts: 1
Registered: ‎11-06-2013

Re: Retiring early - share your experience! Please!

Message 57 of 71 (2,440 Views)

I retired on my 59th birthday.  It was definitely the best thing I ever did for myself.  I moved to the mountains of Northern Arizona, where there are lots of year round recreational opportunities.  I go kayaking almost every week, year round including winter. I am in two hiking groups, including leading one.  I am a member of a lifelong learning group.  I served as treasurer of my church for three years.  I joined a Rotary club, and got involved with Rotary Youth Exchange.  I go back to California occasionally to visit our grandkids.  I am now 71, and thoroughly enjoying life.  Sure, I have some aches and pains, but nothing major.  The second best thing I ever did for myself was to lose 100 pounds.  Being active, rather than sitting behind a desk, helped a lot.  In addition to all that, I now am a substitute teacher (math and science) in the local high school.

Find things you like, and get involved.  The kayaking group let me to the lifelong learning group, which let me to hiking, which let to...

Info Seeker
Posts: 3
Registered: ‎11-06-2011

Re: Retiring early - share your experience! Please!

Message 58 of 71 (3,023 Views)

Thank you so much for sharing your story! I'm sorry for the loss of your child! And it must be difficult still caring for a disabled child at 66!  You're a strong person! I just don't think I could do it that AND work much longer.  I too love my job working  as an assistant for the Superintendent and our PIO, but I am not as sharp as I used to be. and while I don't think anybody really notices, I struggle every day with all the details and if you work in Special Ed you must see how complicated things are getting!  I've been saying for the last couple of years that nothing is simple anymore, nothing!  As soon as we get a handle on something "they" change it!  I have watched so many co workers over the last several years work to 65 or 66 even thought they wanted out much earlier, only to live 3-4 year and pass away.  I have three beautiful grandchildren still young enough to appreciate Grandma and I want to have more influence on them while I can. I live a simple life so I don't need a lot of money but being with the district over 33 years has afforded me a livable retirement. I plan to retire March 30, 2018 unless of course the country explodes or the economy collapses!.  (I pray every day).  My plan right now is to hold off on collecting SS but that depends on how much I will have to pay for health insurance until I'm 65.  I will leave my district after 33.5 years of service (I've seen it all!) I think I've given enough. I want to try other things for this time in my life.  I'm not sure exactly what that is but I'm looking and praying for what that might be. I wish you the best - don't wait too much long for a chance to do what YOU want to do, WHEN you want to do it. You deserve it. Take care.

Info Seeker
Posts: 1
Registered: ‎05-29-2017

Re: Retiring early - share your experience! Please!

Message 59 of 71 (2,536 Views)

I will be 66 next month and am still working full-time.  I work in a school district as the district special education secretary to the director of special education.  Sounds pretentious but it truly isn't.  I truly love my job and my boss which is probably why I didn't retire at 62 when I had seriously thought about doing so.

I am also retired from the military for over 27 years.  Once, when talking about retiring from my job, my boss asked me why I was still working if I could draw social security, get retirement for this job, and have a military retirement.  I told him the difference between 62 social security and 66 social security was a leap.  

I'd like to retire.  I think about it every single day.  My husband only wants me to work 2 more years but then I think, what about working until I'm 70 because the difference is quite a bit?  He is 71 and stays home with our daughter, who is disabled.  But now she goes out to day services and we are waiting for assisted living to open up for her.  We have grandchildren.  We have already lost one child 3 years ago.  Life is short.  So much I want to do but I love my job too.  So I'm just going back and forth over it.  Oh well, I'm sure I'll get this figured out sooner rather than later.

Frequent Social Butterfly
Posts: 129
Registered: ‎12-11-2013

Re: Retiring early - share your experience! Please!

Message 60 of 71 (2,778 Views)

If you have the resources. If you have a plan. If you can do what you really want to do. If you can get something "out of your system", go for it. But you can not just sit around for the rest of your life,you got to do something. If you want to, goof off for a little while and then get on with your life; change of work, volunteer, write a book, play some golf.