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Re: Retiring early - share your experience! Please!

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Message 11 of 151

Hi, I retired at 60. As a former capital equipment in the bindery arera of printing as well as printing sales, I decided that it was enough. My wife, a former public school teacher, retired at 55. I looked over my finances, and sice we live simply, we both decided that I could retire. I am know 66. People ask me aren't you young to retire, and I tell them absolutely. Why retire when I'm old when I can't enjoy life. We take a week's long vacation once a year. and enjoy the weekends. What I recommend is that you find things to do to keep yourself busy and your brain healthy. I joined the "Y" and I go swimming and do aquasize 2x per week. Swimming 1.5-2 miles each time, and 50 minutes of aquasize afterwards. I bowl 2x week. I try to walk at least 10 miles per week. In addition, I play 'Words with Friends', a scrabble game with 50+ people at one time, and do soduko. I'm enjoying life and so far not bored at all.

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Re: Retiring early - share your experience! Please!

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Message 12 of 151

@Calhounwoman, money is only not important when you have enough.  I know lots of retirees. More than half are going through their money faster than they had planned.  That half may run out of money as early as late 60s.  They will all be wards of the state when they die.

 

Retirement isn't so glorious when living in a cardboard box and eating one meal a day at the shelter.

 

I am  not retired and I call the shots for my life at least as much as you do.  I suspect I have more options than you.

 

I don't hate my job so that does make a difference. 

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Re: Retiring early - share your experience! Please!

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Message 13 of 151

@KalyanR567384, retiring early is an individual thing.  I prefer to address all the readers not just you.

 

The person above never had a life so early retirement allowed her to enjoy life.  She didn’t have a spouse to contend with. I am sure she would have preferred that bother. I try to take nice vacations so I don’t feel like life is passing me by. We go outside the US every other year for a great vacation. That way I can easily take 2 weeks which is still short for international vacations. I am not the type to bum around Europe. I prefer to sit on the beach and drink tropical drinkso r stay in a nice hotel. That and world travel will be what I do during my shortened retirement. My wife is much younger. She will retire at 62 while I will retire at 70.5 and we will retire within 12 months of one another, I will get out first.  Late retirement allows you to put away much more money in tax differed plans.  It is way easier to save enough to retire that way.  I have been putting in over 30k/year into tax deferred accounts for the last decade I work. It is surprising how little it effects your pay check. I had been giving too much money to Uncle Sam.  That is an extra 300k in a tax differed account!

 

I sounds like you just want to kick back.  That is OK if you can afford it.  Do you have at least a half million in the bank?  A million is way safer.  How much will you get from SS and your pension?  You can live cheaper after you retire by moving to a less expensive area to live and you don't need to commute or dress for success.  That all costs. Most people spend more than they make after they retire so retireing early has that many more years to deplete your savings.  i know someone who may run out of money in his mid 70s and he even has a pension. That is a bad time to be homeless!

 

Maybe you want  to start your own business.  That is something totally different.  

What you need to realize is when you retire don't expect to get great pay working for someone else ever again unless you have some rare skill in great demand. If you come back to work expect to make minimum wage. If you are not an entrepreneur you need a solid financial plan with enough money to last into your 90s. Most of my retired friends are not doing well. A few who are financially savvy are doing fine and one retired at 50.  Most of his investment are in the market so he is doing fine right now. So far this century, you needed to have at least 50% in stocks and not remove more than you make. Even some with pensions are doing very poorly. They just didn’t plan wisely. If you are too fearful of the stock market to play you need to retire late. I play the market but I will retire late anyway. I have never heard anyone complain they have too much money.

 

 

Remember healthcare.  You will be paying for that out of pocket until 65.  You will not make much SS retiring so early.  My wife has to retire at 62 or get penitelized for retireing early.  She has to pay for those extra years she will be drawing money from the pension. How much did you average in investments over the last 5 years?  Add that to your SS and pension and do you have enough income to live?  Most of my friends don't so their nesty egg is rapidly shrinking and they are only in their 60s. The smaller it is, the faster it shrinks.

 

I hope this gives you something to think on.  

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Re: Retiring early - share your experience! Please!

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Message 14 of 151
My husband died when I was in my 50's at the same time the kids were moving out. I took a few months to finish my college and got my BA after 30 years of going to college. It was my hobby. I got married early and was pretty co-dependent so I never got to do much that I wanted to do.
 
So, next, I traveled around the US a bit and found a woman online who wanted to go to Africa to do humanitarian work. That's where I was hoping to go. I went to Europe to get the project going. But she decided to get me to help paint her house so I left. I ended up being her house servant. I traveled around Europe until I completely ran out of money-2 months.
 
I did what many other widows did before me. I went to India. Then in 3 months I had to go for a visa run and went to Nepal. That was when I knew I was home. I love living here and that was 7 years ago. I had so many adventures.
 
Now I have a guesthouse, family and friends. I wrote a book and founded an NGO. http://KayGarnay.org I don't think if I waited until I was 66 (next year) I'd be able to travel and be as brazen as you have to be when you travel.
 
Yes, yes, yes, my vote would be to retire early and get back those teen years you gave up-well, that's how it worked out for me. Don't wait any longer than you have to to get your life back. I've grown so much and had so many experiences. I still work, but now it's from my heart and I love my life. Instead of a paycheck I have a village.
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Re: Retiring early - share your experience! Please!

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Message 15 of 151

I would like to hear about the pros and cons of retiring early. I’m 60 years old and would like to retire. My email address is [removed to protect online safety]. It would be great if you could email me. Thank you.

 

Kalyan

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Re: Retiring early - share your experience! Please!

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Message 16 of 151

@ccncee, Thank you for your inspiring, insightful, and RELATABLE experience and encouragement.

The retirement fearmongers constantly harp on money, money, money...we ALL know we need to have a FINANCIAL plan in place. 

The real challenge is planning for the emotional/social realities of a lifestyle different from our career/work lifestyle. 

Too many of us have used our workplace as a built-in social sitter (as in babysitter) because it was autopilot easy; and, consequently, didn't bother to cultivate a LIFE away from work.  Even those married with children can struggle to adjust.  A former colleague's spouse complained about him "being every where".  She resented him being at home (intruding on her territory and time) and he resented being made to feel like an intruder in his own home. His children weren't interested or didn't have the time to hang out with him now that he was "retired".  Well, what goes around, comes around.  He didn't have time for them when he was working because he was busy 'providing for his family'.  Translation, he was emotionally and socially hiding out at work.  Remember the song, "Cats In The Craddle"?  It was a very difficult time for both of them.

You can't just pull a new life (lifestyle) out of the sky. A life well lived requires just as much planning as anything else worthy of your efforts.  I retired at 58 and in the three years since, I've had to change, adjust, mourn, re-invision, and constantly and consciously cultivate my retirement lifestyle so that I can celebrate the fruits of my lifetime effort  to call the shots involving MY LIFE as I choose it to be.

LIFE. IS. FANTABULOUS!

 

 

Fey Lady
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Re: Retiring early - share your experience! Please!

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Message 17 of 151

@uechapa, thanks.  I don't mind rudeness since I can be accused of the same.  I don't mind someone calling me out for spelling since I am a poor speller and am very comfortable with who I am.  I am successful at what I do and maintaining my health. This and family life is about all that matters to me. Poor spelling is a weak insult supposing that stupidity causes this instead that some minds don’t notice spelling errors. Like intelligence, it is genetic. I am happy I got smarts over spelling.

 

I am sure my view on drugs is the antithesis of his/hers. For the last 20 years I have tried to spend at least 10 hrs a week researching health and finance.  The rewards have been staggering. I will retire with more money that I could ever imagine and remarkably healthy.

 

For me drugs will likely extend my life more than a decade longer than the average dude with my problems and likely live into my 90s. That is why I don’t mind retiring at 70 even though I don’t need the money. You never have too much of that.

 

Others feel drugs are evil and an attempt for drug companies to poison us. Well, drugs have been accredited for taking the average life expectancy from 75 20 years ago to 85 today. It is likely the genera; population will make it into our 90s just because we have underestimated how effective the new advances are and what will be coming.

I have conversed with med nuts who claim BP meds are only to make money but his wife died from kidney disease which certain BP meds are super effective in preventing that. They would rather die early than take meds. How smart is that?

They caught one group selling ‘natural water’ they must have taken from a farm stream. It was so polluted with animal feces if it was a swimming pool it would have been shut down. They would them by tracking down some crazy illnesses. People were coming down with animal diseases.

 

These people lack the foundations to intellegently vet information they read.  Mercury doesn't cause dementia.  It will get absorbed into endocrine glands which is probably more unhealthy.  VAXXED is a money making org. What I did read was not fact.  I think a conspericy to wipe out humans is crazy.  Why would the medical community, the government and big pharma want to kill us off?  They would be killing them selvs.  They probably sell sewer water for $50/gal.  Only the most gullable would believe that site and they are ripe for the picking!

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Re: Retiring early - share your experience! Please!

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Message 18 of 151

               Check out VAXXED.    Big pharma & vaccine industry working to delete population.

Aluminum & mercury adjuvants causing dementia & clogging other organs.   Also truth about 

cancer, vaccines, GMOs & pet cancer.   Glyphosate, dicamba, 2-4D  and fossil fuel spills

gas fracking factory farms all polluters promoting disease.   Chemical overload & subsequent

nutrient deficiency  are the real issues in our lives today.    We have not had any progress in

any disease.   They have made lots of money making us ill.    We do nothave health care but

disease management &. disease promotion.

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Re: Retiring early - share your experience! Please!

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Message 19 of 151

@smetroWho says chronic diseases must be self-inflicted?  Don’t you know most are genetic?  Oh that is right you aren’t an RN. Some can be helped with a poor life style. 

 

For all my afflictions I do exceptionally well.  Not knowing anything about you I suspect I will outlive you despite several serious life shortening diseases because I made my self an expert on my health issues.  I had an insurance company bet big money on that for not much of a premium that I will make 75. After that the rate is no longer locked.  It was a slam dunk for them.  Rarely do they get to see another players hand in poker.  I have extensive in-depth health tests.  Diabetics usually die from CVD.  By 15 years the average T2D has massive plaque build ups.  I had less than the normal build up for my age.  The cardiologist commented I was the healthiest long-term diabetic he could recall seeing. Of course, I should hold your ignorant opinion above a cardiologist.  What I mean by that was the cardiologist made that comment after reviewing 20k worth of tests. You know nothing about me but feel you know it all. Good for you!

 

That plaque report is why the insurance was willing to give me such a deal.  If I was this good after 15 years it was unlikely I would go to pot so much as to become life threatening in 10 more.  My spelling is due to auto correct and being a poor speller. BTW… I am about ready to retire and do very well for myself. I am in the top 10% are you? I get paid for problem solving ability not spelling. I do spell check in my professional world but not for AARP members, sorry. I can give a rat’s ass what you think of me and I assure you I think less of you. At least I am not even close to as stupid or ignorant as your comments are!

 

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Re: Retiring early - share your experience! Please!

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Message 20 of 151

Ron Mesnard is surely glad to be alive, as we all should be whether we took good care of ourselves or not 'cause we're in the present, and the past can't usually be undone as in Ron's position.

 

If a post has misspelled words, less than perfect grammar, tense, sentence structure or punctuation, is immaterial 'cause we can either read it or bypass it; however, I don't condone some online stranger denigrating someone else's post 'cause it's not perfect.  I also think it's impolite to bring it to someone's attention.

 

Life, now, is much shorter than we thought so I think we should abandon the petty crap and learn to edify one another rather than criticize.

 

C'est tout bon.

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