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Conversationalist

Re: Retiring early - share your experience! Please!

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Message 31 of 135

I  dropped out of the job market as soon as I could. I was in my 50's and left the US for the first time. I finally landed in Nepal where I live now and I have never regretted it. The healthcare is really pretty good, although I wouldn't want to have heart or brain surgery here. It's so cheap I think retired people should come here for the wintertime and get their health taken care of. I had another tooth saved a couple months ago and the place is clean and modern. I've made it my mission to help as many people as I can to enjoy their golden years outside the West. 

 

I have a happier life and can do so much more for my village than I could back home. Young people are respectful and kind. Anyone interested in Nepal as an option can contact me. I guess one thing I miss sometimes is friends from my culture, so I'm always available. Nepal is about half the monthly cost as just about anywhere else and it's really beautiful; it's only polluted in the city.

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Conversationalist

Re: Retiring early - share your experience! Please!

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Message 32 of 135

This happens to so many people, there is a great deal of discrimination regarding age, even if your the most qualified, I had a similar situation and ended up working part time minimum wage for a senior employment service called : Experience Works. I know they are not in every state but if you can get by it’s better than nothing,. I wish you all the best, I truly think that SS should be fully funded for all at 62 with no cuts to the benefit.

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Conversationalist

Re: Retiring early - share your experience! Please!

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Message 33 of 135

We have thought about Mexico and possibly Belize, would you mind sharing where in Mexico your living? We have visited Puerto Vallarta and Zhiuantenao, both very nice with many Americans living there.

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Re: Retiring early - share your experience! Please!

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Message 34 of 135

My wife and I retired early.  I was 56 and my wife 54.   We had not planned to retire this young but the opportunity to sell our home and more than double what we paid for it, made it possible.  We both had careers that we could go back to if we found it too expensive.  In our 60's we were asked to do a part-time job that was fun and we got to travel with it.  But in a few years, we didn't want to have to give up even that time.  Getting insurance was the most difficult part of the early years.  But we both loved doing things we never had time for.  20 years later we are still enjoying doing things we would not have had time for.  Our retirement kicked in during our 60's which helped.  I am now 74 and my wife 72.  I think we are both in better health than we would have been.  My blood pressure is now under control and it was a perpetual problem when I worked.   I do not regret retiring early and we would both do it all over again.   Having no debt makes our retirement much easier and no dipping into our savings to live.

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Conversationalist

Re: Retiring early - share your experience! Please!

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Message 35 of 135

The only thing about retiring early,on time,or late is at least in my case is the high cost of healthcare,especially medications.That DONUT HOLE thing is killing my budget.I have wrote to my politicians in office and it's like talking to a wall,you get nothing in return,maybe some cracks.Good luck to you.

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Re: Retiring early - share your experience! Please!

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Message 36 of 135

A subtile detail, when eventually apply for Social Security, via ssa.gov:   There is a little check box asking, “do you want voluntary tax withheld?”

I have had mandatory tax withheld all my working life, including mandatory Social Security withholdings from my monthly income!  So, I was disgusted at the thought of volunteering any more tax to Uncle Sam.   Hence, I left that check box blank, with the intent to not “volunteer tax”! 

Translation to that decision was evidence a year later at tax time!  The result was no tax withheld at all, on our Social Security income!   Hence, having to cut a big check to IRS due to tax underpayment!!

The other ugly revelation are some of the administration staff answers, when I asked about the expected time to receive my first check after applying:  “It’s like working.  You have to wait a month to earn your benefit”!!!!  Sorry, but it is not “my benefit”!!  It is my hard earned money,  automatically extracted from my earned income for decades,  and finally being delivered back to me at the worst rate of return possible!  NOT a benefit!!!!

So, check the little “voluntary” box when you apply, to avoid suprises......

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Social Butterfly

Re: Retiring early - share your experience! Please!

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Message 37 of 135

@VickiB209855, I can share your pain!

 

You may find useful info in a different discussion.  That one is more about job hunting while being descrimiated against than retiring.

 

Most of the people I know who retired early because they thought they could make it fine are having trouble.  Only the ones that knew they would be fine are doing so. If in doubt DON'T!  Once you have been out of work for a few years will likely need to settle for minimum wage.

 

https://community.aarp.org/t5/Work-Jobs/Age-Discrimination-in-Job-Search-and-the-Workplace/m-p/19710...

 

Good Luck!

 

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Silver Conversationalist

Re: Retiring early - share your experience! Please!

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Message 38 of 135

I understand fully what you are saying about high insurance premiums and deductibles Vicki. The high cost of living in the U.S. has become a burden for many families. For those reasons, I retired at 58 and my wife & I moved to Mexico to live. We qualified for Seguro Popular, the Mexican health plan at NO premium. We have access to fresh fruit/vegetables/seafood, etc had very reasonable prices & it's plentiful year-round. Our mild climate does not require central heat or air, so utility expenses are low. People might ask if Mexico is safe to live in...I ask if the U.S. is safe anymore?--just look at the recent South Florida school shooting & it is reported as the 18th incident so far in 2018. I'm shocked every time we return to visit in the U.S. and grateful we made the decision to retire in Mexico.

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Re: Retiring early - share your experience! Please!

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Message 39 of 135

 I was laidoff at 61, very difficult finding another job.  Insurance is outrageous, high premiums, high deductible and nothing to live off of for food, housing and utilities.   To young to retire and to old to get another decent job.

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Re: Retiring early - share your experience! Please!

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Message 40 of 135

I retired at 55 because my husband was dying from cancer and I wanted to be with him full time his last year of life.  I also hated my job tremendously.  Retiring was the very best thing I could have ever done.  I have worked a couple part time jobs over the years and have time now to enjoy life.  I travel a little each year to visit family and spend lots of time with my 3 dogs.  And I can now putter around in my house and garden.  Life is good.

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