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Old 07-30-2011, 07:07 PM
 
Location: Central Maine
4,687 posts, read 5,538,476 times
Reputation: 4966

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I am doing a project for college and am looking for input from retired citizens.

Are you newly retired or have you been for over 10 years?
--- Retired for 3 years.

What is your life like compared to how it was before?
--- Less stressful - I laugh more.

What challenges do you face?
--- None at this point; health will be a concern at some point.

What are the benefits?
--- Time, as in more time to do things, spending time with my wife and children and other family.

If you could change anything, would you?
--- Not a thing.

Would you still retire at the same point if you could go back and do it again?
--- Yes. I retired at 55, the earliest I could possibly retire.

What advice do you have for younger generations about retirement?
--- Save, and then save some more; but if you wait to retire until you can "afford" it, you may die on the job.
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Old 07-30-2011, 07:14 PM
 
Location: Forests of Maine
30,685 posts, read 49,462,974 times
Reputation: 19134
Were you looking for baby-boomers? or older retirees?

I am a baby-boomer [born in 1959] and I know a great many fellow boomers who are likewise on pension.
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Old 08-01-2011, 12:03 AM
 
4,135 posts, read 9,423,519 times
Reputation: 2687
I am doing a project for college and am looking for input from retired citizens.

Are you newly retired or have you been for over 10 years?
10 years my husband; 9.5 myself

What is your life like compared to how it was before?
less hectic

What challenges do you face?
None.

What are the benefits?
No alarms, no scheduling of "have to get this done today at such and such time", a general sense of peace and sanity and time to do what we never got to do while working

If you could change anything, would you?
Retire sooner

Would you still retire at the same point if you could go back and do it again?
see above

What advice do you have for younger generations about retirement?
The first thing ( and one we tell our daughters) is to immediately bank at least 10% of every paycheck to save. Get a job you enjoy, because you may be there your entire life, given the current economy. Get the college degree or advanced training to advance. Use your vacation and don't put off doing things you want to do... as long as you do it frugally. Look back at us and your grandparents: we are children of Depression - era parents and your grandparents were the Depression - era children: what you saw in growing up, the frugality, the savings -- it all allowed us to retire and enjoy life. You are the one who chooses if you go that path or just fritters all away. The time to decide is when you are young

Thanks for your help!
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Old 08-02-2011, 06:19 PM
 
624 posts, read 1,077,315 times
Reputation: 616
[quote=StudentStudy;20236057]I am doing a project for college and am looking for input from retired citizens.

Are you newly retired or have you been for over 10 years?

I retired 6/17/2011

What is your life like compared to how it was before?

Much more relaxed. I am doing things without rushing (gym, pool, bike, reading, relationships)

What challenges do you face?

To golf today or go bike riding

What are the benefits?

I retired at 55 and have my health to still do more than go to restaurants. Not having to work in a broken educational system that has been deceiving the public for many years.

If you could change anything, would you?

Ate more ice cream and developed a skill other than memorizing stuff for multiple choice tests in school.

Would you still retire at the same point if you could go back and do it again? YES

What advice do you have for younger generations about retirement?



Save your money, stop buying stuff that you do not need, do take out loans to go to college, that you may have to work a lot longer to pay off the debt the government has put our country in, that quick fixes do not work, that technology is not always right or necessary, to get outside and stop looking at screens, to believe in Jesus, to marry your best friend who is the opposite sex, that their is a right and their is a wrong.
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Old 08-03-2011, 01:51 AM
 
3 posts, read 2,216 times
Reputation: 10
Default Thanks everybody!!

Wow, great responses everybody!

If there is anyone out there who has been retired 10+ years I could use a little more input from that group, other than that I'm set..

Thanks for the links to other sites and sources I will check them out.

Everyone, thank you, thank you!! and THANK YOU. This was so much better than just asking a few people I know, it's great to get such a broad sampling of different view-points.

again..thx.
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Old 08-03-2011, 06:54 AM
 
Location: Maryland
1,534 posts, read 3,782,708 times
Reputation: 2307
OP, a critical element I neglected regarding advice to the younger generation:

You or your significant other/spouse/whatever - ABSOLUTELY need to acquire financial literacy early in your life to avoid common screw-ups in financial management. You must be at least minimally financially literate to build the assets necessary for an enjoyable retirement.
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Old 08-04-2011, 06:03 PM
 
3 posts, read 2,216 times
Reputation: 10
Default as long as your retired

Quote:
Originally Posted by forest beekeeper View Post
Were you looking for baby-boomers? or older retirees?

I am a baby-boomer [born in 1959] and I know a great many fellow boomers who are likewise on pension.
As long as your retired! Baby Boomer or not.
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Old 08-05-2011, 12:14 PM
 
Location: Mtns of Waynesville,NC & Nokomis, FL
4,241 posts, read 8,087,515 times
Reputation: 5299
You mentioned decade plus retired, so here's my 50Cts...

Quote:
Originally Posted by StudentStudy View Post
I am doing a project for college and am looking for input from retired citizens.

Are you newly retired or have you been for over 10 years?
11 years + here...

What is your life like compared to how it was before?
Much less daily stress, though it's been 'so long' the less enjoyable aspects of work & career have faded from memory. I did miss the 'action', managing people, making the Qtrly #s, the industry I was in, etc. Now, more time for hobbies, avocations, few deadlines or 'got to do this' situs. Otoh, one must fend off the 'we can put that off until next week' mode...and, I work at staying 'busy', or else...

What challenges do you face?
One's 60s may be the youth of old age, but the bod can't do what it used to, stamina or strength-wise. Continued good health is a niggling thought in back of mind. What to do with estate, what to do with 2 homes, what needs attention vs put off, 'what does one really want to do next, or check off the list', realizing that time is limited. Making sure there is enough dough and 'coverage' for the end time months or year(s). Keeping the ol' portfolio in shape is a part time job.

What are the benefits?
Obvious: few deadlines, little stress, not caught up in the grind, time to just watch the world go by, more social life and social activities...and, just plain more 'time' to do as one wishes.

If you could change anything, would you?
Maybe, a better hub the 1st time, and wished I had spent more time with our 40 sumpin' kids, when they were growing up; the hardball career choice(s) got in the way. Other than that, wouldn't change a thing...

Would you still retire at the same point if you could go back and do it again?
A couple of more years = more dough in the ol'port, but I had had 'enough', and I knew it was time to pull the ripcord, then. So, yes.

What advice do you have for younger generations about retirement?
Very different 'times' these days, imo...hard to give firm advice. The obvious: buy less dumb/gizmo stuff, live well within one's means, save like squirrels, spend more time with kids, spouse/fam. No matter how much you like your job or the company, it will never love you back. Set realistic goals, but flex when necessary, and that doesn't mean, "I got a bonus, so let's go on that cruise". Be Prepared: the next decade(s) is gonna be less fun and even potentially more chaotic than the one we just went through, imo. Be happy, and true to yourself, and to your Fam.

Thanks for your help!
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