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Old 08-02-2011, 11:36 AM
 
Location: Toronto, Ottawa Valley & Dunedin FL
1,409 posts, read 2,354,415 times
Reputation: 1159

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I retired at 60, when the IT company that I worked for folded up its tents and moved to India. I was a high-level manager, a VP actually. I was *very* tired of doing this type of work, really sick of it. But I would have liked to keep doing it for several more years for the money.

But...this happened 3 years ago, just before the "great crash". By then, there were no jobs, especially for high-priced manager types for me. After sweating it for a while, I realized I just didn't want to look, so I stopped. It took me more than a year before I fully realized that I was de facto retired. Now I'm happy as a clam.

My husband is an academic. He kept working until this year when he was offered a very nice package to step down. Which he did, although he promptly got hired back on contract to do some teaching this fall. But he can pick and choose when and how much.

So, we had his income until now. But by then, this summer, the numbers were just right.

Fortunately we don't have to worry about health insurance (Canadian), although for our snowbird activities in Florida we have the university's excellent out-of-country travel health policy.
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Old 08-02-2011, 12:45 PM
 
Location: Maryland
1,534 posts, read 3,781,044 times
Reputation: 2307
I had a fairly solid plan to bail out as early as possible and then a divorce hit in my later 40s, that required a "tad" of financial reprogramming. Happily, things got back on track and I bailed two years later at 57. Every one should have one divorce - it builds character!
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Old 08-02-2011, 01:34 PM
 
6,241 posts, read 4,725,740 times
Reputation: 12780
I reviewed the financial planners and realized I needed to work until age 71 to 73 ....if I wanted to retire on Long Island. I also realized I could retire to a less costly part of the country at a much earlier age. I retired at 64. We sold the house and are living and travelling fulltime in an rv. We are spending a fraction of what we used to spend. I wish I had retired years ago.
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Old 08-02-2011, 01:36 PM
 
Location: California Mountains
1,448 posts, read 2,587,597 times
Reputation: 2334
I had always planned to put in no more than 30 years before calling it quit, and I did. That was 30 years with the same employer but 37 years altogether in the work force. I retired two months after turning 54, took a cut in pension, and never looked back. I'm certain I would not feel better had I stayed longer for financial purpose. If I stayed as long as most people do, I would still be working right now. Instead, together with my wife, I spent some great years living in Europe and we've been traveling to all corners of the world. My life became richer the day I received my last paycheck.
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Old 08-02-2011, 01:50 PM
 
23 posts, read 45,888 times
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Quote:
Originally Posted by jrkliny View Post
I reviewed the financial planners and realized I needed to work until age 71 to 73 ....if I wanted to retire on Long Island. I also realized I could retire to a less costly part of the country at a much earlier age. I retired at 64. We sold the house and are living and travelling fulltime in an rv. We are spending a fraction of what we used to spend. I wish I had retired years ago.
Give me another 18 months when I will turn 62 and I will see you on the road! Already have the (paid for) bumper pull toy hauler and the (paid for) Harley. Only debt is my truck to pull them with!
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Old 08-02-2011, 04:31 PM
 
491 posts, read 598,039 times
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Default Looong answer-you asked!

7 years ago I was visiting with my siblings. We have always gotten along well, 2 were married, one(me) divorced and one never married. Ony one of us had children(2) We got to talking about living near each other when we retired. We talked about where to do this and actually quickly agreed on an area(In the state we grew up in. Two siblings still lived in the state, but on the other side). Less than a year later my bachelor brother got transfered there.

Shortly after my vacation, my boss of 20 years started talking very seriously about retiring in the next couple of years. I was very bored there, but had stayed because they(my boss' family) had numerous medical emergencies and it was never the right time to leave. He had always been pretty good to me and I felt I owed him staying. The value of the house I owned had really escalated and housing was much cheaper in the town I intended to move to. That would really help me, as I would no longer have a house payment. Taxes were lower, which helped too.

I had always been frugal and a low need girl. My fibromyalgia, chronic fatigue, migraines and osteoarthritis were really taking a toll on me. It was soooo hard to get up and face the day on the nights I hadn't slept well. I really had worked since I was 9 and my mom went back to work and I cared for younger siblings, made supper etc.

The more I thought about it, I decided while I was young to retire(early 50's) I wanted some time to do things while I still could. I really had reached a wall as far as going to work, I just did not have the energy. So I did it. At first I found a part time job, but 2 years ago I quit that.

Another brother's job ended but he was able to sell his house-right before the housing crash. He and his wife moved here, he found a job that while paying less than his old, pays the bills and they seem happy. they had lived in a larger city with big commutes and this is a much smaller town.

The bachelor brother married and they just had a baby!!! He's 50 and she is 42! It has been sooo fun.

I do worry a little about money and feel I need to be pretty cautious, but it has been a real health improvement not to have the stress of work. So far it has been a great decision.
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Old 08-02-2011, 06:07 PM
 
624 posts, read 1,076,834 times
Reputation: 616
[quote=Charles in PGI;20287407]I had always planned to put in no more than 30 years before calling it quit, and I did. That was 30 years with the same employer but 37 years altogether in the work force. I retired two months after turning 54, took a cut in pension, and never looked back. I'm certain I would not feel better had I stayed longer for financial purpose. If I stayed as long as most people do, I would still be working right now. Instead, together with my wife, I spent some great years living in Europe and we've been traveling to all corners of the world. My life became richer the day I received my last paycheck.[/quote]

I also left at 28 years of working as a high school teacher. I asked some men that I respect and they asked me 2 questions: "Is your house in order $$$$? " "What do you like about your job?" I answered yes my house is in order and the only thing I liked about my job was the money and time off. I left. I backwashed the pool today, went golfing and am going to go coach 8th grade flag football in an hour. I read somewhere that when we are on our death bed; we will not say," Gosh, I wish I would have worked at my job longer!" I am feeling better everyday and am learning that money is not my god.
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Old 08-03-2011, 08:28 AM
 
28,237 posts, read 39,884,966 times
Reputation: 36742
Health problems. I was (Still am part time) a self-employed Computer Consultant. I loved my work (play, actually) and was not planning on retiring until Mrs. Tek did.

As luck would have it I contracted Shingles at the beginning of July, 2009. It started in my left eye, so by the time we figured out what it was it was well advanced. I thought I had a piece of something in the eye and kept trying to rinse it out. In fact, both eyes were irritated when it first started so it really did confuse me.

As it turned out I got to the point where my thought processes were pretty well screwed up and Mrs. Tek sat me down (three times before I "got it') and explained that I had to stop working. She was concerned that I would really mess up someones computer system, and I finally realized she was right.

It took a year and a half before my head finally cleared and I now feel like my thoughts are "in order".

If you are past 60 I heartily recommend you check into getting the vaccine for Shingles. It is one ugly disease. If you have problems from nerve pain ask your doctor about Gabapentin. It is an amazing medicine with few side effects. The only problem I had was irritability.

So here I am. Waiting for Mrs. Tek to retire so we can move on to the next phase of our lives together.
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Old 08-03-2011, 09:35 AM
 
Location: SW MO
23,605 posts, read 31,475,774 times
Reputation: 29071
Quote:
Originally Posted by Tek_Freek View Post
Health problems. I was (Still am part time) a self-employed Computer Consultant. I loved my work (play, actually) and was not planning on retiring until Mrs. Tek did.

As luck would have it I contracted Shingles at the beginning of July, 2009. It started in my left eye, so by the time we figured out what it was it was well advanced. I thought I had a piece of something in the eye and kept trying to rinse it out. In fact, both eyes were irritated when it first started so it really did confuse me.

As it turned out I got to the point where my thought processes were pretty well screwed up and Mrs. Tek sat me down (three times before I "got it') and explained that I had to stop working. She was concerned that I would really mess up someones computer system, and I finally realized she was right.

It took a year and a half before my head finally cleared and I now feel like my thoughts are "in order".

If you are past 60 I heartily recommend you check into getting the vaccine for Shingles. It is one ugly disease. If you have problems from nerve pain ask your doctor about Gabapentin. It is an amazing medicine with few side effects. The only problem I had was irritability.

So here I am. Waiting for Mrs. Tek to retire so we can move on to the next phase of our lives together.
Glad you're better. Tell her to hurry up. Had the shot last year as a precaution. Have to pass on the Gabapentin. I'm a curmudgeon. We're already irritable enough!
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Old 08-03-2011, 10:29 AM
 
15,149 posts, read 19,752,622 times
Reputation: 21319
My doctor advised that I get the Shingles Shot too -- and then he told me that it cost @ $250. From what I could find, Medicare and other insurance doesnt cover the cost.
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