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Old 09-19-2011, 12:31 AM
 
391 posts, read 664,504 times
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Good post and some great responses.

I am still figuring that out.

My wife and I are both doers. Sounds bad but I now realize I'd rather build a deck than go golfing. We have a place in AZ and just went down. I loved it but I hardly left the house other than to buy parts to do more work in the house and I enjoyed that.

I retired once and it was stress free. I liked it (retired at 49). But then I started a business and I like that.

People say "retire so you can do what you want to do". My experience is that I only want to do something for a few years then I want something else! I don't like golf anymore so what can I do?

I'm now 55 and I'm struggling with retirement. I'm not a money person so I can live down to just about any level of income so I'd be OK financially retiring but to what end? Then I see buddies dying off and I wonder what I'm working so hard for.

So......you were looking for answers but I just butted in with a whole bunch of my own struggles. Sorry about that
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Old 09-19-2011, 01:36 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,628 posts, read 39,998,659 times
Reputation: 23785
Quote:
My wife and I are both doers.


me too!

Retire when you need a change of pace from 'Having-to-go-2-work'. OR ...your employer pays you to leave, and you have better things to do with your time.
... Critical mass helps too... "Reaching critical mass gives you the financial freedom to retire or work at a job for the love of the work rather than the money!" Bob Brinker Fan Club Blog: Critical Mass for Investors: Definition of Term

Heck my kids seemed to 'retire' in High school ! (I vicariously lived my 'retirement dream' through them. When they headed to college I got a serious urge to 'retire', it took about 3 yrs to get the best 'severance' option including 2 yrs paid college.

I enjoy learning, working, teaching... AND I like to have 'mad-money' for travel. I too need frequent change (thus I prefer working 2-3 jobs for the variety rather than one). I had 26 different managers and 14 different positions in my 32 yr career. I always availed myself to 'backfill for others' and especially was fond of working overseas with nationals, to resolve a company crisis (family came too, we had a great time !!)

I envision 'retiring' MANY times (since I left work @ age 49) BUT I should have left employment at age 35 while homeschooling kids.

My first retirement @ age 49 was the LAST time I plan to be REQUIRED to work

I have a varied skill set that allows me to pick up extra work / income as needed / desired (but not NEARLY the wages I left behind).

FREE healthcare coverage would be nice, so PT jobs w/ HC benefits are attractive at the moment. (that option will be gone with Obamacare, thus I will be GONE too). Hello to a new country for 10-15 yrs...Working Extra Jobs for Health Insurance Coverage - ABC News
Companies That Give Benefits to Part-Timers - Careers Articles

other ideas...
The New Best Jobs for Retirees - SmartMoney.com
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Old 09-19-2011, 06:41 AM
 
Location: Forests of Maine
30,687 posts, read 49,476,475 times
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I was forced out of my career onto pension due to my advancing age [according to my employers 'High-Year-Tenure' policy]. So I had no option but to accept the pension when I was 42.

My employer provides health coverage for me and will until I die.

I could have began a second career at that age, though I have many interests. Being retired has allowed me to pursue other varied interests.

I knew about my employer's 'High-Year-Tenure' policy, so I was able to plan for it. During my career, we lived very frugally and invested a lot. When I retired I was able to cash-out my portfolio and buy a tract of land; where we are building a farm.
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Old 09-19-2011, 06:50 AM
 
29,784 posts, read 34,885,423 times
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Quote:
Originally Posted by greatspark View Post
HOW DO YOU KNOW WHEN IT IS A GOOD TIME TO RETIRE?? Age? Health? Money? Job?
If you don't know if you have reached that time it is probably best that you don't unless forced to. Being ready involves so much and with so much uncertain today that you can't control it might be best to stay with the known you can control.
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Old 09-19-2011, 07:01 AM
 
Location: SW MO
23,605 posts, read 31,502,154 times
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Quote:
Originally Posted by PawleysDude View Post
...When all that feels good, take the leap and never, never second guess yourself. Good luck!
One of the greater truisms. When the urge to retire became almost overwhelming I just did it, as had my wife several years earlier. Neither of us has had a moment of regret since and that, to me, is a key component of the decision-making process.
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Old 09-19-2011, 09:13 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,079 posts, read 19,036,218 times
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Quote:
Originally Posted by TuborgP View Post
If you don't know if you have reached that time it is probably best that you don't unless forced to. Being ready involves so much and with so much uncertain today that you can't control it might be best to stay with the known you can control.
With all due respect, I couldn't disagree more strongly with this opinion. Living life on my own terms, doing what I chose to do with my limited years on earth is ALL about planning. Nothing is guaranteed, and sometimes plans and expectations have to be adapted. In the cold light of reality, we aren't really controlling most of what we think we control - not the value of our homes, our investments, our job security, our health, the health and well being of our families, and certainly not our national economy or national safety.

But to live my life in fear of the "what ifs" - no thanks.
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Old 09-19-2011, 09:40 AM
 
Location: SoCal
6,074 posts, read 9,538,346 times
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I don't imagine that one ever *knows* for certain. It's important to plan financially, as best one can. And also to plan socially/mentally. And then be aware that it all may change around you. After all that's in place, pick a date ...
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Old 09-19-2011, 01:27 PM
 
Location: Toronto, Ottawa Valley & Dunedin FL
1,409 posts, read 2,356,377 times
Reputation: 1159
Quote:
Originally Posted by Jkgourmet View Post
100% agreement on both the prior posts.

In regard to health insurance for those like me who were financially able to retire before Medicare age: the single, largest limitation and frustration of my life is obtaining health insurance. With pre-existing conditions, it is a nightmare. It determines exactly where we live - which state has a high risk pool (damn few). Which state will allow me in their high risk group (even fewer). What other countries can we move to for my healthcare for the next ten years until I reach 65? And that last sentence is one of the saddest statements this proud American citizen has ever spoken.
That is very sad. We're very lucky here in Canada--our system's not perfect, but it's here for us. And I personally am lucky to have out-of-country insurance as well, as part of my husband's retirement--that will save us substantially because we plan on wintering in Florida, and may in fact allow us to be snowbirds for more years--many Canadians stop snowbirding when pre-existing conditions prevents their getting good insurance.
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Old 09-19-2011, 01:31 PM
 
Location: Toronto, Ottawa Valley & Dunedin FL
1,409 posts, read 2,356,377 times
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As for the OP's question, I guess I knew I was ready when I couldn't bear the thought of finding another job after I was laid off in 2008. I had an executive-level IT position, and definitely wanted that paycheque for another few years, but really couldn't bear to do that kind of work any more.

On the other hand, my husband, who's been retired for a mere 2.5 months, decided when he was offered a very good payout package. He then spent half the summer at the cottage. He's back working on contract for a few weeks, but he said that he really now feels retired, and doesn't really want to be working.
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Old 09-19-2011, 02:08 PM
 
Location: Los Angeles area
14,018 posts, read 17,751,136 times
Reputation: 32309
Quote:
Originally Posted by Jkgourmet View Post
With all due respect, I couldn't disagree more strongly with this opinion. Living life on my own terms, doing what I chose to do with my limited years on earth is ALL about planning. Nothing is guaranteed, and sometimes plans and expectations have to be adapted. In the cold light of reality, we aren't really controlling most of what we think we control - not the value of our homes, our investments, our job security, our health, the health and well being of our families, and certainly not our national economy or national safety.

But to live my life in fear of the "what ifs" - no thanks.
Except for your first sentence, I cannot argue with what you stated. But I think you mis-interpreted the poster to whom you were responding (TuborgP). As I read both his post and yours, I don't see the two of you saying anything very much different. TuborgP was talking about being really emotionally, i.e., deep down - having a conviction that the time is right to retire. Aren't you saying almost the same thing?
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