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Old 10-27-2011, 09:41 AM
 
Location: High Cotton
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I retired at age 55 seven years ago. I should have (and could have) retired many years earlier, but just thought I was too young to do so. I regret not retiring earlier because I have thoroughly enjoyed being retired to the fullest. I'm very fortunate that money is not a problem - I receive an excess amount of income from dividends and interest alone and will never have to touch principal, allowing net worth to continue to grow, which is already being gifted to family members and donated for worthy causes. I don't plan on collecting SS until age 70. My only real concern is that my family members and I remain in good health and are happy.
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Old 10-27-2011, 10:06 AM
 
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I agree, Escort Rider, I am shocked and very surprised by all of the early retirements in this thread, including so many who retired at 55 and 52 and 58, and also so many retiring in their very early 60's.

I did see a statistic recently that said, I think, that either 40 percent or 60 percent of people opting to take social security monthly payments these days are age 62 rather than waiting for the full retirement allotment per month from social security. (I need to look up the exact percentage)
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Old 10-27-2011, 04:04 PM
 
176 posts, read 282,348 times
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Quote:
Originally Posted by Escort Rider View Post
I note with some suprise how few people thus far have posted that they retired in their mid-sixties or later. When I retired at age 61 I felt very fortunate, and even a bit guilty, to be able to retire so young...
I'm only in my early 40s and when I read about people retiring in their 50s or even younger it makes me scratch my head. I don't see how we can have so many people (Baby Boomers) retiring so young and then collecting and/or cashing in for 30 or 40 years.

The goods and services needed in society have to be produced by people; something long term here is just not going to add up. We cannot have a society where people age to 22-25 years in school and college and then work for 25 or 30 years and then not work again for 25-40 years. Humans are living too long for that and are only going to live longer due to medical advances.

Anyway, I'm not meaning to put a guilt trip on anybody but longer term there may be a lot of money printing and inflation to "meet" these retirement obligations that are on paper.
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Old 10-27-2011, 05:59 PM
 
Location: Forests of Maine
30,682 posts, read 49,455,573 times
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Quote:
Originally Posted by df175 View Post
I'm only in my early 40s and when I read about people retiring in their 50s or even younger it makes me scratch my head. I don't see how we can have so many people (Baby Boomers) retiring so young and then collecting and/or cashing in for 30 or 40 years.

The goods and services needed in society have to be produced by people; something long term here is just not going to add up. We cannot have a society where people age to 22-25 years in school and college and then work for 25 or 30 years and then not work again for 25-40 years. Humans are living too long for that and are only going to live longer due to medical advances.
From my career field the average pensioner receives paychecks for less than 5 years. By having lived 10-years past my retirement date I have already doubled my retired life expectancy.

I have four combat related disabilities. Any of them could flair up and leave me wheelchair bound. For now I still get around. I grow veggies and sell them to a buyers club, I try to continue contributing to society as much as I can.

Some careers by their very nature have high rates of disability. They are jobs that are well suited to the young; the walking-wounded elderly appear at a much younger ages then as compared to their civilian counterparts.
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Old 10-27-2011, 07:01 PM
 
Location: SW MO
23,605 posts, read 31,487,261 times
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Quote:
Originally Posted by df175 View Post
I'm only in my early 40s and when I read about people retiring in their 50s or even younger it makes me scratch my head. I don't see how we can have so many people (Baby Boomers) retiring so young and then collecting and/or cashing in for 30 or 40 years.

The goods and services needed in society have to be produced by people; something long term here is just not going to add up. We cannot have a society where people age to 22-25 years in school and college and then work for 25 or 30 years and then not work again for 25-40 years. Humans are living too long for that and are only going to live longer due to medical advances.

Anyway, I'm not meaning to put a guilt trip on anybody but longer term there may be a lot of money printing and inflation to "meet" these retirement obligations that are on paper.
Ahhh! Go ahead and guilt me. Worked for about 45 years total and retired at 62. Have no illusions about living much more than 25 years past retirement, if that. But they'll be some mighty fine, peaceful years and I'll try very hard to feel bad about them. I promise.

Different generations experience different things, both good and bad. It's likely always been that way and likely always will. So far, all my children are doing fine, they and or their spouses are employed and I can't ask for more than that.
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Old 10-27-2011, 07:22 PM
 
4,481 posts, read 4,743,979 times
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Quote:
Originally Posted by Escort Rider View Post
I note with some suprise how few people thus far have posted that they retired in their mid-sixties or later. When I retired at age 61 I felt very fortunate, and even a bit guilty, to be able to retire so young. Going back 20 or more years, a lot of people considered 65 to be the "normal" retirement age, probably because 65 was the Social Security full retirement age for that generation.

Of course I realize that many of the "early" retirements posters have described here were not voluntary (job loss, disability, etc.). And of course our little sampling here is far from scientific, but still I'm wondering where the people are who retired at 65, 66, or later.

Yes, I find that interesting too.

Also, how many of those retired/retiring early would have been able to do it at that same age if they were single and not had a second income to save part of for retirement? I wonder if that would have changed the decision for some.
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Old 10-27-2011, 07:36 PM
 
Location: Forests of Maine
30,682 posts, read 49,455,573 times
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Originally Posted by brava4 View Post
Yes, I find that interesting too.

Also, how many of those retired/retiring early would have been able to do it at that same age if they were single and not had a second income to save part of for retirement? I wonder if that would have changed the decision for some.
My Dw did not work when I was in my career. We were a single income family. Our portfolio earned a little, but not much, and it was always re-invested.

When I retired, she was excited because then she could begin a career of her own. Moving so often is seen as discouragement from spouses having a career.

She tried holding p/t jobs a couple times, at different duty stations, but the economics never worked out. It often costs more than what you can earn. [two commuting workers, wardrobe, nobody at home cooking / cleaning / budgeting, plus day care]
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Old 10-27-2011, 07:55 PM
 
Location: Washington County, ME
1,549 posts, read 2,390,824 times
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I dont feel any kind of "guilt" about retiring early, either. I worked at a job where i stood up on my feet the whole time. Plus i worked from age 16 to 48, aside from going to college - at which time i still worked part-time.

I didnt have a second income coming in since 1989, so i pretty much did it all on my own. My pension is VERY small, because the postal service cuts back your pension when you get social security. I also get money taken from it for my health care, and money taken from the social security toward Medicare. That all adds to about $300/month just for that.

I just live frugally, and try to only spend where i need to. It's hard for me to live in NJ, becuz the property taxes and auto insurance are outrageous, so i'm trying to sell my house and move.

(I also am surprised - and happy - about how many in this thread have retired reasonably early)
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Old 10-27-2011, 08:05 PM
 
Location: Out there somewhere...a traveling man.
39,547 posts, read 47,744,756 times
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Well I retired at 62, never felt sorry or stupid to do so. I put in 50 years of hard work. Started at the age of 12 in a family owned factory, ran a punch press, then graduated to other machinery. Throught the years invested in my future. At age 60 got a shoulder disability. Worked for awhile in retail sales, then at 62 was qualified to retire. Have enough investment, according to our finacial advisor, to live comfortably til mid 90's. I feel blessed and not regreting a moment of it.
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Old 10-27-2011, 08:34 PM
 
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brava4, I retired at 62 and did not have a second income from a spouse to affect the decision.

I, too, am wondering where the posters are that retired at 65 or 66 or later. Certainly not begrudging anyone their retirement, just wondering.

The human body gives out for a good number of people after decades of full-time work, especially for those doing physical labor.
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