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Old 10-27-2011, 09:42 PM
 
Location: Prescott Valley,az summer/east valley Az winter
2,042 posts, read 3,626,278 times
Reputation: 7884

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retired at 61~ was one of those small businesspeople you read about that supply a lot of the jobs in this country. 2 brothers and I own a small construction company with sales in the $ 4M/ year range and employing about 20 workers. Ran a crew for years and was getting tired of it. Then made a call to wife " remember that retirement we were thinking of? Think I just did. Meet me at the hospital" After 6 months of rehab got almost full use of right hand. worked a little part time, then stopped doing even that and moved away. Lived on investments till started drawing SS at 65.

No, I couldn't live on just my $1050 SS, but do not need to.
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Old 10-27-2011, 09:47 PM
 
Location: Seaford, Delaware
3,471 posts, read 17,264,227 times
Reputation: 2625
I retired at 52. I got an early retirement deal from the insurance company I where worked. I took another job part time with my pension from the insurance comany and full benefits till 65. I will be 65 next year and will live on my pension and SS and have medicare. I have not had to touch my investments and the house is paid for. After years of saving and investing and buying used cars we are about to buy a new car. I just have to talk my wife into the red Camaro Convertable. She wants a Caddy. Should we do both?
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Old 10-27-2011, 10:15 PM
 
Location: California
454 posts, read 600,788 times
Reputation: 982
Retired 6 years ago at age 62.. took the early SS pension and also get a pension from the University I worked for 18 years. After working a total of 45 years, I knew it was time to let go... I simply could not continue even though I enjoyed my job at the U. My monthly income is only $200 less than when I was an employed person, so while I kind of "shoestring budget" I am deeply content, relaxed, feel greatly blessed and enjoying my senior years
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Old 10-27-2011, 10:56 PM
 
Location: Whereever we have our RV parked
8,761 posts, read 7,689,871 times
Reputation: 14963
My attitude has been different than most. No govt. job so no retire at 55 with full benefits and full salary like my police officer brother. I've changed careers, moved many times so neither my wife and I have a substantial pension fund anywhere, which is Ok with us. Her mom didn't retire till she was 70, her dad worked till he was 90. My dad worked until he was almost dead at 72. Personally, I'd prefer to keep working. I'm 58, plenty of energy, very healthy, very few medical problems and same for my wife. We both admit we'd get bored real fast with retirement. We still have enough freedom and money to travel when we want. We don't have to worry about money. Its nice to still have people appreciate the work you do, reward your hard work etc. Besides, there are numerous studies that indicate that the longer you work, the more likely you are to remain healthy, and live longer. It was certainly true in our families.

Besides all that, there are all kinds of stories about underfunded pension funds in govt. and the private sector. I don't see how all these govt. units can continue to pay people to work 30 years and then pay them the same amount with health care for another 30 years or so. Something has to give someday. I don't see how a prosperous society can continue to pay so many potentially productive people these big pensions. If we keep this up, we could well end up like Greece.
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Old 10-28-2011, 04:32 AM
 
Location: Prospect, KY
5,288 posts, read 17,950,172 times
Reputation: 6544
Quote:
Originally Posted by Prairieparson View Post
Besides all that, there are all kinds of stories about underfunded pension funds in govt. and the private sector. I don't see how all these govt. units can continue to pay people to work 30 years and then pay them the same amount with health care for another 30 years or so. Something has to give someday. I don't see how a prosperous society can continue to pay so many potentially productive people these big pensions. If we keep this up, we could well end up like Greece.
My husband was a Los Angeles Police Office for 34 years - his pension is always between 97 and 100% funded. New officers are not getting the same kind of pension - greatly reduced benefits.
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Old 10-28-2011, 08:04 AM
 
491 posts, read 597,769 times
Reputation: 2095
No pension, No health benefits here. What was in my Keogh after 20 years was the equivelent to 2.5 years of salary. Fortunately I lived very frugal and had some money in IRAs and savings otherwise the health issues would have made for a very bleak future. Since I am used to being frugal it is not so bad.
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Old 10-28-2011, 10:29 AM
 
Location: 112 Ocean Avenue
5,706 posts, read 8,125,235 times
Reputation: 8886
Quote:
Originally Posted by Prairieparson View Post

I don't see how all these govt. units can continue to pay people to work 30 years and then pay them the same amount with health care for another 30 years or so.
They can't and they won't.
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Old 10-28-2011, 11:10 AM
 
Location: The Triad (NC)
28,484 posts, read 62,084,629 times
Reputation: 32131
"Be not afraid of retirement: some are born retired, some achieve retirement and some have retirement thrust upon them". - (Quote Act II, Scene V; paraphrased).
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Old 10-28-2011, 04:36 PM
 
8,179 posts, read 11,900,573 times
Reputation: 17902
Quote:
Originally Posted by Prairieparson View Post
We both admit we'd get bored real fast with retirement. We still have enough freedom and money to travel when we want. We don't have to worry about money.
Then you must not want to travel much. By the time this calendar year comes to an end, I will have spent three months of it traveling internationally. In fact, I am posting this from my hotel room in Barcelona. I don't think that there is any question that staying employed and traveling extensively is incompatible. My love of travel is the reason that I retired when I did.

With so much more of the world to explore, I don't foresee boredom ever becoming an issue for me.
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Old 10-28-2011, 05:27 PM
 
Location: Oklahoma
6 posts, read 8,959 times
Reputation: 11
I Was 32 am a disabled veteran with PTSD and other ailments,I have enjoyed retirement ( medically) so far,the government pays me plenty with VA comp and SSDI free medical and other bennies.when I tell people I'm retired I don't think they believe me cause I'm so young.
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