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Old 05-14-2015, 03:32 PM
 
Location: Murrieta, CA
1,274 posts, read 1,510,724 times
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Retired at 54 after working full time for 34 years. This happened nine months ago and this has been the best 9 months of my life! Work hard, save a lot, and retire young! There is so much more to life than working!
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Old 05-14-2015, 03:56 PM
 
Location: San Francisco
16,426 posts, read 5,363,471 times
Reputation: 51411
Took voluntary retirement at 60 when my company downsized, but continued to work part-time until i turned 62. Social Security would not have been nearly enough to cover living expenses, especially since I took it early. But Mr. Bay (who retired at 65) and I both have modest pensions and an income stream from investments that is more than adequate to meet our needs. I feel very fortunate because a lot of people in my age group are underemployed, still paying mortgages and/or don't have adequate savings.
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Old 05-14-2015, 08:36 PM
 
Location: Florida
5,270 posts, read 3,030,249 times
Reputation: 9611
I was 63.

Both the dog and the parrot died.

I made the last mortgage payment on the house.

I gave notice at work.

We are not high rollers, but our time is our own and that is a wonderful feeling.
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Old 05-14-2015, 09:50 PM
JRR
 
Location: Middle Tennessee
3,685 posts, read 2,231,690 times
Reputation: 5240
We called it quits last year. I was close to 65 and my wife was close to 64. No pension for either of us. She is drawing Social Security and I will file a restricted app for spousal benefits when I turn 66. When I start my full benefits at 70, we probably could live on just our Social Security if we had to. Barring some cataclysmic event in the financial markets (worse than even 2008), we should be fine with the additions of our IRAs.
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Old 05-15-2015, 05:10 AM
 
761 posts, read 639,846 times
Reputation: 2229
Quote:
Originally Posted by mathjak107 View Post
retiring at 62 in july
Congrats!

Sounds like you have planned right.
I want to go out next year at 63 after I figure out the health benefits part that I will have to pay for myself.
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Old 05-15-2015, 05:16 AM
 
71,779 posts, read 71,875,234 times
Reputation: 49345
it is killer , I am going on cobra at 6200 a year and my wife will be on medicare and medigap. we are looking at almost 12k in AFTER tax dollars
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Old 05-15-2015, 05:35 AM
 
5,825 posts, read 13,328,536 times
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Quote:
Originally Posted by stockproipi View Post
I see common denominators for people who were able to retire before the age of 65:

Goverment pension and healthcare

I wonder how many people can retire prior the age of 65 without them. Many people can live without pension using their savings but I guess many will have to work themselves to death to be able to afford healthcare insurance
We have several friends who have retiree healthcare paid for by their employer, others are teachers (in NJ) who have a better plan than the government retirees. I served 20+ years in the military and was deployed for 11.5 of them, I, like other veterans, gave up a lot to earn those benefits.
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Old 05-15-2015, 05:48 AM
 
761 posts, read 639,846 times
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Quote:
Originally Posted by mathjak107 View Post
it is killer , I am going on cobra at 6200 a year and my wife will be on medicare and medigap. we are looking at almost 12k in AFTER tax dollars
Financially, I am ready for the most part, but unlike those most fortunate to have health care for life, I will do the same as you, MJ. My sanity and peace will be worth the sacrifice until I hit age 65, I suppose.

The of lack decent, affordable health coverage is what scares most people (me included) and is a big deterrant for quite a few who would otherwise go out earlier. The out of pocket costs can be astronomical, unfortunately.
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Old 05-15-2015, 05:50 AM
 
Location: Over yonder a piece
3,913 posts, read 4,657,143 times
Reputation: 6247
Not retired yet, but my husband and I are about to finish refinancing the house with a new 15-yr mortgage, with plans to retire once it is paid off. I'll be ~60, he'll be ~63 (younger if we pay extra principal on the mortgage, which we usually do). Can't wait!
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Old 05-15-2015, 08:39 AM
 
Location: Western Colorado
11,103 posts, read 12,491,223 times
Reputation: 26207
I retired at 58 after 35 years in the same career. I get a fair retirement check and now at 63 1/2 getting social security too. I am comfortable, well fed, and happy.
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