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Yes, I retired when I was 55. I worked at a tech company and was laid off. I was so burned out, I decided to retire. Not working the past five years has been wonderful. Don't miss it at all.
Yes, I retired when I was 55. I worked at a tech company and was laid off. I was so burned out, I decided to retire. Not working the past five years has been wonderful. Don't miss it at all.
55 is my target age to retire. Did you get a pension and 401k?
Retired one year ago(52) , yes I have a pension and I do have some in a 401K as well ...... Moved to a lower cost area , bought a home with cash to lower costs .... So far so good
I quit a full time job at 52 and worked 3 more years part time. Stopped working part time 4 years ago. I have some health issues and working and being on my feet and using my hands all day long really bothered me.
I have no pension, but do have a keogh and Ira's. This year I can tap into them without penalty.. 7 years ago my job ended and I was able to move to be closer to siblings, which has been a good decision. I guess it is a lower cost area, as I was able to buy about the same size house for cash from what I made on my other house. Otherwise I see things costing about the same, or a little more, altho after 7 years it is hard to know. I am happy with my decision, altho I wish I was healthier.
55 is my target age to retire. Did you get a pension and 401k?
Yes, I had a small pension that I cashed out and put in an IRA and I had been saving the max in my 401K with some matching funds from the company I worked for. In the end, it wasn't a huge amount of money (about $400K), but we're really frugal and have kept our expenses pretty low. So, for the past five years I've lived on unemployment insurance, severance pay, emergency savings, money from sale of second car and some antiques/collectibles, sale of some stock options, and we've used a bit of the IRA. I year and three quarters left before I can collect social security, which will cover 75% of our expenses.
It hasn't been a perfect situation by any means, but I was done. I have zero desire to work again. I'd much rather work at being frugal and spending as little as possible. I actually find that to be a fun challenge. It helps that I like to cook and bake, so make everything from scratch.
One thing I did get as a retirement benefit from the company I worked for was health insurance coverage, which is still what I think is very expensive (about $650 per month premium), but at least we have pretty good coverage. No dental though. The only thing that is concerning is that the premium has gone from $230 per month to $650 in five years time and I have almost five years before medicare age. So, hate to think what those premiums will be by then. Health care expenses are out of control in this country and the number one worry I have in retirement. Seems to be a huge problem for most people. I was talking to my neighbor who is my age and she said she doesn't have health insurance. She is retired and I don't know her financial situation, but it has to be really scary to be uninsured.
Yes, I retired when I was 55. I worked at a tech company and was laid off. I was so burned out, I decided to retire. Not working the past five years has been wonderful. Don't miss it at all.
I'm 5yrs into retirement as well but bored out of my mind at this point .Dont miss the job per se but really miss the social dynamics of the work place..
I'm 5yrs into retirement as well but bored out of my mind at this point .Dont miss the job per se but really miss the social dynamics of the work place..
Nine years later...has retirement improved for you???
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