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Old 04-05-2015, 10:37 PM
 
Location: San Antonio
7,629 posts, read 14,388,006 times
Reputation: 18712

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Retired at 60, almost 4 months ago to the day, NO complaints!!!! I am busier now than I EVER was working!!!!!
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Old 04-05-2015, 10:55 PM
 
Location: Retired in Malibu/La Quinta/Flagstaff
1,324 posts, read 1,330,697 times
Reputation: 4389
I retired at age 62.5. Forty years as a cop was enough.
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Old 04-05-2015, 10:55 PM
 
756 posts, read 624,637 times
Reputation: 884
Talking I Will Never Retire:

Quote:
Originally Posted by Vision67 View Post
I was surprised to discover that most people in most countries have retired by age 65.

Look here: Retirement - Wikipedia, the free encyclopedia

For example, in Germany, only 3% of 65 year olds are still working; in the USA it is 20%

If you have retired already, at what age did you retire?

As for me, I'm 65 now and will be 66 in December but I'm still reluctant to give it up.
My problem is that I like what I do. It keeps me busy and I'm paid well.

However, I'm now reading about friends who have died young and I'm beginning to think that I might regret not retiring earlier.

What are your thoughts?
I hope I will always be able to do some kind of job. I guess I am crazy.
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Old 04-06-2015, 12:16 AM
 
Location: Central Massachusetts
4,800 posts, read 4,855,118 times
Reputation: 6379
Quote:
Originally Posted by nicet4 View Post
If it were just me I might retire yesterday but it isn't just me.

By working four extra years, one of which is nearly gone now, my ss benefit will go up by $800/month and given my total retirement income all my ss benefit will be free of any state or federal income taxes.

Nobody here knows how much longer we have to live. I could drop dead tomorrow and so could you. Or I could live another 25 years, or even live to be 104 like my grandmother and 105 like my great grandmother, but we just don't know.

Some math for you. Yeah, I know you like this.

How much is $800/month tax free indexed to inflation for the next say 25 years? I want a guaranteed flat out $800 after taxes indexed to inflation for as long as I or my wife lives. I can get that by simply working a little more than three more years now and I would like to have an idea how much that is worth.

Unless I am not crunching the numbers right the opportunity for this much more money is simply to good to pass up.

Mathjak, how much do you figure that is worth? And no, I don't care about leaving any money behind because my kids are doing great; I am only worried about my wife and I.

I will answer for mathjak here. The math is simple 800x12x25=240,000.00
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Old 04-06-2015, 03:59 AM
 
71,778 posts, read 71,875,234 times
Reputation: 49331
no doubt working longer can be the silver bullet to retirement .

an almost 2x bigger ss check with colas

8 years of less life to fund if you work from 62-70

8 years of adding to savings

8 years of not spending down money from savings

8 years of compounding investments.

the real deal is it can be worth as much as 500k more in savings vs 62 .

the ony question is how much is it worth to you if you have that choice ? how badly do you need it ?

for us having that free time younger is more valuable so i am opting out at 62.

my lifetime goal was to retire nice and early while we were young enough to still do anything we wanted.
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Old 04-06-2015, 04:04 AM
 
Location: North Beach, MD on the Chesapeake
33,926 posts, read 42,185,115 times
Reputation: 43344
Y'all realize that the millennial contingent will soon arrive and start complaining that you old farts who are still working are clogging the system up for them. You're why they're unsuccessful.

I officially retire in June at 61. On long term leave now.
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Old 04-06-2015, 06:37 AM
 
Location: Virginia
8,121 posts, read 12,696,220 times
Reputation: 3771
I will be able to retire at 52 with an unreduced pension from the state. That provides 51% of my highest three years. The county has a supplemental system that provides an additional 25%, but i have to be at least 55 for it not to be reduced, so I'm thinking 55 it is!
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Old 04-06-2015, 06:47 AM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
Reputation: 32309
Quote:
Originally Posted by In_Correct View Post
I hope I will always be able to do some kind of job. I guess I am crazy.
I don't think you're crazy at all. You are just a minority among posters in the retirement forum.

Although I'm glad I retired from full time work ten years ago at age 61, I'm also glad I continued to do some part time work and special projects because I enjoyed that. (Now down to one five-week project per year, which I still love. When I stop loving it, I'll stop doing it.)

Working for pay gives us a sense of being useful, being needed, making a contribution, social interaction with our fellow beings (at least on most jobs), meeting mental and/or physical challenges (at least on many jobs).

Stick to your guns; no reason to be defensive about it.
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Old 04-06-2015, 06:55 AM
JRR
 
Location: Middle Tennessee
3,685 posts, read 2,231,690 times
Reputation: 5240
My wife and I retired last year; me at 64 1/2 and her at 63 1/2. Work was no longer enjoyable and we could handle it financially, so we did it. No regrets at all about having done it.
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Old 04-06-2015, 06:59 AM
 
Location: Over yonder a piece
3,913 posts, read 4,657,143 times
Reputation: 6247
My father retired a few years ago at age 66.
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