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Old 04-06-2015, 07:43 AM
 
Location: Bend Or.
1,126 posts, read 2,460,554 times
Reputation: 948

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I retire in 53 days, at 62. We have dozens of hobbies and projects that we just have had no time to do. We are financially in good shape so there is no longer a reason to work, our personal activities will be more fun. It is time for every day to be Saturday.
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Old 04-06-2015, 08:33 AM
 
Location: Western Colorado
11,102 posts, read 12,488,322 times
Reputation: 26202
I retired at 58. After 35 years I couldn't wait to sign the papers and go fishing.
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Old 04-06-2015, 08:37 AM
 
Location: MA
1,623 posts, read 1,340,925 times
Reputation: 3017
Retired age 43......
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Old 04-06-2015, 08:51 AM
 
Location: Central Massachusetts
4,800 posts, read 4,853,880 times
Reputation: 6379
Scheduled at the moment, made the non-selected to be retained list in the military, to retire at age 58 in September. I was hoping for two more years but alas it will not be. I might get a 12 month extension but that will be the last of it.
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Old 04-06-2015, 08:58 AM
 
Location: Loudon, TN
5,798 posts, read 4,848,703 times
Reputation: 19509
My hubby retired at 56 when CA was forcing state employees to take unpaid furlough three days a month. That amounted to a 15% pay cut for him. After taking out that 15%, plus taxes and FICO he would bring home more in pension (34 yrs w/ the state) than he would working. So with the cost of commuting he was actually paying to work. When we did the math we cracked up. Who would continue under those circumstances? I was 51 at the time and my job was stressing me out. I had 25 yrs w/ my municipal job and knew that I would take a huge hit on my retirement by retiring at that age, but I was the higher earner anyway and, when we figured it out, our pensions would be about equal. If we moved to a lower COL area or downsized, we could easily get by on our pensions alone. So we both retired end of 2009. NO REGRETS whatsoever. We moved to TN and are loving life. We paid off a rental property, so our cash flow went up by the amount we were paying in mortgage on it. In 1.5 years DH will take SS and our income will go up again. I have a long wait for SS, but after I'm 62 could take it anytime we need to, or wait for a bigger check. So we're very happy with our decision.

To me it was a simple equation, do I want more money or more time? Time won that one easily.
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Old 04-06-2015, 08:59 AM
 
Location: SF Bay Area
1,424 posts, read 2,433,009 times
Reputation: 1776
I retired 10 years ago at age 52.
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Old 04-06-2015, 11:17 AM
 
Location: Virginia
8,121 posts, read 12,694,716 times
Reputation: 3771
Quote:
Originally Posted by TheShadow View Post
My hubby retired at 56 when CA was forcing state employees to take unpaid furlough three days a month. That amounted to a 15% pay cut for him. After taking out that 15%, plus taxes and FICO he would bring home more in pension (34 yrs w/ the state) than he would working. So with the cost of commuting he was actually paying to work. When we did the math we cracked up. Who would continue under those circumstances? I was 51 at the time and my job was stressing me out. I had 25 yrs w/ my municipal job and knew that I would take a huge hit on my retirement by retiring at that age, but I was the higher earner anyway and, when we figured it out, our pensions would be about equal. If we moved to a lower COL area or downsized, we could easily get by on our pensions alone. So we both retired end of 2009. NO REGRETS whatsoever. We moved to TN and are loving life. We paid off a rental property, so our cash flow went up by the amount we were paying in mortgage on it. In 1.5 years DH will take SS and our income will go up again. I have a long wait for SS, but after I'm 62 could take it anytime we need to, or wait for a bigger check. So we're very happy with our decision.

To me it was a simple equation, do I want more money or more time? Time won that one easily.
This is what I'm figuring too. At 55 my wife and I can retire with about 75% of our salaries. If we are both making $100k at that time (just a guesstimate), why not downsize and/move to where that money will go further? That's not even counting money we have from the sale of our home should we go that route.
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Old 04-06-2015, 12:01 PM
 
130 posts, read 101,491 times
Reputation: 539
I retired a year ago this January at 64 1/2. With my sick leave, I had 22 years with the federal government. With 20 years in the military and work in the private industry, I figured working 46 years was enough. Although I enjoyed the people I worked with, I was wearing out at work; I was ready for retirement whether or not it was ready for me. By retiring at 64 1/2 and drawing SS, my Medicare automatically came out of my SS without any problem. Everything went very smoothly.

I have a cardboard box that keeps the sun off of me. What more could one ask for? Except my shopping cart needs new wheels.
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Old 04-06-2015, 12:22 PM
 
Location: NE Mississippi
13,689 posts, read 8,598,131 times
Reputation: 19949
65 and a few months.
Retired at the end of 2010.
Ours was a seamless, self funded retirement, with us spending the same amount after retirement as we did before.

Working out and implementing that seamless retirement was one of my "cleverer" accomplishments. Most of our working life was spent self employed, and that is one thing I would not change.
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Old 04-06-2015, 12:39 PM
 
Location: SW MO
23,605 posts, read 31,506,246 times
Reputation: 29081
My wife retired at 54 for mental health reasons. I retired at 62 because I hit a wall and didn't enjoy working any longer. I'm glad we both got out. I ended up getting hit with a neurological disorder at age 66 and my wife with an autoimmune disorder at 65. Thankfully we both had some good years in retirement beforehand and both appear to finally be on the mend, me at the near approach to 69 and her at 66. No regrets. Money isn't everything (cue: exploding heads). Quality of life is.
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