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I retired at 62 from a job I loved everything about, including my co-workers. DH similarly enjoyed his work but also retired at 62, to the great shock of everyone he worked with.
Our motivation was the desire to take long, leisurely trips without having to worry about being back on a certain date. That's primarily how we spend our retirement and we enjoy it even more than we anticipated. We were absolutely sure we were ready, no ambiguity at all.
But had it not been for that desire to travel, we'd both probably still be happily working. It's hard for me to relate to vague reasons like "I would like to have more free time" (to do what?) and "I am just tired of getting up early and the long commute" (what would you replace those with? Sleeping in?) considering you're not unhappy at work.
My advice is to spend the next 18 months deciding what you would really like to do with all that free time. There's nothing wrong with sleeping in and hanging around the house in your PJ's, if that appeals to you more than working. Just be sure that you're not giving up a so-so working life for a so-so retirement.
Yes you are absolutely right, DH and I love to travel and the ability to travel without having to return quickly, being able to explore areas of interest are very important to us. My working life is good and we do quite a bit of traveling. However, I would love to have additional time to go somewhere without having to be back on a certain date.
What would you do when you retire? If it is going to be travel, then why not start in earnest while you are still working? If nothing else, you will enjoy the pleasure of knowing that you will be getting paid while on vacation.
Another thought: I personally believe that the best way to take vacations is to take multiple small vacations rather than one really long one. Couple of reasons. In a really long vacation, after a week or so, the routine again sets in and the newness factor and thrill of discovery largely diminishes. Days then start blending into the same.
But the most important reason is that we enjoy the anticipation of a vacation even more than the vacation itself. Imagine you are going to Cancun or Jamaica in 2 weeks. You would already be excited by it, right? Perhaps you would even be planning for it - reading up about the country, the culture, the food, the local language and dialect etc.
So consider taking a week long (which is really a 9 day vacation) vacation every 2 months. You already get a very generous 5 weeks vacation every year! I will humbly submit that you will have a far more pleasurable year. And who knows, you might even push off your retirement by another couple of years
What would you do when you retire? If it is going to be travel, then why not start in earnest while you are still working? If nothing else, you will enjoy the pleasure of knowing that you will be getting paid while on vacation.
Another thought: I personally believe that the best way to take vacations is to take multiple small vacations rather than one really long one. Couple of reasons. In a really long vacation, after a week or so, the routine again sets in and the newness factor and thrill of discovery largely diminishes. Days then start blending into the same.
But the most important reason is that we enjoy the anticipation of a vacation even more than the vacation itself. Imagine you are going to Cancun or Jamaica in 2 weeks. You would already be excited by it, right? Perhaps you would even be planning for it - reading up about the country, the culture, the food, the local language and dialect etc.
So consider taking a week long (which is really a 9 day vacation) vacation every 2 months. You already get a very generous 5 weeks vacation every year! I will humbly submit that you will have a far more pleasurable year. And who knows, you might even push off your retirement by another couple of years
That's what my wife and I did along with our children. We began our seriously travel escapades when I was in my late 30's. Then during a 15-year period, I bet we traveled aboard at least 10 times with some vacations lasting over 3 weeks. When the kiddos were gone, my wife and I traveled vagabond style and really enjoyed our catch-as-catch-can adventures.
Now my wife has health problems and traveling far is more challenging. For the most part, we got it out of our system but I'm so glad that we did it when we did. I talk to many clients who talk about the vacations they're going to take when they retire. Some do but many don't.
thanks for all the comments, just to reiterate DH and I do travel quite a bit now, given that I get 5 weeks of PTO a year. Some long trips, some weekend trips, others day trips. Lots of close extended family nearby and we live in Miami so lots of beaches. I don't anticipate spending my retirement lounging around in pjs (although I will do some of that). I'm hoping for long trips throughout the United States, visits to family, and some cruises! Thanks for all the great comments everyone!
I retired at age 60 because I could. I have never regretted it. If you have planned for retirement, and have healthy savings/investments, then I don't know why you shouldn't. If you don't have savings, you might postpone retirement until age 62, and meanwhile save and invest.
Also, since you will not be eligible for Medicare until age 65, you need to be totally sure you can get insurance for five years. If your present arrangement fall through, do you have plan B for obtaining insurance?
Does your DH use your insurance?
Do research on your options. Make sure you understand fully how your pension and insurance will work before deciding to retire. You have 18 months to decide, so you have plenty of time to do due diligence. Good luck!
I retired at age 60 because I could. I have never regretted it. If you have planned for retirement, and have healthy savings/investments, then I don't know why you shouldn't. If you don't have savings, you might postpone retirement until age 62, and meanwhile save and invest.
Also, since you will not be eligible for Medicare until age 65, you need to be totally sure you can get insurance for five years. If your present arrangement fall through, do you have plan B for obtaining insurance?
Does your DH use your insurance?
Do research on your options. Make sure you understand fully how your pension and insurance will work before deciding to retire. You have 18 months to decide, so you have plenty of time to do due diligence. Good luck!
Definitely yes! Retirees Who have been covered five years prior to retirement are eligible to continue their coverage into retirement after Medicare it then converts to the secondary policy with Medicare being the primary
I retired right as I hit 60. I have absolutely no regrets. I get up when I want to and my day is for me to do whatever I please. The older you get, the harder it will be to do some of the things you now take for granted.
Hi everyone, I am fairly new to this forum and find it very interesting and helpful regarding retirement issues. I am debating whether or not to retire in 18 months when I turn 60. I will have been at my present job for 30 years by then. I make a very good salary (close to $100K year) , excellent benefits, 5 weeks paid vacation/year.
I was desperate to retire about 6 months ago when things in my previous department were terrible. However, I am in a new position in a different department things, so far are pretty good. The only cons so far are a 2 hr round trip commute, having to wake up at 5 am to get here and the job is pretty boring.
I am thinking about retirement because I would like to have more free time, DH works from home, I feel like my entire day is spent in the office, but as I said my work is not stressful, I commute in a car pool so commuting costs are negligible, as are office clothes (casual permitted).
Sooooo, I guess I am just tired of waking up at 5 am daily, commuting round trip 2 hours, the job is boring, otherwise I don't have complaints. Either way, DH and I would have sufficient income to live in retirement.
I am second guessing myself because honestly this job pays very well, has excellent benefits and I would never in a million years find another like it. I would appreciate your thoughts and feedback about what made you decide to retire. I keep asking myself if I really have a valid reason to retire so young, when I am in good health and have it pretty good. Thanks for any responses.
Your situation sounds identical to mine and I decided to retire this year. Boring job, long commute, almost 2.45 hours round trip, get up at 5 am to take the van pool. No more. I like my sleep. The minute we get retiree insurance, we decided to pull the plug. I think long hours sitting in a van is bad for my health.
But I have things I want to do when I retire. Do you have any plan or anything to do when you retire.
My initial thought was you have all the bases covered, so you can retire at age 60. So go for it.
However, since you are married, you need to consider your spouse. The decision needs to be made together.
1) How old is your spouse?
2) Maybe you should work to the same age as your spouse. (both retire on their own birthday, everyone worked the same)
3) Perhaps everyone will be happier if they retire together, regardless of age.
4) Which partner has contributed the most to the retirement (savings, pension, etc.). The other may need to work/save to get closer to contributing the same.
I don't like one person retiring and the other working. But that is just me, your "team" needs to be honest how they feel.
Last edited by CSRSJim; 12-06-2015 at 06:19 AM..
Reason: Age 60
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