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Old 01-05-2016, 03:24 PM
 
Location: Eastern Oregon
983 posts, read 761,385 times
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Okay. Sure. 62 being the age when we can start drawing social security payments (assuming the system is still working then!).

What are we before then - just not working? I definitely do not consider myself unemployed.

I know many people who have retired before the age of 62. Maybe because if we are wise, we do not rely on the social security system for our financial well being when we are older.
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Old 01-05-2016, 03:25 PM
 
7,801 posts, read 4,387,974 times
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(smacking head) Well, if you don't need any visible means of outside support in order to survive, I guess that would be "financially independent." There's also "being kept," in some cases, I suppose.
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Old 01-05-2016, 03:36 PM
 
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Best to tell the boss I will retire years from now , as there is nothing to do but go down hill ....
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Old 01-05-2016, 03:39 PM
 
7,801 posts, read 4,387,974 times
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That's another thing; why are most people so coy about admitting -- esp. to bosses and coworkers -- that they plan to retire... Doesn't everyone?
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Old 01-05-2016, 03:40 PM
 
1,039 posts, read 775,324 times
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Quote:
Originally Posted by Gabbythecat View Post
Okay. Sure. 62 being the age when we can start drawing social security payments (assuming the system is still working then!).

What are we before then - just not working? I definitely do not consider myself unemployed.

I know many people who have retired before the age of 62. Maybe because if we are wise, we do not rely on the social security system for our financial well being when we are older.
I have enough money to retire. But I would be working even harder on managing investments, buying rental properties, maybe doing AiRBnB.

The min amount of money to live a basic lifestyle to retire at 50 is five million.
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Old 01-05-2016, 03:50 PM
 
Location: Eastern Oregon
983 posts, read 761,385 times
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Quote:
Originally Posted by DelightfulNYC View Post
I have enough money to retire. But I would be working even harder on managing investments, buying rental properties, maybe doing AiRBnB.

The min amount of money to live a basic lifestyle to retire at 50 is five million.
Probably depends on how you define "basic lifestyle" and also the area of the country you are in.

Last edited by Gabbythecat; 01-05-2016 at 05:05 PM..
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Old 01-05-2016, 04:38 PM
 
Location: Virginia
8,114 posts, read 12,684,219 times
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In a few years I will seriously start running the numbers. Most likely I will retire at 55 (that's my absolute target right now), but I will be eligible for unreduced state pension a few years earlier. The difference between 52 (unreduced state and reduced county) and 55 (both unreduced) will most likely make it worthwhile staying the extra few years. Still, not too far off of age 50. Either way I could always retire and do something part time. Does that still count as "retired"?
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Old 01-05-2016, 07:26 PM
 
Location: Amongst the AZ Cactus
7,074 posts, read 4,922,801 times
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Quote:
Originally Posted by DelightfulNYC View Post
I consider 50 year old's who don't work unemployed not retired. I guess anyone under 62 is just unemployed not retired.
What do you label someone who's over 62 and still working?.......over ripe for retirement?

Sounds like you are basing 62 as the magic retirement age and anyone who retires before 62 is "unemployed" and not retired. I think the classic definition of retirement says something different:

Retired | Definition of Retired by Merriam-Webster

"not working anymore : having ended your working or professional career"

"withdrawn from one's position or occupation : having concluded one's working or professional career"

There is no age criteria to the definition of retirement. And while I understand the vast majority of people under 50 don't/can't retire, more than a few have, some post on this forum, including ourselves who retired in our 40's by choice/planning, and do indeed consider ourselves retired, fitting the classic definition of retirement.
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Old 01-05-2016, 08:39 PM
 
1,440 posts, read 722,775 times
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Quote:
Originally Posted by DelightfulNYC View Post
I have enough money to retire. But I would be working even harder on managing investments, buying rental properties, maybe doing AiRBnB.

The min amount of money to live a basic lifestyle to retire at 50 is five million.


Not necessarily if one is fortunate enough to have a defined benefit pension, esp. a state or government one.
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Old 01-05-2016, 08:46 PM
 
Location: North West Arkansas (zone 6b)
2,672 posts, read 2,012,094 times
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Quote:
Originally Posted by DelightfulNYC View Post
I consider 50 year old's who don't work unemployed not retired. I guess anyone under 62 is just unemployed not retired.
When I retired at 48, I didn't like to call myself retired because I felt people would look at me and think that I must be loaded to be retired.

In truth, my wife was working and we were a 1 income family. I simply told people that I was between jobs. it was much easier for other people to accept.
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