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Old 02-03-2016, 08:08 AM
 
Location: Miraflores
787 posts, read 896,847 times
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Retired at 34 and began collecting SS at 62. Because i have young children my check is more than double what I would have been collecting. It covers our living expenses and so we do not have to touch the Wife's salary nor our investments. I plan to suspend my benefit at age 66 in order to max out my Wife's survivor benefits.
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Old 02-03-2016, 08:17 AM
 
Location: Wasilla, AK
7,301 posts, read 4,171,218 times
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We retired when I was 60 and wife was 58. Neither of us plan on taking SS until FRA as we simply don't need it right now. We don't know what the future holds, but the most likely scenario is one of us will outlive the other. Waiting until FRA or even later means the one who survives longer will have a larger income at that stage.
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Old 02-03-2016, 08:29 AM
 
Location: Florida -
8,767 posts, read 10,864,802 times
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Good input!

Two side issues on the same subject:
1). It seems that many 'retire' and then work part time for much less than they would have made by continuing to work (even part time) where they were. Isn't that really "Semi-retired?"

2). "Danger, danger Will Robinson!!" One is better to simply 'glance' at the possibility of early retirement, while keeping one's focus on the long haul. In my experience, 'focusing too much on the finish-line in the middle of the race, makes the race that much harder to finish!'
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Old 02-03-2016, 10:41 AM
 
Location: Bronx NY
43 posts, read 80,721 times
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Amen! Enjoy your leisure and pursue what makes you happiest my friend :-)
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Old 02-03-2016, 10:47 AM
 
Location: NW San Antonio
191 posts, read 242,856 times
Reputation: 179
Quote:
Originally Posted by alpineprince View Post
Retired at 34 and began collecting SS at 62. Because i have young children my check is more than double what I would have been collecting. It covers our living expenses and so we do not have to touch the Wife's salary nor our investments. I plan to suspend my benefit at age 66 in order to max out my Wife's survivor benefits.
Are you turning 66 in the next few months? Otherwise, when the new SS rules kick in if you suspend then nobody else can collect on your account either (spouse, children).
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Old 02-03-2016, 11:30 AM
 
Location: Idaho
1,456 posts, read 1,159,257 times
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I decided to take the VSI (voluntary separation incentive) a bit over 3 months ago at the age of 63. It was at least a year earlier than what I had planned. I still enjoyed my professional work and could have seen myself working longer to the age of 70 or older like some of my colleagues. Several of them retired at 65/66 but came back as either part time workers or consultants.

I can not say whether I enjoy being retired more or less than working. One thing I know for certain that I would not come back to my line of work. I consider it a closed chapter of my life. It I ever want to work, it will likely be either volunteer work or nominal pay work in a new field (as an apprentice if required).

I don't know when that I can feel 'relaxed' let alone 'bored'. I have been very busy in my 'retirement' and have 'worked' harder and longer hours (10+/day 7 days a week!). There are just so much backlogged tasks and new projects to do in taking care of the house, downsizing, fixing up the house to get it to marketable condition.

I notice with amusement that even in retirement when I am the ultimate boss of my work items and schedule, my daily priority order, sense of duty, obligation, guilty or satisfaction feeling etc have not changed much from my working days. There are still tasks which I rather do than others, tasks which I dread to do but get a lot of satisfaction from having completed them.

The main change which I noticed is my attitude and feeling regarding financial matters. I am much less affected by fluctuations in financial market numbers. I had ran the numbers before deciding to retire. I know that we have to dip into our cash reserves for few years and have the complete confidence that we will do just fine. While I was working, my job was relatively secured but the company quarterly financial reports always had an impact on the workers. There were always concerned about layoffs, a freeze on spending/purchases, a ban on travel, steadily reduction in benefits etc. You may be able to keep your morale up, but it is hard not to be affected by the morale of your co-workers and team mates.

One area significantly improved in my retirement is my quality time with my husband and our dog. They are now my team mates. My husband greatly enjoys my rediscovery of the joy of cooking. He heartily samples all the dishes and more than happy in helping me with domestic, 'semi-homesteading' chores like canning, pickling, making apple/pear sauces, baking etc. He even gets a kick in helping making homemade dishwashing detergent pods and finding that they really works! The dog is thrilled with the daily excursions exploring new hiking paths, trails. We recently discovered some hiking trails leading to a local drugstore and our auto mechanic shops. It is a lot more fun to walk through the woods, finding the trails through valleys and hills instead of hopping into the cars.

So in short, I have been very busy doing all kinds of household chores and tasks. I have also been living well: eat well, sleep well, get plenty of exercise (both before and after retirement). I am busier but a bit more relaxed and happier in my retirement.

Last edited by BellaDL; 02-03-2016 at 11:54 AM..
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Old 02-03-2016, 11:58 AM
 
14,267 posts, read 24,025,211 times
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I have been retired for 34 months and I am enjoying retirement a great deal.It is great to sit by the computer in the AM, listen to the radio, and drink coffee all AM when I feel like it.
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Old 02-04-2016, 10:10 AM
 
Location: Miraflores
787 posts, read 896,847 times
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Quote:
Originally Posted by grjr View Post
Are you turning 66 in the next few months? Otherwise, when the new SS rules kick in if you suspend then nobody else can collect on your account either (spouse, children).
I think you better check again.
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Old 02-04-2016, 10:21 AM
 
1,090 posts, read 1,967,439 times
Reputation: 386
How does one Retire at 34? Did you mean 54???




Quote:
Originally Posted by alpineprince View Post
Retired at 34 and began collecting SS at 62. Because i have young children my check is more than double what I would have been collecting. It covers our living expenses and so we do not have to touch the Wife's salary nor our investments. I plan to suspend my benefit at age 66 in order to max out my Wife's survivor benefits.
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Old 02-04-2016, 11:39 AM
 
Location: Real Texas.
12,604 posts, read 16,693,570 times
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I early retired from the Federal civil service the same day I turned 50 and have not regretted it all. That was 16 years ago.

Although I had sufficient work under SS to draw it, being a Federal retiree under the old CSRS system, I get very little SS. Any Medicare premiums I would choose to take would eat up nearly all of my monthly SS. However, I continued my Federal healthcare benefits into retirement so it becomes a tossup when no SS benefits beyond the mandatory but free Part A was elected.

We bought an inexpensive bank repoed farm with money I had saved while working then sold our few rentals to assist in its restoration. We still have an urban home with sufficient equity that we plan to sell unless the economy turns more sour than it now is.

Retirement is what one makes it. If you want to hop on a cruise ship every year, drive new cars or retire to a McMansion in a gated community, you probably should not follow my route. Luckily both my wife of many years and I have learned to seek more quality in life than quantity and we have no immediate plans to be dissatisfied in retirement. On the other hand, if we are ever able to unload our city home albatross, we will be able to hop on cruise ships and drive a few new cars for probably more years than we will be around. Not that we would ever do that.

But, as the old saying goes, "Sometimes man plans and God laughs."
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