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Old 02-11-2016, 10:06 AM
 
Location: City of the Angels
2,222 posts, read 1,670,996 times
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I always thought that retirement was more of a state of mind that meant that you want to go to work and not have to go to work.
If you like what your doing with your life and it's paying for itself, then you're doing what makes you happy means that you're leading a "no worry" type of lifestyle.
Unless you want to quantify the verbage and say that the income has to come from Social Security, pensions, IRA or 401k accounts.
JMHO
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Old 02-11-2016, 10:28 AM
 
Location: In a vehicle.
5,060 posts, read 3,233,000 times
Reputation: 8254
Quote:
Originally Posted by Just Conversation View Post
At Christmas a group of relatives was talking to my brother who retired in his late 50s. He had lost his job but got a huge severance check and decided after some thought that with savings and great investments he could afford to retire from full time work.

I don't know if it was jealousy or ignorance or whatever, most of the relatives in the discussion did not think it was right that someone would retire in their fifties. One older guy in his 70s, told him, "In my day, you were expected to work until age 65, then you can retire." Another person said, "But your still young, why would you want to just sit around the house all day at your age?"

What do you think about people who retire in their 50s?

My Mother had to quit work when her inner ear issue started causing her to fall down. 2 years later, she heard that a operation could be done to fix her issue. I then asked her what would she do after the issue was fixed?

"Go back to work!" Was her reply..she was 70 at that time.....

She grew up in the depression and this was in Farmington, NM and we're talking dirt poor then too.Back then, you worked till you died.
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Old 02-11-2016, 11:00 AM
 
6,901 posts, read 7,308,990 times
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Besides one's own stupidity, of course, life can also through a money wrench into one's plans. But in the examples given those people didn't shoot themselves in the foot by RETIRING. They ended up needing to go back to work at 70 because they:
-- didn't know HOW to MANAGE their money, buy out severance, or early retirement offer.
-- were foolish in how they spent it, or investing it (or NOT)
-- were foolish in their lifestyle choices

Anyone who retires -- say by 55 -- and buys a sailboat and just thinks they're going to travel the rest of their days and live off an early buyout offer…had better have a SEVEN figure buyout offer -- AND money in the bank besides that.
Quote:
Nothing wrong with not working if you don't have to, but usually you shoot yourself in the foot by doing so.

I know of 2 cases where relatively young people bought sailboats and retired to sail forever. Now they are 70 and because they have been gone so long and have no real assets there is no way to come back. Can you imagine coming back to America at age 70 with no Social Security to speak of, no savings, and no recent work history?
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Old 02-11-2016, 11:34 AM
 
Location: Forests of Maine
30,718 posts, read 49,520,236 times
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Quote:
Originally Posted by Just Conversation View Post
... Another person said, "But your still young, why would you want to just sit around the house all day at your age?"
My mother said that to me when I got my pension at 42. She seemed to be rather offended that I had gotten a pension, though we all knew that I was going to be getting a pension for a long time.

After I got my pension, I then spent the next couple years rehabbing an apartment building while foster-parenting a bunch of children. After 4 years of doing that, I bought some land, built a house and began farming. My mother never mentioned my pension again.



If you want a 20-year pension, then go into a combat career. If you survive for 20 years you get a small pension.
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Old 02-11-2016, 01:36 PM
 
1,985 posts, read 1,312,034 times
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I think the only people that say you are too young to retire, are those that can't retire young.
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Old 02-11-2016, 02:07 PM
 
Location: Murrieta, CA
1,274 posts, read 1,511,774 times
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Quote:
Originally Posted by dbsteel View Post
I think the only people that say you are too young to retire, are those that can't retire young.

This! I retired at 53 and gets lots of "hate" from those that want to retire but can't. I have heard "You are too young to be retired!" a few hundred times. Those are the nice comments, many more were hateful or jealous.


If you find a job you love you never work a day in your life. That was not me. 12-hour days were killing me and I am grateful every day I could escape. I keep my mouth shut and do volunteer work now. I never talk about how great being retired it because the hate and jealousy hits.


By keeping my mouth shut I now hear "I wish I could be retired like you."
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Old 02-11-2016, 05:10 PM
 
Location: Washington state
5,450 posts, read 2,774,465 times
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Technically I retired when I was 52. Of course, I had no money and it wasn't when I wanted, but.......So now I'm waiting on a disability decision and if that comes out negative, I will just retire in a couple years when I'm 62. I still won't have any money, but I'll have plenty to do. How anyone could get bored not working is beyond me. I have a million things I want to do and if I could afford it and had my health, there would be 2 million things I would want to do, none of them having anything to do with what I did for a living in my life.

I hated working for a living when I was 18 and I hated it up until I was forced to quit. I couldn't wait to retire when I was in my 20s and 30s. I didn't expect it to be in this way, but I can still remember how miserable I was in certain jobs and I'm glad I don't have to answer to the slave bell any longer. All I ever wanted was to work for a company I could be proud of working for, and a couple of them were, when I first started working for them. Then the management would change or a new CEO would take over and turn the company upside down, ruining it financially and in at least two of my jobs, losing it to a buyout.

One thing about living on pennies, if I choose to work part-time again, anything over $10/hr will look like a fortune. And now that I know I can survive on practically nothing, I'll feel a lot better about working, since I know I have the ability to take care of myself if I have to walk out on a job that might have turned to crap. Working because you want to and not because you have to makes a huge difference.
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Old 02-11-2016, 05:46 PM
 
636 posts, read 406,877 times
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Quote:
Originally Posted by Serious Conversation View Post
True, and your case is fairly exceptional, especially dealing with the spouse with cancer while mom is old and ill. Obviously in cases like this, you can't just go out do things the way someone without commitment does.

not uncommon. really
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Old 02-11-2016, 06:09 PM
 
6,347 posts, read 5,081,974 times
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Quote:
Originally Posted by vicky3vicky View Post
not uncommon. really
Hi vicky3

You know sometimes I come on here and read what everyone is doing and wonder "does no one have family problems"? Health or whatever. Now I can commiserate with that one lady that is really upset about her retirement being "ruined" by familial illness. Everyone seems to be out having a good old time.

I really don't have it that bad. I'm just feeling sorry for myself. I have a friend that has health issues herself, husband has dr appointments almost every single day. I don't know how she does it. She is usually in good spirits. Maybe I need to just be thankful for what I have and stop whining!
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Old 02-12-2016, 02:06 AM
 
Location: Texas Hill Country
9,843 posts, read 5,505,738 times
Reputation: 8390
Quote:
Originally Posted by Just Conversation View Post
At Christmas a group of relatives was talking to my brother who retired in his late 50s. He had lost his job but got a huge severance check and decided after some thought that with savings and great investments he could afford to retire from full time work.

I don't know if it was jealousy or ignorance or whatever, most of the relatives in the discussion did not think it was right that someone would retire in their fifties. One older guy in his 70s, told him, "In my day, you were expected to work until age 65, then you can retire." Another person said, "But your still young, why would you want to just sit around the house all day at your age?"

What do you think about people who retire in their 50s?

Well, if one can afford it, but of course, a lot of it depends on what kind of person one is.

A thing or two. When I was working on thesis, I still took classes even though I didn't need to. Why? It gave me stability to the day, a structure to the work I had to do in my research. Do we see each day with things that need to be done or do we get caught up in the rut of having forever and one can be very lazy (or worse) about things?

Secondly, can one handle all the free time even though their friends are not available during that time? Maybe so......it is a prospect I rather face as a night shift worker. It is something that one ought to consider when it comes to retirement.
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