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Old 02-26-2016, 09:52 AM
 
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Quote:
Originally Posted by newcomputer View Post
Until I started reading this forum, I thought of retirement as aging out of work life. SS and Medicare start in the mid 60's for that reason. My father retired when he could no longer work. I never considered my mother retired because she died in the kitchen.


Yeah, I agree, I think of "retirement" as aging out of the work force. The infirmities of old age start to make their appearance, and your health become more and more problematic as you age further.

Came across a comment online-that once you reach your 50s, the warranty for your body expires. I'm 59, and I have arthritis in my knees; but I expect to work till at least 70. I wouldn't be surprised if some of my other joints turn arthritic before then.

Last edited by Tim Randal Walker; 02-26-2016 at 10:31 AM..
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Old 02-27-2016, 08:04 PM
 
Location: Gilbert, AZ
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Quote:
Originally Posted by mysticaltyger View Post
Actually, if you set your investment portfolio up to last 30 years, the amount you need for a 60 year portfolio is really only a tiny bit larger (or your withdrawal rate only a tiny bit smaller). If you just make small adjustments along the way (some side income here and there, reducing what you take out of your portfolio in bad years), you can make it work pretty easily. The math pencils out.
Well, we've had this discussion before.

Single people can do whatever they like. If their plan of "retiring" at 30 backfires they will have to figure things out somehow.

The thing that really is wrong, however, are the people who have kids. They are claiming they can have kids, a house, cars, vacations, etc... all on less than a poverty level income. It's not realistic, and it's not fair to the kids.

Last edited by hikernut; 02-27-2016 at 08:21 PM..
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Old 02-27-2016, 08:36 PM
 
Location: Forests of Maine
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Quote:
Originally Posted by Tim Randal Walker View Post
Yeah, I agree, I think of "retirement" as aging out of the work force. The infirmities of old age start to make their appearance, and your health become more and more problematic as you age further.

Came across a comment online-that once you reach your 50s, the warranty for your body expires. I'm 59, and I have arthritis in my knees; but I expect to work till at least 70. I wouldn't be surprised if some of my other joints turn arthritic before then.
In some career fields you age-out earlier than in others.

In my career they begin forcing people onto pensions after 20 years of service. If you started at 18, then you could be forced onto pension at 38. If you include college, then you are put out to pasture at 42. Which is what I did.

In a work center of mostly 18 to 24 year olds, a 30 year old is the 'old man'. Very rare to see anyone reach 38 without a list of disabilities.
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Old 02-28-2016, 12:30 PM
 
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As for retirement, I think of it as not working, not HAVING to work anymore, at whatever age, 40s or 60s.
For me the definition gets tricky if you're working AT ALL…such as SEMI-retired, PARTIALLY- retired.
If you're not working for PAY, then I'd say you're retired (fully retired)

-- My military relatives who "retired" from the military, and then worked will time in second careers were they retired? IMO, they were NOT.
Sure they left the military, but they wen't right into other full time careers…that ain't retired.

-- A married friend who was disability "retired" from a police department did NOT WORK for, oh I'd say 10 years or more. But now has a part time job. Oddly enough I sort of see him as still 'retired.' But I guess technically he's not retired anymore. Because again, IMO retired means not working AT ALL, for any reason….not for something to do, not for 'pocket change,' not for 'travel money.' etc. No paid work period. So he'd be semi-retired. He and his wife though do still say he's retired.

I would say I do tend to think of retirement as begin binary. Either you are or you're not.
Either you ARE working for pay, because you need the money -- or you're not. And even if your working and DON'T need the money, you're still working, (even if working part-time) and so therefore not retired.

Quote:
This subject has has struck a nerve with me lately because I have a 38-year-old friend who is planning to "retire" soon. He married at age 21 and his wife has been the breadwinner ever since. He has never had to learn how to support himself, let alone his 2 kids. Wife handles all finances. He always jumped around from low wage job to low wage job, until recently where he found a job that allows him to work from home and earn about $40k a year, while spending most of his work hours watching tv and playing video games.

But instead of counting his blessings for that easy job, he will quit soon. His wife was just offered a new position that puts her close to 6 figures so he is telling everyone that he can now "retire" and "take care of the house". They rent a townhouse. His wife is supportive of this. He has no goals or ambitions except to binge watch as much TV as possible. Literally. He hates to even leave the house. I explained to him that he is not retiring, but simply dropping out of society to become his wife's 3rd dependent for the rest of his life. But he doesn't get it. To him it's "retiring". And no, he's not joking about this. He was planning this even before her new job offer. They were calculating how much they would have to cut back on in order for him to quit his job.
If SHE allows it I guess it works for them. SHE is the one who'll have to pay him alimony if they divorce.
HE has a good deal going there, so why should it bother him. And apparently SHE doesn't mind the situation either.
Oh, well…..

He'll be sort of a stay at home dad. So I guess it could be seen as no different from a mom whose not the chief earner or "breadwinner."
Oh it does seem different to me. But maybe that's my bias.

Last edited by selhars; 02-28-2016 at 12:49 PM..
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Old 02-28-2016, 03:17 PM
 
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I can accept that someone is "retired" if they are doing volunteer work. However, I am somewhat ambivalent using the term for someone who is doing paid work (or running a for-profit business), even if its just part time.

Actually, I think the terminology is inadequate-we need more terms.
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Old 02-28-2016, 08:19 PM
 
Location: Los Angeles area
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Default Semi-retirement

Quote:
Originally Posted by selhars View Post
...................................

-- A married friend who was disability "retired" from a police department did NOT WORK for, oh I'd say 10 years or more. But now has a part time job. Oddly enough I sort of see him as still 'retired.' But I guess technically he's not retired anymore. Because again, IMO retired means not working AT ALL, for any reason….not for something to do, not for 'pocket change,' not for 'travel money.' etc. No paid work period. So he'd be semi-retired. He and his wife though do still say he's retired.

I would say I do tend to think of retirement as being binary. Either you are or you're not.
Either you ARE working for pay, because you need the money -- or you're not. And even if your working and DON'T need the money, you're still working, (even if working part-time) and so therefore not retired.

.............
Was it with you or with someone else I had this same discussion about semi-retirement in another thread? In my opinion it's odd to attempt to take away my description of my own reality, or what was my reality for a few years. Semi-retirement is an accurate but simple term for a genuine and very real condition. Retirement is not binary at all. I have experienced all three states: full-time work, semi-retirement, and retirement.

My retirement from my 34-year career with the same employer was marked by certain formal steps: first filing an application, then on my last day of work being acknowledged as a retiree at a luncheon. Following that luncheon almost eleven years ago I never again worked full-time. I can attest in all seriousness that I have been retired since that time. If I were somehow forced to adopt your binary concept (and thus could not use the term "semi-retirement" which I am defending) I would say that "retired" was closer to the mark than "working" even while I was still working part-time. Of course I am not forced to make that choice, so I stubbornly remain with the term which accurately describes what I experienced in real life. In my experience of it, semi-retirement is closer to full retirement than it is to full-time work. So while you say I was not retired, I know I was.
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Old 02-29-2016, 08:12 AM
 
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Quote:
Originally Posted by Submariner View Post
In some career fields you age-out earlier than in others.

In my career they begin forcing people onto pensions after 20 years of service. If you started at 18, then you could be forced onto pension at 38. If you include college, then you are put out to pasture at 42. Which is what I did.

In a work center of mostly 18 to 24 year olds, a 30 year old is the 'old man'. Very rare to see anyone reach 38 without a list of disabilities.
I believe you are referring to the military. Very few people actually "retire" after 20 years. Most move on to second careers - a big difference!

ETA: I just saw that Selhars made the same point.
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Old 02-29-2016, 08:26 AM
 
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"...perhaps it is supporting aging parents & relatives..."


You're lucky if you're retired by the time your parents need your help! I cut hours for years and then took a leave of absence to care for mine; luckily, I still had a job to return to at the end of it. As I've said elsewhere or maybe even here (not reading back to check), I think we should work from 20-40, retire from 40-60, then return to work at 60. But no one asked me!
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Old 02-29-2016, 08:38 AM
 
Location: Forests of Maine
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Once a person has a pension, they may decide to stop working for salary, or they may decide to start a second career. There are many factors that may play in this decision; lifestyle, disability, ...

I certainly agree that anyone who is still working for income, is not 'retired'.

How many people get a pension and then decide to continue working? I have no idea.

I know a lot of people who are disabled and on SSDI. Their SSDI income is not much. If they can find work that their bodies would let them do, they surely would. Simply because they are barely scrapping by on SSDI. [obviously I am not suggesting anyone to defraud SSDI. Report all income to the government and pay your taxes if ought be due]

I see a strong parallel between people with 20-year pensions and people with disabilities from other sources on SSDI. If there is some line of work that your assortment of disabilities will allow you to do, then you might likely go that path. Yet there are others who are okay on their level of pension or SSDI income.
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Old 02-29-2016, 08:43 AM
 
Location: Idaho
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Quote:
Originally Posted by selhars View Post

I would say I do tend to think of retirement as begin binary. Either you are or you're not.
Either you ARE working for pay, because you need the money -- or you're not. And even if your working and DON'T need the money, you're still working, (even if working part-time) and so therefore not retired.
selhars,

I'd think that many semi-retired folks would disagree with your binary definition of working. My husband has been in a semi-retired state for almost 10 years. He does substitute teaching with no more than 2 days a week earlier on then cut back to few days a month then probably less than 10 days a year. The pay is pittance and we certainly don't need the money but he has enjoyed working with the kids.

If you define working as being busy and not just being paid (even for a token amount) then my husband has been working almost full time as a cameraman and film editor for several documentary films in the last 6 years. He signed a 'work' contract for the last film to get a certain percentage of the film profit. This docu film is making the film festivals round and has won several awards but it is very unlikely that it will generate any profits. However, since my husband derives so much satisfaction from film making, this activity is definitely a great hobby and not a job for him.

Last edited by BellaDL; 02-29-2016 at 09:10 AM..
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