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Old 03-14-2016, 05:46 AM
 
Location: RVA
2,164 posts, read 1,265,106 times
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I have to say that until I joined CD a few months ago, I never realized how lucky I was to have found an occupation that I enjoy and that pays well and with great benefits. We've had quite a few retirement lunches lately and way too many of them are specialist engineers like myself that are only retiring after on paper so they can take 6 months to a year off, do what they want, decompress, etc, then come back to work part time double dipping doing what they enjoy, with people they like, for as long as they want.
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Old 03-14-2016, 06:59 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,546 posts, read 39,934,465 times
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Quote:
Originally Posted by Perryinva View Post
?... take 6 months to a year off, do what they want, decompress, etc, then come back to work part time double dipping doing what they enjoy, with people they like, for as long as they want.
Yup, count me in

Two of my coworker engineers took the golden parachute 5x! Great gig, with severance each time, and significant pay increases on each return.

I only went back to same company to get 9 wks paid leave + another international gig (paid very well to live overseas, which I prefer anyway)

It is a whole different game when you go back... They know you will leave in a heartbeat, so far better terms / pay / assignments / expectations. Contracting is ok due to the extra dough (if you got HC with adios #1)

Five engineer friends who took RIF took up 'job share', and worked 3 months on and 4 months off. No longer an option, so I just took a 12 month leave to use up airline and hotel points.

I may choose to go back for another foriegn assignment, or I may continue on with retirement #4,

Retire early - retire often!
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Old 03-14-2016, 07:32 AM
 
Location: Whereever we have our RV parked
8,772 posts, read 7,695,901 times
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At this point in time, I don't need to work for the money. I can get along fine on SS, pension and savings. But I can't start traveling as I planned after retirement because of my wife's illness, so I just keep working, otherwise I know I would get bored.
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Old 03-14-2016, 07:34 AM
 
Location: RVA
2,164 posts, read 1,265,106 times
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In my area workload is heavy in spring and fall, so they allow us to either work full time for 2-3 months on and off or to work a 20 hour week, depending what the load requirements are. Nice to have choices. Often the assignments are home every night, a nice plus. I just need a few years first to roll over the iras in to roths with low income.
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Old 03-14-2016, 08:54 AM
 
Location: Florida -
8,763 posts, read 10,834,959 times
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I've observed a bit of a paradox in planning to retire early ... or planning early for retirement. One's perspectives and interests tend to change in the process. The things one thought they would enjoy doing in retirement are often the things one was most interested in and enjoyed doing at the time one was planning.

But, there is a time and place for everything. Retirement is as much about re-inventing one's self to discover what the retired person (not the still working and planning person) - really wants to do with their life. Some have hobbies and interests that they simply expand in retirement. A large percentage of those who find themselves bored in retirement, were probably bored before retiring. Others find the things they enjoyed doing during spare weekends and vacations while working, aren't really meaningful enough to satisfy one's full-time retired interests and available time.
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Old 03-14-2016, 09:21 AM
 
Location: Coastal New Jersey
56,026 posts, read 54,523,130 times
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I retired two weeks ago, at 57. Bored? I don't understand how anyone can be bored.

My biggest problem is that I am home in daylight now and can see what a mess my condo is. With four hours a day commuting, I had time to do the bare minimum, such as dishes laundry, vacuuming, clean up the bathroom and kitchen, etc. Closets are a mess. I had piles of old mail--when working, I would just glance through for important stuff, toss the obvious junk into recycling, and put aside stuff I wanted to look at. Well, that last pile was huge and had stuff in it going back to 2014. Went through it since I was home.

I also started an exercise program. That takes some time and makes me tired, but I will keep going.

I belonged to a writers group but haven't gone in six months because my mom started dialysis and had bypass surgery, and a lot of the last few months centered around her. She's better now, driving again and whatnot, so that's off my shoulders, though I still go visit her regularly. But I went back to the writers group last week, so now I'll be back working on my Great American Novel!

I don't feel as if I retired "early". I worked for the same employer for 37 years, commuting most of that time to NYC, went through two terrorist attacks and the aftermath and recovery, and dealt with floods, transit delays, storms, blackouts, and everything else that makes commuting to a huge city built on a small island what it is. I could have left two years ago but I was in the middle of a project and was offered a promotion with a chunky raise that would bump up the pension enough to make it worthwhile.

But early??? It took a lifetime to get here!
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Old 03-18-2016, 01:09 PM
 
Location: Somewhere in deep in Maine
3,658 posts, read 2,809,103 times
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Quote:
Originally Posted by cyberous View Post
Ive been planning for early retirement for a long time, currently 45. My goal since I was in my 20s has been to retire at 50, but now it looks like 55 is a better option. As I get older Ive seen some of my friends retire early but this typically last a year or so then they go back to work. Some of them were very successful in their careers and have substantial wealth, others where in law enforcement (early retirement age.) When I ask why did you go back to work its always the same response, I got bored.

My question, do you plan to retire early (50-55), if so what will you do with your time? Or did you retire early and end up going back to work?
If you are going to have to work to keep busy, then why retire? The whole purpose of retirement is not to work. That's why its called re-tire-ment.
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Old 03-18-2016, 06:39 PM
 
Location: Los Angeles area
14,018 posts, read 17,729,443 times
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Quote:
Originally Posted by slyfox2 View Post
If you are going to have to work to keep busy, then why retire? The whole purpose of retirement is not to work. That's why its called re-tire-ment.
Your logic is unassailable but the OP is not sure whether he will feel the need to "work to keep busy". He won't know for sure until some time after he retires and he is having second thoughts based on the experiences of some people he knows. Therefore he is asking for other people to relate their experiences and that will be helpful as he thinks the matter through.
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Old 03-19-2016, 03:03 AM
 
Location: RVA
2,164 posts, read 1,265,106 times
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To slyfox2: that is YOUR definition of retirement, not for many many others. Cetainly not mine. Retirement for me, and most I work with, is simply the ability to do whatever you want without being forced to work in order to survive PLUS save for retirement. Once you have achieved a "sufficient for you", steady income, that is guaranteed without HAVING TO WORK, then you are retired, whether you actually "retire" from the job or not!!

I have plenty of coworkers that are financially "retired", but still work the exact same job they've been working for the last 30+ years because they love the challenge, the friendships, and accomplishments while getting paid quite well. People well in to their 70s, and you would never know it. Our particular company, with that much service, gives you 8 weeks of vacation, with every other weekend a 3 day wekend. Once you are a senior employee like that, its also easy to take a month off without pay. I've only known 2 people to do that though, as most have trouble using all their vacation time, as it is. Most have retired officially to collect their pension, then come back as contractors at usually a higher rate than when they worked direct, so they double dip.
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Old 03-19-2016, 06:28 AM
 
Location: Los Angeles area
14,018 posts, read 17,729,443 times
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Quote:
Originally Posted by Perryinva View Post
............. Most have retired officially to collect their pension, then come back as contractors at usually a higher rate than when they worked direct, so they double dip.
Your company is very generous, I would say. It's nice to hear about their welcoming attitude toward older employees (in a part of you post which I did not quote above).

That they allow double dipping is one measure of their generosity. The California State Teachers' Retirement System limits double dipping. Once retired, a California public school teacher is subject to a dollar amount limitation for re-employment in the Calif. public schools. I don't remember the exact figure, but it's in the neighborhood of $30,000 a year, which I think is pretty generous. That is enough to substitute teach for an entire school year at the paltry rate they pay substitutes in the district I am most familiar with - $140 per day. How they find enough substitutes is beyond me; there must be a lot of desperate folks out there, or a lot of folks just wanting something to do.

The limitation applies only to employment in the public school system in California. A retiree can earn unlimited amounts of money teaching in a private school, working in private industry, or teaching at a public school in another state. If money were an object, following my retirement at age 61 with 34 years of service, I could have moved to another state and found another teaching job (if anyone would have me at that age); even with my modest pension and the modest salaries teachers get in most places, I would have been rolling in money (from my perspective). But I love my life in California and never gave the slightest thought to leaving. And after 34 years teaching I was not interested to working full-time ever again, so I didn't even look into private school employment.
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