U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-16-2008, 11:26 AM
 
4,711 posts, read 10,895,918 times
Reputation: 3774

Advertisements

I say retire as early as you qualify for a pension, which is what I did at age 50. Unfortunately I became bored to tears in less than a year. So, I took a job driving a school bus, which I absolutely love. I always thought it was a part time job, but I never put in less than 40 hours a week.

Ours is the 10th largest public school bus fleet in the country with a 1600 buses and a $80 million annual budget. In just 5 years, I make $21 an hour and am now vested in the County's generous retirement plan. I will one day be a double dipper...collecting a Federal and Local government pension.

I've been asked to join management (the transportation director makes $110K), but I love "my" kids too much. And those Friday night football trips are a BLAST!

School buses have come a LONG way since I was a kid....ours are rear-engine, transit (flat nose) buses that are air-conditioned, air brakes, diesel powered and automatic trannies. We buy 100 new ones every year @ $110K a pop. They drive better than a Cadillac!


So yeah, retire and then find a FUN job!
Reply With Quote Quick reply to this message

 
Old 02-16-2008, 11:33 AM
 
Location: Tampa, FL
27,798 posts, read 26,217,684 times
Reputation: 14611
Well stated. Thanks -
Reply With Quote Quick reply to this message
 
Old 02-16-2008, 09:57 PM
 
Location: Kronenwetter, Wis
451 posts, read 1,005,326 times
Reputation: 275
I have a good friend who could retire now (financially secure) but says "I want to keep working while I am able". We both drive for a living. So when he's not "able", what does that mean? He can't drive anymore? He can't walk? He has a serious illness? etc. etc. So God forbid, if he has one of these afflictions and has to retire, how is he going to enjoy retirement? And the strange thing is he hates his job. I've heard other people say the same thing and just can't understand that reasoning. When I retire I want to be "able".
Reply With Quote Quick reply to this message
 
Old 02-16-2008, 11:03 PM
 
Location: Tampa, FL
27,798 posts, read 26,217,684 times
Reputation: 14611
I can understand your friend's thinking. We may think we're financially able to retire now. But in 30-40 years who knows what could happen and we could regret not making more money. I'm in the health care field, so leaving for 10 years then returning may be difficult --
Reply With Quote Quick reply to this message
 
Old 02-17-2008, 06:33 AM
 
Location: Forests of Maine
30,683 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by SportFury59 View Post
I have a good friend who could retire now (financially secure) but says "I want to keep working while I am able". We both drive for a living. So when he's not "able", what does that mean? He can't drive anymore? He can't walk? He has a serious illness? etc. etc. So God forbid, if he has one of these afflictions and has to retire, how is he going to enjoy retirement? And the strange thing is he hates his job. I've heard other people say the same thing and just can't understand that reasoning. When I retire I want to be "able".
Perhaps his mental image of 'retirement' is one of wheelchairs and IVs, diapers, alzheimer's and hip replacements.
Reply With Quote Quick reply to this message
 
Old 02-17-2008, 09:32 AM
 
13,319 posts, read 25,565,364 times
Reputation: 20505
I'd worry about retiring and ending up regretting having not saved more money. Only.
If I had the financial security I think I need, I'd leave smoke quitting my job. I've had it. And I'll worry about "keeping busy" and all after. I've been working full-time since age 18 (now 55) through schooling and different kinds of work, and I'm just plain old finished.
Reply With Quote Quick reply to this message
 
Old 02-17-2008, 12:38 PM
 
Location: Forests of Maine
30,683 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by brightdoglover View Post
I'd worry about retiring and ending up regretting having not saved more money. Only. If I had the financial security I think I need, I'd leave smoke quitting my job. I've had it. And I'll worry about "keeping busy" and all after. I've been working full-time since age 18 (now 55) through schooling and different kinds of work, and I'm just plain old finished.
Worry, worry, worry.

I am so sorry to hear this.

55 is rather old to begin thinking about retirement, shifting to a mortgage-free home is a good start. If a household has been paying half of their income on rent/mortgage, getting rid of that instantly drops how much you 'need' by half.

If you had 50% of your income freed from housing and available to do some investing with; you could surely do some serious investing.
Reply With Quote Quick reply to this message
 
Old 02-18-2008, 08:57 PM
 
13,319 posts, read 25,565,364 times
Reputation: 20505
"55 is rather old to begin thinking about retirement,"

I appreciate your sympathy, but am honestly not sure what you are being sympathetic about.

I thought about retirement late, but not yesterday. I went back to a particular job because of the pension in 1999 (where I was already vested) and have clunked along with my 403b.
I never thought of such things before I was, oh, 40, for a number of personal reasons, most of them being that I had no idea how one could live without working, and because I kept doing all the things I thought I wanted to do in life (the things many people put off until they're retired). I wish I'd been more prudent, but I'm glad I did so many of those things, which largely turned out not to be worth the trouble (moving places, changing jobs, going back to school, etc.)
I am willing to work the "weekend package" at my current job- work two shifts every weekend, get paid for three, get pro-rated benefits. I think I could do that if I take my pension at age 62. Again, I worry about not having enough money to do this relatively safely, and becoming older and needing more money and not being able to get it.
I don't worry/worry about it- just try to plan reasonably. I'm in lots better shape than most people I know, to be honest.
Reply With Quote Quick reply to this message
 
Old 02-18-2008, 09:31 PM
 
Location: Looking over your shoulder
30,336 posts, read 27,799,885 times
Reputation: 81283
Quote:
Originally Posted by AksarbeN View Post
When should a person retire? At what age? 40ís 50ís 60ís 70ís or even 80ís

If they are financially ok to?
If their health is starting to fail them?
If they canít find another job?
If they just donít like to work any longer?
If they need to stay home and care for a love one?

When???
I understand itís up to each individual person and their personal needs at the time. My question was to find interesting answers and thought ~ each of you provided just that, and I thank you all.

If a personís health is failing and they canít or shouldnít work, retire
If a person can financially retire and they (personally) donít care to work ~ then retire.
If they donít like to work and can take care of their own personal needs without depending or be a burden on someone else ~ then retire.
There are so many answers that fit the question but it truly is an individualís choice if all the factors are in favor of it.
Reply With Quote Quick reply to this message
 
Old 02-19-2008, 10:28 AM
 
Location: Tampa, FL
27,798 posts, read 26,217,684 times
Reputation: 14611
When people get in their 60s, 70s, and 80s - they reflect back on their lives. I vaguely remember some psychosociologist theorist named Erickson who studied this. He discussed that the older adult goes through their final stage of life development called, "Integrity vs Despair". This is where the "oldtimer" reviews his/her life accomplishments, deals with loss and prepares for death.

So regarding retiring early, I don't want to reach that final stage and look back at my life with despair because I quit working too early in life and didn't accomplish enough with my life. This is a big factor in my decision to retire. I can afford it financially, but I'm not sure psychosocially if I'm ready.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top