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Old 04-11-2017, 04:03 PM
 
Location: Long Island, NY
1,686 posts, read 2,055,914 times
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Quote:
Originally Posted by matisse12 View Post
What type of job is this that forces retirement at 57?

just asking - some type of physical labor or physical work?
Federal law enforcement.
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Old 04-13-2017, 02:57 AM
 
Location: R.I.
970 posts, read 603,310 times
Reputation: 4165
Quote:
Originally Posted by brightdoglover View Post
This morning I began the training for our rather late medical records program. Very chaotic and I thought of how I already hope to retire in January and it's a shame to go through all this chaos- and I'm considered a computer-savvy person where I work (it's a very low bar to jump...). Had a difficult weekend with a dying patient and angry family and inadequate orders and no pharmacy available. I decided I am paid enough for what I do on the tougher nights and how glad I will be not to face it. Camaraderie at work be damned. I'm through.

It really is a matter of finances, which, in my situation, is a subjective matter. What is enough? If I truly couldn't retire, I wouldn't, so be it for another year or whatever. If I was really loaded with money, there'd b be no question. I am somewhere in between where "enough" is subjective.

Still aiming for January. I'll be 64 an eight months.
Just this past week at work 4 of my coworkers put in their retirement papers and all will be retiring within the next few months. One is a pharmacist, one a psych NP, another a medical clerk, and the 4th a primary care case manager like myself but she works strictly with dementia patients. Their ages range from 62-69 and all have 40+ years working in the medical profession and all reached the point of enough is enough. Had I remained working as an ER nurse rotating shifts, weekends, and holidays which I did for 20+ years before going into case management I really don't think I could have lasted much beyond age 50!!

With the work that you do hoping for you that you will be able to manage retiring sooner rather than later.
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Old 04-14-2017, 05:12 AM
 
652 posts, read 889,939 times
Reputation: 1515
I have no pension but a modest IRA. I am currently 64 and I am working part time but plan on retiring at age 65 because after looking at taxes and our financial situation it makes no sense to continue working just to pay more taxes. I will wait to receive my FRA social security at 66 and we will live on my husband's FRA SS, savings and investments and next year we will start to withdraw from his IRA. I will wait until I am 70 to start withdrawing on my IRA if possible. We have no debt and a very nice house in a desirable area that is holding its value very well. I think we will be okay -- but who knows what the future holds?

Basically I want to enjoy life more while we are both healthy. I have noticed that I just need more sleep lately and get more tired so I don't want to push my body. I am very careful about my health -- I have seen too many people fall apart suddenly. We like to take vacations and visit family and friends, go hiking, go to daytime movies and museums, sit on the deck with our old tabby cat and read our books, go visit our children on the West Coast and lately I have just been thinking how I care much more about TIME than MONEY.
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Old 04-16-2017, 04:12 PM
 
4,312 posts, read 1,280,682 times
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I started thinking about retiring a very long time ago. I started working in IT (Information Technology) when I was 45 (I had gone back to school and changed careers). I kept hearing that age discrimination in IT is very bad. I experienced a lot of that myself -- although it's really hard to tell if it's age discrimination or something else.

I had a job for 12 years that had a lifetime medical retirement benefit. I only had to hang on for 2 more years, but it was obvious they were trying to fire me, so I quit and got another job.

It really sucked that I lost that lifetime medical benefit.

The next job lasted 4 years. It was boring, there was never enough work. But they fired me for being too slow! I guess "slow" was a euphemism for "old."

I was 64 so I couldn't get Medicaire. I thought I would just go without health insurance for a year and pay the penalty. It turned out I qualified for FREE HEALTH INSURANCE in my state, just because I lost a job!

If the manager who fired me knew what a BIG FAVOR he actually did me, he would not be happy.

So it worked out pretty well. I had to work longer than I had planned, but that caused me to learn some useful things that might help me get future consulting and teaching jobs.

Now I am working part time, don't know when I will completely retire. But I am SO GLAD to be out of the rat race, at least partially.
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Old 04-16-2017, 11:53 PM
 
Location: Pueblo area
211 posts, read 121,350 times
Reputation: 473
2) Technologies have passed me by.

I got laid off from IT after 50 and can see both sides. I know my payroll slot will be filled eventually with a 20-something replacement who will be 10 times smarter than me and do 14 hour days. Work for much less, at least at first. Good for them. Get your foot in the door, sky is the limit in code.

Severance was very generous, company stock is wow, so I did not even file for unemployment. No one is going to hire a 60-year-old to write mobile code, so why fake looking for those six figure programming jobs? Real unemployed people need that money more than me.
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Old 04-18-2017, 03:01 PM
 
Location: Milwaukee Area of WI
1,886 posts, read 1,293,855 times
Reputation: 1988
Quote:
Originally Posted by FrannyBear View Post
I have no pension but a modest IRA. I am currently 64 and I am working part time but plan on retiring at age 65 because after looking at taxes and our financial situation it makes no sense to continue working just to pay more taxes. I will wait to receive my FRA social security at 66 and we will live on my husband's FRA SS, savings and investments and next year we will start to withdraw from his IRA. I will wait until I am 70 to start withdrawing on my IRA if possible. We have no debt and a very nice house in a desirable area that is holding its value very well. I think we will be okay -- but who knows what the future holds?

Basically I want to enjoy life more while we are both healthy. I have noticed that I just need more sleep lately and get more tired so I don't want to push my body. I am very careful about my health -- I have seen too many people fall apart suddenly. We like to take vacations and visit family and friends, go hiking, go to daytime movies and museums, sit on the deck with our old tabby cat and read our books, go visit our children on the West Coast and lately I have just been thinking how I care much more about TIME than MONEY.
I totally relate to this post FrannyBear. You took the words out of my mouth with the last line of this post!!
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Old 04-18-2017, 03:09 PM
 
7,791 posts, read 4,381,326 times
Reputation: 11568
"...and lately I have just been thinking how I care much more about TIME than MONEY...




Well, you need enough money to be self-sufficient, independent, and comfortable in retirement before retiring; "caring" about money in that sense isn't a bad thing, and being "careless" about money isn't a good thing. It seems to me that fiscal responsibility gets a bad rap lately, but maybe that's just me...
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Old 04-18-2017, 03:12 PM
 
4,194 posts, read 2,487,108 times
Reputation: 1935
Spending time with the grand kids is great, but , obligations to bills etc tend to be the deflector to retiring early.
And the Rat Race sux
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Old 04-18-2017, 03:20 PM
 
5,424 posts, read 3,442,945 times
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Quote:
Originally Posted by FrannyBear View Post
I have no pension but a modest IRA. I am currently 64 and I am working part I have just been thinking how I care much more about TIME than MONEY.
Quote:
Originally Posted by CindyRoos View Post
I totally relate to this post FrannyBear. You took the words out of my mouth with the last line of this post!!
Isn't caring about TIME more than MONEY much more the luxury of those who have enough money to live on?

I mean you rarely hear this from people who are working lower wage positions or living a lower state of existence or who truly cannot easily retire due to various circumstances. This person may value TIME over MONEY, but have an existence where that is not possible or supported. Just a thought.

A person can value time over money, but still need enough money to live on, and not have a lot of choices due to circumstances, education, being single, geographic restraints, changes in the work force, etc.

Last edited by matisse12; 04-18-2017 at 03:29 PM..
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Old 04-18-2017, 05:10 PM
 
652 posts, read 889,939 times
Reputation: 1515
Quote:
Originally Posted by matisse12 View Post
Isn't caring about TIME more than MONEY much more the luxury of those who have enough money to live on?

I mean you rarely hear this from people who are working lower wage positions or living a lower state of existence or who truly cannot easily retire due to various circumstances. This person may value TIME over MONEY, but have an existence where that is not possible or supported. Just a thought.

A person can value time over money, but still need enough money to live on, and not have a lot of choices due to circumstances, education, being single, geographic restraints, changes in the work force, etc.


My point is that I am 64 and STILL working part time. The extra money I am making helps provide additional security but at some point I have decided to worry less about acquiring additional financial security. I have been working since I was 15 years old -- I never had a high paying job but we lived a life of delayed gratification -- saving and investing instead of taking big expensive vacations. We always tried to live below our means and pay off our debt before retirement. When our children were born I took off work for several years yet we still put money for me in a non-working spouse IRA -- it was $2,000 a year back then and it was HARD to put that aside. The power of time and compounding interest has provided me with a decent and modest IRA. After 45 yeas of saving I don't view my financial security as a "luxury" bestowed upon me by the financial good luck fairy. We denied ourselves many things to fund that IRA 35 years ago.

At this age I am choosing TIME because I can -- that is correct. But it wasn't because of some magical good luck -- I did work for everything I have. Many people have much less because of bad luck or other circumstances -- but just as many have much less because they did not prepare for retirement or made many bad decisions. I do feel fortunate that I have good health and I always try to be generous with family members who have less. And I try not to judge others financial circumstances because I don't really know what goes on behind closed door.
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