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Old 09-05-2017, 11:12 PM
Status: "Is that all there is?" (set 14 days ago)
 
Location: Southeastern Pennsylvania
996 posts, read 862,740 times
Reputation: 2298

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I worked for the Bell System in the '70s-'80s. In those days, for managers, it was "30 and out." I left Ma Bell after working long enough for a vested pension. I then had my own consulting business for 15 years. But that "30 and out" was still in my mind. We looked at our financial situation and decided I could close the business in 1999. DH worked 5 years more, because his company's full retirement age was 58.

We have never been sorry we retired in our mid-50s.
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Old 09-06-2017, 12:11 AM
 
Location: Wasilla, AK
7,241 posts, read 4,132,331 times
Reputation: 15642
I retired a few weeks after I hit 60. No regrets three years later.
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Old 09-06-2017, 12:48 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,555 posts, read 39,934,465 times
Reputation: 23683
Out at age 49 w/32 yrs service, but no pension or healthcare. That was great until the A(?)CA arrived and my $300/ month coverage went to a non-affordable $1700/ month and all 'affordable' options dissolved. Property taxes did similar, so needed to significantly change cash flows and income sources to assure 50 yrs in retirement.

Will likely be forced to leave USA for available / affordable HC coverage to bridge to age 65. Even after age 65, I hear of $800 / $1000/month for Medicare + supplements. (And $10k/ yr out-of-pocket). So many will be forced to stay away from USA, even after age 65.

My recommendations for those age 18+.... replace your income with an inflation adjusted income stream and no need to save / wait for retirement. This would be very ez for those with 'double' incomes. We accomplished our pre age 50 plan w/ single hourly income. Working 30 yrs of night shift and lots of OT, but more importantly, wealth building beyond wage income.
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Old 09-06-2017, 03:25 AM
 
Location: Metro Seattle Area - Born and Raised
716 posts, read 292,457 times
Reputation: 1756
Planned on retiring at 55, but retired at 52. Took a year off from work and now I'm back working another full-time job, but it's far easier than my previous careers... The hardest thing about my new job is waking up in the morning.

I now plan on retiring at 58.5/59. By doing this, it allows me to save more money for a really comfortable retirement. Plus, earn another very small pension, but still a monthly pension, to add to the money pot in the end.

To be honest, I'm not ready for full retirement and if my health is still pretty much the same, I'll most likely be working a part-time job well into my early/mid 60s after finishing up the required time needed in my current career to be vested into their retirement plan.
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Old 09-06-2017, 04:06 AM
 
Location: the Old Dominion
295 posts, read 149,259 times
Reputation: 1382
56.
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Old 09-06-2017, 04:24 AM
 
3,343 posts, read 3,046,350 times
Reputation: 4871
Probably 65. I like what I do and I'm good at it. My work pays for my travel, I have a flexible schedule, and I just bought my first house three years ago. Plus they pay me well and I have some not an expensive hobbies. It doesn't help that I have no idea where I would want to live since I'm probably pretty effectively priced out of Northern California now.
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Old 09-06-2017, 04:29 AM
 
Location: Central Mexico and Central Florida
7,098 posts, read 3,459,108 times
Reputation: 10163
55 was my goal, but 50 was the blessed reality.
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Old 09-06-2017, 05:21 AM
 
5,823 posts, read 10,152,124 times
Reputation: 4531
I plan to retire at 63 and I'm 62 and a half now- it's getting very close, I'm excited about it, for the first time in my life I'm going to be free to indulge in my hobby -travelling!-
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Old 09-06-2017, 07:04 AM
 
6,878 posts, read 7,276,074 times
Reputation: 9786
Quote:
It was spelled out for me before I was even hired: 56 years and two months
The way you phrased that I thought you had a job with a FORCED retirement age. But I see that's just when you could retire with benefits.

Quote:
COBRA health insurance until Medicare (at out of pocket expense of $566 mo)
Teach, are you getting a stipend for that. My COBRA is $913 a month for a premium med and dental plan. My friends say I'm crazy to pay that, I should go on ACA. And, I respond, "No, I'll pass on that."
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Old 09-06-2017, 07:42 AM
 
Location: Philadelphia/South Jersey area
2,872 posts, read 1,402,350 times
Reputation: 10071
Quote:
Originally Posted by jayguy01 View Post
I'm really hoping to call it a career at age 60. Although I have almost 30 years until this milestone, I hope to leave the grind behind me and still be physically fit to do everything I can with the time I'll have available. Like most things, it comes down to money, and I think I can make sure through proper planning to put myself in a great situation.


What is, or was, your planned retirement age and what happened to make it happen, or not happen?
actually for me it wasn't money at all.
Since 2013 I lost my husband, my little brother and one of my best friends to cancer. ALL before they were 55. That was a wake up call. I really started examining what I was working for.

My husband was of European descent, my father in law was Portuguese and the difference in how the two societies view retirement is startling.

Most of the people I know are stressed out, working because they are so scared of old age. Even hear rarely do I read (and I'm new to these forums so I may have missed a lot) stories of people working and saving to have a good time. anyway, lol sorry off track. after that I reexamined my life, figured out that work was highly overrated and that I'm no longer working to worry about healthcare when I'm 90.

I'm outta here in 2 years at 58 1/2. whatever money I have will have to do.
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