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Old 09-15-2017, 11:18 AM
 
Location: Minnesota
1,561 posts, read 1,350,489 times
Reputation: 2034

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My dad retired at age 60. My mom was a stay at home mom, so as we know, her work never ended...lol.

I still remember when my dad told me "retirement is dependent on income, not any specific age".

I remembered that statement and have taken it to heart. I will be retiring at age 58......next year.

Your retirement age is generally under your control. Save more early on, retire early. Spend more early on, retire later. Your choice!

Last edited by jasper1372; 09-15-2017 at 11:59 AM..
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Old 09-15-2017, 11:43 PM
 
26,589 posts, read 52,247,863 times
Reputation: 20397
Based on expenses I could live comfortably for my simple lifestyle and retired long ago... not even close to being Social Security Eligible or have any pension... I have made other investments that are solid and not in the Stock Market.

My work position has undergone changes with each merger... part of me just wants to see where it all goes...

It is comforting to know if my job ended tomorrow I would be OK

Maybe it is short sighted on my part and I have tendered my resignation so I have been to that point once...

Last edited by Ultrarunner; 09-17-2017 at 11:15 AM..
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Old 09-16-2017, 09:41 AM
Status: "0-0-2 start!" (set 13 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,287 posts, read 15,336,812 times
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My father officially retired at 65, the second he was able to retire with full pension. Since he had worked in management for a large multinational corporation for 40 years, it was a very generous retirement. He actually retired more than a year before that time, as he had so much accumulated vacation that he had to take before he could retire.

DH, in contrast, worked for a multinational Fortune 50 company, started with 10 days vacation and, 20 years later, had 16 days of vacation - on a "use it or lose it" basis, no year-on-year carryover.

Dad's company moved him around quite a bit (which is why I say I am not "from" anywhere in particular) but the years he worked in NYC he had the "Mad Men" style day - commute into the city by train, work 9 to 4 with the 2 martini hour-plus lunch. Other places had different cultures. When he worked in downtown Los Angeles (8 to 5 there), he took the company-sponsored bus in from Pasadena and in the afternoons on the way home played poker and drank beer for the hour-plus commute. Those were the only massive commute cities we lived in.
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Old 09-16-2017, 03:27 PM
 
Location: Central Massachusetts
4,800 posts, read 4,842,106 times
Reputation: 6377
Don't know. I was too busy busting my ass working to take notice of when they retired.
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Old 09-17-2017, 06:09 AM
 
4,431 posts, read 2,605,246 times
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My father worked from age 8 delivering 2 different newspapers. Then other stints while In high school.
After he graduated, he went into the service for just under 3 years. Worked various positions while in college on the GI bill. One college stint was a temp position with a Fortune top 10 company. That company hired him permanent even without having finished his Bachelor's. But by then he had married and two years later I arrived, so with a family to support he took it.

They moved him half way across the country to here. They did give him a sabbatical to finish the last two semesters of his degree.

He retired at age 55 in a leveraged early pension window, which took into account each stint with the company counting as a full year, so it was considered to have 25 years of service, but the window also allowed for some extra, so he was considered to have 30 years service. He is still alive at age 83.

Mother, 8 years younger than my father, was a stay at home mother, but had a degree and did crafts for shows. Struck with a progressive degenerative disease at age 23, by the time she was 30, and I age 9, she could no longer function and I had to take over her household role at my age of 9.
Mother passed away from complications of the dreaded disease at age 59.

I will NOT be able to retire st age 55, a year away, but I've had several difficult life events.

We, my OH (4.5 years older) and I plan current to retire, my OH in spring 2029 at age 70, and I follow in fall 2030 at age 67, my Fra.

I currently draw SSDI and I work part time to increase both my meager benefit and future SS . I'm hoping my phone intake interview on Monday leads to a full time sit down position a a pay rate more in line with my Administrative assistant previous position.

If that happens (fingers crossed), I'll have a small pension if I last the 15 years, then I'll retire at age 69with fully vested but small pension. It'll be the ONLY PLACE I've ever had a pension. My OH has NEVER had a pension. And has several years of not working at all, so my OH s SS will be about half mine.....

Keep your fingers crossed I actually get the job, please, it will be a great help in planning retirement!!!

Thanks
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Old 09-17-2017, 04:14 PM
 
Location: Upstate, NY
602 posts, read 259,523 times
Reputation: 748
My dad retired at 55, I believe, from the federal gov't. He got two years for his service in the Navy. He was a WWII vet. My mom was a nurse. After they divorced he bought some investment property and managed it himself for extra income to supplement his pension. My mom continued working into her late 70's believe it or not.

My dad passed away unexpectedly just before his 72nd birthday. So I'm glad he had several years of retirement. I wish I could quit in my 50ís, but would not be able to afford it. I'm hoping for 25 years in retirement.
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Old 09-17-2017, 09:13 PM
 
394 posts, read 156,333 times
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After WW2, my father was interested in electronics and fixed TV's and larger appliances for Sears.
He did this for over 25 years, but didn't retire until he turned 55. He had had several heart attacks and a quintuple bypass. His doctor was kind enough to put him on disability. Good thing my parents cashed in his retirement and bought a beach house in 1971 in Newport Beach, Ca. They paid an old man who wanted to retire $100K for the duplex apartments. It was across the street from the beach.

They also tried operating a laundromat. My dad took it easy most of the time, and the Beach house paid for itself until the 90's when it was paid off. Then the BH was a high money-maker. They lived well because Dad was happy staying home and not traveling. He liked to care for his orchids in his backyard hothouse.
The beach house and other properties that they purchased ended up paying for their retirement. Dad sustained another bypass surgery at the age of 60. He had heart problems off and on, until he died of congestive heart failure at 67.

My mother lived well on his Social Security and income from their properties. She traveled extensively around the world and took us kids and her grandkids with her. She had severe diabetes, but it rarely slowed her down. She died at the age of 92, still managing her properties off and on in between hospital stays. She loved working.

I am 60 and hope to retire soon. Fortunately, I hesitate because I love my part time job. I work only 18 hours a week, and am paid well. I will have a small government pension as a teacher, another small pension from the 8 years I worked as a pharmaceutical rep. I will also get Social Security. I was a part-time SAHM.

My husband has retired at 60, a bit early, but his job was becoming unbearable. We made the decision to let him retire. He highly recommends it. It helps that he has a decent government pension. We don't need to file for his SS yet. We will let it increase for now.

I am not sure when I want to.retire. Probably when I begin to have health issues. My friends and family are dying on me. I am very upset about that. A very good friend died "out of the blue" from a stroke in his cerebellum. He was only 58. MIL died at 61 from lung cancer. Both never collected a dime of SS or withdrew money for their living or enjoyment from an IRA or 401k. Ugh. Do I feel lucky?

Last edited by suziq38; 09-17-2017 at 09:22 PM..
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