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Love this type of thread, haven't seen one of these in a while. I've been following this forum for almost two years, and this thread finally motivated me to post!
I'm 61, and I retired exactly one year ago today. I worked in IT in an excellent company, and I liked what I did, but there was also a lot of stress, and I didn't like the commute. Some time ago, I asked a retired friend this very question, after he and he a few others had asked me when I was planning to retire (when I didn't have that desire yet). His answer, with a knowing look, was "oh, YOU'LL know." I asked him what that meant, outside the requisite financial preparedness. He explained that it's when you realize that time is more important than money, and that you really want the freedom to spend your time remaining, while you can, as you see fit.
I had that epiphany around the time I discovered this forum, and started my countdown in June 2016. How much "good" time do I have left? Who knows? My mom passed away at 68, and although my dad lived until 85, he started having dementia at age 70. He retired and took SS at 62 (my mom was a SAHM), which turned out to be a good decision for him. Bottom line is, I have the freedom to do what I want while I still can!
A couple of months ago, I was called back out of retirement to manage a special, one-time project, which I agreed to do. So, I'm working again, but only 12 hours a week! Piece of cake compared to full-time. As another poster said, I work in the morning and I'm free to drink beer in the afternoon!
Long ago I had a dollar number in mind Iwanted to reach. I thought I would reach it at about 67. My oldest sister retired at that age - why couldn't I?
But I tired of work.....and it just got harder and harder to get up in the morning for a job I was tired of.
Then I realized that our retirement - my spouses and mine - didn't have to rely on me alone. Spouse is pretty much semi-if not ALL retired. He works occassionally for electronic product marketing company.... doing short training stints.
My BIL died at 68 in an auto/pedestrian accident - and it shocked the hell out of me. 68 was too young. At 64 I know I have a lot more living to do.
If all goes as planned I will reach 65 in October and will walk out the door the very next day. We may not have reached the identified dollar amount - but we will have enough.
For all of the above reasons! For me in particular:
Tired of commuting 2+ hours a day
New director's plan to make work as miserable as possible for old-timers
New young employees endlessly trying to reinvent the wheel
Realizing that my pension, plus SS would exceed my take-home pay
Realizing a hot housing market would allow me to sell my house, relocate to a low COL, much less crowded area and buy house with cash..no more mortgage!
Sometimes LIFE tells you when it is time to retire....I had a sister who was widowed and had terminal cancer....I had almost enough time to retire civil service (30 yrs) so....took care of her and worked as long as I had to, then took my retirement on my 60th birthday and was able to dedicate 100% of my time to her needs (I have an AMAZINGLY SUPPORTIVE HUBBY!!!!) until she passed 6 months and 2 days after I retired.
Otherwise, probably would have stayed working to retire same time with hubby.
Hopefully, your decision is not driven by such events and you can decide based on HAPPY plans.
Sorry for your loss. Things are going so well for us that it’s scary. My wife is at high risk for breast cancer but she just had an excision biopsy which was negative.
I love my job....even more after my Mgr called Thursday to review my salary increase, a decent bonus and a salary bump mandated by HR when they realized I was “light” for my level. My wife is younger and will work until her mother passes...and maybe a little more. If I retire now, I’ll give up a great job which really has no stress....it’s all upside and, bonus, I work at home and can manage my schedule to my likes.
Work, to me, is a virtue and until something changes, I see no reason to retire. Is the weird?
Work, to me, is a virtue and until something changes, I see no reason to retire. Is the weird?
Not weird, but a specific take on it. As long as you don't project onto others as not-virtuous because they/we don't share the attitude of virtue...
I think every adult needs to be capable of making a living, and be making a living unless taking care of dependents of any age. To me it's a necessity, not a virtue. Of course, if you really like your endeavor, it's a lot easier to see it in a positive light.
After having the best three financial years in a row, my boss decided to reward his staff by making us hourly employees and taking away paid vacation time, sick time and not paying us for any holidays.
He did give us a dollar an hour "raise" and by his voodoo math declared we would make the same amount yearly . I made the same amount but it took ten hour days, every day, no time off.
After five years of that I was so burnt out I told him I was leaving. Since I've always lived way below my means, it was a good decision for me.
Assuming you had some amount of control, how did you know that it was time to retire? What motivated you to take that step?
1) Working continuously(never any unemployment) for 41 years. 2) I was the oldest person(at 62) in my last dept. 3. My career was in IT(network, server, database admin) and ubiquity of the internet, where there was virtually no mental downtime, was becoming a recipe for total burnout. It would have killed me from stress if I had stayed a moment longer and paying me more would not have worked to keep me employed.
Retiring was really one of the easiest decisions I've ever made. I've been retired for 6 years.
Not weird, but a specific take on it. As long as you don't project onto others as not-virtuous because they/we don't share the attitude of virtue...
I think every adult needs to be capable of making a living, and be making a living unless taking care of dependents of any age. To me it's a necessity, not a virtue. Of course, if you really like your endeavor, it's a lot easier to see it in a positive light.
That’s an interesting way of phrasing it. I feel strongly that my number one job is to insure my wife has enough money until she passes. That’ll likely be years after me. While we’re debt-free and all the models say we’re in great shape, as long as work is rewarding, I’ll ride this horse until he throws me off. The extra money will allow us a bit more freedom also.
I appreciate your input!
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