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 04-12-2008, 04:48 PM
 
Location: Maryland
454 posts, read 933,706 times
Reputation: 898

Advertisements

Quote:
Originally Posted by Kurt View Post
I was not going to post this, but maybe someone can give me a bit of feedback--someone who has been in my mocassins or shoes. I am working at a job that is giving me less and less satisfaction--but it is not all that bad. This year I have been telling myself that starting in August 2008, I could tell myself that this is the last time I will ever do certain tasks. You see, I teach at a college and my contract runs out in July of 2009. I have to decide if I want to renew in January 2009 for another year.

I have done my math and even with the stock market down, I could afford to retire at age 59 in July 2009. I am a single man with no children. I am planning on moving to a lake in either Oklahoma or Louisiana--I have been scouting out these areas for the past 3-4 years.

If I did stick around for another year or even 2-3, I could certainly enhance my retirement lifestyle. On the other hand, I can live pretty cheaply in the areas I have scouted out--although there are really no teaching possiblilities and a job as a Walmart greeter is probably the best I might get. On the other hand, I do not want to be pressured into working. I know I could fill my hours with my own interests and I am willing to do volunteer work for chuch or Chamber of Commerce, et. al.

I am in reasonably good health with no major health conditions. So I could get private health insurance--higher deductible--until Medicare kicked in. I don't really need Social Security to get by until 62, when it will come in handy--I can take stuff out of my 401K at 59 1/2.

Most of my money is in the stock market and in pretty secure big cap stocks
--but I have taken a real hit of late. I had hoped to segway into some bonds before I retired, but I would only take a loss if I did that now.

Well, enough explaining! Here is my question--is it worth enduring a few more years of grief at my job just to feel more financially secure? I don't need any of this "follow your dream stuff"--just let me know if you did it--retired early and lived frugally in an area you really enjoyed and puttered about with your avocations or hobbies--and have no regrets. Or do you wish you had hung in there a bit longer?

Thanks and God Bless for reading this. Hope to hear from someone.
How do you know that you have a few more years? Is it in your contract? Seriously, do you want to spend your last moments in a job that is giving you grief? I know that we have to plan for the future, but realistically today could be yours and my last day. How do we want to spend it? For me, doing what I need to do in a place where I need to be. I have to take the bigger picture into account.

I have been retired for a number of years now and all of that time was spent volunteering my time in a very worthwhile cause. I could have made money and lilved better but in my humble opinion, my time couldn't have been more rewarding and the investment of my time in something that I love doing is priceless.
Reply With Quote Quick reply to this message

 
Old 04-13-2008, 12:46 PM
 
Location: Cosmic Consciousness
3,871 posts, read 15,513,297 times
Reputation: 2638
Quote:
Originally Posted by Kurt View Post
... grief ...
"...grief..." Wow... Don't the sages say that at the end of our lives we never really regret what we did, only what we didn't do? "Golly, I wish I had done ... "

Kurt, you are the only one who knows what makes your heart sing and your face smile; and you are the only one who knows whether or not you want your heart to sing and your face to smile. Everyone is always doing the best they can in life; and when we know better, we do better...

But know that whatever path you choose, Life will always give you the very best it has to offer you from that path. I wish you joy!
Reply With Quote Quick reply to this message
 
Old 04-17-2008, 06:39 PM
 
Location: Lovelock, NV - Anchorage, AK
1,195 posts, read 4,993,872 times
Reputation: 465
My husband has the right idea, retire early and make a point of collecting as many checks as possible. Some folks wait until they can get a bigger check and only have few years to enjoy it before something horrible might happen. Not saving that something won't happen when your young too, but his idea is not so much as collect a bigger check but the most amount of checks. I myself like his idea
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 11:08 AM
 
2,317 posts, read 4,639,390 times
Reputation: 1248
I just retired at 49 after 20 years NYC law enforcement. I moved from NY to PA, because that is where my pension will be further,not to mention it will only be taxed federal.I have NO REGRETS AT ALL! It was the best thing I did.
I have hobbies,wine making,golf,fishing,I draw,Just enjoy life now. Just make sure on your income you go somewhere that you can get the most of it.Sometimes sticking around for the extra money isn't worth it,you can get sick,that stress is a killer. You really have to weight things out.
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 03:40 PM
 
19,922 posts, read 9,988,437 times
Reputation: 27341
Quote:
Originally Posted by Tressa View Post
My husband has the right idea, retire early and make a point of collecting as many checks as possible. Some folks wait until they can get a bigger check and only have few years to enjoy it before something horrible might happen. Not saving that something won't happen when your young too, but his idea is not so much as collect a bigger check but the most amount of checks. I myself like his idea
I think Tressa is absolutely right. I figured out the difference at one point between taking the money when first available or waiting until it was the higher value. I think the breakeven point for the combinations of my pension and social security was 78 years old. I'll take each at my earliest age of eligibility and if I have excess, I'll bank it. I'd rather have it and use it at my discretion than leave it for the promise of larger gains down the road - assuming of course I'm here down the road.

Charley
Reply With Quote Quick reply to this message
 
Old 04-20-2008, 03:46 PM
 
29,779 posts, read 34,867,277 times
Reputation: 11705
Wife and I just retired prior to 60. Would say do it. The lifestyle is great and the additional money is not going to buy you the joy and freedom of retirement
Reply With Quote Quick reply to this message
 
Old 04-20-2008, 04:04 PM
 
Location: Journey's End
10,189 posts, read 24,911,600 times
Reputation: 3840
I retired the moment I knew I could collect my pension, and don't regret it for a minute. As a matter of fact, one of my 14 directors (a government job) called me two weeks ago to tell me how much she envies my decision as nothing has changed since I left 2 years and 1 month.

Did I lose money? Yes, I had to take a substantially lower SS; and a reduced pension. Did it change how I live? In some ways I've had to tighten the belt, but in other ways, costs even out: no expensive lunchs; no more work clothes; and fewer hassles.

Mind you, I don't think retirement is trouble free, but rather it provides one with choices, and choices do have their challenges.
Reply With Quote Quick reply to this message
 
Old 04-20-2008, 06:32 PM
 
Location: Gary, WV & Springfield, ME
5,826 posts, read 8,651,503 times
Reputation: 17267
Volunteer your time where it is needed and in an area you have an interest in. Doesn't matter what it is, as long as you enjoy doing it. This will fill your days doing something worthwhile, making a difference for someone or something else and able to work as many or as few hours as you want.
Reply With Quote Quick reply to this message
 
Old 04-20-2008, 06:36 PM
 
Location: southern california
55,665 posts, read 74,620,384 times
Reputation: 48173
did the same. yes leave
a few things.
get healthy
get some hobbies asap.
sign up adult ed classes fun stuff (hobbies)
go to the senior center network
dont become a volunteer addict
do not invest your retirement money in your own biz.
do not go to the boonies and build your dream house
do not move away, when you get old you will need friends and
a very good medical infrastructure close by
do not deed all your worldly goods over to your kids
they can rip you off
surviving is good, actually enjoying living is next step

Last edited by Huckleberry3911948; 04-20-2008 at 06:54 PM..
Reply With Quote Quick reply to this message
 
Old 04-21-2008, 05:26 PM
 
16,092 posts, read 36,576,539 times
Reputation: 6277
succint and also sounds like the voice of experience.
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
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