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AI think it has been pretty ideal myself (other than being diagnosed last year with cancer, lol).
MadManofBethesda, I'm sorry to hear of your cancer and hope you are doing well now.
My husband retired at 54 but had planned to retire from his union at age 55. He could have kept working but they changed the rules and was making the age go to 58 with less benefits. We get a pension and a stipend to help with health care which brings our insurance costs to $100/month for our family. We have been planning for years for our retirement and actually hubby was upset that he couldn't go until 55. He'll be 59 later this year.
I feel very blessed to be in the position we are in
One question regarding your retirement in your mid 50's. How did you bridge the gap in health insurance coverage from having retired until medicare kicked in? I know some companies offer their early retirees an option of continuing their health insurance, albeit, at a higher (non-subsidized) rate. In my company, that rate is easily 2-3x the rate that an active employee would pay.
DH and I were both public sector employees and our respective employers provided health insurance for life. We do have to apply for Medicare, but they will pay for the supplemental or advantage plans. We each have about $100 a month deducted from our pensions though because we no longer live in-state and the out of state plans require we pay the difference in cost.
I am currently 29 years old, and expect to work as long as I possibly can. With medical advances in my lifetime, I may very well have another 50 working years. I've found that using my vacation one day at a time, creating 3-day weekends, and 4-day holiday weekends is plenty to break up the year for me.
How have others in this thread felt regarding retirement, reasons to retire, philosophy on use of vacation, etc.?
I am currently 29 years old, and expect to work as long as I possibly can. With medical advances in my lifetime, I may very well have another 50 working years. I've found that using my vacation one day at a time, creating 3-day weekends, and 4-day holiday weekends is plenty to break up the year for me.
How have others in this thread felt regarding retirement, reasons to retire, philosophy on use of vacation, etc.?
I think you may find that your viewpoint on work may be very different at 49 or 59. At 29 you haven't really been in the workforce all that long. A 3 or 4 day break may not be enough to rejuvenate you in 20 or 30 years.
The other variable is, even if your health is excellent, your employer may not want you and may force you out. You may or may not be able to get another job and if you do get another job, it may be for much less money. IMO it's risky to plan on working until you're in your 70s.
I think you may find that your viewpoint on work may be very different at 49 or 59. At 29 you haven't really been in the workforce all that long. A 3 or 4 day break may not be enough to rejuvenate you in 20 or 30 years.
The other variable is, even if your health is excellent, your employer may not want you and may force you out. You may or may not be able to get another job and if you do get another job, it may be for much less money. IMO it's risky to plan on working until you're in your 70s.
The goal is to save many times more than I'll ever need, and have a few years in retirement that will never, ever deplete that sum.
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