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 11-07-2018, 10:37 PM
 
Location: New Mexico
6,620 posts, read 3,687,027 times
Reputation: 12436

Advertisements

I considered some of those fears and retired early at 52. My parents worked until 65 and had very few years together to enjoy retirement. My mom spent seven years in a nursing home. My dad was with her for several years because of a stroke. I felt they were cheated out of their retirement. My wife was a few years older and we wanted to have time together. As it turned out she died when I was turning 59 but we had a good seven years together in retirement. I'm glad I could retire early and didn't worry myself silly over every little detail.


We had a comfortable nest-egg and a good financial advisor and we both had a decent pension. We both worked part-time in jobs we enjoyed for pocket money and social contacts. I was a volunteer researcher at the state archives. More recently I'm a volunteer Vice President of a foundation that keeps me busy and socially engaged. Retirement is what you make of it as long as you are healthy and live within your means and have some sort of a safety net. Those three things need to be planned for and safeguarded even before you retire. Couples also have to make plans for the survival of one or the other because that's how things usually end up.
Reply With Quote Quick reply to this message

 
Old 11-07-2018, 10:46 PM
 
Location: Prepperland
13,750 posts, read 9,862,006 times
Reputation: 9880
IMHO, this generation shall see the end of retirement, pensions & entitlements.

It's a gigantic scam based on money madness to disguise widespread skimming from the (m)asses, via usury, gambling, inflation and fraud.

Already Europe is suffering from the combination of rising recipient population (elderly) and declining tax base (drop in population). Their remedy of importing immigrants will backfire, too. Those immigrants are seeking to be "takers" not "makers".

When usurers and collectivists no longer rule us, the old fashioned way of long term security will become popular once more: the extended family. If you don’t have one, you may have to ‘buy’ into one, via private charities.
Reply With Quote Quick reply to this message
 
Old 11-07-2018, 10:50 PM
 
2,575 posts, read 4,696,514 times
Reputation: 6378
It might help to narrow down the basis of the fear. Is it financial worry? Lack of professional involvement? Losing the social aspect of work? If you can figure out what is so scary, you might be able to evaluate the validity of your concern.

I retired somewhat early because I had the means to do so, and twice in the past 15 years I downsized to smaller, cheaper houses and areas of the country, so money is not a concern for me.

Although I enjoyed my work, I now have time to do so many things that were off the table when I was working and raising my son. A friend made me a beautiful violin, and after years of playing classical piano and fingerstyle guitar, I took up this new instrument 4 years ago and take lessons every week. I started horseback riding again after a 44-year hiatus (I hadn't ridden since I was in my college's Equestrian Club). I volunteer twice a week at the hospital. I live right by the entrance to a 25-mile long rails-to-trails path and walk 3-6 miles on it almost every day, through woods and next to farms. For my jobs I had traveled to many countries in Africa, Central and South America, but had never been to Europe. So I went (and went again, and am going again next year).

I've already outlived my mother and both grandmothers, and I'm only 64 (they died at 35, 58, and 60 of heart problems). I have no idea if I'll follow suit and die fairly young, or live to a ripe old age. And how long will I feel physically able to ride a horse, or travel to faraway places? I didn't want to be one of those people who says "someday," and never make it to "someday."
Reply With Quote Quick reply to this message
 
Old 11-07-2018, 11:14 PM
 
Location: Nebraska
1,886 posts, read 2,304,198 times
Reputation: 5327
Most can not put life in perspective. Life is much short then most think. At the risk of sounding morbid, I have been keeping a list of people that have died during my life that at the time of their death were my age. The list has 34 people on it.

My grandfather retired and 4 weeks later died.

100 years ago there was no such thing as retirement, people just keep working until they died. A lot of the time on the job.

A friend of mine said that "no one ever said on their death bed, I wish I would have worked more years or worked more overtime". That statement is true.

It's normal to be afraid to retire, but realize that the alternative is death while working. Every one that retires has doubts, but thousands retire every year and love it, I'm one of them. Been retired now for 21 years and have never regretted the decision.
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 07:57 AM
 
825 posts, read 566,431 times
Reputation: 2603
I'm tempted to retire now, but I'm hanging in there because I'll be vested in a small pension in two years. It will be large enough to cover all my gas & electric, Internet, water & sewer, and telephone bills, as well as my HOA fees. The pension is small because I came late to government work and didn't get promoted into a pension-earning position until three years ago.

I met with a financial planner who asked why I wasn't retired now. He didn't seem concerned about my missing out on a pension. But I would really like to have it.
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 08:16 AM
 
Location: SoCal
13,307 posts, read 6,369,679 times
Reputation: 9937
Quote:
Originally Posted by josie13 View Post
I'm tempted to retire now, but I'm hanging in there because I'll be vested in a small pension in two years. It will be large enough to cover all my gas & electric, Internet, water & sewer, and telephone bills, as well as my HOA fees. The pension is small because I came late to government work and didn't get promoted into a pension-earning position until three years ago.

I met with a financial planner who asked why I wasn't retired now. He didn't seem concerned about my missing out on a pension. But I would really like to have it.
I did stay one year more for that reason. Very small amount, less than $500 a month, but it will be COLA. I don’t know if it will matter much with my spending, maybe enough to buy art supplies, but I absolutely understand why it’s hard to walk away just for that small pension.
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 10:23 AM
 
Location: Las Vegas
13,895 posts, read 25,355,967 times
Reputation: 26413
For me it was emancipation. Buying my freedom after decades of servitude. And it has been just as good as I thought it would be!
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 11:34 AM
 
3,949 posts, read 3,269,471 times
Reputation: 11361
What a great little pile of investment ads in that article. But, on the more serious side, retirement for many is a walk into the unknown, and that's one of the heavier consequences associated with a life long stint at work. We are walking away from the best paying job we will ever have, we often don't really know what we will do with so much time, some will feel "useless" and others simply lost in the maze of "empty" days, and that one nagging question-- will we have the money to just kick back and enjoy life?

Of course all of these fears are going to be weighed against the reality of work and it's effect on the body and mind, and that IS a known quantity for most of us. Working sets us up for worrying, layoffs, being fired, not getting a raise, performance issues, on the job relationships, nerve wracking commuting, yeah, there is a ton of things we can obsess about in the workplace. And that unfortunately includes the worrying about the end of work--forever. It's not uncommon to worry about one's retirement, but, knowing that allows some to move ahead and begin a new life.
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 03:12 PM
 
1,137 posts, read 571,621 times
Reputation: 4371
Quote:
Originally Posted by jertheber View Post
What a great little pile of investment ads in that article. But, on the more serious side, retirement for many is a walk into the unknown, and that's one of the heavier consequences associated with a life long stint at work. We are walking away from the best paying job we will ever have, we often don't really know what we will do with so much time, some will feel "useless" and others simply lost in the maze of "empty" days, and that one nagging question-- will we have the money to just kick back and enjoy life?

Of course all of these fears are going to be weighed against the reality of work and it's effect on the body and mind, and that IS a known quantity for most of us. Working sets us up for worrying, layoffs, being fired, not getting a raise, performance issues, on the job relationships, nerve wracking commuting, yeah, there is a ton of things we can obsess about in the workplace. And that unfortunately includes the worrying about the end of work--forever. It's not uncommon to worry about one's retirement, but, knowing that allows some to move ahead and begin a new life.
Good post. I guess I hadn't noticed how strong the feeling of my RIF layoff was, but I think I was always wondering if it could happen again. That stress is now gone...
Reply With Quote Quick reply to this message
 
Old 11-08-2018, 05:54 PM
 
Location: Ypsilanti, MI
2,455 posts, read 3,675,134 times
Reputation: 4840
Quote:
Originally Posted by jertheber View Post
What a great little pile of investment ads in that article. But, on the more serious side, retirement for many is a walk into the unknown, and that's one of the heavier consequences associated with a life long stint at work. We are walking away from the best paying job we will ever have, we often don't really know what we will do with so much time, some will feel "useless" and others simply lost in the maze of "empty" days, and that one nagging question-- will we have the money to just kick back and enjoy life?

Of course all of these fears are going to be weighed against the reality of work and it's effect on the body and mind, and that IS a known quantity for most of us. Working sets us up for worrying, layoffs, being fired, not getting a raise, performance issues, on the job relationships, nerve wracking commuting, yeah, there is a ton of things we can obsess about in the workplace. And that unfortunately includes the worrying about the end of work--forever. It's not uncommon to worry about one's retirement, but, knowing that allows some to move ahead and begin a new life.

Pretty much sums it up. Although I like my job, like my co-workers, get along well with my boss, the company does not do lay-offs (although there are a few employees for which this policy should be exempt!), daily commute is less than what I had for the previous 15+ years with less traffic too, the constant chase for a raise is no longer necessary at this point in my life, and I realize I am too old to be promoted.


One of my co-workers told me today that his Dad retired at age 67 last year (my co-workers are younger than my own sons) and had similar reservations regarding his retirement. No real club memberships or hobbies to occupy his time. But he discovered he loves being retired and is far busier than he expected!


I foresee no problem staying busy in retirement but my largest concern is whether our savings will truly be enough. Our financial Planner says yes. All of the retirement forecasting tools say yes. But I know there may be no do-over if things turn south unexpectedly. Although my current employer has a LOT of retirees working short hours (20 hours per week) because of the specialized skill sets and knowledge necessary, so a do-over is potentially possible if necessary.
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