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Old 11-29-2018, 08:12 AM
 
Location: Florida -
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I was thinking it might be easier to define "working," versus unwind the potential intricacies associated with "retirement."

However, there are an equal number of variables there. One could still "work" in their yard, at a hobby or at any other endeavor, yet still be fully retired, and vice-versa.

Perhaps a litmus test between 'retired' and 'semi-retired' is whether one is obligated to work for as wage, without which they would be unable to maintain their chosen lifestyle or healthcare level.

Last edited by jghorton; 11-29-2018 at 08:21 AM..
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Old 11-29-2018, 09:18 AM
 
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My situation is quite different than most (other than volunteer workers) - Officially retired from my career job after 32 years and now pick up some side work if & when I want to. I can not work for weeks and then pick up some work (up to 3 days per week) on a sign up basis. There is no minimum hour/workload that I have to put in (but I'm sure if I took off for 6 months, etc. I may not have the option to continue).

So...I guess I'd say I'm retired but I wouldn't say that if my "part time" job was structured and required me to be there on certain days/times.
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Old 11-29-2018, 09:39 AM
 
20,084 posts, read 11,147,574 times
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Quote:
Originally Posted by elnrgby View Post
But "retired" might have been defined differently in that study. I think it is realistically possible that the mean age of starting to draw SS is 63, since the overwhelming majority of SS recipients start drawing SS at 62. People who draw military or police pensions would also pull the mean massively towards lower ages, if they were included in the study, as those people commonly start drawing pensions in their late 40s.
The military is a young person's game, but they push people out of the military right at the point in life that personal financial obligations are at their peak. Military retirement pay is basically just a bridge to the income they theoretically could have been making had they never spent 20-25 years in the military.

The great majority of military "retirees" are still working full time until the conventional retirement age window of early-to-mid 60s, and need to.

Last edited by Ralph_Kirk; 11-29-2018 at 10:58 AM..
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Old 11-29-2018, 10:49 AM
 
7,794 posts, read 4,383,926 times
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Quote:
Originally Posted by jghorton View Post
I was thinking it might be easier to define "working," versus unwind the potential intricacies associated with "retirement."

However, there are an equal number of variables there. One could still "work" in their yard, at a hobby or at any other endeavor, yet still be fully retired, and vice-versa.

Perhaps a litmus test between 'retired' and 'semi-retired' is whether one is obligated to work for as wage, without which they would be unable to maintain their chosen lifestyle or healthcare level.
Are you not necessarily "retired" if you're receiving "retirement" income -- regardless of whether or not you go back to work either part- or full-time? In that case you'd be a working RETIREE.

Seems straightforward enough to me, but apparently open to interpretation...
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Old 11-29-2018, 11:00 AM
 
Location: Denver CO
21,159 posts, read 11,768,218 times
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I will consider myself retired when I start taking SS. But it's quite likely that I will still be working for pay, at least part time or more likely in a consulting capacity where I can take breaks and limit having to commit to any type of ongoing schedule. But as long as I enjoy my work and the mental stimulation I provide, I don't think that means I have to give it up entirely to consider myself retired.
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Old 11-29-2018, 11:56 AM
 
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If I'm no longer "takin' what they're givin' 'cause I'm workin' for a livin'" I'll be retired.

When I'm getting paid for what has mostly been my hobby, and I'm doing it when and how much I want, and I'm able to get by financially whether I do it or not, I'll consider myself retired.
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Old 11-29-2018, 11:56 AM
 
3,247 posts, read 845,371 times
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Originally Posted by Specific Point View Post
I read in the linked article that the average age of retirement is 63. I find that interesting but I could not find out a true definition of being retired. How do they get the statistic of 63?

https://smartasset.com/retirement/av...in-every-state

https://dqydj.com/average-retirement...united-states/

Are these friends of mine officially retired:

1) Left a full-time High School teaching job last year but now work as a part-time substitute and tutor and average 25 hours a week working for pay.

2) Left full-time work but now volunteer up to 40 hours a week for the United Way at no pay.

3) Left corporate America but work as a consultant and work 60 hours a week some months and other months not at all.

Are any of my friends above officially retired for statistical purposes?
Retired is your status from a given employer, if you want to keep things black and white.

Retired as you define yourself - well - that definition is more fluid.
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Old 11-29-2018, 01:27 PM
 
Location: Las Vegas
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I have worked off and on. Mostly to work on my kitchen remodel with an employee discount. But it's not a real job to me! I still consider myself retired!
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Old 11-29-2018, 01:31 PM
 
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Interesting that you can ask 30 people what is retirement and you get 30 different answers....
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Old 11-29-2018, 02:21 PM
 
Location: Eastern Washington
14,220 posts, read 44,887,015 times
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Quote:
Originally Posted by Specific Point View Post
I read in the linked article that the average age of retirement is 63. I find that interesting but I could not find out a true definition of being retired. How do they get the statistic of 63?

https://smartasset.com/retirement/av...in-every-state

https://dqydj.com/average-retirement...united-states/

Are these friends of mine officially retired:

1) Left a full-time High School teaching job last year but now work as a part-time substitute and tutor and average 25 hours a week working for pay.

2) Left full-time work but now volunteer up to 40 hours a week for the United Way at no pay.

3) Left corporate America but work as a consultant and work 60 hours a week some months and other months not at all.

Are any of my friends above officially retired for statistical purposes?

I think you would have to look at the "rules" of the organization that is reporting retirements. If it's a US Government entity, they no doubt have some published guidelines (which may or may not be readily find-able by people who don't work at the entity).



I will personally consider myself "retired" when I take my pension. If I retire after 65, I can work part time at the same employer subject to certain rules for about 2 years. So I could have pension income and still earn some wages, if that makes any sense.



There are grey areas, between working full time and being retired, not working for pay at all. People are not insects. You can count caterpillars and butterflies, but even then you have the pupa stage, how do you count a pupa that was a caterpillar yesterday, versus a pupa that is obviously about to open and reveal a new butterfly?
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