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Old 08-12-2019, 09:20 PM
 
Location: San Diego, CA
497 posts, read 388,108 times
Reputation: 1227

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Quote:
Originally Posted by trlhiker View Post
I plan to retire next year at age 56. Been working with the government for 33 years now and I am done. I have know so many people who waited to retire and either died before or shortly after they retired. There are guys I work with who are in the mid to late 60's and still working. I don't want that to happen to me. My wife is 62 and on disability so we want to have time together because you never know when the grim reaper will come calling.
Geez - I was about to reply with a nearly identical post...I'm counting down two more years to age 56, and plan to go out as soon as I can; like trihiker, I've seen far too many coworkers over the years who kept working long past when they could have retired, only to pass away within a few years after they finally did retire. I also can remember three coworkers who kept working when they could have been retired decades earlier and ended up passing away at their desk, at work. I long ago decided that wasn't going to be me.
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Old 08-13-2019, 04:10 AM
 
87 posts, read 21,855 times
Reputation: 125
Quote:
Originally Posted by AlmostSeniorinNJ View Post
I'm thinking about it myself, so I certainly wouldn't frown upon it. My only concern is being able to afford healthcare. I would just advise a person to do an HONEST assessment of their savings and assets before making that decision.
If you are retiring before 65 when you are eligible for Medicare, health care is a big ticket item. However, if you utilize the Affordable Care Act(Obamacare) there is no asset test, only an income test. Keep your income low enough and you will get a Premium Tax Credit toward the cost of your premiums. Once you turn 65 and are eligible for Medicare, there should be no problem, Medicare and a supplement. Utilizing a Marketplace Plan, the Affordable Care Act will be much less expensive than COBRA. That is exactly what we plan to do, husband is 62 1/2, I will turn 61 this October.
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Old 08-13-2019, 09:28 AM
 
Location: Massachusetts
17 posts, read 4,242 times
Reputation: 46
And Just as a Side Note, Retirement doesn't mean you just stay away from work in my mind... I think I always want to be connected in some way to earning and/or being involved. Retirement to me just means that I am not tied to a job because I need as much money as possible. Again, it's all about balance and quite frankly, doing what you want to do spending your time the way your heart desires. Perhaps only when we allow ourselves the freedom to choose will be be able to know our true self. Thinking of Grandma Moses Art Career as an example. https://en.m.wikipedia.org/wiki/Grandma_Moses
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Old 08-13-2019, 10:17 AM
 
Location: Kountze, Texas
271 posts, read 40,098 times
Reputation: 236
DH retired at 51 i n2013 and started a new career while I continued to work. I am not retiring early - I could in 1 year with 36 years with the Federal Government - but sticking it out until I reach 62 - in 7 years. DH might retire again at that point but I don't really know yet - it is too far away for now. I do want to travel in retirement - but mostly just to see family. My adult children are scattered as are my siblings. My mother is now just shy of 85 and she may not still be alive when I retire - so I'm going to visit her next year.
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Old 08-13-2019, 11:23 AM
 
Location: equator
3,680 posts, read 1,619,691 times
Reputation: 9183
Quote:
Originally Posted by lieqiang View Post
To be fair, most business owners can't take a month off, and most Americans who work for someone else can't either. The example of a month off for your daughter isn't really useful since it's very rarely attainable.
Yes, when we owned our printing co., we had no vacation for 8 years and often worked weekends.

In the U.S. most will get only a week or 2 off in a regular job.

Quality of life really improved with a seasonal job! Including unemployment for the off-season. We took off for the far West in winter.
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Old 08-13-2019, 02:54 PM
 
Location: Knoxville, TN
1,398 posts, read 639,185 times
Reputation: 3199
I am 62 and I retired last year. This morning I walked across the street to the neighborhood pool and swam laps for an hour. As I was floating on my back after I completed my laps, I thought, "gee, I could be at work right now." Regrets? None!
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Old 08-13-2019, 04:22 PM
 
3,088 posts, read 1,082,542 times
Reputation: 3446
Quote:
Originally Posted by lovetotravel15 View Post
If you are retiring before 65 when you are eligible for Medicare, health care is a big ticket item. However, if you utilize the Affordable Care Act(Obamacare) there is no asset test, only an income test. Keep your income low enough and you will get a Premium Tax Credit toward the cost of your premiums. Once you turn 65 and are eligible for Medicare, there should be no problem, Medicare and a supplement. Utilizing a Marketplace Plan, the Affordable Care Act will be much less expensive than COBRA. That is exactly what we plan to do, husband is 62 1/2, I will turn 61 this October.
Thatís assuming we still have the ACA.
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Old 08-13-2019, 06:43 PM
 
Location: Knoxville, TN
1,398 posts, read 639,185 times
Reputation: 3199
Quote:
Originally Posted by lovetotravel15 View Post
If you are retiring before 65 when you are eligible for Medicare, health care is a big ticket item. However, if you utilize the Affordable Care Act(Obamacare) there is no asset test, only an income test. Keep your income low enough and you will get a Premium Tax Credit toward the cost of your premiums. Once you turn 65 and are eligible for Medicare, there should be no problem, Medicare and a supplement. Utilizing a Marketplace Plan, the Affordable Care Act will be much less expensive than COBRA. That is exactly what we plan to do, husband is 62 1/2, I will turn 61 this October.
I have a brother who is a Republican and his wife is a Trump fan. They were against the ACA. Now he wants to retire early. He doesn't have a pension, so his income will be low, even though his assets are high. Guess who has changed his tune about the ACA....??
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Old 08-13-2019, 06:59 PM
 
Location: Haiku
4,477 posts, read 2,685,491 times
Reputation: 6561
Quote:
Originally Posted by beemee View Post
Anyone have thoughts on Retiring Early so they can travel, play or just chill...while you are still healthy. If you find you need more money later, get a little Job to support yourself!!
It's suprising how much we can live on if we are happy and don't feel the need to fill our lives with material goods etc..
You should go to the FIRE forum which discusses early retirement endlessly. For many people the idea of "getting a little job" when you are say, 70, because you ran out of money is not a good situation. But some people don't care. There is no one answer that works for everyone as to when to retire. We are all different.
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Old 08-13-2019, 09:26 PM
 
Location: Massachusetts
17 posts, read 4,242 times
Reputation: 46
Good for you!!
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