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Old 09-04-2019, 07:50 AM
 
Location: Grove City, Ohio
10,195 posts, read 12,515,310 times
Reputation: 14200

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Quote:
Originally Posted by otterhere View Post
Has anyone else delayed retirement after becoming eligible simply because of indecision about what to do next? I feel foolish doing that, but I figure I might as well keep working and earning money until I figure out where I want to live and what I want to do with my time. If so, how did you finally reach a conclusion and formulate a plan for the rest of your life? I seem to be the only person I know without a blueprint or at least unwilling to jump off the cliff without one drawn up.
I am still working at 71 so I am still counting.

Biggest reason I am still working is I enjoy what I do but looking at the money... by delaying SS to age 70 I increased my monthly benefit by around $750 which is $9,000/year which will be exempt from federal and state taxes once I do stop work. But look at it this way... if we live another 20 years (one of us most probably will) that is exactly like having an additional $180,000 in savings after taxes. Over a four year period that is as if I saved $45,000 per year after taxes for retirement. To me, as one who didn't save like I should have, it was a no-brainer way to fix things.

Now I am working just because I want to.

Last edited by nicet4; 09-04-2019 at 08:25 AM..
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Old 09-04-2019, 08:59 AM
 
7,988 posts, read 4,524,423 times
Reputation: 11932
Quote:
Originally Posted by nicet4 View Post
I am still working at 71 so I am still counting.

Biggest reason I am still working is I enjoy what I do but looking at the money... by delaying SS to age 70 I increased my monthly benefit by around $750 which is $9,000/year which will be exempt from federal and state taxes once I do stop work. But look at it this way... if we live another 20 years (one of us most probably will) that is exactly like having an additional $180,000 in savings after taxes. Over a four year period that is as if I saved $45,000 per year after taxes for retirement. To me, as one who didn't save like I should have, it was a no-brainer way to fix things.

Now I am working just because I want to.
Absolutely, and that's my thinking. Unless and until retirement means you're bettering your life, why not keep earning money? No retail/part-time work is going to earn the same income and benefits as your current job. Here, however, I think it's unusual not to leave the minute you qualify, so people question it.

Last edited by otterhere; 09-04-2019 at 10:22 AM..
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Old 09-04-2019, 12:28 PM
 
Location: USA
1,134 posts, read 446,962 times
Reputation: 3124
Quote:
Originally Posted by nicet4 View Post
I am still working at 71 so I am still counting.

Biggest reason I am still working is I enjoy what I do but looking at the money... by delaying SS to age 70 I increased my monthly benefit by around $750 which is $9,000/year which will be exempt from federal and state taxes once I do stop work. But look at it this way... if we live another 20 years (one of us most probably will) that is exactly like having an additional $180,000 in savings after taxes. Over a four year period that is as if I saved $45,000 per year after taxes for retirement. To me, as one who didn't save like I should have, it was a no-brainer way to fix things.

Now I am working just because I want to.
Quick question: how does your health compare to your peers who retired? Has "work" contributed to a better mental and physical situation or not?

I remember a discussion I had years ago with an airline pilot who drove the shuttle vehicle for a local dealer. He stated that there was a group of five of them who retired at the same time. He stated that the two who started other jobs after retiring from their careers were doing much better physically than those who weren't as active. He attributed that to work. I'm curious of your situation and if you had noticed a difference.

Thanks!
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Old 09-04-2019, 03:46 PM
 
Location: Grove City, Ohio
10,195 posts, read 12,515,310 times
Reputation: 14200
Quote:
Originally Posted by k7baixo View Post
Quick question: how does your health compare to your peers who retired? Has "work" contributed to a better mental and physical situation or not?

I remember a discussion I had years ago with an airline pilot who drove the shuttle vehicle for a local dealer. He stated that there was a group of five of them who retired at the same time. He stated that the two who started other jobs after retiring from their careers were doing much better physically than those who weren't as active. He attributed that to work. I'm curious of your situation and if you had noticed a difference.

Thanks!
I am not as spry as I used to be but I still get around pretty well. I spend 60% of my time sitting in front of an AutoCad screen with the other 30% surveying existing commercial properties for retrofits/additions and sales.

I am licensed in Florida, Georgia, South Carolina, Alabama and live in Ohio so I do travel a good bit but seldom spend overnight which is good because I hate hotels.

I get to call my own hours; some days I might go into work at 5:00 AM to return at 9:00 PM and other days I might show up at 9:00 and work til 3:00 and take off. Nobody cares as long as I get the engineering done. On average I would guess I work 50 hours a week.

Home is 800 miles away so what I do is fly Delta back and forth a lot which the company pays for. I get a round trip about every two weeks so what I do is work 60 or 70 hour weeks when I am down south at work then cut back to 20 hours when I am back home.

I've seen other men my age who retired 5 years ago and looking at many of them I think I am in better physical shape than most. My mind is still good which is extremely important to me. Sometimes I forget where I laid my car keys but the doctor told me is I am not in trouble until I have the car keys in my hand and forgot what they are for.

Nobody need feel sorry for me because I am doing exactly what I want to do. If I wanted to retire I could tomorrow and we would be just fine so it really is my choice and a good place to be.
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Old 09-04-2019, 05:28 PM
 
Location: Scottsdale, AZ
8,280 posts, read 5,072,281 times
Reputation: 30367
Quote:
Originally Posted by k7baixo View Post
I remember a discussion I had years ago with an airline pilot who drove the shuttle vehicle for a local dealer. He stated that there was a group of five of them who retired at the same time.
The Bay Area is lousy with retired United pilots, LOL. I've met a few at some of the smaller airports like CVH (Hollister). Good times.

For those who don't know, federally mandated retirement age for airline pilots is 65. Kinda takes care of the whole "Should I retire or not?" dilemma.
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Old 09-04-2019, 05:39 PM
 
743 posts, read 227,454 times
Reputation: 1861
I would move now while you are still physically able to do so if it’s what you really want. Yes it will be hard with old dogs but we did it with 4 old dogs. There were 2 of us.
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Old 09-04-2019, 05:52 PM
 
Location: Scottsdale, AZ
8,280 posts, read 5,072,281 times
Reputation: 30367
Quote:
Originally Posted by otterhere View Post
My "interests, activities, and ambitions for retirement" lie elsewhere, as I'm living in a small town for my job (and formerly my family). Currently, they are in two large cities some distance away and, as I grow older, driving two to four hours in order to pursue my hobbies is getting to be a pain. I still participate, but not to the degree I did 5, 10, and 20 years ago. One of the critereon for the final destination is that those things be available where I live. And moving elderly, sick animals -- along with a household -- alone is no picnic. They can barely tolerate being "moved" across town to the vet's office, so the thought of packing them into a car and driving them across the country (to what destination if I can't go scout it out?) or putting them in the cargo hold of a plane is out of the question. Interesting that some see these complications as "excuses."
And yet BDL moved most of the way across the country with a passel of senior dogs. Despite a couple of mishaps, she made it:

Have Not Posted Lately Because...

Complications can be resolved. Usually all it takes is money and, well, resolve.
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Old 09-04-2019, 06:25 PM
 
Location: Florida
4,495 posts, read 3,825,350 times
Reputation: 4323
Your problem is common.
If you like your job and life style why rush retirement. You really have to have an idea of how you will fill your time and it will not be with your current working group of friends.
But you should start working on a plan. Do you think you will want to move. If yes then what area of the country, then what state, then the ocean or the mountains, what type of community, over 55 community etc etc. Do some traveling to various places. Remember you are not looking for a vacation spot but a home. Look at your retirement budget, include income taxes. I would try and visit over 55 communities for as long as they will let you so you can look around the area. Meet with the salesmen and find out all the info about activities, doctors etc and maybe even a question or two about home features as you age. You have lots of work to do so start that now. I would say retire at 70 if you need a target. Reason you get max social security at that age. If you can consider working from home during your last year or two. Maybe one week you go into work and 3 you are at a possible retirement spot. Or you stay put and work part time at your job to ease into retirement.
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Old 09-04-2019, 06:30 PM
 
Location: SoCal
14,013 posts, read 6,706,386 times
Reputation: 10673
Quote:
Originally Posted by fluffythewondercat View Post
The Bay Area is lousy with retired United pilots, LOL. I've met a few at some of the smaller airports like CVH (Hollister). Good times.

For those who don't know, federally mandated retirement age for airline pilots is 65. Kinda takes care of the whole "Should I retire or not?" dilemma.
I think airline pilots are exposed to lots of radiation and that maybe why.
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Old 09-04-2019, 06:34 PM
 
Location: USA
1,134 posts, read 446,962 times
Reputation: 3124
Quote:
Originally Posted by nicet4 View Post
I am not as spry as I used to be but I still get around pretty well. I spend 60% of my time sitting in front of an AutoCad screen with the other 30% surveying existing commercial properties for retrofits/additions and sales.

I am licensed in Florida, Georgia, South Carolina, Alabama and live in Ohio so I do travel a good bit but seldom spend overnight which is good because I hate hotels.

I get to call my own hours; some days I might go into work at 5:00 AM to return at 9:00 PM and other days I might show up at 9:00 and work til 3:00 and take off. Nobody cares as long as I get the engineering done. On average I would guess I work 50 hours a week.

Home is 800 miles away so what I do is fly Delta back and forth a lot which the company pays for. I get a round trip about every two weeks so what I do is work 60 or 70 hour weeks when I am down south at work then cut back to 20 hours when I am back home.

I've seen other men my age who retired 5 years ago and looking at many of them I think I am in better physical shape than most. My mind is still good which is extremely important to me. Sometimes I forget where I laid my car keys but the doctor told me is I am not in trouble until I have the car keys in my hand and forgot what they are for.

Nobody need feel sorry for me because I am doing exactly what I want to do. If I wanted to retire I could tomorrow and we would be just fine so it really is my choice and a good place to be.
Very good. Youíre right, itís a good place to be. I work because I want to but Iím seeing that I need something else to focus my attention. MrsK7 and I talked about my returning to my long distance cycling hobby. Thatís a bit risky because so many people arenít giving their driving their full attention.

The goal is to ride a 1200-km event in under 90 hours but to do that, you have to complete a series of rides of 200-, 300-, 400- and 600-km in under certain time limits. Iím hoping a particular group in FL will offer their brevet week in 2020. That would allow me to ride every qualifying event in the space of a week. Thatís 900 miles - thank goodness itís mostly flat. Then, Iíd return to FL for their 1200 event. Thatís 750 miles in under 90 hours. Iíve finished two in the past, one in 85 hours and the other, 88 hours.

Those events are as mentally challenging as they are physically challenging so itís a good goal to have. If I stick with it, thereís Paris-Brest-Paris in four years. 6,500 cyclists all in the same event. Iíll be over 66 but, thatís not old for long distance cyclists.
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