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I'm 61 will be 62 in July and will take social security. I took early retirement at 55 after working 33 yrs. at one company. I get a pension a percentage of my former pay. I stayed home awhile then went to work for Manpower for 4 yrs.
My living situation deteriorated so I moved to Wisconsin, no more job, bought a house/mortgage so I really need the social security. Going back to work, considering where I am and what is available not that easy.
Now the economic situation scares me but I'm here, glad I made the move and I have to hope that things straighten out a little bit with the economy.
At present (age 55 1/2) I have a full-time job that is relatively secure, and is really having a negative effect on life and health (third shift at a psychiatric hospital). I have an old-fashioned pension plan. I have considered going to part-time at age 63 or so and drawing my annuity then, waiting for full age (66 years) for Soc. Security. I would prefer to favor time over money, but my chances for longevity are pretty high and I really fear poverty more than I fear a lower quality of life while working myself on this shift grind. That could change, though, as I grind along. It's not a great sign that I think of "how many more years" every day, eh?
I know every laid-off worker in Michigan or anywhere would likely change places with me, and I never forget that. But I'm so tired on a day-to-day basis...
Every situation is different, even some geographic differences, but it seems in the present economy, if you have a job keep it. I run a small business, the future is uncertain, I looked into employment options and many places seem to not be hiring older workers. You have to calculate that you will not need more income than you presently have, and have faith that your company paying your benefits / pension will not reduce them or make cut backs. Many corporations are reducing medical benefits on retirement packages, after the people have retired. If it is possible to hang on to a job until medicaid kicks in, try to do it. 401Ks have taken a hit, Brightdoglover makes a good point with fear of poverty.
Please remember that federal healthcare at age 65 is MediCARE, not Medicaid. At present, it's still age 65, even if your full Soc. Security age is higher, as is mine.
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