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 10-18-2009, 08:47 PM
 
Location: Texas
15,891 posts, read 15,287,525 times
Reputation: 62655

Advertisements

Quote:
Originally Posted by Curmudgeon View Post
I breathed a sigh of relief when I hit 60 after having seven friends and coworkers, male and female, all die in their 50s. I determined years ago that the best guarantee of a long life was to survive that particular decade. Now, at 63 and retired, my life is calm and peaceful and we have no particular financial woes so I think we'll both be fine.
I'm the same way. I retired at 60. I'm living in my debt free house and loving life every single day. I still meet the gang from work (I worked for the same agency for 37 years) for lunch every couple of weeks and come away feeling like I am the luckiest person in the world because it is the "same old, same old" at work and I no longer have to deal with it.

Life is fun. Sleeping late is fun. Staying up late is fun. Doing whatever I feel like doing, when I feel like doing it is absolute heaven.
Reply With Quote Quick reply to this message

 
Old 10-19-2009, 06:12 AM
 
Location: Duncan, Oklahoma
2,601 posts, read 1,230,463 times
Reputation: 2011
KETABCHA, I agree with you entirely. We retired at 55 this past May, and my husband and I are living in our debt free house and loving life every single day. He goes to the golf course daily (which was his "Dream Retirement Plan"), and I stay at home reading, watching TV, sleeping late, running errands, puttering around the house and garden, or doing just whatever I want to do. We are planning several trips for the future, and are going to Savannah, GA, next week--a place we've always wanted to see. On this trip, we will have no time plan, and we will get back home whenever we feel like it. While I don't meet the gang from school for lunch anytime (I swear I'll never set foot in a school again!), I do have two close friends who are still teaching, and I stay in contact with them through email. Like you said, it's the "same old, same old" at school. My friends are slightly envious of my life now, and they can't wait to retire. I can't wait till they can, too! I want them to experience retirement while they are still able to enjoy it.
Reply With Quote Quick reply to this message
 
Old 10-19-2009, 09:57 AM
 
Location: Edgewater, Florida
883 posts, read 459,600 times
Reputation: 909
When I retired and had no kids living at home with their kids my retirement money went a long way
not anymore
and I do not even have credit cards or a morgage to pay
Reply With Quote Quick reply to this message
 
Old 10-19-2009, 10:00 AM
 
Location: Sierra Vista, AZ
16,133 posts, read 20,812,641 times
Reputation: 8293
Quote:
Originally Posted by John1960 View Post
Older Americans are heading into and through retirement with a boatload of debt. They're carrying everything from mortgages and home-equity loans to big credit-card balances, and many are finding the burdens harder and harder to bear. In the last eight years, the over-55 crowd has become the age group most likely to declare bankruptcy, according to the AARP.

Why Retirees Are Increasingly Declaring Bankruptcy | Newsweek Personal Finance -- Retirement | Newsweek.com
Many are not declarin bankruptcy because they are broke. They are declaring bankruptcy because they are greedy. They bought a second house and let the upside down one go into forclosure. They then picked up their sign and went out to protest high taxes from the government that was stuck cleaning up their mess
Reply With Quote Quick reply to this message
 
Old 10-19-2009, 04:34 PM
 
11,227 posts, read 11,251,267 times
Reputation: 3445
Notice the article mentions a bankruptcy attorney who advises any retirees who are having a tough time paying their CC debt to just walk away from it if they have a judgment-proof retirement account, saying they'd be further ahead doing that than going through the bankruptcy process. He advises retirees to just let the creditor sue and then tell them that all they have is an account that cannot be touched in court so go ahead and sue but just stop pestering them with calls. How's that for lawyers giving responsible legal advise!
Reply With Quote Quick reply to this message
 
Old 10-19-2009, 06:23 PM
 
29,764 posts, read 34,848,700 times
Reputation: 11675
Quote:
Originally Posted by thrillobyte View Post
Notice the article mentions a bankruptcy attorney who advises any retirees who are having a tough time paying their CC debt to just walk away from it if they have a judgment-proof retirement account, saying they'd be further ahead doing that than going through the bankruptcy process. He advises retirees to just let the creditor sue and then tell them that all they have is an account that cannot be touched in court so go ahead and sue but just stop pestering them with calls. How's that for lawyers giving responsible legal advise!
It is responsible legal advice. They are lawyers hired to minimize the impact on their clients and to maximize their assets. Their pastor is the best person for the advice you are suggesting.
Reply With Quote Quick reply to this message
 
Old 10-20-2009, 03:50 AM
 
71,463 posts, read 71,629,249 times
Reputation: 49027
Quote:
Originally Posted by educator1953 View Post
KETABCHA, I agree with you entirely. We retired at 55 this past May, and my husband and I are living in our debt free house and loving life every single day. He goes to the golf course daily (which was his "Dream Retirement Plan"), and I stay at home reading, watching TV, sleeping late, running errands, puttering around the house and garden, or doing just whatever I want to do. We are planning several trips for the future, and are going to Savannah, GA, next week--a place we've always wanted to see. On this trip, we will have no time plan, and we will get back home whenever we feel like it. While I don't meet the gang from school for lunch anytime (I swear I'll never set foot in a school again!), I do have two close friends who are still teaching, and I stay in contact with them through email. Like you said, it's the "same old, same old" at school. My friends are slightly envious of my life now, and they can't wait to retire. I can't wait till they can, too! I want them to experience retirement while they are still able to enjoy it.

we are doing the same, retiring next year at 58.. we are planning a nice month long trip , not sure where yet but we are going .....

already bought our retirement home in the pocono mountains and will re-locate from new york city.

our plan is then to rent a furnished apartment for the winter every year somewhere else in the warmer parts of the country.
Reply With Quote Quick reply to this message
 
Old 10-20-2009, 11:38 AM
 
Location: So. of Rosarito, Baja, Mexico
6,652 posts, read 18,665,355 times
Reputation: 6101
Read quite a few of the posts here.

Recall back while in my early 60's and a business I worked many hrs every day.

New a person also in business that was a few yrs younger then me...worked many hrs and then had a stroke and died a few months later.

This got me thinking...what for?...then decided that the money was NOT that important...waited till I was 62 and applied for early SS.

Cut down on my working schedule and hrs per day and started to relax more.

Today I'm 78...had some medical problems...normal for my age (male) and am still hanging in there.

Hope that I'm an inspiration to some out there who might be on the verge of SS.

Steve
Reply With Quote Quick reply to this message
 
Old 10-20-2009, 12:47 PM
 
Location: Boca Raton, FL
5,161 posts, read 8,684,984 times
Reputation: 6157
Smile From 55 to ??

My in-laws were always frugal and struggled. I look back now and realize they actually started saving more after they retired and quit working!

It looks like they started really doing this more around the age of 65 (his) and 59 (hers) so don't give up!
Reply With Quote Quick reply to this message
 
Old 10-20-2009, 01:07 PM
 
Location: UK
296 posts, read 730,101 times
Reputation: 316
I will retire at 60, in 3.5 years, 3 years short of when I can get SS but I have saved to cover me until that time.

I will have no debt whatsoever and will own my modest home. My needs and wants are minimal, walks in the park, visits to the library, enjoy a few concerts, do some volunteer work, etc etc. My travel days will be over - no more airports. I have plenty to keep me busy over the next three years with my retirement planning. I do not want to wish my life away, but I am looking forward to a nice, very simple and quiet life in retirement.
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