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.
I am the anomoly I guess. I am going to work 2 more years. At 55 I will retire and not look back. My wife will also retire and she will only be 53. Neither of us has any desire to "work" again. Will we find things to keep us busy, yes, but they will be what we want to do, when we want to do them.
I am through having someone else dictate to me what I can or can't do with my time.
Besides, other than my service in the military, jobs have always been a means to an end.
I work to live, not live to work.
I'm like you MG, except a few years down your road. I was so stressed and frustrated at my job. I had worked for my employer for 21 years with increasing responsibility in various positions as I moved up the ladder. Eventually I got to a point where I could see the management and the decisions that were being made and understood that I no longer wanted to be there. I retired at 51 and did not look back.
I loved the people I worked with but most did the same as I did. We retired almost as early as possible and went on with our lives. I do not feel diminished by my retirement, I did not lose my identity or self worth. Instead, I feel that I am finally blooming where I have transplanted myself to. There are things I want to do and at last I am free to do them. I have the time and, as long as I plan my spending carefully, I will have the money and the time to do them all.
If I ever find myself bored (not likely) I have numerous volunteer opportunities and it's just a matter of picking one and jumping in. I always loved real estate too, and might get a license and dabble in it for some extra dough if I get the urge. For now, I love just working on our last home that we hope to own, working on my golf game, getting myself back in shape, traveling locally, enjoying the feeling of not having to be anywhere unless I choose to.
I hope that anyone who WANTS to retire will find a way, and those who WANT to continue working are able to do so. I know for some it will not happen and that is a really sad thought.
I'm like you MG, except a few years down your road. I was so stressed and frustrated at my job. I had worked for my employer for 21 years with increasing responsibility in various positions as I moved up the ladder. Eventually I got to a point where I could see the management and the decisions that were being made and understood that I no longer wanted to be there. I retired at 51 and did not look back.
I loved the people I worked with but most did the same as I did. We retired almost as early as possible and went on with our lives. I do not feel diminished by my retirement, I did not lose my identity or self worth. Instead, I feel that I am finally blooming where I have transplanted myself to. There are things I want to do and at last I am free to do them. I have the time and, as long as I plan my spending carefully, I will have the money and the time to do them all.
If I ever find myself bored (not likely) I have numerous volunteer opportunities and it's just a matter of picking one and jumping in. I always loved real estate too, and might get a license and dabble in it for some extra dough if I get the urge. For now, I love just working on our last home that we hope to own, working on my golf game, getting myself back in shape, traveling locally, enjoying the feeling of not having to be anywhere unless I choose to.
I hope that anyone who WANTS to retire will find a way, and those who WANT to continue working are able to do so. I know for some it will not happen and that is a really sad thought.
TheShadow,
At 51 were you able to take full retirement or was it reduced? I ask because at 51 (8 years from now), I will have 30 years where I work. I believe that will be enough for full state retirement (51% of my highest three years' salary), but it won't be enough for the supplemental county retirement we have. From what I understand, at age 55 I will be eligible for the full supplemental which provides 25% of the highest three years'. At this point I have about 1,000 hours of accrued leave that can be applied for service credit.
Haha, I feel the same way. I think about how much I can't stand the b.s. every day. I can retire on 15 days notice to the retirement system, but I will need another job for a while to whack down debt. I have a commute of at least 90 minutes each way, so if I can find something closer to home that makes up the difference between my pension and my salary, that would be ideal.
I have to be careful at work because I'm starting not to care about expressing my opinions out loud.
LOL, it gets that way sometimes when you are contemplating retirement. Or when you've got it planned, but haven't informed your employer yet. Or when you have done so, and are just working up until your retirement.... my husband tells me in the millitary they call these folks "short-timers".
Of course, then there are the folks who want so badly to retire but either believe they can't, are afraid to, and have made no plans to do so, and they just keep working, dreaming of and wishing for retirement, and doing a half-aZZed job because they don't want to be there. Those folks are "retired in place", and I've worked with a few of them.
I quit working at a reduced rate to live, to get rid of the stress and my allergies and not just having to work just to pay the bills!
When early retirement was offered, I took it! So, I retired early and we moved overseas to get rid of the stress, my allergies and started to enjoy a comfortable retirement lifestyle while I was in my early 50s!
I'm now 66 and we're still enjoying our retirement lifestyle overseas after 17 years of retirement and still enjoying our freedom from no longer having to work anymore at an early age!
It does pay to be informed - I went to the State Retirement workshop - and learned that if you retire prior to age 65 - they discount your pension 7% per year for every year under 60 - and 3% per year for years 60-64.
There are people at my workplace - including one in HR - who did not know that.
I had coworkers retire in their 50's because they were tired and ready - but didn't know this little tidbit.
Was a real surprise when they started to get their pension checks.
With all the horror stories I read about employers coming up with any half-fast legitimate excuse to lay off people I'm glad I stuck it out with the Federal government. I have a friend who was short about 6 months to be eligible to retire from a private company job...was promptly laid off. Job security? Company didn't want to be burdened with having to pay her a pension. And to think friends and other acquaintances have been advising me for years that I should work for the private sector as they pay much better...ha! Last I checked, there was a job in the private sector that was nearly identical to the last job I held with the government...that paid half of what I was getting paid doing the same thing in the government!
On the topic of job security and retirement, by the way....even though I worked for different employers, with different agencies over the years...they were all counted as Federal service..all periods of employment...even if they were with different "companies" so to speak, counted towards the years I needed to retire. And my 13 years military service was added towards my total civilian service years! If you worked for a company in the private sector, say 15 years, then moved to another company and worked 20 years. Would you have been able to retire from the last company with 35 years of work time accumulated? Don't think so. Each time you move to a different company...you pretty much start all over again.
Working for private sector really better all the way around? Now if you were a CEO, or COO...or in high level management position...of course, those folks get all the perks and bucks!
And how many of those kind of folks you've heard of get laid off? When companies are in a financial bind...and need to cut down cost...why don't the highest paid executives volunteer to lay themselves off to save the company money? You know the answer.
I have heard a lot of bad mouthing about what's wrong with working for the Government...but I am ever so grateful I did...and stuck it out. I am now retired...for the 3rd time...from the Federal government. I am ready to go back to work at the next opportunity. For the government, of course. I am not really ready to stay retired yet. Looking for a job? Browse the Federal job website and see if there is one there for you. Last I checked this morning...there were several hundreds worldwide.
It does pay to be informed - I went to the State Retirement workshop - and learned that if you retire prior to age 65 - they discount your pension 7% per year for every year under 60 - and 3% per year for years 60-64.
There are people at my workplace - including one in HR - who did not know that.
I had coworkers retire in their 50's because they were tired and ready - but didn't know this little tidbit.
Was a real surprise when they started to get their pension checks.
For me, the Earliest Unreduced Retirement Eligibility:
You become eligible for an unreduced retirement benefit at age 65 with at least five years (60 months) of service credit or at age 50 with at least 30 years of service credit.
At age 50 I'll be finishing my 29th year, so at 51 with 30 years the state is unreduced. That's how I understand it. With a few more years the county retirement is unreduced.
For me, the Earliest Unreduced Retirement Eligibility:
You become eligible for an unreduced retirement benefit at age 65 with at least five years (60 months) of service credit or at age 50 with at least 30 years of service credit.
At age 50 I'll be finishing my 29th year, so at 51 with 30 years the state is unreduced. That's how I understand it. With a few more years the county retirement is unreduced.
Here's my situation. I retired at age 49 with 30 yrs of government service receiving only 42% of my Civil Service retirement with a monthly $250 penalty for 6 yrs. At age 60 my USAFR military pension kicked in and then my SSA at 62 at a reduced rate due to the government offset aka "Windfall" something of the sort. But after 17 yrs of COLAs and with my combined retirement income, is more now than when I was working full time! Just fortunate it worked out for me! I have no complaints!
It does pay to be informed - I went to the State Retirement workshop - and learned that if you retire prior to age 65 - they discount your pension 7% per year for every year under 60 - and 3% per year for years 60-64.
There are people at my workplace - including one in HR - who did not know that.
I had coworkers retire in their 50's because they were tired and ready - but didn't know this little tidbit.
Was a real surprise when they started to get their pension checks.
It blows my mind that people could retire without even having looked into what there pension was going to be. Stupid doesn't do justice to it. Brain dead might come close. I don't feel a bit sorry for them. It defies all common sense to assume that a pension is a pension no matter at what age one retires.
It blows my mind that people could retire without even having looked into what there pension was going to be. Stupid doesn't do justice to it. Brain dead might come close. I don't feel a bit sorry for them. It defies all common sense to assume that a pension is a pension no matter at what age one retires.
Oh, I could tell you ridiculous stories about more people (college educated) than I have finger and toes
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.
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.
