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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,694 posts, read 58,004,579 times
Reputation: 46171
Since I like to work hard and play hard...
I take temporary gigs doing something that interests me, or is beneficial to my retirement. (International assignment - free travel)
Retire early, Retire often.
The plan is to make it to age 62 and get the National Parks pass, beyond that is gravy... I have met lots of retirees who enjoy temp jobs in National Parks.
I retired at 50. The week after I retired I was offered a part time job at a Farmer's Market working 20 hours a week, primarily weekends and one day during the week. It would have been somewhat fun, but I didn't want to be tied to a schedule, so I turned it down. No regrets.
I had a P-T city planning job for seven years and it was arranged in a way that I could set my own 19-hour schedule, always had 3 or 4 day weekends, didn't supervise anyone (yay!) and didn't have to attend boring meetings (Yay!). Pay and benefits were next to nothing, just pocket money, but I had social connections and was out in the community almost every day. My retirement supplied my health care and ample income. I retired at 52 and I'd do the P-T job again if just for the social connections, autonomy and outside work after being in an office for thirty years. I was not drawing SS at the time but the small amount of income wouldn't have made much of a difference, if any.
I just turned 62 and hadn't worked since I was about 50. Just last year I posted on here how bored I was now that I live in a condo because there wasn't much to fill my time up without a lot of extra money available. Fortunately my niece's employer needed somebody two days a week from 11 a.m.-5 p.m. to help out in the office. His daughter works the other 3 days. I started in May and make $11 an hour for 12 hours a week. Sometimes I might work an extra day here or there if the boss and his family take a vacation. The work is pleasant enough and I'm not so bored.
The problem with retirement is you can get into a rut especially after the first couple months of freedom from having to be somewhere.
I think this is a very personal decision with both financial and emotional aspects.
1. Taxes? How much of your gross will go to taxes? Don't forget the SS penalty.
2. How much net income in $ will you make.
3. Do you like working?
4. Do you like the job/hours, etc.?
For me (now age 68.25)
° I took SS at 68. The money is divided unevenly between vacation travel and taxes.
° I plan to work for another 18+ months. The money is good and I work from home. And, every day I work is one more day that I don't withdraw money from my IRA.
° I really don't know what I going to do at age 70.
I say enjoy doing what you want. I retired at 57 as a power plant engineer (5 years ago). About three years into my retirement I was asked to come back for some short term (30 days) contract work. I really wasn't interested in going back but thought I would help out. After about a week I quickly remembered why I left in the first place (very demanding job). I finished my contract but will not repeat that ever again. I have enough things to do and hobbies to keep me busy so unless you are strapped for cash or have no outside interest, I'd recommend you enjoy your "delicious freedom!" Good luck.
Lou
That bit about ''get up and go when I want to is paramount'' for sure. ''No more stinkin' leashes!''
Don't care if I have to eat ramen, at least I'm free!
And yes, I have places to go: the golf course, yard sales, the bike path, the book stores, the fishin' hole....LOL
The Universe sort of retired me at 53. I moved 2500 miles in 08, everything crashed and I was unable to find work. Since then I have picked up a McJob now and then but that's it. Honestly the pay is so bad and no benefits that it's not hardly worth showing up. Plus those McJobs are hard work. Standing and running all day is tough on an old person.
Sad to say but tech moved on without me and I am probably not qualified for the jobs I did for years. That's just the way it is. Plus people don't want to hire old people for tech jobs.
If I could find a job that paid even half way decently, I would go back to work. I still have a lot of work to finish on my house that I just can't afford unless I have more money coming in. But it's not worth it for $8 per hour and no benefits. And those are pretty much all the jobs here.
I agree those jobs aren't worth pursuing for what they pay. And at this point I am very picky about how I spend the years I have left.
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