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Among those who retire from the military, there is an assumption that we all have an assortment of disabilities.
Some portion of the process to decide if it is time to retire will hinge upon exactly how disabled are you.
If I were to pursue any further career field, I would need to avoid triggering any of my pre-existing disabilities.
The luxury is that you retired at, what, 42? That's plenty young enough to start a second career and the pension could then augment that income substantially beyond what a typical private sector colleague could earn just from their day job.
No, but I had crafted the experiences and credentials to make myself as attractive as possible to new employers within my work niche. I was surprised that it required 6 months for me to find a new job at age 56. Luckily I started searching 4-1/2 months prior to my final work date.
Those days of retiring with a gold watch and a company party are so long gone.
I chose to retire at age 56 because I could see the handwriting on the wall that I would be released in the next head-count reduction strictly because of my 38 years of seniority. I never got a gold watch, all I received were paper certificates every 5-years printed with my seniority level. I was instructed by a well connected co-worker to never display any certificate issued for more than 20 years of seniority.
The three of us who left on the same date received an impromptu Pizza Party, minimal planning, no advance notice to invite spouses, and I am not a fan of pizza.
From my present employer I will receive a table lamp constructed from an old electric meter. I am enough of a Steam Punk to find these cool and attractive, but I will need to order the lamp myself as no managers here will do more than authorize the modest expenditure.
This is a timely discussion for me, the manufacturing plant I work for is closing and my last day is the end of February. I'm 58, and THINK I can retire... but it is scary for me in many ways. I'm in better shape financially than most of the other 600 employees.
Wish me luck, Rg
Good luck my friend. I'm sure the biggest feeling is that of uncertainty but, as everyone here will attest, it seems to work out for those who are even somewhat prepared. You sound like you're ready so I'm sure you'll be fine!
I had planned to retire at 62, so 58 isn't that much ahead.
In the land of retired or retiring people , 4 or 5 years ahead of schedule is considered a LARGE deviation.
That's what I think anyway.
It's similar, for many people, that retiring at age 62 (when one can begin collecting Social Security, if one wishes) and retiring later or at one's Full Retirement Age of 66 or 67 - is very different in the minds of many people.
In the land of retired or retiring people , 4 or 5 years ahead of schedule is considered a LARGE deviation.
That's what I think anyway.
It's similar, for many people, that retiring at age 62 (when one can begin collecting Social Security, if one wishes) and retiring later or at one's Full Retirement Age of 66 or 67 - is very different in the minds of many people.
I can see where it could be. If someone's retirement depends on drawing social security, or if they don't have a plan for health care, or if they haven't saved money for retirement. I have a plan that addresses all of these issues. My father got early onset alzheimers at 62 so I've always been planning to retire at 62. I've been planning that for the last 20 years, so I have given it a lot of thought!
I know I get funny looks when people ask me what my plans are for when the plant finally closes, I'm better off saying I'm not sure than I am saying I'm going to retire. I've been lucky, I've worked hard on my plan, and I'm thankful my wife and I have always been on the same page on saving and debt.
Would I be better off if I worked 4 more years? Probably, but I hate the idea of looking for an engineering job in my late 50's.
I could have retired comfortably in my late 50s, but I'm glad I didn't have to do so. Health insurance costs probably would have been excessive, even with ACA. I waited until I could get Medicare and a cheap supplemental policy, and my retirement funds exploded in value those extra years. I am now able to live more than comfortably - without being "wealthy."
Would I be better off if I worked 4 more years? Probably, but I hate the idea of looking for an engineering job in my late 50's.
Good luck, Rg
Been There and Done That. Nuclear Power seems to have an abudance of older engineers - some in their 80's! Nuke is where I landed at age 56. A true learning experience.
Best of luck to you!
I retired 20 years ago this March. I am currently 55. I then became a stock trader for 12 years and now I am done chasing the dollar. I found out I will never catch it. My wife works though by choice. She likes it.
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