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Post by magnumwheelman on Jan 17, 2017 8:41:13 GMT -5
when or how did you decide to retire??? got my 401K statement yesterday, & of course on it, it said if I retired now, I'd get "X" dollars per month ( about 1/4 of what I'd need to survive without working ) so... off to work I went this morning... however I may decide it's time, the day I can 1st draw a social security check... by then my 401 K will be larger, & my life span shorter or... perhaps much sooner, if they should decide to install a couple windmills on our property, which would in effect double our cropland rental... ( not counting on it during Trump's presidency though ) anyway... it's ( retirement ) is starting to cross my mind... curious when or what you met or attained that you felt allowed you to retire??? I'd like to get there while I still have the ability to do a few things I'd like to, before they put me in a home  |
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Post by AxeHandle on Jan 17, 2017 8:51:16 GMT -5
Retired one time at 20... Ran the civil service career to 37 and planned to do 5 more but the work environment became to acidic. Retirement to do nothing does not compute for me. If you don't have something to do you will just die. The big thing is to retire on your schedule. I went to work part time as a Range Safety Officer and instructor. It has evolved to pretty much a full time gig. Bottom line is I'm now getting up to do what I'd do every day of my life if the wife would let me!  |
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Post by magnumwheelman on Jan 17, 2017 8:58:02 GMT -5
I design & build stuff all the time, & my mind is always burning up, if I don't have something else to concentrate on ( so no sitting around for me after I do retire )
I just think I need to get any major items purchased & paid for, so I'm not wasting my retirement funds on interest on a high dollar purchase... so after I get my hot rod SS Sedan paid for, by then MRS will need a new car, then after that is paid off... I might be able to make that leap... that would put me working until about 65 or 66... wish it was sooner
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Post by boolitdesigner on Jan 17, 2017 9:43:15 GMT -5
Don't wait too long........ I retired at 58 and am enjoying life. Have everything bought and paid for. Make sure you can live and not scrimp along though.
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Post by sheriff on Jan 17, 2017 10:19:45 GMT -5
I retired at 56 after 31 years 'in harness'. Had all my 'ducks' in a row and was able to enjoy life before the eyes and hearing faded.....
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Post by Rimfire69 on Jan 17, 2017 10:26:46 GMT -5
I'm not there yet, but think about it nearly every day. We had Chinese food on the weekend and my fourtune cookie said I would have a very comfortable retirement, so I'm going with it. Comfortable to me would be walking around in the desert sixgunning jack rabbits till my legs can't carry me any further.
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JM
.375 Atomic
Posts: 2,424
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Post by JM on Jan 17, 2017 10:36:47 GMT -5
Try to retire while you are still young & healthy enough to enjoy your time.
I've seen too many men work & then die in their mid-fifties.
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Post by ChiefTJS on Jan 17, 2017 10:50:49 GMT -5
I retired ten years ago and now I only work 40hrs a week.
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Post by magman on Jan 17, 2017 11:22:25 GMT -5
My retirement is anywhere between 4 months and 3 years. Hardest part is convincing the wife.
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Post by needsmostuff on Jan 17, 2017 12:46:42 GMT -5
My retirement was not on my schedule but turned out to be one of the better things that has happened . Two years before I could hit SS I was invited into an office and informed my job title no longer existed. Seems what I did would be done by outside contractors going forward. They (the company I worked for 26 years )said I could re-apply for another job in the company (no guarantee) and I said Adios.
I went home and explained it to my wife and she (the keeper of the books ) said no problem. And it has not been , ever.
What has made this possible is that we have always lived below our means which enabled us to pay off the house 15 years ago and not have car payments. THAT is the key to early retirement. If you feel obliged to maintain large monthly bills you will NEVER get retired. If you see it coming simplify now.
I now get my SS payment and the wife recently hit the age to get hers so that was like getting a raise. With out pmts.to be made it's amazing how little money you need to get by . I still have decent cars and money to get new guns and go shooting. I just don't take cruises to Hawaii.
Do it when you can and never look back. Plenty to do every day and you will never be bored as it is stuff YOU want to do.
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Post by boolitdesigner on Jan 17, 2017 13:06:11 GMT -5
^^^^^^^^^^^^^^^^^^^^^^ Great advice above.
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paulg
.375 Atomic
Posts: 2,420
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Post by paulg on Jan 17, 2017 17:40:22 GMT -5
I'm 51, six years ago my wife and I paid our home off. Last year I sold my 2014 Nissan Titan and bought a 2003 Ford Ranger with 9,000 miles on it. It's paid for. Since my wife is a Customer Service Manager for a local Nissan dealership she gets very good rates on her lease cars which equals low monthly payments. This year we are replacing our 1995 vintage central air system. Next year will be a new metal roof. The following year will be new windows. We will have all major repairs on our home done before I hit 60, home paid for as well as vehicles. A substantial amount of our income is put in savings and invested in 401K plans each pay period. My wife is a whiz with money and saving. God willing we will be set to retire by our early to mid 60's. Then, by God, I will travel and meet some of the fine men I've come to know through this forum. Needsmostuff hit the nail on the head.
Paul
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Post by doninnh on Jan 17, 2017 23:30:30 GMT -5
Well at 85 I have forgotten how many times I have retired and unretired seems like if you like what your doing you can often turn it to make a buck or two. Don K
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Post by sixshot on Jan 18, 2017 4:51:57 GMT -5
Worked at the same place for 34 years & always figured I would work until I was 65 but when they started bringing in outside management people things really took a turn for the worse & I left at 61. Been retired for 11 years now & have loved every minute of it. I had a salaried company position so the pay was good & the retirement was good but those poor hourly guys really had it rough once outside people started taking over.
My son emailed me a study about retirement & how long people lived after retiring at certain ages & it really opened my eyes, sure wish I had kept a copy of it. I know I retired within a year after reading it. I also remember that a fair number of people I worked with died with 2 years of retiring, especially those that waited the longest. Health is more important than money!
Dick
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Post by Robster on Jan 18, 2017 5:28:24 GMT -5
I hope to retire and spend my days in a tiny cabin with two good horses, three good hounds and a cur. Spend my days running lion and bear with hounds, shooting jack rabbits and touring the desert southwest out of my wall tent as a base camp. Might just have to invest in some brewing equipment before I retire though.
My daughter s already in college and my son is 16 and tenth grade. in 3 years he will be off to college. that's when I will start seriously thinking about it. about the time I turn 50. Part time work at sporting good stores or gun shops, maybe work for a local guide or outfitter as a camp cook with my dutch ovens.
Sell my house here, pay off debt and have working capital to get re-established.
That's my retirement dream.
I guess it all comes down to how you want to recreate yourself and your life or if you want to keep your life status quo to pre-retirement conditions. Only change being you do not go to work during the day.
Good luck and I hope your retirement comes soon with plenty of years to enjoy!!!
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