If you can't buy time, should you retire as early as possible?
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Originally Posted by Cujet
Originally Posted by LoneRanger
Problem I have, is maintaining that "purpose" thing that's been discussed already in this thread.
You clearly have interests. I've read many of your posts. Why would your interests change at retirement? In fact, if you retire early, you could spend more time doing the things you like while you are still able. What's not to love about that?
Find a new purpose.
Originally Posted by LoneRanger
Problem I have, is maintaining that "purpose" thing that's been discussed already in this thread.
You clearly have interests. I've read many of your posts. Why would your interests change at retirement? In fact, if you retire early, you could spend more time doing the things you like while you are still able. What's not to love about that?
Find a new purpose.
I actually enjoy my work so if I was at a point where retirement was possible, I wouldn't do it just yet. I work a relatively stress-free job in an office building and my work doesn't interfere when I want PTO. However, I do agree that you can make money back, but you can't make time back. Enjoy life while it lasts because it could easily end before one even makes it to retirement.
My goal is absolutely to retire ASAP, but realistically, I'm going to have to work at least into my 50's if I don't just drink myself to death first or have a death by misadventure or something.
Originally Posted by Alfred_B
There was an actuarial study I read once. People who retired at 55 had on average 25 years of retirement, and people who retired at 65 had on average 18 months of retirement.
And here is a counterpoint: a research study that suggests working slightly longer (age 66) can result in a longer life: https://hbr.org/2016/10/youre-likely-to-live-longer-if-you-retire-after-65
Research and statistics can be bent to "prove" anything. If you take time to read my link, their conclusion is that SOME people benefit from early retirement and SOME people benefit from working longer. Their hypothesis for extended life is that some jobs encourage longer mental and physical health.
The key is choose what meets YOUR needs and wants. Each individual should dig deep to learn which will REALLY meet their needs. Then, pursue your later years properly, whether it is continue working, retiring, or something in between. We can all cite examples of good and bad outcomes with either choice.
Today's generation will probably have to work/plan harder and smarter to achieve the retirement opportunities most of us baby boomers have.
There was an actuarial study I read once. People who retired at 55 had on average 25 years of retirement, and people who retired at 65 had on average 18 months of retirement.
And here is a counterpoint: a research study that suggests working slightly longer (age 66) can result in a longer life: https://hbr.org/2016/10/youre-likely-to-live-longer-if-you-retire-after-65
Research and statistics can be bent to "prove" anything. If you take time to read my link, their conclusion is that SOME people benefit from early retirement and SOME people benefit from working longer. Their hypothesis for extended life is that some jobs encourage longer mental and physical health.
The key is choose what meets YOUR needs and wants. Each individual should dig deep to learn which will REALLY meet their needs. Then, pursue your later years properly, whether it is continue working, retiring, or something in between. We can all cite examples of good and bad outcomes with either choice.
Today's generation will probably have to work/plan harder and smarter to achieve the retirement opportunities most of us baby boomers have.
Originally Posted by billt460
Retire just as soon as you are financially able to. Have you ever met anyone, who on their death bed said, "God, how I wish I only had worked longer".
Well said. For me, this is the bottom line.
So why am I working? Bonehead!
@Cujet - Thanks for your courageous words. Your point is well taken.
I wish you health.
I will probably be done working soon, as the Symantec Enterprise BU has been sold to Broadcom.
I will definitely miss the challenge, but there are important volunteer large scale projects I am interested in.
Nobody writes code for non-profits... But I do.
Retire just as soon as you are financially able to. Have you ever met anyone, who on their death bed said, "God, how I wish I only had worked longer".
Well said. For me, this is the bottom line.
So why am I working? Bonehead!
@Cujet - Thanks for your courageous words. Your point is well taken.
I wish you health.
I will probably be done working soon, as the Symantec Enterprise BU has been sold to Broadcom.
I will definitely miss the challenge, but there are important volunteer large scale projects I am interested in.
Nobody writes code for non-profits... But I do.
People should work as long as they feel like it. My grandfather worked as a bag handler for an armored car company well into his mid/late 70's simple because he didn't want to hang around my grandmother all day.
Originally Posted by wag123
Without having a pension, early retirement is out-of-the-question for most people.
Without a pension AND medical plan, early retirement is out of the question for most people.
Without having a pension, early retirement is out-of-the-question for most people.
Without a pension AND medical plan, early retirement is out of the question for most people.
We will die when we are going to die . Work has little to do with in. That being said the real question of concern should be will I actually have enough money to retire? What is the life style ,buying new cars and boats every two years? Traveling nonstop, buying a Harley , the Harley garb and $4000.00 in tats so when you cruise the neighborhood you think you look cool? Make sure the money it there. I retired when I was 48 and still wonder If it was proper even though I have enough income .
Originally Posted by billt460
Retire just as soon as you are financially able to. Have you ever met anyone, who on their death bed said, "God, how I wish I only had worked longer".
I have a dear friend that was an AP mechanic at United Airlines San Francisco. He was saying he loved the aircraft and missed being able to taxi the jets around. I understood.
Retire just as soon as you are financially able to. Have you ever met anyone, who on their death bed said, "God, how I wish I only had worked longer".
I have a dear friend that was an AP mechanic at United Airlines San Francisco. He was saying he loved the aircraft and missed being able to taxi the jets around. I understood.
Originally Posted by bubbatime
Men are designed internally to need worth. If they dont build something, manage something, work at something, then internally they dont feel worthy. Its a psychological thing. Basically, lots of men that retire dont feel like they are living a full life and just feel like they are spinning their wheels, wasting time.
Nonsense.
It's all based on the social structure you are born into/ keep around as you age. These groups of people will determine the decisions you make in your life.
If you choose not to do the same as them, you will be ostracized.
Men are designed internally to need worth. If they dont build something, manage something, work at something, then internally they dont feel worthy. Its a psychological thing. Basically, lots of men that retire dont feel like they are living a full life and just feel like they are spinning their wheels, wasting time.
Nonsense.
It's all based on the social structure you are born into/ keep around as you age. These groups of people will determine the decisions you make in your life.
If you choose not to do the same as them, you will be ostracized.
AZjeff
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It's good to see that BITOGers far exceed the published stats about most Americans not saving nearly enough for retirement based on the responses. Or is it that only those who have saved tend to respond?
The majority of financial experts recommend not taking a 25% pay cut by taking SS at age 62&1/2 if SS is important to your retirement. It may work now but if you live into your 80s you're likely going to really need that extra money.
Everyone has anecdotes about people who died the day after they retired but we don't talk much about the people who weren't prepared , retired early while they were healthy and now live in survival mode.
The majority of financial experts recommend not taking a 25% pay cut by taking SS at age 62&1/2 if SS is important to your retirement. It may work now but if you live into your 80s you're likely going to really need that extra money.
Everyone has anecdotes about people who died the day after they retired but we don't talk much about the people who weren't prepared , retired early while they were healthy and now live in survival mode.
Originally Posted by AZjeff
It's good to see that BITOGers far exceed the published stats about most Americans not saving nearly enough for retirement based on the responses. Or is it that only those who have saved tend to respond?
The majority of financial experts recommend not taking a 25% pay cut by taking SS at age 62&1/2 if SS is important to your retirement. It may work now but if you live into your 80s you're likely going to really need that extra money.
Everyone has anecdotes about people who died the day after they retired but we don't talk much about the people who weren't prepared , retired early while they were healthy and now live in survival mode.
IMO, many of the financial experts are extremely biased. The ridiculous commercials on TV trying to instill a fear of running out of money. The extravagant part of my retirement will be when I'm younger. By the time I hit 75, God willing, I plan to be winding down and medical costs will take the place of vacation plans. I'd be entirely content to golf and take painting lessons in retirement. And I have no problem getting part time job for pin money.
It's good to see that BITOGers far exceed the published stats about most Americans not saving nearly enough for retirement based on the responses. Or is it that only those who have saved tend to respond?
The majority of financial experts recommend not taking a 25% pay cut by taking SS at age 62&1/2 if SS is important to your retirement. It may work now but if you live into your 80s you're likely going to really need that extra money.
Everyone has anecdotes about people who died the day after they retired but we don't talk much about the people who weren't prepared , retired early while they were healthy and now live in survival mode.
IMO, many of the financial experts are extremely biased. The ridiculous commercials on TV trying to instill a fear of running out of money. The extravagant part of my retirement will be when I'm younger. By the time I hit 75, God willing, I plan to be winding down and medical costs will take the place of vacation plans. I'd be entirely content to golf and take painting lessons in retirement. And I have no problem getting part time job for pin money.
It's a difficult decision for me. I like my job... most days, but some days can be stressful. I could retire now with a modest pension, or work a few more years and get the full pension. I have an autoimmune disorder that is causing some serious health issues (sounds similar to Cujet, but kidney damage for me), so retire right away (?). But my employer pays for a health plan that covers my prescriptions I take for the autoimmune disorder, and they are expensive.
When to retire for me kind of depends on the week I've had at work
When to retire for me kind of depends on the week I've had at work
As someone who retired early, I say retire as soon as you are able. Then you can do what you want every day.
Both my wife and I fully retired two years ago at age 55. We spent 35 years working our tails off to get to this point, but now we do what we want, when we want. Never an alarm clock (still up by 5:00), no mad rush to get to work, and if we want to take off and go to the beach for a few days, we just do it.
Both of us enjoyed what we did, but we also always had the goal to retire early and kept our focus on that.
Both of us enjoyed what we did, but we also always had the goal to retire early and kept our focus on that.
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