Discussion for early retirees ....

[Brenngun]

I find balance and flexibility are the keys for me. I've been very lucky to spend my life in a field I discovered as a young teenager and absolutely love. Because of that I've never felt a need to retire. Experience gained during my first 20 years of employment allowed me to become self employed by my mid 40's. I now work on a project by project basis. I decide how much work I want to do and on what project. I turn down more than I accept. It allows me to keep that balance and at the same time feed my mind.

[goin camping]

Forced early retirement due to side effects of cancer.

At first I could not accept not working. Really enjoyed what I did.

Now I do buying and selling stuff I like to enjoy the deals and go camping very often out in the desert.

Fortunately I still get calls to bargain contracts and deals. I love doing that! So along with that and my own wheeling and dealing. It is a very good and enjoyable life.

You can always do things you enjoy at a comfortable level of intensity.

Just figure out what would be enjoyable and get to it.

[Maybelline]

Retired at 49.

Took 3 months off and got bored. Went back to work about 20 hours a week at a zero stress job for fun.

Spend my free time going to the gym everyday and walking my dog. We travel a lot now and I volunteer at a dog shelter.

Now I don’t know how I worked full time and got everything done.

[Dr. Robert]

Can’t help you.....after many divorces & a bad watch habit, I’m going to work until I die.

[JasoninDenver]

I “retired” at 50 from from a high stress litigation law practice which I hated.

Now I am a stay at home dad to 9 and 11 year old daughters. My being able to do this allows my wife to focus on her career as a neonatologist and then relax when she gets off work rather than stressing out about groceries, cooking and school activities.

Overall, our family quality of life has improved greatly, even with a substantial decrease in income.

I have bouts of concern over a lack of direct financial income, but the benefits greatly outweigh these downsides. I am able to volunteer as a small business consultant at the Denver Chamber of Commerce and hope to add this as a paying compinent once the girls ar a little older.

In general, it was an extremely positive move but it did require time for me to adjust my perception of myself and what really matters in life.

[gmh1013]

I retired at 49....I worked for IBM selling X servers and the pressure was horrible ...got high BP plus i already had other heath issues ....my doctor told me if i kept up the high stress job i was looking for a Heart attack or stoke before 55. I had saved up over 6 zero's in the bank and hoped CD rates would never fall below 4 percent....mistake number one. I should have took an inside sales position...not near the money but it would kept me in 401k and buying IBM stock. My wife retired right behind me after 27 years at Wells Fargo. Her health was starting to go also in her late 50's with heart problems.
I would have done thing diff if i new the market was going to crash....i left IBM Dec 1 2007 and my 401k lost 40 percent....my wife about 30....but we still had lots of cash so i didn't worry till doctors and drugs really was costing 30k a year out of pocket.....before my wife died in june i had already spent over 40k on her hospital bills and she had medicare paying 80 percent and some crappy AARP paying 10 percent.
I would tell anybody dont retire before 55 unless your health is failing etc....and it takes more money than you think unless you want to stay home and watch TV for 20 years.

[Fat_ninja]

Thinking about this again...

[Sucuri]

I can’t imagine retiring. My wife and I were talking about it long time ago and I remember telling her: I don’t want to! I never thought much about it before.

I’ve been incredibly lucky to be able to make a living as a photographer, my passion since an early age. I get to travel all over and have amazing experiences. I make a decent living but will probably never afford a collection of Pateks.
I think that if you find your passion, work never feels like work.

My advice will be to dive head first into something you love :-) work, volunteer, study... and enjoy. Life is too short.

Best of luck in your quest.

[Andad]

71 next month and still enjoy going to work.

Haven’t considered retirement.....yet.

[Retired Bob]

At 38 my wife and planned to retire early. We saved, bought stock, put max in 401,and retired at 56. My day starts at the gym, food shopping, golf, yard work, and just enjoy helping the neighbors. I'll be 69 this August and never would have done it any different.

[4vCoupe]

My goal is to retire at 55. We will see, 20 more years to go!


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[betterwatchit]

The thread I started has been resurrected! Well, I’ve decided to definitely retire this year, my last day will be the end of May when I end the project I’m on.

Already planned 3 overseas trips to start with.

I’ll have time for more hiking, rather than cramming into the weekends, leaving no time for anything else.

Also thinking of doing a PADI instructor course. I’ve been a Divemaster for 20 years, my local dive centre are always wanting instructors, so I can help out when I have time.

[Tape]

Don't retire early, I did and it will cause anxiety fast and bad. I'm so bored and don't want to do anything because I've already done everything. I can afford to do or go anywhere I want but nothing interests me. I retired at 41 and I'm 56 now and it's been hell! I cannot find any hobbies that will keep my interest, at this point even making money doesn't interest me. KEEP WORKING as long as possible.... JMO

[gmh1013]

I retired at 49...if i had to do it all over again i should have worked to 55 an then retired.
I could have added 6 years more to IBM's stock purchase and my IRA account.....
Mistake number 2 was thinking CD rates would never drop bellow 4 percent...i even knew it could goto 3.5 and we would still be ok.....but look what happened.
Mistake number 3 not accounting for my wife dying last year and lost over 1/2 income... now im 61 in very poor health....could not work if i wanted to and money is running low from paying thousands upon thousands of doctor bills and pills for my wife....im sure way over 150k out of pocket. I can start drawing on S.S. this Oct when i turn 62 my wife was almost 10 years older....and lost her S.S. and her Wells Fargo Pension.
Im going to sell house this spring or try and move into a asst living which is expensive to me anyway......but dont have much choice and hope i die before i run out of money....which could happen in about 16 years.
I thought i had it all planned out at 49....plus i thought i had enough cash which i did.....but you never know what can happen....to much cash is never enough.
I watch lots of TV....and involved with Mustang owners club which im acting VP this year...takes up big blocks of time. Plus going to doctors every week.....seems like i spend my life in a doctors waiting room now.

[betterwatchit]

Originally Posted by Tape

Don't retire early, I did and it will cause anxiety fast and bad. I'm so bored and don't want to do anything because I've already done everything. I can afford to do or go anywhere I want but nothing interests me. I retired at 41 and I'm 56 now and it's been hell! I cannot find any hobbies that will keep my interest, at this point even making money doesn't interest me. KEEP WORKING as long as possible.... JMO

I get we’re all different. I know plenty people I could never see retiring.

However, some do and love it! My father retired at 50, is now 80, and has enjoyed every minute of it since. He’s healthy, very active, has many interests.

I’m going to give it a go. Money will never be an issue for me. And, if I ever feel bored, my professional skills are so in demand, I’d have no trouble finding an interesting project.

[betterwatchit]

Originally Posted by gmh1013

I retired at 49...if i had to do it all over again i should have worked to 55 an then retired.
I could have added 6 years more to IBM's stock purchase and my IRA account.....
Mistake number 2 was thinking CD rates would never drop bellow 4 percent...i even knew it could goto 3.5 and we would still be ok.....but look what happened.
Mistake number 3 not accounting for my wife dying last year and lost over 1/2 income... now im 61 in very poor health....could not work if i wanted to and money is running low from paying thousands upon thousands of doctor bills and pills for my wife....im sure way over 150k out of pocket. I can start drawing on S.S. this Oct when i turn 62 my wife was almost 10 years older....and lost her S.S. and her Wells Fargo Pension.
Im going to sell house this spring or try and move into a asst living which is expensive to me anyway......but dont have much choice and hope i die before i run out of money....which could happen in about 16 years.
I thought i had it all planned out at 49....plus i thought i had enough cash which i did.....but you never know what can happen....to much cash is never enough.
I watch lots of TV....and involved with Mustang owners club which im acting VP this year...takes up big blocks of time. Plus going to doctors every week.....seems like i spend my life in a doctors waiting room now.

Sorry to hear about your situation, but it’s very hard to know how things will turn out when you make decisions in life. No comfort really, but looking back and regretting past decisions will never help. You can’t change what’s happened, so the only option is to look to the present and future .. and think about what you can influence. Let’s hope things work out for the better ...

[Jojoshop]

It all depends on you. My dad retired from his teaching at university and sold his company. He then drove everybody crazy. My mom was pushing him out of the house as he is getting involved in every single detail and coming up with crazy projects. Long story short, he is back working basically after forming a small company and currently gaining a lot of ground.

So, I think some people could retire and enjoy the golden age. And some will work until they drop. I guess i’m a son of my dad

[Chiboy]

Just discovered this thread. My wife and I both left Corporate America at 40. We both had successful, but high stress jobs and neither one was enjoying it anymore. That was almost 20 years ago. I never really expected it to "stick" but it certainly has. I run 3x/week, work out 2x/week, play tennis or platform tennis 2-5x/week, read books, travel, invest actively, do ad hoc charitable things, and generally enjoy life. I feel sorry for the people who don't really enjoy things outside of work.

One of the best things about having a life I get to structure is that when I become interested in something, I can spend a lot of time diving in, rather than trying to get involved in a limited way on weekends. I guess early retirement isn't for everyone, but my wife loves it, and I do too. It probably helps to have a good marriage, as it is likely that you will spend more time with each other than if you are at work for 10 or 12 hours a day.

Oh, it also takes a while to get used to not having a paycheck (or two) coming in. And when the stock market tanks (I'm looking at you, 2008 and 2009), it can get a little stressful. But those are small prices to pay, and Sunday nights are no longer spent thinking about all the stuff I have to do next week at work.

[Jojoshop]

Originally Posted by gmh1013

I retired at 49...if i had to do it all over again i should have worked to 55 an then retired.
I could have added 6 years more to IBM's stock purchase and my IRA account.....
Mistake number 2 was thinking CD rates would never drop bellow 4 percent...i even knew it could goto 3.5 and we would still be ok.....but look what happened.
Mistake number 3 not accounting for my wife dying last year and lost over 1/2 income... now im 61 in very poor health....could not work if i wanted to and money is running low from paying thousands upon thousands of doctor bills and pills for my wife....im sure way over 150k out of pocket. I can start drawing on S.S. this Oct when i turn 62 my wife was almost 10 years older....and lost her S.S. and her Wells Fargo Pension.
Im going to sell house this spring or try and move into a asst living which is expensive to me anyway......but dont have much choice and hope i die before i run out of money....which could happen in about 16 years.
I thought i had it all planned out at 49....plus i thought i had enough cash which i did.....but you never know what can happen....to much cash is never enough.
I watch lots of TV....and involved with Mustang owners club which im acting VP this year...takes up big blocks of time. Plus going to doctors every week.....seems like i spend my life in a doctors waiting room now.

Sorry to hear about your situation. You ve done very well controlling the damage and I could say your financial situation is certainly above average. You survived the 2008 recession and you came up on top. People’s life, particularly retirees, got destroyed and they lost everything.
Did you consider traveling and check other countries. Europe is a good place to start. Southern Italy, Spain or Greece are cheap by comparison to here. You could have a comfortable 1/2 year in those areas living confortably, enjoying the Mediterranean and health care is not as expansive. My wife and I are planning our retirement, going back to Italy is our plan A as we will be surrounded by family but also it make sense financially

[Widows Son]

HEALTH CARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Before you retire, think about how you're going to pay for it. Medicare doesnt kick in untill 65, and if your spouse doesn't have it you may have a problem if you retire "early." I retired after 25 years with the police dept and my health care vanished for me, my spouse, and our son. I took a part time job at our local school system to pay for health care and still work one day a week at the dept for mad money. My only debt is a small mortgage, no CC debt, car payments, or student loans, no financial problems. I'd suggest to the OP to find a hobby that provides time away from the home. Volunteer at Church, or possibly join a fraternity. My Masonic Lodge is a great meeting place that provides opportunity for social interaction and as much intellectual stimulation as you can handle. Tomorrow is promised to nobody, get out and have some fun.

[GoingPlaces]

Originally Posted by gmh1013

I retired at 49...if i had to do it all over again i should have worked to 55 an then retired.
I could have added 6 years more to IBM's stock purchase and my IRA account.....
Mistake number 2 was thinking CD rates would never drop bellow 4 percent...i even knew it could goto 3.5 and we would still be ok.....but look what happened.
Mistake number 3 not accounting for my wife dying last year and lost over 1/2 income... now im 61 in very poor health....could not work if i wanted to and money is running low from paying thousands upon thousands of doctor bills and pills for my wife....im sure way over 150k out of pocket. I can start drawing on S.S. this Oct when i turn 62 my wife was almost 10 years older....and lost her S.S. and her Wells Fargo Pension.
Im going to sell house this spring or try and move into a asst living which is expensive to me anyway......but dont have much choice and hope i die before i run out of money....which could happen in about 16 years.
I thought i had it all planned out at 49....plus i thought i had enough cash which i did.....but you never know what can happen....to much cash is never enough.
I watch lots of TV....and involved with Mustang owners club which im acting VP this year...takes up big blocks of time. Plus going to doctors every week.....seems like i spend my life in a doctors waiting room now.

Sorry to hear this. We never know what is around the corner, remain strong and faithful. Looking back does no good, we all make decisions that we think are the best ones and regardless of our choices life has something else in store for us. Stay busy with your hobbies, surround yourself with good people and enjoy the moments.

Just turned 50. No plan on retiring here, work for myself from home and love every day.

[gmh1013]

Originally Posted by Widows Son

HEALTH CARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Before you retire, think about how you're going to pay for it. Medicare doesnt kick in untill 65, and if your spouse doesn't have it you may have a problem if you retire "early." I retired after 25 years with the police dept and my health care vanished for me, my spouse, and our son. I took a part time job at our local school system to pay for health care and still work one day a week at the dept for mad money. My only debt is a small mortgage, no CC debt, car payments, or student loans, no financial problems. I'd suggest to the OP to find a hobby that provides time away from the home. Volunteer at Church, or possibly join a fraternity. My Masonic Lodge is a great meeting place that provides opportunity for social interaction and as much intellectual stimulation as you can handle. Tomorrow is promised to nobody, get out and have some fun.

When you are young and never sick...say 35 years old you never think about it....me included....i have not had a cold in 5 years.....what i use to say 25 years ago...today i have MS....arthritis.....survived one heart attack at 58.....like i told a young guy at our Mustang club....i could have had matching GT350's and money left over from what ive paid hospitals and doctors.....and I have insurance....not great .....from my wife's Wells Fargo days....even after she died .....i pay more now....but its beats zero.

[Rebel]

I set aside the Army Reserve in my mid-40s. I set aside business as a GM dealer in my early 50s.

Now, I am a Methodist minister and working on my doctorate (already had a masters).

Not sure if I will ever set ministry aside (other than for health reasons).

[gmh1013]

Originally Posted by Jojoshop

Sorry to hear about your situation. You ve done very well controlling the damage and I could say your financial situation is certainly above average. You survived the 2008 recession and you came up on top. People’s life, particularly retirees, got destroyed and they lost everything.
Did you consider traveling and check other countries. Europe is a good place to start. Southern Italy, Spain or Greece are cheap by comparison to here. You could have a comfortable 1/2 year in those areas living confortably, enjoying the Mediterranean and health care is not as expansive. My wife and I are planning our retirement, going back to Italy is our plan A as we will be surrounded by family but also it make sense financially

The reason i survived the 08 meltdown was simple 90 percent cash....10 percent investments....I started back into mutual funds in 2010 but did not go crazy......and have made some very good returns since.
Since my wife died im having to risk more to make up from her lost income ....I think im 22 percent stocks and funds to 78 percent cash....but would never go over 25/75.

[Gaijin]

Originally Posted by Widows Son

HEALTH CARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Before you retire, think about how you're going to pay for it. Medicare doesnt kick in untill 65, and if your spouse doesn't have it you may have a problem if you retire "early." I retired after 25 years with the police dept and my health care vanished for me, my spouse, and our son. I took a part time job at our local school system to pay for health care and still work one day a week at the dept for mad money. My only debt is a small mortgage, no CC debt, car payments, or student loans, no financial problems. I'd suggest to the OP to find a hobby that provides time away from the home. Volunteer at Church, or possibly join a fraternity. My Masonic Lodge is a great meeting place that provides opportunity for social interaction and as much intellectual stimulation as you can handle. Tomorrow is promised to nobody, get out and have some fun.

Bingo! So true.

Wake up call. The day I left the department I no longer had health care. I was 47.

If I go home I'll use the VA until medicare kicks in.

Back to retirement. I don't know what I would do without a purpose that work gives me. So I'll keep at it for a bit longer.


Dream semi-retirement jobs. Budtender at a cannabis shop ( yes really ) or work at a craft brewery place.

[Art 1]

Originally Posted by gmh1013

When you are young and never sick...say 35 years old you never think about it....me included....i have not had a cold in 5 years.....what i use to say 25 years ago...today i have MS....arthritis.....survived one heart attack at 58.....like i told a young guy at our Mustang club....i could have had matching GT350's and money left over from what ive paid hospitals and doctors.....and I have insurance....not great .....from my wife's Wells Fargo days....even after she died .....i pay more now....but its beats zero.

Greg I would consider moving out of the USA. It takes a lot of guts and determination that most people don’t have. I have several friends and family who have. My own Granny moved into the USA alone at age 16 for a better life. Times are different now. At our ages, we have been brought up to think America is the best place to live, well is not. There are many other places. Do some research, make a plan and go. Your money will do much better and you will have just as good or better health care.

[betterwatchit]

Originally Posted by Widows Son

HEALTH CARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Before you retire, think about how you're going to pay for it. Medicare doesnt kick in untill 65, and if your spouse doesn't have it you may have a problem if you retire "early." I retired after 25 years with the police dept and my health care vanished for me, my spouse, and our son. I took a part time job at our local school system to pay for health care and still work one day a week at the dept for mad money. My only debt is a small mortgage, no CC debt, car payments, or student loans, no financial problems. I'd suggest to the OP to find a hobby that provides time away from the home. Volunteer at Church, or possibly join a fraternity. My Masonic Lodge is a great meeting place that provides opportunity for social interaction and as much intellectual stimulation as you can handle. Tomorrow is promised to nobody, get out and have some fun.

As a European that’s not something I need to worry about! Perhaps I’ll get something back for the 50%+ tax I’ve been paying all these years ...

[Art 1]

Originally Posted by betterwatchit

As a European that’s not something I need to worry about! Perhaps I’ll get something back for the 50%+ tax I’ve been paying all these years ...

It’s a huge burden for many in the USA, unless one is on welfare or here illegally, then it’s free.

[Gaijin]

Originally Posted by Art 1

Greg I would consider moving out of the USA. It takes a lot of guts and determination that most people don’t have. I have several friends and family who have. My own Granny moved into the USA alone at age 16 for a better life. Times are different now. At our ages, we have been brought up to think America is the best place to live, well is not. There are many other places. Do some research, make a plan and go. Your money will do much better and you will have just as good or better health care.

Agree. I live overseas now and have a good life and full medical and dental. I learned a second language. Have a great dog. Friends.

I miss the US sometimes but life is good here for now.

[gmh1013]

Originally Posted by Art 1

Greg I would consider moving out of the USA. It takes a lot of guts and determination that most people don’t have. I have several friends and family who have. My own Granny moved into the USA alone at age 16 for a better life. Times are different now. At our ages, we have been brought up to think America is the best place to live, well is not. There are many other places. Do some research, make a plan and go. Your money will do much better and you will have just as good or better health care.

I worked for IBM Canada in Markham ON when i was in sales and IBM offered me a job In Toronto back in Fall of 2005 but my wife said no.....she cant stand the cold....I was not going to get a divorce over it so I resigned in Dec 06 and retired at 49.....since in turning it down left me in "bad graces" at big blue.
Now I think back on another bad mistake .... I would have duel citizenship etc. now.