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Old 01-11-2016, 12:26 PM   #21
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Location: HuntsVegas, AL
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61 here and retirement eligible. Unfortunately DW will not be eligible until 2017. Both of us in Civil Service so Health/live/eye/dental Insurance is not a issue. We plan on going FT in 2018 so we will be able to live on our pensions and not really need to touch SS or our 401(K)s

Bottom line: I'd retire now but would have nothing to do while DW continued to work. Both of us are counting down the days until SEP 2017!

Bob & Anne-Marie [BamaBob & 6 Actual]
| 2017 Berkshire XLT 43A with Ultrasteer Tag | Blue Ox Avail + KarGard II |
| SMI AF-1 Air Brake | 2016 Jeep Cherokee Overland TOAD | Pedego Bikes |
Nights Camped: 2013 - 242014 - 422015 - 56Jul 2016 - Fulltime
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Old 01-11-2016, 12:35 PM   #22
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Retired at 60 and love it

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Old 01-11-2016, 12:36 PM   #23
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Location: SWFL
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I am 62 and retired 6 years ago from County Sheriff's office ( L.E.O ) I wanted to retire while all my certifications were up to date and with an impeccable service record. My home, vehicle and TT were paid off. Living on much less, I am comfortable, live on a tight budget but do not regret my decision. That being said, I thoroughly enjoyed my profession and the camaraderie of other officers and miss the challenges of my profession ! It is totally a personal call. I fill the challenge part with being a Big Brother Sister mentor :-) Good luck in your decision.
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Old 01-11-2016, 12:37 PM   #24
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Location: Chattanooga
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DH and I had both decided ions ago that we were retiring at 65 instead of 62 because of insurance. Medicare + your supplemental + drug plan is a whole lot cheaper than private health insurance. We have now been retired 2 1/2 years and are loving every single minute of it. Everything we own is paid for but you will still have expenses when you retire - I.e. Electric bill, water bill, insurance on your home & all your toys, plus fuel for them & property taxes. When we travel, we put fuel & camping on a credit card and pay it off upon return. We don't want to dip into our IRA's unless absolutely necessary and prefer to live off our SS benefits - which we can do so very comfortably. The best advice is to plan, plan, and then plan some more. You will know when it is time to retire. I loved my job as did DH, but there will come a time when things start to change and you decide the changes aren't for you - this is when it is time to move on.

Do make an appt with Social Security and let them tell you what your benefits will be, less your Medicare. Figure on $100 each for your supplemental insurance plus your drug plan. You pay this individually - not as a couple. The balance will be what you should be comfortable living on. And don't forget, when it's time to pay income taxes, you will owe taxes unless you elect to have them withheld from your Social Security check.

Good luck on your decision and trust me, you will know when it's time. We did, have never looked back, and are having the absolute time of our lives!
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Old 01-11-2016, 12:39 PM   #25
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As said above, different answers for most. I was injured at work at 51 and put to pasture. Financially it worked fine but I learned I was what I did and still miss it every day (65 now). DH was set to retire at 58 but was red circled and well paid to go 6 months before then rehired as a consultant within 2 months at 2x pay (yup. We have already won the that lottery). He still does a bit of consulting when and where he wants but we camp and travel as much or little as we want. Nice to have been generous with the kids. Never figured retirement would be like this. I call it lifestyles of the old and aimless.

Phil, Heather & Olaf the Boxer
Ontario Canada
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Old 01-11-2016, 12:41 PM   #26
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Grrrrr..... 30 years to go.... Grrr...
Brian - Stacy - Liam Camp Dogs: Pepper & Bentley
Nights Camped: 2015 - 34 2016 - 7 2017 - 6

"I need a time out, send me to the mountains and don't let me out until my attitude changes!"
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Old 01-11-2016, 01:59 PM   #27
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Location: Durham, NC
Posts: 1,184
Have a friend who is 62. Five divorces, lots of alimony and child support. All that is just now behind him, but he will never be able to afford to retire.

You make bad decisions in your life and it can cost you big.

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Durham, NC

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Old 01-11-2016, 02:22 PM   #28
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Location: Colorado
Posts: 46
I am 61, DH is 57. Retired in 2013, he was disabled (LEO) and me, for the second time (US Army in 95), from state University position. Since our young adult sons decided not to pursue higher ed after HS, we were not putting $$$ towards tuition. (They all went back on their own dime for voc tech and AA programs). Every extra dime was put into 401 and/or 457 plans when we could. Brown bag lunches x 40 years!!! My military service affords us (both vets) excellent medical coverage; my time with the state covers dental. Most LEOs in our state get no medical or dental benefit, unbeknownst to the general public. We had actually planned to stay on a bit longer for both our careers but once he was officially on short term disability, we advanced our timeline. I knew he would not be enjoying his time at home alone. I miss the intellectual challenges, some of the camaraderie, but I volunteer about 10 hours a week at granddaughter's school when we are not on the road, take classes online to keep the gray matter going (Coursera, eDX, local Spanish classes), and catch up on all the yard work, house work, baking, etc., that I glossed over x 40 years. I would lose my mind sitting around all day, so I have a plan every day to keep somewhat busy.
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Old 01-11-2016, 02:55 PM   #29
Join Date: Oct 2015
Location: Minnesota
Posts: 45
Money and finances are important but it isn't the whole story. To retire you need to have a reason to get up in the morning. What is your purpose? What gets you excited and engaged? Lots of us identify with our jobs and when we quit working our identity changes. How will you answer the question, What do you do? Will you miss the work and your workmates. I've run into a lot of people who struggle with retirement and don't know what to do with themselves. Others bloom and see it as the best part of their life. In any case it is a huge transition for most and it isn't all smiles and walking hand in hand down the beach like the finance brochure show you. Its great that your are giving it some thought. Things I would consider: finances, mental and physical health, family needs, purpose, identity, spiritual needs, recreation, contribution to others. Lots to think about and lots of wonderful opportunities when the time is right. Best of success.
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Old 01-11-2016, 03:00 PM   #30
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Location: Windsor, Ontario, Canada
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Like Stormrider151, I loved my job from day1 until the last day. I put 35 years in, rose in the ranks. I was 56 when I pulled the plug. I have a good pension, all bills are being paid, complete medical & drug coverage, out of country coverage as well. We didn't owe anything when I retired. That was the plan. I'm in my 14th year of retirement, still miss the job, miss the people I worked with and miss the Adrenalin rush when fighting a fire. I was ready mentally and financially. I could have stayed another 4 years and would probably be making 10 grand more a year but I was starting to get p*ssed off with the front office's decision making. So instead of retiring being in a bad frame of mind, I retired. Good luck to you.

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