When is it time?

[AquaMan]

My Dad died 16yrs ago at age 60, after battling cancer for 9 yrs. Luckily he had a few good years that he could travel during that time. Since that time I had decided to seize the moment, live for today, and don't look back with regrets of "I wished I would've...". This partly explains why I'll continue to work, but the memories I've made while my kids were young, will far outweigh any luxury I would have from not working(however little) while in retirement age, or inheritance that I would leave my children. So I guess I really started my "retirement" 16yrs ago, but I have the advantage of being able to take off and not report to anyone. Point I think I'm trying to make, don't cheat yourself early on, tomorrow is unknown.

[WolfWhistle]

Many are well spoken.

It seems most of us equate happiness to no longer punching the clock. Forget that.

The time to make memories is when you are young and when your kids are young. So, speaking to the majority of you who have to work, that means not letting your job or your drive to succeed interfere with family (and to that I add friends). Too soon, kids grow up and leave and friends die off. Don't be a workaholic; and if your job is so demanding that you don't have time for yourself and family, get another job. Be honest with yourself, are you like this? Do not wait for this pie in the sky retirement, if you do - many times - you have let life pass you by.

To those who work and work to build larger and larger wealth, because what the future holds is unknown and you don't want to run out of money at the end of life, or for whatever reason; I say, be concerned about today and let tomorrow worry for itself.
WW

[KenHwy61]

Very well said. Make the memories while you can. We took the kids on vacations as much as we could. Our old bunkhouse got a lot of use. But kids grow up and are now at an age(15, 20 & 25) where being with the parents is no longer of any real interest. I truly miss that 3-13 year old stage where my boys really wanted to do things with me. So with that part of our life moving in to the rear view mirror my wife and I are looking forward to doing all the things we couldn't afford of didn't have time for. As was said, tomorrow is promised to no one so we don't want to wait too long.

[rockfordroo]

Originally Posted by WolfWhistle

Many are well spoken.

It seems most of us equate happiness to no longer punching the clock. Forget that.

The time to make memories is when you are young and when your kids are young. So, speaking to the majority of you who have to work, that means not letting your job or your drive to succeed interfere with family (and to that I add friends). Too soon, kids grow up and leave and friends die off. Don't be a workaholic; and if your job is so demanding that you don't have time for yourself and family, get another job. Be honest with yourself, are you like this? Do not wait for this pie in the sky retirement, if you do - many times - you have let life pass you by.

To those who work and work to build larger and larger wealth, because what the future holds is unknown and you don't want to run out of money at the end of life, or for whatever reason; I say, be concerned about today and let tomorrow worry for itself.
WW

While this is a great philosophy, remember - "everything in moderation." Meaning - You can't/shouldn't let tomorrow completely "worry for itself." You need enough wealth for retirement so you don't become a burden on those kids you talk about.

[LTRVing]

Been retired 6 years now, when I run into people older then I who are still working, I ask them why? The tell me they are waiting for a cash incentive or buy out or another few percent on their retirement. I tell them as soon as they can financially go, to go and don't wait. Know of too many who DOTJ, or never cashed that first check after retiring, sad IMO.

[mnoland30]

Boeing did a study years ago and found that every year worked past 55 took two years off your life expectancy. I retired at 51. My friend asked me how I knew I could afford to retire. I told him we had been living on what we would make at retirement for several years (and socking away the rest). I was a part time stock broker for a short while, and everytime I would do the calculations for my fellow gov't. workers, showing what they would make when retired, they retired. My gross pay went to 47% of what I was making, but my actual paycheck was 67%. I don't miss the money, and I don't miss my job.

[emm-dee]

I've retired twice. My first job was a government position that allowed retirement after 20 years, age 50, or 25 years, any age. I had 30 years in so that meant I had been eligible for five years. I didn't dislike the job but was getting a little bored with it. Went in to work one day and saw some prime examples of US gubment political correctness. I decided I was through with that stuff, dropped my paperwork on the table and walked out the door. First thing my wife said when I got home was "well, you better find another job because you're not gonna hang around here bothering me all day".

Took another job which involved traveling all the time (week on, week off schedule...the wife really liked that). Fast forward 15 years. A co-worker (good friend, too) was found dead (heart attack) in a hotel room in Italy. Six or so months later another co-worker died of a stroke in a hotel in China. Both of them were 10-12 years younger than me.

That was it for me. I decided there was no way I'd be found dead in Madagascar or China or the Caribbean or any of the other gosh-awful places I traveled to. Retired for real and fully intend to never go back to work again.

Best thing about retiring was it gave me two years of real time and travel with my wife, who I lost after 47 years. I was lucky enough to have over two million points each valid on Delta Airlines and Hilton hotels, so we got to make some really nice trips together.

Now, I'm so busy I don't understand how I ever had time to work.

[GOTTOYS]

I bailed at 61. Managed to get everything paid off first. Now I wake up realize I don't have to go to work and go back to sleep. Sometimes I do this 2-3 times a day. I will never all the money I want, but then I won't have all the time either. I think I will run out of time first..If I had known retirement was this good, I would never have worked, would have just retired.......Don't wait do it NOW!

[Cyndi]

I just retired. I'm 55 years old. My husband is retiring this year also. He is 61. We just decided that we wanted to retire while we could still move, and we want to enjoy it. So we were more concerned with running out of time. Luckily we have saved a sufficient amount to supplement our income. We plan on selling the house and living on the road for a year- can't wait!

[Stevemc]

When is it time? is a tough question to answer. Everyone's time is different depending on income, savings, debt, health, etc., etc. The only sure thing is that if you wait long enough it will be too late.

[Wayne Joan]

Originally Posted by Stevemc

When is it time? is a tough question to answer. Everyone's time is different depending on income, savings, debt, health, etc., etc. The only sure thing is that if you wait long enough it will be too late.

Good advice.

[dkelly]

When I was able to retire I recall telling the Chief I would stay on as long as the job was still fun. When it became a burden then I retired. Haven't missed most of the job. Retired at 55 and my bride retired at 50.

[Vince and Charlette]

I found out retiring from the Government (24 yrs military then 13 yrs Civil Service) almost requires a PhD. So I did research and developed a PowerPoint briefing for others. In it I always gave three simple pieces of advice for those planning to retire: 1 - Save to the max extent possible (gets you used to lower income while increasing the amount you'll have in retirement); 2 - As much a possible, forego other pleasures to entire retirement debt free (how sweet it is); 3 - (this is the most ignored) Entire retirement healthy. While you may not have complete control over your health, a rigorous plan of exercising (walking is just as great as running, and it cuts down on impact stress) on the average adds 6 years to your life! And, they are normally much healthier years with more energy and better disposition (my DW loves that part). Enjoy the best years of your life!

[aceinspp]

Well I retire at 62 after spending 43 years in the industry of RR. That was a goal I had set after seeing my father work him self to death and never saw a dime of retirement, he only made it to 59. So i said that is not going to happen to me. If I have the funds and can go I will and I did. Never looked back best decision I've ever made. My DW retired 3 years ago at 67 and she said after retiring why did I not go sooner. Whats a couple of extra bucks on retirement. When I retired I take home $100 a month less than if I was still working and I have darn good insurance. No brainer there.

I look at folks working as others have and also here the story of I'll make just a bit more on retirement or waiting on bonus or a buy out. As I've to most if you can afford to go do it life is to short not to enjoy what you worked so long for. We live comfortably not much different than when we worked as we have always been spend thrifty. I know one thing I worked for it and I'm going to spend and enjoy while I can. Later RJD

[AbdRahim]

Financial guys say when your investments will easily sustain you to age 95, taking into account, reasonable growth, setbacks, inflation, etc.

[KenHwy61]

For most of us, not retiring until that goal is met would mean never retiring. To me, the time is more valuable than anything else and I will be willing to take a reasonable risk of running out of retirement money and living only on S.S.
I would rather live modestly(Like in my camper!) than wish I had retired sooner. A friend from church just bought his first RV last Sept. and had planned to winter in Texas. He died at 69 before ever using it. Our target age is 60.

[mike.t]

A lot of good points.As far as saving up till ya got enough. When the day finally comes ya walk outside and get hit by an f-150 eco-boost hauling a 8k trailer ;o). Ya never know so do it sooner than later and NJOY.

[ColoradoRick]

Some wrongfully assume that retirement means you stop working and can never go back. Or if you do go back you can't go back to your previous field.

I know a great lady who worked in the defense contractor field (contracts and such) for over 40 years. A couple of years ago, she retired. But about a year later, she was asked by my company to work part-time as a consultant. She didn't really want to but, get this, we offered to pay her what she was making full-time but only had to work 20-hours a week! (And she often works from home...or wherever she is.)

Bottom line is that knowledge is valuable. Many times, we're not hired for what we do as much as what we know. (Especially when dealing with things worth millions of dollars.)

[mike.t]

ColoradoRick. Special circumstance but good point and great story.

[johnruff]

Enjoyed all the comments on this thread. Just looked at my social security statement and I started paying in 1963 at age 15. Paid every year since. Am now 67 and in excellent health and plan to hang it up in a few months and start traveling. I have lived in my rv many years while working and consulting at different places in the US - cheaper, more convenient than renting an appt. or hotel. Home is in FL and the wife and I are ready to enjoy some things for ourselves. BTW - with this economy and this government I don't think you can ever have enough money or count on a pension or social security. Some up in DC already think it all belongs to them.