Reply
 
Thread Tools Display Modes
Old 10-15-2010, 10:52 AM   #1
Senior Member
 
Traveler II's Avatar
 
Join Date: Mar 2010
Location: Lindstrom, MN
Posts: 143
Retirement

We retired 12 years ago. During that time the economy has been all over the place. Weve managed to navigate the hurdles and are doing OK and enjoy ourselves. We travel about a 1/3 of a year in our 5th wheel, (Cardinal).

I was thinking that if I had to make the decision now to retire or not Im not sure what I would do. Id be pulled between knowing I was getting older and would want to enjoy good health and do somethings I want to do, versus waiting.

For those of you nearing the magic time what are you plans?
__________________

__________________
Jim and Jane
2008 Cardinal 30TS
Trail Air Pin Box, Center Point Suspension
Reese 18K hitch - Garmin 1690 GPS
2008 Chevy 2500HD 4x4 Duramax/Allison, Long Box, Smartair
Nights camped in 2011: 120
Traveler II is offline   Reply With Quote
Old 10-15-2010, 12:33 PM   #2
Moderator Emeritus
 
Triguy's Avatar
 
Join Date: Aug 2010
Location: Southeast Wisconsin
Posts: 6,950
I think you're asking if people are waiting to retire due to today's economy? I think the poor economy has had an impact in that people are retiring more carefully now than ever.

I'm 44 (so not ready to retire) but can give you my impressions as a business owner (money managers) where nearly all of our clients are pre-retirees and retirees so we get to help people through the decision-making process all the time. Should I retire? Should I not? Its a weekly discussion in our office and for good reason. Here are my observations.

Bottom line is that the only ones I see waiting on retirement either really enjoy their jobs and see no need to change or the math (described briefly below) just doesn't support their retirement today. Sounds basic and it is. Its also pretty consistent with what I have seen over the past 20 years in the business (with the possible exception of the craziness of the late 90s where many people were looking to retire with completely unreasonable market expectations).

However, there is one big difference that can be traced back to the economy over the last 10 years (and its an improvement, IMO). The pre-retirees I see today seem to be making their decisions to retire similar to the retirees of the past who left the workforce during a stronger economy, but their assumptions about the future (returns, personal life expectancy, their personal cost of living, etc) are more reasonable and more conservative now. This is probably due to the experience over the last 10 years and is good as the more conservative assumptions provide a cushion for the rough patches.

So, basically, if someone is ready to leave the workforce, they need to account for things differently than they might have in the past:
-lower future return expectations
-higher taxes
-more reasonable personal withdrawal rates (the amount of money taken out of their portfolio that can be sustained in retirement)
- and assume a higher cost of living...

The ones who can make the math work using more reasonable assumptions about the future are retiring happily. The ones where the math can't work; continue to stay employed.
__________________

__________________
Triguy is offline   Reply With Quote
Old 10-15-2010, 12:59 PM   #3
Senior Member
 
Traveler II's Avatar
 
Join Date: Mar 2010
Location: Lindstrom, MN
Posts: 143
Well put.
__________________
Jim and Jane
2008 Cardinal 30TS
Trail Air Pin Box, Center Point Suspension
Reese 18K hitch - Garmin 1690 GPS
2008 Chevy 2500HD 4x4 Duramax/Allison, Long Box, Smartair
Nights camped in 2011: 120
Traveler II is offline   Reply With Quote
Old 10-15-2010, 07:01 PM   #4
Moderator Emeritus
 
Triguy's Avatar
 
Join Date: Aug 2010
Location: Southeast Wisconsin
Posts: 6,950
Thanks. I hope i didn't just hijack your thread. I'd also be interested in hearing some of the stories from those around here getting ready to retire.
__________________
Triguy is offline   Reply With Quote
Old 10-15-2010, 08:04 PM   #5
Senior Member
 
mjones12's Avatar
 
Join Date: Sep 2009
Location: Lexington, NC
Posts: 1,825
Good points, Triguy. My plan is to make a move as soon as I'm old enough to supplement my retirement investments with social security, if it still exists in the next four years. I'm tired of working and ready to retire, even if it means making significant lifestyle revisions. As long as I'm able to live comfortably and still afford to go camping, I'm outta there.
__________________
2018 Coachmen Apex 249 RBS
2010 Silverado LT 5.3 V8


The world is a great book, of which those who never stir from home
read only a page. - St. Augustine
mjones12 is online now   Reply With Quote
Old 10-15-2010, 08:52 PM   #6
Senior Member
 
Hatchet58's Avatar
 
Join Date: Oct 2009
Location: Tacoma Wa
Posts: 182
Quote:
Originally Posted by Traveler II View Post
We retired 12 years ago. During that time the economy has been all over the place. We’ve managed to navigate the hurdles and are doing OK and enjoy ourselves. We travel about a 1/3 of a year in our 5th wheel, (Cardinal).

I was thinking that if I had to make the decision now to retire or not I’m not sure what I would do. I’d be pulled between knowing I was getting older and would want to enjoy good health and do somethings I want to do, versus waiting.
I have to agree with you, retire and ENJOY Life. I watched my dad work until he was 73, he retired after Mom died. He passed away 3 mothes ago not doing the things they had Planed, Like being snow birds... I my self want to retire when the wife turnsd 62, I will be 59 (I'm 52 now) and I'm able to retire when I'm 56 ( I'll have 43 years Goverment service) and I have seen first hand why Not to work longer..
Last year we did our first Long trip in our RV, Colorado and back, and we enjoyed every part of it, No big Hurry to get there drive no more then 6 hours a day, take it slow and Back roads most of the way, Kind of like Life, Dont go Fast, slow and easy and ENJOY
and Yes, You do have to Plan ( wish I learned that when I was in my 20's) But I was in time to refi the house down to a 15, and it will be paid off Befor I retire..
__________________

Hatchet
Chevy 2500HD Diesel
07 SandPiper F305


Days camped 2011 "3" so far,
Hatchet58 is offline   Reply With Quote
Old 10-15-2010, 09:14 PM   #7
Jan Goldfield
 
pondlady's Avatar
 
Join Date: May 2010
Location: Slidell, La
Posts: 534
I sold my business after Katrina and have not looked back. I am 69 years old. Donna still has her practice and does not want to give it up completely yet. She is 64. But she is working only three days a week and taking two months a year for traveling.

I only worked throughout my life to feed my travel addiction. If I wanted to take a year off, I would sell my business at the time and start over when I got back.

After the Katrina dust settled, I was bored and needed a few bucks for a TT and TV, so started day trading. Come to find out I like it and can do it from the road. I also write for garden magazines and take photos as well. That's something else I can do on the road. If we could sell our house, we would be full timers now.
So retirement? Yes, but with a bit of work on the side.
__________________
Jan Goldfield and Donna Morse
Slidell LA

2009 Cherokee Grey Wolf 28BH
2009 Ford 150
pondlady is offline   Reply With Quote
Old 10-15-2010, 09:33 PM   #8
Senior Member
 
Hipshot's Avatar
 
Join Date: Aug 2009
Location: Waco, Texas
Posts: 222
I agree with Hatchet 58. I saw my grandfather and father work until they couldn't then retire and pass away in a few years. I decided years ago I would retire as soon as I could. I took a simplistic view about retirement.

1. Determine what you want to do in retirement, be realistic. (I believe most people don"t know what they are going to do)
2. What will it cost. (Be conservative, it will cost more than you think)
3. Pay off debts
4. Get the money (pensions, savings, stock market)
5.When you have the money, income, retire (retirement should not be connected to some arbitrary age)
6. Enjoy life (set up a annual budget and STICK WITH IT, mine goes out 35 years, you don't want to outlive your money and be the greeter at Walmart)

I retired 16 months ago at 63, should have retired at 62. The falling economy spooked me. I think most people fail to plan for retirement and depend soley on social security and are shocked when they see what it pays.
just my 2 cents
__________________
2010 Rockwood 2604SS
2008 Silverado 1500 LTZ 4X4

Great Wife and Idiot Yorkie
True Friends are like diamonds, precious and rare.
False ones like autumn leaves found everywhere
Hipshot is offline   Reply With Quote
Old 10-15-2010, 10:12 PM   #9
Senior Member
 
Join Date: Aug 2010
Location: Manitoba
Posts: 1,283
We retired as soon as it was feasible, and were lucky to do it at 55. We could have worked another 5 years and had a few more bucks to spend, but my body was telling me it was time to relax. We just live within our means (although we are splurging on a month in Costa Rica this winter).
__________________
crocus is offline   Reply With Quote
Old 10-15-2010, 10:21 PM   #10
Moderator Emeritus
 
Join Date: May 2010
Location: Ontario, Canada
Posts: 801
I'm officially retired from GM the end of the month. Due to my plant being slated for closure a month after our CBA was ratified. GM was forced by Labour Relatons to settle a lawsuit. As a result 3,600 of the Truck Plant employees that had @ least 26 years of service could grow into retirement rather tahn bumping 3,600 junior employees @ the Car Plant next door. I had 28 years when I left.

I had always planned on retiring when I reached 30 years. My grandfather worked until he was 65 & retired w/ 42 years. He died 3 years later.

My father retired @ age 55 w/ 34 years in there as a draftsman. He passed away earlier this after 22 years of enjoyable retirement.

Hopefully mine will be as good as my father's. Buying the TT was part of my plan to see more of North America that what I've already seen.

I haven't had any problems adjusting as I was not enjoying the work I had been doing the last few years & I was dealing w/ 2 supervisors that were universally despised. I have several activities that I participate in, so finding something to do, isn't a problem.
__________________

__________________
2017 Chevrolet K2500HD, Husky W/D hitch
2009 Rockwood 2106 Mini-Lite
Nights camped 2010: 21
Nights camped 2011: 17
Nights camped 2012: 8
https://inlinethumb45.webshots.com/3...600x600Q85.jpg
revrnd is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



» Virginia Campgrounds

Reviews provided by




ForestRiverForums.com is not in any way associated with Forest River, Inc. or its associated RV manufacturing divisions.


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 11:43 PM.