Author Topic: At what age did you, or do you plan to retire?  (Read 26481 times)

Zooport

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At what age did you, or do you plan to retire?
« on: October 29, 2017, 09:42:45 PM »
Just turned 60 and the thoughts of retirement are beginning float around in my head.  Not sure I can swing it for a few more years, but I was wondering when my fellow zoners plan to retire.  Or, if you have retired, what age were you when you did the deed?
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Old School 213

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Re: At what age did you, or do you plan to retire?
« Reply #1 on: October 29, 2017, 09:50:49 PM »
Zoo, at 51 I don't plan on it. When the time comes I'll just hang up my own shingle. I had a guy I've met a few time say last night "you're retired, right?" I was almost offended..... maybe it's the white beard.



Badger

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Re: At what age did you, or do you plan to retire?
« Reply #2 on: October 29, 2017, 10:27:33 PM »
I never made enough money to retire so I guess I'll be working as long as I'm able.

I was always too busy to work. I new I'd have to pay for it someday. I guess that day is now.
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Quickbeam

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Re: At what age did you, or do you plan to retire?
« Reply #3 on: October 29, 2017, 11:11:57 PM »
I’m now 64 years young and retired when I was 56. Best move I ever made. My retirement years have been the best of my life.

I was fortunate in a way in that many years ago I worked in an industry where the retirement age was 55. I left that job long before my retirement, but I saw a lot of people retire early, and I saw first hand the benefits of early retirement. The people I saw who retired early almost all thoroughly enjoyed it. They looked better than when they were working and were having the time of their lives.

I didn’t forget what I had witnessed and early retirement became a goal of mine. I married later in life and it was the first marriage for both my wife and I. We became pretty diligent savers when we were working and we set a goal to retire early. Now we are reaping the rewards.

It really is a great time of life. If people ask me about retirement I usually tell them that they will know when the time is right. But in the back of my mind I can’t help but think that you never get these years back. So for anyone who is thinking about it, I’d say go for it.

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nalu-sup

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Re: At what age did you, or do you plan to retire?
« Reply #4 on: October 30, 2017, 01:32:41 AM »
The thing is, the things that I love to do are ski, surf, and windsurf. Teaching those are my careers (well skiing and windsurfing anyway). I have been teaching skiing for 48 years, and windsurfing for 35 years. The people that I teach are all pretty skilled, and many would be considered to be experts, so being on the snow or ocean with them does not really hold me back from enjoying myself. My students are also my best friends, so in fact it adds to my enjoyment. At 66 retiring does not really have much appeal. I did make a change when I hit 60. Up until that point, I taught all day every day all winter, and 6 days a week all summer. At 60, I cut back on my hours by about half, and now can spend more time skiing, surfing, and windsurfing with my wife. It feels a lot more balanced, but fully retiring sounds like less fun and less rewarding than what I have going now, so I don't look forward to it in my future anytime soon. I suppose that sometime in my 70s my body may force the issue, but hopefully not for a long time.
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Night Wing

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Re: At what age did you, or do you plan to retire?
« Reply #5 on: October 30, 2017, 05:24:04 AM »
My dad retired when he was 50 years old. He passed away at the age of 85. He told me when I reached the age of 50, to retire early if possible and really enjoy the rest of my life. I was lucky in life to retire early, without the worry of "not having enough money to retire". I made good money all my life and started planning for retirement when I was 23 years old.

So when I reached 60 years of age, I had the money to retire and I did retire in August of 2010. I'll be 68 years old this upcoming February. And I've enjoyed my 7 plus years I've already been retired. Basically, when I retired I became "foot loose and fancy free" to do anything I wanted to do.

I do have two regrets though. Since I came from the maritime industry, there are times "I really miss having the feel of a deck of a boat under my feet and also the rocking of a boat at anchor".

BTW, my wife planned to retire early too. She worked at the same place for 33 years and started saving money for retirement at age 22. Money wise, she was able to retire when she reached the age of 55 in June of 2007. She's even "more foot loose and fancy free" than I am because she is always on the go.
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CaptainKook

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Re: At what age did you, or do you plan to retire?
« Reply #6 on: October 30, 2017, 06:40:43 AM »
I’d like to retire at 65but don’t think it’ll be possible.
Will have to at least be part timing something forever.
The way the longevity factor runs in my family I’ll be happy to work the rest of my life and be healthy enough to do so. I’m in education so it’s not impossible to continue. 

eastbound

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Re: At what age did you, or do you plan to retire?
« Reply #7 on: October 30, 2017, 07:21:27 AM »
i like a mix of work and play--at least for now

i also worry about the state of the world and that i will leave children/grandchildren behind--i have come around to the importance that i have money for them, and leave them money---i dont feel i owe them, and have provided well until now, esp with expensive education, but feel like, if i have the means whereby i can leave them money, i should wring it out a bit

and i dont tell them about this--i tell them they need to become financially independent of me

myself, i dont really want for much.......and i work for myself, essentially, so can take what time i want

i see getting to a place where i go to my office only 50% of the time, defer much to my junior partner, and slowly turn the biz over to him. For now tho, I go in all the time, run everything, but still get most swells
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esskay1000

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Re: At what age did you, or do you plan to retire?
« Reply #8 on: October 30, 2017, 07:45:51 AM »
For us white collar computer jockeys, life is short, too short to spend trapped in an office 40+ hours a week. I used to LOVE my job and my industry, but those days faded fast. I love being outside, on my board, or cycling, or climbing. I started saving at 25 and have lived below my means for 22 years now, and it's paid off. I just "semi-retired" by going half-time at my job at the age of 47. I'm off today, and will be on my board by lunchtime.  I'm only 6 weeks into this journey but it's amazing so far, I have half my time back, to do things I wanna do :)

When I was in my early 30's I saw so many of my senior managers who were beyond stressed, overweight, grey, balding, and just depressed - in their mid-50's. And I would hear them say "man I hope I can retire when I'm 65..."   Yeah, another 10 YEARS of that misery. All the while they made 6-figure salaries but were still in debt and spending it all. It's classic lifestyle inflation. I saw that path and said "no effing way is that my plan!"  I saved, invested, didn't give a crap about keeping up with the Joneses, and here I am now reaping the benefits. I could probably fully retire but for now need to keep my healthcare. We'll see.

There were a lot of early retirement blogs that helped me on my path with inspirational writing. If I could reccomend one post it would be this one. This sums up why time is our most valuable resource - http://thehappyphilosopher.com/how-understanding-the-marginal-utility-of-money-will-make-you-happier/

No one ever said "I wish I spent more time in the office" on their deathbed...
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supdiscobay

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Re: At what age did you, or do you plan to retire?
« Reply #9 on: October 30, 2017, 08:06:29 AM »
I have been appraising commercial real estate in Northern California for 32 years.  Investments over the years will make retirement possible, within the next 5 years (I am 56).  I have had my own company that entire time and my friends think I have been retired for years now.  Used to have as many as 6 employees and now its just me and my wife, working from home.  We have a a great clientele and are able to pick and choose what jobs we want.  I have been doing it so long its easy.  After our youngest finished college 2 years ago, the pay raise was huge, and we cut back on the workload to have fun.  We will likely continue to take 2-6 week "vacations" and continue to work well into our 60's and possibly 70's, just not as much and be very selective on the assignments.
We already catch the swells we want or the big snow falls up in Tahoe, and water ski in our backyard (the Delta) 2-3 days a week, and get to the track to race my drag car, so life is good now.  Each year we work less and earn more, and play more. Hoping that trend continues.
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lucabrasi

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Re: At what age did you, or do you plan to retire?
« Reply #10 on: October 30, 2017, 08:12:21 AM »
After more than 30 years doing the same thing and almost 20 of a brutal commute I changed things up this year and am working from home and trying to make a go of doing stuff online. Scared, excited, and all sorts of emotions go along with it. It's always interested me and almost did it 10 years ago. I should have then but the steady and reliable money coming in while my kids were in college it's probably the right decision I waited even if I missed out on some opportunity. All over the place with my plan in the ways I will generate money. Learning lots, had a great start out of the gate but has slowed down. Need to get it figured out where it is a little more stable or predictable coming in.
I didn't retire but I kind of did. I can do this when I am 70, I can do it anywhere, I can leave it to my kids. I won't do anything with it that I can't leave to my kids.
I go a bit stir crazy even tho I am putting in lots of hours.
I guess what I am saying towards your question and knowing your potential life changing event with your moving is....really consider retiring/doing something different. We're only in this for one ride.
Mid 50's here.
« Last Edit: October 30, 2017, 08:14:10 AM by lucabrasi »

surfinJ

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Re: At what age did you, or do you plan to retire?
« Reply #11 on: October 30, 2017, 08:14:07 AM »
So alot of what you guys are saying is confirming my feelings.

I'm 57 and have been partly retired for the past 8 yrs, working at a 2/3’s pace.
Doing this I was able to extend the union enforced retirement age of 56 out to almost 59. As the remaining time quickly dwindles I’ve been caught in conflict of wanting to continue the job I love or increase my water time while still “young” and healthy. The problem being that to continue would require going back to probably quite a bit more than the time I am now working, about 150%, and under much less favorable conditions.

Just a couple more years could leave me as a burnt out 60+er or worse. I’m reasonably set up with a retirement fund now so this would be, aside of continuing an already 38yr long career, just a money chase.

The answer seems obvious.

krash

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Re: At what age did you, or do you plan to retire?
« Reply #12 on: October 30, 2017, 08:24:11 AM »
My long term plan was to retire at 70... working in data communication technology was interesting and not that stressful. As time passed and dot.com crashes of the early 2000's, then the offshore movement with technology companies, byuouts, mergers, cutback's, layoffs, pay cuts over the last 13 years the politics around the job made it very stressful always looking over my shoulders.
Short term plan changed hoping to make it to 66 and retire... then reality checked in.

Had a health issue, near death experience, spent 2 months in the hospital... but survived and was cleared to go back to work, had been on short term disability (insurance) from work. Went back to work and that same day they laid me off after 28 years of dedicated hard work.
No pension, just my savings mostly 401k...

Short finish... Due to health issues I could no longer do any hard labor and in the technology filed that was moving forward very fast the 40 years of experience meant little as only the last 5 years of technical knowledge in my field was relevant. I retired and took early SS at 63 years of age.

Thought retirement would be fun but unless you have a pension, good access to medical insurance, its boring and expensive, but sometimes there is fun.
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supthecreek

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Re: At what age did you, or do you plan to retire?
« Reply #13 on: October 30, 2017, 08:42:47 AM »
Never would have retired, cuz all my life, my time was my own, by design.
I owned a bar for 30 years, open at night, so... not really work.

Family, play... then work.

In 2010, my landlady realized that after my 30 year lease expired, she could steal what I had built...and so, she did.
I lost everything, including my home.

So..... why does this matter to this conversation?

I found I could live quite well on NOTHING.
well, almost nothing...
I get $1,306 in Social Security

After rent, utilities and car insurance
I have $100 per week to live on.

That includes food, gas, clothing, auto repair, travel, entertainment....
everything comes out of that $100

So I budget.
It's amazing what you can live without.

I do sell a few Sunova's a year... and my Van is full of demo boards, so I have the odd extra $$$ to fill in some gaps.... but I don't count on it.

I save up $399 every summer, to join Captain's Golf Course with a winter membership.
Sept. to April, I get unlimited play on 2 championship courses.
It kills the budget.... but 7 months of outdoor exercise is worth it.

I own my 2001 GMC van and 2006 Honda Civic, which I repair myself.

Everyday is MINE.... to surf, paddle, play golf or just lay about making videos.

Safety net? NONE
Do I care? HELL no!

Why?

Cuz I know, that right NOW...
I can still surf
I can still paddle
I can still play golf.

Tomorrow?
No guarantee on that.

Every day...
you are a little bit less than yesterday.

If my shit hits the fan, I will figure it out, or not....
but today is mine.

Some of my friends are dying. Most almost had enough to retire.

My world may look small.... but right now, it's pretty sweet!


Beasho

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Re: At what age did you, or do you plan to retire?
« Reply #14 on: October 30, 2017, 09:11:33 AM »
Every day...
you are a little bit less than yesterday.

If my shit hits the fan, I will figure it out, or not....
but today is mine.

Some of my friends are dying. Most almost had enough to retire.

My world may look small.... but right now, it's pretty sweet!

You GO Creek!

 


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