Perils of retirement

[Kentuckyfarmer]

Pulled the plug almost 18 years ago. 35 years of teaching. The kids, for the most part were great. Some of the parents, not so much. Now I perform with six different music groups on five different instruments. In my "Spare" time I have helped a friend to restore two Austin Healey 3000s, a '67 Volvo wagon, and a Oliver 70. Now I get to try to restore the "Oliver Parts Tractor". I'll add that to the Farmall "A", Allis "C", Gehl loader, home-made backhoe, '83 International 1700, GMC 4104, Cat D4 and White "Road Commander 2". Other than that I don't have a thing to do.

With just that little bit to do you really need a hobby for sure. I would be embarrassed to say thats all I had to do. Lol no really sounds like you need 48 hour days instead of 24. Us older folks like to see the older machines running and not forgotten. Possibility you could post some pictures?

 

[Doofy]

That's what I need...a good hobby. Just haven't stumbled upon the right fit yet.

 

[ovrszd]

Don't you dare throw me in that retirement brier patch....

I am kinda "semi retired". Still selling some health insurance, but more retired than not.

Good reference James!!!

Had been wondering about your status.

 

[Norm W]

Ok, You asked, here are some of them. The first picture is of the 4104, '83 International with van-trailer, White tractor and plywood cab pickup. The second is of the White with a detach goose neck trailer and the back-hoe.

 

[Doofy]

What ever Kype is Kype to your hearts content. I would guess it's some sort of social media. The only social media I do is tractor by net. No honey bo bo or Kardashians philosophy here.

Kype=Steal. Nope, not on social media either. Sick of bleeding heart liberals and of everything needing to be "politically correct". In my day, a Pollock Joke was funny and did not offend anyone. Nowadays, everyone has become so thin-skinned it's ridiculous.

Our history as a nation is being torn down and our past sins are being white washed away. Racism is on the rise and we can't get along with anyone. Politicians get richer as we get poorer. It's a fine can of worms.

 

[japody]

Traded 1400 employees for 100 head of cattle. Went from stress level of 10 to 0. What perils?

 

[k0ua]

I missed going to work for a day or two, but not really much. I worked on getting my insurance licence and make some sales. I probably work half a dozen days a month. I worked hard every day for a lot of decades and I am taking life a bit easier now. The only peril I can think of is the lower amount of money coming in. Getting up at 5:00 am every morning and then driving 40 miles to work every day no matter what the weather, nah, don't miss it much.

 

[newbury]

<snip> If I stayed longer of course I could have brought home more of the green stuff but money can't buy piece of mind. I make enough to pay the bills and a couple left over for projects I want to do and am happy as a pig in sh?? with that. <snip>

But how much more of the "green stuff"?

It greatly depends on your retirement "system" but mine is CSRS.

I always compared my potential retirement "salary" against the "salary" I was making at the time.
But not working greatly lessened my clothing expenses
My commuting expenses dropped to zero, and if you commute to work you should add those hours into your annual working hours.
My spending on office lunches etc. dropped to zero.
My federal taxes were GREATLY reduced. Taxes on $120K were a lot more than on $80K
My state taxes were greatly reduced and if I finish moving to Mississippi they will be zero.
The 7% being taken off the top for retirement benefits dropped to zero. That was almost $10k/year.

When I did retire (with 37 years) in 2011 my pay rate loss was about $3 or $4 an hour based on a 2,000 hour work year.

Some of my older cohorts had 40 or more years in. When I helped them figure the difference between what they earned salaried vs retired most of them retired. Some of them had actually basically been PAYING to work.

Commuting was a big point for many. Some of them were commuting 2 hours a day (round trip) thus effectively committing a total of 2,500 hours to work. And spending almost $100/week for transportation, 50 weeks a year. Thus those that had a salary of $150,000 before taxes for a 2,000 hour work year had thought they were effectively payed $75/hr., but when you figure in commuting time and cost it was more like $58/hour.

So if you are thinking of retiring compare costs now versus future, you might be surprised.

 

[k0ua]

But how much more of the "green stuff"?

It greatly depends on your retirement "system" but mine is CSRS.

I always compared my potential retirement "salary" against the "salary" I was making at the time.
But not working greatly lessened my clothing expenses
My commuting expenses dropped to zero, and if you commute to work you should add those hours into your annual working hours.
My spending on office lunches etc. dropped to zero.
My federal taxes were GREATLY reduced. Taxes on $120K were a lot more than on $80K
My state taxes were greatly reduced and if I finish moving to Mississippi they will be zero.
The 7% being taken off the top for retirement benefits dropped to zero. That was almost $10k/year.

When I did retire (with 37 years) in 2011 my pay rate loss was about $3 or $4 an hour based on a 2,000 hour work year.

Some of my older cohorts had 40 or more years in. When I helped them figure the difference between what they earned salaried vs retired most of them retired. Some of them had actually basically been PAYING to work.

Commuting was a big point for many. Some of them were commuting 2 hours a day (round trip) thus effectively committing a total of 2,500 hours to work. And spending almost $100/week for transportation, 50 weeks a year. Thus those that had a salary of $150,000 before taxes for a 2,000 hour work year had thought they were effectively payed $75/hr., but when you figure in commuting time and cost it was more like $58/hour.

So if you are thinking of retiring compare costs now versus future, you might be surprised.

You make some very good points.

 

[Doofy]

Traded 1400 employees for 100 head of cattle. Went from stress level of 10 to 0. What perils?

Perils with the Wife. If you leave the toilet seat up long enough, she will eventually fall in.