How is retirement treating you??????

[BB_TX]

I've still got about 2 1/2 yrs before retirement. But I won't have to worry about a pension plan. We don't have one. But I am not sure if that is good or bad. The company that once owned us had a pension plan. But when they sold us 20 yrs ago, the new owner did not. But they started a 401K with a pretty generous contribution plan and it has done quite well. And the former owner has teetered on the edge of bankruptcy for years. Don't know how well their pension is protected. The 401K plus other investments should provide a pretty decent retirement. The downside of course is I have to pay for insurance.

[EastTexFrank]

</font><font color="blue" class="small">( <font color="blue"> They tell me that they are amazed at how much Americans work. </font> )</font>

I'd agree with that ... and they have a completely different attitude towards it.

I always tease my son who works for Shell in the UK. He is a production supervisor offshore. His work schedule rotation is 2 weeks on the platform and 3 weeks off, 2 weeks on and 3 weeks off, 2 week on and 6 weeks off ... that's right, 6 weeks off. It seems that by law, they have to work the equivalent of a 40 hour week. That's just not the same oilfield that I spent my life in. I mean that it's not even like it's a job. It's more like something to break up your vacation.

By the way, I love retiement. If I'd known it was going to be this much fun, I probably wouldn't have started work at all. Certainly our lifestyle has changed a lot. We have good health coverage, although it isn't cheap, and not nearly as much ready cash as we had when we were both working but you know, I don't miss the Bimmer or the Jag one little bit, nor all the other things that we used to think were so essential. My wife and I had some good, good times in the 26 years of our marriage and I wouldn't trade the memories for anything but I don't think we have been so consistently happy as we are now. The last 8 years since we moved to this place and retired have been fantastic. I hope it lasts another 40 years.

[pajoube]

So far retirement is very good but beware of the following:
1. I am spending 110 percent of what I made [img]/forums/images/graemlins/mad.gif[/img]
2. Health insurance is becoming more and more up to me.
3. I took out lump sum which was very good.
4. 401 was at full amount during working period.
Should have to go back to work in 25 years to survive [img]/forums/images/graemlins/tongue.gif[/img]
PJ

[edski]

</font><font color="blue" class="small">( How is retirement treating you?????? )</font>

It's playing hard to get.
...but 2016 is right around the corner [img]/forums/images/graemlins/frown.gif[/img]

[sneaky_pete]

I don't plan to retire per se; I love what I do and how we're living, and I'm only working part-time (most of the time) now anyway. We have very little debt and I've been saving in 401(k)'s and SEP IRA's, but when the rest of the kiddos are schooled and married off or whatever then I'll probably cut down on my working hours some more, and maybe move back to the mountain west. I've never depended on anyone's defined benefit pension plan to cover me - too risky IMO.

[r0GuE]

How's 2040 sound? [img]/forums/images/graemlins/shocked.gif[/img]

35 miles a day commute x 255 days a year x 35 =
312,375 commuter miles from retirement
/30 MPG x $2.50/gallon= $26,031 of fuel from retirement [img]/forums/images/graemlins/wink.gif[/img]

****.. My back or liver will give out before then. Enjoy it boys! I truly do not think retirement is a reality for young workers today. The 20th Century (in my opinion) will be the only generations to have known this luxury. [img]/forums/images/graemlins/frown.gif[/img]

In fact, I'll likely find a slick politician has pushed me out to 2045 by the time I get to that point. If I had the $$, I'd save it and try to make my own retirement..

[hazmat]

My employer is on that list... [img]/forums/images/graemlins/mad.gif[/img]

There was an article in the Boston Globe a few weeks back that described how employers were phasing out pensions by not offering them to new employees. I'm "vested" now, so If they really shut it down, I'm sure I'll get a DEEPLY discounted present value payoff [img]/forums/images/graemlins/mad.gif[/img] [img]/forums/images/graemlins/crazy.gif[/img]

Guys who are retiring now with 20-30 years in are getting a sizable amount. With Soc Sec - they are replacing &gt;60% of their income - before touching any other savings (we have a 401K too) Assuming that their house is paid for, that's a nice income stream. Of course it isn't indexed for inflation...