To retire or not retire?

[Travelover]

......... and then you can take 5% of your savings principal per year

Guidelines are 4 percent per year at age 65 with 50/50 stocks/bonds portfolio. Less if younger than 65. The initial 4 percent figure is adjusted up yearly for inflation.

 

[troutsqueezer]

Plan? You don't need no "stinking plan". Plans are for people who have jobs. My "plan" was to take a couple of months, sit on the deck and read some books while sipping wine. When that was over, then I would think of what I wanted to do next. I retired last April and I'm still waiting to put that "plan" in motion but somehow it never gets here. The wife sees to that. :talktothehand:

 

[brin]

Plan? You don't need no "stinking plan". Plans are for people who have jobs. My "plan" was to take a couple of months, sit on the deck and read some books while sipping wine. When that was over, then I would think of what I wanted to do next. I retired last April and I'm still waiting to put that "plan" in motion but somehow it never gets here. The wife sees to that. :talktothehand:

LOL - Now that's funny, once you make the move it all works itself out somehow and our wives are always right...

 

[mostly_gas]

When my plan is not to have a plan then the wife seems to have a plan "B" :shocked:
Must be a female thing

 

[lew61]

We are blessed to have grandkids nearby and they are old enough to recall my needing to head off to work. Now, we get to spend a lot of time together and they are really liking their grampa-time. :thumbsup:

 

[300UGUY]

Plan? You don't need no "stinking plan". Plans are for people who have jobs. My "plan" was to take a couple of months, sit on the deck and read some books while sipping wine. When that was over, then I would think of what I wanted to do next. I retired last April and I'm still waiting to put that "plan" in motion but somehow it never gets here. The wife sees to that. :talktothehand:

I know guys that waited until all the plan was in place, all the numbers were made, that never made it. One of my neighbor's built a beautiful 500K house, he lived less than 2 years. His wife has been trying to sell the place for years, and recently told us that it is draining her financially. I heard of a saying, "if you want to make god smile, make a plan" Life is short. Get er done today!!

 

[retiredmgn]

Plan? You don't need no "stinking plan". Plans are for people who have jobs. My "plan" was to take a couple of months, sit on the deck and read some books while sipping wine. When that was over, then I would think of what I wanted to do next. I retired last April and I'm still waiting to put that "plan" in motion but somehow it never gets here. The wife sees to that. :talktothehand:

You renegade you.
I was 'offered' early retirement (as in if you don't take it the other possibility is getting laid off/fired)
Gee, let me think...
Can't believe I ever had the time to put in 40-60 hours per week for that place. I took the money and ran as fast as I could.
We're all trapped by our finances. If you can swing it retire yesterday. I don't have the money I used to have but I haven't missed it. Old habits die hard... I still wake up in the night and think I need to get in to work. Such a serene calm comes over me, 'there's no place I have to go'.
I've played guitar since I was 10. I'm currently studying piano and music theory and I have a kick *** small home recording studio. All Christmas gifts I made of stained glass. The 'honey do' list is always manageable.
I'm afraid someone is going to stick a pin in me and wake me up and I'll be back in front of that dam computer at 2am.

 

[Pine Strip]

I think a lot of people on TBN are geezers like me. Tomorrow is is my birthday, 64. I am getting to the age of giving serious thought to retiring. I have mixed emotions. Still enjoy my work but am thinking I might enjoy retirement as well. I have friends who love retirement and some who have gotten bored and wished they wouldn't have retired. Let me know your thoughts. Are you glad you retired or maybe not?

You've been given some good sound advice from others; You need to keep active, hobbies, travel, or a part job that you enjoy..... Do have a plan, even if it's just a sketch. I retired from a stressful line of work at 62, I'm now 64 1/2 so It was an easy decision for me to make once I decided I had enough money to be comfortable on in retirement.
It took about a year and a half to detox from the negativity common in my line of work. Also after working all my life the hard part was to 'not feel guilty about not working'. Once I got beyond those things I found enjoyment in my new niche. I purchased a new Kubota and a new airplane and I never looked back.
There is no correct answer here... you have to find what works for you.

Hope this Helps !

 

[riptides]

I retired a few months at at 52. I will not qualify for ss, or medicare for quite a while.

My company offered an early out and a nice boost in the pension, which I raped and took to another annuity that I think will fare better.

I do odd jobs to maintain a steady flow of green backs.

I go day-by-day and really don't have a plan until whatever happens.....

 

[DKCDKC]

Retired at 55 when my employer failed to live up to their promises in a time of change... And took a package involving some cash and a 5 year jump on my pension. I took a year off, fixed up and sold my house, moved 100 miles west to my family farm, started a new house and got a job doing stuff I really liked - tho for less money. I took a second retirement 8 years later, but now work as a free lancer, and just enjoy being a grandfather, land and tractor owner, and learning new things. I was never sorry I retired, and may go get another job some day just for the heck of it. As long as I'm looking down on the grass from above, there are endless possibilities.

As long as you have interests, other work or family to keep you busy - and you can swing it financially - retire as early as possible... And as often as you like. As others have indicated, doing nothing will bring on early death - or irrelevancy.