RETIRING ---FINALLY

[Mace Canute]

Right now I am at home recovering from cancer surgery; I plan to return to work in April. I don't know as yet how I will feel at that time and I'll need medical to approve my return. It's hard to give up a fat income and all that it buys, weighing that against living like Peter Pan.

My options are:

A] Return to work an additional 3 years to make my full 25 years, with full pension.

B] Return to work and complete the year making 23 years at a slightly reduced pension.

C] Return to work and complete the year as a part timer making 23 years at a slightly reduced pension.

D] Return to work for a few months until a replacement can be found.

Hopefully your recovery will go as well as mine has gone.

My last day on the payroll was May31, 2009. Four days before that, on May 27, I found out my right kidney had to be removed because of cancer. All went well thankfully. I had hoped to have a couple of years at least free of health problems once I retired but I didn't quite make it. Oh well.

My opinion is that you should seriously consider Option A...returning to work an additional 3 years to make a full 25 years, with full pension.

You'll have the full income during the three years which will help with up coming costs and having a full pension will probably be something you will be happy about too some day. Costs of living are going to be much higher in the future and every bit of income you can earn now will serve you well in days to come. 3 years isn't all that long of a time either.

 

[QRTRHRS]

Congrats on your choice. Having been through a divorce, seen my 401 evaporate back around 01' before it was "fashioable" and then a plant closing in 03', any plans for early retirement were thrown out the window.

Depending on where this healthcare issue goes though, I still may retire in two years when I hit 62. Being around the property all the time would get boring so I might find something a day or so a week to do or perhaps do some flea marketing just to get out and socialize. Maybe some volunteer work too.

 

[MF 1532]

CONGRATULATIONS ! I know circumstances helped make your decision easier . Good luck and enjoy :thumbsup:

 

[JDgreen227]

Oh, just wanted to inform you of the REALLY BIG PROBLEM most guys have when they retire:

TAKE HEED: You will have less money, but a lot more time to spend it. With that possibly unwanted and unneeded bit of wisdom passed along, I will climb down off my soapbox, then siddown and shuttup.

 

[Transit]

Dually noted but not a problem. My income will be the same with less taxes, that is why I worked an additional 5 years past 65 to build-in a cushion for inflation. The problem is that the cancer complications have taken a lot of my stemma and I am trying to regain my strength. Just came back from a 2 mile walk, not to difficult walking up the front steps. Last week the left leg needed some help. Later I will pump some iron, 20 pounds, but I need a rest for now.
It is all the sudden adjustments to contend with, cancer recovery, retirement, government health care issues and a change in income.

 

[turbo36]

Dually noted but not a problem. My income will be the same with less taxes, that is why I worked an additional 5 years past 65

If you are 70 and have health issues I would look at taking time to "smell the roses" not "punch the clock".

 

[Jagmandave]

That's fine for those of you that have a pension, but for us poor folks who simply have worked all our lives, it's a little different story.

I'm by no means poor, our home is paid for, we have no debt and our cars while not new are not old junkers either, and we've managed to put about $300K away.

But when I look at what we spend every month (and we are not the kind to go out to dinner every night or spend foolishly) I still don't see how we're gonna make it very long with what we have saved, not to mention trying to enjoy those last years via travel and so on....

Then I think about how taxes keep going up, costs for everything from fuel to food keeps going up in leaps and bounds - I just don't see how to do it....

I'm 62 this July and I'd love to quit, but even tho my wife would work for a few more years, she doesn't make that much money. The numbers just aren't adding up for me, I may have to work till I'm 70....and by (assuming I'm still around) then my poor old body will be so worn out I won't even want to go anywhere or do anything. Doesn't sound like much of a retirement, does it?

For those of you who can do it, more power to you! :thumbsup:

But I don't see me joining your ranks unless she hits the big lotto or something....

 

[JDgreen227]

That's fine for those of you that have a pension, but for us poor folks who simply have worked all our lives, it's a little different story.

I'm by no means poor, our home is paid for, we have no debt and our cars while not new are not old junkers either, and we've managed to put about $300K away.

But when I look at what we spend every month (and we are not the kind to go out to dinner every night or spend foolishly) I still don't see how we're gonna make it very long with what we have saved, not to mention trying to enjoy those last years via travel and so on....

Then I think about how taxes keep going up, costs for everything from fuel to food keeps going up in leaps and bounds - I just don't see how to do it....

I'm 62 this July and I'd love to quit, but even tho my wife would work for a few more years, she doesn't make that much money. The numbers just aren't adding up for me, I may have to work till I'm 70....and by (assuming I'm still around) then my poor old body will be so worn out I won't even want to go anywhere or do anything. Doesn't sound like much of a retirement, does it?

For those of you who can do it, more power to you! :thumbsup:

But I don't see me joining your ranks unless she hits the big lotto or something....

You can begin collecting SS at age 62, at a reduced benefit though...but even if you both drew $900 a month after taxes in SS $1800 a month isn't much these days, even with your mortgage paid off...our property taxes and utilities alone are over $600 a month, then add in another $300 a month for vehicle and home insurance, there goes half your Social Security income right there...it galls me no end our government hands out billions of dollars in aid to other nations when we have so many needy senior citizens right here...but that belongs in the politics forum...

 

[6thgpSF]

I worked for Uncle Sam for 37yrs and retired at age 55yrs.I love being retired and doing what I want.In June I go into the V.A. for a hip replacement but I see that as a minor setback and should rehab OK.I've used the V.A. as my primary health provider since I got out the service and thank god I can.good luck and have fun in your retirement! russ

 

[Mace Canute]

......... I worked an additional 5 years past 65 to build-in a cushion for inflation.........

If you are 70 and have health issues I would look at taking time to "smell the roses" not "punch the clock".

Darn! When I replied to you in Post 11, it sounded to me like you were much younger. I agree with turbo36...pull the pin and enjoy life!