fast approaching target age
I will turn 62 the middle of February, my target age, meaning I can retire without penalty. I am fortunate to have a "defined benefit pension" that I will get, as well as being able to draw social security.
I have worked as a construction engineer so my time off in good weather has been almost non-existent. I've squeezed in a handful of bike trips, but only the week-long variety.
I have to admit that retiring for me is a difficult concept to deal with. I have mixed emotions about it. I don't feel old enough to retire, but at the same time, the face in the mirror is not getting any younger. I worry about having enough money after I retire. I'll have 29 years in at my current job, so that amount of time would give me a decent pension, although not a great one.
My boss is an unpleasant, in-your-face micro-manager. I call him my "retirement incentive."
I'll probably retire by mid-July of this year unless I chicken out. :dunno
Please continue this great discussion
As someone who is struggling to make the decision to 'retire' or not, I keep thinking of all the reasons pro and con and never seem to be able to resolve them. It's almost as if I want everything to be perfect before making the leap. Is that unusual? I have seen some people around me make the decision easily and go on to awesome experiences and others force to because of downsizing companies or illness and yet land on their feet and end up feeling and doing better overall than working for someone else every day. Is making the decision and acting on it that difficult for everyone?
Retirement or do something different?
I'm one of those folks with an old-style pension working with folks that had a choice 25+ yrs ago. As you can guess, I don't talk too much at work about any future plans. However, after you've done something for a few decades, it is time to move on to new challenges or different perspectives. In a few years that will be me. What happens at that time will be as much a mystery to me as tomorrow is today.
A few years ago, I read an article on the naming of a new CEO for BMW AG. According to the article, BMW selects perspective upper management candidates when they are in their early 40"s, puts them on a path and then selects new CEO's that's in his early 50's from that pool of candidates. At age 60, the CEO must retire from his position, but can stay with the company in some technical or professional role. In many aspects, I like that idea. Give the guy some training, if he's good let him be the boss for 8~10-yrs, then get some new blood in the top spot.
New blood is always good and we can all be that in a new spot or place.