Retirement!!!

[AKsuited]

HOORAH AKsuited

Thank you.

I plan on leveraging my interest in touring on the bike to get me the heck out of there.

A buddy of mine is pushing 70 and still working with no plans to ever retire from what I can tell. The guy scares me

Harry

[36654]

A buddy of mine is pushing 70 and still working with no plans to ever retire from what I can tell. The guy scares me

And let me ask you.....what does your buddy bring to his job? New approaches and ideas? Any new designs?

Retirement is good for you, your employer and the smart young folks that need the experience of doing your job. Everyone benefits by gaining experience and there is rarely one best answer to any problem.

[hlothery]

You make things sound so good, you almost want to make me take up golf..........almost!

Golf is the best game I have ever hated!

[RINTY]

Good to hear you're having fun, Hugh.

In the summer do you play your rounds very early in the morning?

[AKsuited]

And let me ask you.....what does your buddy bring to his job? New approaches and ideas? Any new designs?

He has a cushy job that is low-stress. He has no new ideas or ever does anything controversial.

The sad part is he has a defined-benefit pension with so many years in that his income would go up when he retires, not down, since he would also collect social security on top of a pension that is almost as much as his salary. And since he has put off social security for about 8 years, he will be raking that in, too.

None of it makes any sense, and as you point out, a young person somewhere is doing without a job...

Harry

[36654]

He has a cushy job that is low-stress. He has no new ideas or ever does anything controversial.

The sad part is he has a defined-benefit pension with so many years in that his income would go up when he retires, not down, since he would also collect social security on top of a pension that is almost as much as his salary. And since he has put off social security for about 8 years, he will be raking that in, too.

None of it makes any sense, and as you point out, a young person somewhere is doing without a job...

Harry

When I see cases like that, I really appreciate BMW's management philosophy which cycles people through management positions. Do your job then move on.......let the next guy have a chance to do a better job. Hopefully, he does and we get something called progress.

[RINTY]

None of it makes any sense...AKsuited

For some people, money is not the motivater, they get satisfaction from what they are doing. Or, having realized they have no more stuff to buy, they have a new perspective on figuring out what gives them the most satisfaction in life.

One of my clients, who has a very high net worth, is still doing deals at 78.

[sudani]

Retirement is closer than I ever imagined.

[osbornk]

For some people, money is not the motivater, they get satisfaction from what they are doing. Or, having realized they have no more stuff to buy, they have a new perspective on figuring out what gives them the most satisfaction in life.

One of my clients, who has a very high net worth, is still doing deals at 78.

I think a lot of it is the fear of change as well as the fear of making a wrong decision. My aunt and uncle were products of the depression and continued to work and would not buy things they needed even though they were worth millions. My uncle stopped when he died and my aunt stopped when she was sent to a nursing home.

[hlothery]

Good to hear you're having fun, Hugh.

In the summer do you play your rounds very early in the morning?

Sorry for the late response....I've been at the beach! I play anytime, love the heat of the afternoon when the bones don't hurt as much. But I play in the mornings on weekends when my buddies who are still working want to work golf in. I'm also volunteering as a rules official for some of the local amateur and junior tournaments, which is very rewarding and enjoyable. Have to limit that, though, cause it almost resembles work!

[Bunker]

A few years ago my employer went through some tough times (now we're making solid profits). During the tough period, management convinced our union representatives that if they didn't give up our retirement fund, the company would fail. With the stroke of a pen, and without a rank and file vote, our pensions were gone. This is not to start a union vs. management debate, just to set up the following:

The joke going around the company now is:

The bad news is: you now have to work 'till you die.

The good news is: it probably won't be that long.



Thanks to all for your comments regarding retirement. There have been major changes at my company that seriously affect my lifestyle. Though I still love my work, conditions have changed and I can see that if I hang on until my mandatory retirement age, I'll be a candidate for the above 'work until you die,' and it won't, unfortunately, be a joke.

This thread has convinced me that it's time to do some serious self-education followed by a decision. Thanks to all who have contributed.

Tim

[36654]

Though I still love my work, conditions have changed and I can see that if I hang on until my mandatory retirement age, I'll be a candidate for the above 'work until you die,' and it won't, unfortunately, be a joke.

This thread has convinced me that it's time to do some serious self-education followed by a decision. Thanks to all who have contributed.

Tim

If your pension is gone.......how do you have any option other than working until your savings can support you?

[Rpbump]

Dec 28, 2012 is my last working day. I'm looking forward to retirement. Since turning 70 in August I've been making a bucket list of things to do while I'm stiill able to ride. Ride Safe

[Bunker]

If your pension is gone.......how do you have any option other than working until your savings can support you?

My pension was the foundation of my retirement plan. Fortunately, since I planned to retire a) early, and b) comfortably (not just surviving), I squirreled away some 'extra.' Now, what was supposed to be beer money is the main cache. So... my thought is to adjust my expectations for retirement, see what kind of lifestyle I can support (that includes at least one Beemer), and plan a new exit strategy.

I know I can't go at my original target date, but what I might be able to do is reduce my hours (say, work one less day a week), so that I can enjoy life a little more now, as opposed to beating myself to death for the sake of leaving behind a larger estate.

Like many have said, it can be a question of balance.

Tim

[bullet]

398 days until I'm eligible to retire from my government job.
It's gonna be great!