Bumping this thread. How are you guys doing who have retired? I just turned 64, must wait for 1 more year until Medicare kicks in. I THINK my finances are okay to retire at 65 or 66 but who really knows? It's like the old saying, "I have enough money to retire.......if I die next Thursday". But seriously, I know it's relative to one's standard of living, but how much is really enough? The company I have worked at for the past 20 years has been bought out twice, and at this point I HATE the general manager (the owner is never on site so I can deal with him). I'm scared of being bored more than running out of money.
Workplace Is anyone here less than 5 years from retirement?
- Thread starter SWlife
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I think it's great. I retired very early though. I had a wealth management firm and my advisor ran numbers twice the year before I retired to make sure I would be okay.
There are a number of do it yourself calculators out there you can use. One is on this forum http://www.early-retirement.org/forums/
Good Afternoon,
Turning 63 in a couple of weeks and holding out until 66 for full retirement benefits. I do not want to wait until 70 in case something happens which prevents me from traveling. 401k and savings. Last I was told, 401k should be at least 10 times your final gross annual salary before taxes. I doubt that I will get to that goal in 3 years. But no matter what, I will be out at 66. I will have to find something else to do....perhaps pet/housesitting.
Warm regards,
California53
Turning 63 in a couple of weeks and holding out until 66 for full retirement benefits. I do not want to wait until 70 in case something happens which prevents me from traveling. 401k and savings. Last I was told, 401k should be at least 10 times your final gross annual salary before taxes. I doubt that I will get to that goal in 3 years. But no matter what, I will be out at 66. I will have to find something else to do....perhaps pet/housesitting.
Warm regards,
California53
California53, I have never heard that about retirement accounts should equal 10 times your gross salary. I have a little more than that now but am still concerned that it won't be enough. I would actually like to do something part time after I retire in 2 years, to combat boredom and have a little extra spending money. I'm going to look into as many of these retirement calculators as possible. I don't want to have to "count" on a part time job.
My 62nd birthday is in 13 days. Of course, I've already filed The paper work and all is in order. I won't actually get my first SS check until mid April & it's not retroactive- I don't know why I still have to wait more than 2 months. But whatever....
I had an unfortunate turn of events at my company that made me retire early, 58 and a half. I ve been thinking for the last couple of years how nice it would be to retire and voila! My hubby has been retired for five years now and he likes that fact that I'm at home now. The first thing I did was to volunteer in my mtn community.
I admit I'm scared, excited and know I need to keep busy. It's great to read about how others handle this big change in your daily lives. So keep posting about your experiences.
I admit I'm scared, excited and know I need to keep busy. It's great to read about how others handle this big change in your daily lives. So keep posting about your experiences.
I have a former client that sold her business for a really sweet number. She spent a year traveling and now is back...she works part time at an amazing retailer to get...health benefits
Being her own business owner for years, I'm like, you pay it anyways! But, she has the write off, which makes the $800 a month easier to swallow. So now she works part time just for that benefit, the location is across from the Marriott where she has a gym membership...super easy.
I actually also know a few folks who do part time work at companies that have excellent benefits for part timers. Nothing stressful. Something to kill time, meet new people...plus the benefits. Honestly, I would never retire but that's the route I'd go...
I was planning on working until 67/70 originally. I've been working full time for 40 years. Just turned 60. Company going through big changes. Stressful for many and no one I'm around is happy with the changes. Now thinking about 62 or sooner. 2014/15 was in a high stress situation and thought I was going to have a heart attack or breakdown but too early for me to afford to retire. Last year was fun. Now it is just a very unhappy workplace. Very large company, total reorganization. Not sure how much more I want to deal with [emoji853]
Retirement is great. It did take me a good 18 months to get used to it, I felt like there was something I was supposed to be doing! But I do recommend that you set some type of schedule, not a tight one but maybe some activities, visiting friends, working out, whatever. Don't let your brain be without stimulation and challenge!