When are you going to retire?

Post Reply
User avatar
bkuehn1952
Posts: 2642
Joined: Tue Nov 25, 2014 8:08 pm
Location: The Mitten-Shaped Sponge
dogs: 0
Contact:

When are you going to retire?

Post by bkuehn1952 » Wed Feb 12, 2020 8:04 pm

I periodically see articles about how people want to retire at 40, or 50. It is a nice dream, accumulating a pile of money and playing the rest of your life. My limited experience is paying for medical insurance from age 40/50 could be ruinous. Not to mention all the other expenses of living. If you are like DougE and sold a business and have a spouse pulling down good money, it is less a pipe dream.

Still, my experience with working 2 days a week with pretty much unlimited vacation is that retirement can result in some slow times. I don't want to play golf 5 days a week. I don't want to practice for hours 5 days a week. I do not mind going to work 16 hours a week, especially since it is fairly lucrative for me. Why would I want to completely cut the cord?

So "retiring" at 40/50 might be interesting if one had a paying part time gig that was interesting and/or paid a healthy wage. Just stopping work completely seems like there would be too much empty time. And too much expense unless the pile of money was really big.

What do you guys think? Chuck it all and live on your savings and have 168 hours of free time a week? Or keep working until 65-70? Have I explained this issue poorly? Do you give two shits? Never mind :facepalm
Let's Play 36
GHIN Handicap: 7.8 … 9.2 … Let’s just say I am around a 14!

User avatar
DougE
Posts: 2304
Joined: Wed Nov 26, 2014 9:40 pm
Location: Maryland
dogs: 1
Contact:

Re: When are you going to retire?

Post by DougE » Wed Feb 12, 2020 11:13 pm

@bkuehn1952 I wish my situation was as you describe, but unfortunately, it is not. I did not sell my business (though I tried), just some of the equipment. I have been doing some writing, but am not making much income. I do enjoy it, though. I write everyday, a few hours a day, mostly early mornings and late evenings, maybe 30 hours a week. Some of it is paid, and some of it is for speculative opportunities.

I have no desire to fully retire. Yet. I would actually be open to working more if the right situation presented itself. I want to stay engaged and use my life's experience to continue earning. I need to. Unfortunately, very few corporations want to hire those with a life's worth of experience. Writing allows me to work for people who don't necessarily know just how much of life I have already lived, since much of it is carried out via computer over a network, with little face to face interaction. Only local work is done in person, and at this point, I have one local client. Worthington Manor. And so far, it has been very limited.

If you are interested in how I have been getting by (barely), here's my story, past and present, personal and professional: www.Dougely.net

The site is not complete yet and still needs a lot of editing, plus I'm missing many good (old) writing samples from the past (which I no longer have easy access to). Even so, it should give you the gist. I don't know what the future will bring, but I truly hope it's a lot more work. I can't retire. Not for a long time, if ever. So, I'm always looking for project work. In the meantime, whenever my schedule permits, I play golf. Hopefully, I'll be able to continue to do so, but who knows? So I play as much as I can now.

User avatar
jasonfish11
Posts: 3632
Joined: Sun Dec 07, 2014 9:27 pm
Location: Virginia Beach
dogs: 2
Contact:

Re: When are you going to retire?

Post by jasonfish11 » Thu Feb 13, 2020 10:39 am

I think that retirement means something different to everyone.

Me personally I'm trying to retire on my 40th birthday. But I'll continue working and learning until the day I die, which I hope will be another 50+ years.

To me retirement is synonymous with financial independence. Once I get to a point where I'd be comfortable in my ability to provide for my family long term without having to rely on income from someone else.
Keep it short stupid.

User avatar
GBOGEY
Posts: 849
Joined: Wed Dec 10, 2014 8:22 pm
Contact:

Re: When are you going to retire?

Post by GBOGEY » Thu Feb 13, 2020 10:50 am

My goal has always been to retire in my early 60's, targeting 62, so that's not far away (I'm almost 56). However, I need to put away quite a lot of coin to do so. Mrs. Bogey wants me wants me to work much longer, thinks that it's healthier. I saw my dad and his brothers (we have strong family genes) seem to age rapidly in their 60's so I want to enjoy that time. At this point I could still play golf 4+ times a week and I have a few other hobbies as well (I've started playing tennis again lately for the first time in 30 years). However, the question is what is retirement. I'm sure for me that is going to include some sort of board work / part time venture. So fully retired, I don't know when. But that's the goal.

User avatar
MattF
Posts: 1167
Joined: Sun Nov 30, 2014 5:55 pm
dogs: 1
Contact:

Re: When are you going to retire?

Post by MattF » Thu Feb 13, 2020 12:13 pm

Tomorrow would be just fine for me. However, reality says in about 15 years. We have plans that include moving elsewhere and owning my own business until such times as my son can take it over or I get bored or kick the bucket.
Throw me another ball will ya!

User avatar
Duke of Hazards
Posts: 1400
Joined: Wed Jan 07, 2015 2:29 am
Location: Orange, CA
Contact:

Re: When are you going to retire?

Post by Duke of Hazards » Thu Feb 13, 2020 12:25 pm

Probably in my mid 60's. My dad's side of the family live deep into their 90's and I have some centenarians on my mom's side, so I'll likely have to bank quite a bit. My dad's been retired for 32 years now and now pulling down pension for longer than he worked.
Bluto did it

User avatar
bkuehn1952
Posts: 2642
Joined: Tue Nov 25, 2014 8:08 pm
Location: The Mitten-Shaped Sponge
dogs: 0
Contact:

Re: When are you going to retire?

Post by bkuehn1952 » Fri Feb 14, 2020 4:24 pm

Which raises the question, "Would you want to know the year you were going to die?" It certainly would make retirement planning a bit easier. It would be easy to decide whether to take Social Security at 62, full retirement age or wait until 70.

I guess I ultimately don't want to know. I know it is coming. I don't think I want to know it is 2038.
Let's Play 36
GHIN Handicap: 7.8 … 9.2 … Let’s just say I am around a 14!

User avatar
DougE
Posts: 2304
Joined: Wed Nov 26, 2014 9:40 pm
Location: Maryland
dogs: 1
Contact:

Re: When are you going to retire?

Post by DougE » Fri Feb 14, 2020 4:50 pm

bkuehn1952 wrote:
Fri Feb 14, 2020 4:24 pm
Which raises the question, "Would you want to know the year you were going to die?"
Absolutely NOT!

As it is, I just assume it could be today. That's enough to get me moving every single day.

User avatar
sjduffers
Posts: 830
Joined: Sat Nov 29, 2014 7:11 pm
Location: SF Bay area
Contact:

Re: When are you going to retire?

Post by sjduffers » Fri Feb 14, 2020 8:33 pm

bkuehn1952 wrote:
Fri Feb 14, 2020 4:24 pm
Which raises the question, "Would you want to know the year you were going to die?" It certainly would make retirement planning a bit easier. It would be easy to decide whether to take Social Security at 62, full retirement age or wait until 70.
Unfortunately, some people do know (not thinking of anyone in particular), and it's usually not that far into the future and by that time the SS decision is moot and the body can't play golf either. So the whole premise sucks.

I'd rather not know: could be today, tomorrow or 30+ years from now. And I'll play as long as I can.
I'm gonna go low this time...

Post Reply

Who is online

Users browsing this forum: No registered users and 0 guests