With Retirement getting closer, I look at the world differently

The best advice I heard when contemplating retirement was this, “Don’t retire because you want to stop doing something, retire because there is something else you want to do more.” That statement kept me on the job for several years, until I found a part time position doing something I love that allows enough free time to enjoy life.
 
I retired at age 61 and that was 13 years ago---we live on soc sec(only I had income since my wife was housewife) and a small amt of pension that runs out in two years---the trick is to be debt free and house and autos all paid for---you also have to have no desire to get back in debt---having all my hobbies pay for themselves or save me money is beneficial-----I have lots of extra assets to sell if needed and I am always looking for the good old iron bargains---medicare is our only insurance----I love working in my shops and am happy I have collected enough supplies to last more than my lifetime--when I am gone there will be a huge auction all of you would only dream of attending---you name it I have it!!!---anyway retirement is very enjoyable so don't put it off too long-----very happy Dave
 
The second smartest thing I ever did (after marrying my wife...) was stay in the Navy for the retirement. The pension check is obviously helpful, but what's less obvious is the health coverage. I retired permanently at 62 six years ago and my retired military health plan covered me until Medicare kicked in and even now eliminates the need for supplemental insurance.

From time to time I briefly consider going back to work part time, but a couple of aspirin and a nap usually cure that aberrant mental pattern.
 
I look at the world differently too- more projects than ever to do and even less time to do them!
mark
 
The second smartest thing I ever did (after marrying my wife...) was stay in the Navy for the retirement. The pension check is obviously helpful, but what's less obvious is the health coverage. I retired permanently at 62 six years ago and my retired military health plan covered me until Medicare kicked in and even now eliminates the need for supplemental insurance.

From time to time I briefly consider going back to work part time, but a couple of aspirin and a nap usually cure that aberrant mental pattern.

My brother spent over 10 years in the Navy then went into the Postal Service. He has good benefits compared to me.
He goes to the VA for his Doctor and meds. , dang near free.
 
I retired about a year and a half ago at 62. I still live comfortably with a nice pension, S.S. and good health insurance, but its not near my level of income when I was still working of course. Buy all of your toys while your still working and make sure you have everything paid off, mortgages, cars, etc., before you retire. I started planning for my retirement about 3 years prior to actually retiring. Its been a seamless transition and I've never looked back. Its like being a teenager all over again...without the parents looking over your shoulder. :cool:
 
I'm 55. What I want to do is cash out my 401K to pay off everything, build & outfit my shop. Then get right back into a 401K for 50% of my income. Need to get all the numbers together & find a CPA as I really don't want to pay the taxman. I can handle 10 years of stacking up money.
 
I retired about a year and a half ago at 62. I still live comfortably with a nice pension, S.S. and good health insurance, but its not near my level of income when I was still working of course. Buy all of your toys while your still working and make sure you have everything paid off, mortgages, cars, etc., before you retire. I started planning for my retirement about 3 years prior to actually retiring. Its been a seamless transition and I've never looked back. Its like being a teenager all over again...without the parents looking over your shoulder. :cool:

Mr. tony, planning for retirement 3 years before is unusual in my humble opinion.
Based on your statement, “I still live comfortably with a nice pension, S.S. And good health insurance “. You are fortunate and I bow to your good fortune.
My wife and I have been planning and investing for decades.
I agree with you, “buy all of your toys while your still working and pay off, mortgages, cars, etc”.
That is our goal and we are very close.
Thank you for your advice, buy toys now, I need a surface grinder soon. My wife would argue but, I will remind her, we need to acquire while I am working.
We have decided to stay here for a while. I plan on insulating the garage/shop soon. She can still park in the garage but that may need to change .
 
I retired 8 years ago debt free, nice house etc etc.
Good pension that wont last forever but what the hell.
No medical insurance but thats not a problem in Oz.
I was fit and healthy when I retired, cycled every day etc.
BUT, something to seriously think about.
How mobile will you be and for how long.
We live in a high set house (2 story) and in the last 12 months my knee and hip have deteriorated very fast and I find it painful climbing stairs with shopping bags.
This was something that never crossed my mind that would set in so suddenly.
we should have moved to a low set house before this happened.
 
Mr. tony, planning for retirement 3 years before is unusual in my humble opinion.
Based on your statement, “I still live comfortably with a nice pension, S.S. And good health insurance “. You are fortunate and I bow to your good fortune.
My wife and I have been planning and investing for decades.
I agree with you, “buy all of your toys while your still working and pay off, mortgages, cars, etc”.
That is our goal and we are very close.
Thank you for your advice, buy toys now, I need a surface grinder soon. My wife would argue but, I will remind her, we need to acquire while I am working.
We have decided to stay here for a while. I plan on insulating the garage/shop soon. She can still park in the garage but that may need to change .
I've always tried to have a plan for everything....doesn't always work out mind you, sometimes you need to go to plan B or Plan C. My thoughts early on were that I wanted to retire seamlessly. I didn't want to wait for retirement and then try to decide what I wanted to do with the rest of my life. With a little thought I zeroed in on knife making as I'd been a collector for many years. That led to also doing leatherwork in order to make sheaths for the knives that I'd made. I find that between the two, there is more than enough to keep my mind and body active. There's a lot of technology involved in making knives. I buy barstock and go from there as I have no interest in forging. So everything from shaping and grinding to heat treatment to handle materials is on the table...and then the leather work. My point is, if you want to go into retirement with a goal of operating a serious hobby which can turn into a potential business, one needs to plan to make it go as smoothly as possible. In my case, it may not go anywhere at all, but that's ok too as long as I've got something that I enjoy doing. I was able to step out of my role as an electronics professor and into a role as Mr. Tony, the knife maker on day one of retirement. And yes, I do feel blessed for have had the ability to do so.
 
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