Can we talk about retirement?

Aukai said:
It was traumatizing for me to stay at work. That door had no chance of hitting me in the ass on the way out :)
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I thought you were still riding ambulances?
 
I went back for non emergency medical transport, retired from 911, that is all done:)
 
Now being retired 7 months , talking with friends and family I listen to how some through no fault of their own they will be waiting until late sixties to retire , others have spent instead of saving and those too will be waiting. I feel very fortunate that I worked for a company that talked about retirement , saving . Those early meetings that had representatives from the credit union come in showing how you start saving a little bit it compounds through the years . Then when they offered the 401k they had more information and meetings . Retirement isn’t what you think of when your in your twenties or thirties unless your told . My own brother is going to retire this December at 70 1/2 , he told me he never thought about retirement until a few years ago . Ive talked with my kids and their spouses about saving and the difference when you start early . Most here in the USA won’t have defined pension plans so it makes saving in more important
 
As you talk about anf plan for retirement, be sure to talk to your kids. Most of us have kids who are in their 30s. Now is the time they should be investing for THEIR retirement.
 
Janderso said:
In a few months I'll be 64. I just looked at my Social Security statement.
They have full retirement at 66 and 6 months.
There is a benefits slide gadget that lets you dial in the anticipated month of retirement.
Example, if I retire at 65 and 6 months, the difference is <$245 a month. If I retire a year early, I will receive $31,500 I would not have received if I wait another year.
You all know where I'm going. It would take 11 years to break even for the amount I received for the one year of early retirement.
Since this is supplemental to our overall retirement plan, it's looking pretty tempting.

Did you go out early? Do you regret it?
Do you wish you went out early?
Are you thinking along my same lines?
Am I an idiot for thinking to go out early

I know many of you are retired, I'd like to talk about it.
Thanks,
Jeff
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Retire as early as possible. You never know when you are gonna kick it. Most people don't even come close to living out their planned retirement lives. No wife, no kids, I'm retiring before 50 whether I can afford it or not! You took risks your whole life why not at the end?
 
jimbo fury said:
Retire as early as possible. You never know when you are gonna kick it. Most people don't even come close to living out their planned retirement lives. No wife, no kids, I'm retiring before 50 whether I can afford it or not! You took risks your whole life why not at the end?
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Well, if you can't afford it you won't be "retiring".
 
I retired at 72, after 21 years with the same company, I knew there was a company sponsored "profit-sharing" plan, but I had no idea what my share would be. I would be getting a monthy from Social Security, Figured with the house paid for we could get by. Profit Sharing turned out to be just under a quarter Mil. 2008 took out almost 200,000, but its over 300,000 now and growing about 5 grand a month. My wife of 59 years, 8 months fell to Cancer in Feb, 2020. Soon's Covid's over I'm going to travel.
 
Tom,
Sorry about your wife, after close to 60 years together, must hurt like H.
 
I've been self employed my entire life. So no company bennies, 401 etc. I started a Schwab account in 2007. The crash of 2008 was the best thing ever. I had some cash and went all in. Easiest $ I've ever made. No one losses $ when the market crashes as long as you don't sell. Look at the crashes as equities going on sale. I wish I had started a brokerage account much sooner. Compounding is way better than most people think. Last March was another crash. I couldn't figure out who was going to be a winner and who a looser so I bought $35K of ETFs. in just over a year they have gone up 65%. Lucky. It is best to not try and time the markets. Being a consistent investor will net you about 10% compounded. Start young! Watch out for management fees, they greatly reduce your returns. A Schwab account is free, there are no buying or selling fees, they provide good book keeping, all available on line. NO, I don't get a commission, damn.

I ran my own business all my life, I'll run my retirement what remains of my life.
 
T Bredehoft said:
I retired at 72, after 21 years with the same company, I knew there was a company sponsored "profit-sharing" plan, but I had no idea what my share would be. I would be getting a monthy from Social Security, Figured with the house paid for we could get by. Profit Sharing turned out to be just under a quarter Mil. 2008 took out almost 200,000, but its over 300,000 now and growing about 5 grand a month. My wife of 59 years, 8 months fell to Cancer in Feb, 2020. Soon's Covid's over I'm going to travel.
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Very sorry to hear that you lost your wife. My wife's health is not the best. I am thankful every day that she is still with me. I know that each day is a blessing that I should cherish every day that we have. But we really never know. Who is to say which one of us will go first.
 
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