When to hang it up

[steve corn]

I will be 62 in December. I am retiring December 16th. I wasn't sure of when I would retire until this year. The plant I work for was ran like a small time business until this year ,then it started being more corporate ran and that has pushed me over the edge. Luckily I have been putting 30% in my 401K for 14 years or so. That is the only reason I can afford it. I don't worry about being bored because I have way too many hobbies. I love and plan to hunt, fish, play golf and ride my motorcycle a lot more than I have time for now.

[hpdrifter]

It was the constant BS. Had to fill out a form to breath. A meeting for this, a meeting for that. Then they wonder why no work got done. Was at a place that had 40 years of competition between departments and shifts within that department that destroyed team work. A new mindset came over the company when Koch bought them out but the old guard still played defense. No team work. One shift would absolutely try to screw the next.
With all that said, they treated me as well as could be expected. I moved thru the ranks and got to my Peter Principal Job.
I took retirement as soon as reasonable possible, about 6 months before actual eligible date.

[Chew]

I'm at max capacity of BS. Trying to make it to Jan 2023 but can leave now if I want.

[RMW]

Hopefully in 10 years, not really retire but let the boys take over the business and I’ll still draw a nice check. Hopefully around 55

[hammer63]

Good Lord willing, December 2022 is my checkout date. I'll be 59 1/2. My job sucks green ones any more but I'm too old to do anything else so I just grin and bear it...15 more months....

[DRT]

I was a the point of 80 and was eligible but was on the fence. I enjoyed being a public service employee and serving the community in a critical needs area. Financially I could have gained a little by staying longer. However the culture of the employees as well as the changes in approach by management was very clear they were looking to younger employees as the future. They created positions and filled them without even offering to the senior employees the opportunity to apply and interview. They straight up told us that they would be removing certain aspects of our job description and adjusting our duties and authority. When I got chastised for finding a discrepancy where a contractor had screwed the city out of almost a million dollars I decided to go. Some people lost their jobs or were demoted over it (friends of the manager who ripped me one) and a couple of others were moved into other areas. Even though I was just following through on finding out the cause of an issue somehow the assistant director of the department was pretty sore about it.
It was the best thing that happened to me in the last six years of my service. I've enjoyed owning my own business the last few years and don't miss the stuff my still working friends are struggling through with the new culture.
Nine months after I retired I had a mild heart attack and on the way to the hospital I thought if I hadn't retired I'd have been in my office printing out work orders for my crews for the day hoping I had enough people to get it done so I didn't have to work til 9 that night to make up the difference.
I say if you can afford it, have a plan, can move forward, go on and do it.

[Anvilheadtexas]

I am going to do it a bit differently, but my career enables me to do that (work for myself). Going to take another hiatus next year and hike the Pacific Crest Trail (Mexico to Canada) then come back and approach my work in a more select manner. This should fill in the gaps between adventures. Don’t wait until you are too old to do the big/physical things on your bucket list fellas!!!

[JMart76]

Retire at either 51ish or 57 for me. Depending on my current work situation, if I can stick it out and make 20 active military years then at 51 I’ll retire. If not then I’ll have to wait till 57 when my civil service retirement kicks in. Either way I’m counting down time, about to be 45, so I’m hoping for 51.

[Hogmauler]

I retired at 63 when we moved to Colorado. We’re back in Texas now. I take care of our special needs son and will tell you I miss going to work. Nothing against our son. I love him dearly, sometimes I just need some adult conversation.
I just dropped my supplement part B. I got a print out from them and all they had covered was one set of knee injections. My primary insurance (on my wife’s) covered everything else. So I took that $1,400.00 and used that to help my wife pay for my coverage. I did have to send social security a letter stating that I’m canceling my part b not part a.
Personally I think Joe biteme will wreck Medicare as well. Sooner or later it has to crash given that thy will be placing millions of more people on it counting the southern border and the afghans they are importing in.
If I could I would go back to work. I’ve never liked being on the government dole despite having worked for the past 45 or 50 years.

[flywise]

I get paid well for a guy with only a HS education so unless i get sick or something ill keep working until I am 62 in 10 years

[buckfan50]

Retiring

Worked in the same industry for over 35 years. The last 17 years with a great company. They closed the factory in May of 2019. Very fortunate in we got a huge severance pay when they closed. I was at their retirement age for receiving a pension from them. From that pension we have our medical insurance through the company and still receive a small amount of money monthly. We took the severance pay and paid off every single credit card/ loans that we had. House had already been paid off two years earlier. I turned a hobby of mine (hydrographics) into a full time business the month after the factory closed. I'm turning 62 in October already filed for social security benefits and will start receiving those this December. I had put away money into a 401K plan for years. No where near rich but between what we have saved, SS and pension we can live our lifestyle comfortably. At 62 you can still make $18960 a year and it won't effect your social security payments if you choose to continue making income. It's amazing what you can live on when you don't have any extra credit and loan debt and just the normal household bills. My business has slowed a lot. Started taking monthly payments from my IRA a few months back so I'm pretty much already retired just waiting on the SS checks to start coming in! Looking forward to it.

[SJP51]

For you guys that are retired, what was it that lead to your decision? Was it years of service, your age or a number goal in your nest egg or health?
Just turned 62 and will have 30 years next January if I can keep my mouth under control.!!! Along with 10 former years in the oil patch. Total of 40.
For me, biggest issue is affordable insurance leaving early.


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Like you, I am 62 years old with 39 years on the job. Two things keeping me on the job.

Insurance is one. My wife is 3-years younger than me, and if I retire I'd be buy two insurances for 3 year and then hers for several years after that before we both qualified for Medicare. Freaking insurance is expensive.

The other are my Mom and in-laws. All are ~90 years old. One is in hospice, one with dimentia and in a home, the other doing well but old. I don't know what expenses I may need to pay in the next few years, so having a good income seems like a good a idea.

But for these I'd be fishing somewhere.

[jmac24]

Just looked and I posted on this thread exactly one year ago today. Here I sit in the same place and same job, but it isn't getting any easier. Got one son out of college and off my payroll, one more to go. Added a place in Brenham and by this time next year we should be living there full time. Still looking to retire at 58, maybe sooner if the Demorat BS keeps it up!

[Txfire409]

I'm 52 with 25 years on the job as a firefighter. I could go now and believe me I'm ready too mentally, but with the way our pension is set up it behooves me to stay five more years until I'm 57. I wont stay past that.

[gingib]

If you can't retire because if insurance, your not financially ready to retire anyways!!!!