Who on here is retired?

[Paul McWhiskey]

Retired at 63. Plan was to get out at 62. Still don't know why I stayed the extra year. No regrets. Life is far better doing whatever I want. My wife retired a year ago (because she wanted to continue to work after I quit) and we laugh just about all day every day. My advice to younger folks is "Eliminate all of your debt and don't work one day longer that you need to".

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[Wingnutzz]

Yes, retired.
1. Retired from primary full-time job at 53 with reduction in retirement. Traveled all over the country and near home in Colorado on motorcycles.
2. After a year mixed in some lucrative part-time work (about 1 week/month) which did not interfere with my travels, plus provided great additional income for toys and play!
3. After about 6 years of #2 retired from all work that pays and became very involved in volunteer work giving back to my community. Rotary (member and eventually president of local club), American Legion youth and community programs at local and state levels (also various officer positions), city committees/council/mayor (all volunteer), and a few other organizations, while continuing by motorcycle trips and other travel. Very rewarding!!!
4. Age and a few medical things caught up with me (all the fun and crazy things eventually catch up with most of us, and it did for me) so I eventually ended very active and leadership roles in most activities.
5. Now 73. Sold motorcycle in June (health) and got my Mustang. Still traveling and enjoying life, just slower and not kicking as high.

I was always dedicated in my career work, and was just as engaged in my volunteer work. Very, very busy, plus the usual around home work and activities.

BOTTOM LINE: Life was and is good, and I’ve been a very fortunate person with great family and friends!!!

 

[Cobra Jet]

A lot of really interesting, up front replies - thanks!

For those who did initially retire, but did go back to part-time or even full-time work, do the retirement benefits received from the initial job "stop" - like do you have to report that you're working again, or does that not even matter? Meaning, taking retirement $$ and also bringing in additional $$ from X-source - conflict or no?

I'm not close to being in any of your shoes as far as being able to retire - but was really wondering and wanting to get a genuine perspective from genuine folks who are up front and honest about retirement. I find it interesting too that the retirement spectrum or age bracket varies quite a bit - but l also understand that being able to retire is based on many variables as well.

I think to myself that I may get bored - as I always have to be doing something and when my time comes to retire, that my day to day will change drastically where I may not enjoy that "time off". I don't know if that makes any sense to some reading this paragraph, as many do look forward to retiring. ?...

Do keep the comments coming because I'm sure the subject matter really gives insight to those wondering the same thoughts or questions.

 

[compprep]

For those who did initially retire, but did go back to part-time or even full-time work, do the retirement benefits received from the initial job "stop" - like do you have to report that you're working again, or does that not even matter? Meaning, taking retirement $$ and also bringing in additional $$ from X-source - conflict or no?

Only issue I know of would be age you started collecting SS. If early like I did, (62) you can still work but MUST pay back $1 for every $2 earned over about $17.5K per yr. That amount changes every yr. Or if you don't collect SS till your FULL age, my case 66yr and 10months, you can make whatever want. I worked with someone who was full time working till his full retirement age. Then collected a good SS, and still work full time with no fed tax penalty. Once I hit 66 and 10, I could make $100K without the fed tax penalty.

 

[Balr14]

One thing that has not been mentioned is if you work after 65 (or whatever your full retirement age is) SS is still deducted from your earnings, even if you are collecting SS. I would have thought all that extra I paid into SS after I started collecting at 65 would have raised what I got back, but it didn't.

Another thing, you also have to pay for Medicare unless you get health insurance through your employer.

 

[JimC]

One thing that has not been mentioned is if you work after 65 (or whatever your full retirement age is) SS is still deducted from your earnings, even if you are collecting SS. I would have thought all that extra I paid into SS after I started collecting at 65 would have raised what I got back, but it didn't.

Another thing, you also have to pay for Medicare unless you get health insurance through your employer.

But SS adjusts each year for the extra earnings. I usually get one extra check for "underpayment" each year.

 

[Rapid Red]

One thing that has not been mentioned is if you work after 65 (or whatever your full retirement age is) SS is still deducted from your earnings, even if you are collecting SS. I would have thought all that extra I paid into SS after I started collecting at 65 would have raised what I got back, but it didn't.

Another thing, you also have to pay for Medicare unless you get health insurance through your employer.

,

SS payments are calculated by adding up the best 8 years of earnings. Using the work history and how the monthly payout is determined.

I say this work until you're forced to take SS. That will be worth 1K extra each month.

 

[sk47]

Hello; retired in 2005.

 

[Bobn57]

At 65 I'm eligible but haven't pulled the plug yet....started working part time jobs around 9 years old and been full time in engineering field since 1978. This is my 44th year! Blessed to make it that long. Goal is to work until 70 if I can last that long. Somebody needs to pay for my toys!

 

[Justpassingas]

At 65 I'm eligible but haven't pulled the plug yet....started working part time jobs around 9 years old and been full time in engineering field since 1978. This is my 44th year! Blessed to make it that long. Goal is to work until 70 if I can last that long. Somebody needs to pay for my toys!

One of the main reasons I retired early was because too many friends/relatives are dying. I lost my 67 YO brother last year to dementia...His illness forced him to retire early, and he never had the chance to enjoy retirement. Just don't be the richest guy in cemetery is my philosophy.

 

[Bobn57]

One of the main reasons I retired early was because too many friends/relatives are dying. I lost my 67 YO brother last year to dementia...His illness forced him to retire early, and he never had the chance to enjoy retirement. Just don't be the richest guy in cemetery is my philosophy.

I hear ya...my 75 yo brother passed in 2020. I tell people I'm semi retired not a lot of stress in my current position.

 

[LxMike]

I retired when I was 58 1/2.. House had been paid off and all I had was utility bills and insurance to pay. I wanted to retire and enjoy what time I had left while I was able to do things. So I retired, sold the house to my brother for a price that we both could live with and moved from florida to Tennessee! I live in small home in my nieces back yard. It's paid for and I treated myself to the mustang I have now. Before I was just going between work and home. Now I get to see my nieces kids growing up, going to graduations, birthday parties. I live near the smoky mountains so I have plenty to see and some nice rides close by.

 

[key01]

Retired a year ago from my architectural practice in Chicago. Kids are gone so sold the big house and bought a 120 year old Victorian in a great small town where we walk to everything. Lost my second brother in July and only 1 brother left. We are headed to Colorado to ski tomorrow. The business climate changed so much after 911 and the Great Recession that architecture became a commodity. In any event, I had a great career and put everything I had into it, but simply burned out. I don’t miss it at all. It would be a great business if we didn’t have clients. Lol
Plenty to do in retirement so no worries there.

 

[kwpony]

I retired in February 2020. Exactaly when the pandamic hit. It's been a mixed bag. Great being retired however, life always has suprises in store for you.

 

[Johnnybee]

One of the main reasons I retired early was because too many friends/relatives are dying. I lost my 67 YO brother last year to dementia...His illness forced him to retire early, and he never had the chance to enjoy retirement. Just don't be the richest guy in cemetery is my philosophy.

My thought as well. My dad developed dementia in his late 70s, with cancer taking him a month short of 80, and my eldest brother, now 74, has been living with Parkinson’s for about 5 years. I wanted to make sure that I got at least 15 good years behind me before I’m potentially sidelined, or gone.

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