Congrats - did the same about this time last year & worked my last full-time day at the end of February this year, just in time to ride out the COVID school shutdown as a retiree. I’m doing the semi-retired thing now as a part-time industry trainer/consultant thru the school.
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I always think of Dean Martin singing that song...
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Aaron, awesome on the retirement gig.
I've been trying since 2018 to retire but my employer keeps throwing better terms and conditions and $$$ my way to have me stay around. We were bought out by a Canadian company last month and their exit strategy for me is next May.
I was able to delay collecting SS to age 70 and if you can wait until then to get the maximum benefit.
I've been trying since 2018 to retire but my employer keeps throwing better terms and conditions and $$$ my way to have me stay around. We were bought out by a Canadian company last month and their exit strategy for me is next May.
I was able to delay collecting SS to age 70 and if you can wait until then to get the maximum benefit.
I would encourage everyone considering retirement to look into the expected life calculation sources. They will help you decide when your target date might be.
Example: If all four of your grandparents died early in life and your parents did too you might want to bail early and enjoy the few years you probably have left instead of continuing to work for a max benefit you’ll see little of.
Had a buddy croak at 64. He never drew a dime.
Not trying to be a buzz kill. Just pointing out there’s more to this decision than how much money you’ll get.
Example: If all four of your grandparents died early in life and your parents did too you might want to bail early and enjoy the few years you probably have left instead of continuing to work for a max benefit you’ll see little of.
Had a buddy croak at 64. He never drew a dime.
Not trying to be a buzz kill. Just pointing out there’s more to this decision than how much money you’ll get.
Funny! I owned a '77 Volare when I was stationed in Turkey back in '88. It was the only car for sale on base. It was again a year later when I left.
Had a buddy retire last January, turned 62 in February. He always told me he would draw his SS as soon as he could because the men in his family didn't live long. In May he was diagnosed with cancer and going through chemo ever since. So far he is doing OK.
You never know what the next day will bring.
You never know what the next day will bring.
I retired after 41 years with the State, gotta say the pension for life deal is great. Don't have to figure out how much to draw from a 401k vs. how long I may live.
We were lucky to have our house paid off before the wife and I both retired. Being debt free in retirement is a huge deal.
We were lucky to have our house paid off before the wife and I both retired. Being debt free in retirement is a huge deal.
That is how it's done,,,
Make a budget of what you have and stick to it.
I had never heard of Dave Ramsey until a friend told me,,,
That my budget plan was right out of his seminars.
This is what I did when I got the full-time position,,,
I kept the same beat-up mini van for another 7 years,,,
I stayed right there in that 10' by 12' efficiency apartment for another 3 years.
I put a lot of cash in the savings account before I finally decided to buy a home,,,
Even then I didn't go crazy, but went out in the country to buy something I could pay off before I retired.
My whole plan was to retire debt free,,,
I managed that except for that pesky student loan,,,
But it's a small payment and I can manage it easily enough.
I thought about taking early Social Security but didn't,,,
I did start taking benefits as soon as I reached the full amount age.
I've put every penny of it in savings for just over three years now,,,
That also beefed up the old savings account.
Well, that's not entirely true,,,
I did use the first three checks to buy good hearing aids,,,
But after that expense every dollar went straight to the savings account.
I live in a raggedy old Mobile in a very old small town,,,
But the home and property is paid off entirely,,,
Less than $300/year in property taxes,,,
I can afford that.
I'm certainly not going to be rich in my retirement,,,
But I have no landlord to raise my rent,,,
And I won't be eating cat food.
Thanks for your good wishes and thoughts my friends,,,
They are greatly appreciated.
Aarond
P.S. I do know that after I spend a few months manicuring my yard,,,
I'll probably try to find a part-time job in retail somewhere.
More to keep me from turning into a couch-slug than for the money,,,
That and my .22 single-shot rifles should keep me from getting too bored.
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