Retirement!
05-07-18, 01:21 PM
#26
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If only I could figure out if I can afford it. Plus, my wife points out that we've been working long enough that we have no debts and make reasonable money we might want to keep doing it while we can. The money is nice. But all this work stuff is getting mighty daily. Even though I like it.
Congrats to you. Do check on next year and tell us: Bored? Broke? Busy? What?
Congrats to you. Do check on next year and tell us: Bored? Broke? Busy? What?
Out at the cottage last year, a buddy pulled out his tape measure and explained “this is our life in years. My dad died here at 78, and I’m 58, so better than 2/3rds of my life is gone!” That’s a sobering way to look at it.
My wife and I always expected that her dad would pass away before mom. One day I get the call, mommy isn’t waking up....she had passed away a couple hours earlier in her sleep. You never know when you’re gonna get called. We are far from rich. House payment, new car payment and one in college. We go on 2-4 vacations a year. The money will come from somewhere- it always seems to. Retire while you’re alive and in at least reasonably good health. Just my 2cents.
05-07-18, 02:19 PM
#27
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My checklist:
1. House paid off:
2. Kid through college:
3. Health care for life:
nope,nope,nope
1. House paid off:
2. Kid through college:
3. Health care for life:
nope,nope,nope
05-07-18, 02:43 PM
#28
Senior Member
Waking up every morning, going for a bike ride and getting paid everyday for the rest of your life.
There is nothing like it!! Enjoy!!
There is nothing like it!! Enjoy!!
Last edited by Patriot1; 05-17-18 at 03:24 PM.
05-07-18, 07:39 PM
#29
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After working my butt off since 1964 I called it quits. Now the dusty bikes in the corner of my shed are seeing the light of day again. The fun of riding is back
05-07-18, 08:02 PM
#30
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Hoping the wind is at your SIX.
05-09-18, 07:50 PM
#31
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I retired in January this year. Its been really nice. I need to get out a bit more so I got a fun job that will get me off my rear, and I should still have time to put in 20 miles a day.
05-09-18, 08:52 PM
#32
The Left Coast, USA
Sorry, I don't get it. I am enjoying my encore career in academia, following a 35-year run in industry. I had tentatively planned to retire at age 70 (two years from this coming summer), but I may keep going beyond that. The saving grace is a much more flexible work schedule, including working from home most Tuesdays and Thursdays, and the fact that I now work "only" 40 hrs/wk., instead of 50 or 60.
The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.
One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.
One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
Me neither, I am a pensioner now but I work more than full-time, love what I do. Bu tI guess it's the old saying, 'choose a job you love and you'll never have to work a day in your life". I'll hang it up when the brain stops working correctly.
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There is more to life than simply increasing its speed. - Gandhi
There is more to life than simply increasing its speed. - Gandhi
05-10-18, 04:48 AM
#33
Senior Member
Congrats on the retirement! I am 3 weeks behind you Looking forward to a summer of hiking and biking with of course plenty of honey do's in the mix.
Looking forward to a summer of hiking and biking with of course plenty of honey do's in the mix.
05-11-18, 10:44 AM
#34
Member
Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
05-11-18, 05:40 PM
#35
Senior Member
Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
05-12-18, 05:44 AM
#36
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Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit
Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.
Best of luck in whatever decision you choose!
05-12-18, 06:31 AM
#37
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Sorry, I don't get it. I am enjoying my encore career in academia, following a 35-year run in industry. I had tentatively planned to retire at age 70 (two years from this coming summer), but I may keep going beyond that. The saving grace is a much more flexible work schedule, including working from home most Tuesdays and Thursdays, and the fact that I now work "only" 40 hrs/wk., instead of 50 or 60.
The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.
One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.
One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
Last edited by Cuyuna; 05-12-18 at 06:37 AM.
05-12-18, 08:58 AM
#38
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Retirement is great. I retired after 47 years at IBM. I was 70 at the time, and turn 80 this year. In warm weather I ride approx 25 miles every other day, I think it is what keeps me in good health.
05-12-18, 08:59 AM
#39
Farmer tan
05-12-18, 10:41 AM
#40
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Retirement!
Nicely written, @Cuyuna. I too am in a "learned profession." I posted earlier on this thread:
Since you mentioned that sense of professionalism, it’s a sticking point for me too. I spent several years in training, followed by decades of experience to get to my current level, but I’m sure decline is inevitable.
Also as you state, the profession is advancing (rapidly from the vantage of decades of practice) and while it is interesting and exciting, we are followed by newer colleagues who now take such advancements as routine.
We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).
yeah, that’s me too. I’m 67, really enjoy my job (surgeon), especially as it has evolved over the last decade. It doesn’t keep me off my bike, keep my wife and me from traveling, or doing many of the things I want to do. In fact, just the opposite. It affords me the financial independence that allows me to enjoy my hobbies and my life without the impediments of niggling little things like a budget.
I’m sure there are jobs that people just can’t wait to retire from. Fortunately for me, I don’t have one of those jobs. I do know people that love their retirement and certainly acknowledge that it’s a great thing for some people and some jobs.
Others, like me, would miss the sense of accomplishment, value, and service that a productive career affords. The concept of waking up in the morning at 8am and not knowing what day it is would just make me depressed.
I’m sure there are jobs that people just can’t wait to retire from. Fortunately for me, I don’t have one of those jobs. I do know people that love their retirement and certainly acknowledge that it’s a great thing for some people and some jobs.
Others, like me, would miss the sense of accomplishment, value, and service that a productive career affords. The concept of waking up in the morning at 8am and not knowing what day it is would just make me depressed.
I’m a few years away from retirement, but it is starting to loom large. Nice set of tips, @jppe, and my comiseration to those with health problems (IMO cycling can be an effective preventive maintainence).
I too like my rewarding job, psychically and financially, and I want to establish an inheiritance for the children, especially a disabled one. We have also recently bought a vacation / investment second home.
My cycling lifestyle is important to me and retirement vis-à-vis cycling poses a dilemma...
but,
I too like my rewarding job, psychically and financially, and I want to establish an inheiritance for the children, especially a disabled one. We have also recently bought a vacation / investment second home.
My cycling lifestyle is important to me and retirement vis-à-vis cycling poses a dilemma...
…I have previously posted to this thread, ”Why didn’t I ride”
Also as you state, the profession is advancing (rapidly from the vantage of decades of practice) and while it is interesting and exciting, we are followed by newer colleagues who now take such advancements as routine.
We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).
Last edited by Jim from Boston; 05-12-18 at 10:50 AM.
05-12-18, 10:55 AM
#41
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Retirement!Nicely written, @Cuyuna. I too am in a “learned profession.” I posted earlier on this thread:Since you mentioned that sense of professionalism, it’s a sticking point for me too. I spent several years in training, followed by decades of experience to get to my current level, but I’m sure decline is inevitable. Also as you state the profession is advancing (rapidly) and while it is interesting and exciting, we are followed by newer colleagues who now take such advancements as routine.
We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).
We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).
Last edited by Cuyuna; 05-12-18 at 11:00 AM.
05-12-18, 11:18 AM
#42
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My career has evolved to the point where, on a national level, I participate in those advances, create some of them, and am responsible for teaching and helping my newer colleagues to learn and use those professional advances. It's one of the more productive and enjoyable aspects of what I do. Doing what I do at the level that I do it...you don't get to fool people for very long. Ongoing peer evaluation, public evaluation, and self-evaluation are such an integral part of my profession that there will be no shortage of avenues making it clear that I'm no longer up to the job when that time comes, as it no doubt will some day. But not today, likely not tomorrow.
I too want to practice for a while, and that's a drawback to retirement. I'm glad it's not mandatory for me, at least not by age, but younger colleagues are retiring, not too few with relief .
Last edited by Jim from Boston; 05-12-18 at 12:52 PM. Reason: added my quote
05-13-18, 08:43 AM
#43
Member
The whole process of determining when to "pull the trigger" on retiring can get complicated, especially, if we don't have a good defined-benefit pension plan and we don't have paid retiree health benefits. I'm also in that place ... my spouse is about 3 1/2 years younger and has been on my benefit plan for health coverage. I'll be 65 soon but am still working. I won't have paid health insurance when I retire so that definitely is a big factor assessing expenses in retirement. Fortunately, my job is fairly low-pressure and I'm able to work at home so working a bit longer isn't an issue from a stress or work-life balance prospective.
Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit
Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.
Best of luck in whatever decision you choose!
Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit
Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.
Best of luck in whatever decision you choose!
Thank you for your thoughtful response. I likely will stay with our company' s group medical. I think staying with the company's group plan and going to a higher deductible will protect my family from the ACA's unpredictability and preserve our insurability.
05-16-18, 12:01 PM
#44
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The whole process of determining when to "pull the trigger" on retiring can get complicated, especially, if we don't have a good defined-benefit pension plan and we don't have paid retiree health benefits. I'm also in that place ... my spouse is about 3 1/2 years younger and has been on my benefit plan for health coverage. I'll be 65 soon but am still working. I won't have paid health insurance when I retire so that definitely is a big factor assessing expenses in retirement. Fortunately, my job is fairly low-pressure and I'm able to work at home so working a bit longer isn't an issue from a stress or work-life balance prospective.
Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit
Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.
Best of luck in whatever decision you choose!
Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit
Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.
Best of luck in whatever decision you choose!
FWIW, I went on Medicare at age 65 and my portion of Parts A&B is $134 a month. I got that coverage through United Healthcare and prescriptions are no cost to me. Plus they provide some over the counter medicines at no charge. I needed a private policy for my wife and had choices of going to the market or taking my former company's retiree coverage for spouses. I was unable to qualify for Marketplace coverage so we opted for my company's coverage which was still very expensive. However my physician suggested we look at this option (see link) which technically isn't insurance but does appear to provide coverage for "major healthcare expenses". Medishare acts similarly. These plans may not be for everyone but some might feel comfortable going in that direction.
Christian Healthcare Ministries: Home
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05-16-18, 02:40 PM
#45
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Medical insurance was my biggest unknown but now it seems to have been resolved for us.
FWIW, I went on Medicare at age 65 and my portion of Parts A&B is $134 a month. I got that coverage through United Healthcare and prescriptions are no cost to me. Plus they provide some over the counter medicines at no charge. I needed a private policy for my wife and had choices of going to the market or taking my former company's retiree coverage for spouses. I was unable to qualify for Marketplace coverage so we opted for my company's coverage which was still very expensive. However my physician suggested we look at this option (see link) which technically isn't insurance but does appear to provide coverage for "major healthcare expenses". Medishare acts similarly. These plans may not be for everyone but some might feel comfortable going in that direction.
Christian Healthcare Ministries: Home
FWIW, I went on Medicare at age 65 and my portion of Parts A&B is $134 a month. I got that coverage through United Healthcare and prescriptions are no cost to me. Plus they provide some over the counter medicines at no charge. I needed a private policy for my wife and had choices of going to the market or taking my former company's retiree coverage for spouses. I was unable to qualify for Marketplace coverage so we opted for my company's coverage which was still very expensive. However my physician suggested we look at this option (see link) which technically isn't insurance but does appear to provide coverage for "major healthcare expenses". Medishare acts similarly. These plans may not be for everyone but some might feel comfortable going in that direction.
Christian Healthcare Ministries: Home
05-16-18, 02:59 PM
#46
It's MY mountain
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As for the OP - he probably couldn't get coverage for his wife with such a plan because of her pre-existing cancer condition.
