Early Retiree RVers?

[okcnewbie]

Originally Posted by Coral

..... No kids or grand kids not a lot to talk about with people that have them and that's all they talk about.

Sorry, can't help it. I do try to be sensitive to others though. Good or bad if it's not "stuff" that makes us happy it must be "family".

[Coral]

Originally Posted by Stripe34

Haha I should have recognized you from FB, Terry :-). We are friends on there - my DH & I were officially from there until we sold the house this spring. We will pass through for CCF Dr appts in late April & late Oct, probably staying at Findley SP in Wellington.

Our Coach comes out of storage in April 1st and we have an appointment at Spartan in Charlotte, MI to get our going off warranty inspection. Let see if we can coordinate a visit in April some time. Please shoot me a PM on FB.

Peace,

Terry

[russue125]

Originally Posted by Mr_D

Well, I retired at 51, but went back to work till the DW could retire. I'm now almost 71 and finally retired fully in 2016. Unfortunately the late DW died in Aug 2016 without ever getting to enjoy what she worked all her life for.

Same thing happen to my husband. He was retired while I was still working..I stopped working after he was diagnosed with a rare fatal disease. We got to take two trips in the RV before he passed. If you can, retire early and do your bucket list.

[Jthigh]

I know this is an old thread but I thought I would go ahead and add our names to the list. We are very blessed and fortunate to retire in our early 50's. We still have a home base near Charlotte NC but have gone on trips for months at a time. It's nice to have a place to come back to to perform all my annual PMs.

We are a host on boondockers welcome so if you are in the area we would love to have you stay.

John and Lisa

[milkman55]

We retired at 61 this past Spring and purchased an RV in May. Don’t plan to full time, but do plan to take a number of long trips. So far we have been doing pretty much all international travel while we are still pretty mobile. Just got back from a month in he South Pacific and headed to South America in January to cruise around Cape Horn. Planning several RV trips for the Spring.

We live in a south Texas Hill Country full time, so we have Winter Texans all round us this time of year.

[photopilot]

Bonnie retired a year and a half ago, and I retired in July at 63. As many say on here, no one says on their deathbed that they'd wished they had worked longer. We're doing our first snowbird trip from Jan through April, then Yellowstone in August with our grown kids. We're also a boondockers welcome site, so c'mon up (when it's warm!).

Walt

[rvingchub]

I retired in 2018 at age 60. My wife and I are ready to go

[rvingchub]

I retired at the end of August 2018. I'm 60. I had worked for my company for 40 years. I figured it was time to do what I want to do.

[Rob_M]

At 63 almost 64 weighing the pros and cons of retiring early. Will probably have to do something part time to supplement my SS pay. Wife hasn’t worked since having our second child in ‘98 and was ill advised about working longer not helping her (our) SS benefits. Can y’all point to other threads about early retirement on here? I don’t fully understand the penalty for earning money after retiring before full retirement age which I believe is 66 and 7 months for myself. Wife is almost 60.

[jacwjames]

Here is a thread I had started when I was asking about SS and taxes, it turned into a wealth of information. https://www.irv2.com/forums/f64/taxe...ed-475637.html


Once you open the thread at the bottom it will list similar threads.



You can also go to https://www.ssa.gov/
Lots of good info there, just have to navigate site to find it.


If you collect SS early you loose ~8% a year, so if you retire that early you loose 24%.

If you work after signing up for SS the there is a limit as to how much you can make before they start taxing you $1 to $1 that you makes. This is until you reach full retirement age.



I actually retired at 54 and started collecting SS at 62. Hind site 20-20 I now wish I had waited but it is what it is. My wire just turned 60 and she says she wants to start drawing SS at 62 but told her to hold off, not sure what she will do. Either way she will be able to use the spousal benefit which is half of my SS amount. If she collects early she will loose 8% a year.



A head hunter contacted me last year about a good job so I call the local SS office to find out my options. I missed the 1 year grace period to stop SS and pay back whatever benefits I had collected. I did have the option of suspending SS, so at least I wouldn't be taxed on earnings but the way I understood it I would have still had to pay the standard FICA on earnings but not get any benefits down the road. It was a mute point as I didn't get the job but eye opening.



I have now joined the medicare ranks, which is a whole other story.

[Winemaker2]

"My wire just turned 60 and she says she wants to start drawing SS at 62 but told her to hold off, not sure what she will do. Either way she will be able to use the spousal benefit which is half of my SS amount. If she collects early she will loose 8% a year. "

Many people believe that 50% of spouses SS is an absolute and that is not how it actually works.
Your spouse gets her benefit first and an "adder" equal to the difference between her benefit and half of yours.
If both wait until full retirement age the affect is equal to 50% of the spouses benefit. If she takes hers early her share is permanently reduced so when combined with the adder it is less than 50% of spouses benefit.
If both take it early both portions will be permanently reduced.
Been there and know from actual experience. We tried to get a straight answer prior to making a decision and it was extremely difficult to get clear info from SSA. Even when we met with SS rep in person we were initially given bad info. When I presented the above understanding and the rep checked with supervisors were we informed of the permanent reductions.

Sent from my SM-T878U using iRV2 - RV Forum mobile app

[ArtJoyce]

that is what we did. I retired before age 60 and Joyce a few years later. We both started collection retirement and SS at age 62.

So it going to depend how prepared you are with savings and investments. How much debt you have. If you have other pensions and how your life time employment SS earnings were and what your entitled to.

[DR60]

Originally Posted by Winemaker2

"My wire just turned 60 and she says she wants to start drawing SS at 62 but told her to hold off, not sure what she will do. Either way she will be able to use the spousal benefit which is half of my SS amount. If she collects early she will loose 8% a year. "

Many people believe that 50% of spouses SS is an absolute and that is not how it actually works.
Your spouse gets her benefit first and an "adder" equal to the difference between her benefit and half of yours.
If both wait until full retirement age the affect is equal to 50% of the spouses benefit. If she takes hers early her share is permanently reduced so when combined with the adder it is less than 50% of spouses benefit.
If both take it early both portions will be permanently reduced.
Been there and know from actual experience. We tried to get a straight answer prior to making a decision and it was extremely difficult to get clear info from SSA. Even when we met with SS rep in person we were initially given bad info. When I presented the above understanding and the rep checked with supervisors were we informed of the permanent reductions.

Sent from my SM-T878U using iRV2 - RV Forum mobile app

I took early retirement at 59 years old. I started collecting SS at 62.
The math for me worked out that by taking the lesser amount for those 5 years, I will be money ahead until age 87.
With my health issues it is not much of a gambol that I will not live longer than that.
Till then we are enjoying what we have! DR

[spuds]

For the Social Security claiming questions, Mike Piper, CPA (aka "Oblivious Investor") has a great tool for figuring out the optimal claiming strategy and looking at alternative ages. If you select "married" it will let you fill in your spouse's info as well. Be sure to scroll down to look at the resulting heat map/graph that lets you look at the alternative age results

OpenSocialSecurity Tool