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Old 07-22-2014, 12:43 PM   #43
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I retired at age 53 and have never looked back so this is my advice, financial issues aside. When you get up tomorrow to go to work, ask yourself this question - "Is there something else I'd really rather be doing today?"
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Old 07-22-2014, 02:07 PM   #44
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I retired at age 53 and have never looked back so this is my advice, financial issues aside. When you get up tomorrow to go to work, ask yourself this question - "Is there something else I'd really rather be doing today?"
Excellent advice.

When I was struggling with the decision to sell my business or not, my mom asked me: "Is there anything else you would rather be doing?"

Wise advice.

I sold it.
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Old 07-25-2014, 02:18 PM   #45
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I too am planning on going early...... under 2 more years. Just working to get as debt-free as possible (almost there).

By then I'll have 40 yrs with this company and it's time to go. Not happy in my job anymore and all the BS that goes with it. I am soooooooooo ready!

Hello empty nest, your situation is word for word the same as mine. Today, we just had a change in management at the top level where I work and I’m wondering what effect it will have upon my department.

Like they say, [Moderator Edit] rolls downhill”.

My retirement decision may becoming soon!
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Old 07-26-2014, 09:14 AM   #46
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I would like to retire at 62 but if I do so, how do I handle medical insurance until Medicare kicks in at 65. It could be expensive, but how expensive per month?
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Old 07-26-2014, 09:33 AM   #47
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Wow ... just found this thread. Seems lots of us are in the same boat. DH is 63 and I'm 59. We both work at the same company - the company was bought last September - the corporate thinking is not what we built our reputation on. The business has changed. Time to go ... a little scary - we are now selling our house in Alabama (where our office is) and will live in our motorhome during the week while working. We go to our retirement home in New Orleans every weekend anyway. We are staying until we get our bonus in Feb. 2015. Then ... it is time to really enjoy our MH and make New Orleans our official S&B home.

Again, scary to be without a substantial income for the first time in our lives - but I can always say "welcome to Walmart" if needed! Actually, I'm a licensed tour guide in NOLA - so that could add enough for food monthly if need be!

Plan on doing a 3 month trip out west - Grand Canyon, Tetons, etc. next spring/summer. Very excited about the opportunity to see the country more than 2 weeks at a time for the first time since I graduated from college!
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Old 07-26-2014, 09:34 AM   #48
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Retirement advice!

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Originally Posted by cucotx View Post
I would like to retire at 62 but if I do so, how do I handle medical insurance until Medicare kicks in at 65. It could be expensive, but how expensive per month?

It depends.....

1) Does your (or your wife's) employer offer retiree medical coverage as a benifit?

2) Are you eligible for military benefits?

3) Were you working in a union job?

4) Did your state chose to participate in the medical insurance exchange program? If not, will you qualify for a lower rate on the federal exchange?

5) What type of medical coverage are you looking for?

As an example, for a plan that offers a generous coverage, low deductible, and low maximum out of pocket, the policy my wife and I have through the employer benefit costs around $1,100 per month. My brother-in-law worked for a union shop and for a similar policy as mine through his employer benifit, it costs ~$230 per month.
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Old 07-26-2014, 09:49 AM   #49
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It depends.....

1) Does your (or your wife's) employer offer retiree medical coverage as a benifit?

2) Are you eligible for military benefits?

3) Were you working in a union job?

4) Did your state chose to participate in the medical insurance exchange program? If not, will you qualify for a lower rate on the federal exchange?

5) What type of medical coverage are you looking for?

As an example, for a plan that offers a generous coverage, low deductible, and low maximum out of pocket, the policy my wife and I have through the employer benefit costs around $1,100 per month. My brother-in-law worked for a union shop and for a similar policy as mine through his employer benifit, it costs ~$230 per month.
I have a NO, for questions 1-3 above.

DW will be covered under Medicare. For my needs, I would go for the worst plan, i.e., highest deductible. I'm only looking for catastrophic insurance.

Luckily, I'm in great health, except for the bad back now and then from all the sitting at work and long commutes by car. But, I work out and still walking, 7 days a week, about 50 miles each week.
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Old 07-26-2014, 11:31 AM   #50
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The OP is thinking of renting out his home. I have a rental property and would suggest that you never do that. Sell the home, the cash won't give you near as many problems.
I agree. Friends down the street rented their house to supposedly wonderful family. Two years later had to evict the renters and are looking at tens of thousands in repairs so they can sell the house. One month's rent for the damage deposit won't cover much at all.
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Old 12-24-2014, 01:48 AM   #51
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so what did you decide to do

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I need your sage advice gentlemen...I'm 52 and considering giving up my full time income (~$105k + DW ~$45k) and live off of my military retirement and disability while living in fl so I can care fore my parents (90 & 88). We would live out of our mh at MacDill Air Force base ~$400 a month, pick up work where ever, and rent our home at $1500.00 per month.

The real advice I need is....when do you know when it is time?? Many of you have faced career decisions such as this.....when do you really know it is time??

Don't hold back!

Thanks in advance for your honesty, and personal experiences....
Just found this thread and was wondering what you decided to do. I retired Sep of this year at age 56. 31 years was enough with the stress I was carrying around. The first 10 days I was not feeling good. Felt disconnected and a little depressed. I had approximately 5000 employees under me and it was a stressful line of work. I knew it was the right time to leave at the 31 year mark. Along comes a major corporation and offers me a VP position. Wow what a great opportunity. ya think. NO. Pay combined with retirement was over 500 year. Now this may sound funny but is it worth it. How many more years would I do. Knowing me I would say 4 but that would be is 10 more knowing me. Sat down with the wife and we said enough is enough. Broke contract I signed and told them why. You know what they said. We understand and if you change your mind let us know.
Ordered our new coach and are waiting for delivery. You know when you know its time to get on with living!!!

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Old 12-24-2014, 02:55 AM   #52
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I retired at 54. Came home from a 2 week trip and the company called me out for another 2 week trip again to the sand box (Middle East) about 2 days later. The DW said "why don't you just retire?". I thought no way, nobody in my family ever retired that young before. But then it hit me, it's not that we could not afford to retire just that no body had done it before in my family at such a young age. Well to me that was just as dumb excuse as any. So I did but the wife had to wait another year. Now we are full timing it.

How can you beat doing what you want to do when you want to do it?
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Old 12-24-2014, 11:06 AM   #53
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I retired at 54. Came home from a 2 week trip and the company called me out for another 2 week trip again to the sand box (Middle East) about 2 days later. The DW said "why don't you just retire?". I thought no way, nobody in my family ever retired that young before. But then it hit me, it's not that we could not afford to retire just that no body had done it before in my family at such a young age. Well to me that was just as dumb excuse as any. So I did but the wife had to wait another year. Now we are full timing it.

How can you beat doing what you want to do when you want to do it?
LDMCK I think you did the right thing. If I could have left a year earlier I would have. I didn't want to leave my boss alone more than a couple of months without me when I had decided to go. 54 is a good age to retire as I said I'm 56 and my wife is just turning 50 this year both of us retired and are waiting on that Coach to show up in March.. Timing is everything certainly with finances having to be in order. But your lifestyle that you want to carry on will have to be the balance in conjunction with your health. I hope everyone has a Merry Christmas and a wonderful new year.

Jim & Natalie
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Old 12-27-2014, 04:07 PM   #54
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I worked in a high stress industry for +35 years. I had stress when I was a young engineer, foremen, superintendent, manager, general manager, VP, and finally COO. Yes my Dad was happy when I told him of each promotion, never really told him what I made though.

Some people would think I had the a great life. The last 3 years I spent +500 days on the road in not so nice places. The last year was pure hell and I decided enough was enough. I advised my boss that I wasn't going to work long and he better find my replacement, he finally relented.

Unfortunately I saw both my parents pass in the last 3 years, which was an eye opener for me. Although my mom was in poor health my dad's passing was hard.

I retired May 18th and so far so good. We've taken a number of trips in the RV and plan on more but no real rush. Just turned 56 in June so I have time to do what I want and if my financial planning spreadsheets are correct I'll have enough money. If something happens I'll do some contract work, people with my skills sets will be in demand for a long time.

For now I'm going to enjoy my self and relax and smell the roses.
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Old 12-27-2014, 04:24 PM   #55
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I retired at 51 (in 1999). I had 30 years in with the State of WA and was a network manager. Not much to be gained by staying longer and I had just gotten passed over for promotion to Regional Manager by the son of a bigwig in the Region (done illegally too). And at the time the IT consulting was big so I did that till the crash. Been working as a security guard at minimum wage for the last 10 years waiting for the DW to retire. Then my parents got to needing more care so that took time too. Then, a week after the DW put in her retirement papers her daughter died and we ended up with two grandkids to raise. One has moved out but the younger is 15 so years to go with him. THEN, three years ago the DW's health went south and she's now on long term disability and we may never get to go full time due to it.
SO, is there EVER a good time to retire?
I guess the answer is AS SOON AS YOU CAN!!
In our case money isn't the problem. We purposely structured our income to be lower while working so we got more at retirement. And now the DW's health issues come into play. Guess the Dr's and hospitals will reap the "benefits" now!
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Old 12-27-2014, 04:31 PM   #56
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Amen Mr_D
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