OP
@sdg avatar
UTC

Veni, Vidi, Posti
63 GS160 MK1 / GT60 / Sean Wotherspoon
Joined: UTC
Posts: 6544
Location: Thousand Oaks
 
Veni, Vidi, Posti
@sdg avatar
63 GS160 MK1 / GT60 / Sean Wotherspoon
Joined: UTC
Posts: 6544
Location: Thousand Oaks
UTC quote
So who's done it, who's planning for it and what is your magic formula. I turned 50 in May and suddenly my two biggest things I ponder is when do I clean up my trust for the wife and kids and what's my exit strategy from the work force. Probably have VSO turned over to my Son Jordan within 5 years and scale back my hours. Want to ride my scoots, drive my cars, play with my dogs more and travel with my wife Lynda more. Been a workaholic for 30 years, still feel young and strong and want to line up some fun. Please discuss your situation if you are willing to.

Best,
SDG
@cdrpierce avatar
UTC

Hooked
GTV300ie
Joined: UTC
Posts: 312
Location: Raleigh NC
 
Hooked
@cdrpierce avatar
GTV300ie
Joined: UTC
Posts: 312
Location: Raleigh NC
UTC quote
Do what makes you happy as long as you can. Cancer, a very bad surgeon and a herniated disc forced my "retirement" at 43. I'm almost 50 now and would be happy to be able to walk around the block.
@larrymk avatar
UTC

Molto Verboso
Vespa Super 300
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Posts: 1878
Location: AZ
 
Molto Verboso
@larrymk avatar
Vespa Super 300
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Posts: 1878
Location: AZ
UTC quote
So I am 60 still working and hoping to work for at least another 10 years. I think without the mental stimulation i would go crazy, but then again I am someone who has worked a long time, had a lot of hardcore training before that and may not be a normal example. As my youngest daughter has just started Medical School which will cost a fortune and I want to help her out retiring is not in my future. but this is just me.


larry
@gogogordy avatar
UTC

Veni, Vidi, Posti
Reprehensible Misinformant
Joined: UTC
Posts: 7573
Location: Winchester, California
 
Veni, Vidi, Posti
@gogogordy avatar
Reprehensible Misinformant
Joined: UTC
Posts: 7573
Location: Winchester, California
UTC quote
Metamucil.
There, I said it.
@raputtak avatar
UTC

Ossessionato
2016 GTS 300 Super - red, of course.
Joined: UTC
Posts: 4755
Location: Hertford, North Carolina
 
Ossessionato
@raputtak avatar
2016 GTS 300 Super - red, of course.
Joined: UTC
Posts: 4755
Location: Hertford, North Carolina
UTC quote
If there is anything you have to do, do it before you retire. You won't have time afterwards.
@caschnd1 avatar
UTC

Grumpy Biker
1980 Vespa P200e (sold), 2002 Vespa ET4 (sold), 1949 Harley-Davidson FL
Joined: UTC
Posts: 5358
Location: Sparks, Nevada, USA
 
Grumpy Biker
@caschnd1 avatar
1980 Vespa P200e (sold), 2002 Vespa ET4 (sold), 1949 Harley-Davidson FL
Joined: UTC
Posts: 5358
Location: Sparks, Nevada, USA
UTC quote
I'm in the planning stage. I made the all too common mistake of waiting until I was 32 years old to start saving. Now I save as aggressively as I can to try and make up the gap. I max out my 401K including "catch up" contributions since I'm over 50. My wife maxes out her SEP-IRA. In addition I save another 15% of my gross. My research tells me that I have saved about 4X the average in my age group and zip code but still feel like I'm on the edge. I'd like to retire in 8 to 10 years. My goal will be to travel more, ride more, and find some sort of low stress work to keep the mind sharp.

If I could change anything, I'd have started saving for retirement from day one.

-Craig
@rkcoker avatar
UTC

Addicted
Piaggio BV350
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Posts: 950
Location: Mesquite, TX
 
Addicted
@rkcoker avatar
Piaggio BV350
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Posts: 950
Location: Mesquite, TX
UTC quote
I'm 66 and have plans to work full time until I'm 70. Already have one retirement annuity on the books and let it simmer. Working now to reduce all our bills to as low as possible.
Never really had a solid plan. Just went with my gut feeling. I know, that's not considered smart but when a plan gets too complicated, I feel I have to go with what seems right.

By the way, my cardiologist told me to never retire because of the tendency to lose something without outside stimulation.
@yayadave avatar
UTC

Ossessionato
MP3 500 - GTV250
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Posts: 2970
Location: Near Pittsburgh
 
Ossessionato
@yayadave avatar
MP3 500 - GTV250
Joined: UTC
Posts: 2970
Location: Near Pittsburgh
UTC quote
I won't mention financial strategies.

But, to actually be able to ENJOY your retirement, about six months ahead of time, start practicing saying "No."
@bill_of_ojai avatar
UTC

Hooked
GTS300 Super
Joined: UTC
Posts: 217
Location: Ojai, CA
 
Hooked
@bill_of_ojai avatar
GTS300 Super
Joined: UTC
Posts: 217
Location: Ojai, CA
UTC quote
Dear David,

Best I can offer is that I was fortunate enough to retire most of my debt at retirement. Freed up enough money to do some traveling.

Also found it beneficial to be involved with something outside the home - I manage a family partnership. If I didn't have that, I'd volunteer somewhere.

All the best to you and yours!
@dnh31tlg10 avatar
UTC

Enthusiast
2008 GTS 250 and 1973 VNL3T TS 125
Joined: UTC
Posts: 57
Location: Vacaville, CA
 
Enthusiast
@dnh31tlg10 avatar
2008 GTS 250 and 1973 VNL3T TS 125
Joined: UTC
Posts: 57
Location: Vacaville, CA
UTC quote
Did it almost three years ago. Had best financial advice at 19: save for yourself; don't expect military retirement to cover everything. Saved, invested & didn't carry large debt at retirement. Now I ride, travel, volunteer for Habitat for Humanity, take online classes and enjoy life while in relatively good health & spirits. My life is my own and I wouldn't have it any other way! Enjoy and definitely have plans that keep you busy while making you happy.

Denise
@aviator47 avatar
UTC

Moderator
2006 PX 150 & Malossi Kitted Malaguti Yesterday (Wife's)
Joined: UTC
Posts: 12955
Location: Paros Island, Greece
 
Moderator
@aviator47 avatar
2006 PX 150 & Malossi Kitted Malaguti Yesterday (Wife's)
Joined: UTC
Posts: 12955
Location: Paros Island, Greece
UTC quote
YaYaDave wrote:
But, to actually be able to ENJOY your retirement, about six months ahead of time, start practicing saying "No."
^^^^ This. During my last assignment before retiring, we met a fellow who had retired two years previous. He had two very responsible jobs, senior exec with Boeing, and senior officer in the Army Reserve. As retirement from both approached (age 60), he said he was concerned about what he would do with "all the free time."

Within a month of his retirement, his life was out of control with demands on his time. He said that it dawned upon him that Boeing and the Reserve really "managed his calendar", and when he retired, that responsibility was suddenly on his shoulders. His corrective action was exactly what Dave said, he learned to say "No".

His wife also offered this bit of wisdom, "We married for better or for worse, but not necessarily for lunch".

If you and Lynda are "social animals" it can be a help and a hindrance. Your circle of friends who have not yet retired will not have the time you have to interact. So, you might need to find a wider circle.

Lastly, all too many people derive their identity from their job. Being mentally prepared to make that break is a big help. The fellow above addressed that as well. His philosophy was that there were many Boeing execs and Reserve Generals, but there was only one "Jack Jones".

Life after retirement is great. The hours and working conditions are the best, and easily make up for the reduction in pay.
⚠️ Last edited by Aviator47 on UTC; edited 1 time
@genie avatar
UTC

Gobshite Shiva
Kymco Downtown 300i the 'Dolphin Noise'
Joined: UTC
Posts: 14960
Location: London UK
 
Gobshite Shiva
@genie avatar
Kymco Downtown 300i the 'Dolphin Noise'
Joined: UTC
Posts: 14960
Location: London UK
UTC quote
i'll never be able to retire. i spent my 20s and 30s larking about, making art, not earning much, not saving anything ... but I had a fantastic time

i'd be more worried about this were it not for two things...

1. i love what i do and i don't want to stop when i'm 60 or even 70. if they will keep me on, i'll keep doing it.

2. people in my family tend to work until very late in life. My uncle was finally pried away from running his business at the age of 85. My ma still works a 20-30 hour week (out of choice, not necessity) at the local botanical garden, where she is in charge of the volunteer staff. she's also just started doing part time consulting work, advising people on how to plant and manage their gardens. she's 87.

i'm also debt-free (apart from a mortgage), have no dependents (other than cats) and am a pretty competent saver. i'll muddle through somehow
@montliz avatar
UTC

Hooked
Elite GTS li150 HOG
Joined: UTC
Posts: 387
Location: Galveston, Texas
 
Hooked
@montliz avatar
Elite GTS li150 HOG
Joined: UTC
Posts: 387
Location: Galveston, Texas
UTC quote
Raputtak wrote:
If there is anything you have to do, do it before you retire. You won't have time afterwards.
You also won't have the money...
@tor2ga avatar
UTC

Ossessionato
Looking for the next one, probably electric
Joined: UTC
Posts: 3637
Location: Babcock Ranch, Florida
 
Ossessionato
@tor2ga avatar
Looking for the next one, probably electric
Joined: UTC
Posts: 3637
Location: Babcock Ranch, Florida
UTC quote
1) Find a professional financial adviser who specializes in retirement and pay them their fee for advice. It will be money well spent.

2) Don't expect to get intelligible Information on Soc Sec from the Soc Sec Admin. And it is really complex. (see #1) For instance, you know that you get less per month if you start getting it at 63 or 64 rather than waiting until 70, as much as 1/3 less. BUT, the total number of dollars received will be greater than the late starters until age 85 when they pull ahead. So, do you think you will live to 85? Step right up and place your bet.

3) Get several opinions on managing your estate. Many lawyers represent themselves as estate planning specialists with no more than a weekend course in a Holiday Inn as their education in it. (see #1)

Several years ago my wife and I worked together in real estate. She developed RA which threatened to become crippling. We looked at each other and said, "We've got enough; let's blow this joint." We moved to sunny Florida, her RA improved, life improved, stress went away. We are happily into the best part of our lives so far. My only complaint is that our lives are laid out backward. Retirement should come first.
@acejones avatar
UTC

Addicted
Vespa 946,Yamaha Vino
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Posts: 849
Location: GULF COAST
 
Addicted
@acejones avatar
Vespa 946,Yamaha Vino
Joined: UTC
Posts: 849
Location: GULF COAST
UTC quote
Don't get your financial and retirement planning advice from this or any other web site like it.
@jimc avatar
UTC

Moderaptor
The Hornet (GT200, aka Love Bug) and 'Dimples' - a GTS 300
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Posts: 43408
Location: Pleasant Hill, CA
 
Moderaptor
@jimc avatar
The Hornet (GT200, aka Love Bug) and 'Dimples' - a GTS 300
Joined: UTC
Posts: 43408
Location: Pleasant Hill, CA
UTC quote
My wife died when I was 52, and the job I'd loved up for 25 years until a few months beforehand changed character. With mortgage debt paid off by life insurance, it seemed like a good time to retire - but it wouldn't have been possible without the rather generous final salary scheme. I reckoned that as long as I could pay all household expenses plus beer, petrol and a new bike every so often I'd be happy - and so it transpired.

Best decision of my life! I changed from being a commuter rider to riding purely for fun, grew an extra circle of friends, started touring Europe, met Ivana Tinkle in Italy, chased her back to the US and we married last year. Now happier than I've ever been.

Having all the financial ducks in a row is an essential pre-requisite, but as long as income will cover all outgoings and a bit more, retiring is the best way to have the opportunity to do all those things you never had time for before. You'll very soon wonder how you ever had the time to go to 'work'.

Do it ASAP!
@fledermaus avatar
UTC

Veni, Vidi, Posti
2007 LX150 2015 GTS (on the bench) 2017 BV 350
Joined: UTC
Posts: 11961
Location: Fond du Lac, Wisconsin
 
Veni, Vidi, Posti
@fledermaus avatar
2007 LX150 2015 GTS (on the bench) 2017 BV 350
Joined: UTC
Posts: 11961
Location: Fond du Lac, Wisconsin
UTC quote
Retirement's been on my mind a bit more these days. Turned 59 this year. Some years back, said I'd work until I couldn't. Suddenly it looks more appealing. Sister and BIL both pulled the plug this year at 62 which doesn't help.

Still, love my work, and being self-employed gives me the flexibility to set my hours and days. I've decided on a phase-out, either find an associate to take over the practice with time, or failing that, start showing up later some days, extra afternoons off, or whatever. Think I can pull that off until at least 70. Seems like a good target at the moment. Another reason to keep going is that when I'm 65, our daughter will be just graduating from high school, so some college support might not be a bad idea.

Fortunately, I think I'm fairly well set financially, so if I have
to pull the plug earlier, it won't be too painful. Rather be safe, though.

Definitely upping my vacation allowance in the meantime. 8)[/i]
@web-tech avatar
UTC

Veni, Vidi, Posti
2008 MP3 500, 2013 BV350, 2020 Vespa Sei Giorni, 2008 Vespa S150
Joined: UTC
Posts: 8935
Location: Ashburn, Va. Home to the Internet
 
Veni, Vidi, Posti
@web-tech avatar
2008 MP3 500, 2013 BV350, 2020 Vespa Sei Giorni, 2008 Vespa S150
Joined: UTC
Posts: 8935
Location: Ashburn, Va. Home to the Internet
UTC quote
montliz wrote:
Raputtak wrote:
If there is anything you have to do, do it before you retire. You won't have time afterwards.
You also won't have the money...
That's all in how you planned
@wmak avatar
UTC

Moto Giro Titan
2009 GTS 250 Super Lucrezia Borgia, 2013 Ducati Hyperstrada, Little Big Red,2020 Zero SR/S, Zeus, Electric Dragon
Joined: UTC
Posts: 2658
Location: Carrollton, Kentucky
 
Moto Giro Titan
@wmak avatar
2009 GTS 250 Super Lucrezia Borgia, 2013 Ducati Hyperstrada, Little Big Red,2020 Zero SR/S, Zeus, Electric Dragon
Joined: UTC
Posts: 2658
Location: Carrollton, Kentucky
UTC quote
I retired after 32 years as a high school Spanish and French teacher. Our state retirement system is one of the best in the US, plus I began saving in earnest a decade before actually pulling the plug. My wife retired a few years before me, so we have lots of time for lunch every day. We love travel, so we are always either on a trip or planning the next one. When we're home, we volunteer with the schools and participate in a youth mentoring program. I loved being a teacher, and now I love being a retiree!
@montliz avatar
UTC

Hooked
Elite GTS li150 HOG
Joined: UTC
Posts: 387
Location: Galveston, Texas
 
Hooked
@montliz avatar
Elite GTS li150 HOG
Joined: UTC
Posts: 387
Location: Galveston, Texas
UTC quote
David, I'd venture that you won't really be able to retire at this age. Your plan to turn over your current business to your kids is a good one and seeking professional financial planning advice can't hurt, but the problem will be that, for want of a better way of saying it, you may just be too young to pull it off. You'll immediately notice the financial squeeze and there will be way too many opportunities to do something about it and before you know it you may find yourself back on the grid.

My oldest little boy retired from the navy with full retirement at age 48 and, despite his best intentions, now has a going business with two full-time employees. It wasn't the money; he just couldn't deal with all the leisure time and the lack of responsibility, not to mention the phone not ringing off the hook with people expecting him to do something for them. YMMV.

When you're obviously past the median workforce age and have mobility and acuity issues and other health concerns it's easier to imagine just relaxing and taking your time about all the little things in daily life. Your definition of what constitutes a good day and a good week will change for the simpler and the money will not be as high of a priority.

Best of luck and health to you in whatever you decide to do.

Johnny
@oldscoot avatar
UTC

Addicted
2014 GTS Super Sport SE (wrecked); 2015 Genuine Hooligan 170i (sold)
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Posts: 925
Location: Houston, Texas
 
Addicted
@oldscoot avatar
2014 GTS Super Sport SE (wrecked); 2015 Genuine Hooligan 170i (sold)
Joined: UTC
Posts: 925
Location: Houston, Texas
UTC quote
I retired 3 years ago at age 64. In the very beginning it was a strange. I went from being a "somebody" in a very public law office to getting in my wife's way at home. It can be a steep fall and your must be able to find yourself quickly. I soon launched myself into my hobbies and made efforts at extending friendships with other guys who had retired. I was able to get appointments as a type of administrative law judge in eminent domain cases and that kept me fresh. My son has recently opened his own law practice so I am on the phone frequently discussing issues and doing research and the like. I imagine that when you turn your business over to your son you will be on the phone a great deal also.

However all things considered I don't miss the stress of daily work. I miss some of the social aspects of the office but don't miss the petty, political, horseshit that goes along with the territory. I like the idea of owning my life.

As I'm oft to say, "Everyday is Saturday."
OP
@sdg avatar
UTC

Veni, Vidi, Posti
63 GS160 MK1 / GT60 / Sean Wotherspoon
Joined: UTC
Posts: 6544
Location: Thousand Oaks
 
Veni, Vidi, Posti
@sdg avatar
63 GS160 MK1 / GT60 / Sean Wotherspoon
Joined: UTC
Posts: 6544
Location: Thousand Oaks
UTC quote
Well you kids have already given me a lot to think about. Keep it coming!

SDG
@uffdaphil avatar
UTC

Member
'10 GTS 300 Super
Joined: UTC
Posts: 33
Location: Twin Cities
 
Member
@uffdaphil avatar
'10 GTS 300 Super
Joined: UTC
Posts: 33
Location: Twin Cities
UTC quote
The best thing I did was ease into retirement by working six hours per day my last year by mixing accrued vacation time and unpaid time off. Lowered my stress level and got me used to having more free time and living on less income. It's been 3.5 years now and I love it. I finally have time to read all I want. If you are not a reader, better make sure you have something you love to spend a lot of time on that does not cost money.
@karlu avatar
UTC

Hooked
'12 Kymco People GTi300, '06 Yamaha Morphous,'10 Vespa GTS300s
Joined: UTC
Posts: 380
Location: las cruces, nm
 
Hooked
@karlu avatar
'12 Kymco People GTi300, '06 Yamaha Morphous,'10 Vespa GTS300s
Joined: UTC
Posts: 380
Location: las cruces, nm
UTC quote
Retirement
I retired at 60...my wife had 6 years to go until she could retire. One of the biggest adjustments I had to make when she retired was getting used to "another person" being involved during the daytime (I'm sure it was a big adjustment for her as well).

Shortly after she retired we moved from Michigan to New Mexico, another big change.

Until her back started acting up she rode scooters and sidecars with me, which was nice. Being an old ER nurse she really had some serious problems with me riding for a while.

I would say to plan well, stay involved with what you love, and do what you want when you want. Good luck with your planning, although I also think actual retirement is some way off for you.

Karlu
Las Cruces, NM
@harvey avatar
UTC

Ossessionato
2016 Honda NC750XD, 2007 GTS (sold),
Joined: UTC
Posts: 3517
Location: Canada
 
Ossessionato
@harvey avatar
2016 Honda NC750XD, 2007 GTS (sold),
Joined: UTC
Posts: 3517
Location: Canada
UTC quote
Oh, Man! And I was all set to buy my 2019 GTS 380 from you!
@terryvanman avatar
UTC

Molto Verboso
Honda SH 300
Joined: UTC
Posts: 1146
Location: MALTA
 
Molto Verboso
@terryvanman avatar
Honda SH 300
Joined: UTC
Posts: 1146
Location: MALTA
UTC quote
Retired 3 plus years ago age 64. it took me about a year to realise I didn't have to get out of bed at 7 am as I had for the previous 20 years.

Spent a lot of dosh on my campervan and use it as much as possible. I get up and decide to pop down to the coast for the day. even in the middle of the week....no more queuing on the motorways on bank holiday weekends or mad dash home on a sunday night.

I've taken it down to Spain 4 times and Greece once. I've toured around Scotland, Wales, Cornwall and all places east. planning is also part of it, sitting looking at maps and wondering what it would be like to drive along this or that road that hugs the sea? What are the beaches like along there?

So I suppose the van is my main hobby. That's one thing you should do, get a hobby, build that man cave/shed in the back garden, use the spare room if you have one.

Don't take life to seriously, accept people for what they are, if they talk crap just listen to them, some people are really interesting and the older they get the more memories they have. Sit and have a beer or two with them and take in their knowledge or share yours. and remember, they ain't going home with you.

One thing I did was join a gym. the local council usually have a cheap system where you can go during the day when they are not busy and you can usually swim for free. Not only do you meet the same age group, you'll realise that your health will improve and you will be much more flexible. Enough to still be able to throw you leg over a scooter even when you're approaching 70

The only sad part of growing old is some of you lifelong friends will pass away. Thats when you will say "I wish I had listened to them even if it was crap.

Good luck, I'm sure you will make the right decision 8)
@vespizzare avatar
UTC

Addicted
Customized 2006 LX150 Thunderbolt the Wondercolt
Joined: UTC
Posts: 937
Location: Santa Monica, CA
 
Addicted
@vespizzare avatar
Customized 2006 LX150 Thunderbolt the Wondercolt
Joined: UTC
Posts: 937
Location: Santa Monica, CA
UTC quote
I love being retired, but I'm a lazy bum who didn't like working in the first place. A person doesn't live the life you lead then turn it off like a switch and go lay on a hammock. I don't know you that well away from the store, but I can't see you as anything but an very active person. So whether you get involved in fighting hunger or saving the Monarch butterfly, it won't be while you're relaxing and enjoying. You're too hyper. When you have a lot of free time (and enough moolah), you'll do a bunch of projects you didn't have time to do before, then you go on living an see what happens. The BIGGEST THING, BY FAR is having your health.
⚠️ Last edited by Vespizzare on UTC; edited 1 time
@aviator47 avatar
UTC

Moderator
2006 PX 150 & Malossi Kitted Malaguti Yesterday (Wife's)
Joined: UTC
Posts: 12955
Location: Paros Island, Greece
 
Moderator
@aviator47 avatar
2006 PX 150 & Malossi Kitted Malaguti Yesterday (Wife's)
Joined: UTC
Posts: 12955
Location: Paros Island, Greece
UTC quote
So far, as best I can tell, there hasn't been anyone who said they regretted retiring. If that's the case, it says something.
@teapotdome avatar
UTC

Molto Verboso
2006 GT (sold) 2015 GTS (sold) 2007 LX (sold)
Joined: UTC
Posts: 1142
Location: Just outside Milton, Georgia USA
 
Molto Verboso
@teapotdome avatar
2006 GT (sold) 2015 GTS (sold) 2007 LX (sold)
Joined: UTC
Posts: 1142
Location: Just outside Milton, Georgia USA
UTC quote
At 62, I've been retired for four years now. I did some free-lance work for two years after I left Corporate America, but after encountering two clueless and intransigent client projects in a row, I decided that I didn't really need even that shit anymore...

I recommend thinking of the transition to retirement in about the same way as the transition from adolescence to adulthood -- your level of responsibilities will change; your available time for your own use is much different; and frankly, your body will change in ways that will astonish and surprise you.

"Teapotdome 2.0" is my new pursuit. Just as I had to become an adult at 18, I now have entered what I'll call "post-adulthood." I get to make up the rules as I go along, based upon time and funds available. (The previously suggested use of a competent financial advisor is very good advise, by the way.) I am now teaching a night course at Emory; building a wooden kayak; traveling pretty much as I please; reading; learning to paint with watercolors -- in short, making sure that whatever moves me is pursued to the level at which I find appropriate. I just have to make sure there's enough sand in the sandbox.

It's good to be da King.

One more thing: as many on this Forum know, carpe diem. I've worked with far too many people who have succumbed to illness just before or just after retirement. Live today; tomorrow will take care of itself.
@fergy avatar
UTC

Hooked
2021 GTS300 Racing Sixties
Joined: UTC
Posts: 182
Location: Selbyville, DE
 
Hooked
@fergy avatar
2021 GTS300 Racing Sixties
Joined: UTC
Posts: 182
Location: Selbyville, DE
UTC quote
Also retired about 4 years ago and am closing in on 62. Made sure to look into volunteer opportunities which got me gigs as a trail maintainer on the Appalachian Trail, Master Gardener for the Cornell Cooperative Extension and weeder at our local Arboretum. I have been involved with community theatre as an actor, director and treasurer of our local troupe. Riding scooters was a long time dream and one of the best decisions I have made since retiring was learning to ride (still much to learn) and getting my BV250. What a joy to be able to just ride any time, any day. To quote the Grand Duchess of Downton Abbey, "What is a weekend?" With the right attitude and avoidance of sedentary ways you will be a happy camper!
@old_as_dirt avatar
UTC

Veni, Vidi, Posti
2007 GTS
Joined: UTC
Posts: 22418
Location: Harriman, Tennessee, Tn
 
Veni, Vidi, Posti
@old_as_dirt avatar
2007 GTS
Joined: UTC
Posts: 22418
Location: Harriman, Tennessee, Tn
UTC quote
what's on your bucket list?
@martyw avatar
UTC

Hooked
2006 VESPA GT200
Joined: UTC
Posts: 108
Location: Vancouver Island
 
Hooked
@martyw avatar
2006 VESPA GT200
Joined: UTC
Posts: 108
Location: Vancouver Island
UTC quote
35 yrs as a corporate workaholic, took an early retirement package at 58 ~ package helps! Then consulted for a planned five year term under a fairly strict regime ~ strictly 9-2-5 with long lunches. Most importantly reduced my work days by one per week each year. Purchased our retirement home, spending a fortune modernizing a 100 yr old home. Eased myself into various pastimes and made them into hobbies.

The best laid plans of mice and men ..... we woke up one morning and said there's time for at least one more challenge. We moved, 3,000 miles from city life to a rural Island one. That was 4 years ago. New hobbies, i.e., boating not kayaking, a seemingly full time volunteer role in SAR and a closeness to family ~ not too close and separated by a sea !

We're now pretty sure that we've still got one more challenge before we settle down.

The moral of the story: relax, enjoy & follow your 'gut'!
@sheridat avatar
UTC

Molto Verboso
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
 
Molto Verboso
@sheridat avatar
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
UTC quote
We both gave up work when we were both 55 after working for a large corporate US IT firm started by 2 guys in a garage (no not those apple guys)

We had already traveled extensively - so we did the one thing that we had never been able to do whilst we were working - which was to get that little fella called Ben who is the avatar on the left.

He really has brought us so much joy - we all go to the beach every morning then again in the afternoon followed by an hour in the pub.

If you ever wanted a dog but couldn't because of work responsibilities I can't recommend one enough!!
@acejones avatar
UTC

Addicted
Vespa 946,Yamaha Vino
Joined: UTC
Posts: 849
Location: GULF COAST
 
Addicted
@acejones avatar
Vespa 946,Yamaha Vino
Joined: UTC
Posts: 849
Location: GULF COAST
UTC quote
Does Ben get to go to the pub, too ?
@sheridat avatar
UTC

Molto Verboso
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
 
Molto Verboso
@sheridat avatar
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
UTC quote
He certainly does - in fact we don't go to pubs that don't let the little fella in. Most of the pubs around here allow you to take your dog in the bar area and if it is good weather we all just sit outside in the beer garden. He just goes to sleep bless him.
@chukstr avatar
UTC

Molto Verboso
Dragon Rosso LX 150
Joined: UTC
Posts: 1364
Location: Pismo Beach, CA
 
Molto Verboso
@chukstr avatar
Dragon Rosso LX 150
Joined: UTC
Posts: 1364
Location: Pismo Beach, CA
UTC quote
David,

I retired at 57, now 66. While this may not apply in your case, we spent the first two years figuring out where we wanted to live. We were in a very expensive area, and didn't want or need to stay there.

Being a geek, I also created a very complicated retirement model, where I could play with different expectations for investment income, as well as expense inflation. When the money lasted longer than I wanted to, I retired.

Bottom line, only you have an idea of how lavishly you want to live, how often you "need" to buy a vehicle, how much travel, etc. Careful introspection, combined with appropriate analysis will leave you confident in your decision.
@sheridat avatar
UTC

Molto Verboso
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
 
Molto Verboso
@sheridat avatar
MP3 500 LT SPORT ABS/ASR
Joined: UTC
Posts: 1107
Location: Whitley Bay, Tyne & Wear - UK
UTC quote
chukstr wrote:
David,

I retired at 57, now 66. While this may not apply in your case, we spent the first two years figuring out where we wanted to live. We were in a very expensive area, and didn't want or need to stay there.

Being a geek, I also created a very complicated retirement model, where I could play with different expectations for investment income, as well as expense inflation. When the money lasted longer than I wanted to, I retired.

Bottom line, only you have an idea of how lavishly you want to live, how often you "need" to buy a vehicle, how much travel, etc. Careful introspection, combined with appropriate analysis will leave you confident in your decision.
Yep I agree with that - we don't spend our funds in a lavish manner anymore it doesn't make you any hàppier
@syd avatar
UTC

Ossessionato
GTS300 Super (Heinz) GTS250 Super (Bulger)
Joined: UTC
Posts: 4729
Location: Tempe, AZ
 
Ossessionato
@syd avatar
GTS300 Super (Heinz) GTS250 Super (Bulger)
Joined: UTC
Posts: 4729
Location: Tempe, AZ
UTC quote
fledermaus wrote:
Retirement's been on my mind a bit more these days. Turned 59 60 this year. Some years back, said I'd work until I couldn't. Suddenly it looks more appealing...
This, exactly this. Don't know what I'll do, I focus more on what I won't.
@kpgo avatar
UTC

Hooked
bv350 (sold) and now,'14 honda ctx700 dct
Joined: UTC
Posts: 498
Location: haifa israel
 
Hooked
@kpgo avatar
bv350 (sold) and now,'14 honda ctx700 dct
Joined: UTC
Posts: 498
Location: haifa israel
UTC quote
howdy, this has been an interesting read and I can't probably add anything but will tell experience anyway. retired with small union pension and a little money in the bank. no investments , not much except house and cars paid for. I only lasted 3 months till finding I was climbing the walls. I went back to a company I had worked for 40 years or so previously which needed seasonal help "part time" which amounts to a years worth of hours in 5 or 6 months and the other 6 months off. I did that until 2 years ago and started with the s.s and retired again. actually it has been a problem. I put on 30 or 40 pounds in the first 6 months. I guess that the problem is I identified with my profession which is trucking. al sorts lots of different things but mostly construction. i'm still having problems realizing that I can go and do what I want. I made a month long trip to England, Ireland, Israel and spain and realized I could move to any of those places and have enough to survive. now I just need to figure out what I want to do---

meanwhile i'll just ride around and see stuff. the scoot will be serviced with new belt and oil change and with the new windshield on i'll just head out somewhere next week.

ok--no help, just more reading

lotsa miles and smiles to ya
ken
@mpfrank avatar
UTC

Ossessionato
2020 MP3 500 HPE Sport ABS/ASR
Joined: UTC
Posts: 4661
Location: El Pueblo de Nuestra Señora Reina de los Ángeles sobre el Río Porciúncula
 
Ossessionato
@mpfrank avatar
2020 MP3 500 HPE Sport ABS/ASR
Joined: UTC
Posts: 4661
Location: El Pueblo de Nuestra Señora Reina de los Ángeles sobre el Río Porciúncula
UTC quote
I'm 66 and I am not planning to retire. Luckily, I am a self-employed professional and can set my own hours. Just this year, I had the opportunity to work more, but at something I have been wanting to do for a long time. I was offered a two-day-a-week job as a clinical supervisor and the coordinator of the group therapy program at a non-profit community counseling center. I jumped on it.

So I am being paid to do something I love doing. It doesn't pay a whole lot, but it's good work with good people. It's also something new for me, so I get the chance to be a beginner of sorts at my advanced age.

My wife, on the other hand, just retired after 40 years as a public school teacher and is thrilled. It turns out, though, that it's more a career change with a pension than an actual retirement, as she is starting a new career as a professional artist.

When you love your work, it's not work.
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