@noth avatar
UTC

Molto Verboso
Burgman 650 (May, 2012) MP3 500 (11/2009 - 5.2012)
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Location: Massachusetts- Boston South Shore
 
Molto Verboso
@noth avatar
Burgman 650 (May, 2012) MP3 500 (11/2009 - 5.2012)
Joined: UTC
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Location: Massachusetts- Boston South Shore
UTC quote
This has been a very difficult isse for me as well..

I am a commercial insurance broker.. I am involved with my clients a very high levels and specifically work with them to help them accomplish their mission. Most of my clients are Not for profits that have a vital mission. I have become very cose to my clients and consider most of them friends.. Several have asked me to warnthem if I am considering a retirement .. I am 61 ..so this is a critical issue.

My concern is what would I do that I enjoy more? IN addition, my employer will pay for m health insurance and pay my full salary simply for me to have a good time.

I golf about three times a week with clients, and go to things like Baseball (Go Red Sox !) , Football (NE Patriots) and Hockey (The bruins used to rule.. ) or Basketball (Celtics and Shaq.. what a combo !)so I am having way too much fun to retire. Wha? emoticon
@serial666 avatar
UTC

Member
2001 ET4
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Location: People's Republic Of Geordieland
 
Member
@serial666 avatar
2001 ET4
Joined: UTC
Posts: 25
Location: People's Republic Of Geordieland
UTC quote
I've been retired twice now, (I'm 57 by the way) both times by reason of ill health.
(both problems thankfully fixed!)
And I have to say that both times if I'd have had the cash I would have stayed that way.
Retirement is WASTED no old people.
Go for it while you can!
(If you need something to fill up your time then do something YOU want to do!)
@big_foot avatar
UTC

Ossessionato
Scooterless at the moment
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Posts: 2840
Location: Brooks, Alberta, Canada
 
Ossessionato
@big_foot avatar
Scooterless at the moment
Joined: UTC
Posts: 2840
Location: Brooks, Alberta, Canada
UTC quote
Being a dual citizen, Yes, I'd love to retire now, I'm half British and half Canadian,
But where should I retire to?

England? Too expensive, The recession for housing hasn't hit them yet,
But the ball could drop any day now, Kinda like what we went through in the 1980's.

France? Oh La La...I'd love to live in Paris.
But I'd miss the Franc, Euro's? I hate Euro's, They are way over inflated,
Kind of like Pound Sterling but over compensating.

Germany? I'd love to backtrack to see Berlin after the wall fell,
Not sure about living there in the winter though.

Is there anywhere?

Hmmmm...Maybe Spain, I haven't been there yet.

We'll see in 10 years.
@serial666 avatar
UTC

Member
2001 ET4
Joined: UTC
Posts: 25
Location: People's Republic Of Geordieland
 
Member
@serial666 avatar
2001 ET4
Joined: UTC
Posts: 25
Location: People's Republic Of Geordieland
UTC quote
Big Foot wrote:
Being a dual citizen, Yes, I'd love to retire now, I'm half British and half Canadian,
But where should I retire to?

England? Too expensive, The recession for housing hasn't hit them yet,
But the ball could drop any day now, Kinda like what we went through in the 1980's.

France? Oh La La...I'd love to live in Paris.
But I'd miss the Franc, Euro's? I hate Euro's, They are way over inflated,
Kind of like Pound Sterling but over compensating.

Germany? I'd love to backtrack to see Berlin after the wall fell,
Not sure about living there in the winter though.

Is there anywhere?

Hmmmm...Maybe Spain, I haven't been there yet.

We'll see in 10 years.
Have you considered Malta?
I had some leave there a couple of times, they love Brits there it's always warm, and the traffic is reasonably light.
@big_foot avatar
UTC

Ossessionato
Scooterless at the moment
Joined: UTC
Posts: 2840
Location: Brooks, Alberta, Canada
 
Ossessionato
@big_foot avatar
Scooterless at the moment
Joined: UTC
Posts: 2840
Location: Brooks, Alberta, Canada
UTC quote
Serial666 wrote:
Big Foot wrote:
Being a dual citizen, Yes, I'd love to retire now, I'm half British and half Canadian,
But where should I retire to?

England? Too expensive, The recession for housing hasn't hit them yet,
But the ball could drop any day now, Kinda like what we went through in the 1980's.

France? Oh La La...I'd love to live in Paris.
But I'd miss the Franc, Euro's? I hate Euro's, They are way over inflated,
Kind of like Pound Sterling but over compensating.

Germany? I'd love to backtrack to see Berlin after the wall fell,
Not sure about living there in the winter though.

Is there anywhere?

Hmmmm...Maybe Spain, I haven't been there yet.

We'll see in 10 years.
Have you considered Malta?
I had some leave there a couple of times, they love Brits there it's always warm, and the traffic is reasonably light.
I do so love the Torquoise colour of the ocean in Malta, It must be the white sand,
But I'd miss civilization, Isolation could only please me so much.

Now the Greek Isles on the other hand,
I'd love to punt around those islands in a nice little well equipped boat.

OP
@vcponsardin avatar
UTC

Hooked
2009 GTS 250ie
Joined: UTC
Posts: 273
Location: Urbana-Champaign, IL, USA
 
Hooked
@vcponsardin avatar
2009 GTS 250ie
Joined: UTC
Posts: 273
Location: Urbana-Champaign, IL, USA
UTC quote
Thanks for so many great ideas and thoughts. It's good to have such excellent input. Clearly I have a lot to consider before making a decision, but I'm also well aware of just how lucky I am to be able to have such choices. Regardless, it's bound to be an adventure whichever avenue I choose.
@steve avatar
UTC

Ossessionato
'06 Vespa LX150, '07 Suzuki Burgman 400, '05 Honda Metropolitan
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Posts: 3150
Location: Avon, Ohio (25 miles west of Cleveland)
 
Ossessionato
@steve avatar
'06 Vespa LX150, '07 Suzuki Burgman 400, '05 Honda Metropolitan
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Location: Avon, Ohio (25 miles west of Cleveland)
UTC quote
snowtires wrote:
Pensions are a baby-boomer thing What about the next generation?

Social security will be dried up
Pension = my tax dollars at work
Broken Healthcare
Huge Debt with taxes
Empty McMansion on every corner

... and yes I am jaded
Pensions are company funded, and have nothing to do with your tax dollars. You're contribution to my retirement at this time is zero. Personally, I made a conscious decision to buy a small, low cost house (about 1/3 the average home cost here) in order to *not* owe for the rest of my life. Paid it off in less than ten years. For several years prior to my retirement, I was putting as much as 54% of my income into my 401k and Roth IRA. My wife was putting 25% of hers in her Roth IRA. Both were at federal maximums or we'd have been contributing more.

The next generation needs to stop borrowing way way beyond their means, quit expecting everything to be given to them, and work hard to save for their retirement.
@peterc avatar
UTC

Ossessionato
2009 Vespa GTS 250, TBA
Joined: UTC
Posts: 2272
Location: Green Valley, AZ
 
Ossessionato
@peterc avatar
2009 Vespa GTS 250, TBA
Joined: UTC
Posts: 2272
Location: Green Valley, AZ
UTC quote
As I mentioned before, I am a writer. I am self-employed, and have been since 1989, when I was "downsized" by a large ad agency in Boston. My father told me years ago, "When you have your own business, you work for the meanest bastard in the world!" True. For the first five years, I took no vacations or weekends. But we lived within our means, and never bought anything we couldn't pay cash for. Now, we have no mortgage, and all our vehicles were bought for cash. As someone once said, "You can have it all, just not all at once."
@gjn avatar
UTC

Hooked
GT200 and a Sym 125
Joined: UTC
Posts: 123
Location: South Australia
 
Hooked
@gjn avatar
GT200 and a Sym 125
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Posts: 123
Location: South Australia
UTC quote
I retired at 49 two years ago. Now I realize you dont retire from work you should retire to something. It gets real boring playing golf and fishing every day. Now I am looking for some work I want to do. Retire from what you have to do to what you want to do. Financial independence means you can get a fun low paid job and not a high pressure high paid one.
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
I am still working at , 65. I have nothing to do so I think that is why I keep working. Kinda nuts but I can't help it.
tdi
@jimc avatar
UTC

Moderaptor
The Hornet (GT200, aka Love Bug) and 'Dimples' - a GTS 300
Joined: UTC
Posts: 44567
Location: Pleasant Hill, CA
 
Moderaptor
@jimc avatar
The Hornet (GT200, aka Love Bug) and 'Dimples' - a GTS 300
Joined: UTC
Posts: 44567
Location: Pleasant Hill, CA
UTC quote
Retire!

I had the opportunity to do so at age 52 - lived on savings for three years, then took the company pension (god bless it, magic, not a lot but enough). Getting out and about while young enough to still do whatever you want without aching and paining or taking rattle-tummy quantities of pills as so many now seem to do is effin' brilliant.

Oh, and did I mention the riding opportunities that are there available every single day? A huge YAY!!!! to those.
UTC

Member
150 LXV Protofino Green
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Posts: 7
Location: Naples, Florida
 
Member
150 LXV Protofino Green
Joined: UTC
Posts: 7
Location: Naples, Florida
UTC quote
If you think you can get by. DO IT. All the money in the world won't buy additional years once you get sick and can't enjoy retirement. I'm 65 and about ten years ago was in a similar situation as you. All of a sudden I developed heart problems. So I retired and love it. I ride my Vespa, fly model planes and we travel as much as we can afford. Also my health is better than ever.
Dave
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
Jim, I might have to re think this retirement thing.
ttyl, tdi
@tb avatar
UTC

Ossessionato
Vespa 2005 GT200 & Honda Metro
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Posts: 3517
Location: Honolulu
 
Ossessionato
@tb avatar
Vespa 2005 GT200 & Honda Metro
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Posts: 3517
Location: Honolulu
UTC quote
If you do not have activities, hobbies, plans, etc. to fill the void of retirement and you enjoy your job...contiune working.

However, please take a step back and decide. Personally there are a lot of things we'd like to get done during our retirement. Renovation of our condo, working on the scoot / scootering and travel...while we're still relatively "young".

Things are in order for me to retire at the end of this year...59 with a 4 year cash bridge to cover living expenses + medical coverage from partial pension + plus budgeted vacations. Then @ 62 1/2 early SS + 401K roll over. Then @ 65 Medicare kicks in and partial pension becomes retirement supplement.

This decision was driven after figuring out how much time I've got left to enjoy retirement and how fleeting that time will become...think back 20 - 25 years...it wasn't that long ago...

Whatever path you take...enjoy yourself!
⚠️ Last edited by TB on UTC; edited 1 time
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
Thanks for the advice. I just bought this new old house. I am a country boy now!. I move in October, 2. Looks like retirement is on it's way. I am sure this new house will give me plenty to do.




tdi
⚠️ Last edited by tdilover on UTC; edited 1 time
@volosong avatar
UTC

Molto Verboso
2010 GTS 300, 2008 MP3 500
Joined: UTC
Posts: 1284
Location: Rathdrum, ID
 
Molto Verboso
@volosong avatar
2010 GTS 300, 2008 MP3 500
Joined: UTC
Posts: 1284
Location: Rathdrum, ID
UTC quote
Re: retire
tdilover wrote:
http://crmls.fnismls.com/publink/default.aspx?GUID=e731a333-410e-4eb5-8c19-e157878e1830&Report=Yes
Very nice! Like the three car garage. Looks like a window air conditioner in the garage. What state? You'll have to get one of those fancy ridin' mowers. Enjoy.
@steve avatar
UTC

Ossessionato
'06 Vespa LX150, '07 Suzuki Burgman 400, '05 Honda Metropolitan
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Posts: 3150
Location: Avon, Ohio (25 miles west of Cleveland)
 
Ossessionato
@steve avatar
'06 Vespa LX150, '07 Suzuki Burgman 400, '05 Honda Metropolitan
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Posts: 3150
Location: Avon, Ohio (25 miles west of Cleveland)
UTC quote
GJN wrote:
Financial independence means you can get a fun low paid job and not a high pressure high paid one.
Wait, I retired from a fun low paying job? Do I go for a fun no paying job?
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
Looks like a window air conditioner in the garage. Have no idea what it is. will have to check it out.
tdi
UTC

Addicted
PX200 for aeons, Lambrettas in "60's",My wife's GTS250 when I'm good.
Joined: UTC
Posts: 809
Location: Auckland,New Zealand
 
Addicted
PX200 for aeons, Lambrettas in "60's",My wife's GTS250 when I'm good.
Joined: UTC
Posts: 809
Location: Auckland,New Zealand
UTC quote
Hmmm as an Oldie
I dont live in the States but think medical insurance is a big number item for retirees.

You may love your job and good luck if you do(, sincerely) .

Most people I know think being a "wage slave" sucks! More and more pressure being applied nowadays too. There is always a degree of sucking up to" the man" in any job if we are completely honest.

No man can promise himself he will see tomorrows sun. Time is short and the taxi cab meter never stops.

Boredom is in your personal outlook, it can seem like that if your personal finances are very constrained, it is then a case of thinking outside the square.

You are in a fabulous position I congratulate you on your good fortune, DO NOT die in the harness like a workhorse.
You will have wasted the opportunity to be more of your own man.
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
Excellent comments. I know have to get back to my drum lessons and i have no drums. I must be nuts...lol
tdi.
@jrsjr avatar
UTC

Molto Verboso
Nazgul
Joined: UTC
Posts: 1985
Location: North Chesterfield, VA
 
Molto Verboso
@jrsjr avatar
Nazgul
Joined: UTC
Posts: 1985
Location: North Chesterfield, VA
UTC quote
Re: NSR: Would You Retire Now If You Could?
vcponsardin wrote:
Each pension is not enough for me to retire on individually, but if I combine them (which I can), I'd be making about 105% of what I currently earn. Simply put-I can retire tomorrow and be making more in retirement than I do actually working at my job.
You should sit down and talk to a financial pro before you make your final decision, but I think it's a slam dunk for you to retire before somebody in your current state gets the idea of changing the rules. You would definitely regret that, wouldn't you? This is why I think you should talk to a pro. I think it's highly unlikely that you will regret taking retirement.
@knight_train avatar
UTC

Ossessionato
2017 BMW R1200GS and 2010 Vespa GTS 250 (shared)
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Posts: 4213
Location: San Diego
 
Ossessionato
@knight_train avatar
2017 BMW R1200GS and 2010 Vespa GTS 250 (shared)
Joined: UTC
Posts: 4213
Location: San Diego
UTC quote
Out the Freakin Door
To say that I am envious might well be the understatement of the decade.

Assuming I could fiscally accomplish it I would retire from my profession in a heartbeat. I'm 53. I will have to work to 60 and most likely 65. The thought of another 10 to 12 years is painful.

If you can afford it, why wouldn't you unless of course you have nothing better to do. I understand that some people truly derive so much enjoyment in their job that going to work doesn't feel like work.

In that case, I would endeavor to do what one did on a part time basis either for whom I already am doing it for or for someone else. Can you job share? That would reduce the time commitment and perhaps allow someone else to work less as well.

I would have no problems finding things to keep me occupied if I did not have to practice law every day.

For me, the answer would be simple. I'd give my employers the appropriate notice so that my colleagues would not be overburdened by my departure and I would scooter into the sunset.

Congratulations on being able to consider this important decision. I'm sure you earned it many times over.

Good luck with whatever you do.
UTC

Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
 
Hooked
2007 vespa gts 250
Joined: UTC
Posts: 138
Location: galway new york
UTC quote
retire
I can remember in the old days when i was ah spring chicken working 80 hours a week. Wanted to get ahead, but the government took most of my money. Now the money I have left which is not much lost about 50% of it's value in the real world.
tdi
@tb avatar
UTC

Ossessionato
Vespa 2005 GT200 & Honda Metro
Joined: UTC
Posts: 3517
Location: Honolulu
 
Ossessionato
@tb avatar
Vespa 2005 GT200 & Honda Metro
Joined: UTC
Posts: 3517
Location: Honolulu
UTC quote
Managing your retirement funds...
For those who might be interesested Ray Lucia's "Buckets of Money" was recommended to me by a close friend who did quite well in planning and now managing his retirement funds.

The title is not what it implies...not quantity of $ but the management of your retirement funds by allocating and then rebalancing. It's not a guarantee to wealth by any means....however it does provide some recommendations that are worthwhile to consider.

For those in your planning phase of retirement...you'll need to manage your retirement funds carefully, understanding that you may have a longer horizon towards retirement.

Those close to, or in retirement we still need to exercise due diligence in managing our funds...hence another activity to keep us busy...managing our retirement IRA's ...

Gook Luck!
@2011super avatar
UTC

Banned
2021 GTS 300 Touring
Joined: UTC
Posts: 4037
Location: Irvine, CA
 
Banned
@2011super avatar
2021 GTS 300 Touring
Joined: UTC
Posts: 4037
Location: Irvine, CA
UTC quote
I hope I never retire. I actually love working.
@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
Retirement can, nay should, be great. My suggestions for success;

1. Buy most of your "toys" while you are still working
2. Pay off all your debts
3. Have at least three hobbies
4. Ask the "wife's/partner's" permission
5. Relocate, if you can, to an area where the pace of live is slow, I mean slow!

I failed on #4!
@tb avatar
UTC

Ossessionato
Vespa 2005 GT200 & Honda Metro
Joined: UTC
Posts: 3517
Location: Honolulu
 
Ossessionato
@tb avatar
Vespa 2005 GT200 & Honda Metro
Joined: UTC
Posts: 3517
Location: Honolulu
UTC quote
martyw wrote:
Retirement can, nay should, be great. My suggestions for success;

1. Buy most of your "toys" while you are still working
2. Pay off all your debts
3. Have at least three hobbies
4. Ask the "wife's/partner's" permission
5. Relocate, if you can, to an area where the pace of live is slow, I mean slow!

I failed on #4!
Thumbs up! Great Checklist...agreed...

1. Check (backpacking / camping, golf, fishing, shooting [reloading], scooter...that's enough!)
2. Check
3. See #1
4. Double Checked! (approval secured so I can work on renovation project, mangement retire funds and baby sit the cats!) Seriously this should be #1! Don't assume!
5. Living in Hawaii may be O.K...but options will be considered...but need to keep in mind that an infrastructure needs exist (medical and support services) as we age.
@neptune avatar
UTC

Hooked
Vespa GTS 250.. Zundapp Bella R201..Royal Enfield Classic. 500.
Joined: UTC
Posts: 230
Location: Manchester UK
 
Hooked
@neptune avatar
Vespa GTS 250.. Zundapp Bella R201..Royal Enfield Classic. 500.
Joined: UTC
Posts: 230
Location: Manchester UK
UTC quote
I semi retired at 42 and now only work 2 days a week at 60.
I have lots of time to go to my friends funerals who did not make retirement.
If you can downsize your working existence especially if you are doing a job only for the salary..then do it..
I now do voluntary work driving people from their homes to hospital for treatment for terminal illnesses in many cases.
It certainly makes you enjoy your own healthy life.
Fortunately in the UK we have a very good National Health Service that never turns anybody away who requires treatment. We are presently treating most of the majority of eastern Europes major illnesses.
But thats another story....i should not digress..
If you can afford to retire... Do It.
@volosong avatar
UTC

Molto Verboso
2010 GTS 300, 2008 MP3 500
Joined: UTC
Posts: 1284
Location: Rathdrum, ID
 
Molto Verboso
@volosong avatar
2010 GTS 300, 2008 MP3 500
Joined: UTC
Posts: 1284
Location: Rathdrum, ID
UTC quote
Just one thing to ponder and consider ...

You mention that one of your pensions is from the state of Illinois. They are in pretty dire straights financially due to their currently grossly under-funded statewide pension systems. It wouldn't be a surprise at all if they "modified" their "promises" to their retiree population. I think I'd have more faith in the federal Social Security system than a pension from the state of Illinois.

As mentioned, seeing a fee-only financial counselor would be wise. You can find one at:

http://www.napfa.org/

The advantage of a fee-only counselor is that they don't want to sell you anything. They only give advice and guidance. They work for your best interest as opposed to the "normal" kind of financial counselors who want to sell you something and even though they have a fiduciary duty, they profit by you purchasing "products" from them.
OP
@vcponsardin avatar
UTC

Hooked
2009 GTS 250ie
Joined: UTC
Posts: 273
Location: Urbana-Champaign, IL, USA
 
Hooked
@vcponsardin avatar
2009 GTS 250ie
Joined: UTC
Posts: 273
Location: Urbana-Champaign, IL, USA
UTC quote
volosong wrote:
Just one thing to ponder and consider ...

You mention that one of your pensions is from the state of Illinois. They are in pretty dire straights financially due to their currently grossly under-funded statewide pension systems. It wouldn't be a surprise at all if they "modified" their "promises" to their retiree population. I think I'd have more faith in the federal Social Security system than a pension from the state of Illinois.

As mentioned, seeing a fee-only financial counselor would be wise. You can find one at:

http://www.napfa.org/

The advantage of a fee-only counselor is that they don't want to sell you anything. They only give advice and guidance. They work for your best interest as opposed to the "normal" kind of financial counselors who want to sell you something and even though they have a fiduciary duty, they profit by you purchasing "products" from them.
Thanks for the heads up. Indeed, the State of Illinois is in dire shape. We're all keeping our eyes on what the legislature will do this year to deal with the continuing recession. Presently, we're watching several bills, especially SB1297 (I think it is) that is working its way through the state house. It proposes some pretty drastic changes to the state retirement system, but only to new hires and people born after 1960. As far as I can discern, both Oregon and Illinois have proposed changes in their systems but none of these affect people who have been in the system over 20 years. This could change, of course. So I continue to keep my eyes pealed.
@chad avatar
UTC

Olivia Newton-John
p200, vbb, gt200, px150, vnb
Joined: UTC
Posts: 4494
Location: chippewa falls, wisconsin
 
Olivia Newton-John
@chad avatar
p200, vbb, gt200, px150, vnb
Joined: UTC
Posts: 4494
Location: chippewa falls, wisconsin
UTC quote
no, because in 2 or 3 years, most pension systems are going to implode. maybe sooner.

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