marlena Posted March 10, 2008 Share Posted March 10, 2008 Good luck curm! Don't move too far away!!! Bad advice:) !!!! Move far,far away... say, Europe! It's actually quite nice over here. Link to post Share on other sites
JosieMcCoy Posted March 10, 2008 Share Posted March 10, 2008 Bad advice:) !!!! Move far,far away... say, Europe! It's actually quite nice over here. There are good places in both places!!! Europe is over 100 countries, right? Which ones should he consider? And which ones should he avoid? Link to post Share on other sites
marlena Posted March 10, 2008 Share Posted March 10, 2008 Which ones should he consider? And which ones should he avoid? Where I live of course!!!:D:D Link to post Share on other sites
Author Curmudgeon Posted March 11, 2008 Author Share Posted March 11, 2008 The idea of pension at least where I live : My boss has worked 35 years here and will be retiring in 8 years ( he will then be about 62 ) . He was told he takes a lump sum $ 50,000 and only gets $ 500 a month, I felt thats a pretty big cut . If he opts for no lump sum and takes it each month he gets around $ 900 a month . So as far as those who wait until they are 70 something , they don't have that much time left so people should retire earlier Even after losing half my retirement in the divorce from the ex (which would have been cheap at twice the price), I'll still retire at about 45% of my highest year's salary. Since my taxes will be lower and they won't be taking out for retirement, Social Security, Medicare, etc. It will come out to about 51% of my net income while working. Add Social Security, which I'll start immediately, and my true net income will be about 79% of current. Add my wife's pension and out net household income the first year will be approximately 83% of current net. The following year it will jump to approximately 93% of current net income because my wife will begin drawing her Social Security. Thankfully, we both will have lifetime medical and dental coverage and full prescription benefits as well with very low copays ($5-15). I really feel bad for those who have worked all their lives and will either receive a pittance in retirement or none at all and become reliant on Social Security, especially since the average payment is around $800. Same with having to rely solely on Medicare or having to get Medicaid as well. This country does not take care of its seniors! Given all the above, actuarily it behooves me to retire earlier than originally planned, even if it is only by a year, but what a difference it makes. By the way, I planned none of this far in advance If I'd tried to do so I'd have screwed it up! Link to post Share on other sites
vintagecat Posted March 12, 2008 Share Posted March 12, 2008 Jump in. The water is fine. I took the early retirement option at age 48 last year and have never looked back. I wonder how I had time to work full time. Good luck. Life is short. Cat Link to post Share on other sites
Nevermind Posted March 12, 2008 Share Posted March 12, 2008 Congratulations, Curmudgeon. I am sure you'll be having a great time! A lion king needs time to roar. Link to post Share on other sites
lovingheart Posted March 17, 2008 Share Posted March 17, 2008 Or at least earlier than planned. Having lost half my retirement funds, and everything else, in divorce 14 years ago I figured I'd have to wait until at least age 64 to pull the plug. Now I'm going out at 63 instead. That may not sound like a big difference but at age 61½, it's significant. It occurred to me (perhaps a treasured pet's unfortunate/untimely demise last week helped) that I am burned out and more than ready to retire. I've also mentally put it off until age 64 out of a sense of obligation to ensure that my wife will be well taken care of if I pre-deceased her, which is likely. You have to decide what's best for you. Because you have retired from your job it doesn't mean you have retired from life. It seems like you need a change and something to look forward to. I have heard of so many people who have had a 'sea change', 'tree change' or even just a change of pace and have felt rejuvenated. I know of some people who were retired for a few years and then decided to try a different life of work (or even part time work) just to keep up their interest (and their funds). Link to post Share on other sites
Author Curmudgeon Posted March 17, 2008 Author Share Posted March 17, 2008 You have to decide what's best for you. Because you have retired from your job it doesn't mean you have retired from life. It seems like you need a change and something to look forward to. I have heard of so many people who have had a 'sea change', 'tree change' or even just a change of pace and have felt rejuvenated. I know of some people who were retired for a few years and then decided to try a different life of work (or even part time work) just to keep up their interest (and their funds). I'm certainly open to any and all possibilities. Sometimes a change really is as good as a rest and I could use one. Actually, just making the decision has been rejuvenating to a certain degree. The fewer days of work I have ahead of me the better I feel! Timing certainly is everything. My former boss of 10 years is retiring at the end of this month. That was one of the reasons I promoted and moved to a different area within our department. Now my new boss has just announced that she's accepted a promotion and is going to another department at the end of the month, just four months after I joined her. Everything and everyone seems to be in a state of flux. Add to all of this that my wife has just completed detox and is going into a residential treatment/rehab facility for up to 90 days and the world is spinning around me while I just shake my head in wonderment. If it's nothing else, life is an adventure! Link to post Share on other sites
OldEurope Posted March 17, 2008 Share Posted March 17, 2008 Bad advice:) !!!! Move far,far away... say, Europe! It's actually quite nice over here. It is especially nice where she is because Marlena goes out every night to hear great Greek music, dance on the tables, handsome Meditteranean men all around her... Of course, Italy has its advantages too..... But the euro is killing my wee dollars. Stay in your West Coast or whichever coast it is log cabin for now Curm, and ride out the storm! ....Or I introduce you to the dolce vita.... Link to post Share on other sites
Author Curmudgeon Posted March 17, 2008 Author Share Posted March 17, 2008 ....Or I introduce you to the dolce vita.... An introduction like that would just make retirement all the better, or was that a threat? If so, wouldn't it be a bit like killing me with kindness? Old Europe and la dolce vita. The thing dreams are made of! Link to post Share on other sites
whichwayisup Posted March 18, 2008 Share Posted March 18, 2008 Cur, congrats buddy! If you want to clean and cook, we have a spare room for you at our house! hehe..Oh and pack a shovel as the snow will still be falling come April. Link to post Share on other sites
Gunny376 Posted March 18, 2008 Share Posted March 18, 2008 Congratulations, Curmudgeon Its as I was talking with a co-worker a while back. As people move up the food chain, make more money, their debt load rachett's up, they move from a smaller house, but larger mortgage and house payment. Where as before a Toyota was fine ~ now they've got to have a Lexus? When you retire? You'll be surprised how easy it is to rachett down? Even though your income will be decreasing by 17%? So will your clothing cost (jeans and T-shirts), transportation costs (gas and oil, wear and tears on your car, car maintenance) out of day to day out of pocket expeses, (lunch, that cup of cofffee at the corner store, snacks etc.) not to mention others. Link to post Share on other sites
Author Curmudgeon Posted March 18, 2008 Author Share Posted March 18, 2008 If you want to clean and cook, we have a spare room for you at our house! hehe..Oh and pack a shovel as the snow will still be falling come April. Some place to land! I'll be sure to reserve in advance! Link to post Share on other sites
Author Curmudgeon Posted March 18, 2008 Author Share Posted March 18, 2008 When you retire? You'll be surprised how easy it is to rachett down? Even though your income will be decreasing by 17%? So will your clothing cost (jeans and T-shirts), transportation costs (gas and oil, wear and tears on your car, car maintenance) out of day to day out of pocket expeses, (lunch, that cup of cofffee at the corner store, snacks etc.) not to mention others. I'm quite sure I can get used to the "easy" and simple life in short order. The first thing to go is a large collection of relatively expensive silk ties. No more affixing a noose around my neck five days a week. HOOYAH! :bunny: Link to post Share on other sites
Gunny376 Posted March 18, 2008 Share Posted March 18, 2008 I'm quite sure I can get used to the "easy" and simple life in short order. The first thing to go is a large collection of relatively expensive silk ties. No more affixing a noose around my neck five days a week. HOOYAH! :bunny: LOL! I hear you Col. Trouble is? When I retired from the Corps? And once I gave up drinking, gambling, smoking, and women ~ I found that I did have any reason to work? Link to post Share on other sites
Author Curmudgeon Posted March 19, 2008 Author Share Posted March 19, 2008 Trouble is? When I retired from the Corps? And once I gave up drinking, gambling, smoking, and women ~ I found that I did have any reason to work? Giving up all my bad habits just might give me nothing to look forward to as well as no reason to work. I've never gambled, gave up smoking and drinking and have confined myself to one woman. Now tell me again why I'm going to work five days a week. Link to post Share on other sites
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