retire sooner or just work less? Update post 187

[Rukh O'Rorke]

Mar 15, 2023 15:43:19 GMT -5 debthaven said:

I am LOVING being retired, even if I'm still working 3 days/week LOL.

I've been going in 2 (shorter) days/week, and WFH on Zoom 1 day/week. I'm planning to do the same next fall semester. And then we'll see.   

It's also fabulous to be getting a modest pension AND earning a modest salary! (Part of the reason I plan to work through 2023 is that we are replacing our windows this spring.)

How are you others doing in terms of retirement? Empire the P.A. , plugginaway22 , resolution , Happy prose , The Walk of the Penguin Mich (re TD) , Rukh O'Rorke ? (Sorry if I've forgotten any others who have recently retired or who plan to retire soon.)

PS DH has basically recovered from his knee replacement surgery. He's retiring on May 1, but he'll still work PT (from home). 

so happy for you!!! And your DH! cool you will both be PT for a bit to ease in.

I'll be waiting a bit.....possibly for the next bull run on the stock market .

SP500 down nearly 5% this month.....been seesawing up and down, tired of watching it really, lol! without a pension and years out from social security, I have to rely on stock investments. Been saving some in ibonds and treasuries, but will take a while to build that up.

I'm relatively content with that. Work pressures have eased up considerably, thank goodness, so it isn't as much a pain as it could have been!

[plugginaway22]

I LOVE not working! It has been about a year and a half. DH retired a few months after I did and of course it was timed exactly when the markets started to decline. Watching our net worth go down a bit has not been fun. So far we haven't needed any of the invested money and thankfully we have low expenses.

On the non financial side of things, living together 24/7 after both working FT salaried positions outside the home has been a bit of an adjustment. We both have our separate activities but it was still a lot of togetherness at first!

We have always been very compatible while traveling and are currently on an extended trip together. We are loving being away with absolutely no worries of what we could be going back to if still working.

Highly recommend retirement!

[Rukh O'Rorke]

LOL - looks like I am the only wet blanket here! Hopefully I am the youngest of the crowd , I'm 58? 58 nearly at the .5 mark.....

[Happy prose]

Mar 16, 2023 11:33:38 GMT -5 Rukh O'Rorke said:

LOL - looks like I am the only wet blanket here! Hopefully I am the youngest of the crowd , I'm 58? 58 nearly at the .5 mark.....

63.5, but I also have a pension. 

[resolution]

I am probably waiting a bit as well. I will have my 30 years in the pension plan on June 1, but I still haven't put together a solid plan for what I would do with myself.  My husband isn't close to retiring, which is another thing that might be weird if I were to retire, but I know that will happen eventually.  We are also still throwing ridiculous amounts of money into home renovations.

I have been debating creating a thread for my potential retirement budget, since people have been asking for a stubborn train wreck that won't listen to advice. Maybe this weekend.

[Rukh O'Rorke]

Mar 16, 2023 18:44:25 GMT -5 resolution said:

I am probably waiting a bit as well. I will have my 30 years in the pension plan on June 1, but I still haven't put together a solid plan for what I would do with myself.  My husband isn't close to retiring, which is another thing that might be weird if I were to retire, but I know that will happen eventually.  We are also still throwing ridiculous amounts of money into home renovations.

I have been debating creating a thread for my potential retirement budget, since people have been asking for a stubborn train wreck that won't listen to advice. Maybe this weekend.

The interwebs be like that some time.....

[tallguy]

Mar 16, 2023 11:33:38 GMT -5 Rukh O'Rorke said:

LOL - looks like I am the only wet blanket here! Hopefully I am the youngest of the crowd , I'm 58? 58 nearly at the .5 mark.....

So..., already older than I was at retirement....  What are you waiting for?     

[laterbloomer]

Mar 16, 2023 11:33:38 GMT -5 Rukh O'Rorke said:

LOL - looks like I am the only wet blanket here! Hopefully I am the youngest of the crowd , I'm 58? 58 nearly at the .5 mark.....

57.5 here and not retiring until at least 65. Financially I can't but my current job makes it so I don't mind. I work from home, camp in the summer. Lots of vacation and flex time, love what I do, good company culture..totally changed my feelings about working. Now I'm even considering working past 65.

[Rukh O'Rorke]

Mar 17, 2023 14:34:30 GMT -5 tallguy said:

Mar 16, 2023 11:33:38 GMT -5 Rukh O'Rorke said:

LOL - looks like I am the only wet blanket here! Hopefully I am the youngest of the crowd , I'm 58? 58 nearly at the .5 mark.....

So..., already older than I was at retirement....  What are you waiting for?     

2.5 million, give or take.

[stillmovingforward]

I'm like laterbloomer. Love my job, the people, the benefits and the money. I'll be here until full retirement age. If nothing gets me first.

[debthaven]

On the non financial side of things, living together 24/7 after both working FT salaried positions outside the home has been a bit of an adjustment. We both have our separate activities but it was still a lot of togetherness at first!

Interesting point plugginaway22 ! DH started WFH in late 2018 when he and his partner closed their company. We got used to being home together 24/7 during Covid. Like you, our kids are grown and we have enough space. So I don't think it'll be a big adjustment, but I may be overly optimistic LOL. 

Friday has always been our "at home" day. We generally avoid making plans with other people on Fridays (sometimes it can't be helped, obviously). Now we're generally both home on Mondays too. 

We both "do our own thing" from Monday through Thursday (unless we're travelling). For me that means working from Tuesday through Thursday. 

If it's not too personal, what activities have y'all picked up in retirement/semi-retirement? 

Empire the P.A. said she cooks and bakes more. Has anybody else taken up a new hobby, or gone back to an old one? 

[TheOtherMe]

My mom said during the first year of retirement was the only time she ever considered divorce.  

They figured it out and were married until she died.

[Bonny]

Mar 20, 2023 19:07:50 GMT -5 TheOtherMe said:

My mom said during the first year of retirement was the only time she ever considered divorce.  

They figured it out and were married until she died.

Oh yeah. I'll never forget how DH would follow me around and tell me how to do things "better". My favorite was telling me how to load the dishwasher...a job I've been doing since I was 8. 

[jerseygirl]

Mar 21, 2023 12:37:01 GMT -5 Bonny said:

Mar 20, 2023 19:07:50 GMT -5 TheOtherMe said:

My mom said during the first year of retirement was the only time she ever considered divorce.  

They figured it out and were married until she died.

Oh yeah. I'll never forget how DH would follow me around and tell me how to do things "better". My favorite was telling me how to load the dishwasher...a job I've been doing since I was 8. 

Just tell him he can take over that job (and any others he complains about)
I had a baby and an almost 2 year old and husband complained about how I did his laundry. He’s been doing his own ever since - a looong time!

[giramomma]

Mar 20, 2023 18:04:13 GMT -5 debthaven said:

On the non financial side of things, living together 24/7 after both working FT salaried positions outside the home has been a bit of an adjustment. We both have our separate activities but it was still a lot of togetherness at first!

Interesting point plugginaway22 ! DH started WFH in late 2018 when he and his partner closed their company. We got used to being home together 24/7 during Covid. Like you, our kids are grown and we have enough space. So I don't think it'll be a big adjustment, but I may be overly optimistic LOL. 

Friday has always been our "at home" day. We generally avoid making plans with other people on Fridays (sometimes it can't be helped, obviously). Now we're generally both home on Mondays too. 

We both "do our own thing" from Monday through Thursday (unless we're travelling). For me that means working from Tuesday through Thursday. 

If it's not too personal, what activities have y'all picked up in retirement/semi-retirement? 

Empire the P.A. said she cooks and bakes more. Has anybody else taken up a new hobby, or gone back to an old one? 

I'm not retired yet. The plan for me is to be as crafty as possible.  Also know, I have my limits. I knit and crochet mostly for charity. I have a ton of quilting and wool applique projects, and there's cross stitch and hardanger embroidery.

I would like to have a beautiful yard someday.

I would also like to volunteer in ways that are meaningful to me: pregnancy crisis center, food banks, and working with kids either in the public schools or what not.

That said, I have also decided that I am not waiting until I retire anymore to do these things. I can't do it all, but I can start adding some of these into my life to make me happier.

[wvugurl26]

FIL had to sit out six months when he retired as a federal employee. He nearly did not survive. I hear he was trying to tell MIL how to better arrange her kitchen. The man can barely boil water to make a cup of tea.

[plugginaway22]

I am a bit of an introvert. Very content to hang out at home and cook, garden, read. Every evening DH would ask " what's on the agenda for tomorrow? ". DUDE...we retired and there is NO agenda! He gets antsy if there's nothing scheduled. Now he golfs regularly and has taken on some of the grocery shopping and errand running since he loves getting out and about. We have adjusted but there are still moments, haha. I see my elderly mother regularly and have 3 young grandchildren. We have plenty to keep us busy.

[movingforward]

I know way too many people that have lost their health in their 60's. All the things they planned to do when they retired is not happening.

I like my job but honestly can't imagine working more than another 6-8 years at the most (I turn 50 next week - yikes!). My hope is to fit in some of my big trips in the next few years while still working but there are some things I want to do that require more time than just taking a couple of weeks off here or there.

My body is definitely not what it used to be either. Two weeks ago I attended a conference and they had a band the final night. I was dancing and some how pulled a muscle in my hip . I hope to still be able to do things like cruises well into my 70's but know there are bucket list things that need to be accomplished relatively soon.

Sometimes I think once I meet my financial goal and the pressure is off that I might actually decide to keep working a little longer. Then I can say things like "yeah, I'm not going to be able to make that meeting" or "No, I'll be in Italy next week but you all have fun with all that 'bonding' at the board retreat." LOL! It's not unusual for people in my position to give a year or even two notice so often people spend the final year just coasting along while the new person gets broken in. If I could collect another year salary while sort of picking and choosing my participation level, I might would work a little longer.

As for general activities, I would like to join a bowling league (I used to be part of one in my 20's but work is just too hectic now). I wouldn't mind a weekly card game with some folks either. I love to read, do yoga and go to the gym. Just meeting friends for leisurely lunches a couple of times a week sounds great too. I also enjoy hiking.  I think I could keep myself fairly busy and happy if I retired early. If not, then I would probably just go work part-time at a bookstore or something.

Of course the big issue is also healthcare. I think I'll be able to afford it for several years prior to being eligible for medicare but who knows...

[debthaven]

I'm enjoying reading about your various activities! I haven't done much with my extra day off but part of that is because of DH's operation in January. And it's true, there isn't all that much difference between working 4 days/week and working 3 (but only 2 days at school ).

I just started taking music lessons every other week.

I'm a night owl and I hate getting up early. I guess I've become pretty lazy LOL. 

I plan to continue through fall semester (mainly because of the windows). So (like this semester) I'll go into school two days/week and work remotely 1 day/week.

Then I'll probably be done with regular classes. I'll continue the professor/admin classes. That's about 8h/week, but I can do those on Zoom.

 

[finnime]

That's a wonderful plan to seque into retirement, debthaven. And you won't be affected at all by the change in retirement age in France.

[minnesotapaintlady]

Mar 22, 2023 11:57:24 GMT -5 movingforward said:

Of course the big issue is also healthcare. I think I'll be able to afford it for several years prior to being eligible for medicare but who knows...

Have you played around on the ACA site?  Keeping income low to qualify for subsidies is a popular plan for early retirees. 

[movingforward]

Mar 25, 2023 22:17:50 GMT -5 minnesotapaintlady said:

Mar 22, 2023 11:57:24 GMT -5 movingforward said:

Of course the big issue is also healthcare. I think I'll be able to afford it for several years prior to being eligible for medicare but who knows...

Have you played around on the ACA site?  Keeping income low to qualify for subsidies is a popular plan for early retirees. 

I have not looked at the website but this thought has entered my mind.

[Spellbound454]

I thought they wanted to up the pension age in France to 64 ..... that's what all the rioting is about.

I've got some more years yet but its getting harder..... don't seem to have the stamina I used to have.

Would love to put my feet up and call it a day ... or do something a bit quieter.

[minnesotapaintlady]

Mar 26, 2023 11:50:02 GMT -5 Spellbound454 said:

I thought they wanted to up the pension age in France to 64 ..... that's what all the rioting is about.

I've got some more years yet but its getting harder..... don't seem to have the stamina I used to have.

Would love to put my feet up and call it a day ... or do something a bit quieter.

by 2030...via raising it 4 months a year until then.

They're not just going to tell people that are already retired that they have to go back to work for 2 years. 

[debthaven]

I thought they wanted to up the pension age in France to 64 ..... that's what all the rioting is about.

Spellbound454 I retired at 63, and until last week the minimum age was 62. minnesotapaintlady is right, that's how it works now. 

[debthaven]

I was offered a new job today!!! I said thanks, but no thanks. But I found it funny!

I'm doing the same number of hours next semester as I did this one, ie 15h/week tops: 2 days at school (1 day at each), plus 1 day WFH. And no more 6 am alarms. 

I'm still reluctant to "cut the cord", because once I do, I can't go back. Plus I owe DS2 7K euros for the work in the house. I would have borrowed it from the bank, but DS2 insisted, and I accepted. (We had 52K euros of work done, so 7K isn't much, but it still bugs me.)

I'm committed to teaching in Fall 2023. I'm undecided on Spring 2024. I have till Nov to decide. (*IF* I do, I'll reduce my hours further). 

So I'll be done with regular classes in either Dec 2023, or April 2024. I'll keep my faculty/staff Zoom classes. I have 8 people, I'm hoping for 1 or 2 more in September.  

How are you all doing with your retirement and/or retirement plans?!

[Rukh O'Rorke]

Jun 28, 2023 14:51:26 GMT -5 debthaven said:

I was offered a new job today!!! I said thanks, but no thanks. But I found it funny!

I'm doing the same number of hours next semester as I did this one, ie 15h/week tops: 2 days at school (1 day at each), plus 1 day WFH. And no more 6 am alarms. 

I'm still reluctant to "cut the cord", because once I do, I can't go back. Plus I owe DS2 7K euros for the work in the house. I would have borrowed it from the bank, but DS2 insisted, and I accepted. (We had 52K euros of work done, so 7K isn't much, but it still bugs me.)

I'm committed to teaching in Fall 2023. I'm undecided on Spring 2024. I have till Nov to decide. (*IF* I do, I'll reduce my hours further). 

So I'll be done with regular classes in either Dec 2023, or April 2024. I'll keep my faculty/staff Zoom classes. I have 8 people, I'm hoping for 1 or 2 more in September.  

How are you all doing with your retirement and/or retirement plans?!

funny you should ask

I'm having a crisis of faith.....do I really need to keep saving? maxing out the 401k, etc......seems like I just need to let the asset pile go about about 20-30%, and I'm done. Is saving anymore going to make a huge difference in when I can quit?

Math says not.....so why do I keep doing it?

[giramomma]

Jun 28, 2023 14:51:26 GMT -5 debthaven said:

How are you all doing with your retirement and/or retirement plans?!

Counting down the years until I can start the retirement slide. Or maybe I've already started.

I joke that when I started working, I sounded like a prisoner when I referred to how much time I had "in the system" (ie, how long I've paid into the pension system). I'm back to that, when I recount how many years I have left.

With so much up in the air, I refuse to plan anymore. I did the work when I was younger so I have options now and in the future. That makes me happy enough.

[debthaven]

You see Rukh O'Rorke , it's not that easy to stop completely lol.

[minnesotapaintlady]

Jun 28, 2023 21:31:39 GMT -5 Rukh O'Rorke said:

Jun 28, 2023 14:51:26 GMT -5 debthaven said:

I was offered a new job today!!! I said thanks, but no thanks. But I found it funny!

I'm doing the same number of hours next semester as I did this one, ie 15h/week tops: 2 days at school (1 day at each), plus 1 day WFH. And no more 6 am alarms. 

I'm still reluctant to "cut the cord", because once I do, I can't go back. Plus I owe DS2 7K euros for the work in the house. I would have borrowed it from the bank, but DS2 insisted, and I accepted. (We had 52K euros of work done, so 7K isn't much, but it still bugs me.)

I'm committed to teaching in Fall 2023. I'm undecided on Spring 2024. I have till Nov to decide. (*IF* I do, I'll reduce my hours further). 

So I'll be done with regular classes in either Dec 2023, or April 2024. I'll keep my faculty/staff Zoom classes. I have 8 people, I'm hoping for 1 or 2 more in September.  

How are you all doing with your retirement and/or retirement plans?!

funny you should ask

I'm having a crisis of faith.....do I really need to keep saving? maxing out the 401k, etc......seems like I just need to let the asset pile go about about 20-30%, and I'm done. Is saving anymore going to make a huge difference in when I can quit?

Math says not.....so why do I keep doing it?

That's where I'm at.  I would HAPPILY scale way back on savings and coast in the rest of the way if it wasn't for those damn tax credits. Not that I don't totally appreciate them, it's just really hard to turn down a 30% kickback on savings, and since I still have many years filing HOH I don't see anything changing before I retire in that department.