At what age do you want to retire?

[kingsley88]

Im 69 now and working more or less full-time. I don't see any reason not to continue that for another 9-10 years.

Kudos to you! President Joe Biden is 78 years old and has 3.5 more years of work ahead of him so no reason to retire at your age unless there are other factors involved.

 

I have a friend who is in his mid-60s and have no plans to retire in the near future. He makes a great salary and has employees to do all the hard grunt work. Before the pandemic he mainly entertained clients for lunch and dinner and at times even took them to a ballgame or a Broadway show. Sure there is some level of stress but not that much that he wants to give this all up. From his perspective, it took him over 35 years to reach this level in his career and might as well enjoy it especially if it doesn't cause too much stress in his life.

[TruthBTold]

It has already happened due to slight unforeseen medical problems. There are a couple of things I would like to say about it. Rule 1 is always make your bed as soon as you get out of it otherwise you will crawl right back in and spend the rest of the day lounging (unless of course you have someone you desire in there with you and you are going to be performing acts that make staying in bed worth it.). Next, well before you are going to be receiving Medicare, research it and if possible talk to someone who knows the bare bones about it. If you are going to be getting a pension, generally there is someone who is associated with the pension that will help you. I would imagine that human relations departments at companies have a similar set-up. They probably can't give legal advice but can talk about how it is set up. Remember that Medicare is not free. You will be paying for the fund itself and then you will (if you are smart) sign up for a supplemental health insurance policy. The companies that you will be able to choose from for that policy will have a dizzying array of choices regarding out-of-pocket expenses and deductibles. I found that it was a great help to find someone you trust (or many individuals) and see what company they chose and why. Finally you will have to choose a company who will supply your drugs, if you are taking them. Each company available often have different amounts for every drug. Moreover for all this stuff it can change year to year so it becomes like one bad marriage after another. One can see why the single payer system has become more and more acceptable in general, among the young and old. Finally, work all this into the budget (realistic) you sit down and write for yourself to make sure you really can afford to retire. Also, I have found that you have to keep your mind and body tuned as much as you can or you will go crazy. Keep in touch with friends and family, work out when possible, and plan on volunteering for an organization(s) that you think can use your help. It help others a lot and makes you feel really good about yourself. Any way sorry for blathering but those were some short notes about things I found on my way to and just after I retired.

[Rudynate]

It has already happened due to slight unforeseen medical problems. There are a couple of things I would like to say about it. Rule 1 is always make your bed as soon as you get out of it otherwise you will crawl right back in and spend the rest of the day lounging (unless of course you have someone you desire in there with you and you are going to be performing acts that make staying in bed worth it.). Next, well before you are going to be receiving Medicare, research it and if possible talk to someone who knows the bare bones about it. If you are going to be getting a pension, generally there is someone who is associated with the pension that will help you. I would imagine that human relations departments at companies have a similar set-up. They probably can't give legal advice but can talk about how it is set up. Remember that Medicare is not free. You will be paying for the fund itself and then you will (if you are smart) sign up for a supplemental health insurance policy. The companies that you will be able to choose from for that policy will have a dizzying array of choices regarding out-of-pocket expenses and deductibles. I found that it was a great help to find someone you trust (or many individuals) and see what company they chose and why. Finally you will have to choose a company who will supply your drugs, if you are taking them. Each company available often have different amounts for every drug. Moreover for all this stuff it can change year to year so it becomes like one bad marriage after another. One can see why the single payer system has become more and more acceptable in general, among the young and old. Finally, work all this into the budget (realistic) you sit down and write for yourself to make sure you really can afford to retire. Also, I have found that you have to keep your mind and body tuned as much as you can or you will go crazy. Keep in touch with friends and family, work out when possible, and plan on volunteering for an organization(s) that you think can use your help. It help others a lot and makes you feel really good about yourself. Any way sorry for blathering but those were some short notes about things I found on my way to and just after I retired.

 

 

I loathe medicare. I checked to see if I could go back to regular coverage. Everyone I talked to said that once you're on Medicare, there's no going back.

[+ Lucky]

I wanted to retire at age 65, but life happened and I didn't make that date.

[+ Lucky]

I loathe medicare. I checked to see if I could go back to regular coverage. Everyone I talked to said that once you're on Medicare, there's no going back.

What's wrong with Medicare? It lets me see the doctors I want to see, keeps my prescriptions cheap, and never hassles me. I have a Medicare Advantage plan that even pays my gym membership.

[+ WilliamM]

It has already happened due to slight unforeseen medical problems. There are a couple of things I would like to say about it. Rule 1 is always make your bed as soon as you get out of it otherwise you will crawl right back in and spend the rest of the day lounging (unless of course you have someone you desire in there with you and you are going to be performing acts that make staying in bed worth it.). Next, well before you are going to be receiving Medicare, research it and if possible talk to someone who knows the bare bones about it. If you are going to be getting a pension, generally there is someone who is associated with the pension that will help you. I would imagine that human relations departments at companies have a similar set-up. They probably can't give legal advice but can talk about how it is set up. Remember that Medicare is not free. You will be paying for the fund itself and then you will (if you are smart) sign up for a supplemental health insurance policy. The companies that you will be able to choose from for that policy will have a dizzying array of choices regarding out-of-pocket expenses and deductibles. I found that it was a great help to find someone you trust (or many individuals) and see what company they chose and why. Finally you will have to choose a company who will supply your drugs, if you are taking them. Each company available often have different amounts for every drug. Moreover for all this stuff it can change year to year so it becomes like one bad marriage after another. One can see why the single payer system has become more and more acceptable in general, among the young and old. Finally, work all this into the budget (realistic) you sit down and write for yourself to make sure you really can afford to retire. Also, I have found that you have to keep your mind and body tuned as much as you can or you will go crazy. Keep in touch with friends and family, work out when possible, and plan on volunteering for an organization(s) that you think can use your help. It help others a lot and makes you feel really good about yourself. Any way sorry for blathering but those were some short notes about things I found on my way to and just after I retired.

I am auditing college courses at the University of Pennsylvania, and have never been bored. I audit but do all the reading and therefore can talk to the students beyond pleasantries

Edited May 3, 2021 by WilliamM

[Rudynate]

What's wrong with Medicare? It lets me see the doctors I want to see, keeps my prescriptions cheap, and never hassles me. I have a Medicare Advantage plan that even pays my gym membership.

 

 

I might not loathe it quite so much if my part B/D premium weren't so high. As it is, I'm paying 60-70% of what I was paying before for full-platinum coverage.

[marylander1940]

I retired at 72 but I still occasionally assist the family businesses. Funny because I was kicked out of them for being gay in my 20s and after proving myself successful in the real world I was asked for advice and welcome back.

 

Btw I posted that on the thread that "gave birth/developed" into this one!

 

If any yinz are curious just click in the arrow and you'll see it.

[Liam]

Btw I posted that on the thread that "gave birth/developed" into this one!

 

If any yinz are curious just click in the arrow and you'll see it.

 

Did this not happen?

 

https://www.companyofmen.org/threads/moving-to-montevideo-uruguay-in-2020.141947/

[marylander1940]

Did this not happen?

 

https://www.companyofmen.org/threads/moving-to-montevideo-uruguay-in-2020.141947/

 

Have you heard about Covid-19?

 

I'll keep you posted @Larstrup A.K.A. @Liam

[MikeBiDude]

I have a Medicare Advantage plan that even pays my gym membership.

I just discovered a free gym membership with my AARP Medicare supplemental plan.

 

I might not loathe it quite so much if my part B/D premium weren't so high. As it is, I'm paying 60-70% of what I was paying before for full-platinum coverage.

Is this because your current income requires you pay extra IRMA dollars?

[marylander1940]

I just discovered a free gym membership with my AARP Medicare supplemental plan.

 

 

Is this because your current income requires you pay extra IRMA dollars?

 

I always wanted gym membership to be tax deductible as long as the person actually shows up at the gym

[BtmBearDad]

Personally, I don’t understand people who continue to work well past retirement. Unless there’s a financial necessity, I can’t see a reason to continue working if you don’t have to. If you need something to fill your days, there are plenty of volunteer opportunities.

 

I know in corporate settings, it can be painful dealing with someone in their 70’s who is not open to change/innovation, and in fairness, is usually just not up to it anymore.

 

Just look at our politicians - 30% of the population is 55+, yet 70% of congress is 55+ -and half of them are over 65. There is no reason beyond the power of incumbency for having politicians (I’m including judges) in their 70’s, 80’s, 90’s holding office. Same for the private sector.

 

As for me - I had planned to be retired at 52, but the two years before Covid, and the year and a half with Covid, saw a lot of deaths, medical issues, family issues that had to be sorted/are being sorted. My new goal retirement age is 55 - about 4 years away. If I could go now, or earlier, believe me I will. Life is too hard, and too short as it is, why spend anymore time than is necessary working?

[kingsley88]

Personally, I don’t understand people who continue to work well past retirement. Unless there’s a financial necessity, I can’t see a reason to continue working if you don’t have to. If you need something to fill your days, there are plenty of volunteer opportunities.

 

I know in corporate settings, it can be painful dealing with someone in their 70’s who is not open to change/innovation, and in fairness, is usually just not up to it anymore.

 

Just look at our politicians - 30% of the population is 55+, yet 70% of congress is 55+ -and half of them are over 65. There is no reason beyond the power of incumbency for having politicians (I’m including judges) in their 70’s, 80’s, 90’s holding office. Same for the private sector.

 

As for me - I had planned to be retired at 52, but the two years before Covid, and the year and a half with Covid, saw a lot of deaths, medical issues, family issues that had to be sorted/are being sorted. My new goal retirement age is 55 - about 4 years away. If I could go now, or earlier, believe me I will. Life is too hard, and too short as it is, why spend anymore time than is necessary working?

 

 

I think some people like the power/influence they may have at work and simply don't want to let it go after years of hard work to get there.... it's to the point he/she may have identity issues after retiring.

[MxB]

I very much liked my job, but had significant health issues. My dad died young (age 53,) and never had a retirement

My mother and two close friends of mine died at age 53. That taught me to have a good time along the way.

 

I should be able to retire comfortably around 66 to 68. If I didn't do some of the things I'd done, it might have been sooner, but I've had a blast doing things that made me happy....for example, graduating from one nice car to two nice cars to three.

[+ Charlie]

Although I was happy to retire from a fulltime job at 59, I had spent years developing certain professional skills that I enjoyed practicing, so I turned them into a consulting job rather than let them go to waste, and kept on working till I was 75, when I finally felt tired enough not to want to work at staying mentally acute any longer.

[Rudynate]

This is me. My work is very cerebral and I worked hard to acquire the skills I have. I never tire of pulling rabbits out of hats for clients. I think ill be ready to hang it up and smell the roses in 9 or 10 years.