Just wondering how many readers have a plan to retire this year or are thinking about it.
Having retired two years ago I've never looked back or regretted my choice.
Just wondering how many readers have a plan to retire this year or are thinking about it.
Having retired two years ago I've never looked back or regretted my choice.
Within 5 years for me with a DB pension and 50/50 FI/EQ portfolio. How about you?
Within 5 years for me too with 37 years under my belt if I stay that long. I'm kind of afraid though because a friend of mine retired last June at the age of 65 and is now bored and in need of money. She's looking for work.
My husband's job will be terminated at the end of May. His intention is to collect the full year of severance and then about nine months of full E.I. (He calls it payback time since all his working years, he never once claimed E.I) We have an agreement that we would both make enough to cover our day to day expenses leaving our savings (investment only not including house) to grow to just over a million $ which I calculated will be about when we turn 50. At that point, we will start to prudently withdraw 3 percent annually, that with our rental income should serve us nicely, I hope. If not, back to work we go (should I say HE goes)
Last edited by piano mom; 2012-04-16 at 09:30 PM. Reason: error
Originally Posted by Maltese
One thing I did was get involved with hobbies I never had time for earlier this I did starting 5 years before retiring and I've not been bored. For some it takes many months to find things they like to do.
In year one I spent a fair bit of money but am now down to living within my pension.
In year one I thought about working parttime and quickly gave up on that idea after someone offered me a job.
After 40 years of work I just want to do what I want.
Dec 2013 was my date but now March 2014 as getting some stock options and it would be silly not to take advantage of that. Wife is now semi retired in that only going to do some contract work for a couple of years. Using this 24 months to settle things out while I still earn some money to fill up the money bag. Just 50K short of my number but want to have a 150-200k margin on that number.
It tends to take the first year to get the expenses lined up with income so having extra helps.
Actually I found retiring only meant switching activities. Sure the pay is less but you still get up in the morning. Everyone can figure out their financial picture, you live on what you have and probably the majority will do just fine. My thrill last year was to help a farmer combining for 6 weeks quite a change from the previous pharmacist work but enjoyable for sure. (No couldn't imagine buying a farm)!
been retired for almost 6 years with minimal regret. Never bored. i think only boring people are bored in retirement. Also, being well funded in retirement has made it more fun for us but this is not necessary. As long as you have a reasonable income level there are tons of great ways to use your time. It took me a while to adjust to my new life though and depending on the job you had, may be a concern for some.
I admit that I'm getting bored. (And I don't take insult at the "boring people" comment - It may be true.) I have a fair amount of activities I'm involved in - I'm a volunteer with a couple of worthwhile organizations, I kayak, cycle, ski, study French, and I'm starting to study Spanish. But my wife and everyone in my social group is still working. I can't quite put my finger on it, but there seems to be something about paid work that is very fulfilling. I took quite a low-level, temporary job for a couple of weeks and it actually felt quite good to get back into that groove again. There was even something extremely satisfying about seeing that little bit of money show up in my bank account, even though my portfolio often rises or falls by several times that amount on a daily basis.
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