The psychology of retiring - Page 2
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Thread: The psychology of retiring

  1. #11
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    My old man wanted to retire in 2 years. He was financially ready to retire at any given moment. He took a month off work this past year, because he could. He loved it so much that when he returned he put his two weeks notice in before his 57th Birthday. Freedom 56.

    Enjoy retirement now if you can. If it requires a penalty to draw pension -- take the penalty and retire as you can die at any moment. Enjoy -- this is a good problem to have.


  2. #12
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    Quote Originally Posted by pwm View Post
    I worked at "MegaCorp" in a cubicle farm for 35 years and cannot even comprehend how someone would want to keep working one single day longer than they had to. I quit at 55 which was 12 years ago. Every day I wake up feeling blessed that I no longer have to drag myself in there. My advice is just finish up on a cordial basis and move on. Consider your career as a closed file. Your work place will have forgotten you faster than you can imagine.
    I think a lot depends on the workplace. Where I work, many people work after they have already earned a full pension. And many others, retire with the full pension, and then return to work a few months later, and work for many more years while collecting their pension.

  3. #13
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    Today I woke up at 7:30, made a coffee and have been stressing about about whether to buy the Orvis flyrod or save money and go with Scientific Anglers rod.

    "FISH ON!"

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  5. #14
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    None of this appears to be really relevant to the OP. ISTM Tom is wrestling with staying to the end of his contract now that his body and mind has now made the decision to retire. How and what does he do....to go from now (decision to retire) to actual retirement date. I repeat what I said originally... If he is really counting the days and weeks to get to the endpoint (marking them off the calendar so to speak), find a way to move up the retirement date. Life is too short to suffer through 8 months of clock watching. OTOH, if he can find a way to enjoy these 8 months at work....then the solution to the problem will have been found.

  6. #15
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    Quote Originally Posted by CalgaryPotato View Post
    I think a lot depends on the workplace ...
    Depends on workplace, the people involved, any leverage etc.

    I can recall articles about retired IBM folk who were bored in retirement that did not want to work full time. IBM came calling with flexible working arrangements that would not have been offered during their career. Management came to understand that the software wasn't being taught anymore by schools plus newer employees were more likely to quit than learn what to them was old/archaic crap that was in their view, career limiting.


    Like so many things ... YMMV.


    Cheers

  7. #16
    Senior Member GreatLaker's Avatar
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    I don't understand people that say they cannot retire because they don't have 35 years or 85 points in a DB plan so they will not get a full pension. To me that's asking the wrong question. They should be asking if they have enough to retire on, given a good understanding of projected retirement expenses and a conservative assessment of expected investment returns plus a reasonable safety factor. But most of them probably have never run the numbers or even thought about it much, so they feel if they have a full pension it will be enough to retire on.

    It's like being in a restaurant and refusing to stop eating until you have finished everything on your plate even though you are stuffed, don't need the excess calories and will feel awful.
    Eschew obfuscation. Espouse elucidation

  8. #17
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    Quote Originally Posted by TomB19 View Post
    .... Others must have been through this. I would appreciate some advice on managing this ...
    How did you hang on?
    Not me personally ... but some of the strategies I have seen are:

    a) mark a calendar so one can see the X's making one closer and closer to retirement (it was a visual type person).
    b) talking to the contract holder to see if there were ways of shortening the contract that the other party was happy with.
    c) bringing in a person for "training purposes" then when the other party was confident it the ability of the "trainee", pitch them as a replacement.


    That's all I can recall ... I'll add more if I remember anything.


    Cheers

  9. #18
    Senior Member kcowan's Avatar
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    I retired from 3 companies. Each had its own issues. But in the last one where I was CEO was a 5 year contract that ended June 30th. The Board and CFO knew about it but the rest of the team demanded a transition period. So for 6 weeks, I had to put in the time. So I understand your feelings. But it will be over before you know it!

  10. #19
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    Quote Originally Posted by AltaRed View Post
    None of this appears to be really relevant to the OP. ISTM Tom is wrestling with staying to the end of his contract now that his body and mind has now made the decision to retire. How and what does he do....to go from now (decision to retire) to actual retirement date. I repeat what I said originally... If he is really counting the days and weeks to get to the endpoint (marking them off the calendar so to speak), find a way to move up the retirement date. Life is too short to suffer through 8 months of clock watching. OTOH, if he can find a way to enjoy these 8 months at work....then the solution to the problem will have been found.
    True, I don't really know what to add for Tom. He doesn't seem like the type of person who is going to have any struggles with retirement. He has a very full life and will doesn't seem like he'll miss the day to day grind of things. Also by the sounds of it, he'll still be maintaining many of his rentals for at least some period which is also a form of work.

    I think there are many others who retire with absolutely no sense of what their life will be in retirement who can struggle, but that isn't he case here....

  11. #20
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    Quote Originally Posted by frase View Post
    I had a great job as a CEO and made good money and did a merger in 2001 at the age of 55 and the deal was that I would be the only one losing their job. While I had been discussing the matter in confidence when my wife she just about fell off her chair when I told her it was going to happen.

    Her first words were "what are you going to?" with obvious panic in her voice. I think she was concerned that I would be under her feet all the time and would cramp her style ...
    Potentially a valid concern.

    My dad figured he was indispensable so that there would be some "how do we handle this?" calls once he retired. When they didn't happen, he started trying to improve how my mom was handling the cooking in the kitchen. She had to tell him "I have been doing this for forty plus years ... go do something else".


    Quote Originally Posted by GreatLaker View Post
    I don't understand people that say they cannot retire because they don't have 35 years or 85 points in a DB plan so they will not get a full pension. To me that's asking the wrong question. They should be asking if they have enough to retire on, given a good understanding of projected retirement expenses and a conservative assessment of expected investment returns plus a reasonable safety factor ...
    I suspect you are assuming a level of interest/knowledge that isn't there. It's easy to read off the pension pamphlet what is needed for full pension versus figure something they have likely avoided most of their lives.


    Cheers


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