Fifty Plus (50+) - OT-Retire Early while you still can

I ran across the data in the attached link many years ago, basicly if you don't retire early you will die early. In my company there are a lot of us with a traditionaly retirement and 20 to 30 years in the company. In my younger years I would watch older buys retire and then within a few years attending thier funeral. http://www.seeya-downtheroad.com/InformationPage/WhyRetireYoung.html
I certainly don't agree with the BS statements about your best creative years in this article but the retirement age vs life expectancy is interesting.

Yes, unless you factor in the current status many of us face.
Declining wages, shrinking health care benefits at higher costs,
shrinking retirement benefits, higher inflation. For many of us
lower income (used to be midlle income) folks, retirement is a
treasure that our parents got to enjoy. Many of us will have to
work at least until age 65, and quite a few of us even longer.
Retail price of my brides meds is 20K per year and climbing.
Thank goodness for insurance. That's over two thirds of what my
retirement annuity would be. Of course, at 65 we get dumped into
Medicare...ouch! Still hoping for Hillery (or someone) to mend the
Health care system. Till then,Have Trek, will travel (back and forth to work).
If we don't retire...do we get to live forever?

OTH, if you're fortunate enough to be able to get out...by all means,retire
and live!!!!

I ran across the data in the attached link many years ago, basicly if you don't retire early you will die early.


Retirement? What's that? I lost any hope of retirement in my marriage.

I estimate that I could retire for about 6 months right now. ;)

So this is the infamous study I've heard several references too.

The data is bogus. It has been proven to be extremely inaccurate.

I have a Masters in Statistics, have done some research on longevity data and have read studies debunking this, but have never run across the original article until now.

Here is a link to a more robust, recent study

http://www.bupa.co.uk/health_information/html/health_news/281005retiringearly.html

I've seen some data which does suggest that people working in high stress or unenjoyable jobs into their 60s may well see a reduction in life expectancy. However the effect is nowhere near what is shown in the bogus study.

And the same studies indicate that if someone enjoys their job, then there is no detrimental effect to working longer.

Hey! I used this study to partially justify retiring at 57. Don't make me go back to work by telling me it's no good. :(

Here is a link to a more robust, recent study

http://www.bupa.co.uk/health_information/html/health_news/281005retiringearly.html

I've seen some data which does suggest that people working in high stress or unenjoyable jobs into their 60s may well see a reduction in life expectancy. However the effect is nowhere near what is shown in the bogus study.

And the same studies indicate that if someone enjoys their job, then there is no detrimental effect to working longer.

The Boeing study included data from Boeing, Lockheed and AT&T - a mix of High tech and manufacturing jobs, the first time I think I saw this data was in the early 80's. The study you quote Tom appears only to involve workers from Shell Oil - a process industry company. Both studies may be accurate or both may be bogus because both cover a different population and as someone educated in statistics you certianly understand there can be many other confounding variables. Most studies of this type have a political agenda behind them, the Boeing study's agenda might be to pressure companies to make it easier for worker to retire early (union driven) and the Shell study may be driven by corporate and government interests (non-traditional pensions and delayed social security benefits). Unless you dig into the sponsors you really don't know how to look for bias in the results.

I actually don't believe the conclusions from either set of data, most of my research involves working with statistics and data analysis and I know from years of experience that you must be extremely careful on how you interpret the results of any of these types of surveys. But with that said I agree with Mojo - this is my justification for an early retirement - don't mess with my justifications!:D

BTW- The reason I started this thread was because I read cranky's response in another thread about being placed on a rediculous work schedule. :(

Studies - Shmudies. I ain't going back to work no matter what they say.

Here is a link to a more robust, recent study

http://www.bupa.co.uk/health_information/html/health_news/281005retiringearly.html

I've seen some data which does suggest that people working in high stress or unenjoyable jobs into their 60s may well see a reduction in life expectancy. However the effect is nowhere near what is shown in the bogus study.

And the same studies indicate that if someone enjoys their job, then there is no detrimental effect to working longer.

I left one of those high stress, unenjoyable jobs twelve years ago. At age 53 I wasn't quite ready for retirement so I took a similar but much less stressful job with another company. My plans have always been to work until 66, retire and find a part-time job I enjoy. My plans might be altered slightly since my company is now in the process of expanding the outsource program. Hopefully my job will be outsourced and I can leave here with a nice severance package:)

I think that it's pretty simple minded to take one set of numbers (retirement age vs. age at death) and assume a causal factor.

In order to retire at 50 one has to have a pretty secure financial situation. I'd think that alone would be a much better predictor of age at death.

I thought I would be ready for retirement before I turned 60. But some factors are out of my hands and the ones that I thought I controlled are changing. I did do the right thing and stuck it out with the National Guard and Active Duty for 24 years. At least I'll get something when I turn 60 and in the worst case can land up at an Old Soldier's home.

I need at least 7 more years where I am to get my full vested 100%. There are times that I wonder if it's worth it.

I'm glad I found my part-time job. I get treated well there, I Love the people and 99.9% of the customers and the job supports my Bicycle habit.

I look at both of my parents both into the 80's and doing okay. I look at my health at 51 and know I'm doing better than both of them at the same age. After my heart Attack scare 2 weeks ago, I know that my heart, lungs and other bits of me are doing very well thank you. It did scare the heck outta me though, but I have a good baseline for many things.

Can I have some EXTRA gravy on my Turkey please....

Chris

Justification? I don't need no steenking justification. I'm shucking the corporate world as soon as I qualify for full retirement benefits, about 5 years from now. Even with my younger wife continuing to work and secure benefits, I probably will not be in a financial situation where I can do without some sort of additional income, but I can definitely find a way to live without the pressures and drudgery of the 9 to 5 world. I may work part time, I may start a business, I may job shop in my current industry, but I'll do it more on my terms.
I don't know if that will make me live longer, but I'm sure it will make me look forward more to waking up in the morning.

I think that it's pretty simple minded to take one set of numbers (retirement age vs. age at death) and assume a causal factor.

In order to retire at 50 one has to have a pretty secure financial situation. I'd think that alone would be a much better predictor of age at death.

This makes sense to me.
I've always hated work and felt is is the biggest waste of time. I'd retire tomorrow if there was any way to survive. Unfortunately, in my business, (car mechanic), there is no retirement benefit, or any other benefit except getting my car worked on for free, (by me).
Due to various bad decisions, a bad marriage, alcohol, and other blunders I have nothing. Maybe one of my wealthy 50+ friends will take me in?

Studies - Shmudies. I ain't going back to work no matter what they say.

+1000

I probably will not be in a financial situation where I can do without some sort of additional income.

If you have a good driving record and a clean police record and if you can deal with the students, you can always drive a school bus. At about 1,200 hours per year, it's a pretty good 1/2 time job. They're always looking for drivers everywhere because the job can't be eliminated, it can't be outsourced off shore, and the illegals can't get certified. Um - after I turn 70 I'll have to retest for my license every year.

+1000

Yep...me too

I took a few years off when I hit 45, found a nice, lucrative consulting opportunity at 49, and retired for good a few weeks ago at 57

My poor wife, though, retired at 55, found that she couldn't transition as easily as I did, went back to a corporate position, planning to retire for good at 58...somehow, I'm not sure that I believe her.

So, I'm looking for a house in Collingwood, Ontario, at the ski hills and bike trails, scouting properties in Spain and Italy, and selling our place in Toronto...maybe the cottage as well, as the new house will be only 10km away, but its nice to be able to fish and canoe from the backyard.

This thread reminded me of a a retirement presentation we did at a company where I used to work in the 70's...we shook his hand, wished him all the best, packed up his stuff, sent him off at 3:00 PM...we found him dead in his car in the parking lot when we left at 5:00 PM

poor guy never really left

I think either of the two surveys are, at best, speculative in their data.

Threads on retirement always baffle me and interest me at the same time.

Usually, no one defines what "retirement" is.

But these two surveys cited don't differentiate between the middle manager who wore a coat and tie and the guy who pounded the pavement and breathed the fumes of thread oil at the lathe. I wonder if mental health, habits, happiness have as much bearing on longevity as genetics.

In these and other 50+ threads I see people throw around the word "retirement" and then tell about how they're going to take another job. What that really means is they are going to quit their job, draw some benefits they have stacked up, and go on working.

Or, they seem to wear retirement as a "look-at-me" badge to tell others how they have "made it".

I hurt for the numerous people who hate their job. To do something day in and day out that you hate must be a horrible existence. We don't get do overs on the time we lose.

retirement is for wussy

I get bored in 2 weeks if I am not working for the man

I will work till I am dead. if I am lame and in bed and alive, I will get a computer
that reads eye movement and write code or music. gonna work till I die.

retirement is for wussy

I get bored in 2 weeks if I am not working for the man

I will work till I am dead. if I am lame and in bed and alive, I will get a computer
that reads eye movement and write code or music. gonna work till I die.

That's sad...you sound like Mrs. M

If you have a good driving record and a clean police record and if you can deal with the students, you can always drive a school bus. At about 1,200 hours per year, it's a pretty good 1/2 time job. They're always looking for drivers everywhere because the job can't be eliminated, it can't be outsourced off shore, and the illegals can't get certified. Um - after I turn 70 I'll have to retest for my license every year.


Yep, a friend of mine drives a school bus...3 hours in the morning, 3 hours in the afternoon

He took the job because it was the only way he could stay sober during the day

If you have a good driving record and a clean police record and if you can deal with the students, you can always drive a school bus. At about 1,200 hours per year, it's a pretty good 1/2 time job. They're always looking for drivers everywhere because the job can't be eliminated, it can't be outsourced off shore, and the illegals can't get certified. Um - after I turn 70 I'll have to retest for my license every year.

Thanks for the tip, but that sounds a little too confining a schedule for my desires. I see myself more as working for a few weeks or months to build up enough cash reserves to hop on a bike and travel for a while. I don't want to be as consciencious as I would want a school bus driver to be.

I don't want to be as consciencious as I would want a school bus driver to be.

Thank you for thinking that some of us might be consciencious.

>>> gonna work till I die

Yup. That was my line 'til I got hit upside the head by two Unambiguous Signals to Slow Down and Live Right*. Today, I'm out of it but still booked solid, but with REAL and meaningful activity of actual use to folks.

* - Bottom line, the message was, "Slow down or you'll be Going Home real soon. That "job" is All Smoke and Mirrors".

While I only provided a link to one study, there have been several others, to which I don't have on-line links, which substantiate that there is only a minor correlation between the age of retirement and the age at death. The AARP has conducted a few of these studies. A number of universities have also.

If there was a link anywhere near what the Boeing "study" indicates, this would have been borne out in numerous other studies and be a very well known fact amongst groups that study aging, as well as insurance companies and investment / retirement planning companies.

There are a number of sub-correlations. That is, there are differences between occupations that had different stress levels, different exposure to toxic substances, etc. But in the end, using just the age of retirement is not a good predictor of one's age of death.

I have to go ten more years before I can retire with full benefits. I will be 64 (felice cumplianos a mi). I put 25% of my salary into my retirement accounts and have a company pension plan. Full retirement means medical coverage and as everyone knows that is a big one in retirement planning. In my profession, I can fall into some very nice consulting jobs after retirement to finance the traveling we want to do, without touching the principal. Unless some disease strikes me down out of the blue, I plan on staying healthy so as to enjoy my time off.

I work for a high-technology startup. Twenty years ago age 40+ engineers in various fields were very fearful of losing their jobs, but now there are lots of us 50+ers still in the workplace. (My boss is 65.) My favorite professor at UCLA, now 70 and enjoying being the academic vice-chair of the department, plans to work a few more years. If your job is stressful, it will shorten your life. If your job is all-consuming, retirement will literally kill you. However, if you have a well-balanced life and a stimulating job, why not keep working as long as you enjoy it?

My own plan is to move into academia when my current employment terminates. I want to keep working, I love teaching, I want to cut back on my work hours, and I can afford to take the financial hit.

I do not accept that first set of statistics that was presented, because frankly the numbers look fake. The relationship between the dependent (age at death) and independent (age at retirement) variables is simply too neatly monotonic, almost linear. My students did a better job of dry-labbing their reports when I taught optics, mechanics, and electricity and magnetism labs for life science majors at UCLA.

Thank you for thinking that some of us might be consciencious.

Yeah, like Otto Mann! :D

BTW- The reason I started this thread was because I read cranky's response in another thread about being placed on a rediculous work schedule. :(

I wondered.

Kinda stuck in a catch 22 here. Can't afford to retire due to too many company
cutbacks that have negetively impacted us employees, but the job is slowly
killing us.

I think I'll outsmart 'em and live & work forever....:D

Do you realize the depth of the conspiracy that would be needed to keep these numbers (that people live dramatically shorter lives if they work longer) secret from everyone in the world? It would be the Mother of All Conspiracies, with every pretty much every newspaper and magazine in the world having to be in on it, along with all major governments, all of the investment and retirement consultants, all of the Fortune 1000 companies with pension plans, all retirement agencies, pretty much all lawyers, and so forth.

For example, this data shows that working longer is far more detrimental to one's health than smoking or black lung or asbestos. Those aren't exactly secrets.

Conversely there are many studies now advocating raising the retirement age for Social Security due to people living longer after retirement and drawing more out of those funds than projected. Data that shows someone who works to 65 nowadays lives several years longer than they did in the 1930s. So it isn't like no one is studying this issue.

My personal situation vis a vis retirement seems to be following an unexpected course.

I'm about to turn 53 and have been with the University of Wisconsin for 18 years. I have a great job, almost a perfect job in terms of what I enjoy doing and am capable of doing. It is a high level, decision-making job and I enjoy analyzing data and making decisions. However over the past 3 years, I've seemingly lost my ability to deal with and shed stress. This despite making several life changes specifically toward that goal.

Consequently I'm having all kinds of stress overload and burnout problems. It feels like my body/mind is deciding that it can't do this anymore. I've been experiencing many stress-overload symptoms, like exhaustion, dizziness, forgetfulness, raised anxiety levels, lack of concentration, etc.

I've always had a bit of a problem with these things, expressing overstress problems about every 5 years or, going back 30 years. But now I can't shake them. 10 years ago I could take 2 weeks off and then be fine. Now I take 2 weeks off and I'm stressed out again within 2-4 weeks.

I believe it is partly due to having a boss who induced stress from 2002-2005. The stress levels at work remained high, even though it was a good job. Now I have a great boss, but I can't get back to where I was a few years ago.

From an academic perspective, it is all rather fascinating to me. I've changed numerous factors in my life, and yet my response to them is very different than when I was in my 30s and 40s. I liken the condition to someone who has a knee or back problem that they didn't take care of when problems arose. They continued to abuse their problem until it became chronic and can no longer be healed through standard procedures back to the way it was 15 years earlier.

My initial plans were to hold my present job until I hit 60. All of the finances are lined up. But I'm not going to make it. The last year felt like it took 5 years to get through. There is no way I could endure 7 more of those. So now I have to re-evaluate all of my plans. Most likely alternative is to step down from my position to one with less stress, taking a pay cut, maybe cutting back my hours. It's not a step I want to take, but it is getting to the point where I'm going to have to do something.

Life can be an interesting journey.

Life can be an interesting journey.

No kidding...having been self-employed for the last 13 years, my stress was mostly self induced, and having retired a few weeks ago, I'm amazed by the remarkable drop in my blood pressure and glucose levels.

My last job was literally killing me

No kidding...having been self-employed for the last 13 years, my stress was mostly self induced, and having retired a few weeks ago, I'm amazed by the remarkable drop in my blood pressure and glucose levels.

My last job was literally killing me

I hear you. I managed an engineering office for 8 years, working long hours, worrying about finances, employees, projects, yada, yada, yada. I enjoyed the previous couple decades before promotion, but really wasn't cut out for the stress involved in management. My company instigated an early retirement program in 2005 and I jumped on it. I was 54 years old. I didn't want to know if I wanted to be retired or not, but I knew my job wasn't good for my health. Sure enough, 6 months later, my next checkup showed that I had lost 16 pounds and was the picture of health compared to the previous decade of checkups.

Fast forward a couple years, and I now do contract consulting work about 600 hours a year, roughly 35% of full-time and I enjoy it. My health is great and I get to do the things that I want to do like travel and ride a bike. I can't imagine working full time, again. :)

This is great. A direct link between age of retirement and length of life. Using the stats I would recommend you retire at age 15 and live to be 200 years old. I love statistics, you can squeeze what ever you want out of a bag of s**t.

No kidding...having been self-employed for the last 13 years, my stress was mostly self induced, and having retired a few weeks ago, I'm amazed by the remarkable drop in my blood pressure and glucose levels.

My last job was literally killing me

I basically did the same thing. I liked working and the job I had, was one of the best you could get in the city of Chicago. I just got fed up with the politics and the politicians running it. They didn't have any idea what we were doing, but they had to keep flexing there muscles. After my cancer in 1998 I came back to work and I didn't care if the whole place when down. Then, when it was getting close to getting out, I started to worry about insurance and I still am, but I wouldn't trade off my retirement for anything. I've been offered a few jobs down here in the Houston area, but there is know way I'm going to do any work for anybody anymore. Not even side jobs. Good luck all you guys that are still working and God bless you, but I put enough time in and it feels great to be done. Happy Thanksgiving.

I've been offered a few jobs down here in the Houston area, but there is know way I'm going to do any work for anybody anymore. Not even side jobs. Good luck all you guys that are still working and God bless you, but I put enough time in and it feels great to be done. Happy Thanksgiving.

You have my blessing. Live long and enjoy it! :)

I'm in a very fortunate situation.

1. I like my job and it's actually kind of fun at times. Since I'm not a supervisor anymore, there's no stress and I'm basically being paid to run a few studies and mentor a few early career people, which keeps me feeling young.
2. I'm very well paid (many would say overpaid and I would agree).
3. Our industry (energy) is in a growth period so everyone's scrambling for people and job security is not an issue.
4. With six weeks of vacation, I get plenty of time off.
5. I have no health issues (knock on wood) - I ride ~2000 miles a year and run 400 miles a year.

Except for item 5, I take no credit for the above; I'm just lucky.

Although I'm planning to retire in four years (I'm 58 now), I have no burning desire to. I like the day-to-day personal interaction and I like the income. My main concern is retiring too soon. I don't want to have to come back and work part-time as a greeter at a big box discounter.

So, how did you guys figure out that your finances were set? Did you go to financial planner? Did you use one of those planning programs? How did you decide on what your annual expenses would be (I think that, for me, this is the big unknown and I plan on keeping track of expenses next year to get some idea of where the outlays will be)?

All is not a bed of roses - I still hate getting up at 6 am each morning.

Cliff

So, how did you guys figure out that your finances were set? Did you go to financial planner? Did you use one of those planning programs? How did you decide on what your annual expenses would be (I think that, for me, this is the big unknown and I plan on keeping track of expenses next year to get some idea of where the outlays will be)?

My dad was a money guy for a large business, so I've always used him as a sounding board and to do long term planning. I think it's so strange how people don't like to talk about money... if you get used to it, and find out how other people manage their money, you get a much better sense as to whether you've been doing things in a common sense way. All those people who bought too much house with ARMS they couldn't afford... who did they talk that over with? Who gave them that advice except the guy selling the ARM?

Now I have a different "money guy", but I don't trust him completely yet. I'm suspicious of how financial businesses are set up--with kick-backs and percentages, and I'd be happier with a fee-based system. I gotta admit, it makes diversification easier, and I've always been a bit baffled by bonds for some reason, so it's nice to get advice there. But my dad recommended him, so I'll start with him and see where it goes.

I'm in my prime earning years, and the money I earn now will still have time to grow. That's my main impetus for working more and playing less than I'd like. I'm pretty worn out right now from working so much (I freelance). If I was 15 years older, the impetus would be lessened considerably.

PLUS: in my field, age is a VERY BAD thing. Luckily, I'm at the tail of the boomers, so there is a group of people above me who don't think I'm old and I'll have work until they retire. There is no way a person younger than me will hire me because I'm not "cool and cutting edge" enough. So in that time frame I should be prepared to retire completely when the boomers retire.

So, how did you guys figure out that your finances were set? Did you go to financial planner? Did you use one of those planning programs? How did you decide on what your annual expenses would be (I think that, for me, this is the big unknown and I plan on keeping track of expenses next year to get some idea of where the outlays will be)?
Cliff

As we all go through life, we assemble a team to help us along the road, doctors, dentists, car mechanics, financial planners, etc....the players change according to our needs, but they all wear our uniform and work for us.

I was fortunate to have some excellent financial planners...only had to sue one a while back, but my current team is the best...they know my priorities, do their research, and look after my nestegg.

My only worry now is inflation as my income will be fixed but my expenses aren't, but if interest rates increase to those 20% returns we had in the past, I'll have hit the gravy train

My dad was a money guy for a large business, so I've always used him as a sounding board and to do long term planning. I think it's so strange how people don't like to talk about money... if you get used to it, and find out how other people manage their money, you get a much better sense as to whether you've been doing things in a common sense way. All those people who bought too much house with ARMS they couldn't afford... who did they talk that over with? Who gave them that advice except the guy selling the ARM?

Now I have a different "money guy", but I don't trust him completely yet. I'm suspicious of how financial businesses are set up--with kick-backs and percentages, and I'd be happier with a fee-based system. I gotta admit, it makes diversification easier, and I've always been a bit baffled by bonds for some reason, so it's nice to get advice there. But my dad recommended him, so I'll start with him and see where it goes.

I'm in my prime earning years, and the money I earn now will still have time to grow. That's my main impetus for working more and playing less than I'd like. I'm pretty worn out right now from working so much (I freelance). If I was 15 years older, the impetus would be lessened considerably.

PLUS: in my field, age is a VERY BAD thing. Luckily, I'm at the tail of the boomers, so there is a group of people above me who don't think I'm old and I'll have work until they retire. There is no way a person younger than me will hire me because I'm not "cool and cutting edge" enough. So in that time frame I should be prepared to retire completely when the boomers retire.

OK, I'll bite, what line of business are you in where youth is so valued? I'm guessing advertising.

OK, I'll bite, what line of business are you in where youth is so valued? I'm guessing advertising.

Advertising!

Am 75, retired 13 years ago.
Never consulted with a financial planner; never was unemployed; never made car payments. Always made our own decisions.
Do what you can afford; don't borrow and pay someone 20% interest! Use a credit card but pay it off each month (yeah, you're borrowing their money . . . at no charge). Live within your means.
We are not rich, yet we are happy and doing what we want/like to do.
You don't know how many years you've got left, so why not enjoy them?
Life is good!

I wouldn't trade off my retirement for anything. I've been offered a few jobs down here in the Houston area, but there is know way I'm going to do any work for anybody anymore. Not even side jobs. Good luck all you guys that are still working and God bless you, but I put enough time in and it feels great to be done. Happy Thanksgiving.
Ditto. I had a great Federal career for 31 years but retired when eligible three years ago at 56. The job was good but, like Bombadil, the stress was an issue -- always waking at 4:00 AM worrying about one thing or another. I had a lot of consulting opportunities after I retired and even took on a couple of short projects. But then I realized that I don't have to work and don't want to - particularly for someone else. Like George, I don't even want simple side jobs. Cutting the psychological umbilical cord to work was a great relief. And soon after I did that I re-discovered cycling -- bliss.

So I've always figured when I reached the point where a 4% draw on my 401K plus my pension plus whatever socialsecurity wants to give creates an income equal to my current salary ...retirement would be a no-brainer. Hmmm. I'm almost there right now at 54. Hmmm. But alas I still have 4 kids to get through college and I actually love my job (even though it is high stress techno). On the other hand, it sure sounds attractive to have every day free for whatever project bubbles to the fore.

So, "when to retire" has become the most stressful thing on my mind these days. How ironic.

<< So, how did you guys figure out that your finances were set? Did you go to financial planner? Did you use one of those planning programs? How did you decide on what your annual expenses would be (I think that, for me, this is the big unknown and I plan on keeping track of expenses next year to get some idea of where the outlays will be)?>>

I have been working with a fee-based financial planner for 20 years and retired 10 years ago at age 57.
He did a presentation for my employer all those years ago and I paid him $1,000 for a financial plan, much to my wife's chagrin. She called him the $1,000 man, but she changed her mind some time later.
Yes, there are programs available to help you do it yourself - Fidelity.com has a good one - but this guy gave us peace of mind and continues to do so.
Basically you need to estimate how much you will spend in retirement - it's actually more that 60% of what you spend while working as you have more time to spend it- then calculate how much you need to produce that income. The available programs will do a reasonable job at that.

As for returning to work - forget it! I was 30 years with a major US hi-tech company flying thousands of miles per year and enjoying it until about two years before my retirement when we were in constant downsizing/right-sizing mode. I found this very stressful as I had to get ride of so many people, many of whom I knew well. I had planned to retire at 58, but after discussing with the planner we concluded I could quit at 57 and did just that. Fortunately I have a good company medical plan and had stock options which I exercised before they took a dive, plus a 401k and a company pension, so we are comfortable. On top of that, I got back into cycling after 30+ years' layoff and feel better now that I ever have. My asthma rarely bothers me, I could do with shedding a few pounds, but I am relaxed and enjoying life with my wife, friends and family who I never had much time with during my hectic working life.

Lot of 2 percenters around

So I've always figured when I reached the point where a 4% draw on my 401K plus my pension plus whatever socialsecurity wants to give creates an income equal to my current salary ...retirement would be a no-brainer. Hmmm. I'm almost there right now at 54. Hmmm. But alas I still have 4 kids to get through college and I actually love my job (even though it is high stress techno). On the other hand, it sure sounds attractive to have every day free for whatever project bubbles to the fore.

So, "when to retire" has become the most stressful thing on my mind these days. How ironic.

Your situation is quite similar to mine. Son #1 just started grad school (plasma physics / materials science at UCSD) and son #2 just started college. My job meets all of my criteria: easy commute, great boss and coworkers, interesting work, good pay, private window office, etc., but I would welcome the opportunity to cut back on the average 45-to-50 hour per week commitment in exchange for a proportional reduction in salary.

Suggested reading: "Your Money or Your Life" by Joe Dominguez & Vicki Robin

Helps you determine 'what's enough' for YOU. It's different for everyone.

Figured I be working until age 70 - read the book in '97 and retired in '00. Sold the BIG house and just walked away from my sales job at age 57 (wife stopped working in her early 50's). The telecom industry was a cauldron of buyouts, mergers and spin-offs. I worked for Lucent Technologies the last 5 yrs and just walked away with zero benefits and/or pension.

Lost 15 lbs in the first month - getting out, per our 30 day escrow helped do that.

We lived for the first 5 yrs on the money left over from the sale of our house and not used to buy a 50% smaller condo for cash. We both took Soc. Sec. at age 62. If things get bad, we can live on our Soc. Sec. and the rental income from out other condo. We live on less than Soc. Sec. + 4% of cash & 401K. The 95% equity in the two condos is reserve $. We did not really do any financial planning - did have Fidelity analyze our situation 3 yrs ago. They said we could get to age 95, which my spreadsheets had also predicted.

We have one daughter. She graduated from Univ of OR in 1990 - we bought a large old house near the campus which she lived in and rented out rooms to other students. It paid for her education and her husband's too. Neither they, nor us, had any debt after they graduated.

Just a few moves and moderation in spending along the way - and a couple of good real estate decisions made the difference.

I love the lack of "have to do's" in my life - work stress was pretty high in commissioned sales.

Our daughter will be 40 next month, and she and her husband are planning on retiring at age 55. Might be a little harder these days, but they are laying the groundwork right now.

Disclaimer: Early retirement is not for everyone. Some love to work, others need to work. Good Luck to all who are approaching mid-life and beyond. Do what makes you happy!

I worked in telecommunications industry for 33+ years. the last three years I was the perfect example of the Peter principle. If not for a co-worker helping me I would have gone crazy with the stress. I was offered a chance to retire at age 58 and jumped at it. I have never looked back, it's been five years and I am busy, the days go fast and with my bike riding I feel better than ever.
I say if you think you can do it, do it.

I'm not sure how valid this study is based on the Boeing employees. Is this a statistically valid sample. I hope not. It means I'll probably die in 4 years. The study sounds pretty fishy on the face of it. Oh wait! Here is a study claiming the exact opposite.

http://www.medpagetoday.com/PrimaryCare/PreventiveCare/tb/1980

Frank

So I've always figured when I reached the point where a 4% draw on my 401K plus my pension plus whatever socialsecurity wants to give creates an income equal to my current salary ...retirement would be a no-brainer. Hmmm. I'm almost there right now at 54. Hmmm. But alas I still have 4 kids to get through college and I actually love my job (even though it is high stress techno). On the other hand, it sure sounds attractive to have every day free for whatever project bubbles to the fore.

So, "when to retire" has become the most stressful thing on my mind these days. How ironic.
The old canard that your retirement income has to reach some magic proportion of your pre-retirement income is nonsense. Your retirement income simply needs to exceed your retirement expenses. Your retirement expenses will likely be much lower than pre-retirement. You are no longer saving (a big expense if you have been maxing out your 401k, etc), you will probably have the mortgage paid off in short order, you will probably be in a lower tax bracket. So figure out your expenses and then calculate your 4% - you may be there today :D