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Retirement!

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Old 05-07-18, 01:21 PM
  #26  
LuckySailor
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Originally Posted by cccorlew View Post
If only I could figure out if I can afford it. Plus, my wife points out that we've been working long enough that we have no debts and make reasonable money we might want to keep doing it while we can. The money is nice. But all this work stuff is getting mighty daily. Even though I like it.
Congrats to you. Do check on next year and tell us: Bored? Broke? Busy? What?
sounds like your wife is ready to retire, you should embrace that idea.
Out at the cottage last year, a buddy pulled out his tape measure and explained “this is our life in years. My dad died here at 78, and I’m 58, so better than 2/3rds of my life is gone!” That’s a sobering way to look at it.
My wife and I always expected that her dad would pass away before mom. One day I get the call, mommy isn’t waking up....she had passed away a couple hours earlier in her sleep. You never know when you’re gonna get called. We are far from rich. House payment, new car payment and one in college. We go on 2-4 vacations a year. The money will come from somewhere- it always seems to. Retire while you’re alive and in at least reasonably good health. Just my 2cents.
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Old 05-07-18, 02:19 PM
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My checklist:

1. House paid off:
2. Kid through college:
3. Health care for life:

nope,nope,nope
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Old 05-07-18, 02:43 PM
  #28  
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Waking up every morning, going for a bike ride and getting paid everyday for the rest of your life.

There is nothing like it!! Enjoy!!

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Old 05-07-18, 07:39 PM
  #29  
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After working my butt off since 1964 I called it quits. Now the dusty bikes in the corner of my shed are seeing the light of day again. The fun of riding is back
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Old 05-07-18, 08:02 PM
  #30  
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Originally Posted by wthensler View Post
OldTryGuy,

Your words mean so much to me, thank you. Hey, you’ve already got rock star status (and I have the proof!). Best wishes.
Results are not as bad as I expected so easy resolution is available BUT the humorous part is that date #1 for procedure wife and I fly out to Seattle to begin her(our) long awaited Alaskan Cruise which includes a special dinner for our 45th anniversary and date #2 has us flying out to Oklahoma for grandson's graduation of his Army Advanced Training. Until that date of general anesthesia arrives I will stay vertical except for sleeping or swimming. Hoping the wind is at your SIX.
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Old 05-09-18, 07:50 PM
  #31  
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I retired in January this year. Its been really nice. I need to get out a bit more so I got a fun job that will get me off my rear, and I should still have time to put in 20 miles a day.
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Old 05-09-18, 08:52 PM
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Originally Posted by John E View Post
Sorry, I don't get it. I am enjoying my encore career in academia, following a 35-year run in industry. I had tentatively planned to retire at age 70 (two years from this coming summer), but I may keep going beyond that. The saving grace is a much more flexible work schedule, including working from home most Tuesdays and Thursdays, and the fact that I now work "only" 40 hrs/wk., instead of 50 or 60.

The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.

One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
Me neither, I am a pensioner now but I work more than full-time, love what I do. Bu tI guess it's the old saying, 'choose a job you love and you'll never have to work a day in your life". I'll hang it up when the brain stops working correctly.
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Old 05-10-18, 04:48 AM
  #33  
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Congrats on the retirement! I am 3 weeks behind you Looking forward to a summer of hiking and biking with of course plenty of honey do's in the mix.
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Old 05-11-18, 10:44 AM
  #34  
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Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
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Old 05-11-18, 05:40 PM
  #35  
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Originally Posted by TomWinKC View Post
Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
I know 3 dudes in the same boat but I only heard the figure for one-- well-above average earner for >20 years left full time employment in his 50s (pretty sure he banked plenty), wife never worked... the yearly cost for a medical plan covering both: 11k
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Old 05-12-18, 05:44 AM
  #36  
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Originally Posted by TomWinKC View Post
Congratulations to all of you who are enjoying your retirement. I am fast approaching my own this coming January. I am sure among us there are others that are in my situation and I would greatly appreciate any assistance or recommendation. My Wife is 8 years younger, I have a disabled son so she does not work and her medical insurance has always been with my employer. Where you have that gap between Medicare and leaving FTE benefits, what are your doing for medical insurance until Medicare kicks in? I'm finding it to be very expensive through my retirement benefit, over $1,000 /month. Any suggestions or experience would be greatly appreciated.
The whole process of determining when to "pull the trigger" on retiring can get complicated, especially, if we don't have a good defined-benefit pension plan and we don't have paid retiree health benefits. I'm also in that place ... my spouse is about 3 1/2 years younger and has been on my benefit plan for health coverage. I'll be 65 soon but am still working. I won't have paid health insurance when I retire so that definitely is a big factor assessing expenses in retirement. Fortunately, my job is fairly low-pressure and I'm able to work at home so working a bit longer isn't an issue from a stress or work-life balance prospective.

Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit

Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.

Best of luck in whatever decision you choose!
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Old 05-12-18, 06:31 AM
  #37  
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Originally Posted by John E View Post
Sorry, I don't get it. I am enjoying my encore career in academia, following a 35-year run in industry. I had tentatively planned to retire at age 70 (two years from this coming summer), but I may keep going beyond that. The saving grace is a much more flexible work schedule, including working from home most Tuesdays and Thursdays, and the fact that I now work "only" 40 hrs/wk., instead of 50 or 60.

The other saving grace is financial independence, and the knowledge that I now work at a job that I could afford to walk away from at any time.

One of my friends, who is 10 years my senior, retired from teaching electrical engineering for 50 years at San Diego State, and now he works part-time with me as an adjunct prof. at UCSD. His friends tell him he "sucks at retirement." Another role model is local oceanographer Walter Munk, 101, who says, "I work because I still can."
yeah, that’s me too. I’m 67, really enjoy my job (surgeon), especially as it has evolved over the last decade. It doesn’t keep me off my bike, keep my wife and me from traveling, or doing many of the things I want to do. In fact, just the opposite. It affords me the financial independence that allows me to enjoy my hobbies and my life without the impediments of niggling little things like a budget. I’m sure there are jobs that people just can’t wait to retire from. Fortunately for me, I don’t have one of those jobs. I do know people that love their retirement and certainly acknowledge that it’s a great thing for some people and some jobs. Others, like me, would miss the sense of accomplishment, value, and service that a productive career affords. The concept of waking up in the morning at 8am and not knowing what day it is would just make me depressed.

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Old 05-12-18, 08:58 AM
  #38  
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Retirement is great. I retired after 47 years at IBM. I was 70 at the time, and turn 80 this year. In warm weather I ride approx 25 miles every other day, I think it is what keeps me in good health.
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Old 05-12-18, 08:59 AM
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Originally Posted by rydabent View Post
Retirement is great. I retired after 47 years at IBM. I was 70 at the time, and turn 80 this year. In warm weather I ride approx 25 miles every other day, I think it is what keeps me in good health.
What did you do at IBM?
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Old 05-12-18, 10:41 AM
  #40  
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Retirement!
Originally Posted by Cuyuna View Post
yeah, that’s me too. I’m 67, really enjoy my job (surgeon), especially as it has evolved over the last decade. It doesn’t keep me off my bike, keep my wife and me from traveling, or doing many of the things I want to do. In fact, just the opposite. It affords me the financial independence that allows me to enjoy my hobbies and my life without the impediments of niggling little things like a budget.

I’m sure there are jobs that people just can’t wait to retire from. Fortunately for me, I don’t have one of those jobs. I do know people that love their retirement and certainly acknowledge that it’s a great thing for some people and some jobs.

Others, like me, would miss the sense of accomplishment, value, and service that a productive career affords. The concept of waking up in the morning at 8am and not knowing what day it is would just make me depressed.
Nicely written, @Cuyuna. I too am in a "learned profession." I posted earlier on this thread:
Originally Posted by Jim from Boston View Post
I’m a few years away from retirement, but it is starting to loom large. Nice set of tips, @jppe, and my comiseration to those with health problems (IMO cycling can be an effective preventive maintainence).

I too like my rewarding job, psychically and financially, and I want to establish an inheiritance for the children, especially a disabled one. We have also recently bought a vacation / investment second home.

My cycling lifestyle is important to me and retirement vis-à-vis cycling poses a dilemma...
Originally Posted by Jim from Boston View Post
Just yesterday a colleague asked me when I was going to retire. I suggested a number of years, adding, "I like my job, and it’s a convenient place (and distance) to bike to."
but,
Originally Posted by Jim from Boston View Post
I have previously posted to this thread, Why didn’t I ride
Originally Posted by Jim from Boston View Post
My job; either too much to do, so I stay (comfortably) overnight and resume very early in the AM, missing my commute; or have to travel afar for a meeting...and to a lesser extent, family activities. …
Since you mentioned that sense of professionalism, it’s a sticking point for me too. I spent several years in training, followed by decades of experience to get to my current level, but I’m sure decline is inevitable.

Also as you state, the profession is advancing (rapidly from the vantage of decades of practice) and while it is interesting and exciting, we are followed by newer colleagues who now take such advancements as routine.

We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).

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Old 05-12-18, 10:55 AM
  #41  
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Originally Posted by Jim from Boston View Post
Retirement!Nicely written, @Cuyuna. I too am in a “learned profession.” I posted earlier on this thread:Since you mentioned that sense of professionalism, it’s a sticking point for me too. I spent several years in training, followed by decades of experience to get to my current level, but I’m sure decline is inevitable. Also as you state the profession is advancing (rapidly) and while it is interesting and exciting, we are followed by newer colleagues who now take such advancements as routine.

We must be aware of the best interests of those we serve, and be glad we can enjoy the fruits of our productivity in retirement (IMO, FWIW).
My career has evolved to the point where, on a national level, I participate in those advances, create some of them, and am responsible for teaching and helping my newer colleagues to learn and use those professional advances. It's one of the more productive and enjoyable aspects of what I do. Doing what I do at the level that I do it...you don't get to fool people for very long. Ongoing peer evaluation, public evaluation, and self-evaluation are such an integral part of my profession that there will be no shortage of avenues making it clear that I'm no longer up to the job when that time comes, as it no doubt will some day. But not today, likely not tomorrow.

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Old 05-12-18, 11:18 AM
  #42  
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Originally Posted by Cuyuna View Post
My career has evolved to the point where, on a national level, I participate in those advances, create some of them, and am responsible for teaching and helping my newer colleagues to learn and use those professional advances. It's one of the more productive and enjoyable aspects of what I do. Doing what I do at the level that I do it...you don't get to fool people for very long. Ongoing peer evaluation, public evaluation, and self-evaluation are such an integral part of my profession that there will be no shortage of avenues making it clear that I'm no longer up to the job when that time comes, as it no doubt will some day. But not today, likely not tomorrow.
Originally Posted by Jim from Boston View Post
I’m a few years away from retirement, but it is starting to loom large…I too like my rewarding job, psychically and financially..
Again, well said, and no criticism intended, Dr. Smith.

I too want to practice for a while, and that's a drawback to retirement. I'm glad it's not mandatory for me, at least not by age, but younger colleagues are retiring, not too few with relief .

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Old 05-13-18, 08:43 AM
  #43  
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Originally Posted by dennis336 View Post
The whole process of determining when to "pull the trigger" on retiring can get complicated, especially, if we don't have a good defined-benefit pension plan and we don't have paid retiree health benefits. I'm also in that place ... my spouse is about 3 1/2 years younger and has been on my benefit plan for health coverage. I'll be 65 soon but am still working. I won't have paid health insurance when I retire so that definitely is a big factor assessing expenses in retirement. Fortunately, my job is fairly low-pressure and I'm able to work at home so working a bit longer isn't an issue from a stress or work-life balance prospective.

Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit

Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.

Best of luck in whatever decision you choose!

Thank you for your thoughtful response. I likely will stay with our company' s group medical. I think staying with the company's group plan and going to a higher deductible will protect my family from the ACA's unpredictability and preserve our insurability.
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Old 05-16-18, 12:01 PM
  #44  
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Originally Posted by dennis336 View Post
The whole process of determining when to "pull the trigger" on retiring can get complicated, especially, if we don't have a good defined-benefit pension plan and we don't have paid retiree health benefits. I'm also in that place ... my spouse is about 3 1/2 years younger and has been on my benefit plan for health coverage. I'll be 65 soon but am still working. I won't have paid health insurance when I retire so that definitely is a big factor assessing expenses in retirement. Fortunately, my job is fairly low-pressure and I'm able to work at home so working a bit longer isn't an issue from a stress or work-life balance prospective.

Have you checked out the ACA Exchanges in your state? Admittedly, those plans can get very pricey, too, especially if you don't qualify for a subsidy and live in a high-cost state. But, depending on your retirement income, you may be able to qualify for a subsidy that makes it more attractive than your retiree plan (btw, if by 'retirement benefit', you mean COBRA, you've got a limited number of months you can use that anyway so you or your wife would still have a gap waiting for Medicare. In CT, we can go through the ACA portal and enter our expected income level to see what plans are available and the estimated cost. Does your state have a similar portal? If so, you could do a cost-benefit calculation compared to your retiree benefit

Alternatively, is working longer an option for you? That's the path I've chosen (not just for health benefit reasons, but that is a factor). But my situation may be very different so I know that may not be a great option for your situation.

Best of luck in whatever decision you choose!
Medical insurance was my biggest unknown but now it seems to have been resolved for us.

FWIW, I went on Medicare at age 65 and my portion of Parts A&B is $134 a month. I got that coverage through United Healthcare and prescriptions are no cost to me. Plus they provide some over the counter medicines at no charge. I needed a private policy for my wife and had choices of going to the market or taking my former company's retiree coverage for spouses. I was unable to qualify for Marketplace coverage so we opted for my company's coverage which was still very expensive. However my physician suggested we look at this option (see link) which technically isn't insurance but does appear to provide coverage for "major healthcare expenses". Medishare acts similarly. These plans may not be for everyone but some might feel comfortable going in that direction.

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Old 05-16-18, 02:40 PM
  #45  
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Originally Posted by jppe View Post
Medical insurance was my biggest unknown but now it seems to have been resolved for us.

FWIW, I went on Medicare at age 65 and my portion of Parts A&B is $134 a month. I got that coverage through United Healthcare and prescriptions are no cost to me. Plus they provide some over the counter medicines at no charge. I needed a private policy for my wife and had choices of going to the market or taking my former company's retiree coverage for spouses. I was unable to qualify for Marketplace coverage so we opted for my company's coverage which was still very expensive. However my physician suggested we look at this option (see link) which technically isn't insurance but does appear to provide coverage for "major healthcare expenses". Medishare acts similarly. These plans may not be for everyone but some might feel comfortable going in that direction.

Christian Healthcare Ministries: Home
Thanks for the post and link. Glad you found good options for you and your wife. I have heard of the kind of plan in your link ... not sure if it's the same one. Yes, it can be a good option in the right circumstances.
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Old 05-16-18, 02:59 PM
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Originally Posted by dennis336 View Post
Thanks for the post and link. Glad you found good options for you and your wife. I have heard of the kind of plan in your link ... not sure if it's the same one. Yes, it can be a good option in the right circumstances.
Forgive my bluntness and I don't want to start a flame war, but those Christian health-share plans have a lot of problems; please research very carefully before thinking of them instead of insurance.

As for the OP - he probably couldn't get coverage for his wife with such a plan because of her pre-existing cancer condition.
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