Man, I don’t plan to stop doing things, but I’m going to retire from the job I’m in at 57. That’s the minimum age for full retirement. I’ve had a good run and a successful career, but I have some great people on my team and need to get out of their way.Keep working everyone, until you drop.
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I stopped working full time at about 53, moved to the backwoods hill country of South Carolina, fished off my dock, flipped a couple of houses, spent a few weekends on the beach near Charleston (before moving there) spent a lot of money (and had fun doing it) and now am renting an apartment and just making it OK on my retirement.
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FERS? Me too. Same goal.
I completely agree with you! There was a fad to pay off ones mortgage as fast as possible by scrimping, not going on holiday, parties, restaurants etc. But it struck me that they may have missed out on incredible experiences or meeting life-changing people thinking they could acquire those experiences at a later date! What did they do when they were mortgage free? They bought a bigger house with another mortgageI stopped working full time at about 53, moved to the backwoods hill country of South Carolina, fished off my dock, flipped a couple of houses, spent a few weekends on the beach near Charleston (before moving there) spent a lot of money (and had fun doing it) and now am renting an apartment and just making it OK on my retirement.
Due to minimum money and my wife's health, no more flying to Jamaica or Mexico or cruising about the Carribean or even whitewater rafting trips. Thank goodness I had the sense to do these kinds of things earlier. My advice for those looking towards retirement in their 60's is to NOT WAIT till then to enjoy life! Do as much as you can, when you can. You never know when those opportunities will vanish for one reason or another. My wife and I have a lot to look back on and memories never go away. The future can be taken away, but never the past. Use the present to build a past you can take with you into the future. (I think that makes sense
Now? I try to stay regular, watch TV, work out, go to doctor's appointments, see my kids and grandkids a few times a year and spend time on Martialtalk. All in all, a reasonable, if humble, retirement.
I’d struggle with that. I’m a home bird and it needs to be made of brick and stone!
And, for the love of everything, leave them alone. I started retirement savings at 22, and was on pace to likely retire by 50. I made the mistake of using those savings for a business investment in my 30's, and destroyed my retirement plan.
I retired at 56. It's the best 20 years of my life. I'm glad that I find the best place in US to retire. When I walked on the beach, I think about all the happiness happened in my life. 4 miles running/walking + MA training on the beach keep me busy and happy.
Proper real estate investment can help your retirement. If you can put some downpayment on rental property. You then let your tenants to pay your monthly payment. Your retirement fund can grow faster that way.What did they do when they were mortgage free? They bought a bigger house with another mortgage
Oh no….that’s awful.
This is correct. If your employer has neither defined benefit nor matching defined contribution plan, it probably takes about 20% of your gross salary being dumped into an IRA to make up for all of that.
A company provided pension used to be the norm. That said, many employers match a percentage of one’s 401k contributions.
Right, I mean outside of social security. That 20% figure, I'm basing on FERS.
Pismo Beach used to be a laid-back surfer town. Hope it still has that vibe. The West coast ocean is too cold for me. I much prefer the warm Southeastern ocean water and fine white sand. But there is a lot of rain and humidity. But no earthquakes. But there's a chance for hurricanes. But fewer illegals and homeless. But less rock and roll. But cheaper gas and car insurance. But both have no snow! And people on both coasts can enjoy the same moon on a summer night.
Do you receive pension check?
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