Just a "hello"....

[rs0460a]

Hi,

Just joined the board after reading a lot of "good stuff" over the last few months.

My wife /I are planning on "retiring" (meaning having to get up every day, to earn a salary) sometime in the next 97 weeks.

I'll be reading this board with interest, not from the discussions on "retirement $$$ resources", but from a question of "what's next" (for the next 1/3rd of our life)?

My wife will not have a problem.  She keeps busy with her dogs (aka "fur kids" - since we will not have grandchildren) and planning her next vacation (more on that later).

For me, the situation is a bit different.  Starting working at age 14 (another story) and not really developing a network of friends/hobbies.  That is where I'll be interested in developing a "plan" for what I want to do after I leave the workforce (no, I do not want to continue to work - at least at what I'm currently doing).

Hope to have some meaningful dialogue as we go on....

/Ron...

 

[JPatrick]

Welcome to the board Ron. 
97 weeks sounds like forever 
If I had more of  math background I'd figure a way to express that in more humane terms for you.  Maybe someone else can help

 

[Dogcliff]

JPatric wrote:

...a way to express that in more humane terms for you.  Maybe someone else can help...

As a card carying member of the Humane terms Society, that would be just over 1/4 of a Dog year...


dc

 

[JPatrick]

JPatric wrote:
As a card carying member of the Humane terms Society, that would be just over 1/4 of a Dog year...


dc

Good Dog!! 
Keep that up and you will earn a spot on the high IQ roster, which is good, cause me and the other guy get lonely at times.

 

[dumpster56]

Welcome to the board Ron.
97 weeks sounds like forever
If I had more of math background I'd figure a way to express that in more humane terms for you. Maybe someone else can help

485 working days minus sick days and vacations lets see485-about 30 =455 of work days left??

 

[kaudrey]

Hi Ron,

On the hobbies issue, I can share my dad's experience. They retired at 57 about 10 years ago.

Before they retired, my dad's hobbies included tennis, golf, crossword puzzles, bridge, and woodworking. So, maybe he had a few more interests than you currently have. But...

Since retiring, in addition to the above, he is now: an excellent amateur photographer (including matting and framing his own pictures) - he has been in local shows; an expert rockhound (and he manages one of the local mines where people rock hunt); the treasurer of the local arts council; a cross country skier and snow-shoer (they moved to NH).

The point of this: keep an open mind, think about what things might interest you, and know that you will have plenty of time to explore and learn new things.

Good luck!

 

[rs0460a]

Thanks for all your replies.

As far as my "F.I.R.E.", I already have the first two letters (lucky me <and my wife>). I'm just not too sure about the "retire early" date.

I'm lucky in that my wife/me have the same feelings about $$$ prep for retirement. We're debt free, and feel confident in our future, as regarding income, since we have been saving/investing for retirement for the last quarter century.

Since we both suffer somewhat from the "bag lady" (or man) syndrome, we're not about to just walk away from our respective jobs (no, they’re not perfect. If they were, I would not be on this forum!)

However, there are some reasons to "stay" at this point (especially for me). Our company (bought out for the 4th time, over the last 27 years) has converted their annuity retirement to cash balance. If they still had the old plan, I would have retired last month (age 58). However, with the conversion to cash balance, they have a 5 year "transition" plan, where they give an extra "bump" ($$$) to us "senior folk". That is to end by the end of next year ('07). Is it worth it to stay? At this point, counting my salary/income, along with the extra credit, I would have to say “yes”.

However, today I heard that "they" expect a downturn in our market in '07, and expect layoffs of around 10%. I'm not union, so the seniority card is not in play. However, if they decide to "sweeten the pot", I may consider it. At my service level, I get 6 mo. salary. If you add 6 mo. in unemployment (no, it's not a lot, but it's better than nothing!) I'm already covered for 1 year (somewhat). If they decide to encourage folks to leave (as they have in the past), I would pick up an additional 3 months (plus vacation pay of around 6 weeks).

All in all, if everything "fell into place", I could be leaving much earlier than my current 97 weeks.

As far as "activities" in retirement, my wife /I have already talked about volunteering in a local "meals on wheels" (food service for shut-ins). In addition, I feel I have some value to add (of course in a volunteer, not professional role) to help the "young folk" prepare for their "financial future".

One area I find interesting is that fact as a "boomer", I'm also an "in between", as related to financials in retirement. The folks before me (meaning our parents/grand-parents) had pension programs. They did not have to worry about "control" of their retirement assets. The "kids" (e.g. 21-39) seem to have a lot more on the ball (according to the posts I read on the Diehard.org area). It's we "slightly mature" folk that are facing (generally) an "unknown" in this area. I feel confident I can invest/manage my "pot" for retirement (and also set a plan for my wife to follow), but there is a lot of folk that may not (nor care to) prepare and execute a plan. They are certainly "food" for the "investment sharks" (you know what I'm talking about). This is another area that is of interest, and may lead to a teaching/support "non-paid job" in the future.

Thanks (4 now...)

- Ron...