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05-02-2019, 08:54 AM
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#81
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Thinks s/he gets paid by the post
Join Date: Aug 2017
Location: Champaign
Posts: 4,689
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Quote:
Originally Posted by Austin704
My big fears are 1) not taking advantage of my peak earning years to stash away even more money and 2) reduced Soc Sec benefits because of early retirement. I worry that 10+ years in I will wish I had worked longer when I had the chance.
My question is for those who retired early during their peak earning years and are more than 10 years into retirement: Do you regret not having worked longer to lay in more money and maximize SS benefits? Any other financial regrets of cutting it short and leaving money on the table?
Thanks!
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I don't know your skill set, but you should take a look at this option. My DH consults from home and has all the freedom he desires, but has a skill set that is valuable enough to consult. This company will contact you for various jobs that can last an hour, or two months. You can accept or deny at any time, nothing is ever held against you. You can give them dates you're available if you're vacationing or have other commitments, they work with you at every level. They pay on time, they tell you the hourly or project rate you'll get ahead of time. DH has used this company for years.
https://www.yourencore.com/
__________________
"Do not go where the path may lead, go instead where there is no path and leave a trail."
Ralph Waldo Emerson
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05-02-2019, 10:01 AM
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#82
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,002
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I retired at 58 and quickly became bored. I have worked part time the past 6 years at a job I loved. Unfortunately it just ended.
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05-02-2019, 03:27 PM
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#83
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,635
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I responded back when this thread started that I wish I'd retired a bit sooner. I don't know if others have made these points (haven't read the entire thread) but I do have a couple of points to add:
- I wish I'd waited to take SS rather than taking it at 62. This has zero impact on how well we live now as the SS gets saved/invested. But the potential value to my surviving spouse would be greater if I'm the first to go had I waited until FRA or 70.
- I wish I'd opted for the full survivor benefit (55% of my pension) for her rather than 40%. She'll be fine regardless, but theoretically there would be more to leave to kids/ grandkids/charity if she had a larger guaranteed income stream.
__________________
friar1610
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05-03-2019, 09:20 AM
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#84
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Full time employment: Posting here.
Join Date: Aug 2015
Posts: 987
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You can always suspend your SS and restart after FRA at any time, if not yet 70.
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05-08-2019, 05:57 AM
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#85
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Dryer sheet wannabe
Join Date: Jan 2018
Posts: 17
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This quote came from these boards and has deeply made an impact on me... thank you original poster. I am 4.5 years from early retirement but I feel this quote is very appropriate:
"One of the key truths I've learned is that when you get to a certain age, you have*time, you have your*health*(or what's left of it), and you have*money. Past a certain point, you are trading off time and health in order to have more money, and you need to ask yourself if that's really what's most important to you"
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05-08-2019, 06:44 AM
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#86
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
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Quote:
Originally Posted by Byb747
This quote came from these boards and has deeply made an impact on me... thank you original poster��. I am 4.5 years from early retirement but I feel this quote is very appropriate:
"One of the key truths I've learned is that when you get to a certain age, you have*time, you have your*health*(or what's left of it), and you have*money. Past a certain point, you are trading off time and health in order to have more money, and you need to ask yourself if that's really what's most important to you"
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That was CoolRich59 http://www.early-retirement.org/foru...ml#post2002010
Quote:
Originally Posted by CoolRich59
Very well said.
Don't know how the OP feels about it, but I'm the type of person who sometimes needs this kind of undiluted straight talk.
As Red Badger says, one of the key truths I've learned here during my short time here is that when you get to a certain age, you have time, you have your health (or what's left of it), and you have money. Past a certain point, you are trading off time and health in order to have more money, and you need to ask yourself if that's really what's most important to you.
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05-08-2019, 07:36 AM
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#87
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Thinks s/he gets paid by the post
Join Date: Jan 2005
Location: northern Michigan
Posts: 2,213
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Quote:
Originally Posted by Byb747
"One of the key truths I've learned is that when you get to a certain age, you have*time, you have your*health*(or what's left of it), and you have*money. Past a certain point, you are trading off time and health in order to have more money, and you need to ask yourself if that's really what's most important to you"
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+1, very true. We all just need to decide where that "certain point" is for us.
A lot of people just keep working (beyond the point that they would need to) without really seriously considering this truth, which I think is a mistake. You can never get back that time.
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05-11-2019, 06:06 PM
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#88
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Recycles dryer sheets
Join Date: Aug 2016
Location: Austin
Posts: 182
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Quote:
Originally Posted by Rianne
I don't know your skill set, but you should take a look at this option. My DH consults from home and has all the freedom he desires, but has a skill set that is valuable enough to consult. This company will contact you for various jobs that can last an hour, or two months. You can accept or deny at any time, nothing is ever held against you. You can give them dates you're available if you're vacationing or have other commitments, they work with you at every level. They pay on time, they tell you the hourly or project rate you'll get ahead of time. DH has used this company for years.
https://www.yourencore.com/
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Great tip! Thanks...
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05-12-2019, 05:13 AM
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#89
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gone traveling
Join Date: Sep 2018
Location: Washington, DC
Posts: 575
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Quote:
Originally Posted by imoldernu
The fallback we didn't have to take, but a big part of the decision.
And this:
The spreadsheets make real, what the calculators can't do.
Retired 30 years ago @ age 53, and no regrets. Longish story on the link...
Best wishes for the coming 40 years.
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I don't want this to sound condescending, negative or anything of the sort... I am always impressed when reading your posts. At 83 (1 year older than my Dad), your posts make more sense, have more information, and provide me more insightful benefit than most here. My Dad, unfortunately, no longer has that mental capability. It's one of the reasons I am working so hard to retire in the next few years.
Thanks!
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