The flurry of ERs

[dunc0029]

First of all, congrats to you all!  I'm very jealous with many more years of corporate malaise in front of me!

Has anyone had this same head trip?   I know that I could comfortably economically walk away from the job -- DH is retired, has a good pension, we have savings, IRAs, deferred comp, Roths, stocks up the kazoo, house paid for, covered health insurance but I just can't bring myself to give it up.  It this a long process to go through until you feel confident enough to throw in the towel?

I suppose it depends on whether your hesitation is the "do we have enough?" or the "am I ready to retire?" variety.  I had a coworker who claimed he just wasn't ready to be done working (stated several times over the last few years).  He was at normal retirement age.  He had extended time off with hip surgery, which forced him to be away from the office.  He discovered he really liked it and retired a few months later.    If it's for financial reasons, I expect that's a tough call.  You could always stay longer and have that much bigger of a nest egg, but you're also missing out on that free time.  From what you said, it sounds like you're set, though. Give yourself time, take a trial vacation and see how you like it.

 

[greenhm]

Wife and I "check-out" July 31, 2006

The count down is on.... though it is still moving along waaay to slow for me.

(best I not wish my life away)

 

[Cb]

I gave my notice the first week in January, went to a 3 day part time schedule on Monday of this week, and will retire altogether in ~2 months.

Cb

 

[astromeria]

And about the Australia Trip, have any of you all travelled with OAT (Overseas Adventure Travel)?  This will be our first try with them.  Any experiences??

I know 2 couples who went on the OAT trip to Australia--they all loved it. One couple went on the extension to Fiji as well--loved that, too. Another friend has been on something like 8 OAT trips--loved them all. DH & I went on the OAT trip to India--enjoyed it very much, especially the extension to Kerala, although we're a bit more comfortable traveling on our own--and I have no other travel group company experiences to compare to OAT.

ASIDE--we visited the temple that was bombed in Varanasi the other day, but perhaps that wasn't so unexpected. There was heavy security and we were searched before we entered the temple--the only place that happened to us on our whole India trip, other than airports.

 

[Martha]

So setab is just retired and for shorttimers we have: Retire Soon, Johnny M, CJ, Dex, Alta Red, Rustic23, Wallygator, yaker's wife, StarryNight, cb, gReeNy, Sherly's DH, and Bruce1. Ginger and I are waffling.

 

[cute fuzzy bunny]

MMMM...I love waffles.

So does Ted, but he prefers them when they're still frozen.

Grown large, our community has...

 

[setab]

Has anyone had this same head trip?   I know that I could comfortably economically walk away from the job -- DH is retired, has a good pension, we have savings, IRAs, deferred comp, Roths, stocks up the kazoo, house paid for, covered health insurance but I just can't bring myself to give it up.  It this a long process to go through until you feel confident enough to throw in the towel?   

I may pick something else up part time, but only if it fits one of the following two requirements: It has to be something I really want to do for fun, or it has to be enough (translate a lot) of money so that it justifies the use of my free time. You sound to be in a lot better shape than I am and I am convinced I will be fine. The real key is to quit comparing yourself to others and control your own spending. My pension will be about half of my salary and I haven't felt this financially secure in years. Run, do not walk, for the door!

setab

 

[AFloat]

Add me to the list of ER's. My DW and I have been self employed computer consultants for the last 8 years and my last contract ended in January and my wife's contract ends next week. We're both in mid-50's. We've moved onto our boat and will put the house up for sale next month.
I'll work again, someday, maybe, but want to take a few years off first.

 

[setab]

I wish I could get my wife to move onto the boat. Maybe if we had a boat she'd be more interested Seriously, I'd like to sell the house, etc, buy a used RV and travel around for a few years, but I haven't convinced my wife yet. I think what you are doing sounds fabulous!

 

[mb]

Congratulations to all,

So setab is just retired and for shorttimers we have: Retire Soon, Johnny M, CJ,  Dex,  Alta Red, Rustic23, Wallygator,  yaker's wife, StarryNight, cb, gReeNy, Sherly's DH, and Bruce1.  Ginger and I are waffling.

The April issue of Smart Money magazine has an article on retirement.  Nothing particularly new in it, just one of those articles they seem to recycle every couple of years, except that it had one little factoid that surprised me.  According to the article "about 20 percent of baby boomers . . . already consider themselves retired."  The source was a Merrill Lynch survey.  It looks like the folks on this forum may be driving the survey results

Seriously, I'd like to sell the house, etc, buy a used RV and travel around for a few years, but I haven't convinced my wife yet.  I think what you are doing sounds fabulous!

I mentioned this possibility to my wife.  So far she seems to view selling the house and traveling for a few years with the same enthusiasm as living under a freeway and keeping your possessions in a grocery cart 

MB

 

[Rich_by_the_Bay]

I have already paid all my fees for this year, so I will keep my license at least through the end of 2006. I will probably keep it after that for a while just because, but I have no plans to practice at this point.

Setab,

Congratulation (he said with more than a little envy ). May I ask just what it is you used to "practice?" Law, medicine, accounting, the occult?

Just curious since, being of the medical persuasion, I love learning from the fresh experience of others who are making the transition.

 

[shorttimer]

I have one foot out the door and the other on a banana peel.

No date yet but very close. Funny thing, they know I am ready to make the exit, recently raises were about 2% but mine was over 5.

Running the numbers once again.

 

[Nords]

No date yet but very close.  Funny thing, they know I am ready to make the exit, recently raises were about 2% but mine was over 5. 

Five months before I retired I was awarded a 5.7% pay raise. That means my pension (and its COLA) was boosted by 5.7% for the rest of my life.

Your tax dollars at work. In my case I prefer to think of it as finally clearing the receivables for services rendered.

It wasn't perceived to be a retention bonus.

 

[setab]

Rich,

Law, I guess, although the last 27 years I have worked for the Army so maybe it is more like variations on a bureacratic theme. That's one of the reasons I'm getting out, although not the main one. Before that I practiced a few years in a general practice, before that I was a journalist, before that...aw who cares. Anyway, I had someone just yesterday ask me if I wanted to handle a couple of cases for them and I said no thanks. On the other hand, a friend who is smoozing a would be client asked me to take them to a great local restaurant and wine and dine the guy for him. Now your talking, although I feel so cheap and used taking money for that!

setab

 

[Rich_by_the_Bay]

On the other hand, a friend who is smoozing a would be client asked me to take them to a great local restaurant and wine and dine the guy for him.  Now your talking, although I feel so cheap and used taking money for that!

Hope you got over it .

Someone on another board suggested to me that I do some expert witnessing in semi-retirement, maybe a case every couple of months. Sounds a lot like work to me, but maybe at that time it would be interesting and rewarding. All options open.

Congrats on the retirement and best wishes. Share what you learn here.

 

[cj]

Funny thing, they know I am ready to make the exit, recently raises were about 2% but mine was over 5. 

At the end of last year, my boss (knowing I am headed for the door) gave me a smaller-than-normal raise, but a bigger-than-normal bonus. I thought that was pretty nice of her. There is no pension involved, so I made out pretty well on that one. Bonus goes in the bank, it will be my "salary" after May 1.

CJ

 

[Martha]

Hope you got over it .

Someone on another board suggested to me that I do some expert witnessing in semi-retirement, maybe a case every couple of months. Sounds a lot like work to me, but maybe at that time it would be interesting and rewarding. All options open.

Congrats on the retirement and best wishes. Share what you learn here.

Not a bad idea, especially if you don't have to do much prep before hand.

I have testified as an expert witness in a few trials and it was kind of fun.

 

[KB]

So Martha....

What does your timetable look like these days?

 

[Martha]

flip flop flip flop. I hope early summer. Or I just fade slowly away so that no one really knows when I am done. My work hours are steadily decreasing and our new president wants to talk compensation with me.

 

[KB]

Early summer is soon. Maybe the conversations with the new President will help you decide.
You'll have lots of garden time if you leave sooner than later.

 

[HFWR]

The world needs more flowers, but likely won't miss one lawyer...

 

[brewer12345]

The world needs more flowers, but likely won't miss one lawyer... 

Oh, I don't know: a compassionate bankruptcy lawyer can't be a bad thing.

 

[cute fuzzy bunny]

Wear your flip flops to the meeting with the new president. Tell him you want to work half as much and get paid twice as much.

When he says no, tell him to go %$@# himself.

All your problems solved, in one swell foop.

 

[Martha]

Well I met with our President. He basically doesn't care how much I work as my compensation is tied to my hours and revenues. He was concerned about whether it is working for me and my clients. He was also concerned about succession for when I leave. So no excuse to march off in a huff.

I think I'll go home.

 

[setab]

Martha,

Guess you'll have to make the call youself. Let me tell you, I am the most indecisive person, maybe, there is and my decision to leave was quick, painless and the easiest choice I've ever made. And, I haven't looked back once. Or, you could try CFB's approach.

setab