Intro and thoughts on retirement
We are Bill and Alice, she's 53 and I'm 56. I resigned in March 2012 and she retired in May 2012. Retirement at our age was not planned, it just occurred through downsizing and our organizations restructuring pains during this current economy.
I tripped across this website, joined and believe I have hit the best thread of all and after reading everyone's take on retirement (however you got here or there) and I agree with many views about what becomes important or logical once you arrive at a certain age. The early years of work are spent struggling and you wonder if you'll ever drive something other than a crummy car, eat cheap food, drink cheap beer and liquor, live in lesser home's, and the list of standards goes on and on. Miracle's occur suddenly one day when most of us realize how much "STUFF" we have acquired.
On downsizing, my advice at this point is to keep the really good quality stuff that you treasure and utilize daily or often then enjoy it until you no longer need it. As a result our home is furnished with a lot of good quality auction items, a few antiques, and mostly inherited or passed on items from friends and family.
As for saving, I lost in a 401K repeatedly, she never participated in her 401K, therefore we never managed to save as we should have, however we did save a little salary and have a couple of CD's, some savings in the bank, some nearly worthless stocks, some United States Savings Bonds that are still earning at 4 percent interest. I've got an old 403b annuity that continues to earn 6 percent. The only other retirement income I can look forward to is my wife's retirement, our collective social security retirement if it continues to exist, and then my own annuity when eligible at 59.50. There may be an inheritance from parents but I'm not counting on that.
We recall saying that we would never be able to retire and that it was a worrysome thought about how it would be for us. Again, it came too early but in spite of ourselves and our decisions, we feel we will be alright and have the bases covered as far as monthly living expenses, health care (who knows about that
) food, fun and travel. I've dropped out, could care less about the new iphone, or shopping to keep up. From this point forward it's all about what you must have to live, not what you think you have to have to live. Life becomes very simple and so far we are loving it!!