Let's Call it Semi-retiring...

[Takethisjoband]

Greetings, all. Glad to have found you. Here's my story.

I'm 52 and looking forward to taking a 32-year union tradesman's pension within the next few months. This won't carry me entirely, but I'm hoping that it will provide a way for me to start my own business and call a few of my own shots for a change. Despite my handle, "Takethisjoband," I really enjoy my work and the people I work for, but thirty plus years of waking early, commuting, and feeling as though I have too little free time is enough. I'm more than ready to do this.
I just wanted to say hello - can't wait to see what nuggets of wisdom are here.
Ron

 

[footenote]

Welcome TakeTJA! I took a similar path between 47 and today (56). I think you'll enjoy still being busy (but not as busy) and find calling "a few of my own shots" very satisfying. Congrats!

 

[Senator]

Welcome!

If you are a solid tradesman, there is a lot of work out there for you. Once you get started, you will not be able to take a break. And you will make more money too.

 

[sonny]

Welcome.!
I called it a day 5 years ago at age 50 from a big InformationTechnology firm and started my own company. Now i consult 2 days a week, and have the rest of the week to do my own things.. if you don't get caught up in the mode of making/saving more money, control how much time you work, .. .... its a wonderful life !

 

[38Chevy454]

Having your own business may be more time consuming, but can also be controlled if you are aware of this. Have fun on the new adventure, keep telling yourself it is semi-retirement, not second career. Welcome to the forum.

 

[daylatedollarshort]

We do something similar and enjoy it. Good luck on your plans.

 

[Options]

"Retirement" means different things to different people. Some love doing much of nothing a lot of the time. Others want to stay at least somewhat busy. Some are retiring from a job or field (my case), others are retiring to doing something new (also my case).

Personally, I see retirement as starting an exciting new chapter in my life. From most posts, almost everyone seems to find their own balance after a while. Trust that you will discover what's exactly right for you.

 

[MBAustin]

Welcome and congratulations! Lots of friendly helpful folks here so if you have questions, ask away - someone has probably been there, done that.

 

[Blue65]

I started a business at 46 after I was let go at Megacorp. It's been 4 years now, and I think it was the best thing that ever happened to me. I loved creating something out of nothing and almost make as much as I did at Megacorp. I would never go back....


Sent from my iPad using Early Retirement Forum

 

[Takethisjoband]

Friends, thank you for the input. Great response!
We've decided to go P/S. Here's why. P/S is actually just a life policy usually costing 10% of full benefit as premium. In our case that's $300 mo. Seems steep for the $1350 a month she'd get. A term life plan giving her that much for 20 years ($325 in benefit) costs just $124 mo. BUT...
That's just for 20 years. The P/S is for the rest of her life. And starting at age 52, when it's likely she'll live to 81 (the avg), she'll likely need 30 years of coverage. The average age that a guy dies is 76. We don't want to mess with finding something to fill the gap for that last 5-10 years. Only insurance can really do that, and buying it then is way too pricey.
You say, just buy term for 30 years instead. Now we're getting close enough to the same premium as P/S that we might as well let the pension hassle with it, take the reduced money and run. Any further comments? Thanks again in advance.
Ron