Worst Possible Retirement Date?

[dex]

an older guy, dead, with his face planted in his retirement cake on the front seat. "Tomorrow is not guaranteed"

That should be a photograph for this board.

 

[ziggy29]

Talking with a fellow at work last week, also a retired police officer, he told me of a call that affected him the rest of his life. In his early 20s he got a call for a car stopped with the engine running. The car is stopped in front of the owner's house. Looking in, he sees an older guy, dead, with his face planted in his retirement cake on the front seat.

"Tomorrow is not guaranteed" is the lesson he learned.

Good point. As OCD as I can be about saving as much of our cash flow for retirement savings as we can, I also try to take this into account and not be *too* miserly today, particularly if something can improve our enjoyment of life. I don't want to put ALL our eggs in the "someday" bucket when we don't even know we'll be there "some day." We *do* know we're here today, so it's important for me to find a balance between
tomorrow and today.

 

[copyright1997reloaded]

Like many here, I will be one to look back on this period and say...'yup, I'm one of the idiots that retired during the financial crisis of 2008.' Oh well, just gonna party till the money runs out. Got enough cd's to last me a good 15 to 18 years. Plus SS will start in 8 years and that will help stretch out my portfolio. And who knows, maybe this mess will get straighten out somewhere along the way and we all recoup our stock losses. Not counting on it though. After all......I'm the born loser.

I became retirement eligible May 2008, which happens to coincide with my net-worth all time high. It's been straight down from there, in the order of 5 large.

Fortunately and unfortunately I put off retirement "till the end of the year" and/or "until I could find a position with less travel/less stress". The fortunately part is I still have a good paying j*b (at least as long as it lasts given deteriorating economic conditions). The unfortunately part is I still have a j*b with long hours and lots of travel and with additional "stage fright" in terms of RE. (Although I am RE I am fairly young (early 50's) with a young child.)

 

[bbbamI]

Well I retired last October and this is the first year that my net worth is going to be lower than the year before. But I'm also a year closer to death.

Last month our portfolio was down enough to the point that we figured we'll have to die one year earlier than planned. Hmm, wonder how that will work?

 

[BunsGettingFirm]

Talking with a fellow at work last week, also a retired police officer, he told me of a call that affected him the rest of his life. In his early 20s he got a call for a car stopped with the engine running. The car is stopped in front of the owner's house. Looking in, he sees an older guy, dead, with his face planted in his retirement cake on the front seat.

"Tomorrow is not guaranteed" is the lesson he learned.

Question: If the guy's face was planted in the cake, how could your friend tell that the cake was a retirement cake. It could have been any cake.

 

[73ss454]

Question: If the guy's face was planted in the cake, how could your friend tell that the cake was a retirement cake. It could have been any cake.

Do you really believe this stuff.

 

[NW-Bound]

Got enough cd's to last me a good 15 to 18 years. Plus SS will start in 8 years and that will help stretch out my portfolio.
...
After all......I'm the born loser.

Stop banging your head and call yourself a loser. Do you really expect sympathy for a guy with 15 yrs worth of CD?

 

[NW-Bound]

Talking with a fellow at work last week, also a retired police officer, he told me of a call that affected him the rest of his life. In his early 20s he got a call for a car stopped with the engine running. The car is stopped in front of the owner's house. Looking in, he sees an older guy, dead, with his face planted in his retirement cake on the front seat.

"Tomorrow is not guaranteed" is the lesson he learned.

I have first hand knowledge of this incidence at one of my former megacorp employers. This guy retired on Friday. Got heart attack, died on Sunday. We heard the news at work on Monday.

And so many croaked while at work, I lost count. This is an "established" megacorp, where my age (early 50s) is the mere median age . Gee, people dropped like flies there.

My friends and I said our goal was to get out of there alive.

PS. I am out, they are still stuck there.

 

[DroopyDog]

Last month our portfolio was down enough to the point that we figured we'll have to die one year earlier than planned. Hmm, wonder how that will work?

That reminds me of an old New Yorker cartoon: A older couple is doing accounting/running figures in their living room, and the man says, "If we take a late retirement and an early death, we'll just squeak by.."

 

[kumquat]

I always thought that in an ideal world my money and my time on earth would run out at the same time. I'm on track for this, IF I can arrange to die next Wednesday.

 

[davemartin88]

Last day at Megacorp was 10/3 so I seem to have nailed this one! LOL I'm rationalizing that since I received some parting gifts (severance and some long term bonus money that will pay out for a year or two) that I'm really not retired for about 3 more years when that money runs out at the current spending rates. By then, we plan to move to a much cheaper area to live and my wife will have a very small pension that will cover most of her medical benefits. We also have a rental house we'll sell at a reasonable price so net is that we don't plan to start dipping in to the actual retirement savings for at least 3 more years so maybe 2008 won't be such a bad starting spot for us!

 

[Moemg]

I also retired in this mess and I do not regret my decision . I was ready physically and mentally to retire . I've also seen many people die on the job and I was determined that was not going to be me . My portfolio has taken a major hit but I had a lot of padding in my budget and I'm going to opt for SS at 62 .

 

[Dawg52]

Stop banging your head and call yourself a loser. Do you really expect sympathy for a guy with 15 yrs worth of CD?

I'm telling ya, that's the only thing that is getting me through this mess. I am sleeping better at night knowing I have the cd's. Oh well, I think I've adjusted my mind to having a lower net worth.

BTW, the guy that I replaced at my old company retired at 65 and was dead at 66. He was down town having breakfast at some business club he belonged to and had a heart attack. He was literally face down in his plate of food. Amazing how many stories like this we hear of.

 

[W2R]

BTW, the guy that I replaced at my old company retired at 65 and was dead at 66. He was down town having breakfast at some business club he belonged to and had a heart attack. He was literally face down in his plate of food. Amazing how many stories like this we hear of.

Now that I have turned 60, I notice stories like this a lot. And here I am, FI but still w*rking. It is so tempting to just go in and quit today! But in another year and three weeks I will have lifetime medical, so I might as well wait.

 

[Rich_by_the_Bay]

Now that I have turned 60, I notice stories like this a lot. And here I am, FI but still w*rking. It is so tempting to just go in and quit today!.

I hear ya'. I'd go part-time tomorrow if circumstances permitted.

It's that "part-time" to "no-time" transition that confuses me, but that's still a few years down the road.

Feel like I've been nibbled by a black swan. Don't care to find out what it feels like to get fully bit, so we march on.

Heck, temps are in the 60s and 70s, blue skies, quick 9 holes planned for later today, weekend awaits.

Jeez, just read my post and I'm starting to sound like UncleMick heh heh heh.

 

[Rustic23]

If you have the money to retire today, seems like today is the BEST time to retire. Chances are your nest egg has no other place to go but up!

 

[W2R]

I hear ya'. I'd go part-time tomorrow if circumstances permitted.

Sounds like work has increased enough that you need to change your sig! Sorry to hear that.

It's that "part-time" to "no-time" transition that confuses me, but that's still a few years down the road.

Feel like I've been nibbled by a black swan. Don't care to find out what it feels like to get fully bit, so we march on.

Money isn't everything - - sure, we need the necessities, but how much are we willing to put up with, in order to ensure luxuries? Not much, in my case, though I think some people really feel a need for luxuries after ER.

On the other hand, I do view good medical care as a necessity. Some might consider that to be a luxury.

Heck, temps are in the 60s and 70s, blue skies, quick 9 holes planned for later today, weekend awaits.

Jeez, just read my post and I'm starting to sound like UncleMick heh heh heh.

pssst!! Wellesley! Temperatures are about like that here, too, with blue skies, but the forecast is 50% rain. So, I brought a raincoat to work and felt pretty stupid about doing that. I will get off after nine and a half hours here, but I need to go home and do laundry and dishes and fix dinner. The weekend is another matter, since the weather forecast is great and Frank always comes up with something or other that is fun for us to do. I'll be thinking of you out on that golf course this afternoon and hope you have a great game!

 

[Marquette]

I hear ya'. I'd go part-time tomorrow if circumstances permitted.

Tampa, FL (10% retired)

quick 9 holes planned for later today

Yeah, but what are you going to do after you're done with your colonoscopy patients?

Livin' the dream baby, livin' the dream....

 

[Rich_by_the_Bay]

Tampa, FL (10% retired)

Which is precisely why I get to play golf this afternoon...

Workin' on the image: fat cigar, big old Cadillac, ample belly, Ivy League hat and on thinking mostly about the 19th hole.

 

[NotReady4Purple]

Well I still planning on retiring in 5 weeks at age 55.

So - count me as another one planning on retiring in the worst of times. I plan to be retired for 30 years or more - so the investments that are down now will have time to recover.

H and I have checked and re-checked and we're OK - both from a short-term cash flow and long term asset growth position. The stock market still makes me nervous - but I just have to stop checking it so often.

 

[ziggy29]

Well I still planning on retiring in 5 weeks at age 55.

So - count me as another one planning on retiring in the worst of times. I plan to be retired for 30 years or more - so the investments that are down now will have time to recover.

H and I have checked and re-checked and we're OK - both from a short-term cash flow and long term asset growth position. The stock market still makes me nervous - but I just have to stop checking it so often.

Just make sure you have a few years of investment income in "safer" stuff so you won't likely be in the position of having to sell stocks very low if this continues a little while longer.

1975 was a much better time to retire than 1973, and October 2008 is a much better time to retire than October 2007, assuming the math still works.

 

[Linney]

Now that I have turned 60, I notice stories like this a lot. And here I am, FI but still w*rking. It is so tempting to just go in and quit today! But in another year and three weeks I will have lifetime medical, so I might as well wait.

'You don't know what you've got til it's gone...."

The MegaCorp that I work for decided last year to discontinue offering lifetime medical to retirees. I had completed 23 of the required 30 years to get that benefit. Now its gone and I really -really- miss it.

W2R, count yourself as lucky to still have this option!

--Linney

 

[Grep]

It seems ironic and counter-intuitive that today - after many of us have suffered huge losses - would be a better day to retire than a year ago. With the damage and uncertainties around us, it's probably not really true in most cases.

However, if during and after this trial by fire, the math STILL works out, then it's certainly a good sign. Strangely enough, that's the case for me. According to Firecalc, I'm far better off now than I was a few years ago, despite a precipitous drop in net worth, mostly due to a shift from an ultra-conservative financial stance to one in which stocks play a much heavier role. My own spread-sheets say the same so long as I add slightly to the risk premium of stocks (conservatively estimated) going forward.

Still, I expect I'll keep working a few more years until the worst of these times are behind us.

 

[NW-Bound]

Still, I expect I'll keep working a few more years until the worst of these times are behind us.

In other words, you could, but wouldn't. Chicken!




Just teasing. One wants to be safe...

 

[cjking]

Not even close between these two, at least if you were properly diversified (large cap, small cap, international, REITs, emerging markets and bonds).

Most people who entered 2000 properly diversified lost relatively little even if the headline indices got whacked hard.

Everyone who entered 2008 properly diversified got crushed.

I will say that if you can still live off of 4% of your portfolio today, it's probably not a bad time to start retirement. One year ago, on the other hand...

The person who retired in 2000 has also been hit by 2008.