View Poll Results: At what age did you or will you retire?
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Age 49 or younger
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61 |
13.41% |
Age 50-54
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109 |
23.96% |
Age 55-59
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163 |
35.82% |
Age 60-62
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79 |
17.36% |
Age 63-65
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28 |
6.15% |
Age 66-69
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7 |
1.54% |
Age 70 or older
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8 |
1.76% |
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05-29-2020, 03:17 PM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,181
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I retired at 60. I first started looking seriously at retirement at age 53 (a little before joining this forum). Various calculators (including FIRECalc) and a Megacorp-provided financila advisor all said it was possible. But taken a closer look at our planned expenses, I decided I wanted a "comfortable" retirement living level, once that did not depend on me even having to work part time, or be required to take SS too early.
Given the amount of age discrimination occurring in the workplace, I did not assume that I could easily get a job. I also did not want to have to get a job requiring physical work - any good physical health I had left I wanted to spend on things for enjoyment, not for employment. So I kept working until my expected pension (fortunate to have one) grew to the required level, also building up a buffer of cash/investments assets well beyond what the calculators/planners said I needed.
While I was financially ready to go at 58, I decided to follow an "OMY Glide Plath" process for 2 years that I detailed here ( https://www.early-retirement.org/for...ans-81406.html), if you are interested. The result was me retiring in June 2018 at 60.
So far I am very happy with the results. I have a couple of friends who retired around the same time as me, but took on part time work. The coronavirus downturn is impacting their retirement. I still have very good health, and the market run up and fall down since I retired has helped reassure me that my plan is actually working. I have had offers for work from former colleagues, clients, and headhunters, but my head is just not into working full time or part time.
Of course, every person has their price... if someone came along with an offer of, say, no more than 8 hours a week, work from home, no physical work, paying $150 an hour or more, it would be tempting .
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
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05-29-2020, 03:17 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by 6miths
Yes agree on the strictness of the poll is a little artificial.
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Perhaps. But I want to avoid the never ending parade of "what ifs"... "What if I work a few hours a month at the golf club just for fun even though I don't need the money?" So I decided to make the definition as pure as possible.
Also I've noticed a trend of people claiming to be retired while continuing to work (they make up whatever definition of retired that suits them and claim to be retired even though they are working) and I want to exclude those people from claiming to be retired in this poll.
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05-29-2020, 04:26 PM
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#23
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
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I keep coming back to this... And pouting. I will never be retired under your rules unless we change where we live. And moving sounds like w0r%. Since our granny flat is on our home's lot - we'd have to tear it down or let it sit empty to qualify as retired under your rules. As I said before - I sure feel like I'm retired and am super bummed to find out that I'm not.
Ironically - my sister, who does about 40 hours of scheduled volunteering a month - on a rigid schedule, qualifies as retired under your rules. She has to set an alarm and show up places at specific times for specific shifts. No pay, does it because she likes it.
But I don't qualify... Pout.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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05-29-2020, 04:44 PM
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#24
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by rodi
I guess I can't vote... We have a granny flat. I cash a rent check once a month - and by your definition, that makes us not retired. Since we've had the same tenants for almost 6 years, and spend about 15 hours a year on maintenance average - it sure doesn't feel like work. But the income is part of our retirement income stream.
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Ok, out of respect for you I will allow this one exception...if you spend less than four hours per month maintaining a rental unit and you do no other paid work you can qualify as retired.
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05-29-2020, 04:57 PM
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#25
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Fully retired at 59. Income from investments and social security, no pension.
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05-29-2020, 04:58 PM
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#26
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Recycles dryer sheets
Join Date: Mar 2020
Posts: 296
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It’s hard to predict my future, but I answered 55-59 because I assume that I will want to do some part time work after full time work is over. Not so much for the income but more as an opportunity for this introvert to get some interaction with people. If I find volunteer work that fulfills that social interaction need, then retirement with no part time work will be earlier.
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05-29-2020, 05:17 PM
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#27
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Recycles dryer sheets
Join Date: Jan 2019
Posts: 62
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My plan is 55 + one week (so I can enjoy my birthday, achieve access to retiree health insurance, and then deal with the last week of work a bit more relaxed).
I have never really liked working, so when I don’t have to, I won’t.
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05-29-2020, 05:25 PM
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#28
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Recycles dryer sheets
Join Date: Feb 2013
Location: Boise
Posts: 431
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Both DW and I retired on Sept 2nd 2016. I was 57 and she was 59. Neither of us have worked a day since for a wage. She volunteers a little for the Ladies Golf Association where we play. Me, never, not volunteering, not working, love retirement.
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05-29-2020, 05:33 PM
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#29
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Recycles dryer sheets
Join Date: Nov 2015
Location: Upper Cape
Posts: 392
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Original plan was to retire at 55. I think I can now retire at 50.
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05-29-2020, 05:53 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Des Moines
Posts: 1,389
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I put the age I retired from my big job. I will probably always work a little bit, my choice.
__________________
Retired in 2013 and we are living the dream!
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05-29-2020, 06:36 PM
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#31
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Recycles dryer sheets
Join Date: Sep 2012
Location: Spring, Texas
Posts: 485
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Pretty well sat on retiring at end of this year.
I will be 61 year 5 months old
Lifes A Dance And You Learn As You Go....
gamboolman...
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05-29-2020, 06:41 PM
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#32
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Moderator Emeritus
Join Date: Aug 2007
Location: Northern Illinois
Posts: 16,602
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Retired at 58 years 8 months old on 4/2/2014. Submitted my resignation letter 10/1/2012, but my company wouldn't buy my stock unless I stuck around for a while. Luckily I only worked 1.5 days a week for the last 1.5 years, mostly remotely. Good transition into retirement.
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05-29-2020, 06:43 PM
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#33
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Moderator
Join Date: Nov 2015
Posts: 13,927
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Quote:
Originally Posted by JustCurious
I don't know what you mean by "on the side," the side of what? My answer would depend on whether that person earned money from the hobby. If you work at a hobby and earn money from that hobby then I would not consider you to be retired.
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On the side of being retired I guess. On the side of doing what I want, when I want, and whether that hobby brings me in $1 or $10000 it makes zero difference in whether or not I'm "retired" to most people. (I just happen to do it because I enjoy it).
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05-29-2020, 07:03 PM
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#34
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Thinks s/he gets paid by the post
Join Date: Dec 2018
Location: DuPage County IL
Posts: 2,730
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planned for 50, couldn't get the ducks lined up so went to Plan B and retired at 55. good-bye-happy retirement party on my 55th birthday, turned in keys and got next-to-last paycheck (2-week delay) and said final goodbyes the next day. that was a friday. saturday morning we took off on a 13-week RV trip in our motorhome. was totally relaxed by the time we returned home. most excellent memories.
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Dispatcher, then shift supv, then administrator for a regional 9-1-1 call center
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05-29-2020, 07:12 PM
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#35
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Full time employment: Posting here.
Join Date: Feb 2018
Location: An Un-Organized Township of Maine
Posts: 801
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My grandparents, even in their 90s, had rental properties. That was the example that I saw of 'retirement' when I was a growing up.
I got my pension when I was 42. It is enough to support us, and to continue investing. We live on 75% of my pension, and we maintain rentals.
You may invest in whatever you want to invest in, I choose to invest in rentals.
__________________
Retired at 42 and I have been enjoying retirement for 18 years [so far].
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05-29-2020, 07:28 PM
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#36
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,660
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My wife and I were both age 50. Probably should have planned better as we just missed the 49 and under category!
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05-29-2020, 09:21 PM
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#37
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 155
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I retired at age 57 and 28 days. DW was 58. Not a single day of anything resembling work since then.
Live on a nice pension from megacorp and withdrawals from IRA. Will take SS when we hit 70. We could have quit work when I turned 55 but wanted some buffer.
It’s been about 2.5 years and not one second of regret or boredom.
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05-29-2020, 09:29 PM
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#38
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Full time employment: Posting here.
Join Date: Sep 2012
Location: Albuquerque
Posts: 842
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I retired the month I turned 62. I was eligible to retire with pension at 59 1/2 in 2015 but was worried that I might not have quite enough money to do all the things I wanted to, especially given the predictions at the time of another big recession. My older brother warned me that I had plenty and would regret working those few extra years and I still remember his words and wonder whether this COVID-19 mess or some other health issue will impact my enjoyment of retirement and prove him right. But I have no real money worries and could live on pension and Social Security alone because I waited, just dipping into investments for occasional large purchases. No need or desire to ever work again.
__________________
Retired on 9/30/2017 at age 62
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05-29-2020, 10:00 PM
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#39
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Full time employment: Posting here.
Join Date: Mar 2006
Posts: 524
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My wife and I retired from government jobs at ages 56 and 58 with pensions. We each qualify for social security. We have savings sufficient to meet our needs if necessary. Until age 67 I continued doing lucrative work for <=8 hours/wk, remotely at times of my own choosing. I've considered myself retired since age 58 but I've answered 67 for this survey. Any money I earned after age 58 is more likely to be spent by our kids than by us.
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05-29-2020, 11:11 PM
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#40
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,298
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Hardly worked for others at all, but did start buying rentals. Was going to sell them all and retire but in 2008 the real estate market (but not rents) crashed, so kept renting and cashing the checks. Did buy a place in SoCal in 2010 and have spent the dreary 6 months of Oregon down in the sunshine since then. Don't need the money, but don't want to jerk the paycheck away from the man who cares for our places, so we keep running up the score. 70 now and at this rate we may never retire.
Or maybe we will - considering selling about 3/4 of the units to others and selling 1/4 to the gent whose income I feel responsible for. If I price it right (well below market) and don't charge a down payment and keep the interest low he could pay us over a 30 year contract and still pocket as much as he's been making. Maybe have the title be a TOD as 30 years feels unlikely.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
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