Hello,my name is Bill and I just retired!Actually I gave notice a couple weeks ago and my actual retirement is Jan 1.I’m 63 and have been waffling on retiring since I turned 62.I worked for the same company in the logging industry for 35 yrs.I was thinking April so Cobra would last till Medicare but physically and mentally I just hit the wall so I give the minimum notice basically. So now I’m three months out for receiving benefits(SS,pensions,annuity) which is no big deal.So my only regret is that I didn’t get the ball rolling sooner on those.My post retirement income will be roughly 50k a year.My working income was aroung 85k.No debt except a $350 mortgage(i refinanced to thirty years last year).Utilities are kinda high in our small Alaskan town.I have no plans to move.My sweetheart of twenty years has been on SS disability for fifteen yrs for MS.We’re not married.A life well lived and a couple failed marriages,late to the 401k game etc didn’t do much for my portfolio.But i’m confident I’ll be just fine.I have more stuff than I need and will curb impulsive spending.It’s all just starting.A new chapter in our lives.I hope I can gleen some wisdom from the group.And I should add I’m ignorant about financial management,seriously,I’m an idiot.
Impulsive-ish retirement
- Thread starter Imaginos
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Welcome, Imaginos. Congratulations on your retirement and we look forward to having your contributions to our community!
Out-to-Lunch
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Welcome aboard!
Welcome to the forum, Imaginos. I'll assume you've used FIRECalc and looked at our list of questions.
I'll just add that you certainly live in a very beautiful area. I've not been to your town, but I've spent some time in and around Sitka, and just love it.
I'll just add that you certainly live in a very beautiful area. I've not been to your town, but I've spent some time in and around Sitka, and just love it.
ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Welcome and congrats, you will be moving to Florida before you know it. LOL. Was 78 and sunny with a cloudless sky here today in NE Fla.
Sunset
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Welcome.
I going to mention the longer you delay SS, the larger it will be per month.
Would it be possible to marry your sweetheart and then claim SS based on her getting it ?
I going to mention the longer you delay SS, the larger it will be per month.
Would it be possible to marry your sweetheart and then claim SS based on her getting it ?
MRG
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Welcome to this wonderful place. I spent 10 years logging, running sawmills and logyards, and as a NHLA inspector. Eventually I got an opportunity to get out and went into programming.
Financial management is a lot simpler than most people realize. There's a wealth of information here you'll pick it up. Start slowly and you'll get it right.
As someone mentioned your SS grows by 8% every year you delay it. Can you delay a while?
Financial management is a lot simpler than most people realize. There's a wealth of information here you'll pick it up. Start slowly and you'll get it right.
As someone mentioned your SS grows by 8% every year you delay it. Can you delay a while?
OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Welcome. None of us was born with financial knowledge. That doesn't make us idiots and it doesn't make you an idiot. My standard "start here" reading list is:
"If You Can" by William Bernstein https://www.etf.com/docs/IfYouCan.pdf (free 16 page download)
"The Coffee House Investor" by Bill Schultheis https://www.coffeehouseinvestor.com/ (This is Bill's first book; read it before reading his second one.)
"The Bogleheads Guide to Investing" by Taylor Larimore et al https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/0470067365
"Winning the Loser's Game" by Charles Ellis https://www.amazon.com/Winning-Losers-Game-Strategies-Successful-dp-1264258461/dp/1264258461 (get the latest edition, May 2021)
"Your Money and Your Brain" by Jason Zweig: https://www.amazon.com/Your-Money-Brain-Science-Neuroeconomics/dp/0743276698
Also here: https://www.bogleheads.org/ start with the "New To Investing" topic on the top left.
Braumeister,that list of questions is a buzzkill!I haven’t done or thought about half of those things but it’s good stuff to consider.Firecalc?Rocket science.I’ll wing it till I have solid numbers.
ShokWaveRider, i’ve been to Florida,nice place,great weather,but I’ve lived in (mostly rurai)Alaska for over fifty years and i’m afraid it would be too much of a culture shock.
As for Alaskan weather,at least we live in the warmest part of the state.
ShokWaveRider, i’ve been to Florida,nice place,great weather,but I’ve lived in (mostly rurai)Alaska for over fifty years and i’m afraid it would be too much of a culture shock.
As for Alaskan weather,at least we live in the warmest part of the state.
athena53
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First of all, congratulations and welcome! I retired at 61 and one week elapsed between the day I called DH and said, "I think I'm going to quit my job on Monday" and my last day in the office. That was 7 years ago and life is good.
Marriage is a dicey proposition for our age group. Either partner can be held legally responsible for other other's unpaid medical bills, and joint income and assets are considered if one needs Medicaid for LTC. I'm also not sure that SS Disability, which his lady friend is collecting, carries spousal benefits.
Marriage is a dicey proposition for our age group. Either partner can be held legally responsible for other other's unpaid medical bills, and joint income and assets are considered if one needs Medicaid for LTC. I'm also not sure that SS Disability, which his lady friend is collecting, carries spousal benefits.
I started a small arborist business this past year. I test software at my day job. Its dangerous work, the logging business. I have little to no risk of dying in IT. I might end my logging moonlighting before it ends me. Doesn't pay as well as the IT work either. Not sure why I ended up in this position.
street
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I wish both of you well in retirement. You won't get any better sound advice then from these people right here.
Sure, wouldn't hurt sharing some of your adventures of Alaska also. I'd be your number one follower.
Sure, wouldn't hurt sharing some of your adventures of Alaska also. I'd be your number one follower.
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skyking1
Thinks s/he gets paid by the post
Welcome aboard! I have been in your small town to visit a tugboat operator, many years ago.
Small world
Oldshooter has a bunch of great links and don't be afraid to ask. I too am an idiot, but the info here has been great and the people are gracious with it.
Small world
Oldshooter has a bunch of great links and don't be afraid to ask. I too am an idiot, but the info here has been great and the people are gracious with it.
Chuckanut
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Congratulations. You seem to have the attitude and assets necessary to retire successfully.
Since you are not a financial expert, I suggest you read up on how to manage your savings and investments. I like the website Humbledollar.com for getting a good grasp of the basics. It will also help to keep you from becoming a victim of the financial sharks who would like to take a big bite out of your retirement savings.
This site is loaded with good advice, though keep in mind that even experts disagree on what is the 'best' in any situation. Often it's simply a matter of one's perspective.
Stormy Kromer
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Welcome and congratulations on your retirement. This forum is full of down to earth folks who like to help. From what I have seen the members come from all walks of life but have the same thing in common, appreciating the financial independence to live our lives as we like. Honest questions will get honest and respectful answers.
