Retirement advice needed

[jerpinoy]

:congrats: Happy retirement...... When you feel the urge to work, lay down until it passes.:yes::yes::yes:. I retired when I was 42 years old. :agree: with others to plan ahead. My wife and I refinance our house mortgage to get paid off when our youngest turn 18 and that was 5 years ago. We manage debt free since then.
Retirement is what you can afford and enjoy what you want and this varies to each of us.
Past post have various details in finances especially, good luck and happy retirement and God Bless us all.

 

[belowme29]

We are all different and react so. I have retired twice, age 55 and 67 I am now 68 and looking at starting another business with my son. Good luck, I have friends that love retirement but I have to say it doesn't work for me. The only thing I like about it is I can get on my spider when I want and go when I want but because I can, I don't (very often). Road more when I was working and had to fight to find time to ride. I have been a police officer, and Donut maker with three shops, a county commissioner, and a Sheriff and I believe that work has always been my greatest recreation .

I had to re-read your post. Cop twice and Donut maker once. Hhhmmmmm? Did you get harassed about that? :roflblack:

Believe me - my figure says that I like donuts too much. My wife has a cousin that is an RCMP officer, and I ALWAYS ask him where the best donut places are. He use to harass me when I was dating my wife, so now that I am locked into the family I take my swings at him.

 

[JkRbbt]

NO! PLEASE! Don't join the "white velcro sneaker " crowd until you actually reach retirement age!! :roflblack:

 

[Biosafena]

First, I want to say thanks to all for the comments and I welcome any additional thoughts or suggestions. I have waited until now to respond as there has been some great information that I just had to sit back and digest. Based on the comments, a little additional information would be in order. I have been in the police world for the last 27 years. My wife is also in public safety and she will be able to retire in a little over 3 years with her full pension. We have no children (no college tuition! ) and are on schedule to have pretty much everything paid off when she is able to pull the plug. Should have enough cash squirreled away to pay for a house in the retirement state of our choice (Tennessee). Do have some investments and that is what I will be hanging to for a rainy day fund. I guess the whole thing is just scary from the aspect that I have worked my way up "the corporate ladder" and then to not have that security. Add to that moving to a strange town/state to try and start all over. Not knowing a soul there, not having any "connections", etc. It is exciting and scary all at he same time time. Then add to it the concern of there being too much month at the end of the money and the whole thing makes me shiver. I guess sometimes you have to step outside your comfort zone to make anything good happen. Being a cop for so long doesn't make it any easier to step outside my comfort zone. We deal with enough things that are unpredictable that when we can get some stability, we like to hang on to it.
As an aside, if anyone has any info on a great place to look for a house in Tennessee, specifically East Tennessee, I am all ears. I know that we want a log home.
Again, I want to thank everyone for their insight and comments. Sometimes I just need to hear from someone that has been there and done it.


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[Biosafena]

I had to re-read your post. Cop twice and Donut maker once. Hhhmmmmm? Did you get harassed about that? :roflblack:

Believe me - my figure says that I like donuts too much. My wife has a cousin that is an RCMP officer, and I ALWAYS ask him where the best donut places are. He use to harass me when I was dating my wife, so now that I am locked into the family I take my swings at him.

This is a small world. One of my patrolmen used to own a donut shop.


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[belowme29]

This is a small world. One of my patrolmen used to own a donut shop.


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Sorry - couldn't help it. My wife's cousin use to call me Jethro (from Beverly Hill Billies) and asked me about my cement pound. But then again he called one of his sister's boyfriends a bowl licker, since he liked to lick the bowl after the young lady's mother was finished mixing dough for cookies. The guy (RCMP Officer) has a great sense of humor.

 

[murphybrown]

Not my "story"

Retirement should mean no debts. Pay everything off before you retire then never borrow money again. I retired 9 years ago at age 55 and no debts. Best decision I ever made.

Dan if I had waited for all those requirements to be in place I would have never retired. That is the absolute ideal, but sometimes life throws a curve and you have to go to plan B< C< D< etc. etc. In my case plan A was retirement and whatever that was going to bring when I was about 52. What plan A reality ended up being for me: was ending a 38+ year marriage...ending up sleeping in a tent and saying "what the hell just happened to Plan A". After spending time in a fetal position and saying "life ain't fair [fact..that is truth It Ain't]. Decided survival was #1 on list...so back in the employment game...actually ended up with 3 jobs...moved out of tent into a offered spare bedroom..long story short. Because I owned that I was responsible for my life...I had to do certain things to reach my goals. Today I have been retired for 7 years. Have a home with a mortgage (my choice..but the home was high on my need/want list so willing to have the mortgage)...have learned to budget, plan, relax, embrace and enjoy this very moment. I learned not to overthink or over worry. And my Spyder life is a major part of that for me..
Like all things I have learned from Scotty (Nancy's toys) his advise is right on for planning and controlling your retired life. But when life throws you a bad curve :yikes:...you will find out what you are willing to do to live and enjoy life to the fullest...:clap:. Mainly I learned and accepted that there are many many aspects of life that just spin out of my control...that is when I have to trust my God...He always gets the job done the right way (which says not always is my want or desire best for me or my situation)...:thumbup:

 

[Oldmanzues]

I have retired three times now. 28 USAF, some time (16 years) driving a school bus, sometime (12 or so) teaching driver ed to teen agers. Scared me every time to do it, but as said on here, enjoy life. I would suggest having to do something, volenteer at a Senior Center or Hospitial a couple hours a week, I worked the drivers ed job when I wanted to work. Since I quit/retired for good (74 years old) a year ago, I am bored as all get out, even doing a lot with the PGR (suggest you doing it) and tourings.
If you are not already a member Join the Blue Knights, LEO motorcycle outfit.
Most all, if you enjoy doing something, do it
Good Luck
Oldmanzues

 

[currin20fan]

Retire

I too was a little scared when I retired however, I had been looking forward to it since I started working for the government. I had it in my head that I was retiring with 30 years in service and 50 years old. I knew this in my 20's. So, I saved what I could. When I was 45 I began paying off any bills that I owed. I worked hard at that but there was no guarantee that I would be able to retire at 50. Time went on. When I turned 50 I had my 30 years of service but I didn't receive my letter offering to retire. I was devastated. I had worked so many years for THOSE magic years. As it turned out, I did receive my letter when I was 52. So the day I got that letter, I put in my notification to retire and I have not looked back since. I was elated. I just keep going forward and loving every minute of it. After I retired, I had several offers to go to work. My magic words were........you gotta be kidding me!! I worked too hard to be able to retire. Took a while, but the offers stopped coming. thanks goodness!:clap:

 

[NancysToy]

You may want to consider simplifying your plans or planning in stages. Moving to a different locality and culture can be a shock in itself. Doing so as you retire could be tough. Vacationing in your desired location, or looking for a second home would be solutions to consider. We decided to stay here, near family, in the area we love...despite the weather. We did so some eight years after I retired and two years after Nancy did, so it wasn't two shocks for the price of one. It is no wonder you are scared. Nice and easy may be less trepidating.

 

[JkRbbt]

Sounds like you are gonna be just fine! It really is a pain in the butt every time you move to find that new barber, dentist, doctor, hardware store,… But the sooner you get there the sooner you will get settled! If you don't have big bills following you into retirement, you are gonna have FUN in your adventure! Like we used to say in the military, you already have friends at your new assignment! You just don't know who they are yet! Pull the plug and have a blast! Best wishes!

 

[Oldmanzues]

You may want to consider simplifyying your palns or planning in stages. Moving to a different locality and culture can be a shock in itself. Doing so as you retire could be tough. Vacationing in your desired location, or looking for a second home would be solutions to consider. We decided to stay here, near family, in the area we love...despite the weather. We did so some eight years after I retired and two years after Nancy did, so it wasn't two shocks for the price of one. It is no wonder you are scared. Nice and easy may be less trepidating.

Excellent advice as always. I did not think about the moving part as I was used to moving in the USAF. Just deciding what to take and what to get rid of can be a problem. Meeting new people/places is like a story I heard. A new guy asked how the people around were, friendly or not. The local asked they they were at his old place, then said, it probably will be the same here. Our moves kindly proves that. If you move get and meet people/do things
Again. Good Luck

 

[PrairieSpyder]

I'm kind of "semi-retire." I don't have my retirement income yet, but I'm not working. I live with my Dad and care for my him and his home as he is in his later years. I'm not old enough to draw on my retirement accounts, receive my pension or SS. So I have free time, but no income. But I know that eventually I'll have a retirement income, and don't really know what I'll do then, after my Dad has passed.

So I "try things on" mentally and think about how that kind of life would be. Like having a house in the country - would I like being further from my friends, what happens in an emergency, etc. Maybe I'd like to move to a better climate - but I don't know anyone there, what do I do for a social life, etc. Besides going to a gym, how will I fill my days - what causes have meaning to me that I could address, etc.

Based on my own experience, I would say to try to get a firm vision of what you want your retired life to be like. Then make a plan to start building it.

 

[Dan_Ashley]

Dan if I had waited for all those requirements to be in place I would have never retired. That is the absolute ideal, but sometimes life throws a curve and you have to go to plan B< C< D< etc. etc. In my case plan A was retirement and whatever that was going to bring when I was about 52. What plan A reality ended up being for me: was ending a 38+ year marriage...ending up sleeping in a tent and saying "what the hell just happened to Plan A". After spending time in a fetal position and saying "life ain't fair [fact..that is truth It Ain't]. Decided survival was #1 on list...so back in the employment game...actually ended up with 3 jobs...moved out of tent into a offered spare bedroom..long story short. Because I owned that I was responsible for my life...I had to do certain things to reach my goals. Today I have been retired for 7 years. Have a home with a mortgage (my choice..but the home was high on my need/want list so willing to have the mortgage)...have learned to budget, plan, relax, embrace and enjoy this very moment. I learned not to overthink or over worry. And my Spyder life is a major part of that for me..
Like all things I have learned from Scotty (Nancy's toys) his advise is right on for planning and controlling your retired life. But when life throws you a bad curve :yikes:...you will find out what you are willing to do to live and enjoy life to the fullest...:clap:. Mainly I learned and accepted that there are many many aspects of life that just spin out of my control...that is when I have to trust my God...He always gets the job done the right way (which says not always is my want or desire best for me or my situation)...:thumbup:

...um...but I did it. ...me...I grew up without parents....was a severely injured worker...and I did it. you can too...it just takes focus, and refusing to allow yourself to be tempted...If anyone finds that difficult, then they need to re-read this paragraph.

 

[cptjam]

Retirement

GO for it! No Regrets!