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Author Topic: What made you decide to retire early?  (Read 7489 times)

BigSkyTrailerGuy

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What made you decide to retire early?
« on: August 18, 2016, 07:06:51 PM »
I'd love to hear your thoughts.

I'm 62     (75% SS bennies -- 66 for 100%)
I just got laid off with no prospects for a similar job. (Most likely Lowes Home Center part time stuff.)
I'm battling cancer, but i seem to be holding my own, but really tired.
My bride is working, healthy, thank God, with health insurance for both of us. But she's tired too.
Two years til we own the house.  $150k in annuities.

What would you recommend for H insurance?  (65 until Medicare)

Tom

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Re: What made you decide to retire early?
« Reply #1 on: August 18, 2016, 07:16:35 PM »
Have you looked at COBRA to extend your employer's health insurance for 18 months? Doesn't get you to 65, and isn't cheap, but would give you some breathing space to look for alternatives.
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Punomatic

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Re: What made you decide to retire early?
« Reply #2 on: August 18, 2016, 07:28:41 PM »
I retired at 57 for a number of reasons: I never really enjoyed my work. I had a coworker who died of cancer at 55, which made me realize none of us are guaranteed our retirement years. My wife encouraged me to retire. She was still working and I was able to get health insurance through her work for a year until I qualified for my retirement package that includes health insurance. I wanted to go back to school and get a masters degree in Biblical counseling.

I worked part time for a few years after retirement in a field closely related to my life's work but much less stressful. I retired from that work when my father passed away, and my mom was in need of help with her affairs.  My wife was about to retire, so I didn't renew my contract for the part time job.

We have been blessed with good health, so I understand that our path might not work for you. Our income was cut about in half at retirement, but we found that adapting to the change was not as difficult as we imagined. Since that time, the advice of a good financial planner and collecting social security (I started this month at age 70, my wife started four years ago at age 62) has brought us back to about 2/3 or our pre-retirement income, and we are quite comfortable and enjoying life.

Finally, I will share the advice my dad gave me just before I retired: "Whatever you want to achieve in life, do it before you retire, because you won't have time to do it after you retire!"
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Becks

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Re: What made you decide to retire early?
« Reply #3 on: August 18, 2016, 07:36:10 PM »
Two heart attacks at a young age. We just don't know how long we have. Best decision I ever made.
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SeilerBird

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Re: What made you decide to retire early?
« Reply #4 on: August 18, 2016, 07:43:15 PM »
In 1969 when I was 21 my father, who was 50, died of a heart attack. My doctor told me that heart disease was familial and I would also die around age 50. So when my knees went bad at age 40 I was given the option to retire early. Figuring I would spend the last ten years of my life enjoying life I retired. Now that I am 68 years old I can safely conclude the doctor was wrong. I was always very young looking so when I was in my 40 and I told people I was retired they never believed me. I ended up full timing for ten years and seeing the entire country. So I am happy with the way it all turned out.
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hedhunter9

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Re: What made you decide to retire early?
« Reply #5 on: August 18, 2016, 08:31:41 PM »
3 Heart attacks even though I was very healthy @ 60 (bad genes and stress) woke me up..  My Daughter took over running the shop and I started traveling with my wife around the country.. (racing motorcycles) LOL...  The wife took SS at 62, but I am holding off to get my full SS amount at 65.
  Our house is all paid for. We have a couple rental houses. I have over 250K in my retirement fund drawing good divies. and I get rent out of our shop, so we are not rich, but we can survive. When my SS kicks in that will help.
 Bob
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Northern Indiana

BigSkyTrailerGuy

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Re: What made you decide to retire early?
« Reply #6 on: August 18, 2016, 09:15:33 PM »
Have you looked at COBRA to extend your employer's health insurance for 18 months? Doesn't get you to 65, and isn't cheap, but would give you some breathing space to look for alternatives.

Actually,the place that laid me off are continuing to pay their employer's share of COBRA.  And that's ok with me.

Old Radios

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Re: What made you decide to retire early?
« Reply #7 on: August 18, 2016, 09:25:31 PM »
Had a chance to retire at 58 six years ago when I was forced to take early retirement.  It was tight the first couple of years but I never looked back.  Have had some friends and relatives younger than me pass so I figured I do it when I found the chance otherwise it might never happen.  Funny thing is I'm busier now than when I was working full time. Don't know how I got anything done back then.
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SargeW

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Re: What made you decide to retire early?
« Reply #8 on: August 18, 2016, 09:43:45 PM »
Several close friends (co-workers) died young, unexpectedly. Cancers, heart issues, other diseases. Others were taken. You realize how short life really is. Some others refused to quit working because they could still earn "a little more money".  Several of those it didn't do them much good, as they didn't live a year after retirement. I guess the beneficiaries were happy. 

Two old sayings I really like. 1) The one phrase you will never see on a headstone is "I wish I would have worked longer".

2) I've never seen a luggage rack on a hearse.
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UTTransplant

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Re: What made you decide to retire early?
« Reply #9 on: August 18, 2016, 10:13:09 PM »
We finally sat down with our financial advisor and got the good news that we had plenty of money to retire. I liked my job, but not enough to continue to work if I didn't need to! I was 60 and DH was 62. We are lucky that we qualified for a retiree health insurance policy at a very reasonable price. House paid for. Two cars paid for. We were healthy, but I know a lot of people my age that are not, so why not do it! It has been a year, and we have no regrets. We travel 3-5 weeks at a time, coming back to the house to see friends and participate in the community. I tell my kids to keep adding to their 40K and to keep out debt. It sure makes retirement easier.
Pam and Kevin plus Minou and Lily (the cats) plus Lexi (the grand-dog)
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legrandnormand

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Re: What made you decide to retire early?
« Reply #10 on: August 18, 2016, 10:14:49 PM »
I retired at age 48 in 1995 after 31 years at Bell Canada. In the 90's, new technology arrived and less maintenance was required, so less employees to maintain it and less managers, which I was in the 90's.
The cie offered a great pre-retirement package for the 30 years service employees and more... which I accepted.
Today, I'm 69, living on my savings and pension earnings and I've never had any regrets by taking my pension at that age and I'm enjoying every minute of it.  :)
« Last Edit: August 18, 2016, 10:26:55 PM by legrandnormand »
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Jomo

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Re: What made you decide to retire early?
« Reply #11 on: August 19, 2016, 09:24:10 AM »
I am soon to be 58 and my husband is 67.  He retired 2 years ago.  I decided to retire at the end of this year and we are going full time in our RV.  We have no pensions so will be living on his Social Security and our 401K.  I will have to buy health insurance for the next 7 years until I qualify for medicare.  That is the scary part that I am having trouble with. We have both had some minor health problems in the past that makes you realize you never know when your last day is.  Best to enjoy life while you can!
Jo & Jim
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Ernie n Tara

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Re: What made you decide to retire early?
« Reply #12 on: August 19, 2016, 10:43:19 AM »
I, on the other hand continued working until I reached 69 (two years past full retirement) becauseTara is diabetic and much younger. Today, because we travel extensively within the US, her health insurance cost is $700/month for $6, 000 deductable nationwide coverage. We can afford it, but it's something everyone should think about before retiring early.

On another aspect of the question, where the social security payments are greatly disparate,  having the lower entitled person take ss at 62 may prove to be an advantage in the long run. Since he/she can switch to coverage under the other parties ss when she/he passes. (Check qualification requirements with your accountant).

Ernie
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John Beard

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Re: What made you decide to retire early?
« Reply #13 on: August 19, 2016, 10:52:38 AM »
I quit working long before I retired. In 2009 I took a 3-week motor cycle journey with my youngest son and I never went back to work. There were a variety of reasons...I like to joke that I had become allergic to an alarm clock.

I officially retired July 2016, when I received my first Southern Nevada Carpenter's  Union pension check.

My primary reason for not working...W-O-R-K...I hated what I had once loved doing. So I said enough is enough and never looked back....to date.
John & Susan
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Larry N.

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Re: What made you decide to retire early?
« Reply #14 on: August 19, 2016, 11:59:59 AM »
AT&T was changing retirement plans (the new one was pretty sorry for us older types), as well as downsizing personnel, so they made an excellent offer for those of us with at least 30 years and age 55 or better. Since the new plan would have cut my retirement benefits considerably (unless I hung around another 20 plus years), and they offered a 20% bonus to retire that year, I elected to go -- took it as a lump sum (good decision in my case).

Then I did contract work as a Unix system administrator for a couple of years. When my dad passed away, he left me enough to meet the remainder of my computed requirements for complete retirement (I already had the bulk of it), so I've enjoyed that freedom for the last 16 years.

Those computed requirements figured enough to comfortably live on for at least 30 years for the two of us (not counting social security, which has been a bonus), then double that because of inflation and other uncertainties. So far that's been a good strategy.
Larry and Mary Ann N.
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BigJohn

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Re: What made you decide to retire early?
« Reply #15 on: August 19, 2016, 03:32:14 PM »
I enjoyed my job and did not want to retire. My wife did not like her job. We are the same age. She retired at 55. My employer had periods during the year where work was low. So I had the ability to take a lot of time off during these periods. I usually took 12-15 weeks off a year. After 6 or 7 years of this arrangement, we switched to where I worked only when my employer was really busy -10-12 weeks a year. I worked until I was 70.  Since my DW retired before me we have been able to enjoy our RV life for many years and I have been able to work at a job I enjoyed.
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TonyDtorch

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Re: What made you decide to retire early?
« Reply #16 on: August 19, 2016, 07:58:24 PM »
 I finally got tired of waiting for the economy to change so I took a look at my SS benefits and did the math.

I retired at 62 @75%,  if I had waited for 100% retirement at 66,   it would have taken 11 years (or until I was 77) to get back to even on the money.....
that and,   after seeing several friends recently drop dead...... it was a pretty easy decision.
« Last Edit: August 19, 2016, 08:08:54 PM by TonyDtorch »

garyb1st

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Re: What made you decide to retire early?
« Reply #17 on: August 19, 2016, 08:53:50 PM »
Since you're still 62, you have 2 plus years until you're eligible for Medicare.  Tom mentioned Cobra which can be quite costly.  It also leaves you with the same problem 18 months down the road.  Have you looked at the Affordable Care Act as a possible coverage bridge until you're 65.  Also, I'm surprised you were laid off given your health issues.  Is that even legal?  Have you consulted an attorney? 

You mention your wife is tired of working, but is she ready to quit her job?  That is really key to your next steps.  Have you considered selling your home?  Have you thought about full timing?  If you prefer not to sell, what about leasing your home.  If you only have two years remaining on your loan, the rental income would surely cover the mortgage and leave you a few $$$ for whatever.  With those dollars in addition to your Social Security Income, you might be able to full time as camp hosts.  While I've never done it, hosting has to be one of the best ways to travel, see the country and live comfortably on a shoestring.   

You also need to consider your wifes social security benefit.  If you can live on yours, she can delay receiving her benefits until 66 or possibly 70.  Then, depending on her income and benefit, it might be possible for you to drop your benefit and collect spousal benefits from her coverage when she retires.  Not sure how that works or if it's even doable, but I'd certainly consider it.  If on the other hand, her benefit will not be significant, she can collect spousal benefits from your coverage when she turns 62.  Get some advice on Social Security options.  Lots to consider.   

Good luck and keep us posted on your decisions. 

Gary B1st

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8Muddypaws

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Re: What made you decide to retire early?
« Reply #18 on: August 19, 2016, 10:09:44 PM »
Long hours, stress, and the perfect opportunity to get an enhanced pension, paid medical and dental until I turned 65, and 11 months of severance pay.  I started my official retirement on April 1'st but the joke wasn't on me!
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catblaster

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Re: What made you decide to retire early?
« Reply #19 on: August 20, 2016, 05:17:20 AM »
  I had no choice, Emphysema, pulmonary fibrous, Bronchiectasis, and Pulmonary Hypertension at 62, then a double lung transplant 8 months later. The two easiest things I did was filing for SS disability and Agent Orange with the VA. The job I had was easy, good pay and plenty of benefits, if I had not been forced to retire I would probably still be working even though the two heart attacks have taken their toll. 
Will and Jane
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Helmerb

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Re: What made you decide to retire early?
« Reply #20 on: August 20, 2016, 07:24:25 AM »
My Dad died @ 63, my younger brother died @ 43.  I retired two years ago @ 56 and have not regretted a second of it.
Bill and Cindy
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SeilerBird

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Re: What made you decide to retire early?
« Reply #21 on: August 20, 2016, 07:38:34 AM »
  I had no choice, Emphysema, pulmonary fibrous, Bronchiectasis, and Pulmonary Hypertension at 62, then a double lung transplant 8 months later. The two easiest things I did was filing for SS disability and Agent Orange with the VA. The job I had was easy, good pay and plenty of benefits, if I had not been forced to retire I would probably still be working even though the two heart attacks have taken their toll.
The real reason Catblaster retired is because it was interfering with building his airboat. ;D
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JX2Fields

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Re: What made you decide to retire early?
« Reply #22 on: August 20, 2016, 08:17:11 AM »
 I retire in 2012 at 62, I had know so people who said as soon as I am 65 I am retiring at 65 1/2 they were dead. Plus the environment I was working in was getting overrun with government regulatory agencies , it had ceased to be enjoyable. I retire in March of 2012 in March 2013 My wife and I went to New Zealand on a trip , in a week after we returned I was in the hospital getting a stent put in. Have not regretted retiring early one bit. If you can afford it do it.
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catblaster

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Re: What made you decide to retire early?
« Reply #23 on: August 20, 2016, 10:57:39 AM »
I retire in 2012 at 62, I had know so people who said as soon as I am 65 I am retiring at 65 1/2 they were dead.


We had an inspector the waited until 65, and after his retirement party on his last day of work he went home and died while waiting for his dinner. Another one that was a close friend of mine retired at 62 and within 9 months had passed away. None of us are getting out of this alive.
Will and Jane
95 Winnebago Luxor

TonyDtorch

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Re: What made you decide to retire early?
« Reply #24 on: August 20, 2016, 11:59:42 AM »

We had an inspector the waited until 65, and after his retirement party on his last day of work he went home and died while waiting for his dinner. Another one that was a close friend of mine retired at 62 and within 9 months had passed away. None of us are getting out of this alive.

I just happy I made it out of a lifetime of work.....now, I hope the only way I ever come out of retirement is... death.
« Last Edit: August 20, 2016, 12:11:51 PM by TonyDtorch »

MrWizzard

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Re: What made you decide to retire early?
« Reply #25 on: August 20, 2016, 04:21:17 PM »
After 32 years (3 months, 15 days if you're keeping score t home) crushing crime, facing death and keeping the streets safe just wasn't fun anymore so i retired 3 months shy of my 57th birthday!!! That was 9 years ago and I have not regretted a minute of it. My DW worked until last year because she wasn't ready to retire when I did.
I have kept as busy as I want to be and am really enjoying life. As has been said before, we can work too long and then not be able to enjoy what we worked so long for.
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Punomatic

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Re: What made you decide to retire early?
« Reply #26 on: August 20, 2016, 06:08:30 PM »
On another aspect of the question, where the social security payments are greatly disparate,  having the lower entitled person take ss at 62 may prove to be an advantage in the long run. Since he/she can switch to coverage under the other parties ss when she/he passes. (Check qualification requirements with your accountant).
Please be aware that whatever age you or your spouse take SS retirement benefits becomes your permanent retirement age for the purpose of calculating benefits. DW, whose benefits are much lower than mine, took SS at 62, because her parents both died in their 50s. I took my spousal benefit, which was half or her benefit. Our financial adviser told us that I should wait until age 70 because my parents lived into their 90s. When it came time for me to file, DW would have been entitled to a spousal benefit equal to half of my benefit at age 66 (the maximum spousal benefit). BUT, because she had already taken benefits at 62 she is actually getting half of what I would have received at 62. It is a bit more than her own  benefit, but not as much as we thought she was going to get. We are very grateful to be getting the benefits that we paid into when we were working, but just be sure you know what your benefits will be, before you file.
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John From Detroit

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Re: What made you decide to retire early?
« Reply #27 on: August 21, 2016, 06:36:07 AM »
What meade me Retire Early.. Well, the handwriting on the wall was reduced staff with ever increasing work, Management who would not listen to reasonable requests and when they did did it half .. You know what follows half,  and an attempt by a co-worker to get me (and at least two other people) fired... (Failed epically, resulted in him getting a 30 day unpaid vacation)..

The governor made me an offer, Turns out I qualified, so..  Here I am.
Nothing adds excitement like something that is none of your business
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TonyDtorch

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Re: What made you decide to retire early?
« Reply #28 on: August 21, 2016, 08:55:32 AM »
Wait !!!..if everyone over 55 starts retiring,  and everyone else is still looking for jobs,... who's going to cover my SSI checks ?

 ( now I'm starting to worry...)
« Last Edit: August 21, 2016, 09:44:34 AM by TonyDtorch »

donn

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Re: What made you decide to retire early?
« Reply #29 on: August 21, 2016, 09:48:38 AM »
Forced out in the recession of 2009 at 64.  Hard when your not ready.  But DW and MIL health issues it became worthwhile.  Still struggling financially but oh well.  Still can travel some.

BigSkyTrailerGuy

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Re: What made you decide to retire early?
« Reply #30 on: August 28, 2016, 03:23:23 PM »
Almost 100% of you guys have said "Best decision I ever made."  My next CAT scan will give me an indication if I should pull the trigger right now.

Len and Jo

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Re: What made you decide to retire early?
« Reply #31 on: August 28, 2016, 07:03:13 PM »
Retired at age 57.  Had been planning it for 10 years.  No special buy outs.  Age was right, finances were in order, health was/IS good, lots of other things I wanted to do.  Fifteen years later and still enjoying it.  Still much to see and do.
« Last Edit: August 28, 2016, 07:04:50 PM by Len and Jo »
Len & Jo
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gwcowgill

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Re: What made you decide to retire early?
« Reply #32 on: August 28, 2016, 07:23:47 PM »
First retirement 1979 from the military, Taught school until the wife fell and broke both her legs and was in a nursing home exactly 3 days. ( She had been sick for awhile before this) I was 61 at the time and had health insurance through the military and the wife had just started collecting disability ins and became eligible for Medicare. Nursing home was really bad so I pulled the plug at 61 and 3 months to take care of DW. Haven't looked back and Am blessed with 2 retirements plus the wife's retirement and now both get SS. Not rich but have  adequate income to enjoy retirement.
2009 Bounder 36B, 2014 Honda CR-V, various grandchildren when school is out. KG4LHS
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garyb1st

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Re: What made you decide to retire early?
« Reply #33 on: August 28, 2016, 10:03:42 PM »
The new boss.  After 21 years as a middle manager of a Fortune 100 company, I was promoted to the head of the department.  Lot's of money and benefits.  But the position came with a significant downside.  My boss.  After a year I had enough and gave him my notice.  Turned 61 in June of 2004 and took my pension 1-1-2005.  Have not regretted it once.  While I left significant money on the table, there's no doubt in my mind that staying another 4 years would have shortened my life.  I would have had a stoke or ended up in prison for accidentally killing him.  lol. 
 
Gary B1st

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Quillback 424

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Re: What made you decide to retire early?
« Reply #34 on: August 29, 2016, 01:01:04 AM »
I retired at 60 with full SS and railroad retirement because of a little bit of planning and a whole lot of luck. I also get a management retirement but, that is just icing on a pretty good, basic package.

First the planning: I knew that railroaders paid the SS rate toward retirement plus an extra 5% for railroad retirement. In addition, the railroad contributed 22% into the same retirement account for every hour I contributed the 5% and this was all held away from SS and railroad prying hands. My assumption, then, was that a railroader's retirement would be higher than a straight SS retirement.

The luck: As an 18 year old kid I hired out to the railroad to pull ties out of the deep ditches they were dumped in so the "regulars" could insert them in the track. For four months, as an "extra" I pulled out ties because it paid the best money in the small town I was from.

The following year I went into the Navy for four years.

When I was discharged, I wanted to travel and the railroad signal department was hiring, so back I went not knowing of the significance of this decision.

I learned my craft, eventually going into management and retiring in a middle management position.

When I was about 57 congress passed a law which allowed railroaders with 30 years of continuous service and 60 years of age to collect full retirement (SS, RR retirement and management retirement) at 60. After all it was our money and all accounts were fully funded.

What I didn't know, until some time into my management stint, was that the initial four months of pulling ties out of the ditch qualified to wrap my Navy time into the retirement package; there was never a year of separation between RR service, military service and again, RR service. So, wrapping my Navy service qualified me for a 40 year RR retirement credit even though I had slightly more than 35 years of railroad service.

I also qualified for a management retirement program that limited age benefits to 30 years. My initial years at another railroad were not calculated into this plan but, since I had exactly 30 years of service with my final railroad when I turned 60, would not have gained me any benefit anyway.

So, at age 60, (actually two weeks before) with not much more to gain, I retired and never looked back. Actually, 10 years later, I'm absolutely positive that I would be considered incompetent in the areas I once taught, managed and directed. And,for some reason, that is comforting.
Larry --  Olathe, Kansas
2012 Winnebago Sightseer 33C
2005 Trail Rated Jeep GC 4.7 L

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dave54

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Re: What made you decide to retire early?
« Reply #35 on: August 31, 2016, 06:26:43 PM »
I was fed up.

Retired at minimum retirement age of 50 from the feds.  I was passed over for promotion because I was the wrong sex and race.  Despite glowing recommendations from the selecting official, the top management overruled him.  I know this is true because they told me afterward.  Management said do not bother with any discrimination complaint because a federal judge ordered the hiring of more Hispanics and women.  I submitted my paperwork the following week.

I was retired for about 6 months then went job hunting.  Wife was still working, so I was outvoted 1 to 1.  Went to work for local county government and put in ten years.  Retired again with a small state pension on top of my federal pension.  Just started my SS, and have enough investment Income that all combined equals my top income while working.    So wife and I retired on the same day with no change in monthly income.  It was a no brainer. 
I never get lost.  I just have unplanned adventures.

Drifterrider

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Re: What made you decide to retire early?
« Reply #36 on: January 25, 2017, 09:20:53 AM »
I am eligible to retire in two years.  I intend to (which is why I'm on this forum:  two years really isn't enough time to learn about RVs.).  I've lived on five continents and travelled extensively in the US and parts of western Canada via M/C.  I'm only at work today because I'm not yet eligible to retire: but I really am counting the days.

SeilerBird

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Re: What made you decide to retire early?
« Reply #37 on: January 25, 2017, 09:36:40 AM »
Almost 100% of you guys have said "Best decision I ever made."  My next CAT scan will give me an indication if I should pull the trigger right now.
Retirement has been the best years of my life. I am living the dream. ;D ;D ;D ;D
I would like to apologize to anyone I have not yet offended. Please be patient and I will get to you shortly.
Life list of birds:
https://goo.gl/photos/xuP9zPD2KP2swN1g8
Grand Canyon photos:
https://photos.app.goo.gl/Nc1AT8tQp25wJwfm1
My portfolio:
https://goo.gl/photos/Cx4SaYhGfYFShSty7

dave54

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Re: What made you decide to retire early?
« Reply #38 on: January 25, 2017, 10:46:34 AM »
I was passed over for a promotion because I was the wrong race and gender -- a white male.  My boss told me personally he was overruled by upper mgmt and they hired someone from outside that met the quotas.  I was at minimum retirement age, so I submitted my papers the following week after I ran the numbers and found I was working for about $50 per month anyway.  A no brainer.
I never get lost.  I just have unplanned adventures.

TonyDtorch

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Re: What made you decide to retire early?
« Reply #39 on: January 25, 2017, 12:45:22 PM »
I did the early S/S retirement at 62 and love it,  about the only down side is.... the 50% tax bracket it puts on any supplemental income.

 Every once and while I get great job offers from people I worked with,    but unless the company is going to start paying in green cash,  I'd rather take the day off again.
« Last Edit: January 25, 2017, 01:01:31 PM by TonyDtorch »

winona

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Re: What made you decide to retire early?
« Reply #40 on: January 25, 2017, 01:07:04 PM »
Small office.  Boss was a controlling, obsessive, threw anybody and everybody under the bus, lied, plus you can add all the other adjectives you want.  I crunched some numbers, said life was too short to be miserable, and gave my notice.  The funny part was since she kept odd hours, I made 2 copies of my letter.  I kept one on my desk to hand to her should I see her and slid the other one under her locked office door, knowing unlocking it to put it on her desk would not be a wise thing to do.  She informed the personnel committee, with feigned disdain, that she had to "pick it up off the floor," of course with no other explanation.

The best thing that came with this boss from hell was wonderful retirement!  Oh how glorious.  Best days of my life!  Shoulda done it sooner!
Winnebago Trend
Dorothy and Bailey, my big loveable lab

Massmerch

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Re: What made you decide to retire early?
« Reply #41 on: January 25, 2017, 01:33:25 PM »
I worked at a well known big box retailer as the #2 manager...woke up one day and knew I was done with the stress of a large corporation.  I retired 8 months ago at 61.  Not real early...but not early enough.  I thoroughly enjoy being retired with my lovely wife.
Randy
2005 Itasca Horizon 40 KD
2016 Jeep Unlimited
Hesperia, Ca.

BIG JOE

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Re: What made you decide to retire early?
« Reply #42 on: January 25, 2017, 01:53:08 PM »
22 years in the Navy SeaBee's as a Heavy Equipment Operator. 23 years in Federal Civil Service in Aviation Fuel and Air Terminal/Cargo Logistics Management.

I loved every minute of it.. wouldn't change a thing, but [I Knew]  it  was  time  for  me  to  go. Was Turning 62, with enough Time In Service, eligible for SSB, was able to Pick and Train my successor... I Retired. Walked away with a Smile on my face, and have never looked back.

For a 17 year old kid from a small logging town in Oregon... Damn Proud of what I have accomplished in 45 years. Still makes me  ;D at times.

DW of now, 50 years.. Retired 2 years later from 20 years of Federal Service. Kids are Up & Out on their own. 9 Grand Kids.

The RV Life Style.. is what we do now.. along with a lot of activities in our local community too.

Life IS, and Has BEEN.. GOOD.  ;)  :)

 
« Last Edit: January 25, 2017, 01:58:53 PM by BIG JOE »
Joe

Tow an 016 29RS "Reflection" 5r w/Trailair pin box...with a 2012 Ford DRW, F-350, 4x4, Loaded de-Blinged Lariat CC, 6.7 Diesel.. Wife & I, Beck & Sheeka the Dogs.. And as of 5-17.. Lizzie, the Kitten in Training.

Tom and Margi

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Re: What made you decide to retire early?
« Reply #43 on: January 25, 2017, 02:00:26 PM »
Tom managed drug stores for a major chain listed on NYSE.  He looked at me when he was 52 and said "I don't want to do this anymore."  That was 31 years ago, the happiest years of our lives.  When he retired it was like dating again!  Sure our nest egg has shrunk (a lot!) but I wouldn't trade those years for anything.
« Last Edit: January 25, 2017, 05:37:04 PM by Tom and Margi »

8Muddypaws

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Re: What made you decide to retire early?
« Reply #44 on: January 25, 2017, 03:58:35 PM »
I retired at 62 and don't regret it except for losing contact with some really great people.

I was working in the medical device field on the tech end of manufacturing, sales, logistics, and product support.  My boss was a ditz but her boss was awesome so it kind of balanced out.  I couldn't take much more of the stress and 60-80 hour weeks were killing me.  I was going to retire January 1 2009 but my bosses boss talked me into staying another year telling me 'good things are coming'.  The good thing was a big layoff which I volunteered for. From that I got 11 months of severance pay, paid life insurance, paid medical until I went on Medicare, and a very nice executive pension.  Every time I see him I thank him profusely.

Now I volunteer at the Red Cross about 15-20 hours a week, take off whenever I want, and only take on the projects I want to.

It's good being a part time bum.
« Last Edit: January 25, 2017, 04:00:21 PM by 8Muddypaws »
Retired computer professional
Musician, songwriter and music director
2006 Bounder 34H, 2008 CR-V Toad

Patnsuzanne

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Re: What made you decide to retire early?
« Reply #45 on: January 25, 2017, 04:48:20 PM »
I retired April Fools Day of 2015 after a 36 year career as a firefighter. I was a young 59, but it's a young man's game and you can only push your luck so far. My wife had retired a couple of years before me, even though she's three years younger than me. She was diagnosed with breast cancer within a year and now that her treatment is complete, we're very happy to be able to travel as we please without worrying about work schedules.
2016 Toyota Tundra Extended Cab
5.7 V8
Equalizer WD hitch
Tekonsha P3
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8Muddypaws

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Re: What made you decide to retire early?
« Reply #46 on: January 25, 2017, 05:18:28 PM »
My first day of retirement was also April Fools Day, (in 2009). But the joke was on them.  The guy they chose to replace me was not interested in (or not capable of) learning the technology and only lasted 6 months.

Still laughing all the way to the bank.
Retired computer professional
Musician, songwriter and music director
2006 Bounder 34H, 2008 CR-V Toad

Chet18013

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Re: What made you decide to retire early?
« Reply #47 on: January 27, 2017, 09:34:51 AM »
DW retired at 58 and I retired at 62, 4 years later. We said the heck with work and paid the high insurance until we were both able to get Med-i-Care. We retired because we could and we were ready to travel. Did 3-4 month trips for 10 years and then sold everything and started full time 4 years ago. Just wish we had started full time sooner.
Chet18013
Full time in a 45' '04 Monaco Signature
towing a 2014 Jeep Grand Cherokee diesel

NY_Dutch

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Re: What made you decide to retire early?
« Reply #48 on: January 27, 2017, 12:27:18 PM »
In 2005 at age 62, I decided that having worked full or part time and paying income taxes for 50 years was enough. I had spent several years prior to then structuring our income and investments so we would pay little or no income tax after retirement. After retiring, I continued a small sideline one man business that allowed us to take advantage of a NY state subsidized small business health plan at very favorable rates (about $300/month for the two of us at the time). In the eleven years since then, we've never been a bit sorry about doing it the way we have.
Dutch
2001 GBM Landau 34' Class A
F53 Chassis, Triton V10, TST TPMS
2011 Toyota RAV4 4WD/Remco pump
ReadyBrute Elite tow bar/Blue Ox base plate

Derby6

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Re: What made you decide to retire early?
« Reply #49 on: January 27, 2017, 12:48:35 PM »
To answer you question of why.  Because I want to relax and enjoy life.
My first retirement was from the military in 2010` 20 yrs.
I have not retired again just yet but talk pretty regularly with my USAA financial advisor.  Thinking I am on track to be able to retire at 50-55; likely closer to 55.  I am banking as much as I can and should have 1 house paid for in 1-2 years.  Then my primary home will start getting double, triple, maybe even quadruple payments.  Of course this all requires me to keep this well paying job or another with a similar pay scale.  Without that-the whole timeline changes.

My plan is to continue to work part time to keep me active--but it will be a no stress low income just a funny money supplement.
Maybe even be a substitute teacher?
2015 Ford Explorer (Wifes Ride)
2011 Ford F350 4x4 Lariat Crew Cab/Long Bed/SRW
2011 Honda Civic-- (Beater with a heater)
2007 28' Desert FOX Toy Hauler             
TOYS:
01 Yamaha Kodiak 400
09 Yamaha Grizzly 550
12 Yamaha Grizzly 450
13 Yamaha Rhino 700 (Wifes Ride)
13 & 14  144" & 155" SKI DOO

dcbinvt

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Re: What made you decide to retire early?
« Reply #50 on: January 27, 2017, 07:06:23 PM »
I retired at 52. Was begged not to by my employer - BUT they were offering an incentive to retire and with the additional payments for unused vacation and other stuff, my calculations showed I'd essentially be working for free for the next 5 years. So out the door I went, bought my 1st. Class A, and travelled for the next 6 years. Then went back to work for several years. Still get calls to consult.

taoshum

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Re: What made you decide to retire early?
« Reply #51 on: January 27, 2017, 09:37:07 PM »
Early?  Maybe.  Seemed like 31 years was enough.
07 Itasca Meridian 34SH.  '08 Jeep Sahara.
Taos, NM.

SargeW

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Re: What made you decide to retire early?
« Reply #52 on: January 28, 2017, 12:48:13 AM »
I love this thread! I love reading the retirement success stories. A few of my favorite analogy's are "What is the one line you will never read on a tombstone?  I wish I would have worked longer!"  And of course, "I have never seen a luggage rack on a Hearse". 
Marty--
2017 Tiffin Allegro Bus 40SP
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mikef

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Re: What made you decide to retire early?
« Reply #53 on: January 28, 2017, 01:46:13 AM »
After 40 years at the same manufacturing company, I retired at 59. Started as foundry laborer and ended as Project engineer. Burned out, health issues and personal life issues and I wanted out. First two years, traveled the lower 48. Came out to Oregon, from Wisconsin to visit friends and stayed. After 6 years of kicking around, I got bored and picked up a part time job at Cabelas. No need for the money, but something to keep me active. And I found that I missed a work "family". Been there for two years and looking at another retirement, somewhere in Texas. Life is good.
1992 Winnebago Chieftain 32'
460 Ford chassis, New long block

davismills

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Re: What made you decide to retire early?
« Reply #54 on: January 28, 2017, 05:32:18 AM »
I retired from the USAF in 2002 at age 47.  Went to work for a BSC (blood sucking contractor) for eleven more years during which I saved 30 percent of my income.  I liked the hands on engineering position I had, but my gray hair pointed toward a management position and lots more money.  I hated it to the point that my health was beginning to suffer, mainly from stress.  Pulled the plug at 57 and have no regrets.  Sliding into age 62 this year.  Tricare Prime has been a great health benefit to me and my DW and I could not have left work pre-medicare without it.
2011 Winnebago Sightseer
2011 Honda CRV
Lovely wife and ugly dog

gwcowgill

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Re: What made you decide to retire early?
« Reply #55 on: January 28, 2017, 09:57:27 AM »
I retired from the USAF in 2002 at age 47.  Went to work for a BSC (blood sucking contractor) for eleven more years during which I saved 30 percent of my income.  I liked the hands on engineering position I had, but my gray hair pointed toward a management position and lots more money.  I hated it to the point that my health was beginning to suffer, mainly from stress.  Pulled the plug at 57 and have no regrets.  Sliding into age 62 this year.  Tricare Prime has been a great health benefit to me and my DW and I could not have left work pre-medicare without it.
Thank you for your service. I retired in 1979 from USAF and taught school for another 20 years and retired in 2002 from school. My son retired from the AF in 2005 and now works for DOD.
2009 Bounder 36B, 2014 Honda CR-V, various grandchildren when school is out. KG4LHS
2014 Honda CRV Toad,
2014 Jeep Grand Cherokee Toad

Derby6

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Re: What made you decide to retire early?
« Reply #56 on: January 30, 2017, 01:47:24 PM »
After 6 years of kicking around, I got bored and picked up a part time job at Cabelas. No need for the money, but something to keep me active.

I retired from the USAF in 2002 at age 47.  Went to work for a BSC (blood sucking contractor) for eleven more years during which I saved 30 percent of my income.  I liked the hands on engineering position I had, but my gray hair pointed toward a management position and lots more money.  I hated it to the point that my health was beginning to suffer, mainly from stress.  Pulled the plug at 57 and have no regrets.  Sliding into age 62 this year.  Tricare Prime has been a great health benefit to me and my DW and I could not have left work pre-medicare without it.

My "Plan" mirrors these two posts incredibly...  At least I know it is doable....lol
2015 Ford Explorer (Wifes Ride)
2011 Ford F350 4x4 Lariat Crew Cab/Long Bed/SRW
2011 Honda Civic-- (Beater with a heater)
2007 28' Desert FOX Toy Hauler             
TOYS:
01 Yamaha Kodiak 400
09 Yamaha Grizzly 550
12 Yamaha Grizzly 450
13 Yamaha Rhino 700 (Wifes Ride)
13 & 14  144" & 155" SKI DOO

debsmg

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Re: What made you decide to retire early?
« Reply #57 on: January 30, 2017, 03:14:02 PM »
I turned 59 today. Bought my RV in Aug 2015 with plans to go full time in a year or so. I wanted to leave last fall but decided to wait till June. At that time I would leave to meet up with a caravan going to Alaska. Now that time is not too far off I am debating about waiting another year. -I would get about 200 dollars more per month pension, put maximum amount into 403b, and have Rv nearly paid off. If I leave this year I would pay off RV with money from sale of house and should still have at least 100,000 to put into bank.

I would not retire but cut back working 6-8 months per year at temporary nurse practitoner jobs. Travel the rest. I make really good money at this job and sometimes I think I am crazy for thinking about leaving. But then there has been a lot of changes at this job and we know more is coming-which may be good or not.

Then I think my brother died at 58 and my mom at 49. I have nothing holding me here really other then the job. Both parents are gone and I never married or had kids. I am really tired of taking care of the house. As a matter of fact it was the basement flooding yet again that made me look into getting an RV and leaving. I nearly fell on my a** today taking the garbage out. Didn't see the patch of ice. Getting fed up with winter.

I read all this comments of people having no regrets leaving their jobs. May be time to pay off the Alaska trip and get my resignation letter ready.




Deb who is Hoooman servant to 2 cats
Kitcat and Spice and
Red Standard Poodle named Lucy

2016 Winnebago Aspect 27K
2013 Honda Fit toad

John From Detroit

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Re: What made you decide to retire early?
« Reply #58 on: January 30, 2017, 05:42:09 PM »
IN my case there was a mix of things.... I worked for the State of Mi for over a quarter century.
Well the outgoing Govermanure decided to give a gift to the Incoming Governor so he penned an Early Retirement program.. You qualified based on years plus age and you could "buy" a year or two by cashing in yoru 401K if you had it.. I did, and I did.

There was an attempt to get me fired.. The attempt backfired (the people responsible got 30 days no pay, I was cleared of any wrongdoing, And I mean 100% cleared, proven that I did my job right) but they did not stop with me... And I had every reason to believe there might be a 2nd attempt (I'm not one of the "in Crowd" that's In the bar drinking you see, Strictly a coffee-holic)

(I am also an ex-Union Steward and still assisted the site steward a few times,,,, Totally pissing off management (What I called a good day by the way, I'm actually proud of that)

I also saw the workforce shrinking while the workload grew (Predictions now history it happened) so given the handwriting on the wall, and the depth of the Male Bovine Fecal Matter (It was a 2nd floor office so you know how deep it had to be) I ..  Shook the dust from my feet as it were.

I might add the things I forsaw. Happened, as expected.

I retired at 52,, 10 years later I signed up for SS, and .... My Wife died... (there is actually cause and effect there believe it or not)   But I'm not sorry I retired young.
Nothing adds excitement like something that is none of your business
My Home is where I park it.

garyb1st

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Re: What made you decide to retire early?
« Reply #59 on: January 30, 2017, 05:51:06 PM »
There is a downside to running out of money in retirement.  But there is a bigger downside to running out of time.  Sounds like you have earned a pension.  Will you receive any health insurance benefits after retirement?  That could be one of your biggest expense in retirement.  If that is addressed, I'd retire in a heartbeat. 
Gary B1st

2005 Pace Arrow 35G
2016 Jeep Wrangler

chindog

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Re: What made you decide to retire early?
« Reply #60 on: January 30, 2017, 06:51:00 PM »
I retired a few years early.  In my case, the decision was due to the death of several people near and dear to me.  After losing friends and family members both young and old, I realized if I was going to enjoy the latter years of my life, I had better get going on it.  So, I gave up the job and career, and embraced a life of lowered income and greater personal freedom.  None of us know the number of days we have left on this earth, so those of us who have the means to wander should do so.
2014 Fleetwood Discovery 40G
2012 Honda CRV toad

TonyDtorch

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Re: What made you decide to retire early?
« Reply #61 on: January 30, 2017, 07:25:03 PM »
  Sliding into age 62 this year.  Tricare Prime has been a great health benefit to me and my DW and I could not have left work pre-medicare without it.

remember,  as an honorably discharged Veteran,  you are entitled to free VA healthcare.

   ( and it's pretty good healthcare too  :)  )
« Last Edit: January 30, 2017, 07:37:31 PM by TonyDtorch »

tanglemoose

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Re: What made you decide to retire early?
« Reply #62 on: January 30, 2017, 07:31:25 PM »
Hubby thought he could retire at 50 from fed. Government. But there was a twist, had to wait till he was 55, longest years of our lives!! He was ready to be out, did same job for 31 years. He is 67 now and have been the best years of our lifes..... retired 12 years now... don't go one step further... retire... money is over rated... feeling good now is not. If you want to work more do it when you are 75, 80, but enjoy your well earned retirement now... we have too many friends who work work and then guess what... yep, they are gone or have massive health issues... Enjoy today!!
Donna and Mark
and our Golden Lexie
New 2017 TT Keystone Cougar  Same model... but NEW Features!
2015 Keystone Cougar 1/2 Ton Series, 21rbswe, 26'
2013 Toyota Tundra
Living in Cold Montana Country.....

Massmerch

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Re: What made you decide to retire early?
« Reply #63 on: January 30, 2017, 10:24:06 PM »
I couldn't agree with you more Donna.  Every day you work...is one less day of retirement.
Randy
2005 Itasca Horizon 40 KD
2016 Jeep Unlimited
Hesperia, Ca.

Old_Crow

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Re: What made you decide to retire early?
« Reply #64 on: January 31, 2017, 06:19:24 AM »
I couldn't agree with you more Donna.  Every day you work...is one less day of retirement.


Yeah, but after working on automobiles and trucks for 30 years, a nice camp host position isn't really like working.

I had a hot rod and restoration shop.  The owner of the building passed away and his heirs wanted to sell.  Since I was one payment away from paying off my house I wasn't interested in signing another mortgage.  After some looking around I couldn't find a suitable site anywhere close enough that I could maintain my same crew.  Decided to pull the plug.

Hit the road in January of last year, and in April we were offered a camp host job in Arizona.  Spent 5 months at DeMotte campground in the N Kaibab National Forest, and we're hooked.  Will be going back again this year, but after that we'll be looking for different places to go.
Nice to stay in one spot long enough to see the area, we get paid, and the job's not a tough one. 
Just finished emptying the house and shop, house is on the market, and as soon as my wife has shoulder surgery and some recovery time, we're out of here.
Wally Crow
Retired 30 year ASE Master Auto Tech
Y2K Bounder 36S F53
'03 Jeep Wrangler Sahara

garyb1st

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Re: What made you decide to retire early?
« Reply #65 on: January 31, 2017, 11:05:35 AM »
Y2K Bounder 36S F53.  Took me a while.   :)
Gary B1st

2005 Pace Arrow 35G
2016 Jeep Wrangler

Irover

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Re: What made you decide to retire early?
« Reply #66 on: February 01, 2017, 09:44:16 AM »
A severe heart attack in March 2012, had to quit working in Mid-July, damaged the lower left side of my heart wall, caused weakness, fatigue and shortness of breath! Don't do much RVing now and very light traveling!
Don't ever give up!! keep pushing toward the goal!!!
USAEUR; 1st Armored Div., E Co.123rd Maintenance Btln. 71-74

Alpena Jeff

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Re: What made you decide to retire early?
« Reply #67 on: February 01, 2017, 10:04:26 AM »
Our story not nearly as interesting as others.
That said, DW did 32 years at GM (Human Resources). With all the trouble in the auto industry during those years the downsizing took her entire staff. She was the last one standing. Several retirement packages came and went until....one came along we liked. She jumped in 2009 at age 56. Never looked back.
I was a sales slave for a small company in Michigan. I was a one man show and liked it that way. Always had sales support on the road because I needed it!  ;)
My territory was everywhere domestic. Saw the entire country many times over, from the air. I now have a jones to see from ground level.
Anywho, we acquired a competitor 5 years back and I was to be responsible for mentoring their sales staff. Did not, would not so I seized the opportunity and hung up my Delta, Hilton and other cards and picked up my fishing gear.
Never looked back either! We are both 63 and blessed beyond belief!
Thanks for listening.
« Last Edit: February 01, 2017, 10:12:06 AM by Alpena Jeff »
Jeff & Judy
2016 Newmar Ventana 3427
Cummings ISBXT turbo 6.7L 360HP
Allison 3000MH
2018 Canyon All Terrain toad
"Official" snowbird!
Retired to "the lake" in north Michigan
Preachers kid since day one!

yolo

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Re: What made you decide to retire early?
« Reply #68 on: February 01, 2017, 12:37:53 PM »
Age discrimination was my reason.  I worked for AT&T and to get rid of excess employees they offered a program to give you 5 years of age and 5 years of service to calculate your pension.  I normally needed to be 50 to qualify but with this added age I could retire at 45.  I would have been 44.75 on 12/31/1989 when the retirement would occur.

Well, that made me mad.  I started banking every spare dollar into my 401K plan and doubled my house payments.  5 years later on 12/31/1994  I left with 9 weeks of vacation to tide me over until I hit 50.

We moved to Florida with my sailboat and never looked back.  In 2009 we sold the boat and got into RVing.  Traveled to 48 states (sorry Alaska and Hawaii). We did quite well in the stock market in the late 1900's and early 2000's and never missed the 30% pension deduction for retiring before I was 55.

One of the better deals was that before I officially left the payroll, my boss came begging me to stay on to write and deliver training on a new software release.  I got laid off in January 1996 and got a year severance pay.  I emailed my boss to tell him that I would be leaving on 1/4/96.  He called to ask if I could stay on a week longer when he could lay me off and give me a years pay.

Probably deals like this don't exist too much these days.

Bill Bell -- SW Florida

2009 Coachmen FX21QB Towing 2009 Smart Car
2013 Thor Tuscany 40FX
2004 Winnebago Vectra 40AD

PapaRoe

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Re: What made you decide to retire early?
« Reply #69 on: February 01, 2017, 02:59:52 PM »
Like several others, I retired from the military in 96,(22 yrs), and taught AFJROTC in a high school for another 19 years, retiring in 2015.  This was as soon as I was eligible to Social Security.  Wife retired one year before me.  I wanted to enjoy doing things while our health was still good.  We are blessed as we have my military retirement, and both of us have a state retirement, and we are both pulling Social Security.  All are not large, but compiling them together we are doing just fine.  I'm getting ready to pull some out of my IRA to purchase a truck and TT so we can hit the road.

Joezeppy

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  • Posts: 1651
Re: What made you decide to retire early?
« Reply #70 on: February 01, 2017, 03:52:19 PM »
This topic is making me jealous.  :(  With any luck we each have 12 years to go. Luckily we still both like our jobs (most days) so that helps.  ;)
Joe & Kim
Upstate NY - Kuyahoora Valley
2010 GMC Sierra 2500HD - 6.0L gasser
2017 Keystone Hideout 295BHS
Andersen Ultimate Aluminum 5th wheel hitch

Alpena Jeff

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  • Posts: 190
Re: What made you decide to retire early?
« Reply #71 on: February 01, 2017, 05:37:54 PM »
Your time will come. Save all the money you can!
Jeff & Judy
2016 Newmar Ventana 3427
Cummings ISBXT turbo 6.7L 360HP
Allison 3000MH
2018 Canyon All Terrain toad
"Official" snowbird!
Retired to "the lake" in north Michigan
Preachers kid since day one!

gwcowgill

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  • Posts: 2244
  • Retired USAF, Retired Auto Instructor Dade Cty Sch
Re: What made you decide to retire early?
« Reply #72 on: February 02, 2017, 05:24:00 PM »
Like several others, I retired from the military in 96,(22 yrs), and taught AFJROTC in a high school for another 19 years, retiring in 2015.  This was as soon as I was eligible to Social Security.  Wife retired one year before me.  I wanted to enjoy doing things while our health was still good.  We are blessed as we have my military retirement, and both of us have a state retirement, and we are both pulling Social Security.  All are not large, but compiling them together we are doing just fine.  I'm getting ready to pull some out of my IRA to purchase a truck and TT so we can hit the road.

Retired from military in 1979, me and DW both retired from schoolboard and both of us get SS. I taught auto mech and the wife cooked. Sounds like you pretty much done what I did.
2009 Bounder 36B, 2014 Honda CR-V, various grandchildren when school is out. KG4LHS
2014 Honda CRV Toad,
2014 Jeep Grand Cherokee Toad

Raylc

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  • Posts: 116
Re: What made you decide to retire early?
« Reply #73 on: February 05, 2017, 09:27:23 PM »
Well my wife and I both retired on 1/4/2017. I am 59 she is 61. We have lived in Montana for 26 years, owned a construction company and sold that. We will still have health insurance until we get on medicare, they will continue to lease our building for ten years and we will receive payments for ten years. We moved to Texas on 1/5/2017 to be near the grand kids and will continue to travel in our RV.
Ray and Sheila
Huntsville, TX.
2012 Winnebago Tour 42QD

spacenorman

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  • Posts: 248
Re: What made you decide to retire early?
« Reply #74 on: February 21, 2017, 08:01:19 PM »
The large bank that I worked for announced a downsizing initiative - that was going to result in roughly a 10% across the board reduction in total headcount.   The cuts were announced by level - with each cut coming roughly 4 weeks apart.   This meant we got to see how the cuts were unfolding.  For the 5 years prior to the downsizing initiative - I had been working remotely.  Initially I worked from my home office ... and upon acquiring our coach - I worked while traveling.  With me planning to work for 2 more years regardless - my biggest fear was that I'd be told I still had a job, but that I simply had to show up at the office every day.   As the cuts were announced it became apparent that the cuts in the IS group was going to come in close to 18%.   Virtually every one of the managers above me were cut ... and the handwriting was on the wall.  Ultimately, I volunteered for the buy out and took the money and ran. 

So far so good.   My wife and I are both digging being retired as well as the mobile lifestyle.
The Spacenorman
2012 Holiday Rambler Endeavor 43 DFT
2012 Jeep Liberty
http://www.penquinhead.com/

 

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