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Thread: Retirement

  1. #21
    basil is offline Sapphire level (2000+ posts)
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    Quote Originally Posted by StantonHyde View Post
    DH and I are 55 and didn't have kids till 37 and 40. I took the mommy track to balance his ER MD career. So we have had the one income with me being part time. We will both be working till we are 65 or 70. We are totally ok with this. As for doctors, there are many who do NOT do well in retirement. (my dad spent 3 weeks in the psych hospital) One of my dad's colleagues started a support group for "People who Used to be Important but Now are Not". It's a tough adjustment. DH knows a retired MD who is 90 and still volunteers one day a week to do physicals at a clinic for the working poor.

    Bottom line is that people need a purpose, a reason to get out of bed and get going. DH's grandfather played golf every morning at 6 am with his buddies. My grandmother had a farm to look after. Others volunteer, switch to a low pressure PT job etc. It's a really bad idea to think you are going to be happy doing only your hobbies and nothing else. (hobbies are great when you have limited time, but they rarely fill your day and all of your needs)
    Yes, exactly! My DH gets 1-2 Mondays off in a month - and now that the kids are in school he is usually a grump! I dread those days because when I come home he has done nothing and is super miserable about it

    DH's calculation includes paying for our own health insurance, but it's difficult to know what that will even look like in 10 years.

    My mom retired at 60 after teaching for 35 years. The state teachers' pension program made it just about worthless for her to stay, but she said she felt like she retired "too early" and kept doing some consulting type work for a while. She is 68 now. My dad is almost 70 still working but his job at this point is ultra flexible, which my and DH's jobs will never be.

    I have noticed, though, a big decrease in my parents' physical ability over the last 10 years, especially for more strenuous things like skiing or hiking up mountains. So that makes me think I want to have the time to do those things when I'm still "young"!

    Mommy111 - I don't know exactly which books DH has been listening to...but I think the advice is pretty straightforward. Live frugally, make as much money as you can, invest in index funds.
    DS- 8/11
    DD- 5/14

  2. #22
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    I know plenty of people who are still kicking my rear end on backpacking trips who are 65-70. Those danged retired people have nothing better to do than get in awesome shape!!!! You have to work harder at it and keep up with the training but it is very doable. At 55, I am honestly in the best shape of my life and I have been a life time exerciser. I figure I am good till 70 and then will slow down a bit. I got passed on the bike in a sprint triathlon by a guy who was 82!!! (I passed him on the run and am not ashamed to say I felt good about it )
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  3. #23
    n2ou is offline Silver level (200+ posts)
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    Quote Originally Posted by Liziz View Post
    Yes, this is big! Factoring in sufficient health insurance pre-65 adds a lot, especially if you're used to a fairly robust coverage through a job. I too know people who planned retirement around Medicare eligibility (and would have retired earlier if it weren't for that).
    I could retire around 55 but the insurance (state) I am grandfathered into is irreplaceable. I think I need to work until I become Medicare eligible.

  4. #24
    AnnieW625's Avatar
    AnnieW625 is offline Black Diamond level (25,000+ posts)
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    Quote Originally Posted by StantonHyde View Post
    .......

    Bottom line is that people need a purpose, a reason to get out of bed and get going. DH's grandfather played golf every morning at 6 am with his buddies. My grandmother had a farm to look after. Others volunteer, switch to a low pressure PT job etc. It's a really bad idea to think you are going to be happy doing only your hobbies and nothing else. (hobbies are great when you have limited time, but they rarely fill your day and all of your needs)
    Yes to this! I posted in the other post about my 69 year old dad still working part time, he also golfs as much as possible, walks a few miles a day at 6 am, is involved in Knights of Columbus, and his church choir. He also spends a few days every couple of months at my Grandma’s house (Grandma will be 91 in May and is a testament to staying busy and active....she plays lots of Wii golf in the winter) and I think that is why he is still in great shape. Plus he refuses to see himself as old.

    My mom quilts as a stress relief, goes to bible study, and does decorations for the church. She also cooks with my BFFs kids who are (9, and 6) who live around the corner. She would be bored and probably wouldn’t have recuperated as well as she did from her Cushings Syndrome had she not had all of these people or groups to keep her motivated.

    Like I said above DH plans on consulting, and if I really want to I can work as a retired annuitant for the state, but will have the flexibility to work the jobs I want to. I would also hope to be able to help out with grandkids and what not.



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    WOHM to two wonderful little girls born in April
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  5. #25
    gatorsmom is offline Pink Diamond level (15,000+ posts)
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    DH can retire now but he has ADHD and would never be able to sit still. He will most likely never retire. I’m a SAHM now but have seriously thought about going back to school in a different direction than my previous career. I’ve been volunteering for the last 5 years donating a lot of my time and money and quite frankly, I’ve had enough of nonprofits. I can’t see myself working for a nonprofit in the future when my terms are finished on the boards I serve. I have a plan to graduate and work part time until I’m no longer able and I suspect DH will do the same.
    Last edited by gatorsmom; 02-26-2020 at 07:48 PM. Reason: Auto correct hates me
    " I object to violence because when it appears to do good, the good is only temporary; the evil it does is permanent." Mahatma Gandhi

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  6. #26
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    I'm moving to part-time in August, once DD1 starts high school. I anticipate staying in a part-time schedule until I choose to retire somewhere around age 55 or so. We don't need my income but I know I'd be bored if I retired now. Plus, as PP noted, I am delaying retirement due to the cost of medical coverage. DH is a small business owner so I carry the benefits for our family. Once I work 9 more years (we have this Rule of 75 at my university), I qualify for medical coverage under them but I still have to pay. I figure it's better than relying on Medicare as DH has had some health issues and I am predisposed to some serious issues due to family history (e.g., diabetes, high blood pressure, high cholesterol, breast cancer).

  7. #27
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    My DH wants to retire in the next 5 years. We've done an analysis and we can do it. I just can't imagine that he won't be doing some kind of work. I hope that he continues at his current job as he seems to be enjoying it and he's not at the same crazy pace as he was early in his career. Maybe just knowing he can retire will be good enough for him to keep going -- just for his own productivity/sanity.

    I chose a 2nd career that I hope to be doing for a long, long time. Maybe my 80s or later if my health and mind allows it. I really enjoy it, it's very flexible and can be nice added income when my husband no long is working a full-time job.
    DD1 - 1996
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  8. #28
    gatorsmom is offline Pink Diamond level (15,000+ posts)
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    Quote Originally Posted by pinkmomagain View Post

    I chose a 2nd career that I hope to be doing for a long, long time. Maybe my 80s or later if my health and mind allows it. I really enjoy it, it's very flexible and can be nice added income when my husband no long is working a full-time job.
    Do you mind telling me what you do? It sounds like it fits my requirements too!
    " I object to violence because when it appears to do good, the good is only temporary; the evil it does is permanent." Mahatma Gandhi

    "This is the ultimate weakness of violence: It multiplies evil and violence in the universe. It doesn't solve any problems." Martin Luther King, Jr.

  9. #29
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    I became a therapist in private practice! I decide on everything: hours, days I work, vacation days, fee, the client population I want to work with. And I sit! Which will be great when I'm 85, lol.
    DD1 - 1996
    DD2 - 1999
    DD3 - 2005

    Surfaces are for working, not for storing. - Peter Walsh

  10. #30
    KrisM is offline Clean Sweep forum moderator
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    DH often says he's ready to retire now. He's 50 and we are not there yet. Most times he likes his job still, but I think it isn't as exciting as it was. He is hoping he can retire between 55 and 60, so not too much longer. At 55, DS2 will be in 11th grade, so that seems not right. I think we have to at least get DS2 launched into college so we know those expenses first.

    We have a fair amount saved for retirement. So far, so good. But, I don't know how to estimate that healthcare cost and I am sure it's huge.
    Kris

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