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Old 12-25-2019, 03:01 PM
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martinbns martinbns is offline
Join Date: Mar 2016
Location: Winnipeg, MB
Posts: 1,485

I took a package and retired early due to changes to our Company pension in March of 2018. I took the summer off then started looking for a job that was less stressful that would still allow me to enjoy working.

Found that in Nov, have enjoyed it. I work about 60% of the hours with about 50% of the stress and make about 85% of the money. I will completely pull the pin in 4-5 years when 60-61 and suspect I will have no trouble adjusting at that point.
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Old 12-25-2019, 03:51 PM
Bugler Bugler is offline
Join Date: May 2015
Location: Lees Summit, MO
Posts: 1,345

Your concerns are reasonable. If you like to travel and if your retirement budget will allow you to travel, I have to say that the time of planning a trip can be as enjoyable as the eventual trips themselves.

That said, like you, I am concerned about what I would do in retirement, especially during the winter months. I am subject to the blues when stuck inside and I dislike winter weather as a result. For me, it may come down to relocating to a state with better winter weather so I can hike and explore as long as health allows.

I visit a lot of retirement sites and as others have indicated, they talk about finding activities that will make you happy and also help fill some time such as volunteering, taking up a hobby, etc. However, what seems most critical is focusing on your health and doing activities to stay physically active.

Think outside the box. if you like to walk, consider joining local groups that do 5k walk/runs, as many have a circuit that covers months and months, which allows you to form new personal bonds with others. Or perhaps, you can teach people to read, or shuttle others to get groceries, go the doctor appointments, etc. There are so many folks that will appreciate your skills and time you can spare.

Depending on state teaching requirements, consider being a substitute teacher one or two days a month, or week. Personally, my biggest passion is talking about money, retirement planning, general financial guidance to folks of all ages so I could volunteer to provide financial guidance at a church or teaching kids as a substitute teacher while in retirement.
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Old 12-25-2019, 04:21 PM
t05ks t05ks is offline
Join Date: Aug 2015
Posts: 23
Default Freaking out

Good to see that most of these feelings are a bit universal. Wasn't planning on retiring quite so early due to the time of year (winter) but, with the new GAT rate for 2020, there was just too much of a hit on the pension not to go before years end. At this point working another year hoping that the rate goes up (and not down again) wasn't really an option, just getting too burned out. Wife, bless her soul, understands where I am at in my career an really encouraged me to call it. She plans on working for several years yet which allowed me to take the next step. Yes, the medical part is one of the big concerns for people when considering retirement. I do know one thing for sure, this whole retirement thing seems like it got here way too fast! Maybe that is what scares me the most lol. Thanks for the replies everyone!
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Old 12-25-2019, 04:26 PM
walleyecheek walleyecheek is online now
Join Date: Jun 2018
Posts: 841

I wish I had that problem ( freaking out over retirement !!!)
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Old 12-25-2019, 06:42 PM
Bugler Bugler is offline
Join Date: May 2015
Location: Lees Summit, MO
Posts: 1,345

Just because you left one job with your pension does not mean you cannot work somewhere is for a few years if you want more time to mentally and financially prepare yourself.

I am 57. I qualify for early retirement tomorrow, 12/26/2019. Basically what that does is lock in the option to leave and retain my health insurance at normal employee rates. However, since I lose 5% of my pension for every year I retire before the age of 62, I do not want to give away 25% of my pension by leaving early.

Two years ago, I qualified for my pension from my former job. Again, I have not started drawing that pension yet either and that benefit goes up 5% each year until I reach the full pension age of 65. However, I plan to retire at age 63 and then defer taking SS until probably age 66. Why not take my pensions now? We like to travel and I want to pay off some things first. Plus, we make a pretty good income that is tough to give up at the moment and taking my pension now would hurt in two ways, it locks in my benefit rate at a lower amount and a larger chunk of the pension would get taxed federally because of my income.

Earlier this year I was diagnosed with an illness that may shorten my life expectancy 10-15 years so I may not make it to retirement. So while I have a plan, everything is subject to change.
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Old 12-25-2019, 07:37 PM
DW DW is online now
Join Date: Jan 2004
Posts: 2,101

I was fortunate to retire at 63 and with no regrets. I love retirement!

I didnít feel negative thoughts about retirement then or now. Sometimes I think about the personal relationships and the exciting and enjoyable parts of work. Those thoughts diminish with time.

Since a lot of the participants active on this forum live in a winter season, I think winter deserves direct discussion. If you get down in retirement it will be in the wintertime. I dealt with this by enjoying extended wintertime exit plans, spending a month in SW Florida with my boat, and other warm weather excursions. I now have a warm weather second home and am a dedicated snow birder. There are warm wintertime options that fit many retirement budgets.
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Old 12-25-2019, 08:50 PM
Baseline Baseline is offline
Join Date: Oct 2010
Location: Northern, MN
Posts: 2,527

Retirement is different for everyone. My recommendation is to keep up with your outside of work activities and get involved some of those hobbies, community service or travel that you always wished you had time to do. The number of people who get jobs after retiring is on the rise , so that might be a plan. Also make sure you do some sort of regular excise daily or close to it.

Expenses continue after retirement. Things still break, cars ware out, roofs need replacing, taxes go up, etc......... If you haven't figured out your finances, keep working.

The 2020 Censes is begging for people to work. You can work part of full-time and it is temporary Pay is decent too. That might be the type of job to ease you into the retirement mode.

Last edited by Baseline; 12-25-2019 at 08:52 PM.
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Old 12-25-2019, 08:55 PM
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Dave in Walker Dave in Walker is offline
Join Date: Nov 1999
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Posts: 1,101

My anxiety lasted about 24 hours retired at age 51, 19 years ago, never looked back, fortunate that my ducks were in a row, loved my job, but retirement is way better, for me anyway
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Old 12-26-2019, 04:20 AM
btyreprich btyreprich is offline
Join Date: Nov 2013
Location: Yorkville, IL
Posts: 824
Default freaking out over retirement

Happy for you folks that were able to retire at a relatively young age.
Would some of you mind telling me what you did for a living that allowed you to retire when under 60?
I myself will be 63 next year and will have to work until I can get on Mecicare at 65.
(Full social security benefits at 66 1/2)
Enjoy retirement & happy holidays!
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Old 12-26-2019, 06:25 AM
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Bobby Winds Bobby Winds is offline
Join Date: Jun 2015
Location: WNY
Posts: 9,725

Retirement age is different for just about everyone.........financially is usually the #1 factor in all of this. No one wants to retire if the know they can't afford it but sometimes these concerns are false concerns.

When I was forced to retire early I also had the same concerns but after talking to my union president who was my best friend at work he along with the union lawyer walked me through how things will unfold.

You see, once retired I no longer pay NYS income tax, RRR Tier 1, RRR Tier 2, medicare or union dues..........this actually made my retire benefits more then my weekly salary if no overtime that week. I also pay much less in federal RRR benefits.......bottom line I have more money now.

As far as what to do with your time..........well you must fish because you're on a fishing forum ...

You can always pick up a part time job.......I drove our town seniors for 11 years twice a week and then only once a week.......or volunteer for a worthy cause.

And Remember, once retire EVERYDAY IS SATURDAY > > > > >
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