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my friend just retired at age of 48
Posted by: space-time
Date: September 02, 2020 08:20PM
In Romania. he worked for 25 years as a correction officer at various institutions, none of them with normal prison population. I think one was a correction center for juveniles and one for mentally disables patients. Anyway, when I visited him 5 years ago he said he would like to retire and today I got the message that he did it. Apparently his pension is about 90% of what is salary was and he can live comfortably with that money, he does not have higher goals in live.

I could also retire, with my "net worth" (according to today's stock market) I could live comfortably in Romania for the rest of my life I guess. But I feel too young to retire, I want to do more and I want to stay in USA when I retire. I cannot afford to retire here at this time. I am on track to be able to retire in about 15-20 years.
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Re: my friend just retired at age of 48
Posted by: August West
Date: September 02, 2020 08:23PM
Retire, brother nicethread



Picasso in his studio after the liberation of Paris, taken by my friend and mentor.

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Re: my friend just retired at age of 48
Posted by: sekker
Date: September 02, 2020 08:56PM
We had our second-in-command Police Chief (forget the formal title) retire at the age of 42 at 50% of his pay for the rest of his life since he hit his 20 year service mark. He left in a huff because he was not made the new Police Chief.

My sister retired in her 40s from the US Navy after 20 complex years of service, including multiple tours on aircraft carriers back when women were definitely the minority on active duty ships. When she retired, I had just started my first faculty job...
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Re: my friend just retired at age of 48
Posted by: Markintosh
Date: September 02, 2020 08:59PM
I am quite happy to pull off retiring at 54 with 30 years in the system.

Four years later, my old job is open again, and you couldn't pay me enough to go back, even temporarily.



“Live your life, love your life, don’t regret…live, learn and move forward positively.” – CR Johnson
Loving life in Lake Tahoe, CA
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Re: my friend just retired at age of 48
Posted by: lost in space
Date: September 02, 2020 09:02PM
I've run into people who retired too early. Some were former Apple employees with early stock in the 80s, a few others in a town in Mexico that has a lot of retired Americans. They were young and financially comfortable, but seemed lost, sort of untethered, aimless. I, however, am enjoying retirement immensely in my sixth year.



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Re: my friend just retired at age of 48
Posted by: Speedy
Date: September 02, 2020 09:22PM
I involuntarily retired at 58 due to the Great Recession. My wife enjoys her job and makes enough for me to enjoy my golden years without worry although due to the thing-that-cannot-be-mentioned on this side, she is planning to retire at the end of ‘21.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: my friend just retired at age of 48
Posted by: mattkime
Date: September 02, 2020 09:24PM
I'm pretty sure I have a coworker who retired by age 30. I think he lived simply despite earning a good salary and stock options put him over the top.



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Re: my friend just retired at age of 48
Posted by: testcase
Date: September 02, 2020 09:52PM
I thought I was lucky being able to retire at 59. I DON'T miss work at all! old fogey smiley
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Re: my friend just retired at age of 48
Posted by: mrbigstuff
Date: September 02, 2020 10:12PM
I'm not sure what retiring means any longer. If work is so bothersome that you would rather not do it, and read all day on the beach, I guess that is a goal. But not one I would aspire to. If you can't work, that is a quite different story, but I gather that a lot fo the folks mentioned above are still able-bodied enough to work, but chose not to. I hope that they are happy.
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Re: my friend just retired at age of 48
Posted by: anonymouse1
Date: September 02, 2020 10:20PM
I really really REALLY like my job. If I had it three days a week at the same pay, the would be perfect--there are a ton of other even MORE interesting things I'd like to do!
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Re: my friend just retired at age of 48
Posted by: sekker
Date: September 02, 2020 10:21PM
Quote
mrbigstuff
I'm not sure what retiring means any longer.

I have a number of meaningful projects I'd like to complete if I did not have my 'day job' taking all of my time.

So 'retirement' in my case just means the next thing...
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Re: my friend just retired at age of 48
Posted by: mrbigstuff
Date: September 03, 2020 12:03AM
Quote
sekker
Quote
mrbigstuff
I'm not sure what retiring means any longer.

I have a number of meaningful projects I'd like to complete if I did not have my 'day job' taking all of my time.

So 'retirement' in my case just means the next thing...

Well this is an illustration of my point: you would not be retired, only that you left your current gig for something else.
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Re: my friend just retired at age of 48
Posted by: d4
Date: September 03, 2020 06:10AM
It's tough to fully retire before 65yo in the US, some people work just for the health insurance. No need to get political. It is what it is.



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Re: my friend just retired at age of 48
Posted by: rgG
Date: September 03, 2020 07:20AM
Quote
d4
It's tough to fully retire before 65yo in the US, some people work just for the health insurance. No need to get political. It is what it is.

I went back to work part time to have something to do, after we moved and downsized. I was very happy with PT, but I went FT after about a year and a half, just to get better, more affordable, health insurance. Covid put a stop to that, as I had to quit because of the risk to my husband, and myself. Luckily, I am able to COBRA my health insurance until I hit 65.





Roswell, GA (Atlanta suburb)



Edited 1 time(s). Last edit at 09/03/2020 07:20AM by rgG.
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Re: my friend just retired at age of 48
Posted by: Bill in NC
Date: September 03, 2020 07:53AM
Military allows for early retirement as well...plenty at my last college reunion were retired O-5.

Given veteran preferences many had moved straight into federal jobs and will enjoy both military and federal civilian retirements benefits.

I'm begging my kids (who owe service time as repayment for undergraduate scholarships) to go career, even if it means moving to Guard/Reserves after their active duty obligation is satisfied.

One already has a decade-long active duty commitment anyway.



Edited 1 time(s). Last edit at 09/03/2020 07:54AM by Bill in NC.
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Re: my friend just retired at age of 48
Posted by: d4
Date: September 03, 2020 08:11AM
Quote
rgG
Quote
d4
It's tough to fully retire before 65yo in the US, some people work just for the health insurance. No need to get political. It is what it is.

Luckily, I am able to COBRA my health insurance until I hit 65.

Lucky is right. When I was between jobs, the Cobra payment for me and my family was over +$3000/mo. On top of mortgage and bills. If you can afford Cobra, go for it and enjoy retirement!



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Re: my friend just retired at age of 48
Posted by: mspace
Date: September 03, 2020 08:50AM
Retirement is a non-option, both in finance and desire. But as freelancers, with the ability to pick and choose our schedules, etc., we don't feel as much of the grindstone as 9-5'ers. The job becomes balancing everything out.
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Re: my friend just retired at age of 48
Posted by: cbelt3
Date: September 03, 2020 08:51AM
I could retire. If I was willing to see my wife die. Healthcare cost is insanely broken in the US. My aunts and uncles in France retired at 60. They have a lovely life (one Uncle passed away at 80). My other uncle shares tales of his gardening in the south of France where they moved. The village is close to the sea, and its quiet and peaceful EXCEPT during Les Vacances. They go visit grandchildren for a couple of weeks during that.

I'm hoping to be able to retire in 6 or 7 years. I'm still supporting three adult children and a wife who is chronically ill. So I may never retire. Since I can work from home, it's not really that bad.
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Re: my friend just retired at age of 48
Posted by: NewtonMP2100
Date: September 03, 2020 09:28AM
....I still have to support some athletics [ yes, an athletic supporter ]......so will be working until health fails.....



_____________________________________

I reject your reality and substitute my own!
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Re: my friend just retired at age of 48
Posted by: Mike Sellers
Date: September 03, 2020 10:19AM
Quote
d4
It's tough to fully retire before 65yo in the US, some people work just for the health insurance. No need to get political. It is what it is.

Yep. Shooting for my full retirement age of 66 1/2 which is another 3 1/2 years away. My wife is a little over a year younger than me but she should be 65 by then and can get on Medicare.

We recently discussed what we'll do when we're able to travel again. I suggested visiting ex-pat communities around the world where our dollars will stretch and hopefully not be bankrupted for medical reasons.
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Re: my friend just retired at age of 48
Posted by: jdc
Date: September 03, 2020 10:36AM
Quote
mrbigstuff
I'm not sure what retiring means any longer. If work is so bothersome that you would rather not do it, and read all day on the beach, I guess that is a goal. But not one I would aspire to. If you can't work, that is a quite different story, but I gather that a lot fo the folks mentioned above are still able-bodied enough to work, but chose not to. I hope that they are happy.

Yeah, kinda in the same boat. Even now, when I do take days off.... I often am bored out of my gourd.

Wife will retire in about 8 -10 years, and because its a goverment job, leaves with 90% of her pay intact forever. She hates her job... but is also bored when not working.

Shes not a camper, or an RVer or even much of a DIY house person. And we are about to move into a brand new house... no fixing up necessary. She would love to travel -- but only stay in nice hotels and eat out... which is $$,$$$ fast.

We plan on staying in this new house for 10 years or so, taking the equity (provided 2008 doesnt happen again) and downsizing... somewhere. might depend on where the 2 kids end up. We have told them to go and do whatever they want, wherever they want. We have no extended family. No grandparents, 1 uncle and 2 cousins that they arent really close to their age... and thats it.

Still a lot to think about.



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Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: my friend just retired at age of 48
Posted by: Mike Sellers
Date: September 03, 2020 10:44AM
Between selling off my old comic books and cataloging old family photos, I've have plenty to do in my retirement years.
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Re: my friend just retired at age of 48
Posted by: mikebw
Date: September 03, 2020 11:40AM
Quote
Mike Sellers
Between selling off my old comic books and cataloging old family photos, I've have plenty to do in my retirement years.

I think it really depends on how much one has left undone from before retiring. My mother retired several years ago and still has tons of stuff to keep her busy, like going through old papers and photos, getting rid of things that are no longer needed etc...
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Re: my friend just retired at age of 48
Posted by: Lew Zealand
Date: September 03, 2020 01:12PM
I know myself.

If I retire I will turn into a potato and that's not good. Kind of like Cinderella at midnight except I'm the carriage. I'll need to continue working in some fashion but I'm more than 15 years away from that so we'll see how that plays out.

I'm in Edu so none of these pensions or 90% salary things but I'm at least vaguely competent with finances so we'll probably not go bust.
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Re: my friend just retired at age of 48
Posted by: Michael
Date: September 03, 2020 02:33PM
My wife and I were both in Teacher's Retirement in GA. She was in the school system as director of technology and retired the moment she could. She had worked it out to the day, using unused sick days as credit to her retirement. Given that the school records were lost in a flood and so we weren't exactly sure about how many days they would credit her and further given that if she missed it by a day it would have cost 7% of her retirement forever, I asked her if she'd work an extra month, just to be sure. So, she retired at 30 years and 1 month. And is very happily golfing and selling her mother's old stuff from an antique store on eBay. I kept working until I had 38 years with 2 years of unused sick time at my college. In our system once you get to 40 years there's no increase in pension amounts. So, I pulled the plug last year. I golf and occasionally get up to help my wife with crafts (we just finished a glass mosaic outdoor coffee table) and outdoor work. But, mostly I read. I'm loving it.

Space--you posted yesterday and noted you could retire at those stock prices. Today the market drop might impact retirement plans for many!
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Re: my friend just retired at age of 48
Posted by: tenders
Date: September 03, 2020 04:13PM
I tell my team that I am planning to die at my desk, possibly after being shot by a disgruntled colleague. I try to ignore the subsequent high-fiving they seem to do.
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Re: my friend just retired at age of 48
Posted by: qdog2
Date: September 03, 2020 04:36PM
Well I retired 2 days ago. I'm going to take about 2 months off and then look for something else to do. When I was working I would only take
1 week off at a time because any more than that was boring.



Portsmouth, Va
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Re: my friend just retired at age of 48
Posted by: N-OS X-tasy!
Date: September 03, 2020 04:50PM
Quote
tenders
I tell my team that I am planning to die at my desk, possibly after being shot by a disgruntled colleague. I try to ignore the subsequent high-fiving they seem to do.

On the bright side, it's good to know where one stands with one's colleagues. smiley-laughing001



It is what it is.
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Re: my friend just retired at age of 48
Posted by: sekker
Date: September 03, 2020 06:44PM
Quote
qdog2
Well I retired 2 days ago. I'm going to take about 2 months off and then look for something else to do. When I was working I would only take
1 week off at a time because any more than that was boring.

Congrats!
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Re: my friend just retired at age of 48
Posted by: Bo
Date: September 04, 2020 12:27AM
Quote
jdc
Quote
mrbigstuff
I'm not sure what retiring means any longer. If work is so bothersome that you would rather not do it, and read all day on the beach, I guess that is a goal. But not one I would aspire to. If you can't work, that is a quite different story, but I gather that a lot fo the folks mentioned above are still able-bodied enough to work, but chose not to. I hope that they are happy.

Yeah, kinda in the same boat. Even now, when I do take days off.... I often am bored out of my gourd.

I find the idea of boredom to be so fascinating. It’s a concept that I cannot relate to.



Edited 1 time(s). Last edit at 09/04/2020 12:38AM by Bo.
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Re: my friend just retired at age of 48
Posted by: jdc
Date: September 04, 2020 11:42AM
Quote
Bo
I find the idea of boredom to be so fascinating. It’s a concept that I cannot relate to.

Before I got married or started really working -- I would prob agree with you.



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Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: my friend just retired at age of 48
Posted by: davester
Date: September 04, 2020 11:56AM
I am eager to retire, but won't do so for another year and a half because that's when I pass an important pension vesting point. I view retirement as moving to a part of my career where I can do whatever I want rather than worry about whether it pays enough to support my family. Settling into the traditional vision of sitting on the couch with occasional golf rounds is not my idea of what retirement should be. I'm excited thinking about perhaps teaming up with my graduate advisor and/or former fellow graduate students to do some interesting geological research, combined with travel to faraway places. I am completely puzzled by people who think of retirement as boring. The world is your oyster with an infinite number of possibilities ripe for the picking.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: my friend just retired at age of 48
Posted by: davester
Date: September 04, 2020 12:00PM
I am eager to retire, but won't do so for another year and a half because that's when I pass an important pension vesting point. I view retirement as moving to a part of my career where I can do whatever I want rather than worry about whether it pays enough to support my family.

Settling into the traditional vision of sitting on the couch with occasional golf rounds is not my idea of what retirement should be. I'm excited thinking about perhaps teaming up with my graduate advisor and/or former fellow graduate students to do some interesting geological research, combined with travel to faraway places. There are so many other things I want to do...take up sailing more seriously, do more woodworking, learn to fly, etc, etc (not to mention finishing my epic honey-do list for our home). I am completely puzzled by people who think of retirement as boring. The world is your oyster with an infinite number of possibilities ripe for the picking.



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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