With very minor changes, Grant, I could have written that myself. I had 20 really good years with IBM. The last 2 turned into a real nightmare and with some detailed calculation, I decided to take the risk and retire on a shoestring in 2003 at 55 instead of our planned 58. The same situation happened with my wife at Lockheed and we retired at the same time. Things fortunately have worked out as we carefully managed our budget and spending. We're in a much better place today -- balance. Now repeat your final paragragh.Good for you!! Exciting time of life for sure. Best wishes @ChuckO
I retired Jan 1, 2022, early retirement at age 55 and could not be happier with the choice....well, I suppose a larger bank account would make me happier, but then I'd still be working. So, I chose a more cash conservative quality of life over the slave pit. Balance. That, and men in my family tree are not super long lived, so figured I better get out while the getting is good. I know too many people that retired and then didn't get too many good years in afterwards.
It's crazy how there always still seems to be something to do...don't know how I managed to hold a full time job and still get things done!
Amen! I believe that's Tulum Beach (north of Playa del Carmen beach) and if it weren't for the sargassum seaweed that's ruining the area, I might have retired there. It was breathtaking beautiful until that seaweed started showing up (almost 10 years ago)@ChuckO If you live at that first photo, i suggest walking now!![]()
I retired April 1st, 2020 after 40 yrs with the gas company. I got out of there in the nick of time.April 1st 2020, I'm doing the days since retiring.![]()
It's funny how some of us are early birds and others are night owls! And curiouser still is why those terms are for the birds!it was a countdown to my last day that i never deleted.. so, yeah, it kinda reminds me how long i've been screwing around the house doing nothing!
i tend to stay up longer now, but i still am up and moving around by 6am the latest... never slept in as sleeping in goes.
and the first thing i did after retirement was unplug the alarm clock and tossed it in the donation box.
someone else can wake at 330 with that thing.
You should own cats, LOLI hate to go to bed, always have. Life is too short for sleeping. I like the coolness and quiet and solitude of the late evening and early morning hours, when the hum of life is at a slow ebb.
I used to work / travel to/from work on average of 15 hours a day (3AM to 6PM) I hate to think how much of my life was lost to thatI just saw an item yesterday that said the average person spends 26 years of their life sleeping. May seem a lot, but 8 hours is 1/3 of a day. 26 years is 1/3 of a 78 year life.
Unless you're collecting already, SS doesn't kick in until the month after your 70th B'day. Apologies if you already knew that!I plan to pull the plug on November 17, been working for over 47 1/2 years, I'm tired and worn out, too many hours and miles. Deer gun season opens the 18th, my birthday is the 22, was going to work till the 21st but thought why ruin a great week lol. probably should work a few more years but we will get by ok. I have skills to work a little on the side doing ac or fridge work. I won't ever have a full time job again.
Social Security Benefits |
Office of the Chief Actuary | ![]() Early or Late Retirement? |
When To Start Receiving Retirement Benefits Benefit calculators How we calculate benefits | Workers planning for their retirement should be aware that retirement benefits depend on age at retirement. If a worker begins receiving benefits before his/her normal (or full) retirement age, the worker will receive a reduced benefit. A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after normal retirement age may result in larger benefits. With delayed retirement credits, a person can receive his or her largest benefit by retiring at age 70. |
Early retirement reduces benefits | In the case of early retirement, a benefit is reduced 5/9 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month. For example, if the number of reduction months is 60 (the maximum number for retirement at 62 when normal retirement age is 67), then the benefit is reduced by 30 percent. This maximum reduction is calculated as 36 months times 5/9 of 1 percent plus 24 months times 5/12 of 1 percent. |
Delayed retirement increases benefits | Delayed retire |
Age | Annual | Running | Annual | Running | Difference | |
62 | 14,000 | 14,000 | 0 | 0 | 14,000 | |
63 | 14,000 | 28,000 | 0 | 0 | 28,000 | |
64 | 14,000 | 42,000 | 0 | 0 | 42,000 | |
65 | 14,000 | 56,000 | 0 | 0 | 56,000 | |
66 | 14,000 | 70,000 | 0 | 0 | 70,000 | |
67 | 14,000 | 84,000 | 20,000 | 20,000 | 64,000 | |
68 | 14,000 | 98,000 | 20,000 | 40,000 | 58,000 | |
69 | 14,000 | 112,000 | 20,000 | 60,000 | 52,000 | |
70 | 14,000 | 126,000 | 20,000 | 80,000 | 46,000 | |
71 | 14,000 | 140,000 | 20,000 | 100,000 | 40,000 | |
72 | 14,000 | 154,000 | 20,000 | 120,000 | 34,000 | |
73 | 14,000 | 168,000 | 20,000 | 140,000 | 28,000 | |
74 | 14,000 | 182,000 | 20,000 | 160,000 | 22,000 | |
75 | 14,000 | 196,000 | 20,000 | 180,000 | 16,000 | |
76 | 14,000 | 210,000 | 20,000 | 200,000 | 10,000 | |
77 | 14,000 | 224,000 | 20,000 | 220,000 | 4,000 | |
78 | 14,000 | 238,000 | 20,000 | 240,000 | (2,000) | |
79 | 14,000 | 252,000 | 20,000 | 260,000 | (8,000) | |
80 | 14,000 | 266,000 | 20,000 | 280,000 | (14,000) |
There is one thing good about california, and that's salaries. It doesn't equate to anything because california has big cost of living so salarywise, it's just push comes to shove when comparing to salaries outside of california. However, the one difference is that the high salaries result in good social security, as social security is based on your 35 years of highest wages.Only a relative few will make 20K in SocSec.
Actually $20K is considerably low Social Security if based on a california wage. I plan to take my social security wages and move to TN or KY, or even FL but probably TN. Between my Social Security and my T-Bills in my IRA currently making 5.5% and federally insured, my retirement years will be my best yearsEdit: Oops, I missed the 20K at 67, so yes, the chart become relevant for a SocSec only retirement.
I assume you mean your best years financially and that would be great. But as you've seen here and likely elsewhere, retirement will likely just be "your best years".There is one thing good about california, and that's salaries. It doesn't equate to anything because california has big cost of living so salarywise, it's just push comes to shove when comparing to salaries outside of california. However, the one difference is that the high salaries result in good social security, as social security is based on your 35 years of highest wages.
Actually $20K is considerably low Social Security if based on a california wage. I plan to take my social security wages and move to TN or KY, or even FL but probably TN. Between my Social Security and my T-Bills in my IRA currently making 5.5% and federally insured, my retirement years will be my best years