At what age did you retire.........
- Thread starter BAM-BAM
- Start date
I retired at 66 and if I could go back I would retire at 62. I thought I needed to stay to get full SS but I learned after I retired I was better off than I thought. The up side is it gives me a little more cash for toys. The down side is I missed four years of retirement with good health. My advice to anyone that even suspects they can afford to retire DO IT. You never know how long you will be blessed with good health. Another mistake I made was putting off projects around the house until after I retired because now I'm not able to do a lot of them. I do manage to go to the gun club at least once a week and I take my wife junking once a week. While I don't post very often I am here most every day enjoying others post. Dan
SweetMK
Member
No male was EVER known to live past 52 on my father's side.
Well,, I went to college, saved like crazy, and retired at 47.
I am 67 now, and it was a fabulous plan.
I was assisted by several stock splits that occurred regularly in the late 1980's and early 1990's.
I have done some very minor contract type work, mostly to keep me into the latest technology.
AND that work has funded my gun purchases,,,
I was shocked how much money I had available when I turned 65 and health insurance went onto the governments nickel.
At 64, my health insurance was costing me over $1,200 a month.
At 65, that bill basically went to zero. Health insurance is the big unknown.
In my county, there are many people my age that drive school bus' for the health benefits.
Well,, I went to college, saved like crazy, and retired at 47.
I am 67 now, and it was a fabulous plan.
I was assisted by several stock splits that occurred regularly in the late 1980's and early 1990's.
I have done some very minor contract type work, mostly to keep me into the latest technology.
AND that work has funded my gun purchases,,,
I was shocked how much money I had available when I turned 65 and health insurance went onto the governments nickel.
At 64, my health insurance was costing me over $1,200 a month.
At 65, that bill basically went to zero. Health insurance is the big unknown.
In my county, there are many people my age that drive school bus' for the health benefits.
Tinhack
Member
SS takes a good sized chunk out for every year before age 67. I think it was 6-7% per year. Everything is paid off so I can live well on my SS. I took mine at 65 due to RA and AA hitting me hard. I just turned 67 last Monday (23rd) and still waiting for the "wonder drugs" to kick in. Some days are better than others but at least I'm not on any opiates. Hobbies and the "ranch" keep me busy. I just got a new-to-me Bridgeport mill up and running and accumulating tooling. I've had a lathe for 15 or so years. I've wanted a mill for years but couldn't afford it while I was working. 
As far as shooting, I shoot whenever I want right here. I have a 50yd range that could easily be expanded to 100yds but I don't hunt anything but rattlesnakes and hogs. With the brushy areas here, you'd be lucky to get a 20yd clear shot. I practice SD and carry tactics so I really don't need much range for that.
If I could nip this RA once and for all, I'd go back to chasing girls.
As far as shooting, I shoot whenever I want right here. I have a 50yd range that could easily be expanded to 100yds but I don't hunt anything but rattlesnakes and hogs. With the brushy areas here, you'd be lucky to get a 20yd clear shot. I practice SD and carry tactics so I really don't need much range for that.
If I could nip this RA once and for all, I'd go back to chasing girls.
If I could nip this RA once and for all, I'd go back to chasing girls.
You can still chase girls.
There's no bones and joints in the hidraulic system.
I deferred Sociable Security to 66.
Hadn't planned to. I had weighed the pros and cons of deferring and decided to sign up. I signed up on da web the month I turned 62. Nice lady from Tampa office called me two days later. At 7:55 AM. I remember as I thought it was an unusual time.
She asked me if I wanted to sign up for the death benefit from my first wife. I said, "Wuh?" She explained to me that I was eligible for her social security at age 60. You can't get both, but I signed up for hers, which was about 65% of what I would have gotten. That benefit radically changed the immediate/defer analysis, making deferring obvious.
Note I was 62. Could have signed up at 60. Two years - $25,000 - and no one ever told me about it til SSA lady did.
Deferring was worth $16 per month per month. Financially, I could have deferred beyond 66, but I had a few medical issues that slapped me in the face and said, "Dude, you ain't going to live forever."
If you have a choice as to deferring - many don't - the old standard was 78 (one expert I know says 76). If you expect to live beyond 78, defer. If not, start it early. Well, you just don't know how long your are going to live, do you?
Two hints.
- How long did your parents live? What about your aunts and uncles?
- How do you feel?
These are just hints, not facts. My father made it to 90, my mother is still living at 97. You know what that guarantees me? Double ought nothing.
But having good genes is better than not.
Hadn't planned to. I had weighed the pros and cons of deferring and decided to sign up. I signed up on da web the month I turned 62. Nice lady from Tampa office called me two days later. At 7:55 AM. I remember as I thought it was an unusual time.
She asked me if I wanted to sign up for the death benefit from my first wife. I said, "Wuh?" She explained to me that I was eligible for her social security at age 60. You can't get both, but I signed up for hers, which was about 65% of what I would have gotten. That benefit radically changed the immediate/defer analysis, making deferring obvious.
Note I was 62. Could have signed up at 60. Two years - $25,000 - and no one ever told me about it til SSA lady did.
Deferring was worth $16 per month per month. Financially, I could have deferred beyond 66, but I had a few medical issues that slapped me in the face and said, "Dude, you ain't going to live forever."
If you have a choice as to deferring - many don't - the old standard was 78 (one expert I know says 76). If you expect to live beyond 78, defer. If not, start it early. Well, you just don't know how long your are going to live, do you?
Two hints.
- How long did your parents live? What about your aunts and uncles?
- How do you feel?
These are just hints, not facts. My father made it to 90, my mother is still living at 97. You know what that guarantees me? Double ought nothing.
But having good genes is better than not.
55. Didn't want to, but I got an offer I couldn't refuse, and the woman I worked for was the textbook definition of a female dog. It'll be 13 years next month. The only thing I miss about the job is the money.
Last edited:
km101
Member
Retired at 61 because of vision problems. Figured I better have some fun before I went blind! Doctors said I would be blind in 2 years. Six years later I still see well enough to enjoy my hobbies.
Retirement is great! Every night is Friday night and every day is Saturday?
Retirement is great! Every night is Friday night and every day is Saturday?
I'm 73 and still trying. I no longer have to climb windmills, but I'm the one who has to keep up insurance, land leases, deal with the Govt, and pay the bills. I knew when I went back to ranching that it was a life sentence.
99savage308
Member
age 66 just a few months ago June 30th 2017. Loving it.
TomkinsSP
Member
PlaytheAces
Member
My company became embroiled in a hostile takeover. Before the smoke cleared, they offered an early retirement package. I took it, even though I'd planned on working a few more years. I was 56 at the time and had positioned myself decently from a financial standpoint, so it was really more of a change in lifestyle challenge than anything else.
After the takeover was eventually successful, the new owners really gutted things. I ended up being really glad I took the offer. About a year later I was diagnosed with rheumatoid arthritis, so any thoughts I had about working part time went out the window. Which was actually fine with me.
That was nine years ago. In the final analysis it took me about five minutes to adjust to retirement. I have no idea how I ever found the time to work.
After the takeover was eventually successful, the new owners really gutted things. I ended up being really glad I took the offer. About a year later I was diagnosed with rheumatoid arthritis, so any thoughts I had about working part time went out the window. Which was actually fine with me.
That was nine years ago. In the final analysis it took me about five minutes to adjust to retirement. I have no idea how I ever found the time to work.
I have no idea how I ever found the time to work.
I figured it out after a few years. When I worked, I had to manage my time. Which I did, very well. After retirement, I got sloppy with my time, because I could. Once I figured it out, I didn't try to change back. "I can do that tomorrow" works fine for me.
MORSNO
US Veteran
This has been my favorite thread recently, very informative and interesting to see what ages and why folks chose to retire. I'm hoping to retire sometime after I turn 55, but we'll see. I have my military pension (20yrs), 401k (14 years investment so far), Roth IRA (I hate the annual cap based on income), and personal stock/mutual fund investments.
Something else potential retirees should be aware of . . . when you retire, withholding goes down. Taxes go down. No more deductions for Sociable Security, etc. Between my pension and SSA, my net income is higher today than when I was working.
For analyzing your future finances, learn what deductions will change.
For analyzing your future finances, learn what deductions will change.
As an added bonus, here in the Show Me State, LEO pensions are not taxed by the state up to a certain threshold, which is mighty high . . .
S&WsRsweet
Member
I retired in 09 at 60 years but was actually semiretired since 50 as I sort of eased in to my retirement .
Similar threads
