I retired from LE at 50. I still do some consulting - have gun, Ph.D...will travel.
At what age did you retire.........
- Thread starter BAM-BAM
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Benchrest1
Member
I retired 9 years ago at the age of 55. One of the best days of my life.
That large size is awfully damn big and they come in a 2-pack (i.e., you must buy two) at our local wholesale club... so yes, I do a "Bam calculation" any time I'm thinking about investing in a serious, long-term commitment like that.
On another note, I think this thread illustrates the incredible wisdom and foresight of going to work for a government entity or public utility early on... something that was never taught to us back in high school or in college for that matter. If I could do it all over again knowing what I know now, working in the private sector would be the last thing I'd ever consider.
OP
On another note, I think this thread illustrates the incredible wisdom and foresight of going to work for a government entity or public utility early on... something that was never taught to us back in high school or in college for that matter. If I could do it all over again knowing what I know now, working in the private sector would be the last thing I'd ever consider.
TTSH...... the salaries and pensions were a lot different way back in the day we were making our choices................
Today the question is are they sustainable .... given that most are underfunded. Not to be political..... a kindergarten teacher retired here after 30 years ......early 50s w/ benefits.... My understanding is we will be paying about 85-90% of the last years salary and benefits for maybe 30+ years...... plus the cost of the new teacher and benefits.......so in effect we are paying two people for one teaching slot. I fear it's a Ponzi scheme waiting to fail.................
I can understand firefighters and Police officers, and some union trades who can't physically do the job after X number of years...... 20 or more......my Dad did 39 but he was a Lt and Capt. for the last 20. But teachers and other civil servants..... can retire .....but may need to wait till they are 65 to collect pension benefits.ttt
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Well, all I can say is that my nephews-in-law are doing it right. Both are going to be able to retire very early with a great pension... assuming that the state they live and work in doesn't go bankrupt first.
Yes, sustainability of those amazing benefits it a real question but neither one is worried about it. 
But I am really talking about our generation. I have no pension at all... just Social Security and what I dare scrape out of my puny little rollover IRA, the ragged victim of both the dot.com crash and the great recession crash. You know how it has always worked for me: I bought high and I sold low... very, very low.
The public employees in our generation (baby boomers) will not see their pensions collapse except in the most extreme cases at the municipal level... but then watch the states or the Feds pick up the ball and run with it. That's my observation anyway.
Did I make more money in my private sector career vs. folks in public service? Very occasionally... yes. Overall career... no. And now in retirement, I live/survive on a mere pittance. Without the good wife's part-time income, we couldn't even afford to eat dog food.
OP
. Without the good wife's part-time income, we couldn't even afford to eat dog food.
LOL....... you might want to try the 'dog food". Our 13+year old Corkie is having some stomach issues...... the "food" the vet recommended is more than I spend on me!!!
Per pound I could get some good steaks!!!!
I retired at 51 after 30 years. Able to draw my pension and my TSP right away, and kept my health insurance at the employee rate. Laid out for a year and a half, until the county elections changed the landscape and a public official needed to fill a position. He couldn't find anyone he liked, and people kept suggesting he call me to see if I'd come out of retirement. He called, we talked, I tried to work out a part time gig, but eventually I went with him, mainly to help him out of a tough spot. It's a good job, not too taxing, and keeps me involved. The plus side is if I can last six more years, I can draw another pension when I finally give it up . . .
Got laid off at 60.5. Analyzed my finances for months leading up to it, mostly at 3 AM laying awake in bed. Every night, they came out good. Every night, I'd analyze them again. It was as if I was going to keep studying them til they came out bad.
When the layoff came, I said, "Okay, that's it." Haven't done anything productive since, 'cept keep golf course employees employed.
Several times a month I get letters from financial advisors willing to buy me a nice meal to get me to come to one of their seminars so I will hire them to tell me how to retire. Well, duh, I AM RETIRED, WHAT ARE YOU DOING, DUMB***?
The Great Transition is going from an accumulate mindset to an expend mindset. Very difficult after 40 years of work. As difficult, when I analyze my finances now, I realize I should be spending MORE, way more. The government will help when I turn 70.5, compelling me to make withdrawals from my tax deferred accounts.
When the layoff came, I said, "Okay, that's it." Haven't done anything productive since, 'cept keep golf course employees employed.
Several times a month I get letters from financial advisors willing to buy me a nice meal to get me to come to one of their seminars so I will hire them to tell me how to retire. Well, duh, I AM RETIRED, WHAT ARE YOU DOING, DUMB***?
The Great Transition is going from an accumulate mindset to an expend mindset. Very difficult after 40 years of work. As difficult, when I analyze my finances now, I realize I should be spending MORE, way more. The government will help when I turn 70.5, compelling me to make withdrawals from my tax deferred accounts.
Retired at 51; could have gone at 50 but wanted to get another year of savings socked away. Didn't mind, really as I was on "jamming time" and free to leave on a whim...
Cleared enough on the house sale when we moved to build another and own it free and clear the day we moved in. No debts, period.
We always lived below our means, saved regularly, made relatively few stupid moves, and were fairly lucky.
So far, so good.
Cleared enough on the house sale when we moved to build another and own it free and clear the day we moved in. No debts, period.
We always lived below our means, saved regularly, made relatively few stupid moves, and were fairly lucky.
So far, so good.
Rosco Shooter
Member
I "retired" at age 62, and then contracted back doing special projects for the next 11 years. Contracting back gave me some extra money to buy toys and take trips. Now I'm really retired, and while I enjoy planning my day after I get up, there seems to be a void that needs filling.
mike from st pete
Member
I was terminated at 57, so I decided I had enough and retired.
nachogrande
Member
WAY EARLIER THAN PLANNED
Medically retired due to an auto accident @ 53 y/o??? THEN the work really started! That honeydo list can kill ya.
Medically retired due to an auto accident @ 53 y/o??? THEN the work really started! That honeydo list can kill ya.
Wee Hooker
Member
I retired at 58 back 6 months ago. It seems pretty young until you consider at 57, I was the longest living male from my fathers side in 3 generations. ( Cancer has taken them all very early in life.) I had actually planned to retire at 56 when I hit 30 years, but still enjoyed working for the navy. Quite frankly, I had cold feet about giving up something that had been a part of me that long (not to mention the $).
I've since learned that retirement is a frame of mind that goes beyond finances. You need to be ready for it. (As a former adviser used to tell us, "You need to retire TOO something and not FROM something. ) I have no regrets but do sometimes miss the social aspects and "sense of worth" that my work brought. What I don't miss is the stress!
I've since learned that retirement is a frame of mind that goes beyond finances. You need to be ready for it. (As a former adviser used to tell us, "You need to retire TOO something and not FROM something. ) I have no regrets but do sometimes miss the social aspects and "sense of worth" that my work brought. What I don't miss is the stress!
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TomkinsSP
Member
Retire? To busy to retire, just gave up the day job so I would have more time to get my work done.
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I retired at 52, but didn't tell my employer until 10 years later.
We had an understanding: I pretended to work, and they pretended to pay me.
We had an understanding: I pretended to work, and they pretended to pay me.
Maple Trapper
Member
I retired at 69 for the second time, first time I was 51. Got bored and got a different job, driving school bus. I guess I retired in decent position, We live in a nice duplex (fully paid for) and the rent collected for the other side more than covers all of the taxes and expenses, then we own another real nice duplex, also fully paid for and we collect good rents there too. Over the years we have owned a lot of rentals, but have sold all but the remaining two.
We used to buy rentals with max. mortgage possible, but we are done buying now. My pension, plus my SS and my wife's SS (along with the cash flow from our blueberry farm and my maple business does us quite well).
I find it gives purpose to one's life to have something to do and I truly enjoy what I'm doing.
I had a grandfather who sat down in his easy chair the day he retired and less than 4 years later he died. My dad retired at 62 and worked at something every day (for himself) until he finally slowed and sat down at 87, he died at 91.
I have a friend who's father ran his own business and worked everyday until he was 101, not because he had to, but because he liked what he was doing,
Just remember, if you work at something you truly like, you never have to work a day in your life.
We used to buy rentals with max. mortgage possible, but we are done buying now. My pension, plus my SS and my wife's SS (along with the cash flow from our blueberry farm and my maple business does us quite well).
I find it gives purpose to one's life to have something to do and I truly enjoy what I'm doing.
I had a grandfather who sat down in his easy chair the day he retired and less than 4 years later he died. My dad retired at 62 and worked at something every day (for himself) until he finally slowed and sat down at 87, he died at 91.
I have a friend who's father ran his own business and worked everyday until he was 101, not because he had to, but because he liked what he was doing,
Just remember, if you work at something you truly like, you never have to work a day in your life.
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When I was younger I retired often. Romance and road trips, etc. Over the years I have done many things. The only career I regretted leaving was pharma rep. Six figures for bringing hot lunch to doctor's offices. At 53 I didn't look like Ken (or Barbie for that matter) and was at the top of the pay scale so a "Boop" got the gig for 1/2 price. I'm 64 now and as long as my health stays good, I'll keep on. Without work I lose my discipline. I been working with "disadvantaged youth" for 11 years and figure to keep on. The "groupthink" gets to me at times but once in awhile I think I might persuade someone from the path of destruction, a path I know every inch of. Joe
I retired at 64 1/2 after 19 years in a private trial practice, then 21 on the bench presiding over murder, rape, child molesting, drug, robbery and other felony trials along with civil trials, mostly wrongful death and divorces. I liked the people I worked with very much, but the whole thing was wearing on me so I decided to leave while I could still enjoy life. I still do a bit of part time stuff but I haven't regretted leaving one tiny bit. Elk hunting is way more fun when I don't have to be back to work on Mondays!
I'm 58 and I work a full time job, a part time job, plus do welding work on the side. I just bought a new 2017 RAM 2500 4x4 with the 6.4 litre Hemi. Looks like I'll be working for a while.
After 31 years as a Pilot in the Aviation Industry, I had to take a medical retirement. The MD said I had a disease that would kill me within 3-10 years and that was 9 years ago. In fact, I was pretty sick for the first two years, getting around on a walker, and with a lot of theraphy iinally I could walk with only a cane and now I can walk without any aid at all...slow but sure, and I've walked, and walked, and walked. On Valentines Day 2014 I had a Major neck surgery and it would take a year to heal properly. Then, 3 months later I had a quadruple by-pass and it would take two years to get my strength back to where I was before. Back to the dying part...well as I said it's been 9 years and I feel stronger than ever and decided to come out of retirement and now I have a full time job with a security company as a guard and walk a long way every day. This has been my physical salvation I think. I am happy and am having a blast at my new job. If I die...I die. The good Lord is in charge of that though and I don't even think about it. I just go to work every day, have a good time, and see if I can make a difference in someone else's life. Life is good!
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