Retiring early "need to do something" stigma

[twobone]

Being Canadian means I don't have to worry about massive health care costs and I will be able to buy retirement prescription and dental benefits from my employer when I retire which is great.

I have always been risk averse in a lot of ways and swapping the regular pay check for a pension cheque of about 50% net pay will be a shock.

I do love this forum, because I can't really talk about this with a lot of folks

thanks

[dmcummins]

I retired at 50, that was 12 years ago. Life’s been great so far. I figure I don’t know how much time I have, so why would I want to spend it working.

[jcommin]

Originally Posted by HarryD

While the study has it flaws, the underlying message that there is more to life than working is very important.

If going to work is a chore, it is time for a change.

For me, I could have retired earlier. Why did I wait?

Several reasons (not all good):
1) I actually enjoy my job and, until recently, it has been big fun to go to work;
2) I wanted to be eligible for Medicare as private insure is expensive;
3) My son has a disability, and my company insurance is much easier to deal with than the disability folks;
4) My daughter, who just turned 26 has been on my insurance until the end of this month.

If you can do it, do it. enjoy your self and do good things.

Harry, I'm kinda with you here. I also experienced a divorce at the age of 60 - that was a 4yr ordeal. I don't want to tell you what the legal fees were and the settlement but it altered my retirement plan. There is allot of truth to the " cheaper to keep her" saying.

If you have the means and a plan to keep active, I would go for it. All the best to those who do -

[epbrown]

Originally Posted by twobone

Any advice on responding to the stigma and addressing comments that I should "achieve something"? I have watched too many people die and my most precious resource is time. I want to maximize my happy relaxed time.

I recommend a non-committal "I'm open to doing something down the line, but for now I'm going to relax/take it easy."

After I was laid off from my middle-management bank job, I felt the same. I figured I'd just enjoy myself. I moved back home to KY, bought a house and fixed it up, bought a motorcycle, whittled down my to-read pile, kept an eye on the apt bldgs I own.

After three years, I went back to work, just not in banking. Pure and simple, when I dreamed of retiring in my 50s I was thinking of my grandparent's 50s, not mine. I'm much better off physically than they were, and keeping active can be a chore when you've got the entire day to fill up. I'll try again when I'm 70 or so.

[Racerbvd]

My primary physician retired today, went to his Bon Voyage party this afternoon. His plan is to sail his cat to Australia, travel down under for 2 to 3 years, then sell the boat and he and his wife will return home. I thought this was appropriate.

[Captain Ahab Jr]

Originally Posted by MBAtarga

No one on their death bed ever said - I wish I would have worked for another 10 years!

I got off my death bed and went back to work a few weeks later as I realised I quite enjoy working

Don't let anyone make you feel guilty about retiring at your age as they are only wishing they could do the same. You've worked hard, saved well, nothing wrong with enjoying the spoils.

When I retire I'm sure I'll find plenty to keep me busy, don't plan on just stopping work completely but as the years go by I'll probably be a bit more choosy on what I do and who I work for.

Last year I gave myself the summer off, every car I've ever worked on was someone else's top priority so after nearly 30 yrs I made my own project the top priority.

I'll work the full year this year to refill the piggy bank bank but as I enjoyed myself and achieved so much last summer I'm already planning on having next summer off or switching to a 4 day week from Christmas.

Money is a great commodity to have but so is time

[CurtEgerer]

Retired 2-3 years ago at 58. Too busy doing absolutely nothing of consequence (and loving it ) to have time to respond with advice.

[rfuerst911sc]

I retired a little over a year ago at the age of 60 . I have zero regrets other then health insurance . We found decent insurance that covers me and my wife ( also retired ) , dental and vision for $1400.00 a month . We had planned to retire by 60 for almost 20 years with our financial advisor . And we budgeted health care @ $2,000.00 a month so we are ahead . I stay VERY busy with projects but take the time to enjoy family/grand kids / wife the days go by quickly .

Do something to keep you busy , watching TV 16 hours a day doesn't cut it ! There is sooooooo much in life to enjoy . You can pick up a part time job doing something you enjoy for beer money . There are PLENTY of places that you can volunteer at and make a REAL difference to society . As far as I'm concerned it's a great time of life .

[Zeke]

Originally Posted by LEAKYSEALS951

perhaps not an option, but is there a part time position at the bank- say 1-3 days a week? If so- trying that out. You'd get the best of both world, a little bit of job, and more time to test run the "days off" to see how it works out for you.

I don't think he wants to see the inside of a bank after the 2 years is up. However, he does have a LOT of banking knowledge that I bet most bankers don't share easily. If he want to dip a toe, I'd say do a little consulting for banking customers helping them navigate and choose.

As for the stigma, I'll pile on and say to tell anyone who wants to butt in to butt out.

[Jim Richards]

I have one more thought to share on this topic. Years ago at my last company, one employee that I worked closely with, and who was close to retiring, died suddenly over the weekend. A couple of years after that, another colleague retired, left for a cruise, and had a heart attack while on the trip. Luckily, he lived. A few years later, another colleague in the office next to mine was found unresponsive on the floor of his office. Another colleague & I performed CPR on him until the paramedics arrived. No luck that time. Finally, my brother that was only a year older than me felt bad at work, went home early, and proceeded to die.

You never know when you’ll cash your chips, so don’t let others tell you when you should retire. You’ve worked your whole life to get to this point. Enjoy it!

[masraum]

Originally Posted by twobone

Hi,

I have worked hard (30 years at the same bank) and invested religiously including money received from insurance when my 1st wife passed away.

When she passed away 15 years ago, I decided that I would focus my energies on retiring early and maximize my enjoyment of the "2nd half of my life".

Now as I get closer, the majority of folks I talk to seem to frown upon this idea that I would stop working and just enjoy life. I'm often told that I should look for new challenges in a different line of work or stay working into my 60s at my painfully boring job to maximize my pension.

As a middle manager who never really enjoyed working at the bank, I'm not really qualified at anything and I hate my job.
As an introvert, I want to spend my time outdoors with my wife, dog and kids. I want to ride my dirt bike, snowboard in the winter, travel a bit, play my guitar, paint a some landscapes, join some hobby clubs, etc..

Any advice on responding to the stigma and addressing comments that I should "achieve something"? I have watched too many people die and my most precious resource is time. I want to maximize my happy relaxed time.

Wow, that's insane. If you can afford it, then I say go for it, enjoy yourself and your family. Anyone else thinks it's crazy, then they need advice, not you.

my only thought is that if I try to retire early, I'm going to need a lot of money saved, because I'm going to spend it. I wouldn't necessarily live extravagantly, but travel and doing things to fill your free time could get very expensive.

[otto_kretschmer]

I get the same thing. I'm 52 and I at the point of my life where work is optional. A lot of people tell me I'm too young to stop working. Coincidentally these same people are in no position to retire themselves and will be working until they're dead.

[HarryD]

Originally Posted by Jim Richards

I have one more thought to share on this topic. Years ago at my last company, one employee that I worked closely with, and who was close to retiring, died suddenly over the weekend. A couple of years after that, another colleague retired, left for a cruise, and had a heart attack while on the trip. Luckily, he lived. A few years later, another colleague in the office next to mine was found unresponsive on the floor of his office. Another colleague & I performed CPR on him until the paramedics arrived. No luck that time. Finally, my brother that was only a year older than me felt bad at work, went home early, and proceeded to die.

You never know when you’ll cash your chips, so don’t let others tell you when you should retire. You’ve worked your whole life to get to this point. Enjoy it!

^^ This.

The only reason I got my current job 16 years ago is that the fellow before me died at work. If you can, enjoy your life.

My wifely unit and I have some plans but we want to do what we can, while we can.

[Brian 162]

I was in the same boat as you. I spent 30 years at the same company and I hated the last 10 years. The money/benefits were good. I knew I could retire at 55. That day came Friday March 13 2015. I never married and have no children.
I have a defined pension plus I still have benefits until I'm 65. I also put money away in RRSP'S and I have a good financial adviser.
Since retiring I've done a little travelling. My g/f is retiring next year. I started running a couple of years ago. I run 3 days a week to stay healthy.
It sounds like you're financially sound, there's no reason why you should keep working especially since you said you hate your job.
There are a couple of guys where I was working that could have retired a few years ago and they're still there. I just don't get it. My old company employed thousands, I was just a number.
One thing I'd like to add. I was at a visitation for a former manager yesterday who was diagnosed with cancer 6 months after retiring.
Enjoy the second half of your life. There's life after work.
Plus every day is Saturday.

[Superman]

Originally Posted by twobone

Hi,

I have worked hard (30 years at the same bank) and invested religiously including money received from insurance when my 1st wife passed away.

When she passed away 15 years ago, I decided that I would focus my energies on retiring early and maximize my enjoyment of the "2nd half of my life".

Now as I get closer, the majority of folks I talk to seem to frown upon this idea that I would stop working and just enjoy life. I'm often told that I should look for new challenges in a different line of work or stay working into my 60s at my painfully boring job to maximize my pension.

As a middle manager who never really enjoyed working at the bank, I'm not really qualified at anything and I hate my job.

As an introvert, I want to spend my time outdoors with my wife, dog and kids. I want to ride my dirt bike, snowboard in the winter, travel a bit, play my guitar, paint a some landscapes, join some hobby clubs, etc..

Any advice on responding to the stigma and addressing comments that I should "achieve something"? I have watched too many people die and my most precious resource is time. I want to maximize my happy relaxed time.

Ha! I don't see what the problem is. Given your situation, your agenda seems appropriate. Even mandated. Others disagree. I don't see a problem here.

[steve185]

I retired from policing at age 50, after 16 months went back. I missed the stress and doing something that had consequence.

[sugarwood]

Originally Posted by ckcarr

Interestingly,


A friend just sent me this today.


https://www.biznews.com/thought-leaders/2013/09/10/retire-at-55-and-live-to-80-work-till-youre-65-and-die-at-67-startling-new-data-shows-how-work-pounds-older-bodies



Take it for what it's worth...

Meaningless study.
Those who retire at 55 are smart with money
and those who retire at 65 may be dumb with money.
Or just might be smart vs. dumb in general.
Like the 65s might also make other stupid decisions like smoking

[wdfifteen]

Originally Posted by masraum

Wow, that's insane. If you can afford it, then I say go for it, enjoy yourself and your family. Anyone else thinks it's crazy, then they need advice, not you.

Best comment in the whole thread!

[Bill Douglas]

Originally Posted by twobone

that I should "achieve something"? .

Don't listen to those jealous b1tches. I'd say keep doing EXACTLY what you are doing. Sounds fantastic. Maybe drink more is the only advice I can give.

[Heel n Toe]

Originally Posted by twobone

Any advice on responding to the stigma and addressing comments that I should "achieve something"? I have watched too many people die and my most precious resource is time. I want to maximize my happy relaxed time.

The stigma pushers are most likely just jealous they can't afford to do it. "Haters gonna hate"?

If you even want to dignify their admonitions with a response, just tell them you know you're doing the right thing for you... and your family.

Let them think what they want, but if they persist, tell them they're outta line and separate yourself from them.