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One thing that never fails to amaze me on this forum is wondering if they should retire. You don't have to work, you can do what you want.
That's particularly a question for prospective early retirees. Estimating from the posted numbers, Tuborg probably retired at around age 60... so, slightly early, but not particularly so. Now image if he'd retired at only 55, or if we want a more extreme situation, at 50. Then, one supposes, there would be much more second-guessing, quandary and introspection.
Good to see you Tuborg!
Loved that beer! I have been hanging around here since CD started and you could call the administrator. Times change.
It is the basics - plan for the worst and enjoy the best. We are at the tail end of some worst scenario. Planning made a difference.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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after a certain point there is no make-up. Make your choices wisely and yes you can also find yourself in your mid 70's with years ahead of you so be ready!
Seeking wisdom while enjoying the journey. We each have a lot to learn. I treasure the examples and stamina of those who have trod the path ahead.
Currently, that's coming from observing my 98 yo FIL, who knows he's on his final lap, yet is staying right (and true) on course. From my 'younger / immature' 70 ish perspective.... I am not worthy of the path he is choosing.
Been in this forum for probably 17-18 years first as a lurker and then as a frequent poster.
Most of my thoughts were on financial retirement and eventually outcomes with much debate as many of u know. Not been very active lately in fact hardly at all last year or so and Entering year what 16 of retirement and in our mid 70's. Our health is good, and our finances are really good and we focus on giving to those in need especially food.
At this point we have known many who have passed on many who are still thriving. We know those who are on the edge financially, those who are good and those travelling the world literally.
I can only tell you knowing the lives and decisions many have made that choices made have consequences and after a certain point there is no make-up. Make your choices wisely and yes you can also find yourself in your mid 70's with years ahead of you so be ready!
Any fellow retirees in their 70's or 80's with thoughts to share join in. As is normal anyone else who wants is welcome to share their thoughts.
My wife and I are lucky. Things just worked out for us. I cannot say we had to undertake any real comprehensive retirement planning. I simply worked and invested money when I had the opportunity. We purchased two homes and sold one (that was paid off) when our retirement time came. We managed to set aside quite a bit of money in mutual funds and 401K accounts. Finally, with my income I maxed out my social security contributions. My wife obtained a healthy pension at her place of employment plus her social security benefits are pretty good as well.
The keys to a successful retirement?
1. Good health that enables both of you to work.
2. An education that allows you to enter the labor force at a good salary/income and than rise from there.
3. Always put money aside for investing.
4. Don't be afraid to work, but work smart. Improve job skills and gain in experience.
5. Get a job you enjoy or can at least tolerate so every day is not misery for you.
6. Don't leave the work force too soon. Let your savings and benefits grow.
7. Teach your kids the same things.
Tuborg, you have influenced me over the years I've been here. Thank you.
We retired early 20 years ago and wow this last 4 years has really blown my mind. International pandemic and everything that came out of that. That never entered any part of our retirement planning.
A very healthy same-age friend died from heart attack in her sleep this past year, we met at school age 14.
What I recently found out is that "sudden death" is the #1 cause of death, something I never knew.
Carpe diem--Seize the day--that's my new mental attitude because who knows if there will be another day.
TuborgP, as DeepImpact, requested share your lessons, your journey.
Those I feel who have also planned their lives, outside of a career, volunteer, travel, something to enjoy each day, is important, yes ?
Financial, seems I just heard, one saves, saves, now how to enjoy the fruits of your labor ?
From one Thread, kin/family one doesn't have to inherit, foundations you believe in, scholarships.
Mathjak, mentioned the Pandemic. For me, unexpected health concern, sorta had me stop.short. Mentioning Mathjak, article in AARP, Ringo Starr, age... 83 ! Remember the Beatles invasion, senior in high school. 60th? ! High school reunion ? ! Still clucking....
so far !
TuborgP, thank you for your Thread.
Another reflection, the value of friends, to keep in touch, on a regular basis. Snail mail cards, thinking of you, mean so much ! Oh ! Postage, 21 January ? Stamps will.be 68 cents !
OP, curious what lessons you can share on your journey so far.
So much of what we do in life will impact the quality of our retirement. Even where you choose to live, what you eat, what you drink. Who you hang out with etc.
The wife and I went to college together and chose to settle down in a place we had never lived near that was about to grow and become affluent and provide us with the opportunity to create a great retirement financially. We had to take advantage of opportunities, stay married and avoid the life sucking lifestyle of smoking and drinking etc.
We relocated upon retirement and that was a financial plus. Stopped smoking cold turkey in my mid 20's when my wife was pregnant. So many have died because they didn't. Hardly drank much and so many have died because they did. Sure I ate to much and carry some pounds because of but other than sore joints my health is good.
We eat real good now with meals planned to help minimize the risk of cancer etc.Financially we have more money now than when we retired and that is a result of opportunities taken
Financially I would remind people of opportunity/tradeoff costs that our decision to do one thing may limit our opportunity for something else.
People you live, play and work with will have a role in who you are at 75-80 more than you realize.
We each have to decide about the role of faith in our lives and I can only say make that decision as if your life depends on it.
Whether it ultimately is a valid decision is one thing but it may well be what drives your later in life thought cycle.
Who you date in life will determine who you marry and that will drive so much of your retirement life style.
Just think if you never asked your spouse our or agreed to go out with them!
we are entering our 9th year although i still have ties to my old company i was with and help them train once or 2x a week if we have no plans .
i enjoy it and it is stress free and pays well .
so far life has been good for us ..health wise i am doing fine , i still run 3-1/2 miles every other day and my wife and i are still gym rats .
i still enjoy taking an interest in financial planning although our plan is pretty well set .
so along with me getting back in to drumming again my wife and i spend each day we can out with our photography hobby .
having a good financial plan to take you thru retirement s important because we never know how much is enough until the game is over as life is filled with unexpected and emergency spending .
so seizing the good times even if in conservative investments is important so the cushion gets bigger so for us compounding never ends .
there is never a point i would sit back throw it all n cash instruments and roll the dice on inflation and expenses being status quo or even our wants staying the same
Life seems very short, even when it lasts well into the 90s. Unless someone is a rare genius, it seems at least four generations of a steadily diligent and successful family are needed to accomplish anything really worthwhile. For those who don't want to bother with such a long range, nothing probably matters much except doing some sort of reasonably useful work for an adequate number of years, and being content to live within one's means (since all the expensive things also exist in a cheap but perfectly adequate variant, and the most important things in life can't be bought with any money anyway - they either happen to you or don't).
actually some very important things can be bought .
in my wife’s former husbands case he got multiple myeloma…. 20 years ago it was a death sentence .
my wife heard sam walton who had the same cancer was sponsoring an experimental program in arkansas which used all kinds of experimental treatments not covered by insurance .
after meeting with my wife and husband he accepted him .
sam spent over a million dollars on him and gave him more then another year to live beyond what any doctors expected and be with family .
today these treatments are routine thanks to sam .
PRICELESS
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