Anyone else eager to retire?

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Shakuhachi

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I am 63 and want to hang in there a few more years but the corporate shifting and restructuring make me feel like a leaf in a whirlwind. Today my blood pressure was unusually high. When I take time off there is so much else I do.
 
I have 10 years on you. I have zero interest in retiring. What, and leave that madness? I love, love, love my job.
 
That is great. I used to love it. Makes all the difference in the world.
 
They’ve obviously hypnotized you into believing this! I shall pray for your recovery 😛
 
Yes, I dream about retirement; I am not there yet, not for awhile. But it might get boring. I agree you would have time to do things you enjoy but you would lose that daily interaction with the world, which I think gives people a sense of being engaged in society. I think I might just work somehow maybe two days a week even after retirement, either paid or voluntary, some basic job, or English as a second language tutor, something like that. I think work might also keep you mentally active as well as emotionally engaged, responsive. That said there is plenty that is monotonous, stressful, downright stupid about most jobs and time spent on higher, rewarding pursuits such as hiking, gardening, travel, reading, classes, socializing, prayer, etc is not to be discounted. But still in time you might surprised at what nothing to do in the sense of having no obligations does to you - making up your schedule every day. I know a few retirees and I see kind of a struggle in them with this (or that is how I perceive it). It is a mix, good and bad, needs to be approached with a plan I think. So hopefully now you feel at least a little more thankful for your job… 🙂 This too shall pass, my friend, no worries there.
 
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I had to retire unexpectedly 2 years ago. Wish that I could find a job that I could do at least part time. It is difficult when all your friends are at work and you have no one to converse with during the day. I like that I have more time for prayer.
 
I planned to work until I was 70. However, the company where I worked was hit hard during the recession that began in 2008 and forced to eliminate certain departments/employees. I was laid off.

As I frantically looked for another job, it was shocking that there wasn’t anything! When I did find a rare job opening, I was told I was “too experienced” and “overqualified.” Savings and my retirement funds had to be used, are now gone and I had to retire early.

That was 10 years ago. Now I can’t work, not even part-time, because I’m the sole caregiver for my ailing 90 year old mother and have developed chronic health problems of my own. Being poor is also very stressful!

What can I say? Retirement stinks!
 
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My hope is that society changes its views on retirees as the baby boomers continue to move into their retirement years. I was at the grocery store the other day and the clerk who helped me was like 75 if he was a day. He did a fine job, didn’t miss a beat. I also think seniors should be able to volunteer at food banks, foster care for pet shelters, Church work, schools, private charity organizations. Often volunteer work can become paid work. I read an article recently that said that 50% of American workers literally do not have retirement savings - nada. Right now, as we speak. It is going to get interesting in the next several decades.
 
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My goal was to become debt free. The only debt I have is utilities and insurance. My motto is “live Poor, Die rich.” It is a great blessing to not 'owe my soul to the company store." There is great wealth in ‘volunteer poverty.’
 
Parts of your story are similar to mine. My eligibility for early retirement coincided with the Great Recession, which also occurred right when my mom needed more care to be able to remain living in her home. When I first started working in construction, older workers were often given less physically demanding jobs, or they were teamed up with younger apprentices so that the older worker’s experience and the younger worker’s strength and stamina were beneficial for both. All of that went out the window with the recession. We were asked to do more with less, and it was all getting to be too much for me. I was glad to leave. Now, I’m able to devote much more time to helping my mom, and I’m grateful for that. My health is still good for time being, thankfully.
Shakuhachi said:
And I bet you still have plenty to do.
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Yes, my days are full now, without my feeling overwhelmed all the time.
 
Doing more with less, same in healthcare and perhaps everywhere.
 
Right. Here’s my advice:

Lower your monthly expenses to the basics. Calculate your expenses (now) that you will need for, say, 20-40 years (from 65) - food, housing, taxes, medical, emergency cushion (new roof, car issues, flooding, acts of God, etc), clothing, travel, hobbies, gardening, ‘fun money’ - you don’t want to go mad before that’s necessary/inevitable - keep those juices flowing, good for the brain.

They now say $1 million when retiring at 65 may not be enough. This is where high vs. low income really comes in to bite. Those with higher incomes have more savings, but even with that calculated in, many don’t have enough, including those close to retiring. Still I don’t believe retirement for the poor has to be like something out of Emile Zola, if you plan wisely and are willing to continue to work part time where you can.

I think as a society we need to get creative about this since we don’t have the kind of pension system they have in Europe. We should eliminate all taxes on withdrawals from 401ks after 65 - this should apply on a progressive scale, say up to $300k annual income for a couple, above that tax bracket pay taxes ($150k singles). Small and large businesses should get a tax break or subsidy to hire part time senior workers - who can be paid at under minimum wage, say $7.50, no lower, but no or minimal benefits. Job sharing for two seniors where workload is too demanding or intense. Let qualified seniors work from home electronically a few days a week - bookkeeping, medical, legal, small and large businesses of all kinds. Train and hire teachers in public schools - up to age 80 or as long as people can competently go.

Perhaps I should run for office. We need to start developing, circulating these kinds of ideas. My point being we have to have a realistic, healthy safety net for people 65-95, right. It benefits us all. After all, we are all going to get old.
 
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Thanks for the good advice, but I no longer have debts other Than owing Discover Card about $6 bucks. I do have utilities, house, and insurance to pay, but blessed beyond measure not to have the weight of debt to carry. My van is getting ‘older’ but looks good and runs well and has been taken care of. I call my abode a 'tumbledown shack, but the roof doesn’t leak and I have running water and indoor plumbing. That makes me better off than more than half the world. My bed is warm when the cold winds blow, a working a/c when the sun beats down and food on the table. I am not in need. I am not hostage to the system and am content with what the Lord has given me. The greatest gift a retiree can have is to be free of anxiety or monetary stress. Yes. I worked hard to get here, but it was worth it. I have money in the bank and can spend according to need and even some frivolous desires.
 
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