Time to Retire

[dazco]

I doubt i ever will, but if i can even pull it off the best i would be able to do is retire with just enough $ to exist. Not sure whether i'd want that because with no $ to do anything i'd be sitting at home staring at the walls till i die. If you're going to retire you must have enough money to be able to do some things. the other factor is you've got to remain active of your health may take a dive. Pretty hard to do unless you can afford to find things to do.

 

[DaveM]

Well when I do I would just like to retain my lifestyle, not looking at doing expensive things that I would not normally be able to do now while working

 

[GatorNation1]

Retirement in the U.S. is most often done "cold turkey". That is, there is not generally a slow down or cutting back at work, it is get your gold watch, retirement party, a kick in the gluteus, or whatever, and leave. If you have developed hobbies and other interests, then you are likely to have a much smoother transition. Old goat here at 60++ and able to ride my motorcycle, strong and agile enough to continue one activity I really love. One great thing is to be able to get on the bike, without a firm destination, and just enjoy the trip, while figuratively smelling the roses along the way, and the time and a little jingle to do it. Just remember than life is a journey, and not a destination, as the saying goes. Take time to tell significant others you love and appreciate them, take time for yourself to do some of the things you like to do and try to have kind things to say to people and a positive outlook, which will serve you all the better. It is great seeing new places, meeting new people who share common interests. Look after your health so you can continue to do much of the things you like to do. I have personally decided that if motorcycles are not available in heaven, then I'm NOT going.

 

[DaveM]

Very good outlook you have and I hope to be able to be like this when they kick me out one day

 

[CarlS]

Retirement in the U.S. is most often done "cold turkey". That is, there is not generally a slow down or cutting back at work, it is get your gold watch, retirement party, a kick in the gluteus, or whatever, and leave. If you have developed hobbies and other interests, then you are likely to have a much smoother transition. Old goat here at 60++ and able to ride my motorcycle, strong and agile enough to continue one activity I really love. One great thing is to be able to get on the bike, without a firm destination, and just enjoy the trip, while figuratively smelling the roses along the way, and the time and a little jingle to do it. Just remember than life is a journey, and not a destination, as the saying goes. Take time to tell significant others you love and appreciate them, take time for yourself to do some of the things you like to do and try to have kind things to say to people and a positive outlook, which will serve you all the better. It is great seeing new places, meeting new people who share common interests. Look after your health so you can continue to do much of the things you like to do. I have personally decided that if motorcycles are not available in heaven, then I'm NOT going.

Hear! Hear!

 

[DaveB]

This is a fantastic thread! So many words of wisdom (and a bit of amusement too ). Rocky, your post #2 is one of the most uplifting statements I've read in a long while- thanks for that.

A couple of years ago our company pension administrators sat us down individually and, together with our MD & Fin Manager, reviewed our individual pension circumstances. At least someone was showing an interest and offering guidance- that doesn't occur too often so it was highly appreciated. The pension people reckon that one should aim at retiring debt free on a minimum of 75% of your final gross salary. I offered the opinion that I was aiming at 100% minimum. I'm now 56, single with no dependants and have 5 policies (1x govt. pension, 2x company pensions, 2x private annuities). If that won't be enough then I'm sunk :y11:. Within the last month I read an American financial guru who reckons that we should aim to retire on no less than 130% of your final gross annual salary! I think he may well be thinking in the right direction.

More & more of conversations with friends seem to concern retirement these days. We have a lot of fun discussing the subject. The common consensus is that we, aging bikers who have known each other well for over 25 years, buy a smallholding near a rural town somewhere in the Cape somewhere near a twisty mountain pass, live in separate houses on it in a sort of commune where we can look after each other's properties when folks go on trips, grow a few things, have lots of dogs cos we're all dog lovers, have a riding paddock & stables cos the ladies like horses, free range chickens cos we all like free range eggs, a fair number of fruit trees, a trout dam for me & one big common well-equipped workshop, and lots & lots of motorbikes!

I cannot find fault with our logic!

DaveB.

 

[DaveM]

Dave in SA I think the common factor for us working class is will we have enough financial backing when we retire, for me this is a huge concern and I just hope that I do ok when I do have to go off. I have been paying into my pension fund for around 38 years now and hope that it will do the trick but I am still worried about it. It is only now in the later years that I see any real growth in it so now the thing is to hang in here as long as I possible can

 

[DaveB]

Or, you have to get your kids to support you :y24:!

 

[DaveM]

Looks like that is the normal way in SA now

 

[otherwise]

The common consensus is that we, aging bikers who have known each other well for over 25 years, buy a smallholding near a rural town somewhere in the Cape somewhere near a twisty mountain pass, live in separate houses on it in a sort of commune where we can look after each other's properties when folks go on trips, grow a few things, have lots of dogs cos we're all dog lovers, have a riding paddock & stables cos the ladies like horses, free range chickens cos we all like free range eggs, a fair number of fruit trees, a trout dam for me & one big common well-equipped workshop, and lots & lots of motorbikes!

Some years ago my wife and I were invited to buy into exactly that kind of situation. I knew it would end in tears because good friendships can be destroyed by being too close day after day after day. We declined and another partner took our place. Guess what ... it all fell apart within a year. (You used the chain saw last and didn't resharpen the chain or replace the fuel. Well the majority of us say the road does require topdressing and rolling so you have to chip in regardless. Too bad that you are a vegetarian, we shoot and cook the roos that come close to the house. Etc, etc)

 

[Gromit]

More & more of conversations with friends seem to concern retirement these days. We have a lot of fun discussing the subject. The common consensus is that we, aging bikers who have known each other well for over 25 years, buy a smallholding near a rural town somewhere in the Cape somewhere near a twisty mountain pass, live in separate houses on it in a sort of commune where we can look after each other's properties when folks go on trips, grow a few things, have lots of dogs cos we're all dog lovers, have a riding paddock & stables cos the ladies like horses, free range chickens cos we all like free range eggs, a fair number of fruit trees, a trout dam for me & one big common well-equipped workshop, and lots & lots of motorbikes!

I cannot find fault with our logic!

DaveB.

Only if I'm in charge of the WD40, duct-tape, cable ties and the big hammer thing!

 

[DaveB]

To which I reply:

I only have one vegetarian friend who is in England and will not be invited and I have my own secret private stash of WD40, duct-tape, cable ties plus big & small hammer things .

Oh, and nobody will be allowed near my trout dam- no-one's allowed even to breath on it!

Reasonable enough ?

 

[Gromit]

Um, you may find yourself living alone I have sole propriety over the WD40 and accessories Just ask DaveM.

Now you've hurt my feelings :y8:

 

[DaveM]

 

[DaveM]

Mommy, its dark out, only 4 am, and Gromit scares me

 

[Gary]

I would like to retire at age 55 also, but I don't know how to go backwards in time.

 

[CarlS]

I would like to retire at age 55 also, but I don't know how to go backwards in time.

When you find the secret to doing that, please let me know.

 

[dazco]

Well when I do I would just like to retain my lifestyle, not looking at doing expensive things that I would not normally be able to do now while working

Same here. I'm not at all talking about extravagant things, just living and remaining active. I don't have any need to do anything extravagant, but i DO need to be able to afford to do more than i do now. Heres why. Today i work 40 hours a week, and that keeps me active. W/o a job my health would go down the tunes faster than you can blink unless i am able to remain as active. i already walk 3-4 miles a day along with work and it just keeps me from going down the tubes, which tends to be the way my body works. So unless i could afford to keep active, retiring would literally kill me in no time. And i'm just talking things are not in the least extravagant, just riding, shooting/fishing, etc etc. But simple things like that cost quite a bit. I will be eating dog food as is, so i certainly won't be able to ride or anything that costs money. I can still walk, but i can't walk 9 hours a day, nor would that be any kind of life. Point is, i won't be able to afford anything but food and shelter if that. So retiring and remaining active will be impossible, as will having reason to wake up in the morning. So i intend to try and work till i die unless somehow i'm given a raise to beat all raises, and at my job i'm lucky to get cost of living.

 

[DaveM]

Dale I know what you are saying here and it is a huge worry

 

[keystiger]

I am in about the same boat Daz. Economy and divorce (and the subsequent financial ruin) have knocked me back to where I was 20 years ago occupationally and financially, from where I was just 5 years ago which was "comfortable" and rather unconcerned of when the next check was coming. I work 50 hours a week and that JUST covers food shelter and clothing. I am blessed in the fact I have a good 20 or 30 years left in me and HOPE I can rebuild what I once had by that time, but frankly the prospects at this point don't look great. However I try to stay positive, I got "there" once before and plan to do it again, this time at least a little wiser than before. THose life lessons can cost a bunch. But my overall (previous) retirement options are gone at this point and I to plan to work till I drop, or until the body forces me not to. Its the family way, My Grandfather worked till he was 92, died at 93. Father worked till the cancer stopped him from doing so, and even then did consulting via phone and email till just weeks before his passing. A body in motion stays in motion, thats all I know.