Retiring in one year. Will be 66. Always looked forward to this time. I see it as just a change in career. We both have full time “real” jobs presently, we also operate a B&B and a small antique shop now for 15 yrs. I still plan to get get more serious with the B&B and work part time to help alleviate health care costs. You will still find me in the garage farting around with cars and taking care of this 150 yr old house. Can’t see myself ever really slowing down.
My biggest problem with retirement is: How in the hell do you keep track of time when everyday is Saturday??
I retired at 59 1/2, two years later than planned. It’s coming up on 9 years now, but it feels like yesterday that I pulled the plug. I was fortunate enough to have a generous pension and health insurance. Don’t underestimate the insurance part. Like said before, the biggest hurdle to overcome in retirement is that there are no days off. I’m finally at the point of starting some of the car projects I planned for 9 years ago. Two project houses and a new shop have had priority, and the days aren’t long enough. My dad died at 77 after 13 years of retirement. All he seemed to accomplish in retirement was doing the daily crossword puzzle and go to Florida for the winter.
I am 67 and still work 60 plus hours a week. I would love to retire but I have 65 employees and don't see a way to do it anytime soon.
Lucky enough to retire at 55 in 2001. Got to spend a little quality time with my dad before he passed at 94. Have had time to build a few cars and moved south to Florida 4 years ago and seem to be busier than i was when working
Really pleased you guys are all staying active with your cars and other hobbies in your retirement! Good for you! I'm 57 and shooting for 62, (maybe 63). Waiting until 65 for full pension and SS doesn't make sense. I'd be in my late 70's to reach the "break even point". I also have a 401k. Even though my pension includes healthcare, I'm most concerned about healthcare costs. Sure wish those yo-yo's in Washington would get shit sorted out. Financially, I'm presently paying down bills. Property wise, I'm getting "heavy" projects done around the house. My chainsaw has been active the last year, dropping some huge nuisance trees on the property. Also hardscaping and planting drought resistant plants (no more lawns!) to minimize maintenance and the water bill. I plan on reroofing the house this spring too. That'll be good for 20 years. I do all my own work and have to get this stuff done before I'm too old to climb trees and ladders, etc. I call these "never again" projects, because once I finish them, I'll never have to deal with them again. The kids can take the lead next time. At 57, I realize I can't do everything I could at 47, and even though I'm in great shape/health, at 67 I'll be saying the same thing about what I could do at 57. I imagine that grade gets steeper each year as time goes forward. Have a well equipped shop with rolling A frame for the shop and 3 ton fall for lifting help (work smarter not harder). Would like to eventually get a 2 or 4 post lift to get me off my knees and the floor jack. Have multiple car projects qued up and enough parts stashed for a few more. Hope I'm on track to doing this right. I'll take any advice you guys have to offer on preparing for retirement 5years out.
My second father in law (I am on number three now) said that once you retire you don't get any days off Before I retired I took a "retirement seminar" and one of the items they stressed was that you have to prepare for retirement just like you do for a career. I'd say that most, if not all, of the people on this web site have waited for years to play with old cars (and that's me also), I am lucky to have the biggest shop with the most equipment that I have ever had with a wife that is still working a paid job and at night is out in the shop with me doing her hobby/avocation of metal sculpture. She jabs me once it a while that her stuff sells and I very seldom sell I can't believe how lucky I am (in spite of new aches and pains) but at 73 I should have expected that.
I prepared for retirement in a similar manner. I got the main bath and kitchen remodeled, gutters replaced, driveway paved, and slowly bought up a lot of tools for metal and wood working. Did this while I had a good income stream.
Retired 4 years ago at the age of 56 with 33 years of state of Alaska service . worked in the construction side with 125 tradesman. I had 25 tradesman that I managed. Like being a baby sitter / counselor to most. Had gotten married late in life @ 35 and divorced 10 years later. Cost me a bundle on my retirement but kept positive. Owned a side business for 40 years and now like most , busier than ever but glad to have my health and a new awsome wife of 10 fantastic years. In the process of moving from Alaska to Reno Nevada. bought a semi truck and 53' van and moving all my shop equipment and toys . estimated 5 trips to complete the move. Once I get down to my other home, I plan on building a couple of custom homes to sell and build on my cars. Like most , better have a hobby that you enjoy after retirement , otherwise you will dry up and become plant fertilizer. As several of my friends who are in their mid 80's say , a guy just needs to keep moving. Vic
I retired in 2009. I have not had a day since when I wished I was still working. My wife might have a different opinion. Here's my advice to my friends that are entering this new stage of life. 1) Top priority is your health. Get a regular exercise program, keep a reasonable weight. No excuses. You have the time and no one is forcing you to over eat. If your health is good, everything else is easy. 2) Give back. Be a volunteer, join other people and help others who are not as fortunate as we are. Someone needs your help. It will make you feel great! 3) Learn something new every day. 4) Avoid negative and cynical people so you don't get sucked into their universe. 5) Spend less than your income. Separate wants from needs. 6) Don't kiss aluminum storm doors when it's below freezing. 7) Fill in the rest of your time with things you love to do. Moselli
I retired in 2002 at the age of 55, thanks to a generous buy-out and being "frugal' & invested in the market for the majority of my career. I was kind of worried that I wouldn't have enough to do, so I made a list of everything I wanted to get done. I remember looking at that list and thinking I'd get everything done in a few months. It's been 16-years since I wrote that list and I haven't got half of the stuff on it done yet! I seem to go out to my shop for a specific job and wind up working on everything EXCEPT what I went out for. I have to say I've enjoyed every second of retirement, especially the last 6-years building my '36 3w. I should have retired at 21 !!
This is the best post on this thread. This is wisdom and common sense and I particularly appreciate #2, #5, and #7. Moselli, thank you for this.
65 here, and self employed for over 40 years. Not enough in the IRA and the SEP account, but would love to walk away with a chance at the next chapter. My g/f just went back to school... her reason? She sez cause I wouldn't retire and just hang out and travel with her. You guys are very inspiring. Good luck to all of us.
Agree with Thorl, Moselli's post hits the mark-especially #5. Live below your means, save wisely! Retire with no liabilities-my wife was a Senior Banking Officer for many years and is very astute regarding finance which has helped us get where we are today.
Going to be retiring in the next couple years, but need to finish my "retirement planning". Not the financial part, but building a shop instead of working out of a garage. Going back to drag racing and will be building the cars I somehow didn't have the time or money to build the past 40 years. The retirement house is located between Vegas and strips in Phoenix and Tuscon. Looking forward to my "second career".
I have been retired 5 years now and love it! I have everything I need or want to do every day. Never miss an activity because of work any more. The longer I am retired, the more I appreciate those immortal words by Maynard G. Krebs "WORK?" Just you and me, right Maynard?
Have been retired for 16 years and it has been all good! Work outside (11 acres) for my exercise and work in the garage (heated, bathroom, cable, fridge & beer) for my sanity. Love it all!
It was not my plan,but I retired at 56. I was fortunate enough to have everything paid off,house,four cars,no credit debt! Living off my 401 which has replenished half of what I took out so far! Get to play with my rides,and totally stress free now! Like I read earlier in this thread,,,,six Saturdays and a Sunday!! I like that!
As of yesterday it's been a year since I was among the ranks of the gainfully employed. I have enough stuff to work on that I could spend the rest of my life working on it without ever leaving the farm. I don't think I'll get bored.
Some folks have pensions others have 401's. Me all of my retirement is in old rusty metal stuff. And I do sell a bit to get some extra money. last month I make a $100 selling a Y block intake and $200 selling a car body to a demolition derby guy. The thing that got my goat was when I started drawing Social Security folks came by and wanted me to do work for them I my (spare time) at a reduced price. My response was how is spare time worth less than any other type of time? For me there aint no such thing as spare time. When you work for others you are selling them part of your life. The days of me selling any part of my life are in the past.
Retired 11 weeks ago....every day is busy.Worked every day since I was 16 and left at 62....I've tried telling the younger guys at work to start paying into a pension scheme sooner rather than later because the years really do fly by. Just took delivery of my retirement plan...a 1936 Ford Rumble Seat Cabriolet...loving it !
Did not wait until retirement to play with cars. Been doing that since I was 14. The only difference with retirement is instead of 1 or 2 cars, somehow now I ended up with 5. The aches and pains are there sometimes for me too. Get the old bones moving in the morning and I am usually good the rest of the day.
I've decided to retire 6 months from yesterday!! I'll be 69 the day after I retire. 49 years in aviation from a young mechanic to senior inspector. It's been fun. We are selling the big house on the hill, hopefully for a lot more than we paid. My wife and I have purchased a nice wooded lot in New Meadows, Idaho in a place called Meadowcreek. It's a subdivision around the golf course with all the fun things to do. My wife finally gets to build her house, with my shop. I plan to be the old guy in the 32' coupe. I have many plans and things lined up, including trying to make the 150 mph club at Bonneville, with my 32', for my 70th birthday. And I agree with the gentleman above, health is the key, so far so good.
Retired from 38 years of hi way maintenance. Sold the big house and bought a small one at the beach. Got a little part time job. Best time of my life. Snowman
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