Retiree Corner....

[Wbino]

I retired when my wife was diagnosed with cancer. She was pronounced cancer free a month ago and is doing great! I wasn't quite ready to go but the chemo really carried a punch and she needed care. Aside from what insurance paid it wiped out our 401s and left us in debt. We both went back to work less than a year after she stopped IV chemo but was still in treatment. We don't miss retirement. Maybe because she was having a rough time during retirement. But we like working and are making more on or second run. We're just happy to have that behind us.

It's a shame that medical bills and the little that insurance covers can hurt people like this financially.
It's great that she has recovered.
I was planning on keeping my part time gig after I retired but then the pandemic hit and I wasn't taking a chance working a part time job with the unknown Covid 19 while I also had my pension coming in.
They asked me to return two years ago, I thought about it for a week but I didn't want to commit even though the work was easy. Besides the job was a half hour away and I would probably have double the miles on the Jeep had I returned.
I sometimes get bored but I can't think of a job i would want even part time... I do see Home Depot filled with old timers working like myself.
Just getting SS this month for the first time so I have even less incentive.

Sponsored

 

[YGBSM392]

It's a shame that medical bills and the little that insurance covers can hurt people like this financially.
It's great that she has recovered.
I was planning on keeping my part time gig after I retired but then the pandemic hit and I wasn't taking a chance working a part time job with the unknown Covid 19 while I also had my pension coming in.
They asked me to return two years ago, I thought about it for a week but I didn't want to commit even though the work was easy. Besides the job was a half hour away and I would probably have double the miles on the Jeep had I returned.
I sometimes get bored but I can't think of a job i would want even part time... I do see Home Depot filled with old timers working like myself.
Just getting SS this month for the first time so I have even less incentive.

I know what you mean. They pulled me back as a contract employee. Better pay, but they can end the contract at any time and there are few benefits. But I love what I'm doing so that's great.

 

[Wbino]

I know what you mean. They pulled me back as a contract employee. Better pay, but they can end the contract at any time and there are few benefits. But I love what I'm doing so that's great.

What stopped me going back was I never wanted to be in a position to have to pick up the phone to call our small office and tell them I wasn't coming in....either for sickness or just not feeling it.
Plus here in NJ we get snow and ice in the winter and who the F wants to deal with trying to go in during a storm or stuck there while the storm is raging and I have to fight my way back.
Who knows I may find something really local that doesn't involve the Parkway or driving over a bridge.
But when I applied for SS I am pretty sure the guy told me i couldn't make more than 20k if I started working again, and then I worry working again might bite my ass tax wise.

 

[rac5419]

Retired in 2017 at 63, earlier than planned due to age and health, making weekly work travel uncomfortable. Plus peer pressure from 2 younger brothers, one from a great corporate job retiring the year before me and the next, a union worker at 62 the year after me. With only wife's and my SS we have to watch spending but had house built in '83 and 2nd home out west paid for so not complaining as we're fortunate to have heathy family with 9 grandkids.

Bought first Wrangler 6 months later, a 2018 Willy but only kept it 3 years trading it in at close to what was paid on a Buick SUV which was more comfortable for the 27 hour round trips each year. Missing Willy, got a 2025 Sahara last month and rejoined the forum. With older age got the Skyliner top so no lifting lids off anymore.

Just my humble opinion, but anyone retiring should take SS ASAP since doing the math for us it would take 15 years to get one extra dollar with the higher payoff from waiting for normal retirement age (was 65 for us). Plus in 7 or 8 years the fund runs out and all benefits comes from the withholding of current workers. Glad I got 4 working kids with spouses.

Options trading takes up alot of my time which I enjoy but would never recommend it since you have to be conservative at our age, but I do well enough with the SS to pay my bills including the new Sahara.

Thanks for starting this thread since I'll read all new posts.

 

[TheBirdie72]

I can only hope SS is still around when I want to retire. I’m 45, so about twenty more working years left, at least. My financial advisors have pretty much all told me, “Don’t count on it, buddy!” So, yeah.

 

[rac5419]

I can only hope SS is still around when I want to retire. I’m 45, so about twenty more working years left, at least. My financial advisors have pretty much all told me, “Don’t count on it, buddy!” So, yeah.

one word for anyone 45 thinking retirement... 'ROTH'

 

[Wbino]

Retired in 2017 at 63, earlier than planned due to age and health, making weekly work travel uncomfortable. Plus peer pressure from 2 younger brothers, one from a great corporate job retiring the year before me and the next, a union worker at 62 the year after me. With only wife's and my SS we have to watch spending but had house built in '83 and 2nd home out west paid for so not complaining as we're fortunate to have heathy family with 9 grandkids.

Bought first Wrangler 6 months later, a 2018 Willy but only kept it 3 years trading it in at close to what was paid on a Buick SUV which was more comfortable for the 27 hour round trips each year. Missing Willy, got a 2025 Sahara last month and rejoined the forum. With older age got the Skyliner top so no lifting lids off anymore.

Just my humble opinion, but anyone retiring should take SS ASAP since doing the math for us it would take 15 years to get one extra dollar with the higher payoff from waiting for normal retirement age (was 65 for us). Plus in 7 or 8 years the fund runs out and all benefits comes from the withholding of current workers. Glad I got 4 working kids with spouses.

Options trading takes up alot of my time which I enjoy but would never recommend it since you have to be conservative at our age, but I do well enough with the SS to pay my bills including the new Sahara.

Thanks for starting this thread since I'll read all new posts.

Where is a good place to put some money besides CD's to earn some better interest?
Something i don't need to watch cause if I have to watch it it will only cause stress....

 

[rac5419]

Where is a good place to put some money besides CD's to earn some better interest?
Something i don't need to watch cause if I have to watch it it will only cause stress....

Safest place with no stress, symbol BILS, managed by Bloomberg, 3 to 12 month treasuries paying monthly dividend currently 4.49% and you can buy or sell daily so no CD expiration date issue. Don't waste your money using a managed account where you're paying a financial advisor. Slightly higher rate, with slightly higher risk, BKLN managed by Invesco, paying monthly dividend around 7%. Corporate bonds. Jeep reference is the monthly dividends help pay my 72 month loan with 71 months left.

Don't look when the dividend is paid since they always drop then recover before the next payment.

 

[jadmt]

I retired when my wife was diagnosed with cancer. She was pronounced cancer free a month ago and is doing great! I wasn't quite ready to go but the chemo really carried a punch and she needed care. Aside from what insurance paid it wiped out our 401s and left us in debt. We both went back to work less than a year after she stopped IV chemo but was still in treatment. We don't miss retirement. Maybe because she was having a rough time during retirement. But we like working and are making more on or second run. We're just happy to have that behind us.

sorta kinda a similar story..I pulled the plug June of 2019 (I started working and paying into the system in 1971 at 12 years old...the person from SS who did my paper work said that it is pretty rare that he has seen a 12 year old pay in, but apparently my employer did things by the books) in December of 2019 my wife was diagnosed with stage 4 cancer...toughest lady ever...pretty sure if I had not been retired I would have had to retire..We traveled to Mayo in Rochester for surgery between chemo treatments. She never once complained..so far we are blessed and she is still fighting the good fight, God is good in our lifes. I tried to get her to retire as soon as she was diagnosed but she said her job helped keep her mind off the cancer...She did 32 years in the hospital setting and 9 more in the school systems....She is a speech pathologist and this June she decided it was time to turn in her certificate and retire.

Not sure how an ugly drunk like me got so lucky, but my 8th grade education got me drawing from 3 different retirement systems(2 of them increase by 3% a year guaranteed and one that I have been collecting on since I was 50 stays the same but pays the light bill) and collecting SS and thanks to WEP got a decent increase....and I think my wife must have felt sorry for me all those years ago and God blessed me with the good judgement to accept her marriage proposal.....my mind is still somewhat fuzzy about that part but it makes a good story.....God is great and retirement is not too shabby either....

 

[YGBSM392]

sorta kinda a similar story..I pulled the plug June of 2019 (I started working and paying into the system in 1971 at 12 years old...the person from SS who did my paper work said that it is pretty rare that he has seen a 12 year old pay in, but apparently my employer did things by the books) in December of 2019 my wife was diagnosed with stage 4 cancer...toughest lady ever...pretty sure if I had not been retired I would have had to retire..We traveled to Mayo in Rochester for surgery between chemo treatments. She never once complained..so far we are blessed and she is still fighting the good fight, God is good in our lifes. I tried to get her to retire as soon as she was diagnosed but she said her job helped keep her mind off the cancer...She did 32 years in the hospital setting and 9 more in the school systems....She is a speech pathologist and this June she decided it was time to turn in her certificate and retire.

Not sure how an ugly drunk like me got so lucky, but my 8th grade education got me drawing from 3 different retirement systems(2 of them increase by 3% a year guaranteed and one that I have been collecting on since I was 50 stays the same but pays the light bill) and collecting SS and thanks to WEP got a decent increase....and I think my wife must have felt sorry for me all those years ago and God blessed me with the good judgement to accept her marriage proposal.....my mind is still somewhat fuzzy about that part but it makes a good story.....God is great and retirement is not too shabby either....

I'm so happy that you've both passed the five year mark! I say both because I know, even though we don't admit it, it's been rough on you also. My wife, like yours, is tough as nails! She fought every day. I knew after we spoke with the oncologist and she laid out the treatment plan that I would have to retire. I count myself as blessed that I was in a position to do so.

Same here for us. I have no idea who I got so lucky. I always joke that the girls in our small town had to draw straws to pick husbands and she drew the short one.

Y'all keep that happiness going. We're doing the same.

 

[ScotM]

Where is a good place to put some money besides CD's to earn some better interest?
Something i don't need to watch cause if I have to watch it it will only cause stress....

Get a good financial advisor. Municipal bonds are a good way to get tax free income, but a good advisor can help you out with safe corporate bonds and dividend paying stocks

 

[Wbino]

Went to a retiree BBQ yesterday, seeing guys who you worked with for 30 years is pretty amazing.
You see these guys more than family when you work, they know everything about you including where you live what cars you drive/driven.
A lot of them are now snowbirds living in Florida half the year.
I'm 62 and there is STILL the senior man table with guys who worked twenty years before you and they are 75 old plus...lol.
Name tags could of come in handy because there were 2000 of us in our division and you can't know everyone.

 

[Murphy Slaw]

I’m more busy now than when I worked.

 

[sherpaJL]

I’m more busy now than when I worked.

same here.
I'm an extreme, active DIYer with an extensive tool collection. (woodworking, carpentry, plumbing, mechanics, engine rebuilding, landscaping, etc)
Never a need to hire anyone. If I need a specialty tool, I buy it.
My problem is forcing myself some downtime, which I'm getting better at doing lately.

One of this summer's projects; caulk, repair/replace window trim, and paint the North side of the house. I also build my own scaffolding

who has time for wheelin', I got shit to do!!

 

[3TV]

I retired this year at age 65, after 45 years that included education and a career as an internal medicine physician and hospitalist. It was an interesting and rewarding career, but I certainly don't miss all of the middle of the night phone calls, and having to go in to the ICU, then working the next day in clinic.

So far I have been dividing my time between Jeeping, UTVing, RVing, and doing work on my property. My driveways are ~200 yards of asphalt. After paying a company to repair and resurface the asphalt, and seeing what a half-assed job they did, I spent a few weeks doing a better job of filling and repairing all of the cracks myself. I also just completed a mission to get rid of ants on my property. I treated 27 different ant hills with poison, and after as many as 4 treatments on some of the ant hills, the ants are finally gone.

My wife of 38 years just retired 11 days ago, and we plan on doing some travelling. The northern lights on Alaska's north shore, and then New Zealand are on the short list.

Sponsored