Working Stiff - Countdown to Retirement

I doubt I'll ever be able to afford retirement. I sometimes joke I will have to work at my own funeral in order to pay for the services.

Just enjoy the moment Edgar, it's all that really counts.

Purpose of thread amended: A place men AND women can chat about things.

Well, Edgar, as you well know, I'm nearing my retirement now in a matter of days, and will be going at 55.

It's not really retirement, but semi-retirement, as I, too, will be seeking a part time job as a hedge to inflation and possibly hidden expenses.

I've been looking forward to it for a long time.....and suddenly it's here. It's been on my mind frequently in the past few weeks. Lots of planning, etc.

Off to work now, but will be back tonight to chat some more....

Thanks edgar, I was feeling a little left out!

I'm glad to hear that the end of working full-time is in sight for you. I expect to work til I drop dead. I'll never be able to afford retirement.

Partial retirement sounds great, Reyn. Now, in our system, if you take social security before full retirement age, 66 in my case, benefits are reduced by $1.00 for every two dollars of income over a certain amount. That certain amount goes up to something like $12,500.00 in 2006.

I ain't even started counting, yet.

Edgar
Edgar, I've worked most of my life since age 16, with some timeouts for having children. I've been on my own since 1974 when I left my husband and started over with only my clothes and my paintings. I've done that twice, leaving homes and contents to make it easier on my spouses. I've been retired since 2002, when I finally quit working at age 72. My social security is larger than it would have been if I retired at age 65.

Fortunately, I had a very good job that I was able to do despite my physical disabilities. I had a good health drug plan, good pension plan with employer contributions in addition to my own savings contributions. I was very disciplined about saving for retirement so I wouldn't become a burden to my children.

I moved from the San Francisco Bay Area because, not being rich, it was too expensive for a comfortable retirement. Living in Albuquerque stretches my fixed income much further than it would in California. I sold my California home, which had trippled in value, and paid cash for my Albuquerque home. Not having a mortgage is a great benefit. I have a lovely home in a good area where my neighbors look out for me.

I have an excellent HMO health plan paid for by my small Medicare premiums deducted from my social security benefits. I receive excellent care.

As long as my 1990 Volvo holds up, I won't have car payments.

All of this is very important because since I left California, I've been supporting my disabled daughter who is unable to work. Without my planning before my retirement, I would have been unable to take care of her. I hope it will be easier with her leaving California to live with me early next year. My son and daughter-in-law are also moving to Albuquerque by the end of this year. Suddenly, my family I left behind in California will be with me in Albuquerque. Strange how things turn out.

I'm worried that the younger generations won't be able to enjoy retirement as I am. The current administration seems determined to undo the safety nets created during the F.D. Roosevelt and Lyndon Johnson presidencies. Their fiscal policies are bankrupting our nation and burdening the younger generations with debt.

I often wonder if I, born in the first year of the Great Depression, have been living in America's Golden Age of a viable middle class. How sad to see it destroyed.

BBB

In the few years I have left, the government still has time to revoke the rest of our benefits. I blame every administration since perhaps Nixon for the dismantling of the safety net. Bush is the worst, but I also blame Clinton because he adopted Republican ideas, making Democratic resistance to Republican plans a joke. Most of all, I blame the American people for standing quietly by while it happens. Most think they are just sticking it to the shiftless poor. Boy do they have a few surprises coming.

I agree 100% Edgar. There a tax bill in process right now that will lower taxes on the super rich and upper middle classes - it will probably pass and the result will be an even bigger budget deficit. Bigger deficit leads to more borrowing (often from places like China) and cuts in our social programs. Eventually those loans come due, and like any credit addicit, the US will have little to show for it's gluttony. Politicans give people want they want, we need to start seeing taxes as a way to invest in ourselves and demand that the money be spent to better this country. Social security and medicaid are not "pork".

If I fail to directly respond to every single post, I hope you will all cut me a little slack. I read them all and am very grateful for your participation.

I would keep my present job all the way to my 70th bday, but it's too physically demanding. I'll do well to last at it until I become 65 and ten months, as the SS informs me I need to be before I can get a part time job that allows me to keep my SS money. I will probably need to use my 401K to pay off our home, then, if we are frugal - - -

Here's a picture of my Dad shortly before his death in 1948. He's on the right. I don't feel that my workaday life is improved any from his, but at least my kids are able to do better than I have. That's an accomplishment I am proud of.

Well, in Canada, retirement is still 65, at this point.

I have a pension from the company that I work for, which includes a bridge pension that takes me from 55 to 65, when our Canada Pension Plan kicks in.

The part time job idea is a bit of a safety net thing that can be used for unexpected things happening, etc.

Of course, if I have to win at the lottery..... :wink:

Funny thing about this retirement stuff.

My active full time working life will soon be at an end. Mentally and physically, it's great, but if I honestly tell someone how I feel deep down, I'd have to include as part of that, that I'm feeling my mortality somewhat.

We spend the best years of our life on the job.

I wonder what it's like to be born rich?

I know what you are saying, Reyn. Some retired people stop moving and the aging process speeds up for them. Got to stay involved and active.

Agreed. Doesn't matter what it is. Whether this means working a job, or an active hobby.

I'm glad I started with the photography thing again. It gets me out of the home. At least when the weather is half decent.

Otherwise, I might tend to veg in front of the computer for longer than I should.

Next year, I've got plans for lots of little projects around our place, so that alone will keep me busy.

You might want to consider doing some volunteer work. I've worked with the local literacy volunteers and a food pantry for years, and I'm not still a fair way off from retirement.

Funding for US social programs has been slashed, I don't think it's as bad in Canada, but there are always groups (environmental, educational, senior care, etc.) looking for a reliable person to give them an extra hand.

i've been a W.Stiff for a mere 20 years, and there are days when i feel ready to call it a career.

dunno if i can keep going for another 25...

i realllllllly like the idea of Early Retirement

I was a career government employee. you could say I quit working when I was about 30.

he he
Certainly not a postal worker?