topic Re: Retirement Readiness? in Community Chat

Retirement Readiness?

buyornot — Tue, 08 Jul 2014 13:16:09 GMT

I am 63,still teaching young ones full-time and have the summer off. My friends all say that you will just KNOW when it's time to retire. Do you retirees find that this was true? Just having the summer off,I am starting to miss work. I don't want my career to be over and my husband is retired and it's a LOT of time together Maybe it gets better with time and you fill space with other things? My grandkids live out of town

Re: Retirement Readiness?

Financialgrl — Tue, 08 Jul 2014 13:27:58 GMT

I think you will just know when its time. I had no choice, they were moving my job over 100 miles away and I actually tried to commute that distance for 2 months and saw it wouldn't work. Even if you retire, you can still volunteer, work something part time that would not make enough money as a career, etc. I retired a long time ago (very early retirement) but I took off a year, worked in a school attendance office for 3 years, took off another year, then did temp work for the school system, volunteered for a few years and now I travel a LOT with friends. Retirement doesn't have to mean sitting at home bored doing nothing.

BTW, any volunteering, part time jobs, etc you choose to do, you're retired so if they don't work out, you can leave, try something else, etc. When you retire you have the flexibility and fewer issues when you were young (usually kids gone, you no longer have to work at any job you don't really care about due to the salary issues, etc.). I constantly redefine my retirement to however I am feeling at any given time - if you are in a rut, you can just change it!

Re: Retirement Readiness?

Preds — Tue, 08 Jul 2014 13:47:09 GMT

I would think that if you are already missing work and are healthy enough to keep working, then why retire? As long as you enjoy your job, it might be helping you stay in mental and physical shape.

Re: Retirement Readiness?

docsgirl — Tue, 08 Jul 2014 13:47:44 GMT

I am a 68 year old retired teacher and work as a substitute. Bless your heart for teaching the little ones but that age level was never for me. I started out in 4th grade but took my 2nd Masters in Reading and became a Title I Reading Specialist, working with mostly middle school children. I didn't actually retire. I resigned my position because my now late husband was critically ill and I refused to place him in a facility. He was a school superintendent. Having rambled on about that, as others said, you will know when it is time. I love substituting because I walk in and walk out, without all of the responsibility. My best friend, also a retired teacher, refuses to step foot in a classroom but does private tutoring so that is another option. I retired from New York but currently reside in Ohio. We have 'retire-rehire,' where you can retire, collect your pension and health insurance and be rehired at a beginning teacher's salary minus benefits. I think you can only work like this for 3 years. I don't know if that's an option where you teach. It's a good thing for the teacher, but doesn't open the doors for the new grads seeking positions. Also, you stated that you are 63 so you do not qualify for Medicare. If you retire, will you have your health insurance paid for by your district or can you be covered under your husband's insurance? These are question that would factor into your decision. It's not my place to say this but I will say it anyway. Cherish every moment you have with your husband. Today would have been our 41st wedding anniversary and I would give anything in the world to have him with me for one more day. As I said, it's not my place but I'm feeling grateful to have had him for a husband but I'm also feeling very sad that he is no longer with me. Enough rambling. Good luck with whatever choice you make. docsgirl

Re: Retirement Readiness?

violann — Tue, 08 Jul 2014 13:55:00 GMT

I also had to retire for health reasons that more or less resolved after I left teaching, and after 7 years away, I have yet to find a really comfortable niche. Be sure you know where you'll be landing before you jump.

Re: Retirement Readiness?

pattypeep — Tue, 08 Jul 2014 14:08:09 GMT

You're not ready and your friends are right. I loved working and loved my job and thought I would die at my desk. Then one day, it happened. The day of reckoning. It's been 6+ years and I've never looked back. Love retirement !

Re: Retirement Readiness?

kdgn — Tue, 08 Jul 2014 15:04:27 GMT

If you don't want your career to be over and you still have the mountains of patience that is required working with the little ones, then you aren't ready. If you only want to return to work because your husband is home full time, then retire and stay home. Don't use the kids as an escape.

I retired early from teaching kindergarten due to my mother's illness. I do regret retiring before I was really ready. But I also know an immense amount of patience and stamina is necessary for that age group. If you still have both of those plus the enthusiasm, you aren't ready. Just don't wait too long.....

Re: Retirement Readiness?

lulu2 — Tue, 08 Jul 2014 15:06:32 GMT

On 7/8/2014 buyornot said:
I am 63,still teaching young ones full-time and have the summer off. My friends all say that you will just KNOW when it's time to retire. Do you retirees find that this was true? Just having the summer off,I am starting to miss work. I don't want my career to be over and my husband is retired and it's a LOT of time together Maybe it gets better with time and you fill space with other things? My grandkids live out of town

I too am 63 and was a teacher. Almost 12 years ago I went on a medical leave for a year, then took early retirement. I can honestly say, even though I loved my job, I have not missed it for one moment. For a teacher, retirement is like having the first day of summer vacation every day. At times I've found myself over scheduled and needed to cut back.

My husband is not retired. When he has a conference in a place that intrigues me, I tag along. Our Grands are about 45 minutes away so I see them often. Our nephews lived with us after my sister and her husband died so I am a grandmother to their children. They live a plane ride away, so I visit them every few months.

Life is never boring.

Re: Retirement Readiness?

route 7 — Tue, 08 Jul 2014 15:13:18 GMT

I knew when it was time. Actually I took a cut in my pension and don't regret it! I'm retired 9 years now and it's so great. There will always be stress, etc. in life but knowing I can get up in the morning and not have to go to work is such a blessing. Of course if you like your job it's a different story but I was tired of the drama and changes that were happening in my workplace. I now volunteer with animals and life is good!

Re: Retirement Readiness?

buyornot — Tue, 08 Jul 2014 15:26:20 GMT

Thanks-LOTS of wisdom here

Re: Retirement Readiness?

DoneTryin — Tue, 08 Jul 2014 15:27:13 GMT

You'll know when you're ready & it's obvious to me that you're not yet ready!

Two days after my 66th birthday, earlier this year, I "hit the wall" so to speak & KNEW it was time. For financial reasons, I am waiting until the year of the year & am looking forward to it.

I hope you continue to enjoy your work & can work for as long as you want!

Re: Retirement Readiness?

cotton4me — Tue, 08 Jul 2014 15:52:52 GMT

I just retired at 61. I told my co-workers the same thing your friends are telling you – you just know.

I had planned to work until I was 70, loved my job, etc. However, various events of the past year made me rethink everything. All signs pointed to retirement. It took me a while to adjust my thinking, but I knew that it was the right time.

It’s still fairly new to me, but so far so good. I had a high-stress job with all the drama, deadlines, working late/weekends, etc. I have a sense of peace that I never knew at the office. I’m enjoying my summer – walking, reading, gardening, cooking, etc. At some point I will be ready to take on more - - perhaps volunteering or working part-time - - but right now I need to decompress.

Re: Retirement Readiness?

esmerelda — Tue, 08 Jul 2014 16:25:48 GMT

You're retired every summer, so you get a taste of it. If you worked in a different job year 'round, you WOULD know when it was time to retire.

Retirement isn't death. Lots of opportunities for volunteer work, part time work.

Re: Retirement Readiness?

abbeythe 8th — Tue, 08 Jul 2014 17:51:13 GMT

On 7/8/2014 esmerelda said:
You're retired every summer, so you get a taste of it. If you worked in a different job year 'round, you WOULD know when it was time to retire.

Retirement isn't death. Lots of opportunities for volunteer work, part time work.

I'm a retired teacher. Summer vacation is nothing like retirement. Most teachers spend a good part of the summer preparing for the next school year.

OP, you will know. Retirement is the best!

Re: Retirement Readiness?

Retiredpsych — Tue, 08 Jul 2014 17:57:59 GMT

I am 67 and retired 3 years ago. I was a school psychologist for 28 years and loved every single minute of my job. I felt so blessed to be doing something everyday that I loved doing. Every year I was ready to work and loved everything about my job. Some years (actually 25 years) I worked year-round (I worked for an enormous school district with hundreds of year round schools). So I didn't have the summer off like many people in education do. The year before I retired, at age 63, I was not even close to wanting to retire. Then, when I turned 64, something just changed in my attitude toward working. That year I did have the summer off and I really really liked it. I realized that I wanted to be able to travel with my husband if we could whenever we wanted, be at the gym with my friends and start painting again. I realized also that I would make nearly as much in retirement as I would make working! So the choice was becoming more clear. I was getting older, and although I felt young , the reality was that I was not, and I wanted to do the things I wanted to do while I still was physically able to. Once I decided to retire, it was like a weight was lifted. That last year was so great. I will be honest and say that I have not missed working for one minute . I think you will know when you are ready to retire. Be thankful that you are in the drivers seat making that choice and not pushed into it because of poor health.

Re: Retirement Readiness?

Moonlady — Tue, 08 Jul 2014 18:05:32 GMT

When to retire is a very personal decision. I was lucky enough to qualify for early retirement, and jumped at the chance. I haven't once regretted it.

Re: Retirement Readiness?

151949 — Tue, 08 Jul 2014 18:13:25 GMT

I had to resign on SSD at age 58. I am now 65 and am very aware that I can never get healthy enough to do my old job -- as it was very physical. I do volunteer jobs and joined some clubs plus my daily fitness workout and housework pretty much fill up my days. DH and I enjoy traveling locally to learn more about where we live - day trips or we go fishing along the inland waterways where we live in florida.Had my health been ok we were planning to work til we were 62(me) and 66 (him) which was at the same time, then retire together.

Re: Retirement Readiness?

lizzief — Tue, 08 Jul 2014 18:18:22 GMT

I have a dear friend whose mantra is that if you are going to retire, have a plan - meaning, don't just quit working, know what you and your DH are going to do with that time. And be realistic - for example, don't think your grand kids will want to spend all of THEIR time with you, they have their own lives. You are so right, it's a lot of time to spend solely with DH, you both need your own interests in addition to things you like to do together. Otherwise you WILL drive each other nuts! I'm thinking of all of these things myself right now. Financially, not there yet, as that will also be a huge adjustment. Retirement -sigh - sounds lovely, but know what you are going to do with all that time, and a lot less money coming in.

Re: Retirement Readiness?

FrostyBabe — Tue, 08 Jul 2014 18:20:19 GMT

I'm in my early 50's and had always planned on retiring at 50. When the opportunity came along to retire in my late 40's, I jumped at it and never looked back. You do need to make sure you're ready, both financially and emotionally. Beyond having enough money to live the way you'd like to, what will you do to fill your days? Personally, I find that I'm much busier in retirement than I had ever dreamed I would be. I split my time between a couple of places and am active in both communities. I travel. I volunteer. I do what I want to do, when I want to do it and couldn't be happier.

Re: Retirement Readiness?

hckynut — Tue, 08 Jul 2014 18:31:34 GMT

On 7/8/2014 buyornot said:
I am 63,still teaching young ones full-time and have the summer off. My friends all say that you will just KNOW when it's time to retire. Do you retirees find that this was true? Just having the summer off,I am starting to miss work. I don't want my career to be over and my husband is retired and it's a LOT of time together Maybe it gets better with time and you fill space with other things? My grandkids live out of town

I knew it was time to retire when I had worked in a hot manufacturing factory and got "the shaft" so many times I lost count. When I had 33 years in with the company I was offered a buyout and I retired. That was in 1991 and I was 52 years old.

Having a profession like you I am sure is completely different. Not many people I worked with in the factory said "I like my job". I had several different ones over those years but even though they were different, some being physically harder some being also mentally harder, but all were in a 95-120 degree plant factory.

Sure I missed some of my co-workers but I also had a very full life outside of work. Even though I was single most of my off work hours were spent with the many things I enjoyed doing, most of which were in some why connected to physical fitness or electronics. Fill the hours of my day? It was never an issue with me as I had more things I could do than I had time, even after I retired.

Don't think there is a "magic age" for retirement regardless of a job or profession. I think it is an individual thing and only that person can make the choice, if they are allowed the option when they get older.

One thing I can say for sure is this. Make sure you have a lot of hobbies or things you enjoy doing that had nothing to do with your profession. At your age of 63? If you haven't gotten into some things by now it might be a lot harder for you to do this. However if you are physically fit and functional I see no reason you can't still find things you enjoy doing.

Many that I worked with that also retired? Some got jobs driving cars to different states and some did other part time things. Why? Because for most of them their whole lives revolved around work, making the money.

I am now 75 and not regretting my decision one single bit. Have enjoyed my retirement even though I have had some pretty tough things to get through for that last 12 years. My time is my time and I can do with it what I please most of the time. I was not "lucky" or "fortunate" to be able to do this. I always had some type of hobby not by luck or good fortunes. It was because I always wanted to be busy doing something I enjoyed and I started that at age 16 when I started driving and also got interested in Auto Racing and I did that around the Midwest for years.