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| Postponing Retirement | Login/Join |
Minor Deity |
I have been working hard to retire at least at 65 or so...I will be 62 next month so been thinking about it more. However, never in my wildest dreams would I find the work of my lifetime in my 60's...I LOVE my work and cannot think at this point of retirement. I have worked to set up systems and make improvement for those that would come after me..but after this week's news, now I am sure I never want to leave! This really is the best work I have ever experienced in my life...A nonprofit urban farm... And now we are collaborating with my other two favorite nonprofits to buy the last farm property in our city for conservation, recreation, education and...farming...I am just bursting with happiness... Mill City Grows, Mass Audubon and LPCT preserve a farm
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Has Achieved Nirvana |
I am delighted that you are so happy! Me, I imagine retiring (re-retiring) nearly every day. | |||
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| Minor Deity |
Quirt, I do have an alternate plan...looking to flex my work to be part time or less full time... I need healthcare to 65 and I am pretty efficient at work..So... I could see my job becoming a 25-32 hour work week with some crossover to train a replacement..in the distant future... But I have jumped in to other areas of work to help out and that is so satisfying..I help by delivering produce to folks who are home bound, help out the education team and work some hours on the farm...so ...not sure what I would want to cut out of it just yet... I can truly say I have never been so happy in my work life as I am now in all my years. It saddens me that it took this long and I hope that younger folks find this bliss much sooner than I did. 
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| Pinta & the Santa Maria Has Achieved Nirvana  |
Depending on the day, I find myself thinking of retirement. But I really do like to work, as long as the work hours and expectations are reasonable. So for the time being I have no need to retire. But I am also financially at the point (along with Mr. Nina) where we can both choose, either together or individually, to retire at any point. Yes, I am aware that I am very, very lucky. I am starting to think of fun stuff to occupy myself when the day comes, however. | |||
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| knitterati Beatification Candidate  |
Bee Lady, that sounds so perfect! I love my work, too, and I get to decide how much or little I want to do. I’m doing a ton right now. I have a new book out, and I’m teaching knitting classes as much as I want to.
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| Minor Deity |
Adagio, I have been following you in knitting circles and am in awe! You go, girl! I love that we as ..ahem...older folks can be valued in the work place. I suppose, now with worker shortages, we may be valued more so! We have a sort of joke in the office..many workers here are in their 20's..."Ask Kerri" is something I often hear as I work at my desk. 
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| Minor Deity |
I have been asked how to... Find the office parking (this included a walk to see the space just today) How to call a phone number that includes an extension number. How to knit How to work the coffee maker How to address an envelope. 
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| knitterati Beatification Candidate |
“Which side does the stamp go on?”
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| Serial origamist Has Achieved Nirvana  |
I still don't really feel retired. I feel like this has just been a re-e-e-e-eally long long weekend. Apparently my former benevolent employer hasn't disabled my e-mail account (for reasons) and last night Mrs pj said my e-mail/IM thingy says I've been out-of-office for 108 days now. I've had two people approach me about doing some freelance work. One is a former boss of mine from NFFMCo who is working for another aviation-related company. So far, the project seems to have fizzled, but they have a deadline at the end of the year, so in a couple weeks, they might panic and try again. The other is an airline, but they are winding down the office stuff for the holiday travel rush and I'll probably hear from them after the first of the year. I kinda miss the paychecks. But I don't miss working. I am not bored or desperate enough to start looking for fun things that will pay me.
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Has Achieved Nirvana |
Well, I’m enjoying my retirement quite a bit. I retired at 66 and 4 months so I can go on and make money if I want, without sacrificing SS benefits. I have an offer to consult for a local company, which I may consider once we are settled. Neither of my parents lived to see 75, and I have no reason to expect I will either. If I really enjoyed what I was doing I might have waited, but arthritis has kicked in and I’m no longer interested in running a business. You’ve not asked for suggestions, but if you did I’d suggest waiting until you’re fully vested ( probably not the right word, Nina will know), in SS, collect your SS and continue doing what you love doing. The extra tiny bit of SS you get from waiting is not worth the risk IMHO. That’s what I would do.
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| Has Achieved Nirvana |
I think about it not in terms of absolute money, but in terms of how it will affect me. If I don't start collecting Social Security soon and if I die at 75, will Mary Anna or I have any financial hardship? No. If we live to 100, will we have some financial hardship? Hopefully not, but that's more of a risk. So I'd rather protect against that risk and wait to collect Social Security, and get a higher payout. | |||
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| Has Achieved Nirvana |
If you wait to collect until fully vested, you get both.
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Minor Deity |
I retired at 69. Postponing retirement does significantly increase your SS payout. I also worked half time starting at age 67. Best of both worlds, home to stay every day for lunch. Working past 65 also made it relatively painless to put an inheritance from my parents towards my daughter’s medical school. Jf
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| Minor Deity |
Do tell. I have thought about doing the same. I was told that Medicare is priced based on the previous few years income, so working part time ahead of retirement could save quite bit. Did you find that to be true, Jack?
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Beatification Candidate |
I think that needs some clarification. If you retire before your "full retirement age" for Social Security, you receive a reduced benefit each month. However, if you delay retirement past that age, you receive an increased benefit for each month you delay up until age 70. That is what I chose to do. Vesting is really a concept that applies to other defined benefit pension plans. The terms of those can vary substantially. I am actually drawing on five such pensions from various employers that I vested with over my career, either directly by working for them a certain amount of time or being credited with service for a predecessor company in conjunction with time served with the subject company. One of those pensions reached its maximum monthly benefit when I turned 62 and I have been drawing it since then. Each of the others differed in some way and, accordingly, I started receiving them at various times. Big Al
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