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Should I Retire?

 
Anonymous Coward
User ID: 74821276
United States
08/25/2020 01:33 AM
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Re: Should I Retire?
Dollar is in final carsh mode and when that happens pensioners get f*cked the hardest!
Soup

User ID: 78653277
08/25/2020 01:41 AM

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Re: Should I Retire?
take the 3800 and get the insurance elsewhere unless you have major conditions

union stuff ( ins) is nice but...
Isis One

User ID: 76795039
United States
08/25/2020 01:43 AM

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Re: Should I Retire?
Remember you SS is based on the what you made in the last 5 years before retirement...
 Quoting: Southern man 75098604


Wrong.

[link to www.ssa.gov (secure)]
 Quoting: Anonymous Coward 76383507


Thank you. I suspected that post was wrong.
Spread the word, change the collective conscious......
THERE IS MORE THAN ENOUGH OF EVERYTHING TO GO AROUND

When you are undisciplined, the universe is extremely forgiving and when you are disciplined, the universe is extremely generous. Me

One doesn't discover new lands without consenting to lose sight, for a very long time, of the shore. Andre Gide
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Anonymous Coward
User ID: 73813136
United States
08/25/2020 01:48 AM
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Re: Should I Retire?
Yes, and No.

You should "retire" and take what you can get, but also find something to do, no matter what it is, to fill your time and generate a few bucks(cash, off books) to supplement expenses(even if it's just grocery and gas money).

That's at the least, if you can actually take a hobby and turn it into a business, then hell, do it.

Point being, if you have worked all these years, are tired of what you did(do) and aren't materialistic to the point of needing a bunch of money beyond basic living expenses, then take the time, if not an actual retirement, think of it as a 5 or 10 year vacation.

Think of the opportunity as a sailboat, get on it, point it where you "think" you want to go and see where it ends up. It may go where you want, it may end up somewhere else, either way, it was a nice trip.
Anonymous Coward
User ID: 77888403
United States
08/25/2020 01:57 AM
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Re: Should I Retire?
You are right on the cusp at 2100/month.

Any inflation and trouble.Whats your savings like,can you make it to 62 with inflation before early SS?

I think its doable.
Anonymous Coward
User ID: 77888403
United States
08/25/2020 02:01 AM
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Re: Should I Retire?
unless you have bad medical issue,piss off the insurance.get regular exercise and theres a good chance you will die in your sleep and never see a hospital.
3800 is about double my ue,so you are double above me in income.i dont know your bills but i would say thats decent.new truck and house payment with a good fund for extras.
 Quoting: Anonymous Coward 79303048


I am in good health, but my wife , not so much. Been renting for the last 6 years because of a bad divorce. But, I got a good amount of money saved upped to buy some property and we are looking.
 Quoting: kdog82


OK,see you dont own a house.Without that,no,2100/month is going to be real tough.Can you buy something with your savings?
Anonymous Alien

User ID: 79291945
08/25/2020 07:18 AM

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Re: Should I Retire?
Remember you SS is based on the what you made in the last 5 years before retirement...
 Quoting: Southern man 75098604


No it isn't.
Just Passing Through.....
But the greatest is love.....

User ID: 78176210
United States
08/25/2020 07:23 AM

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Re: Should I Retire?
I am 55, will be 56 soon. I can take early retirement now. I would get $3800 a month without our insurance, $2100 with insurance.
Been laid off for 2 months now, collecting unemployment and using my savings.

I have no debt, my bills are about $1200 a month.

I could go back to work making about $48 an hour if I can find work.
 Quoting: kdog82


Dude, retire. Tomorrow isnt promised and this country is going down. Enjoy your time. If you can budget it and KNOW you'll be fine do it. Make a few back up plans like sidework or a hobby you can make money off of if need be. I take it since you said you're union you're a craftsman.
"She isn't real.....I can't make her real"

"Somewhere between the sacred silence and sleep...Disorder, Disorder, Disorder"

"The World is a business Mr Beale..."

"You depend on our protection yet you feed us lies from the tablecloth......"
claircognizant_one

User ID: 79302912
08/27/2020 09:49 PM

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Re: Should I Retire?
Retirement is more than money.
Anonymous Coward
User ID: 77440428
United States
08/27/2020 10:36 PM
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Re: Should I Retire?
I have been working since I was 16. I am now 46 and have been working in IT for 25+ years. I have easily averaged 50-60 hours a week for the last 10+ years.

I am now burned out and have lost my passion for IT.

H1B1s are everywhere. They stick together and look out of any of them reach management. Any non H1B1 employees will slowly be filtered out while their H1B1 buddies are hired on.

People backstab, take credit for other's work, try to make others look bad, etc.

Bad managers who have no clue what you are doing and play favorites to whoever will brown nose them the most.

Not sure how to get out of IT and still make a good living at my age. Also would like to retire in 10 years or so.

Definite open to any helpful advice. Thinking about a career change, but just not sure what to do at this point and still make a good living.
 Quoting: Anonymous Coward 77917415

This is almost my exact same story, only I am 47. Completely burned out. Thought about going into teaching, then the pandemic hit. I am financial very stable, in large part due to working so hard, staying debt free, and saving every penny. I took a breather in November, and am still trying to get my bearings as to where I want to work.

The Hindus have a really interesting take on life phases. They believe that by age 51 you should really start retiring to focus on spiritual matters, teaching the next generation, and turning over your affairs to your eldest son. Not bad advice and outlook. I must have been a Hindu in another life.
claircognizant_one

User ID: 79302912
08/27/2020 10:38 PM

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Re: Should I Retire?
I have been working since I was 16. I am now 46 and have been working in IT for 25+ years. I have easily averaged 50-60 hours a week for the last 10+ years.

I am now burned out and have lost my passion for IT.

H1B1s are everywhere. They stick together and look out of any of them reach management. Any non H1B1 employees will slowly be filtered out while their H1B1 buddies are hired on.

People backstab, take credit for other's work, try to make others look bad, etc.

Bad managers who have no clue what you are doing and play favorites to whoever will brown nose them the most.

Not sure how to get out of IT and still make a good living at my age. Also would like to retire in 10 years or so.

Definite open to any helpful advice. Thinking about a career change, but just not sure what to do at this point and still make a good living.
 Quoting: Anonymous Coward 77917415

This is almost my exact same story, only I am 47. Completely burned out. Thought about going into teaching, then the pandemic hit. I am financial very stable, in large part due to working so hard, staying debt free, and saving every penny. I took a breather in November, and am still trying to get my bearings as to where I want to work.

The Hindus have a really interesting take on life phases. They believe that by age 51 you should really start retiring to focus on spiritual matters, teaching the next generation, and turning over your affairs to your eldest son. Not bad advice and outlook. I must have been a Hindu in another life.
 Quoting: Anonymous Coward 77440428



Exploring one's spirituality takes a lifetime and work gets in the way.
Anonymous Coward
User ID: 41173011
United States
08/27/2020 10:50 PM
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Re: Should I Retire?
Retire and become a gunsmith
Anonymous Coward
User ID: 79314141
United States
08/27/2020 11:00 PM
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Re: Should I Retire?
Work and responsibility gives us incentive to live, we need structure and routine. We weren't created to exist, we were created to produce.

That is why people can't really quit working, and when they do...............they spend years trying to figure out why they are depressed.

Then

They

DIE.
Anonymous Coward
User ID: 79314141
United States
08/27/2020 11:03 PM
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Re: Should I Retire?
Work and responsibility gives us incentive to live, we need structure and routine. We weren't created to exist, we were created to produce.

That is why people can't really quit working, and when they do...............they spend years trying to figure out why they are depressed.

Then

They

DIE.
 Quoting: Anonymous Coward 79314141




We all need to create or build something, if you don't then you become useless.
Anonymous Coward
User ID: 78886172
United States
08/27/2020 11:13 PM
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Re: Should I Retire?
Remember you SS is based on the what you made in the last 5 years before retirement...
 Quoting: Southern man 75098604


Social Security is determined by your highest 10 quarters of income. Period. it is NOT determined by the five years before retirement.
Anonymous Coward
User ID: 79314141
United States
08/27/2020 11:14 PM
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Re: Should I Retire?
Work and responsibility gives us incentive to live, we need structure and routine. We weren't created to exist, we were created to produce.

That is why people can't really quit working, and when they do...............they spend years trying to figure out why they are depressed.

Then

They

DIE.
 Quoting: Anonymous Coward 79314141




We all need to create or build something, if you don't then you become useless.
 Quoting: Anonymous Coward 79314141



Do you know anyone who always parks in the same spot? why??
Anonymous Coward
User ID: 79314141
United States
08/27/2020 11:16 PM
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Re: Should I Retire?
I've got to go to bed............(vodka) sleepy

the answer is "ROUTINE" we all need it!

Good night!
Anonymous
User ID: 19313043
United States
08/27/2020 11:41 PM
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Re: Should I Retire?
Absolutely!

I recommend Michelin or Goodyear!
claircognizant_one

User ID: 79302912
08/27/2020 11:42 PM

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Re: Should I Retire?
Most people are afraid of facing their spirituality, therefore work till you drop.
Anonymous Coward
User ID: 79044425
United States
08/27/2020 11:53 PM
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Re: Should I Retire?
I'm kinda sorta retired since I turned 50.....I been self employed 30+ yrs doing what I enjoyed....made my own hours... my workshop, house and everything else is paid for...no debts at all....

I work 3 days a week on projects and its fun "work"....I'm not sure I need to officially retire....I'm 60 and probably start collecting SS at 62....I'll cut my work down to the max allowed before penalties....I think that's 18K a year....


I can be kinda sorta retired the rest of my life....
claircognizant_one

User ID: 79302912
08/27/2020 11:54 PM

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Re: Should I Retire?
I'm kinda sorta retired since I turned 50.....I been self employed 30+ yrs doing what I enjoyed....made my own hours... my workshop, house and everything else is paid for...no debts at all....

I work 3 days a week on projects and its fun "work"....I'm not sure I need to officially retire....I'm 60 and probably start collecting SS at 62....I'll cut my work down to the max allowed before penalties....I think that's 18K a year....


I can be kinda sorta retired the rest of my life....
 Quoting: Anonymous Coward 79044425


Sorta, kinda, is not retired. You are still working.
Anonymous Coward
User ID: 79044425
United States
08/27/2020 11:56 PM
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Re: Should I Retire?
I'm kinda sorta retired since I turned 50.....I been self employed 30+ yrs doing what I enjoyed....made my own hours... my workshop, house and everything else is paid for...no debts at all....

I work 3 days a week on projects and its fun "work"....I'm not sure I need to officially retire....I'm 60 and probably start collecting SS at 62....I'll cut my work down to the max allowed before penalties....I think that's 18K a year....


I can be kinda sorta retired the rest of my life....
 Quoting: Anonymous Coward 79044425


Sorta, kinda, is not retired. You are still working.
 Quoting: claircognizant_one


I can draw SS and still earn up to 18K a year no?
Anonymous Alien

User ID: 78682637
United States
08/28/2020 04:56 AM

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Re: Should I Retire?
Absolutely!

I recommend Michelin or Goodyear!
 Quoting: Anonymous 19313043


Politics aside, Goodyear sucks ass.
Anonymous Coward
User ID: 78854264
United Kingdom
08/28/2020 05:52 AM
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Re: Should I Retire?
I am 55, will be 56 soon. I can take early retirement now. I would get $3800 a month without our insurance, $2100 with insurance.
Been laid off for 2 months now, collecting unemployment and using my savings.

I have no debt, my bills are about $1200 a month.

I could go back to work making about $48 an hour if I can find work.
 Quoting: kdog82


You are made up! Do it!





GLP