IF..You've retired, in the past 3-4 years, do you NOW wish you'd stayed (what w/inflation growing by leaps and bounds) in the

[SmoothFlying]

I took early retirement (62) when my company came out with a very GOOD retirement package. Well, good for THAT time when inflation wasn't that BIG of a problem. My 401K was based on how the market was back then. Now, ten years later, we're competing with a goverment that seems to think 'money grows on trees'' in EVERYBODY'S yard and all we have too do is walk outside and pick$1000 whenever we need to, or even better wait for the 'Goverment printing presss' to print a few more trillion dollarsand inflate the market even more. I wonder HOW the folks who retired back in 1980-85 can even keep their heads above all this inflation ?

 

Mac  

[SmoothFlying]

Just now, SmoothFlying said:

I took early retirement (62) when my company came out with a very GOOD retirement package. Well, good for THAT time when inflation wasn't that BIG of a problem. My 401K was based on how the market was back then. Now, ten years later, we're competing with a goverment that seems to think 'money grows on trees'' in EVERYBODY'S yard and all we have too do is walk outside and pick$1000 whenever we need to, or even better wait for the 'Goverment printing presss' to print a few more trillion dollarsand inflate the market even more. I wonder HOW the folks who retired back in 1980-85 can even keep their heads above all this inflation ?

 

Mac  

I meant to end the tittle with  'in the workplace'. I didn't realize it would cut my ending off. Sorry about that.

[geekette]

LOL nope.  The market has been very, very good.  DH retired 9 years ago at 51 and we have twice the portfolio we started with.  

C'mon, if you retired 10 years ago, you must have lived through the 80's with home interest rates in double digits, and the early 70's when they went through the grocery stores putting new price stickers over old (sometimes more than once).  That was inflation.  

My dad retired in the 80's.  He's gone now, but my Mom keeps telling me that they've taken out more than they put into their retirement stash, and yet, it's still higher than when he retired.

[Ferry_Watcher]

Did your early retirement package include a pension that was adjusted for inflation, or COLA?  Did you pull out your 401K investments out of higher yielding funds (target funds, example Year 2020), and instead put them into safe, but low/no interest money market funds? 

Did you start taking social security at 62, or did you wait until you were 65?

Is your home worth a lot more now than when you retired (like worth crazy more)? 

Did you overspend in those first 3-5 years of your retirement?  Maybe before your pension and/or SS started?

 

With your investments here's planning, historically staying the course with the stock market (index funds) works best, and a bit of luck all involved.

Hang in there!

 

[iancal]

Absolutely not.  

 

You cannot buy time, especially time with good health.

 

Retired 10 years ago.  Lot of international travel.  Pre covid at least 4 months per year, often more.   Our equities more than doubled during that period.  We experienced very little inflation (comparatively) over the past 10 years with high returns net of inflation.

 

I know too many colleagues who waited too long and lost out because of poor health or worse.

 

Inflation will impact us to a certain extent but will not change our travel or spending habits.

Edited April 2, 2022 by iancal

[Lois R]

Nope, don't miss any of it. And definitely have no desire to go back to work.

[KKB]

Our district just approved 4% raises for teacher for the next 3 years--the highest raise EVER given (well, since I began in 1990).

I admit it gave me pause after I had given my notice...but a few more days...NOPE.

I made the right decision.

Yes, I would make a nice chunk more the next few years.

That really wouldn't impact my retirement ALL that much.

Time to move on.

Travel...

6 cruises booked in the next year...considering 1 or 2 more...

WORTH IT

[SmoothFlying]

35 minutes ago, KKB said:

Time to move on.

Travel...

6 cruises booked in the next year...considering 1 or 2 more...

WORTH IT

Good for YOU !!! You've given 'em your youth ! YOU deserve to SEE  and GO when and wherever you please. We are NOT promised one more second on this earth after we've retired. I've heard from some other work friends about men who retired after 29-30 years and didn't last another year (it happens everyday) and it's scary. Glad you won't be one of them.

 

Mac

[Dream1]

Nope not at all.

 

[Mary229]

Many people retire and leave their portfolio in a set it and forget it mode.  Perhaps you need to adjust your asset allocations.
 

Fortunately for us I own a business and was supposed to retire in 2020.  With the shutdowns instead of retiring I expanded my online business and was able to continue working at my own pace.  I didn’t see any reason to not continue employment on my terms.  My business has always allowed ample time to travel and recreate.  

[iancal]

In the past few years I have lost three former colleagues.  All were in a position to retire.  Two were in their very early sixties. The third waited until 65 to retire, then dropped dead.  He was in the process of planning a family cruse with children and grandchildren.  He never got around to it.

 

I did not want to be one of those people.   Retired early and changed our lifestyles-weight, exercise, and what we ate.

[shippmates]

No I retired as planned and so glad I did.  My husband of 50 years had 5 years of retirement making memories before he passed suddenly in December.  We are never promised tomorrow.  Enjoy the time you have with your loved ones.  

[satxdiver]

I retired at 59 over a decade ago and have not regretted it one bit.  I have been having the time of my life enjoying what I had put off and not looking back.  When I was about to retire I talked to a former fellow employee who had retired 5 years before me and what he told me was to enjoy retirement and never look back.  He was right and glad I listened to him. 

[cruiselvr04]

You all are just confirming my decision.  During covid I was diagnosed with stage 4 cancer.  I’m now in remission but it could come back.  I need to work just 3 or 4 more months to be able to keep my present, very good, insurance post retirement as a supplement.  
 

We have cruises planned into 2024.  Since my diagnosis I’ve only been working to maintain insurance or I’d have stopped 20 months ago.  We have taken 40 cruises over the years and we’re very glad we didn’t wait until retirement for those.  Now we want to do some long ones as while working it was hard to get more then a week off.  I also want to spend more time with the grands who live in another state.
 

 None of us are guaranteed tomorrow.  We have worked very hard, saved and invested and now it’s time for us to have some fun before it’s too late.

[peanut head]

I'm in a similar boat, Cruiselvr04.  I have terminal lymphoma that is inactive and will never go into remission.  As soon as we get the OK from my oncologist I am back on board!  I am now working P/T to secure my present (and somewhat good insurance--because, as you know, health insurance is only good as long as you don't need it😁) and that should be in the next couple of months.  I do love my work (I am a healthcare provider) and feel bittersweet about the thought of leaving my current (and future) patients in a rural government facility.  I don't plan on being the wealthiest person in the cemetery and want to enjoy now!

[Kiran]

Retired this year at 60, reaping a bonanza of cheap cruise deals this year, and planning to look for part time work in the Fall to help cope with inflation for the following years.

[iancal]

After almost ten years of very frequent and extended international travel (with the exception of covid) our equity position has doubled.

 

Perhaps retiring early was the best financial decision we could have made.   But that does not matter as much as the freedom, the experiences, and the good health that we have enjoyed post retirement.   We could never put a value on those.

 

For us it has always been about moving forward with our lives, with our careers, based on the stage in life  we happen to occupy at that time.

Edited May 9, 2022 by iancal

[SargassoPirate]

I took a buyout twenty years ago, with an immediate pension with COLAs.  Haven't regretted it for one minute.  You can always make more money, but you can't make more time.

 

Have you ever heard anyone get to the end say "Gee, I wish I had spent more time at the office"?

[sentrydriver]

I have long been an early retirement booster and enjoyed my four years of retirement.  I have returned to the workforce only because the right job came along.  My wife and I decided I should apply for the job when in opened (in July 2019 when things were more optimistic) rather than let it slip by and wonder “what if” for the rest of our lives.  Our finances in retirement were solid and I definitely was not bored.  I now have a job that pays better than the last one I retired from, pays us to live overseas and provides paid travel opportunities.  We look forward to resuming retirement in a few years but are enjoying the ride now.  We often quip that this will take us from a comfortable retirement to a luxurious one.

[SFRiA]

Retired at 59 and have NEVER regretted it even one minute. It's been 6 years now and still loving every day that I don't have to put up with the BS in the office!

[lenquixote66]

I was downsized by a company that I worked for 25 years.I was offered incentives to not sue .

 

I chose the incentives which were free health insurance for my wife and I for life.

Free legal service for life 

Full salary for 8 months.

[Clonmelgal]

I retired from a government career 2 months before my 60th birthday. I took care of my elderly dog until he died then covid hit and my Mom came to live with us. Those days are beyond treasure. After she passed we were left a small inheritance that allowed us to book a Disney Alaskan cruise. We were hooked. 

I never invested my money but taxed sheltered what I could. I have my gov. Pension plus two government social pensions ( CPP, OAS in Canada) and I have more than I earned at my job, not much but enough to travel 2-3 times a year. Life is good!

[14Terry]

Retired at 58, 2 years ago. Not looking back for a second 😁! Retirement is magnificent! 

[Clonmelgal]

Retired at 60 with a full work pension. Took my Seniors pension(OAS) at 65 and CPP at 66 because as a single person it ends when I die. My work pension will end when I die although my married colleagues will leave theirs to beneficiaries. 

That being said, as a single gal, I own my own small farm, have everything I want and travel 2-3 times a year, limited by my responsibilities at home. I have more disposable cash now than at any time during my working life. Never really invested, just saved and tax sheltered what I could. I love transAtlantic cruising!

[BamaVol]

I miss some aspects of my job. But there’s a lot I don’t miss. 
 

Typically retirees spend conservatively to start out. After 4-5 years, they realize they’re not immortal and draw from savings to live it up a little. Then health issues reduce travel and spending goes down for a while. Finally the health issues get serious and spending ramps back up. I’d like to think I’m set for all phases - just starting phase II.

 

YMMV