# Retirement-Telling It Like It Is !



## pacodemountainside (Sep 21, 2014)

http://www.marketwatch.com/story/10-things-retirees-wont-tell-you-2014-09-19


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## x3 skier (Sep 22, 2014)

Having retired 17 years ago, I have yet to experience any of the negatives mentioned in the article. 

Cheers


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## rapmarks (Sep 22, 2014)

retired over 15 years ago, haven't experienced financial problems, yes health problems, and I have taken care of one elderly relative after another


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## artringwald (Sep 22, 2014)

I think the article was subsidized by companies trying to keep people from retiring. Yes, you drones should keep working and help support our pensions and social security payments. What we don't want you to know is that retirement has been great. :whoopie:


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## WinniWoman (Sep 22, 2014)

artringwald said:


> I think the article was subsidized by companies trying to keep people from retiring. Yes, you drones should keep working and help support our pensions and social security payments. What we don't want you to know is that retirement has been great. :whoopie:




Right on! I can't wait to ditch my job and finally live life on my own terms. 9 more years seems like an eternity and I don't even know if I will make it! I can barely get myself up to go to work everyday.


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## csxjohn (Sep 22, 2014)

I think retirement is horrible and anyone working on the railroad should just keep working.

I get no days off, no holidyay pay, no vacation time, and every day is the same.  No week ends to look forward to and since I don't have to be at work I sometimes sleep in until 8 or 9 O'Clock.

I often don't know what day it is or what time it is, it's really awful, just keep working.  I am so busy now that I don't know how I had time to go to work and I often went into work to get a rest from the other things I do.

Projects also take longer now, I used to be under pressure to get things done before I have to leave for work but now I keep putting things aside when I'm tired of doing them.

And all that's not even considering the big cut in pay I had to take.  The way it's going now,  I may have to dip into my IRAs within the next 10 years or so.

Just keep working, you'll have more direction in your life.

If I could get my seniority back I'd go back to work.


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## falmouth3 (Sep 22, 2014)

It is true that many people have not saved enough for retirement.  I, on the other hand, have been a saver since before I even had my first job.  I don't think financial difficulties will be an issue for me.  

However, stress levels are sure to rise when DH retires because he wants to be doing something every minute and there's only so much home improvement that can be done on the house. He has no hobbies and won't take any classes, despite much encouragement from me. It will probably be 3 years until he retires.  Any suggestions?


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## pedro47 (Sep 22, 2014)

I have been retired for 13 years and my spouse for 14 years. We have not experienced any of the problems in that article. 

This is only my suggestion start saving early and stay spiritually, physically and mentally in shake.  Exercise and eat right.


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## bogey21 (Sep 22, 2014)

I retired 13 years ago.  I was a workaholic often leaving the house at 4 am and returning at 9 or 10 pm.  I was worried about adjusting.  The truth is it took me about 24 hours to adjust.

One of the keys is not having to worry about money.  I ran a large Bank and convinced my long term key employees to forgo current income in exchange for enhancing out defined benefit pension plan.  Thus I (and we) were able to retire with very decent monthly checks which when added to Social Security put us all in good shape.

There are two risks I monitor.  The first is the solvency of the entity paying my pension (It is fine).  The second is massive inflation depreciating the purchasing power of my stream of monthly payments.  I am addressing this with a portfolio of physical gold and silver.  I know many of you will disagree with this but I consider it akin to buying car insurance.  Pay the premium and hope you never need to collect.

George


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## ronparise (Sep 22, 2014)

I dont fish and I dont hunt, I dont play golf or tennis, , in fact no hobbies at all...(except timeshares) and how much television can a guy watch. No friends and no family living close by...On top of that Ive  made enough financial mistakes that I come to retirement age without enough to live the life Ive grown accustomed to.  Social Security is a major part of my retirement income 

So I keep working.. Only a few hours a day but its enough to keep me busy and interacting with people other than my wife, and it keeps food on the table.  Im happy.


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## ronparise (Sep 22, 2014)

falmouth3 said:


> It is true that many people have not saved enough for retirement.  I, on the other hand, have been a saver since before I even had my first job.  I don't think financial difficulties will be an issue for me.
> 
> However, stress levels are sure to rise when DH retires because he wants to be doing something every minute and there's only so much home improvement that can be done on the house. He has no hobbies and won't take any classes, despite much encouragement from me. It will probably be 3 years until he retires.  Any suggestions?



He needs to get a "job"  It doesnt have to pay, it could be as simple as reading to kids at the public library (if libraries still exist)  I know a guy that just turned 75, he manages his condo  association and the community marina.  Not much money in it, but it keeps him busy doing real work and interacting with other people.


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## Passepartout (Sep 22, 2014)

The article seems to be sponsored by an investment outfit. You don't suppose they have an agenda, do you? For sure, a wealthy and healthy and busy and connected retirement is far better than being sick, in a travel trailer, subsisting on Social Security, cat food and mac 'n' cheese. We would hope that TUGgers fall into the former category, not the latter. 

Jim


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## elaine (Sep 22, 2014)

[there's only so much home improvement that can be done on the house].
________________
what about volunteering for Habitat for Humanity or offering services at a local church to assist elderly with home repairs. This is one of the plans for DH when he retires.


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## AwayWeGo (Sep 22, 2014)

*When You're Retired . . .*

 *. . .* every day is like the 1st day of a 3-day weekend. 

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## Sugarcubesea (Sep 22, 2014)

Being in the automotive sector, I and the hubby took signuficany hits on our 401K's and our wages were frozen for 7 years. Hubs company went belly up during the Great Recession so now we are just trying to recoup what was lost.  I was a great saver but having hubs unemployed for 18 months did a number on the savings.  


I'm hopeful I can retire when I'm 66.


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## DeniseM (Sep 22, 2014)

Tomorrow, it will be 4 mos. since I retired from teaching.  Now that school in back in session, it has become "real."  There are some things I have regrets about (the school program I managed is falling apart) but I had been very unhappy at work for a couple of years, and I certainly don't wish to go back.

I have lots of things I like to do, so I have no problem keeping busy at all.  

DH is going to work one more year.  He is a workaholic, who writes a daily agenda even on the weekends, so I don't know what he is going to do with himself after he retires.  He needs to find a hobby, or a part-time job.

We are big planners and savers, so the "pitfalls" in the article don't really impact us, either.  I agree with the others who said that the article was probably written to sell their investment products.


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## Fern Modena (Sep 22, 2014)

There were a couple of things that weren't strictly financial based in the article, and they bear thinking about.

If you (and your spouse, if one) move to a "retirement home" in a new location, get involved. Join things...clubs, religion, volunteer, anything to meet new people. If you are married, do some of this as you only activities. Sad as it may seem, your spouse may not be there forever, and you will need to have friends, so you aren't socially isolated. Take it from me, I know (luckily, Jerry and I both had some separate activities and friends).

Health issues are more likely to happen the older you are, so don't put things off! If you want to go somewhere, do it before you aren't able to do so. You never know when that might happen! It may never happen, but it might. 

I've had a wonderful retirement (almost 13 years now). Can I say that none of the article applies to me? No. But retirement has still been good.

Fern


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## Luanne (Sep 22, 2014)

I'm not even going to read the article.

We retired almost two years ago and are loving it.  I wish I'd retired years earlier.


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## vacationhopeful (Sep 22, 2014)

My last structure job ended in 1987.

I am too busy with STUFF - one of which involves getting money out of my collection of houses and apartments. Another is doing my timeshare activities - similar to the first activity, just more done in cyber-space with a better level of people to interact with. And I am always LEARNING and keeping mental alert --- you know, the old saying... keeping on YOUR TOES. I figured out that means, Running your butt off. 

Recently, my 89 year old aunt got 20+ stitches in the head last weekend; BIL dying and leaving my baby-sister stunned for a good year plus (and living 1500+ miles from where you live); and all the "its the economy, stupid!" issues.

I had much more FREE time when I had a job. But a really have a better quality of life now. And I weigh 45 lbs less.


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## cotraveller (Sep 22, 2014)

csxjohn said:


> I think retirement is horrible and anyone working on the railroad should just keep working.
> 
> I get no days off, no holidyay pay, no vacation time, and every day is the same.  No week ends to look forward to and since I don't have to be at work I sometimes sleep in until 8 or 9 O'Clock.
> 
> ...



You cracked me up with that one. :rofl: I took early retirement 17 years ago and have never regretted it.


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## JudyH (Sep 22, 2014)

Interesting article.  I think we won't have the money probs. So far we have our health. No more parents to take care of. Starting to do extensive travel.

We moved to Fl. It is hard to meet people with our similar interests. We are not religious so no meeting people that way. We are younger than most of the other retirees. DH has no hobbies except reading and never drives cause of long standing vision problems. My goals the first year were to declutter the house (which we did cause we moved), learn to use my new camera, and play the banjo. We signed up for bridge ( mostly for DH to have a hobby and to meet people) I am catching up on reading, but that leaves me alone a lot.

I haven't done volunteer stuff cause we are traveling so much.

What I was surprised to find, was that the past 10 days I have been with my DIL and new grandson. There have been medical issues and although I am not an M.D., I am in my element dealing which her care. I have enjoyed the pressure and planning, although I am sorry things have been tough for her.

I have found I don't like being on committees or planning social activities. I am not one to work with the community association.

The local hospice needs help and that might be how I can help.


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## Luanne (Sep 22, 2014)

We moved when we retired.  Before we moved we did a lot of research.  We ended up in Santa Fe and I couldn't be happier.  We knew exactly two people (three if you count our realtor) when we arrived.  We have met so many people through the various organizations and volunteer activities we've been doing.  As someone said, most of us are in the same boat. We moved here not knowing anyone and we're all anxious to meet new people.  It's been wonderful.  We're much more active socially than we were before moving.


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## LisaH (Sep 22, 2014)

Luanne said:


> We moved when we retired.  Before we moved we did a lot of research.  We ended up in Santa Fe and I couldn't be happier.  We knew exactly two people (three if you count our realtor) when we arrived.  We have met so many people through the various organizations and volunteer activities we've been doing.  As someone said, most of us are in the same boat. We moved here not knowing anyone and we're all anxious to meet new people.  It's been wonderful.  We're much more active socially than we were before moving.



Luanne,
Now that you are in Santa Fe, does it cost more for you to go to Hawaii? What airline do you take?


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## Sugarcubesea (Sep 22, 2014)

Luanne said:


> We moved when we retired.  Before we moved we did a lot of research.  We ended up in Santa Fe and I couldn't be happier.  We knew exactly two people (three if you count our realtor) when we arrived.  We have met so many people through the various organizations and volunteer activities we've been doing.  As someone said, most of us are in the same boat. We moved here not knowing anyone and we're all anxious to meet new people.  It's been wonderful.  We're much more active socially than we were before moving.





Santa Fe  is one of the area's we are looking at for retirement. I have heard that a retiree can live quite nicely there...Since I'm still about 15 years away from retirement, I can continue to look and scout out areas.


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## bastroum (Sep 22, 2014)

The article seems pretty accurate to me. I find the travel part interesting because we are so involved with timeshares. My wife and I have been traveling (increasing each year) without increasing our housing budget. We downsized our primary home and increased our MF budget. We now spend 4 to 6 months a year in timeshares without increasing our housing costs. We love timeshares. Moving around really keeps us from being bored. I do work a little (much less each year) because I'm able to use the internet, cellphones and FedEx. That does,restrict my travel to the U.S,A. We will be trying Aruba next month for 10 days (1st time out of the U.S, in 20 years) so I'm interested to see how the communication issues play out. If it's not a problem, we will try other places.


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## am1 (Sep 22, 2014)

How old was everyone when they retired? 

I cannot see myself ever retiring.


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## JudyH (Sep 22, 2014)

I love Santa Fe. Been there a lot. Just too far from my kids. We actually moved to FL knowing about a dozen family and friends. Just need to find some people to hang with and enjoy a glass of wine.


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## WinniWoman (Sep 22, 2014)

am1 said:


> How old was everyone when they retired?
> 
> I cannot see myself ever retiring.




Are you kidding? You must have a great job that doesn't feel like work with lots of autonomy. 

I wanted to retire at age 16 when I got my first job! I hate paid employment!


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## WinniWoman (Sep 22, 2014)

csxjohn said:


> I think retirement is horrible and anyone working on the railroad should just keep working.
> 
> I get no days off, no holidyay pay, no vacation time, and every day is the same.  No week ends to look forward to and since I don't have to be at work I sometimes sleep in until 8 or 9 O'Clock.
> 
> ...



John- I hope you are joking! And- have to dip into your IRA's in 10 years! Sounds like a good pension is coming in! Mine will probably be gone WITHIN 10 years of retirement! God bless you! You have it made in the shade! I long for the kind of freedom you have!

Mary Ann


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## WinniWoman (Sep 22, 2014)

falmouth3 said:


> It is true that many people have not saved enough for retirement.  I, on the other hand, have been a saver since before I even had my first job.  I don't think financial difficulties will be an issue for me.
> 
> However, stress levels are sure to rise when DH retires because he wants to be doing something every minute and there's only so much home improvement that can be done on the house. He has no hobbies and won't take any classes, despite much encouragement from me. It will probably be 3 years until he retires.  Any suggestions?




How about volunteer work or more timeshare traveling?


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## WinniWoman (Sep 22, 2014)

bogey21 said:


> I retired 13 years ago.  I was a workaholic often leaving the house at 4 am and returning at 9 or 10 pm.  I was worried about adjusting.  The truth is it took me about 24 hours to adjust.
> 
> One of the keys is not having to worry about money.  I ran a large Bank and convinced my long term key employees to forgo current income in exchange for enhancing out defined benefit pension plan.  Thus I (and we) were able to retire with very decent monthly checks which when added to Social Security put us all in good shape.
> 
> ...



I am hoping when DH retires in 6 years that we can just take a lump sum and control our own money. I do not like payouts or annuities for several reasons. He is only entitled to a small pension as the company has, of course, changed the way they calculate the whole thing- to their favor- not the employee's- but I hope that they will allow the lump sum payout like they do now so we can invest it ourselves.


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## WinniWoman (Sep 22, 2014)

I always say "I have no time to work" and "work gets in the way of my life!":rofl:


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## WinniWoman (Sep 22, 2014)

Because we have to wait until we are 66 and 67 to retire, we are currently fixing up our 27 year old home for our own enjoyment. We then plan to see how we feel physically and what's going on with the currently bad real estate market here and the financial markets, and then possibly sell the house and move to New Hampshire to a retirement community to be near our son who lives there. That is a BIG IF we can afford it. We want to save on taxes, too, as we currently live in NY. We really have no other immediate family other than him. I do have a brother, but he will be moving to Florida where he already has a second home. I am hoping to get the house done while I am working and take a first trip to Italy with our son- but again- if we can afford it. heck- we will be near 70 when we retire!

Anyhow, my husband is currently very active in a Sportsman's Club and he likes the computer.

I hope to start a blog and if we move, I hope to volunteer in a Vermont welcome center as I hope to live near the border. I currently belong to the Vermont 251 club (goal to travel to all 251 towns in the state) and enjoy talking to tourists and have a lot of knowledge of the state- like an ambassador! I also hope to get one or two small dogs when I don't think we will do much traveling anymore. I hope to do some cooking and baking that I never am able to do. I would love to take a class. Hell- the possibilities are endless! 

The first year I retire I plan to do ABSOLUTELY NOTHING! My husband says he gives me a couple of days before I go crazy! LOL!


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## Luanne (Sep 22, 2014)

LisaH said:


> Luanne,
> Now that you are in Santa Fe, does it cost more for you to go to Hawaii? What airline do you take?



We've only been to Hawaii once since we moved.  Remember we only moved at the end of 2012.   We went last summer for three weeks.  Since we used ff miles I can't tell you if the cost was more, but I'm sure it is.  It's certainly more challenging to get there.  Instead of a direct flight from SFO to either OGG or KOA (United) we have to go ABQ to either SGO or LAX then on.  On our return trip from KOA last summer we went KOA to SFO to LAX then ABQ.  A long day.  We fly United since that is where we have miles.


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## Luanne (Sep 22, 2014)

Sugarcubesea said:


> Santa Fe  is one of the area's we are looking at for retirement. I have heard that a retiree can live quite nicely there...Since I'm still about 15 years away from retirement, I can continue to look and scout out areas.



We moved from the San Francisco Bay area so to us Santa Fe is very reasonable.  Most things cost less, the only thing that is more is our car insurance.  That is due to the uninsured motorist portion.  Much higher here.

This is a wonderful place for retirees, not so much if you need to work.


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## Luanne (Sep 22, 2014)

am1 said:


> How old was everyone when they retired?
> 
> I cannot see myself ever retiring.



I was 62, dh was 66.  If he hadn't retired and we hadn't moved I probably would have worked until I was 65, but I was sure ready to retire when I did.


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## Fern Modena (Sep 22, 2014)

Jerry, who was nine years older than me, retired at age 58. I retired at age 52-1/2, after having Jerry say, "Woman, go to work" for three plus years.  Never sorry I made that decision. By the time I was 62, Jerry had been dead two years.

Everybody has to do what is right for themselves.

Fern



am1 said:


> How old was everyone when they retired?
> 
> I cannot see myself ever retiring.


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## pedro47 (Sep 22, 2014)

I was 54 and she was 53.


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## am1 (Sep 22, 2014)

mpumilia said:


> Are you kidding? You must have a great job that doesn't feel like work with lots of autonomy.
> 
> I wanted to retire at age 16 when I got my first job! I hate paid employment!



I would like to be able to retire now but not sure what I would do with myself.  I really enjoy the 4 businesses that I am.  Always looking to take on more but turn down the stuff I do not like or does not pay enough.  Financially I hope to be able to retire early.  But that means I would have to sell what I have.  Really not much but I am happy with it.   For me knowing I can retire when I want is more the goal then retiring.  Or maybe slowing down should be the goal eventually.  

But every dollar I make gets me $1 closer to being able to retire but every day I unfortunately get one day closer to retiring or worse.


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## csxjohn (Sep 22, 2014)

mpumilia said:


> John- I hope you are joking! And- have to dip into your IRA's in 10 years! Sounds like a good pension is coming in! Mine will probably be gone WITHIN 10 years of retirement! God bless you! You have it made in the shade! I .ong for the kind of freedom you have!
> 
> Mary Ann



Thanks for the kind words Mary Ann.  

I hope things work out for you that you don't burn up your IRAs too quickly and enjoy the life you have ahead of you.

Yes I was joking, I'm constantly telling it to my co workers who are still there, I'd like them to keep paying into Railroad Retiement so there will be more money coming in.

I've been very blessed my whole life and my wife is a saver.  We are frugal with most things.  I drove borderline junkers for years and I fix everything I can before it gets thrown out.

We don't smoke and don't have cable TV.  That and our limited cell phone plan saves us a fortune.

Between our RR retiement, the wifes SS and our very small company pensions we have enough to live on month to month and still put a little away.  We gave away much of our savings to our kids, they need it now, not when we die, hopefully in the distant future but you never know.

We are also lucky that we are both healthy and take no prescription drugs.

When one of us goes the retirement income will be cut in half for the other but there are some insurance policies in place to make up some of that.

When I got to retirement age, 60 with 30 yrs of service for the railroad, I went the month I turned that age.  I did not sit down and figure out if I could afford it or not, that probably would have kept me working.

Here is the advice I try to give people whenever I can.

Our lives are straight lines, we know the begining and we know where today is.  The end is out there but we don't exactly how far out it is.  Here's the important part.

Every day you work you are one day closer to the end and have one less day of retirement.  This is true for everyone no matter your circumstances.  

Not only that, we don't know how our health is going to hold up.

I firmly believe in what Fern said above, "don't put things off."


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## csxjohn (Sep 22, 2014)

am1 said:


> How old was everyone when they retired?
> 
> I cannot see myself ever retiring.



I was 60, my wife 62.  I got full benefits, my wife took the reduction.  When you pay into Railroad Retirement you can go at 60 if you have 360 months of service  With less than 360 months you fall under the Social Security rules.

Of course if we had worked longer we would have more in the bank and our retirement checks would be higher but who knows what else might be different?  A lot can happen.

I've been out seven years and am leading a happy life.  Live music a few times a week and this year 5 weeks of timesharing so far and the highlight of the year coming up, the King Biscuit Blues Festival.


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## pedro47 (Sep 22, 2014)

csxjohn said:


> I was 60, my wife 62.  I got full benefits, my wife took the reduction.  When you pay into Railroad Retirement you can go at 60 if you have 360 months of service  With less than 360 months you fall under the Social Security rules.
> 
> Of course if we had worked longer we would have more in the bank and our retirement checks would be higher but who knows what else might be different?  A lot can happen.
> 
> I've been out seven years and am leading a happy life.  Live music a few times a week and this year 5 weeks of timesharing so far and the highlight of the year coming up, the King Biscuit Blues Festival.



Your retirement plan is rated as one of the best plan in the United States.


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## bogey21 (Sep 22, 2014)

mpumilia said:


> I am hoping when DH retires in 6 years that we can just take a lump sum and control our own money. I do not like payouts or annuities for several reasons. He is only entitled to a small pension......



With a small monthly pension payment a lump sum can make sense as long as you have the discipline not to blow it and the ability to invest it.  

George


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## sun&fun (Sep 22, 2014)

DH retired at 62. I left the federal service six years later to draw retirement at 58 but I've worked part time on consulting and short term contracts for the past 7 years and loved it. I could choose what jobs I wanted to undertake, set my hours, and schedule time around my travel and vacations while maintaining contact with colleagues and friends in the workplace. 

I'm currently serving on the board of a very active non-profit organization and it's surprising how much time that "volunteer" position can take up. I'm thankful for that opportunity and other volunteer work since I can't imagine what I would do with myself if not actively engaged in something outside my house and garden!


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## ampaholic (Sep 23, 2014)

I retired last year at 61.5 with two modest pensions and some pretty solid investments - and then my Social Security in three years - pretty comfortable. DW has 6 years to go (she plans to retire at 62).

I keep busy enough with my hobby - building rat rods - and with my Downs Syndrome Daughter.

The article didn't turn my crank either.


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## WinniWoman (Sep 23, 2014)

But what does everybody do about health insurance if you retire before age 65?


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## WinniWoman (Sep 23, 2014)

csxjohn said:


> Thanks for the kind words Mary Ann.
> 
> I hope things work out for you that you don't burn up your IRAs too quickly and enjoy the life you have ahead of you.
> 
> ...



I love that line of thinking... John! 

And it's all about balance. We, too, have been frugal- not perfectly as we like to live a little. And- like I mentioned- we are spending quite a bit of money updating our home (heck- I still have the original living room couch from when we were in our early 20's! Time for a new one- but not until 2 years when our hallway work if finished! Then, onto the living room! LOl!)

We take 4- 5 vacations per year with our timeshare and renting timeshares (plus- my husband's hunting excursion with his brother-in-law each Nov.) One week per season to help make work more tolerable. We usually are pretty frugal when on those vacations, with some exceptions.

I hope we can leave our son some money, but not sure we can just hand it over to him, as I do not have a pension myself. I am a saver- in fact I save my entire paycheck and we live on hubby's. But, a big part of my savings goes into the house fixing/upgrades right now. Living in NYS is a big part of the problem. If we can retire to NH, it will help us a bit with expenses and maybe we can give our son some money, especially since he struggles.

What you said about one spouse passing away and losing that SS check is what scares me- second to the loneliness. Our life insurance policies expire when we turn 65.

We hope that life gets even better when we retire- at least for a while, but we all know things eventually go downhill at some point. Just hoping to make it for that "better" part and for it to last as long as possible!


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## rapmarks (Sep 23, 2014)

I retired at 55 and my husband was 57.  
health insurance was expensive and we figured 1000 a month for medical costs.
we don't get social security, but have good pensions   and we lived frugally.   Now we are forced to withdraw from our IRa's and 403B's not because we want to, but because it is mandatory.


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## falmouth3 (Sep 23, 2014)

Thanks everyone for the suggestions for DH.  I've been mentioning a few of those ideas to him over the last few months since I left full time employment.  He's reluctant to try new things so I think we'll need to ease him into something over the next few years.


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## rapmarks (Sep 23, 2014)

in our community in sw florida we have a group called the Volunteers.  These men do projects in our community such as building retaining walls, fixing the cart paths (new cement),  building a fern garden, all kinds of projects in our community, they are out working every day, some work every day, some just a little, some work on paperwork, some work in their machine shop, a retired fire chief from NYC says he is 5th shovel for the group, their wives have started a group where they dead head the flowers.  they also have dinner together once a week, play golf in a group once a week, etc.  they have a big golf outing once a year to raise money for their projects.
we also have the Care Bears, who help anyone who is ill, or in need of help with rides to doctors, paperwork, etc.


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## bogey21 (Sep 23, 2014)

mpumilia said:


> But what does everybody do about health insurance if you retire before age 65?



I'd buy an Obama Care Policy with a large deductible knowing that it is only catastrophic coverage only.  This will give you protection with the smallest monthly premium.  If you have a major pre-existing condition, you might consider a more expensive Obama Care Policy.  I'm not sure what to do about prescriptions as I haven't researched it as I am over 65 and on Medicare.

George


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## Passepartout (Sep 23, 2014)

The company I'd worked for for 23 years and I parted ways when I was 62. DW goes into her office most days, but the answering machine says, "Office open by appointment, or by chance." She only works for clients she likes. It's good that she is there managing her investments, a small foundation, civic commitments, hobbies and is out of the house. It gives me more time for what passes for creative outlet in the kitchen and walking with my best friend, the dog.

We are both children of children of the depression, and as such have been lifelong savers. We don't live in a McMansion, it being paid for over a decade ago. So far, our Social Security and an annuity I set up with proceeds from inheritance from my parents more than stays well ahead of day-to-day living, and MFs. The IRA's continue to grow, and it looks like they won't need to be tapped until Mandatory Distributions kick in at age 70.5. It might get more difficult then to manage. We DO have professionals for guidance there.

When I look in the daily obituaries in the local fish wrapper, it's both disturbing and reassuring that the departed are just about 50-50% older and younger than we are. We are not as healthy as we were 10 years ago, but can still confidently buy green bananas with confidence that they'll be eaten. 

We are very, very happy that we dropped out of the rat race when we did, have traveled as much as we have, and that it appears now that we will not outlive our resources. There is a good chance that we will be able to assure that all our grandkids will be able to afford to get as much education as their talent, ambition, and desire leads them.

Life is good.

Jim


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## ampaholic (Sep 23, 2014)

mpumilia said:


> But what does everybody do about health insurance if you retire before age 65?



Well, I'll be getting Medicare in three years (also three before DW retires). We all three are on her Company Health Plan until then.

Once DW retires she will go on Medicare as well. 

And when DD hits 18 she will be able to start SSDI and two years after that Medicare.

So 3 years for me, 5 years for DD and 6 years for DW - perfect timing.

I guess that's why they call it "planning".


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## Luanne (Sep 23, 2014)

mpumilia said:


> But what does everybody do about health insurance if you retire before age 65?



I guess I was lucky. I was fully retirement eligible due to my age (62) and years worked. I am still fully covered through my former employer.  In fact if it was just me my cost would be $0.  But since I am covering dh's Medicare supplement we do have a small monthly premium.


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## Joe33426 (Sep 23, 2014)

am1 said:


> How old was everyone when they retired?
> 
> I cannot see myself ever retiring.



I have 25+ years for full retirement under social security, although if all goes well I plan on working into my early 70s.

I've watched my parents retirement and I feel somewhat pessimist about that phase of my life.  Although my folks don't struggle with the money issues mentioned in the article, all of the health and related issues are there.  Big time travel is definitely a pipe dream for my folks.  

We're doing as much travel now (when were are able to get around easily) as possible.  Since we're on a school schedule, there is plenty of time to vacation "big time" now rather than wait for retirement.  Next year we have a 5 week cross-country trip and 2016 5 weeks in Europe.  Why wait for retirement?


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## PigsDad (Sep 23, 2014)

Passepartout said:


> but can still confidently buy green bananas with confidence that they'll be eaten.



LOL -- I hadn't heard that one before.  Thanks for the chuckle!

Glad to hear your retirement is going well.  I am younger that most of the posters here (late 40's), but have found myself thinking more and more of retirement in the last couple of years.  I was even been eligible for an early retirement package my company offered a couple of years ago (based on age + years of service), but couldn't justify it given having a daughter still in school.  

My goal is to retire at 57.  House will have been paid off for about 6 years by then and daughter will be out of college.  Being aggressive in the stock market and actually "doubling-down" after the big crash in '08-'09 instead of pulling out as so many people were doing has really paid off big for us.  Retiring at 57 I think will be a good balance of still being able to do all the things we like while still being financially secure enough so we do not have to worry about running out of money.

Kurt


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## csxjohn (Sep 23, 2014)

mpumilia said:


> But what does everybody do about health insurance if you retire before age 65?



I was fortunate, my employer gave me and my wife a policy until I reached 65.  We paid about $200 per month each to enhance the policy.  Once I turned 65 that policy ended for each of us.

We paid about $600 per month for 8 months for a policy from United Health Care until my wife reached 65.  We chose a high out of pocket plan and hoped for no accidents for that time.

We knew about that 8 month gap ahead of time so we planned for it.

Many people that worked for the smaller railroads that don't have coverage for retirees must continue to work until 65 because of the health care cost issue.


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## Fern Modena (Sep 23, 2014)

My former employer offered to continue my medical insurance, but at a higher rate. I paid $350. a month, plus a $250. deductible and 15% of everything. I have a PPO, not an HMO, due to moving out of my employer's area. If I still lived there, I could have had better/higher coverage if I took the HMO. But I was/am very happy with what I have since it is portable. I also had prescription care, $10/30/90. for 90 days, depending on if it is generic or not.

Once I got to Medicare age, my employer's insurance (which is UHC) became secondary. I now pay an average of $3.33 per doctor's appointment. I no longer have a premium for the secondary insurance. I also have "Credible Coverage" for Medicare Part D, paying the same amounts for meds that I did before, except that my employer subsidizes me through the "donut hole," and I don't see any change in coverage there (very important to me because I take some very expensive meds). 

I am very lucky with my medical coverage.

Fern


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## WinniWoman (Sep 23, 2014)

Things are different with us. No employer health insurance when we stop working. Screwed. Can't be retiring younger with no income coming in (no pension; can't cut it on lower SS payments for age 62) and having to pay health insurance premiums and high school and property taxes (and heating oil). Unfortunately, I just don't see it working out financially in our case.


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## Glynda (Sep 23, 2014)

*Senior Center*

Our community has a very active senior center for those 50 and above.  I am amazed at the large variety of offerings and the number of people who use the center. From a fully equipped gym to on-site health care and advice, classes in computers, foreign languages, dance, yoga, pilates, bridge and other games, art, crafts, organized travel, coffees, luncheons, dinners and mens' breakfast out, etc., there seems to be something for everyone and it's a great place to meet new people.


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## rapmarks (Sep 23, 2014)

we are so busy in our community in florida that we are exhausted sometime. my typical Tuesday is at golf course by 7:45, 18 holes of golf and then lunch, home to change into bocce shirt for bocce match which keeps us busy from 2:30 to 5:30, where i have to skip dinner with the group to go to duplicate  bridge at 6:15 and get home around 9:30  every day is just as busy.I have it rough:rofl:


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## mjm1 (Sep 23, 2014)

Thanks for posting the article and then everyone sharing their experiences. 

I am 16 months away from qualifying for an old fashioned pension at 60. My DW is younger, but is mentally ready to retire at any time. We don't know if we will retire then but it will be nice to have the option. I keep saying "if I like what I'm doing and I am healthy, I will keep working for a while." There are certain days that could go either way, as we all know.

Mike


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## Stressy (Sep 24, 2014)

csxjohn said:


> I was fortunate, my employer gave me and my wife a policy until I reached 65.  We paid about $200 per month each to enhance the policy.  Once I turned 65 that policy ended for each of us.
> 
> We paid about $600 per month for 8 months for a policy from United Health Care until my wife reached 65.  We chose a high out of pocket plan and hoped for no accidents for that time.
> 
> ...



Hi John,

I've been following your posts as we are also railroad. This last one confused me because you said you went at 60 and wife was 62. Why did you have a gap? Unless you meant you were 62 and she was 60??

I ask because I really want DH to go at 60.(5 years from now)  I'm five years younger. Insurance is a big issue. I understand we can supplement in between 60 and 65 for both of us-but when he turns 65, I have to go to the "big" payments. We're trying to plan for it OR split the difference with him going at 62 and only waiting 3 years for my spousal pension to kick in and hopefully cover the larger insurance payments until I can hit Medicare age.

We're also frugal and have a good amount in the 401K but I feel like it's all going to go toward insurance. I'm such a planner...you have to be with timeshares that I often feel like I've planned for the future and neglected the present. I'm over stressing about it.....Lucky you only had 8 months to deal with it. I've got 5 years


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## falmouth3 (Sep 25, 2014)

Glynda said:


> Our community has a very active senior center for those 50 and above.  I am amazed at the large variety of offerings and the number of people who use the center. From a fully equipped gym to on-site health care and advice, classes in computers, foreign languages, dance, yoga, pilates, bridge and other games, art, crafts, organized travel, coffees, luncheons, dinners and mens' breakfast out, etc., there seems to be something for everyone and it's a great place to meet new people.



Our senior center has lots of activities and lunch too.  I need to see if they have a gym.  I need to join one and if one is available free, so much the better. I haven't been to the center except for some community based classes.  Thanks for posting.


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## bogey21 (Sep 25, 2014)

I have an observation FWIW.  Technically I live in a 16 story CCRC but for the last few years have not slept there.  Because my Son floats back and forth to Iraq I primarily live in a duplex to take care of his German Shepherd.  But I do hang out at the CCRC quite a bit.  I go there maybe 4 times a week to eat, check my mail and socialize.  My observation is that those who are able to drive and/or travel seem to age slower than those who are pretty much stuck there even though the CCRC has many activities where they take residents off campus.

George


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## csxjohn (Sep 25, 2014)

Stressy said:


> Hi John,
> 
> I've been following your posts as we are also railroad. This last one confused me because you said you went at 60 and wife was 62. Why did you have a gap? Unless you meant you were 62 and she was 60??
> 
> ...



My wife is 8 mos. younger than me.  I went when I turned 60 she waited until 62 to go since her Social Security is more than half my Railroad Retirement.  She could have just gone at 60 but she had good insurance and was only working part time at our church so we still got to do what we wanted pretty much when we wanted.

We did not continue with the railroad policy, we got a different policy from UHC that had lower monthly payments. It was called Golden Rule

Even though she was working she started collecting Railroad Retirement at 60. After the reduction for still having wages she still got a couple hundred a month from RR Tier II.  Once she quit working, she collects her SS and half my tier II.

I was in a situation where my company, LTV, went out of business, I worked for one of their railroads.  I was shy about 2 1/2 years of getting my 360 credits and a friend and I  went to Toledo to work for CSX.  It turned out to be a blessing in disguise because we get the retiree health care.

Someone bought out the steel mill and they were talking about getting out of railroad retirement.  The reason the RR Retirement is so good is because we pay more in for the tier II and the employer has to add a large amount to the fund.  If the mill would have gotten out of RR I would have had to start looking again.

One factor that played into it is was the danger involved with being a freight conductor.  Every month our union news paper would come and my wife would see the stories about workers being killed and/or seriously injured.  She wanted me out of there.

One thing for you to consider would be working part time, either you or your husband to supplement the pension and do put away for that five year gap you are going to be facing.  There are limits to what you can earn and the first year  is a little different.

If he's got one of the easier jobs it might just be worth him working a little past 60 to put some away specifically for your insurance payments.

The last two years I worked I put the max. amount into my 401K, it was somewhere around $12,00 at the time.  That pumped up the fund and I didn't miss the cash.  Since I was over 59 1/2 when I went, I could start taking that money out anytime I needed it with no penalties involved.  This might be a good plan for you too.  Just don't go over the limit or you'll be paying double taxes on the money if you don't correct it immediately.


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## rapmarks (Sep 25, 2014)

i retired at 55, and had only 18 medicare credits so i worked enough to earn the 40 credits.


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## Medulla (Sep 27, 2014)

csxjohn said:


> I think retirement is horrible and anyone working on the railroad should just keep working.
> 
> I get no days off, no holidyay pay, no vacation time, and every day is the same.  No week ends to look forward to and since I don't have to be at work I sometimes sleep in until 8 or 9 O'Clock.
> 
> ...



This is hilarious tongue-in-cheek - love it & personally endorse (from personal experience thru 20+ years of retiement) every sentiment in each "talking point"


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## Stressy (Sep 30, 2014)

csxjohn said:


> My wife is 8 mos. younger than me.  I went when I turned 60 she waited until 62 to go since her Social Security is more than half my Railroad Retirement.  She could have just gone at 60 but she had good insurance and was only working part time at our church so we still got to do what we wanted pretty much when we wanted.
> 
> We did not continue with the railroad policy, we got a different policy from UHC that had lower monthly payments. It was called Golden Rule
> 
> ...



Ok. Now I understand. I have spent the last few days researching everything...what he can collect, what I can collect. Offset-because I do work...whether taking my insurance (which I currently do not take because his is better) into the gap period will work. The answer on that is NO WAY if we retire outside of California-it's currently over 1900 a month!

I don't even need to apply for my SS as the spouse pension is more....if I make it 70 and apply then it might be more. I can keep my little pension too without offset.

I can continue insurance through the railroad as a spouse at three different levels. The highest/best policy is currently 605 monthly. That's actually 30 LESS than the pricing from last year. WOW, an insurance rate was actually reduced in the last year. Fabulous. 

I just assumed you continued also as you mentioned UHC. That's our current insurance.


401K is in good shape pending any market fallout-I already experienced that.. but when Berkshire Hathaway (Warren Buffet) bought our railroad-that straightened out into the positive and then some. Love you, Warren! We can supplement with that.

I'm feeling better.


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## Glynda (Sep 30, 2014)

*Senior Center*



falmouth3 said:


> Our senior center has lots of activities and lunch too.  I need to see if they have a gym.  I need to join one and if one is available free, so much the better. I haven't been to the center except for some community based classes.  Thanks for posting.



Alas, the senior center I go to is not free (Mt Pleasant, SC).  Though it is a city senior center, membership is $100 a year and certain classes are $5.00 per class.  Once you have membership, there are some a number of free activities and use of the gym is free  There is always peanut butter and jelly, crackers and some kind of sweet roll, brownies, or other things like that along with coffee in the cafe.


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## suzanne (Oct 1, 2014)

Lymphoma Cancer forced DH into early retirement in 2008. I retired 2 years ago. DH is I n remission now and we live each day as fully as we can because we never know when HIs cancer will reappear. His type has no cure.

I haven't read the article because whether or not it has any points that may pertain to us, we are retired so they don't matter. 

The best thing that I can tell anyone thinking of retiring is that they need to be sure that they get in enough exercise and eat healthy to be able physically to do the things in retirement that they want to be able to do. DH and I go to our local gym 3 days a week and do cardio and weights to stay fit. We take very active vacations such as zip lining, scuba diving, dogsledding in winter, ice skating and lots of travel to see different places. Our bucket list gets longer instead of shorter.

Financially we have DH's pension and both our social security checks to live on. I'm blessed with the knowledge that he did the proper paperwork when he retired that spelled out that if he should die before me, then his pension reverts to me for the rest of my life. He did this to protect me knowing that if something happened to him I would lose his social security. We also moved to a 2 bedroom condo and gave up our house. This way whether its financial or health issues, we don't have to worry about any type of repairs or yard work. Its all taken care of for us.

Bottom line is we both love being retired and doing what we want when we want and hope we stay healthy enough to continue doing so for a lot of years to come. By the way DH just turned 70 years young in August.

Suzanne


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