# It's Official:  I'm Retiring!



## DaveNV (Jan 25, 2020)

Well, it's finally happening:  I am officially retiring.  Third time's the charm, since I tried to do this last Summer, then again at the end of 2019.  In both cases things were delayed.  Now the stars have aligned, and I've firmly decided to pull the plug at the end of March.  Eek!!  It's getting real - exciting and a bit scary, but I think I'm ready this time.  

I work in IT at a busy hospital system, where I will mark my 12th anniversary a few days prior to my last workday.  In a meeting with my Manager the other day, he asked if I was getting closer to a firm retirement date.  We've had the discussion a few times, so he knew it was coming. I said that Yes, I finally had all my retirement papers processed, and I was going to submit my retirement notice at the end of February, for an end of March departure.  He said the sooner they know I am definitely leaving, the sooner they can recruit and hire my replacement, since I have a rather specialized position.  He also said if they could get my replacement onsite soon enough, I could do a face-to-face turnover.  I couldn't disagree with that logic.  So after the meeting I went to my desk and sent him my formal, official, "finally, it's time" retirement notice.  

Now the countdown really starts - eight weeks from yesterday.  It's a bit daunting, I must say.  After 48 years of working in IT, on every kind of computer platform and network imaginable, from the smallest handheld to room-sized mainframe systems, in a wide variety of locations, environments, and employers, military and civilian, and in every conceivable kind of position - computer operator, programmer/analyst, repairs, training, database and server administrator, Help Desk, and who knows what all else - it's finally coming to a close.  It's been a hell of a ride, and I have enjoyed every bit of it.  In all these years, I know I have learned something new about computers every single day.  I've had a great time, and I couldn't have chosen a better career for myself.

One advantage delaying retirement till March is giving me:  The opportunity to "practice" being financially retired.  My retirement income is in place, and arriving on schedule.  I'm spending these three months living on only those funds.  My paychecks from my employment are going directly to savings, and I'm pretending I don't have that coming in.  I'm forcing myself to work only with my retirement income.  It's working really well, surprisingly.  I think when it all happens for real, I'm going to be fine.  I like when a plan comes together. 

Retirement is already shaping up to be a busy time for me.  My "honeydo" list is a mile long, and seems to be growing by the day.  Spouse has to work another few years, so I should be able to get things done around home without a lot of interruptions.  We'll see how that goes. And it won't all be about working - I've got a half-dozen short trip getaways planned for us this year, and a three week trip to Hawaii this Summer.  I may have to go back to work just to get some rest!  

For those of you who have already retired:  How long did it take for you to make the transition (or did you?) from getting up early every day to get ready for work?  After a lifetime of getting up at the crack of dark to go to work, I'm not sure how it will be not having to answer to the alarm clock.  

Dave


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## Passepartout (Jan 25, 2020)

Way to go, Dave. I still get up about the same as I did when working. The difference is I no longer wear a watch - unless traveling. Seems one has to abide with schedules when dealing with travel necessities.

You're REALLY gonna like this!  

Jim


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## Karen G (Jan 25, 2020)

Congratulations, Dave!  Retirement rocks!


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## jacknsara (Jan 25, 2020)

Aloha Dave and welcome to retirement.
My answer to your transition time question is "instantaneous"
By the time I chose to retire our finances were solid and Sara had already quit working.  We didn't socialize outside work with any of my workplace colleagues so I didn't miss them socially. Consequently, retirement was instant liberation.  No more alarm clock.  I am have sleep issues but I was no longer chronically sleep deprived.
I haven't missed work at all.  Five plus years on I barely remember the names of most colleagues.
Jack


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## Timeshare Von (Jan 25, 2020)

Congratulations Dave!  I'm very happy for you.

It seems so easy to "just retire" but your post is a reminder that it is far from a simple process.


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## DrQ (Jan 25, 2020)

Congrats! Hope you enjoy your retirement.  Maybe a good time to get out of IT.


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## MULTIZ321 (Jan 25, 2020)

Conhrdts Dave.  You will enjoy this new chdpter j. Your life!
Richard


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## controller1 (Jan 25, 2020)

I hope you enjoy retirement as much as I do. It's great having the freedom.


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## Luanne (Jan 25, 2020)

Congratulations Dave!!!!

I've never been an early morning person so it didn't take long for me to get out of the habit of getting up at at the crack of dawn.


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## bbodb1 (Jan 25, 2020)

First and most of all, congratulations Dave!  I too am looking forward to that day(hopefully soon)..

I can't let this one pass without a comment though:



jacknsara said:


> ...My answer to your transition time question is "instantaneous"
> By the time I chose to retire our finances were solid and Sara had already quit working.  We didn't socialize outside work with any of my workplace colleagues so I didn't miss them socially. Consequently, retirement was instant liberation.  No more alarm clock.  I am have sleep issues but I was no longer chronically sleep deprived.
> I haven't missed work at all.  *Five plus years on I barely remember the names of most colleagues*.
> Jack



There is a part of me that thinks substituting 'minutes' for 'years' might be appropriate in my case.  But that is not the point I wanted to address here. 
I get so tired of a place I am working for trying to label the staff as 'family' and then using that manipulation to further put the screws to the employees. 
My relationship with the people I work with is limited to that environment - the workplace. 
I purposely avoid people I work with when I am off work as I want and need that space (that separation if you will).  
Management wants to create this 'family' bond in the hope that workers will give effort on work outside the workplace because 'we are in this together'.
Horse dung.  Management can and will sacrifice family members in a heartbeat if it suits their purpose of the week.  And far too many colleagues will be more than happy to watch someone else stand up for what is right only to sink a knife in your back once you are the one standing.  
The door will not hit me on the south side when I depart and I will not miss my place of employment at all.

Maybe seconds instead of minutes....


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## DaveNV (Jan 25, 2020)

DrQ said:


> Congrats! Hope you enjoy your retirement.  Maybe a good time to get out of IT.



Get out of IT?  I'm not sure how easy that will be - my "geek" runs pretty deep - my family would say "Clear to the bone."  LOL!   I have a few ideas of smartphone apps I'd like to try and put together.  A different slant on things, sure, but I enjoy programming quite a bit, and it might be worth it to build something just for fun.  And potential profit. 

Dave


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## DrQ (Jan 25, 2020)

DaveNW said:


> Get out of IT?  I'm not sure how easy that will be - my "geek" runs pretty deep - my family would say "Clear to the bone."  LOL!   I have a few ideas of smartphone apps I'd like to try and put together.  A different slant on things, sure, but I enjoy programming quite a bit, and it might be worth it to build something just for fun.  And potential profit.
> 
> Dave


Yeah, your talking to a guy with a 2U dual 8 core processor computer in his sunroom


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## pittle (Jan 25, 2020)

Retirement is awesome! 

When I retired, it did not take long to acclimate because like you I had been making plans for a while.  I had always hated getting up no later than 6AM, so I made a point to use my weekend and vacation mantra that getting up before 7AM was just unheard of - especially in the winter when it was still dark.  In the summer when the sun starts brightening up the bedroom before 6, I do get up before 7. BUT, the best thing is that you can have coffee and peruse the internet and see what has happened on TUG first thing and not have to worry about rushing out the door.  It is great to not have to rush through your morning to get out the door and drive in traffic. To be able to go to any store on Tuesday morning when it is slower is really nice.


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## bluehende (Jan 25, 2020)

Congrats

Now follow my philosophy

Every morning I get up with a plan to do nothing.
and every day I get at least half of it done.


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## VacationForever (Jan 25, 2020)

Congratulations, Dave!

For me, at the age of 52, we had an out of the blue offer to buy our business.  My husband had wanted to retire for years and he wanted us to consider the offer. On the other hand I had always wanted to work until 62 and felt that we were not financially ready to be retired.  We declined that first offer to buy our business but I warmed up to the idea of not working.  We approached a M&A broker and he got 2 comparable offers for our business within a month and we were out in 2 months.  I said that I would take a year off and reassess as to whether I wanted to go back to work.  I got used to not working and decided that retirement agrees with me. 

We golf, travel and cook.  Life is pretty good in retirement.


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## Rolltydr (Jan 25, 2020)

DaveNW said:


> For those of you who have already retired: How long did it take for you to make the transition (or did you?) from getting up early every day to get ready for work? After a lifetime of getting up at the crack of dark to go to work, I'm not sure how it will be not having to answer to the alarm clock.
> 
> Dave



First of all,congratulations! I think you will love retirement and it sounds like you’re already planning some trips so you’re getting a good headstart.

I also had a long career in IT before retiring in 2013. It took me approximately 1 nanosecond to transition. I still remember the pure joy and excitement of walking out the door and across the parking lot to get in my car and leave work for the last time. My wife and I left the next morning and went to the beach for a week. It was pure bliss, the most relaxed I’ve been for that length of time in my entire life. 

Now, as far as the waking up early, that hasn’t worked out as I had hoped. After so many years of waking myself up at 5:15 every morning, it’s been extremely difficult to turn off that internal alarm clock. Most days, I wake up about 5:30 or 5:45. On a good morning, I sleep until 6, and on rare occasions, I can make it until 6:30 but that’s about it. But, when I do wake up, my time belongs to me, not someone else. I don’t miss the meetings. I don’t miss the phone calls. I don’t miss the stress. I don’t miss the business or IT lexicon.That former life gave me the opportunity to enjoy the better life I have now. 

Good luck and enjoy the end of your work days and the beginning of your retirement!




Sent from my iPad using Tapatalk


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## silentg (Jan 25, 2020)

Dave;  First, congratulation regarding your upcoming retirement.  I too had a lengthy IT career.  Forty six years altogether with 32 at my last employer.  Here is how I transitioned from employment to retirement.  I literally went on vacation and never came back.  I suggest you and your wife schedule a vacation IMMEDIATELY after your retirement date and just mentally never return to work.  ~ silentg’s husband


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## mjm1 (Jan 25, 2020)

Congratulations Dave! That’s fantastic. Having more control over your time is a wonderful thing. Enjoy the transition.

Best regards.

Mike


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## DaveNV (Jan 25, 2020)

Rolltydr said:


> First of all,congratulations! I think you will love retirement and it sounds like you’re already planning some trips so you’re getting a good headstart.
> 
> I also had a long career in IT before retiring in 2013. It took me approximately 1 nanosecond to transition. I still remember the pure joy and excitement of walking out the door and across the parking lot to get in my car and leave work for the last time. My wife and I left the next morning and went to the beach for a week. It was pure bliss, the most relaxed I’ve been for that length of time in my entire life.
> 
> ...



Thanks, Harry.  I'm right there with you.  It's a Saturday morning, and I woke up on schedule this morning at 5:00AM - no alarm required.  I forced myself to try and get more sleep, but it didn't happen.  I was up and at 'em by 5:30.  It's a double-sided thing.  I do enjoy getting my rest, but on those days when I'm awake early, I like the peace and quiet of having time to myself before the household wakes up.  So maybe after retirement I won't mind if I wake up early, since I know it's another Saturday - seven days a week.  

@jackandsara and others:

Leaving coworkers and work friends behind won't be terribly hard, either.  I'm Facebook friends with a couple of people at work that I'm friends with away from work, and I expect those friendships will continue.  Of my immediate co-working team (seven others), I'm only friends away from work with one, who also happens to be a near neighbor.  The other six are fine and dandy at work, but I'm not likely to care a whole lot what they're up to after I retire, and I'm not FB friends with any of them.  It sounds a bit cold, but it's really not.  We have a great working relationship, but it kind of stops there.  My 20-year Navy career taught me that coworkers come and go quickly, some without notice, as they transferred out or were medically removed from the workplace.  I made fast friends with many other sailors, but as they left for other locations, it was a wish for "Fair winds and following seas" to them, and a warm greeting and "Getting to know you" to the new person who replaced them.  Now, more than 25 years after Navy retirement, I only stay in touch with a handful of people I knew back then - and we went through some heavy stuff together.  I expect it'll be the same with my current group of coworkers.

Dave


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## DaveNV (Jan 25, 2020)

silentg said:


> Dave;  First, congratulation regarding your upcoming retirement.  I too had a lengthy IT career.  Forty six years altogether with 32 at my last employer.  Here is how I transitioned from employment to retirement.  I literally went on vacation and never came back.  I suggest you and your wife schedule a vacation IMMEDIATELY after your retirement date and just mentally never return to work.  ~ silentg’s husband



That actually sounds like a fantastic idea.  

Dave


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## silentg (Jan 25, 2020)

Dave we were on a plane at 7 am the first day of retirement. Best thing to do, he has been enjoying retirement very much and we have been traveling a lot since August. I was already retired but having DH retired has felt like real retirement for me.
Silentg


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## b2bailey (Jan 25, 2020)

Retirement is a wonderful life, whatever you choose to make it. The two words mentioned that are key -- freedom and choice. To have both in abundance, that's where my joy is found.


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## MOXJO7282 (Jan 25, 2020)

Also from me congratulations DaveNW!  Such a long career deserves  many years of enjoying the fruits of that labor so cheers to you doing that.

I do often wonder as I think about my retirement that I hope will happen withing 2-3 years and what the transition will be like. For us it will also coincide with our 2 kids leaving the nest, and mostly likely the selling of our home that I've toiled over for 27 years to downsize so there are big changes on the horizon. We all suffer though the challenges of work and kids especially in the mid years when the pressure is on to produce and raise a family or just a good life for yourself and for the future.  

 I do look forward to the time when that is all behind us and it should be soon where kids are secure in their adult lives and we'll be financially secure to do what ever we want but still do wonder for myself if I'll miss at least some of the chaos that was my work life and family life and the home fix ups when we enter the next phase of our lives.  I know one thing it will include a lot of TUG and alot of travel God willing.


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## geoand (Jan 25, 2020)

Congratulations!
I have to admit that I thought you were retiring from your official position here on Tug as Costco Adviser!
As to your questions - Don’t dwell on any of them. You will do just fine. Biggest problem you might have is remembering to schedule your TIME SHARES. I asked DW if we scheduled our October trip to Manhattan club yet. She told me that I did that this past October. DW retired 3 years before me & I retired 9/4/1999 & have not forgotten to schedule but came close once. 
YOU ARE GOING TO LOVE RETIREMENT


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## WinniWoman (Jan 25, 2020)

Omg! Congratulations!  Very happy for you! Well deserved and exciting! Enjoy every minute!


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## clifffaith (Jan 25, 2020)

Yay Dave, congrats!


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## dsmrp (Jan 25, 2020)

Congrats Dave! 
Some of my retired friends said it took about 6 months to settle into a comfortable routine. But none regret retiring or miss the work environment.


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## easyrider (Jan 25, 2020)

Good for you Dave ! I retired a few years ago after a health problem that seems to be a problem of the past. I also wondered if our retirement plan would work out. It seems like it did. Officially retired, unofficially semi retired . Still enjoy working on remodeling projects from 10 a.m. to 2 p.m. on the days I want. Sometimes more , sometimes less, sometimes not at all. I am amazed at how fast time goes by in retirement. Anyway, I bet you will enjoy it.

Bill


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## turkel (Jan 25, 2020)

Congratulations! A retirement well deserved! I hope the transition goes well for you. My spouse and I are right behind you with a 11/2020 date.
Do you have any concerns about retiring without your spouse?


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## DaveNV (Jan 25, 2020)

silentg said:


> Dave we were on a plane at 7 am the first day of retirement. Best thing to do, he has been enjoying retirement very much and we have been traveling a lot since August. I was already retired but having DH retired has felt like real retirement for me.
> Silentg



I think when my spouse retires that's exactly what we'll do.  Right now, I'm the first one to retire, so things aren't quite as fluid as they will be in a couple of years.  Bonus:  The conversation about spouse taking early retirement has begun in earnest.  So both of us being retired may happen sooner than later.  We'll see. 

Meanwhile, I have this lengthy chore list to start chipping away at, getting our house in order so that when full retirement for us both does happen, we can cash out and head for a warmer climate. 

Dave


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## DaveNV (Jan 25, 2020)

turkel said:


> Do you have any concerns about retiring without your spouse?



Not really, since my days for the next several months will be spent working on our house.  There are some "involved" projects I've been waiting to tackle - replacing some flooring, painting inside and out, upgrading the HVAC, replacing some failed window seals, adding a second-story deck off an office bedroom, new landscaping, other things.  The bigger projects I'll be supervising the contracted workers on, the lesser ones I'll do myself.  But they're all "daytime, Monday through Friday" kinds of things that I've been unable to do while working full time.  The goal is to get the house in tip-top condiiton, so when we cash out in a few years we can maximize the return.

And then, when the chores are done, there's that fishing pole that's sitting in the garage, feeling lonely and ignored.  I may spend some time getting reacquainted with it.  I'm not a golfer, but I do enjoy having a well-developed "hook" shot.  

Dave


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## WinniWoman (Jan 25, 2020)

As you know I’ve not worked since Sept. 2018. I had no issues transitioning as my personality is such that I am always busy doing something, even if it is just reading. Then, of course, the whole selling, buying and renting house thing came along and have been in a flux ever since and not settled yet. I used to get up at 4 am each day before work to do stuff, including exercise, but I quickly adjusted to the seasons. Right now get up at 7am when the sun is up and go to bed around 10 or 10:30, though I do not sleep well at all. In the summer I know I will be up with the birds.

For my husband, who just retired before the holidays, it’s been hard because we are in limbo in the rental house and he does not have much to do- and that is an understatement. We both are just “ waiting” around to move. This said, for us it has been too many life changes at once. The downsizing of a majority of our earthly possessions,  house selling and buying thing, living in this rental out of boxes and the huge expense of it, his retirement and all the logistics of that process with his company, no livable pension coming in and not taking SS yet, dealing with the heath care insurance system- Medicare for him and regular insurance ( and maybe ACA soon) for me.  Major overload for me who handled the majority of all of it while hubby worked. 

For a person with OCD like me where I am super organized and always have a plan and in control, and lived in a beautiful home before this rental house, this has really aged me. 

For my husband so far he has not had any enjoyment out of being retired yet other than that he doesn’t have to wake up at 5 am and commute. Me- I’m still waiting for the fun to begin. 

Hopefully will be moving in 2 weeks ( please pray for us that it doesn’t snow) and we can begin to work towards having some kind of normal life again. Will take a long time, though.

I am worried about finances big time. Not having a paycheck coming in each week is scary. I still am not sure how we are going to live. I have a good idea of what expenses will be for our budget, and in the Northeast they ain’t low.  Plus the new house needs a lot more money put into it.  That’s why we need the FA.

Anyhow- through everything I don’t see how I could have worked. It was more than a full time job doing it all.

Anyway, despite everything, I never want to work again. My husband might consider a per diem type thing like at Lowe’s or something in a year or two, but since we have so much to do at the new house in the meantime,  I venture to guess he won’t want to when the time comes.

Anyway, to me, it’s all better than going to work everyday, though a lot of it has been harder than my actual job was.


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## bogey21 (Jan 25, 2020)

DaveNW said:


> For those of you who have already retired:  How long did it take for you to make the transition (or did you?) from getting up early every day to get ready for work?  After a lifetime of getting up at the crack of dark to go to work, I'm not sure how it will be not having to answer to the alarm clock.



I'm sure it is different for everybody.  In my case for years I would leave the house before daylight and return home after dark.  I was concerned how I would adjust.  The not working part was easy.  I found plenty to do and didn't mess work.  To this day 20+ years later I have not been able to shake my body clock and I continue to wake up around 5 am.  The way I handle it is to lie in bed with the TV on and get my news fix for the day.  Then I get on the Internet and do a bunch of stuff.  After that I am footloose and fancy free.  I really thought I would have trouble not going to the office but in truth never did...

George


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## Grammarhero (Jan 25, 2020)

DaveNW said:


> Well, it's finally happening:  I am officially retiring.  Third time's the charm, since I tried to do this last Summer, then again at the end of 2019.  In both cases things were delayed.  Now the stars have aligned, and I've firmly decided to pull the plug at the end of March.  Eek!!  It's getting real - exciting and a bit scary, but I think I'm ready this time.
> 
> I work in IT at a busy hospital system, where I will mark my 12th anniversary a few days prior to my last workday.  In a meeting with my Manager the other day, he asked if I was getting closer to a firm retirement date.  We've had the discussion a few times, so he knew it was coming. I said that Yes, I finally had all my retirement papers processed, and I was going to submit my retirement notice at the end of February, for an end of March departure.  He said the sooner they know I am definitely leaving, the sooner they can recruit and hire my replacement, since I have a rather specialized position.  He also said if they could get my replacement onsite soon enough, I could do a face-to-face turnover.  I couldn't disagree with that logic.  So after the meeting I went to my desk and sent him my formal, official, "finally, it's time" retirement notice.
> 
> ...


Congrats!  Well-deserved! I have 22.7 more years!


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## Panina (Jan 25, 2020)

Congratulations!  No transition for me.  Was all smiles the day I retired and am still happy I did retire early.  I loved working, I just love not working more.


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## DaveNV (Jan 25, 2020)

Panina said:


> Congratulations!  No transition for me.  Was all smiles the day I retired and am still happy I did retire early.  I loved working, I just love not working more.



That's kind of how I'm approaching things.  I do like my work, but I have things I want to do away from there.  The joke I've been telling everyone is that "work is getting in the way of my time off." 

Dave


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## SteelerGal (Jan 25, 2020)

Congratulations


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## pedro47 (Jan 25, 2020)

Retiring in March 2020 will give you four (4) paid federal holidays to enjoy without going to work.

Congratulations, you earn it. Enjoy every year, month, day, hour, minute, second and moment. After March 2020 everyday will become Saturday and Sunday. 
Retirement is difference and will be difference for you.  *Now* you will need to do something difference: every year or month or day liked taking long timeshare vacations or cruising. 

*Plus after March 2020 you will not have to think about any IT issues or employees on your Job.  Congratulations.  Please enjoy your Retirement.  

Retirement is great and fun; especially when you are on a timeshare vacation chilling with someone Special.  *


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## WinniWoman (Jan 25, 2020)

DaveNW said:


> That's kind of how I'm approaching things.  I do like my work, but I have things I want to do away from there.  The joke I've been telling everyone is that "work is getting in the way of my time off."
> 
> Dave




Yup- there’s no time to work!


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## pedro47 (Jan 25, 2020)

DaveNW said:


> Not really, since my days for the next several months will be spent working on our house.  There are some "involved" projects I've been waiting to tackle - replacing some flooring, painting inside and out, upgrading the HVAC, replacing some failed window seals, adding a second-story deck off an office bedroom, new landscaping, other things.  The bigger projects I'll be supervising the contracted workers on, the lesser ones I'll do myself.  But they're all "daytime, Monday through Friday" kinds of things that I've been unable to do while working full time.  The goal is to get the house in tip-top condiiton, so when we cash out in a few years we can maximize the return.
> 
> And then, when the chores are done, there's that fishing pole that's sitting in the garage, feeling lonely and ignored.  I may spend some time getting reacquainted with it.  I'm not a golfer, but I do enjoy having a well-developed "hook" shot.
> 
> Dave



*I like it; you are busy and that is good for the mind, body and soul. LOL      
The computer is not problem.*


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## Talent312 (Jan 25, 2020)

For the first few months, I'd check up on stuff at work and talk to office staff. I'd check my office email (still active at the time) to see if anything "important" was going on, as if I'd have anything to say about it. After about 6 months of that, I let go and moved on. I haven't given it a second thought since.

I have two photos of the gang from work at home, but I I only look at them maybe 2x a year -- _those were the days._

I still get up about the same time, but now, I make coffee and just noodle about in my robe. I watch a little TV, and if I feel like it, tackle a project. My pharmacist asked me if I wasn't bored, and I said, "There's no finer feeling than to be free at last."
.


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## DaveNV (Jan 25, 2020)

Talent312 said:


> For the first few months, I'd check up on stuff at work and talk to office staff. I'd check my office email (still active at the time) to see if anything "important" was going on, as if I'd have anything to say about it. After about 6 months of that, I let go and moved on. I haven't given it a second thought since.



I think since I work for a hospital, they'll shut off my email on the day they take away my security badge to get in the door.  It's a HIPAA thing. Coworkers who need to reach me know my cell number, but the rest of it can go to my replacement.

Dave


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## WinniWoman (Jan 25, 2020)

DaveNW said:


> I think since I work for a hospital, they'll shut off my email on the day they take away my security badge to get in the door.  It's a HIPAA thing. Coworker who need to reach me know my cell number, but the rest of it can go to my replacement.
> 
> Dave



For sure. I was in healthcare also. Even my husband being in insurance- they cut you off immediately. 

I guess for me- since I was forced out of my job- it was a different kind of feeling when I left my job from my husband's, who was so happy to get the go ahead from our FA and to do it a few months sooner than he planned. Don't get me wrong, I was relieved to be out of the situation I was in and of the rat race in general. It just wasn't really on my own terms.

Another thing- and this might be more of a woman issue than a man's-I am not sure- the one thing I miss is social interaction- another reason I knew we had to move. My husband can take it or leave it, but not me. We are both borderline introverts, but I need to connect with other people here and there. If we stayed in our home in the woods we would not have all the stress we are having now, but down the line it would not have made for a good retirement, or at the least it would have been harder to carve out something we would both be happy with over the years.

If you have that in the bag also, along with your honey do lists and traveling you are in for a wonderful future. I will bet you will run out of time every day! LOL!

We were just up at the new house this past week to do a few little things and met the HOA treasurer and also spoke with some workers that came to our house to do some repairs, plus scanning the lay of the land going to the stores(very convenient), taking a walk, and so forth, and it reinforced that we made the right decision to move there. Our son even stopped by on his lunch hour for a few minutes- that was worth a million bucks to me! It will offer some social contact- even if it is just waving to someone or saying hello at the mailbox, lots of nearby activities and restaurants and cultural things and so forth. Right now I don't even care about traveling or our timeshares- just the new house and the fact it is in a tourist area satisfies that need for now. 

Dave- I think you have thought this whole thing out very carefully so I have no doubt you will be lovin' life! Again, congrats!


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## HitchHiker71 (Jan 25, 2020)

DaveNW said:


> Leaving coworkers and work friends behind won't be terribly hard, either. I'm Facebook friends with a couple of people at work that I'm friends with away from work, and I expect those friendships will continue. Of my immediate co-working team (seven others), I'm only friends away from work with one, who also happens to be a near neighbor. The other six are fine and dandy at work, but I'm not likely to care a whole lot what they're up to after I retire, and I'm not FB friends with any of them. It sounds a bit cold, but it's really not. We have a great working relationship, but it kind of stops there. My 20-year Navy career taught me that coworkers come and go quickly, some without notice, as they transferred out or were medically removed from the workplace. I made fast friends with many other sailors, but as they left for other locations, it was a wish for "Fair winds and following seas" to them, and a warm greeting and "Getting to know you" to the new person who replaced them. Now, more than 25 years after Navy retirement, I only stay in touch with a handful of people I knew back then - and we went through some heavy stuff together. I expect it'll be the same with my current group of coworkers.
> 
> Dave



I’m not retired yet and am not anywhere close but I can identify with your assessment above on staying in touch with prior co-workers from past jobs. I too work in IT and the last job I was at prior to my current job had a 15 year stint. I regularly keep in touch with four out of roughly 100 coworkers in our central IT office location where I worked. I have many on LinkedIn and periodically reach out whenever I see anyone who switches jobs or gets a promotion, but apart from that I rarely speak with anyone outside of the four guys I still keep in touch with regularly. 

Last but most certainly not least, congrats on your retirement!  If you don’t mind my asking, are you retiring at full retirement age 67, or were you fortunate enough to retire early? 

We are both 48 and are socking away as much as we can in hopes of being able to retire early around age 62, but only time will tell if we are successful in our endeavors. 




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## SandyPGravel (Jan 25, 2020)

Wow, amazed to "know" someone that not only knows what a "computer operator " is, but also was one. That was my title for 29 years, now I'm an IT support specialist. Same job, same company, new title, lost benefits. 

Congrats on the retirement plan coming to fruition. I've got 15 1/2 years to go if I work until 67. DH is jumping ship in 3 years at 65. He's in the trades so much more physically demanding job. He says he can't wait for 6 Saturday's & a Sunday. His honey-do list is pretty long already too. 

Enjoy!

Gina

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## AnnaS (Jan 25, 2020)

Congratulations and well deserved!!! Enjoy!!!  You will have and find plenty of things to keep you busy!! You have a choice to pick and choose what and when 

Hubby has been home for health reasons for almost 13 years now.  I just recently retired from my 28 year part-time job in June.  I miss one or two people and miss that bit of work socializing.  Other than that, I enjoy not having my alarm set for 2:50 am the last 4 years (before that I had decent work hours).  My internal clock started to wake me earlier and earlier.  I was sleep deprived all day during these last few years. 

Sleep is still a bit of a problem (always has been) for me but I am much more relaxed.  I still set an alarm clock a few days a week since we babysit our grandchildren.  I do have more freedom/days off I can plan something.   I can visit my daughter in DE, stay overnight without having to worry if if I am working the next morning, etc. etc.  I don't have to worry how much vacation time I can take with or without pay.

I have worked since I am 13 - part time jobs, full time jobs in the city, two part-time jobs at once.  It was time to slow down a bit.   It has some great benefits. 

I hope that everyone reaches retirement age (whatever age is right for them) and has plenty of healthy years to enjoy life a bit more.


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## DaveNV (Jan 25, 2020)

WinniWoman said:


> For sure. I was in healthcare also. Even my husband being in insurance- they cut you off immediately.
> 
> I guess for me- since I was forced out of my job- it was a different kind of feeling when I left my job from my husband's, who was so happy to get the go ahead from our FA and to do it a few months sooner than he planned. Don't get me wrong, I was relieved to be out of the situation I was in and of the rat race in general. It just wasn't really on my own terms.
> 
> ...




Thanks, Mary Ann.  I've looked forward to retirement for a long time.  That it's finally here, (well, in two months), is a good thing.  I'm walking into this with my eyes wide open, and I think I'm ready for it.  The financial changes were the last thing I had to sort through, since I am cutting my income substantially.  But after getting things in place, I'm good to go with it.  Having this three-month trial period is also a great help, to make sure I can afford to be retired.  All signs are good.  I'm ready to do this.

Your situation is much different, since you had a lot of things fall on you all at once, and your stress level has been huge.  But once all this moving and packing and new house and so forth is behind you, you'll be able to dial things back to your new daily life, and things should calm down considerably for you.  I'm looking forward to your post that day, when you say, "I'm bored."  

Dave


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## pedro47 (Jan 25, 2020)

DaveNW said:


> I think since I work for a hospital, they'll shut off my email on the day they take away my security badge to get in the door.  It's a HIPAA thing. Coworkers who need to reach me know my cell number, but the rest of it can go to my replacement. .
> 
> Dave


When I retired, I retired. I do not call the office and I do not visit the office.  I do not want to read or heard anything about the office. I am retired. No more 6AM to 6PM. I am retired. Did I like my job? Yes! But, I am retired.

No more politics.

Once per month the military veteran on the job; we will keep together for lunch and no others are invited.


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## DaveNV (Jan 25, 2020)

SandyPGravel said:


> Wow, amazed to "know" someone that not only knows what a "computer operator " is, but also was one. That was my title for 29 years, now I'm an IT support specialist. Same job, same company, new title, lost benefits.
> 
> Congrats on the retirement plan coming to fruition. I've got 15 1/2 years to go if I work until 67. DH is jumping ship in 3 years at 65. He's in the trades so much more physically demanding job. He says he can't wait for 6 Saturday's & a Sunday. His honey-do list is pretty long already too.
> 
> ...




That's a hoot.  Yes, I started life in the Navy in 1972 as a Data Processing Technician (my job specialty), and that all started by learning how to be a Keypunch Operator. (Anybody else around here still understand Hollerith Code?  The holes in that IBM punch card are a language unto themselves. )  I then graduated to operating the computer system that processed all those cards I keypunched, and that led to learning to program in COBOL, the first of one of about a dozen computer languages I've learned over the years.  Too many computers, programs, languages, networks, and systems to remember since then, but here we are.  I'll be going out the door from my last IT position, as a SQL programmer and custom Crystal Reports writer.  For as much as things have changed, they've sort of stayed the same. 

Dave


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## DaveNV (Jan 25, 2020)

HitchHiker71 said:


> Last but most certainly not least, congrats on your retirement!  If you don’t mind my asking, are you retiring at full retirement age 67, or were you fortunate enough to retire early?



Thanks very much.  Those who work in IT can understand and appreciate all the afterhours work that happens, with system upgrades and server failures and so forth, where "9 to 5" is a dream for a perfect working world, which rarely happens.  I will not miss those 2:00AM phone calls, and all the times I carried a pager so they could reach me anywhere I happened to be.  

For the record, I am 66.  Full retirement age for me was my last birthday. So yes, I'm "of a certain age" that equals full retirement age, without penalty.  Social Security started last Fall, along with some other things.  That is part of why I've been able to dial in my retirement income to a known number, while still working full time.  The "practicing to be retired" financially was a really important thing for me.  I didn't want to quit working and find I couldn't afford to live on my retirement income.  My Mother did that, and she had to go back to work.  Then she was suddenly diagnosed with terminal cancer, and died 35 days later. That will NOT happen to me. When I retire, it'll be for good, for however many years I have left, hopefully several decades from now.  Cross your fingers!  

Dave


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## Fredflintstone (Jan 25, 2020)

Congratulations Dave! Well earned!

At 55, I have decided to faze out. Starting in April, I am moving to a free lance part time practice. My only contract will be with the Federal Government. They were a long time client with my firm and my firm allowed me to keep them. This is actually the first time I am my own boss in a sense. I’m looking forward to it. I will play my exit by ear. I love what I do even though it’s a contract pusher. I can do the work anywhere I have wifi now with the odd travel requirements. I won’t miss one thing though...at times I would put in 16 hour days for long stretches.

I have to say my firm is wonderful. I am grateful to them and told them I will be there if they are in a pinch if they run into any snags with my corporate client case load. I will do my best though to make sure their files transition smoothly.

I have had a great Ride too. I went from High School teacher to law. Both careers were rewarding and I look back with pride. It sounds like you are the same. Although great work memories were had, it’s time to write a new chapter. May your new chapter be better than all the other chapters written. 








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## Krteczech (Jan 25, 2020)

Congratulations! Since we retired two years ago we have not had time to think about work yet. Travel, Tax aide volunteering, downsizing and remodeling.... you will not regret. Enjoy your new lifestyle!


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## WinniWoman (Jan 25, 2020)

Fredflintstone said:


> Congratulations Dave! Well earned!
> 
> At 55, I have decided to faze out. Starting in April, I am moving to a free lance part time practice. My only contract will be with the Federal Government. They were a long time client with my firm and my firm allowed me to keep them. This is actually the first time I am my own boss in a sense. I’m looking forward to it. I will play my exit by ear. I love what I do even though it’s a contract pusher. I can do the work anywhere I have wifi now with the odd travel requirements. I won’t miss one thing though...at times I would put in 16 hour days for long stretches.
> 
> ...




Congrats to you as well!


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## PrairieGirl (Jan 25, 2020)

Congratulations Dave!  For me, once I finally did retire I wondered why I hadn't done it sooner.  Transition time?  Nano seconds. You don't recognize how sleep deprived you really are until you actually get some sleep!  And I often find myself now saying "how did I ever find time to work"? because my days are relaxed. That is actually a bit tongue in cheek, because when you have to get "stuff" done, you just do.  But I certainly do NOT miss doing laundry at 5:30 am before heading to the office.  And what I really love is that no one is looking to me to make decisions any longer.  Enjoy your new life!!!


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## geist1223 (Jan 25, 2020)

Patti and I retired a little over 7 years ago. Shortly after retiring we did a month long trip to San Jose del Cabo. Felix gets me up between 4 and 6. He really does not need to go out. He is just lonely. So I get up. We walk around the front and back yard. He might do his business. Then to the TV room. Felix curls up and goes back to sleep. He now has company. Sometimes I nap sometimes I start reading the News online. Twice a day I read BBC, CNN, FOX, and at least one local news outlet. Patti gets up between 7 and 8 am. We work in the yard and/or house for 2 to 4 hours per day. I take Felix for a long walk every day.

A couple months after we retired I remember how a friend asked us where we were volunteering. I said no where. Did not feel the need. The friend volunteers so much she has to schedule her trips and arrange for replacements just like she was working. Now Patti volunteers 1 day per week helping take care of Bush Park across the Street. I help out twice a year helping set up their large plant sales. Patti also volunteers for St Francis. The only true family shelter in Marion County. This is mainly the last 30 days leading up to Christmas. I help out as needed. Such as recently they need to do a Dump run to clean out an apartment that had been trashed. It helps having a big Crew Cab Pickup.

So Dave kick back and enjoy. There is no rush. There is always tomorrow.


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## DaveNV (Jan 25, 2020)

geist1223 said:


> A couple months after we retired I remember how a friend asked us where we were volunteering. I said no where. Did not feel the need. The friend volunteers so much she has to schedule her trips and arrange for replacements just like she was working.



I understand.  A friend retired from nursing about ten years ago from the hospital where I work.  He turned around and started volunteering two days a week at the hospital, helping people find their way, and answering questions and such.  Now I think he volunteers four days a week.  Just too much, I think.  But then, he was invested in working there for many years, and I don't think he was ready to give it up when he retired.  I plan to stay busy doing my own things.  I know there are many projects I've been putting off till retirement - now I won't have any excuses.  

Dave


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## SandyPGravel (Jan 25, 2020)

now I won't have any excuses. 

Careful DW has that in writing now! 

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## Luanne (Jan 25, 2020)

I've told this story before, but when dh and I retired we were literally on the road the day after he left his job.  We drove from California to New Mexico to move into and settle into our new home.  I was technically still working through the end of the year, but without internet at our home I wasn't able to do much.  We were in a timeshare the first week while waiting for our furniture to arrive. So we were up early every morning to go up to the house and wait for delivery of appliances and such.  Furniture was delivered on Thanksgiving day.  We took the next day off to play tourist, then went back to "work" again.  So for the first few weeks of retirement we were quite busy just getting settled.


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## klpca (Jan 25, 2020)

Many congratulations Dave! Enjoy!


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## Glynda (Jan 25, 2020)

Fantastic!  Congrats!


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## Sugarcubesea (Jan 25, 2020)

Dave,

congrats I’m so happy for you. I’m going to take a play out of your playbook. I like the idea of living off your retirement money before you retire to ensure it works.
I’m hoping I can retire when I turn 65, but I will see how the finances are at that snapshot.

I have 6 years and 9 months to go


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## DaveNV (Jan 25, 2020)

Sugarcubesea said:


> Dave,
> 
> congrats I’m so happy for you. I’m going to take a play out of your playbook. I like the idea of living off your retirement money before you retire to ensure it works.
> I’m hoping I can retire when I turn 65, but I will see how the finances are at that snapshot.



Thank you!  Feel free to take any ideas I've offered in this thread.  I'm not an expert at this, by any stretch, but I'm a pretty practical kind of guy.  This just seemed like a really good thing to try and do.  When the retirement funds kicked in together, I figured it was a good test of my preparedness to live on my retirement.

I also feel fortunate to have the opportunity to do this.  If something comes up, I'll have the regular income waiting in reserve.  So far, it seems to be working, despite having to buy a set of tires for my spouse's car, after we discovered a major tear in the sidewall of one.  The tires were ten years old, so it was best to replace all four.  But even with that unexpected expense, I didn't need to touch that savings account, and I'm still on track with things.  Life presents curveballs, and this was one.  So far, I'm batting 1000. 

Dave


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## artringwald (Jan 25, 2020)

Smart move! I still get up at the same time, but if I don't have any morning plans, I have a cup of coffee, read the paper, catch up on email, and take my morning nap. Sometimes there's an afternoon nap too. I started riding my bicycle more, and as my former coworkers saw how much fun I was having, they started retiring early too. In the summer, there's as many as 12 of us that ride our bikes on a different route each week, usually to a lunch destination with adult beverages. It the winter I take free classes from Coursera.org. Since I was a software developer, I enjoyed the Computational Investing class. Certainly, the most entertaining class was The History of Rock and Roll. They offer classes on a wide variety of subjects, mostly taught by university professors. Since it's free, you can skip the homework or even drop out if you don't like it.

Enjoy you're retirement, and I'm sure it won't take you long before you wonder how you ever had enough time to work.


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## TheTimeTraveler (Jan 25, 2020)

Hi DaveNW;

Congratulations on making the big "D" (decision).  For some folks taking the time to make the actual decision to pull the trigger can be difficult.


A few things I have found; 

1).   Every day is a Saturday.  
2).   No rush or timeframe to do anything;  stress is a thing of the past.
3).   Take a nap whenever you feel like it. 
4).   Watch what and when you eat;  always tempting to snack during any idle time (potential weight gain).
5).   You may end up having less free time than you thought you would (lots of honey do projects).
6).   The miles I used to drive have gone way down without my commute.
7).   I make sure I am not on the road during "rush hour" times during the morning and afternoon; plan ahead.
8).   You'll have plenty of time to go on TUG.....



My spouse did tell me that I snore a lot so my PCP suggested a sleep study, and determined that I needed a CPAP machine.  Now I sleep better than ever and roll out of bed whenever I feel like it.

You have many years of retirement ahead of you;  enjoy every single minute of it   



.


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## Luvtoride (Jan 26, 2020)

WinniWoman said:


> As you know I’ve not worked since Sept. 2018. I had no issues transitioning as my personality is such that I am always busy doing something, even if it is just reading. Then, of course, the whole selling, buying and renting house thing came along and have been in a flux ever since and not settled yet. I used to get up at 4 am each day before work to do stuff, including exercise, but I quickly adjusted to the seasons. Right now get up at 7am when the sun is up and go to bed around 10 or 10:30, though I do not sleep well at all. In the summer I know I will be up with the birds.
> 
> For my husband, who just retired before the holidays, it’s been hard because we are in limbo in the rental house and he does not have much to do- and that is an understatement. We both are just “ waiting” around to move. This said, for us it has been too many life changes at once. The downsizing of a majority of our earthly possessions, house selling and buying thing, living in this rental out of boxes and the huge expense of it, his retirement and all the logistics of that process with his company, no livable pension coming in and not taking SS yet, dealing with the heath care insurance system- Medicare for him and regular insurance ( and maybe ACA soon) for me. Major overload for me who handled the majority of all of it while hubby worked.
> 
> ...



WOW, WW that’s a lot of things to consider and think about. May I ask what prompted each of your retirement timing decisions if you didn’t feel financially secure yet and ina position tobcollect SS yet? Hopefully Its not health issues (sorry if i haven’t followed your previous posts). 

I’m obsessed with thinking about and planning if I can retire in the next year or 2. My wife and I are both turning 63 this year and she retired 6 months ago. We are fortunate that we both have pensions but still filling the GAP in income from 2 salaries and before SS is a bit scary. 

Another important point that many have raised here is about having a plan as to how to spend your days in retirement. That is not a minor consideration and needs almost as much thought as the financial side. 

This is a great thread and I am envious of most of the members here touting their happiness in retirement! Great for all of you and Congrats Dave on pulling the trigger after much thought! 

Brian 


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## slip (Jan 26, 2020)

Congratulations Dave!! I know it was a long time coming and with a couple of hiccups but you made sure it’s right now. Well Deserved!!

If your wife retires early too you will have some travel threads to post. Enjoy!!


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## heathpack (Jan 26, 2020)

I am jealous.


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## A.Win (Jan 26, 2020)

I find the financial part of retirement to be stressful. I am too greedy to accept a safe 2% return. And I would be angry that others are making much more than me.

On the other hand, a bear market can bring losses of 20% or more, which would represent several years of wages lost.

As few people have pensions and social security is not a certainty, managing money is such a gamble these days.


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## artringwald (Jan 26, 2020)

DaveNW said:


> Thanks very much. Those who work in IT can understand and appreciate all the afterhours work that happens, with system upgrades and server failures and so forth, where "9 to 5" is a dream for a perfect working world, which rarely happens. I will not miss those 2:00AM phone calls, and all the times I carried a pager so they could reach me anywhere I happened to be.


Back in the 80's, I was the systems manager for a VAX 11/780, in addition to my job as a software developer. My wife still grumbles about the affair she thought I was having with VaxAnne. She wasn't sad at all when the lab hired a full time systems manager.


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## pedro47 (Jan 26, 2020)

Retirement is great and can be awesome, but you must plan for it. Because if you work long enough and live long enough you will retire.


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## Brett (Jan 26, 2020)

congratz
welcome to the "everyday is Saturday" world


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## Dori (Jan 26, 2020)

Congratulations! Enjoy every moment, and every new adventure!

Dori


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## artringwald (Jan 26, 2020)

Brett said:


> welcome to the "everyday is Saturday" world


Except for Sunday when the fat paper comes.


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## WinniWoman (Jan 26, 2020)

Luvtoride said:


> WOW, WW that’s a lot of things to consider and think about. May I ask what prompted each of your retirement timing decisions if you didn’t feel financially secure yet and ina position tobcollect SS yet? Hopefully Its not health issues (sorry if i haven’t followed your previous posts).
> 
> I’m obsessed with thinking about and planning if I can retire in the next year or 2. My wife and I are both turning 63 this year and she retired 6 months ago. We are fortunate that we both have pensions but still filling the GAP in income from 2 salaries and before SS is a bit scary.
> 
> ...




Well for me I had planned to work until age 65 so I could go on Medicare. Either that or hubby would have maybe stayed on his job until he was 67 so I could be on his employer health plan and also continue to bring in a paycheck. Not that I wanted to work until 65- I really was burnt out and tired of the schedule of work, though there were certainly some things I liked about it.

Unfortunately, there were changes in management in the workplace and to make it short- I and other long time employees were forced to resign, with no severance packages or anything like that. Small company- no pensions. Meanwhile, hubby was more and more expressing each day how he wanted to retire. He was getting tired of the commute and again- the schedule of work day in and day out. I am 63 and he is 65.

Soooo...last February I interviewed several financial advisors and chose one- an independent that is a fee only and does not manage your assets- just is paid for his advice and planning.  We had decided at first that hubby would retire at age 66 (his FRA for SS), which is this upcoming April. But the FA said that of he wanted to, he could retire sooner.

Meanwhile, we had intentions of moving out of state at some point (and were considering a lot of different options for that) after my husband retired and the FA told us to check with some realtors to see what we could get for our home, so we interviewed a few of them also. After the long winter last year, we also made a couple of appts to go up to our state of choice- NH- to see some real estate and take a mini break for a few days. Checked out independent living cottages way up north there and a development in the lakes region, where we preferred to live.

But we were not ready yet, of course. That said, it really bothered us that we could not move forward. We felt we were getting older and were tired and, living in a very rural setting in isolation, we were ready for a change of lifestyle. We really liked the new construction development and location that we had seen in NH (nothing else like it in the state and at our price point) and I was very sad that we were not in a position to buy yet- or so we thought.

Thanks to TUGGERS when I expressed my feelings about the situation, on THEIR suggestions, I called our FA a week after that visit to NH to see if there wasn't some way we could buy the new construction home before our current home was sold. To our surprise he said to go ahead and buy it and not worry about our house selling as it eventually would and we could float some of our money or maybe even get some kind of temp. investment loan or something like that. Elated, I contacted the realtor for the new house, contacted a chosen realtor for our current house, and the following weekend we were up in NH signing papers and our current home was listed the same day. The next day on our way back to NY, the people who were to become the buyers of our house were there looking at it!

I immediately- that same day we got home from NH- started the downsizing process- listing our possessions on Facebook Marketplace. Our porch furniture was taken that very night we got back! We accepted the offer on our current home two weeks after the buyers looked at it.

We closed on our NY home on 9/30, moving on 9/27 into the former home of the people who purchased our home! They needed renters in order to qualify for the mortgage and we needed a temporary place to live until hubby retired so we in essence swapped homes! Costing us a fortune to live here but at least we have a 6 month lease- not easy to get. We have paid through February and unless they can get another tenant will be responsible for March as well. Money flying out of our accounts like crazy. But it is a 900 square foot home from the 50's and we are living out of boxes and really tight quarters. We joke how it is good practice for living in our small retirement cottage, but at least our new home has a small driveway to shovel/snowblow snow. Here there are two driveways (one a 4 car and one a 2 car) and half a steep private road that we are responsible for the snow removal! UGH...

Because the new house was supposed to be done by 11/1 (which it turns out it wasn't and we didn't close on it until 12/31 (and it is still not totally done- but that is another story)), we wanted hubby to retire sooner, like in the Fall, but the process was very overwhelming. He had Medicare Part A, but now needed B and SS needed a certain form from his employer to get him on that (another process when you work for a large national company), so I had to bring it to the SS office 45 minutes away for that, and come to find out if he retired the end of the year and receiving the money in January (which he did officially retire on 12/31) he would get more money (due to an interest rate change or something?) in his lump sum pension (which was cut off at the knees years ago as the company went to a stupid cash balance plan- even after promising older employees that would not happen). Him taking the annuity monthly pension amount would be nothing to live on, which is one of several reasons why we chose the lump sum instead.  There was a process for the rollover for that as well, as our FA wanted a Brokerage IRA set up for hubby (for more flexibility with investments) and he only had IRA mutual funds with a mutual fund company. So I had to get that set up for him as well to accept the money.

We are leaving his 401k at the company for now as he gets a match in February and we will deal with whether to roll it over to his IRA account or not later. It is invested in a Stable Value Fund which is not available in the private marketplace, but I am certain there are probably big fees involved in a 401k as is usual, so will have to investigate more when I have the time.

I had a 401K also, but I did roll it over to my IRA. It was not that large as I only contributed like 5% to it, (my husband also contributed just 5% for most of his working life- bumping it up a bit more in the past couple of years) and did Roth contributions as well. Both hubby and I were not high earners- just average - below 6 figures- but we saved as much as we could - in Traditional and Roth IRA's-and consider ourselves pretty frugal- but not crazy frugal. I inherited some money from the sale of my parents home- split with my brother- and my mom's IRA account- which I have to take a small RMD's out of every year.

The next step was getting hubby on a Medicare supplement and Part D plan, which he had to go through a broker his company uses to qualify for a $60 monthly HRA employer contribution. A nightmare in and of itself and too long a story.  And then, of course, there was the issue of health insurance for me, which right now I am on his retiree medical at $545 per month for a high deductible plan! The FA wants me to go on an ACA plan when we move as we are currently living on our cash savings, which is freaking me out.

When I tell you dealing with all this involved more time and logistics than you would think would be an understatement. Plus building a new construction house long distance. I handled it all as my husband was commuting and working all day. Getting used to being renters for the first time in our lives and living out of boxes in our 60's. I have been crying for months.

To think, we have to go through this whole process again in 2 more weeks when we finally move to our new home. Changing addresses took me 6 hours to do on this last move. Then we have to get new health insurance for both of us. Not easy. I dread it.

I have also worked on getting medical records sent to the new state- where we had to immediately get a doctor for hubby who is on high blood pressure meds. Not as easy as it sounds. Lots of docs not taking new patients or Medicare or even my insurance. Try to get a recommended doc- oh well- no new patients. Ended up taking a crap shoot for a new doc in a practice. I am still trying to get my records sent from my current doc in NY, who just merged with another practice and his office is in a flux. So I have yet to get an appt with the new doc in NH for myself.

So back to the financials- our FA told me to use our cash savings for now to live on until we move and the dust settles. Right now I figure we are good until June at least. We have a signed agreement with him for this year so he will work with us to get us through. He insists we do not take SS until age 70 and he insists we try to get our tax deferred account balances down (with some Roth conversions) as much as we can as to avoid at least a little bit of the tax torpedo that people incur when they are required to take RMD's at age 72 (or if they need to before). He is taking taxes into account and wants me to go on an ACA plan with subsidies which would involve keeping our income very low on paper. I am still nervous about everything with not having a paycheck coming in and watching our savings account dwindle is so scary to me..

Not only using the money to live on for everyday expenses, but we have so many other expenses with the new house- this little cottage didn't cost that much less than what we sold our home for so we have limited funds left from the former house sale to play with. I just keep withdrawing money and writing out checks and I cringe when I have to look at our savings and checking accounts. But- I have to have faith in this FA we hired to get through it.

So- this has been my- our life so far in retirement. We did get to go to our timeshares this summer and Thanksgiving week (where we got to see our house in person for the first time!) and we were able to squeeze in a planned trip to Utah in Sept. right before we moved into the rental and closed on our NY home, thankfully.

But very little-social life since I retired. Maybe two or three lunches with a friend since 9/'18., and a dinner with 2 former coworkers- again in 2018-  and 2 annual friend reunions. 2018 Thanksgiving with my brother and his family. You can see there were so few of them I can remember them easily.

That is why we chose the development to live in in NH. It is not a 55+, but it is like that. Not an ACTIVE adult community with endless activities scheduled, but the residents do plan some parties and activities throughout the year. Some evenings they might get togather for a card game. A senior daytime bowling. Stuff like that. There is a clubhouse and a pool and as I mentioned this is in a tourist area so a lot to do right nearby and we can also walk to the boardwalk/beach/lake. It is quaint and very New England, yet like something you might also see in Florida. HOA does the tiny lawns and plows the private road and covers trash.

So this is just what it takes I guess, but certainly not how I envisioned retirement to be so far. It has been a long drawn out process.

The good news is- we ARE retired and we did get our little retirement cottage in the area we wanted (which is near where our only child lives as well) and ,God willing, will be moving there in 2 weeks!  And- we are so far healthy for the most part and that is priceless.

At some point hope we will look back on this all and laugh, but right now not so much. Sorry this is so long but I wanted for you to get the whole picture. The retirement process for us has not been easy but we are hanging in there.


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## bbodb1 (Jan 26, 2020)

artringwald said:


> Except for Sunday when the fat paper comes.


That is quickly becoming extinct in these parts...
Home delivery of a newspaper


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## CalGalTraveler (Jan 26, 2020)

Congrats Dave. Well deserved. I am jealous. Would love to retire but have two kids in college and 7 years to Medicare eligibility. Have slowed down my schedule though. As a business owner, and recently added a part time encore job, so I am not sure if I will ever retire 100%.

However my DH and I frequently talk about cashing out our California home and downsizing to Nevada. I can work from anywhere but DH job and my encore job prevent us from moving for now. Several of my colleagues with similar businesses have kept their business in Calif. but moved their home to Wash, Oregon, Idaho, Arizona and Nevada. Zoom and cheap Southwest flights are their friend. However the incentive is to do more remotely, because they must log every day they work in Calif. as Calif. high tax income.


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## Luvtoride (Jan 26, 2020)

WinniWoman said:


> Well for me I had planned to work until age 65 so I could go on Medicare. Either that or hubby would have maybe stayed on his job until he was 67 so I could be on his employer health plan and also continue to bring in a paycheck. Not that I wanted to work until 65- I really was burnt out and tired of the schedule of work, though there were certainly some things I liked about it.
> 
> Unfortunately, there were changes in management in the workplace and to make it short- I and other long time employees were forced to resign, with no severance packages or anything like that. Small company- no pensions. Meanwhile, hubby was more and more expressing each day how he wanted to retire. He was getting tired of the commute and again- the schedule of work day in and day out. I am 63 and he is 65.
> 
> ...



WW, thanks for the very detailed REAL LIFE considerations which are needed to deal with when retiring.  Yes, it sounds like much was complicated by the move to another state, both logistically and financially.  I truly hope that your new home/ community is exactly what you expect it to be and gives you the joy and social interaction that you are expecting.  

Health issues and insurance coverage are certainly a significant consideration for retirement.  Feeling "boxed in" until reaching full medicare eligibility is a REAL concern and needs to be planned and calculated into the financial equation. Luckily, both my wife and I have medical coverage available to us in retirement BEFORE medicare kicks in and at a cost, but better than ACA options.  

I'm glad to hear you hired a fee Financial Advisor to help you with your planning.  My only question is why does he "insist you not take SS until age 70".  I understand the concept of maxing out your benefit up to age 70, but it sounds like without other sources of regular monthly income, that strategy should be reconsidered.  Without getting personal about your specific finances, will your non-qualified savings be enough to last until you both reach that age?  Perhaps you should discuss with a certified Social Security consultant about the best strategy to use.

Best of luck with the move and finally being able to enjoy Retirement.  Keep us posted as to how it goes!
Brian


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## Timeshare Von (Jan 26, 2020)

DaveNW said:


> That's kind of how I'm approaching things.  I do like my work, but I have things I want to do away from there.  The joke I've been telling everyone is that "work is getting in the way of my time off."
> 
> Dave



HERE HERE! Some of my favorite work times was when the gig ended and I was unemployed for months. (In one case over 15!)


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## Luvtoride (Jan 26, 2020)

CalGalTraveler said:


> Congrats Dave. Well deserved. I am jealous. Would love to retire but have two kids in college and 7 years to Medicare eligibility. Have slowed down my schedule tthough. As a business owner and recently added a part time encore job, so I am not sure if I will ever retire 100%.
> 
> However my DH frequently talk about cashing out our California home and downsizing to Nevada.



Cal Gal, At least starting the conversation is a step in the right direction.Someone once told me that "you will know" when the time is right to retire.  I'm not sure that this is completely true with all of the moving parts you need to consider (see Winnie's posts above) but I get the point that mentally and emotionally it becomes clearer.  
Best of luck with your planning.


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## WinniWoman (Jan 26, 2020)

Luvtoride said:


> WW, thanks for the very detailed REAL LIFE considerations which are needed to deal with when retiring.  Yes, it sounds like much was complicated by the move to another state, both logistically and financially.  I truly hope that your new home/ community is exactly what you expect it to be and gives you the joy and social interaction that you are expecting.
> 
> Health issues and insurance coverage are certainly a significant consideration for retirement.  Feeling "boxed in" until reaching full medicare eligibility is a REAL concern and needs to be planned and calculated into the financial equation. Luckily, both my wife and I have medical coverage available to us in retirement BEFORE medicare kicks in and at a cost, but better than ACA options.
> 
> ...




I have asked him about this several times-again recently in fact when we just met with him. He said no where will we get 8% returns on a safe investment like SS. That to think of it as an insurance policy. (which I have always said it is like an annuity).

He is using a tax advantaged strategy- for us to take money from taxable accounts first- and even some from tax deferred accounts- as well as a few small Roth conversions. Stay under the income qualification limit for ACA subsidies as well for me (I turn 65 June- 2021), We have a decent amount of money- but certainly not millions. I am not that smart with this stuff - especially when it comes to taxes- though I have done our taxes for many years- I depended on the TAX ACT software! LOL!

This year I already scheduled an appt. with a CPA in NH to do our taxes as I just can't handle it.

(My husband's FRA for SS is 66 and for me it is 66+ 4 months.)

So for me- it is so new- to live off the money we have saved all these years. I honestly don't get how it will last, and that is why we hired the FA. He uses the Monte Carlo plan and other things and has us living into our 90's to draw up the best case scenario. (I doubt we will live that long).

So as I said- though I am a worrier - I have to have faith that the FA knows what he is doing when he advises us. I don't get it and I am so tired of making decisions this year and dealing with everything I have to let go and let God as they say. (though definitely not my nature!)


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## Timeshare Von (Jan 26, 2020)

This thread and all of the conversation is really helpful to me as I continue my "planning" towards May 2024 (when I'm 66.5 and at full retirement age).

If it weren't for the high cost of medical insurance for me and my DH, I would probably consider retiring now, living on our IRAs until I can go on Medicare and file for full SS benefits. But given our current medical insurance (just a mediocre silver plan) is costing us $1,800/month . . . quitting before Medicare (at least for me) ain't in the cards.

I have considered going on some sort of limited hours/work plan at some point prior to May 2024, which would afford me the opportunity to do some extensive summer travel (like camp-hosting in a state or national park). My board president is open to it, and it would serve their purpose during a slow time of the year, to reduce payroll.

My DH hasn't worked since we married (nearly 18 years ago) although he is younger than me. So his "timing" is really more about when we sell this house in Wisconsin, or more accurately, buy something somewhere else. I will admit, renting as a lot of appeal as we look towards retirement especially since we don't have children/grandchildren to worry about leaving assets to.

I wonder how many people have done that exercise/calculation of buy vs. rent in retirement? Thoughts . . . experiences . . . pros/cons?


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## CalGalTraveler (Jan 26, 2020)

Luvtoride said:


> Cal Gal, At least starting the conversation is a step in the right direction.Someone once told me that "you will know" when the time is right to retire.  I'm not sure that this is completely true with all of the moving parts you need to consider (see Winnie's posts above) but I get the point that mentally and emotionally it becomes clearer.
> Best of luck with your planning.


Good point. I was called frequently by recruiters when I worked in Corporate America, however the opportunities did not feel right. When I left the time was right. In hindsight I should have left to start my company 5 years earlier - more money, more control over my schedule...

I now worry that health problems will prevent us from enjoying travel etc. when we eventually retire. We are making a priority to travel now but limited by vacation time off. Our biggest perceived limitation is healthcare. If Medicare was available to 55 or 60 I would retire.

Is there a way to estimate the cost of healthcare during the gap years to Medicare?


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## WinniWoman (Jan 26, 2020)

CalGalTraveler said:


> Good point. I was called frequently by recruiters when I worked in Corporate America, however the opportunities did not feel right. When I left the time was right. In hindsight I should have left to start my company 5 years earlier - more money, more control over my schedule...
> 
> I now worry that health problems will prevent us from enjoying travel etc. when we eventually retire. We are making a priority to travel now but limited by vacation time off. Our biggest perceived limitation is healthcare. If Medicare was available to 55 or 60 I would retire.
> 
> Is there a way to estimate the cost of healthcare during the gap years to Medicare?



Well- for starters- of the ACA plans are still in place- you could go that route. You can go on the website and play around with the projected income and so forth and see what the prices are right now. For me- with an income of $24,000 per year, for example, in the state of NH, it would cost me like $40 per month for a senior plan. Larger incomes to $40,000- around $250 per month.

Again, this is on paper and dependent on a tax strategy you could work out so you have a lot more money to live on- in our case it is cash which is not considered income. Obviously, your account balance will go down as you withdraw, but no taxes on it. Or maybe even withdraw from a taxable brokerage account but just enough to keep your income low enough to get subsidies.

Or- the other option is a higher income expected and seeing what the premiums would be for that and I believe they will be high. Keep in mind also these plans are EPO's and HMO's- though every state is different. So when you go on the site- since you are planning to move to another state at some point, use the zip code where you think you might live.

Then there is always private insurance.......

As for health CARE itself- no one knows what is to be in life and what kind of care you will need and what it will cost. If you are getting care right now and on meds- you can probably figure it out from that standpoint but anything can happen at any time and cost Lord knows what.


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## DaveNV (Jan 26, 2020)

artringwald said:


> Back in the 80's, I was the systems manager for a VAX 11/780, in addition to my job as a software developer. My wife still grumbles about the affair she thought I was having with VaxAnne. She wasn't sad at all when the lab hired a full time systems manager.



That's funny, but not totally unheard of.  I trained and worked on a VAX system in the early 80s at a Navy shore command in San Diego.  We had several systems I rotated through in the computer center, but working the VAX was always my preference.  Very precise equipement.  I couldn't say the same for the Univac or Honeywell stuff we had. 

Dave


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## Timeshare Von (Jan 26, 2020)

WinniWoman said:


> Then there is always private insurance.......



Private insurance, with decent coverage is no bargain . . . at least not here in Wisconsin. Our policies are very expensive ($1,800/month) for a silver plan. It is $5,100 deductible and $8,150 max out of pocket . . . PER PERSON . . . with $50 PCP and $100 specialist copays . . . and 60/40 split on the co-insurance.


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## Fredflintstone (Jan 26, 2020)

Timeshare Von said:


> Private insurance, with decent coverage is no bargain . . . at least not here in Wisconsin. Our policies are very expensive ($1,800/month) for a silver plan. It is $5,100 deductible and $8,150 max out of pocket . . . PER PERSON . . . with $50 PCP and $100 specialist copays . . . and 60/40 split on the co-insurance.



My gosh. Forget disease and age illness....the cost alone will kill ya. That’s insane.


Sent from my iPad using Tapatalk


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## Timeshare Von (Jan 26, 2020)

Fredflintstone said:


> My gosh. Forget disease and age illness....the cost alone will kill ya. That’s insane.



No kidding. And some of the meds are barely covered . . . like Eliquis. WITH insurance, it's $455/month! I'm hopeful with the FDA's recent approval of a generic, the price will come down.


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## DaveNV (Jan 26, 2020)

Thanks again, everyone, for your kind thoughts and comments.  I've tried to keep things focused more inward as I've worked through this process the last few years. I didn't want to just reach retirement age, stop working, and decide then if I could afford to not work.  The time and effort has been worthwhile, and now I can move forward into retirement with a clear knowledge of what I should expect.  As pointed out upthread, retiring is not always an easy process.

I can see from some of your other examples that my situation is far from unique, but overall has been much simpler than many of you.  Retirement with planning is challenging for everyone, no doubt.  I encourage everyone to look forward, plan for the day when you'll want to stop working full time, and then think ahead for what you'll want to do after that.  Regrets?  I have few, but there are two:  Not starting a 401(k) back in my 20s, when I first learned what they were all about.  And Oh, if only I had taken the opportunity to buy Apple stock back in the '80s when it was around $25 a share.  It was so cheap!  I'd be a very wealthy man today.  Live and learn.  

In my case, planning for retirement was pretty simple - based on my working history I knew I had the usual income sources in place (military pension, Social Security, and some investment accounts.)  I could have retired with only those, and been okay.  The sticking point for me was a VA disability, due to the damage the military did to me.  After working through the VA system for several years, I finally (FINALLY!) resolved things at the end of 2019, and I was able to move forward.  So when I say "the stars aligned and I've decided to pull the plug," it wasn't without a lot of effort beforehand.  My delays in retiring sooner were all because of this unfinished business. I am glad to have it resolved and I can look ahead.  (Sidebar:  If you are a Veteran and have an injury or disability caused by your military service, start the conversation with the VA about compensation NOW.  They won't offer it unless you go through the process - and it is definitely a process.  If there is not a VA center in your area, contact the American Legion or DAV [Disabled American Vets] to see if they have a rep available.  It's absolutely worth the effort.)

Dave


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## WinniWoman (Jan 26, 2020)

Timeshare Von said:


> This thread and all of the conversation is really helpful to me as I continue my "planning" towards May 2024 (when I'm 66.5 and at full retirement age).
> 
> If it weren't for the high cost of medical insurance for me and my DH, I would probably consider retiring now, living on our IRAs until I can go on Medicare and file for full SS benefits. But given our current medical insurance (just a mediocre silver plan) is costing us $1,800/month . . . quitting before Medicare (at least for me) ain't in the cards.
> 
> ...



The whole medical insurance thing is a nightmare and the biggest hurdle for people who want to retire before age 65 in this country. I still say we should have moved to Canada- we are almost there as it is now. LOL!

If you can play around with your income on paper as I stated in my prevoious posts you could get ACA subsidies. But many people just can't. Their investments throw off too much income or they are getting pensions or have a business or do not have sufficient tax free cash to live on for a few years.

We went through that renting scenario with our FA as well.  Bottom line is he felt for us it was better to pay cash for a home- under $400,000- and preferably under $350,000. (our home cost us list price $249,900 and then with the so called upgrades (what a joke that is) the final was $274, 400+. We sold our former home for $317,000- but when all was said and done (you know how that goes- atty fees, town permit fees, other stuff) I figure maybe we ended up with $306,000 - $300,000- not sure.

FA said it was best also for our son  as it is a possibility for us to leave it to him depending on how our end of life goes.

HOWEVER- I have a friend who just bought a house using a reverse mortgage FOR PURCHASE. She, too, has no family -  no children or spouse- to leave a home to. I had never heard of this option before, but essentially she sold her previous home and put a nice chunk of money down on this new house and got a reverse mortgage for purchase for the balance so she could keep the balance of the funds from her previous home sale to live on. A novel idea! She is very happy with her decision.

Rents on the east coast are outrageously expensive. This old, little house on 1/2 acre (great area- I must say- horse farms and close to all conveniences and medical) is $1800 per month plus utilities plus must fill oil tank for heat and propane tank  for hot water and cooking plus having to take care of the two driveways and 1/2 of the steep private road and plus internet and TV and all that. And this is no luxury place either.

The FA figured we could probably afford up to $3000 per month(Unfathomable to me. We had a paid off mortgage and our high property and school tax bill in NY was still only $850 per month!)) for a rental depending on the terms,  but it would not be in our best interests to rent.

Then there is the issue as you do not own the place and you cannot do whatever you want with it in terms of remodeling and so on. But we did seriously consider it. Hubby hated the idea from the onset.


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## Fredflintstone (Jan 26, 2020)

WinniWoman said:


> The whole medical insurance thing is a nightmare and the biggest hurdle for people who want to retire before age 65 in this country. I still say we should have moved to Canada- we are almost there as it is now. LOL!
> 
> If you can play around with your income on paper as I stated in my prevoious posts you could get ACA subsidies. But many people just can't. Their investments throw off too much income or they are getting pensions or have a business or do not have sufficient tax free cash to live on for a few years.
> 
> ...



I agree with the health care. Being Canadian, I don’t need to factor in any major costs. My blue cross private will end up being 125 a month and that’s the premium plan. I get 30 days unlimited emergency travel health care on the blue cross plan too. Provincial Health Care pretty well covers any major risks.

Almost half my colleagues who are Americans and live in the US plan to retire in Mexico or Cost Rica so they can retire early without worrying about health care. 


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## Rolltydr (Jan 26, 2020)

bbodb1 said:


> That is quickly becoming extinct in these parts...
> Home delivery of a newspaper



I have all the fat newspapers I want every Sunday in my little iPad. All the words are still there. They just come in a different wrapper now. 


Sent from my iPad using Tapatalk


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## DaveNV (Jan 26, 2020)

WinniWoman said:


> Rents on the east coast are outrageously expensive. This old, little house on 1/2 acre (great area- I must say- horse farms and close to all conveniences and medical) is $1800 per month plus utilities plus must fill oil tank for heat and propane tank  for hot water and cooking plus having to take care of the two driveways and 1/2 of the steep private road and plus internet and TV and all that. And this is no luxury place either.



That's a bargain.  In my area $1800 a month plus utilities might get you a 2br apartment.  Freestanding houses rent for well over $2K a month.

That's one of the reasons we've decided to stay in our current home till my spouse retires. We've been looking, but it's absurd trying to downsize in our area - smaller homes are selling for much higher prices than we want to pay.  It makes much better financial sense to maximize the condition of this home, then cash out and move when we're ready.

Dave


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## Rolltydr (Jan 26, 2020)

DaveNW said:


> Regrets? I have few, but there are two: Not starting a 401(k) back in my 20s, when I first learned what they were all about.



Dave, I want to second the point you made about the 401k. I was about 30 before I finally started putting money in my employer sponsored 401k. I had resisted because I couldn’t withdraw the money if I needed it before age 59 1/2. My young, ignorant self thought, “It’s my money. I want it when I want it!” So, I missed several years of my own contributions, as well as, the employer match offered by my company.

Fortunately, in my early-mid 40’s, I started earning a salary that allowed me to put the maximum amount in my 401k for the last 12 years or so of my work life. I was actually able to retire at the age of 58yrs, 8 months because of that one decision. I had actually planned on taking SS at 62 or 66 but with both our pensions and my 401, barring any unforeseen catastrophes, I will be able to hold off until 70. My wife has a much better pension than mine, but my 401 was a lot larger than hers. I’m 65 and she just turned 66, and we’re doing great, so far. We haven’t touched her 401 yet.

So, for those of you who are still working, and young enough that it can still make a difference, I highly recommend putting as much as you can afford in a 401k. Even though I was late starting mine, it allowed me to retire several years before I thought I would/could.


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## WinniWoman (Jan 26, 2020)

DaveNW said:


> That's a bargain.  In my area $1800 a month plus utilities might get you a 2br apartment.  Freestanding houses rent for well over $2K a month.
> 
> That's one of the reasons we've decided to stay in our current home till my spouse retires. We've been looking, but it's absurd trying to downsize in our area - smaller homes are selling for much higher prices than we want to pay.  It makes much better financial sense to maximize the condition of this home, then cash out and move when we're ready.
> 
> Dave




Agree. And financially it would have been better for us to stay in our house as well, as we just recently updated the whole house. The little cottage we bought cannot compare with what we used to own. For us, as I mentioned, it was more of the lifestyle factor that needed to change, not to mention we do not like what is going on in NY and in the area we lived in specifically.


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## HitchHiker71 (Jan 26, 2020)

Rolltydr said:


> Dave, I want to second the point you made about the 401k. I was about 30 before I finally started putting money in my employer sponsored 401k. I had resisted because I couldn’t withdraw the money if I needed it before age 59 1/2. My young, ignorant self thought, “It’s my money. I want it when I want it!” So, I missed several years of my own contributions, as well as, the employer match offered by my company.
> 
> Fortunately, in my early-mid 40’s, I started earning a salary that allowed me to put the maximum amount in my 401k for the last 12 years or so of my work life. I was actually able to retire at the age of 58yrs, 8 months because of that one decision. I had actually planned on taking SS at 62 or 66 but with both our pensions and my 401, barring any unforeseen catastrophes, I will be able to hold off until 70. My wife has a much better pension than mine, but my 401 was a lot larger than hers. I’m 65 and she just turned 66, and we’re doing great, so far. We haven’t touched her 401 yet.
> 
> ...



I will reinforce this same message. I went to college for finance and securities analysis to learn about the power of compound interest and the time value of money over the long term (among other more complex analyses). Couple those concepts with wise investment decisions over a 30-40 year timeframe and a healthy financial retirement is achievable for many. 

I have repeatedly given my children one key example. If you were to save 10k per year into your 401k from age 25-35, and assume a ten percent compound annual return (which really isn’t a valid assumption any longer for various reasons, but for the sake of the lesson it works well), and then stop saving into that same 401k at age 35, and compare your 401k balance to someone who starts saving 10k per year into their 401k for the rest of their career starting at age 35, again assuming a ten percent annual return, the second person will basically never catch you despite the fact that they have to save for the rest of their working days. This is because of the power of compound interest and the time value of money. 

Technically toward the end of the 30 year window, the second person does finally eventually catch up - but the lesson is that the second person had to save 300k vs only 100k for the first person. The time value of money is a powerful concept. 

Unfortunately for my Gen X generation, we have no such thing as pensions to help us with retirement - so 401k/403b savings are pretty much all we have left to fund our retirement years. I hope to still have SS but even that I’m not certain will be there for us the way it is today 20 years from now. 

My wife and I are both 48, and we max out both of our 401k plans every year and have been for the past several years. I’ve been saving into my 401k since age 25 for the reasons I outlined above. At times I had to scale back from max 401k contributions to prioritize college savings and to account for my wife being a stay at home mom for the early parts of our child rearing years. 

With wise investment choices we hope to be able to retire around age 62. We have two investment properties and hope to add a few more to boost our income over the next five years, and we plan to pay off our home mortgage within that same five year period of time which will really help us in so far as monthly cash flow is concerned. Fingers crossed that everything we are doing gives us a leg up when our golden years approach! 


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## bluehende (Jan 26, 2020)

Rolltydr said:


> So, for those of you who are still working, and young enough that it can still make a difference, I highly recommend putting as much as you can afford in a 401k. Even though I was late starting mine, it allowed me to retire several years before I thought I would/could.




Perfect advice.  This is why I actually think the trend toward retirement accounts as opposed to a defined plan is a good thing.  With a good transition plan for those that are forced to transition to protect them.  I started putting away at 23 in my 401k and contributed all my life.  I retired at 51 because of that account.  That account is worth about 5 times the value of my pension for income today using the 4% rule.


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## DaveNV (Jan 26, 2020)

I'll absolutely agree with both @Rolltydr and @HitchHiker71.  In my 20s I was a lowly enlisted man in the Navy.  My income wasn't much, and I felt I needed every penny to live on each month.  The military in those days didn't say much about investing for the future, and there was a mentality of "My Navy retirement pension will take care of me."  Truth be told, that pension isn't all that great.  It helps, certainly, but it won't even cover the mortgage on my house.  So my regret is that I didn't start saving for retirement when I was young.  I can't change my own history, but knowing then what I know now, I'd definitely have made better choices.

Dave


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## Sugarcubesea (Jan 26, 2020)

Maryanne, I followed your story very closely because prior to the company I am at now, my company was just as yours was and I knew I had to find a new job or they would force me and everyone else that was over 50 out the door.  Thankfully I found an opportunity at a Japanese Company, which is known for hiring and  retaining the mature worker. I plan to stay hopefully at this company till 65.

I'm looking for a FA fee only this year, because ever thou I'm in Finance I want someone for verify our stats and spreadsheets to ensure we can retire.  The company I worked at for the bulk of my career had a pension but did not offer a 401K, when the company went bankrupt in 2009 (along with all of the other auto companies in Detroit during the great recession)  In 2011 when the company finally got through the bankruptcy process their pension plan was so underfunded that I will only get a sliver of what I was to receive...so knowing that now I will only receive a $110 a month pension ( I've been told that the number could even be less by the time I qualify at age 65) I knew that I had to readjust my retirement planning. 

I'm saving like crazy and being Uber frugal.

Can I ask how you found a fee only FA?


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## TheTimeTraveler (Jan 26, 2020)

bbodb1 said:


> That is quickly becoming extinct in these parts...
> Home delivery of a newspaper





So true!   And it's not as "fat" as it once was.....



.


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## Ralph Sir Edward (Jan 26, 2020)

My retirement target has been moved up to July 2nd (from end of year 2020). 

I have 18 months of bridge funds "In the bank", and plan on 18 months of COBRA to Medicare. (Expensive, but cheaper than ACA here)

The next question is whether or not I'll make it to July 2nd. My current contract is nasty, the commute is nasty (28 miles one way in high speed, heavy traffic. I call it 70 mile per hour bumper cars. . .) I don't like the management, and they don't like me. Either one of us may say "Here's the door, use it" at any time. . .


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## MULTIZ321 (Jan 26, 2020)

Sugarcubesea said:


> Maryanne, I followed your story very closely because prior to the company I am at now, my company was just as yours was and I knew I had to find a new job or they would force me and everyone else that was over 50 out the door.  Thankfully I found an opportunity at a Japanese Company, which is known for hiring and  retaining the mature worker. I plan to stay hopefully at this company till 65.
> 
> I'm looking for a FA fee only this year, because ever thou I'm in Finance I want someone for verify our stats and spreadsheets to ensure we can retire.  The company I worked at for the bulk of my career had a pension but did not offer a 401K, when the company went bankrupt in 2009 (along with all of the other auto companies in Detroit during the great recession)  In 2011 when the company finally got through the bankruptcy process their pension plan was so underfunded that I will only get a sliver of what I was to receive...so knowing that now I will only receive a $110 a month pension ( I've been told that the number could even be less by the time I qualify at age 65) I knew that I had to readjust my retirement planning.
> 
> ...


Hi Sugarcubesea,

Here is Barron's list of top financial adviors by state : https://www.barrons.com/report/top-financial-advisors/1000/2019.


Richard


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## geekette (Jan 26, 2020)

Congratulations!

You can set any routine you want from Day 1.  Or no routine, just goals.  Or no goals beyond R&R.  Fill your life with what you need, and a healthy dose of what you want, cut out what you don't need.   I find that limiting computer time is a big deal for me, easy to get sucked in.  I enjoy when I can noodle out some new whack storage solution and not have to be finished and all cleaned up by Sunday night.  Flexible deadlines help me accomplish the larger things easier, so I can do it right vs do it quick and clean.


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## Rolltydr (Jan 26, 2020)

geekette said:


> Congratulations!
> 
> You can set any routine you want from Day 1.  Or no routine, just goals.  Or no goals beyond R&R.  Fill your life with what you need, and a healthy dose of what you want, cut out what you don't need.   I find that limiting computer time is a big deal for me, easy to get sucked in.  I enjoy when I can noodle out some new whack storage solution and not have to be finished and all cleaned up by Sunday night.  Flexible deadlines help me accomplish the larger things easier, so I can do it right vs do it quick and clean.


You meant limiting computer time EXCEPT FOR TUG, right?


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## slip (Jan 26, 2020)

_I’m glad my son has listened and worked the full ten years of his 20’s saving more than what was necessary for the company match. He is way ahead of what I had and I started at 23. I’m glad I started early. 

I’m very jealous Dave, it will be a long 5 years for me and I don’t even mind my job _


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## WinniWoman (Jan 26, 2020)

Sugarcubesea said:


> Maryanne, I followed your story very closely because prior to the company I am at now, my company was just as yours was and I knew I had to find a new job or they would force me and everyone else that was over 50 out the door.  Thankfully I found an opportunity at a Japanese Company, which is known for hiring and  retaining the mature worker. I plan to stay hopefully at this company till 65.
> 
> I'm looking for a FA fee only this year, because ever thou I'm in Finance I want someone for verify our stats and spreadsheets to ensure we can retire.  The company I worked at for the bulk of my career had a pension but did not offer a 401K, when the company went bankrupt in 2009 (along with all of the other auto companies in Detroit during the great recession)  In 2011 when the company finally got through the bankruptcy process their pension plan was so underfunded that I will only get a sliver of what I was to receive...so knowing that now I will only receive a $110 a month pension ( I've been told that the number could even be less by the time I qualify at age 65) I knew that I had to readjust my retirement planning.
> 
> ...



Wow. These darn companies these days.....terrible.

Anyway- I did a lot of research and inquiring about FA’s. A big part of me did not want to hand over our money to one that manages it and charges like 1% or more in fees each year to do so. That adds up to a lot of money! I would rather hand it to our son if I have to give it to someone.

One guy wanted $10,000 per year and wanted to take our assets and put them in TD Ameritrade so he could manage them. Another one we met with invests all your money in stocks! 

And another one that was with a nationally recognized company was ok, but then that annual fee- his I think was 2%. I did a virtual interview with him as he was out of state.

I checked into Dave Ramsey recommendations and all kinds of other ones, too.

So- I was on the Early Retirement Forum and someone mentioned the Garrett Network as true fee only FA’s. 









						Home - Garrett Planning Network
					

Find a FEE-ONLY Advisor who puts your best interests first... How To Choose Your Advisor GPN Member Login Join the GPN Network Find a FEE-ONLY Advisor who puts your best interests first... How To Choose Your Advisor Two moreSearch options:1Search Advisors By:Services and Specialties2Browse Our...




					garrettplanningnetwork.com
				




Meaning a fee for advice, not a fee for managing your assets, though some of them do this as well. 

There is so much confusion with the terminologies fee based, fee only, etc.

I saw there was a local guy and made an appt. Liked what he had  to offer, his style and personality and the fact that he had a holistic approach to his planning. Spoke with us about our plans in retirement, what we envisioned our lives to be like.  He was particularly concerned with how my husband planned to occupy his time. Wanted to know what we liked to do, hobbies, travel, etc.  

He charges by the hour, or by the type of planning you want. We paid him I think $1200 or $1500 last year for a comprehensive financial/ retirement plan, which included a free introductory meeting and then a serious sit down one to go over everything. Also included access to him all year via email, phone or Skype, etc. 

It also reinforced that how I had handled our finances up to this point was very good which made me feel better. But of course it is going forward that worries me as now instead of saving money we are spending it and we have to make it last.

This year we decided to put him on retainer for the year for $1000.  We just met with him and he will revisit some things for us, like how to invest hubby’s pension money, what to do with his 401K, the ACA issue and how to withdraw our money to live on, etc.  Being we are moving, our meetings will be virtual.  He also has another plan that is a bit more money, but we can always upgrade or tack on hourly service ($200) if we feel we need more help. 

I also think having a CPA do our taxes this year instead of me doing them might help give us more clarity as well.


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## WinniWoman (Jan 26, 2020)

MULTIZ321 said:


> Hi Sugarcubesea,
> 
> Here is Barron's list of top financial advisers by state : https://www.barrons.com/report/top-financial-advisors/1000/2019.
> 
> ...



Again- these are not true fee only advisors.


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## geist1223 (Jan 26, 2020)

Dave once your Better Half Half retires you can join DENMAR in Henderson Nevada. Though I suggest you look at Boulder City. It is a bit cooler.


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## VacationForever (Jan 26, 2020)

CalGalTraveler said:


> Good point. I was called frequently by recruiters when I worked in Corporate America, however the opportunities did not feel right. When I left the time was right. In hindsight I should have left to start my company 5 years earlier - more money, more control over my schedule...
> 
> I now worry that health problems will prevent us from enjoying travel etc. when we eventually retire. We are making a priority to travel now but limited by vacation time off. Our biggest perceived limitation is healthcare. If Medicare was available to 55 or 60 I would retire.
> 
> Is there a way to estimate the cost of healthcare during the gap years to Medicare?


What we have done for me is to budget $15K per year, going to $20K at 64 before Medicare.


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## DaveNV (Jan 26, 2020)

geist1223 said:


> Dave once your Better Half Half retires you can join DENMAR in Henderson Nevada. Though I suggest you look at Boulder City. It is a bit cooler.



Are you talking about the home builder, or the Tech Services company?  We're undecided on where we want to end up living, and the search continues. Nevada is still on top of my list, but Hawaii continues to look very appealing.  And I have no intention of going back to work.  LOL! 

Dave


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## geist1223 (Jan 26, 2020)

DENMAR IS one of the Moderators on wmowners.com and moved to Henderson a couple years ago. Boulder City is in the Hills above Las Vegas area.


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## CalGalTraveler (Jan 26, 2020)

We currently pay $22k per year for a family of 4 with Kaiser on an employer plan that is partially employer subsidized. We spend another $5k a year on copays and dental bringing our healthcare to approx $27k per year. Our kids are on our plan until 26 so at least 4 more years of coverage unless one finds a decent job with medical included.

We always put away the maximum retirement starting in our early 20s. Skyrocketing college tuition, healthcare, taxes, unexpected healthcare for a child was much more than we originally budgeted for.


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## DaveNV (Jan 26, 2020)

geist1223 said:


> DENMAR IS one of the Moderators on wmowners.com and moved to Henderson a couple years ago. Boulder City is in the Hills above Las Vegas area.




Ok, now it makes sense.  I had Googled it, so wasn't sure.  I'm familiar with Boulder City. I should read wmowners more.  LOL! 

Dave


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## CalGalTraveler (Jan 27, 2020)

VacationForever said:


> What we have done for me is to budget $15K per year, going to $20K at 64 before Medicare.


So based on this, ACA is very expensive until 65: $15 - 20k / per person compared to the approx $6,500 / year we are paying per person with an employer plan. Once my DH hits 65 and is eligible for Medicare, and our kids age out of coverage at 26 then perhaps this could be considered to cover the gap to 65 but still very expensive!

We have friends who are already retired in their 50s, but they have retiree medical from their Fortune 500 company, or are government employee retirees and their kids are out of college and they are covered by an employer plan.


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## Sugarcubesea (Jan 27, 2020)

Maryann:  Thanks so much... I was looking for a fee only advisor... I had used a FA that was not fee only and I felt he only served his interests vs mine...I fired him 5 years ago and making more investing on my own thru Vanguard and the company 401K plan.

I will look at this list tonight after work thanks again


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## SandyPGravel (Jan 27, 2020)

slip said:


> _I’m glad my son has listened and worked the full ten years of his 20’s saving more than what was necessary for the company match. He is way ahead of what I had and I started at 23. I’m glad I started early.
> 
> I’m very jealous Dave, it will be a long 5 years for me and I don’t even mind my job _


I count myself lucky on saving for retirement.  When I started we had a manager that would go around and talk to newbies about getting into the 401k we have(at the time just called profit sharing).  At that time, and I kid you not, for every dollar we put in the company match was between $3 and $4 up to 2% of your earnings.  It is no longer that good, just $1 to $1 and only if we put in at least 4%.  Still I started saving at 22, couldn't participate until you were 21 and you had to have a copy of your birth certificate.  Now you can join immediately when hired, with a drivers license and no 7 year waiting period to be vested.


Yes, but a long 5 years with a nice view!


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## DancingWaters (Jan 27, 2020)

Congratulations, it sounds like you had a wonderful career, and after that many years have earned retirement!


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## DaveNV (Jan 27, 2020)

DancingWaters said:


> Congratulations, it sounds like you had a wonderful career, and after that many years have earned retirement!



Thank you! It's been a "colorful" career, for sure.  I keep thinking I should write a book, but I doubt anyone would want to read it.  LOL! 

Dave


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## VacationForever (Jan 27, 2020)

CalGalTraveler said:


> So based on this, ACA is very expensive until 65: $15 - 20k / per person compared to the approx $6,500 / year we are paying per person with an employer plan. Once my DH hits 65 and is eligible for Medicare, and our kids age out of coverage at 26 then perhaps this could be considered to cover the gap to 65 but still very expensive!
> 
> We have friends who are already retired in their 50s, but they have retiree medical from their Fortune 500 company, or are government employee retirees and their kids are out of college and they are covered by an employer plan.



It is what it is.  Large employers can afford to subsidize health insurance.  Even before ACA came along, good coverage private individual plans were running at around the same amount for premium and they were always age banded, i.e. higher for older individuals.  The huge difference is that after ACA came along, the deductibles and maximum out of pocket costs doubled.  When we left the Fortune 500 company and started a small business, we paid for our own individual plans and also for our single employee who was 60 years old.  That was before ACA and the premiums were about the same as post ACA but they had very low deductibles and maximum out of pocket costs.

I used to pay $200 per month for health and dental insurance for my son and I when I was working at a Fortune 500 company.


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## geist1223 (Jan 27, 2020)

Dave: can your Wife transfer to a Costco in the greater Las Vegas area? Then you could move earlier.


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## SandyPGravel (Jan 27, 2020)

geist1223 said:


> Dave: can your Wife transfer to a Costco in the greater Las Vegas area? Then you could move earlier.


@DaveNW Wait a minute...your wife can't retire.  Where will we get our insider info?


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## DaveNV (Jan 27, 2020)

SandyPGravel said:


> @DaveNW Wait a minute...your wife can't retire.  Where will we get our insider info?



Ha! Actually, there is at least one other Tugger who works for Costco. 

Dave


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## DaveNV (Jan 27, 2020)

geist1223 said:


> Dave: can your Wife transfer to a Costco in the greater Las Vegas area? Then you could move earlier.



The short answer is No.  We've been trying, but it's a "slim to none" chance.  The main issue is availability of a position.  Refund Cashiers are a very limited number of people per warehouse - like less than a handful, (unlike Front End Cashiers, which can number in the dozens per warehouse.)  Refund Cashier positions just don't come open very often. Last Spring we asked the Warehouse Manager in St George, Utah, about transferring in there.  She said she hadn't had to fill a Refunder position in more than seven years.  The staff in those positions just don't leave.  (My spouse has worked in Refunds at our local Costco for nearly 20 years.)

When you think about it, being a Refund Cashier is one of the best positions at Costco - where everyone else is trying to take a Member's money, the Refund Cashier is handing money out.  The pay scale is the same as working as a Front End Cashier, but it's a very specific, highly-trained position in a much smaller department.  About the only time a Refund Cashier position opens up is when a new warehouse opens up in an area that has other warehouses, (like the new SW Henderson warehouse that opened in LV a couple of years ago.)  The job opening will be either in the new warehouse, or to backfill a position in the old warehouse, if someone from there transfers to the new warehouse.  Either way, Refund Cashier positions are choice, and very rarely available.  So while not impossible, a lateral transfer is pretty much out of the question.

However, all is not lost.  We plan to take some advice from others in this thread, and investigate whether we can just have my spouse retire early.  If we can afford to live on one income, we may be able to move somewhere much sooner.  Lots to think about, and some very interesting conversations to have.  (Thanks to all of you for suggesting the Financial Advisor idea - it didn't occur to us that it may be an option for us until I read it in this thread.)

Dave


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## Rolltydr (Jan 27, 2020)

Good luck. Hopefully, it will work out so she can retire and start enjoying the good life!


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## pedro47 (Jan 28, 2020)

Is it true you must be 62 to retire at Costco even if you have 30 plus years of service?

Based on the limited information I know about Costco, they have an excellent retirement and health plans.  Plus, if your spouse purchased Costco stock for the last twenty (20) years;  you guys are set for life. IMHO.


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## WinniWoman (Jan 28, 2020)

DaveNW said:


> The short answer is No.  We've been trying, but it's a "slim to none" chance.  The main issue is availability of a position.  Refund Cashiers are a very limited number of people per warehouse - like less than a handful, (unlike Front End Cashiers, which can number in the dozens per warehouse.)  Refund Cashier positions just don't come open very often. Last Spring we asked the Warehouse Manager in St George, Utah, about transferring in there.  She said she hadn't had to fill a Refunder position in more than seven years.  The staff in those positions just don't leave.  (My spouse has worked in Refunds at our local Costco for nearly 20 years.)
> 
> When you think about it, being a Refund Cashier is one of the best positions at Costco - where everyone else is trying to take a Member's money, the Refund Cashier is handing money out.  The pay scale is the same as working as a Front End Cashier, but it's a very specific, highly-trained position in a much smaller department.  About the only time a Refund Cashier position opens up is when a new warehouse opens up in an area that has other warehouses, (like the new SW Henderson warehouse that opened in LV a couple of years ago.)  The job opening will be either in the new warehouse, or to backfill a position in the old warehouse, if someone from there transfers to the new warehouse.  Either way, Refund Cashier positions are choice, and very rarely available.  So while not impossible, a lateral transfer is pretty much out of the question.
> 
> ...




Really- research about hiring a fee only advisor (not fee or commission based if you can find one. Or simply a CPA that does Financial Planning- I was going that route until I found our guy. I still think a CPA that is also a certified financial planner would be the best option- or work with the two for two perspectives (use the CPA to help with taxes, etc., which is what we are going to do).

Anyway, if it weren't for the FA we would have never realized we actually could buy our retirement home before even putting our home on the market, or that my husband could have retired sooner. Poor guy would have been slaving away for another year, more or less. 

Of course, if your wife loves her job and you like having that extra money coming in, by all means stay put and enjoy your home.

As it is- the whole retirement thing is a longer process than people realize and implementing a plan takes a little time and a lot of energy if you plan to move at some point.

But as Panina stated in her thread about moving, IF you are going to move, do not wait because it is exhausting as you get older. I would never want to go through this again. We have 2 weeks to go and I hope we make it. Not easy. Hoping the weather holds out because we are beyond ready to get settled and can't take much more.


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## Sugarcubesea (Jan 28, 2020)

CalGalTraveler said:


> So based on this, ACA is very expensive until 65: $15 - 20k / per person compared to the approx $6,500 / year we are paying per person with an employer plan. Once my DH hits 65 and is eligible for Medicare, and our kids age out of coverage at 26 then perhaps this could be considered to cover the gap to 65 but still very expensive!
> 
> We have friends who are already retired in their 50s, but they have retiree medical from their Fortune 500 company, or are government employee retirees and their kids are out of college and they are covered by an employer plan.



This is one of the many reasons I want to stay at the Japanese Automotive company I work for till age 65. I pay only $65 a month to insure myself and my family. We have 3 different insurance plans to pick from and the HSA High Deductible has worked out well for us. Plus each year my company puts $2,500 into our HSA account  and I contribute the rest of the money allowed each year up to the max of $8,100  ($7,100 + $1,000 Catch up) I now have about $12K in that account and will use those funds for retirement.

Once my kids are off my plan, I will save about $20 a month in what I'm currently paying in insurance


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## WinniWoman (Jan 28, 2020)

Sugarcubesea said:


> This is one of the many reasons I want to stay at the Japanese Automotive company I work for till age 65. I pay only $65 a month to insure myself and my family. We have 3 different insurance plans to pick from and the HSA High Deductible has worked out well for us. Plus each year my company puts $2,500 into our HSA account  and I contribute the rest of the money allowed each year up to the max of $8,100  ($7,100 + $1,000 Catch up) I now have about $12K in that account and will use those funds for retirement.
> 
> Once my kids are off my plan, I will save about $20 a month in what I'm currently paying in insurance



That is great! A rare find in employers today. 

FYI- I am using our HSA money for my healthcare premiums ($545 per month) and my husbands’ Part D premium, which is only $14 per month.  That, and any out of pocket medical expenses we have, will deplete it at some point in the next year or two, but that’s what we saved it for I guess.

Of course, if the ACA route works out for me, that will help to keep the funds in the HSA for other medical bills.

Hubby has an HRA now also with an employer contribution of $60 per month- just started. Hey- better than nothing. I will have the same with his employer when I go on Medicare.


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## Sugarcubesea (Jan 28, 2020)

WinniWoman said:


> That is great! A rare find in employers today.
> 
> FYI- I am using our HSA money for my healthcare premiums ($545 per month) and my husbands’ Part D premium, which is only $14 per month.  That, and any out of pocket medical expenses we have, will deplete it at some point in the next year or two, but that’s what we saved it for I guess.
> 
> ...


Maryanne, your right my goal is to deplete my HSA fund first in retirement as those funds are to be used in retirement


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