Retiring from work

[superstar_88]

If you're retired at what age did you retire and how did you know it was time?
For those still working when do you envision yourself retiring and start retirement life?

 

[Robert Mugabe]

should be merged with the other thread on how did you get to where you are in life.Still working. past retirement age. will be I suppose until the government decides to keep us in a manner to which refugees have become accustomed.

 

[superstar_88]

You're working past retirement age. By choice or by circumstance? So I take it you don't have plans to stop working ever.

 

[NiceToMeetYou]

The longer you work, the longer you live and lesser chance to have the Alzheimer disease from what I read and heard.

For me, I will continue working full-time until I will be 71. Then from that point onward, I may continue working part-time as long as I can. Sorry for the younger folks, they won't have my job any time soon.... and many employers love employing older folks such as myself...

 

[bver_hunter]

But it is important to keep on being a hobbyist, as it is the ultimate medication against Alzheimer's Disease.

 

[t.o.leafs.fan]

I'm shooting for early to mid fifties. I have a ton of non-work related interests I want to delve into deeply.

 

[Davious]

I retired at 31, but hated it. Started working again. You'll run out of things to do.

 

[The "Bone" Ranger]

"Freedom 55"

My doctor told me that people that retire at 55 live longer than those that retire at 65. Need to get finances prepared but mentally all set. Will need lots of hobby money!

 

[james t kirk]

I figure to work as long as I can until:

1. I can't stand it any more. (Too much bullshit and stressed out to the max.)

2. I can no longer work due to physical issues - whatever that might be.

In my perfect world, I would work 8 months straight full time like I do now, then take 4 months off, then back to work for another 8 months. I feel that this would be better than working 4 days a week, or part time because if you scale back to 4 days a week, you end up squeezing 5 days into 4, or you can never get away from it on the 5'th day.

There does come a point when you have to fully retire and that age varies A LOT. I've worked with guys who were in their mid to late 70's and even 80's and they were on the ball and good to work with. In my field, grey hair and on the ball is in demand. (I'm not developing video games, or "apps".)

 

[superstar_88]

One of my concerns is wasting my life at work. But another concern is being bored with all that time in my hand without having to work.

 

[PinotNoir]

At 51 I am on my 5th career and plan to work until I am 70 when I will collect CPP.

 

[scdave2003]

Retired at 59, wasn’t exactly mentally ready but looking back at the last 10 years, retirement has been pretty good. Although the pay sucks.

 

[koreanjames]

I retired at 31, but hated it. Started working again. You'll run out of things to do.

i have to agree here. i semi-retired a tad later then you but it does get boring and in some cases lonely - most friends will be working like dogs in heat in their 30s to keep up with the bills and simply wont have time/income to do recreational things regularly enough to hang out, explore different ideas etc etc.

you also wont feel as productive since.... you'll be in retirement mode. for a person who has done well enough to retire young or even be able to afford to work casually, it will eventually feel strange to not be operating at peak productivity. with that said though, the first year (or two) of no longer needing to grind it out... does feel nice.

To the OP-superStar, being able to 'afford' to retire is normally a combined factor of your age, your ability to still contribute meaningfully to your work (skills relevancy), your expenses, dependents, overall cash flow, and of course your total net worth.

 

[superstar_88]

I guess grass is always greener on the other side.

How does one retire in 30's? Lottery win? Inheritence?

Not having a wife is a big factor in being able to even think about retirement.

 

[koreanjames]

selfEmployment, luck, and working 80-90 hours a week for at least half a decade will help. for those that really kill it, chances are they sold their business to a competitor or a larger player in their respective industry.

also keep in mind that the past decade has yielded the biggest (and longest) real estate + stock market bump in history (someone feel to correct me if i am wrong but i dont think history has both of these coinciding together too often, definitely not at this level)

multiple income streams + putting your money in the right places ... or even making sure to avoid putting the bulk of ones money in the wrong places makes an enormous difference. i have no shortage of peers that are strong strong earners who spend all their money on deprecating cars, trips, food, clothes, and of course SPs ... when they could easily be worth a few million if they played their cards correct + humbly.

recycling everything little bit of money, and money sense matters.

I guess grass is always greener on the other side.

How does one retire in 30's? Lottery win? Inheritence?

Not having a wife is a big factor in being able to even think about retirement.

 

[bazokajoe]

I should be retiring late next year.I'll be 57. Have a company pension then start collecting CPP(reduced) at 60. Never been married and have had no debts for years.
Biggest factor for me retiring is having to work with whinny lazy self entitled pricks.
To each their own,but why work if you don't have to?

 

[The "Bone" Ranger]

I should be retiring late next year.I'll be 57. Have a company pension then start collecting CPP(reduced) at 60. Never been married and have had no debts for years.
Biggest factor for me retiring is having to work with whinny lazy self entitled pricks.
To each their own,but why work if you don't have to?

Go for it, if I wasn't married I would have done it within the next year!

 

[Butler1000]

Looking at age 60. Posters discussing multiple income streams are correct. I've planned to not take CPP until at least 65.

 

[Smallcock]

One of my concerns is wasting my life at work. But another concern is being bored with all that time in my hand without having to work.

Retiring young has unique challenges. If you're not a social butterfly, you will be cut off from the normal socializing and networking that goes along with having a job. Second, all of your friends are still at work so it's not like you can call them up and hang out like you did in high school or college, plus they usually have a family to tend to after work. Third, you do need passions, hobbies, and [new] goals of your own; these are the things that give meaning to life and without them you'll definitely suffer from boredom, loneliness, and mental degradation. This is why retired people often decide to work again. The bonus is that you can work on things of your choosing rather than out of necessity. Work at something you enjoy, start up a business, or chase that childhood dream that you completely forgot about when the pressures of the real world began exerting itself.

 

[koreanjames]

Great post - couldn’t have said it better myself.

Retiring young has unique challenges. If you're not a social butterfly, you will be cut off from the normal socializing and networking that goes along with having a job. Second, all of your friends are still at work so it's not like you can call them up and hang out like you did in high school or college, plus they usually have a family to tend to after work. Third, you do need passions, hobbies, and [new] goals of your own; these are the things that give meaning to life and without them you'll definitely suffer from boredom, loneliness, and mental degradation. This is why retired people often decide to work again. The bonus is that you can work on things of your choosing rather than out of necessity. Work at something you enjoy, start up a business, or chase that childhood dream that you completely forgot about when the pressures of the real world began exerting itself.