Retirement.....how soon? - Page 3
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  1. #31
    Super Moderator Spirit Deer's Avatar
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    We have financial options we would rather not do, but it's aces in the hole just in case. Agree about more years with less money.

    Husby has been having back pain for several weeks and it flared up over the weekend. He said it felt much better after he talked to his supervisor this morning. A retired coworker told him last week he will be surprised about all the aches and pains that go away after retirement. It won't surprise me because he internalizes unpleasant stuff. I eat instead and just gain weight.

  2. #32
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    My chiropractor mentioned that when people retire their visits to him drop off a lot (he waved his hand basically like dropping off a cliff.)

    It appears I will be retiring sooner than planned. The company takeover that happened on Feb 1 has simply caused too much havoc. I was told to either sign the non-compete agreement or be fired. So I will sign it but planning to leave before the end of the year. And job prospects look poor due to the non-compete. Unfair, but not worth the stress of trying to stay there or find a new job. So I'll be thinking of what I want to do next and ways to make that happen. There are some things that need to be done (getting parents' house ready for sale for example). But after that I'll want a new "occupation".

  3. #33
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    It's kind of scary but you'll get through it. Sorry your job situation got so bad.

    Our biggest issue was how to pay for health insurance, but in the end the answer became obvious for our particular situation.

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  5. #34
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    Talking to co-worker about my intended last day of work (was going to pick the last Friday in Dec which is also end of a pay period.) She suggested I wait until January. She thinks as soon as I give notice they will send me home and not pay. So I might as well get the 2 paid holidays first. I agreed that made sense. So I'm moving it out a month, keeping in mind I probably would not have to work part of January if they send me home. Not that much needs to be done in January anyway.

  6. #35
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    don't know about the states but here non compete agreements don't really hold up because employers can't prevent you from earning a living.

  7. #36
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    I get recommended articles in browser sometimes of expat living for retirement. In other words moving to another country after you retire. The articles I read generally focus on moving to a country where the cost of living is lower than the country you live in. But when I look at the costs for things listed in the article, it seems to me that the prices are comparable to many cities in the South or Midwest. For example, in one I read recently it said rent was only around $800-$1200 in the foreign city they were touting. While I can't get that something that cheap here, there are lots of US cities where I could get someplace for that price.

    There may be people who want to live in other countries. There is nothing wrong with that. But choosing it primarily for economic reasons seems questionable. It seems to imply that to get a good deal for your money, you need to go to another country.

    Are people who live in high cost of living areas ignorant of the fact that large portions of the country have a much lower cost of living? I am very aware of the difference since I came from a city with much lower cost of living than where I am now.
    KathyB

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    I've been retired for 7 years having retiring at age 70. I never had a retirement plan at work and always had to pay my own health insurance. My dh became disabled and was on SS disability and Medicare but due to his numerous health issues we paid a LOT for medical beyond premiums. I started drawing SS at age 66 my full retirement age and from that time forward we lived on our joint SS and I saved all of my income for retirement. My dh has since passed so I added his 401-K to my retirement savings. My mother will turn 99 next month and I keep thinking how I'll manage if I live that long so I strive to live on my SS and not touch my savings because who knows what needs lie ahead. Its comfortable to know if I need a major house or auto repair the money is there.

    The major expense increases each year have been supplemental health insurance premiums, RX insurance and property taxes. Household repairs are another big expense plus paying someone to do mowing and snow removal. I find it frustrating that I often know how to do a repair and have the tools, but due to arthritis my hands just cannot manage the project.

    With the country in chaos due to the pandemic and the violence protests, violence against police, the crazy weather (fires, floods, drought, derecho and hurricanes), shortages of food and supplies, fast rising prices and so forth, I'm not sure I would be in a hurry to leave a good paying job. Throw in the election and the huge national deficit and talk about reductions to SS and Medicare benefits and possibility of failure of various states funding for state employees retirement, I think I'd hang tight and ride out the storm before retiring. I know my sister's retirement fund from the state took a huge hit shortly after she retired at 62.

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