Thinking about retiring?

[Shenango]

I retired in "13 at 62 and haven't regretted a single second of my time off. I really liked the work I was doing but despised the people working around me. The whole plant and office was full of me,me,me people and only a couple of us people.
Other that the obligatory aches and pains and a bad knee that has kept me down for 3 weeks, I have been fairly healthy. My wife of 48 years, and I still get along most of the time but agree on doing our own thing occasionally and that works for both of us. A cousin who is 71 and still working asked me what I do when I get bored and I said "why would I get bored" I have several hobbies and I can always go out to the garage and wax a car or upgrade something.
I heard a quote many years ago that went something like this. The poorest retirement plan envolves having a heart attack and dieing at your desk. That probably isn't accurate but gets the point across.
Just do it, Jerry

 

[Hey-O]

My biggest worry is working too long and not having a functional body to enjoy the time I have left when I don't HAVE to work for someone else.

That one's the biggie! Time waits for no one and no one knows, not if, but when that can happen. Actually, a lot of things in life are unknown and not always fair.

 

[themechanic]

This joke is getting pretty grim.

 

[YY1]

That one's the biggie! Time waits for no one and no one knows, not if, but when that can happen. Actually, a lot of things in life are unknown and not always fair.

Let me tell ya.....

I'm "only" 57 and I can absolutely feel "age" starting to affect what I can and can't do or feel comfortable doing.

Heck- getting into and out of low cars is starting to become an issue. WTF?

 

[Richard Cranium]

Let me tell ya.....

I'm "only" 57 and I can absolutely feel "age" starting to affect what I can and can't do or feel comfortable doing.

Heck- getting into and out of low cars is starting to become an issue. WTF?

I started feeling aches & pains and loss of stamina in my mid-40s, 20 years ago. Now in retirement, when I have a project or chore to do, I just pace myself; work 2-3 hours and that's enough.

 

[6PKRTSE]

Congratulations to all of you that have retired. I have to work until the day I die and even a half day on my funeral because of these damn Mopars.

 

[YY1]

Agree.

I really didn't notice anything other than vision and an occasional leg cramp until mid 50's.

But pacing and accepting a "two day" project is likely to take 4-5 real partial days is a more realistic expectation.

We are about in the middle of a kitchen remodel and have resigned the "weekend" job of hanging new doors and drawer fronts is now "we get done what we get done" on any given day.

I gave myself 4.5 days to do my Renegade 4.5 hour "book time" timing belt.

I got done in 2.5 partial days and that felt like a victory.

 

[themechanic]

Use it or lose it becomes very apparent after 40.

 

[SlingLow]

Let me tell ya.....

I'm "only" 57 and I can absolutely feel "age" starting to affect what I can and can't do or feel comfortable doing.

Heck- getting into and out of low cars is starting to become an issue. WTF?

I told my wife I'll be pissed when I can't move a refrigerator by myself. For me, that was age 57. Now at 65 the decline in strength is undeniable. I'm a small guy but have always been strong for my size. But I can still outwork two 30-year-olds (right up to naptime).

I mostly retired at 62 but still own some rental properties. I'm preparing to list two duplexes for sale that will move me closer to the finish line.

 

[Richard Cranium]

I mostly retired at 62 but still own some rental properties. I'm preparing to list two duplexes for sale that will move me closer to the finish line.

Sell them and cash out. I just signed a P&S on my office building & I'll be glad when it's gone. To me it's just more chores and a headache that I no longer need.

 

[YY1]

My whole life has been "figuring out how to do two man jobs with only one man", so I get that.

Rental properties is part of our retirement plan.

We will manage and maintain them until we can't anymore, or need major medical care.

The boy doesn't seem real interested in them, so maybe more cash in retirement for us.

Maybe if I sat him down and showed the cash flow vs the actual hours of "work".

...or maybe it will skip a generation.

 

[SlingLow]

Sell them and cash out. I just signed a P&S on my office building & I'll be glad when it's gone. To me it's just more chores and a headache that I no longer need.

Congrats on your sale! The near future may prove your timing to be excellent. Out here on the left coast, we are seeing some downward pressure on prices in all sectors of the real estate market. There's a storm brewing and there's no way to know when it will cut loose or how hard it will blow. For some reason, people tend to forget that real estate markets cycle just like the stock market, precious metals, classic cars, etc. My properties all cash flow so trading the income for a pile of cash is a matter of timing and I feel like I'm there.

 

[YY1]

I hope there is at least one more cycle before we are both ready to cash in.

2 of the 3 are paid in full and the other has less than 30% of it's current value financed at an attractive rate.

We can comfortably ebb and flow with "fair market" rent figures.

Although I'd sure love to scoop up another property if there's crash or "correction" in the next couple of years.

 

[oldbee]

Retired in ‘15, found out real quick that you can take as long as you like to get anything accomplished. I love the “no real rush” to get anything finished, just make sure you get it done. Knock on wood, no doctors on speed dial!

 

[moparwacko]

I retired almost 4 years ago. I'm 67 and can still "get R Done" when i want to - calipers, rotors, pads & brake hoses on my 2013 Wrangler in 3.5 hours. But I paid for it the next day.

 

[Richard Cranium]

Congrats on your sale! The near future may prove your timing to be excellent. Out here on the left coast, we are seeing some downward pressure on prices in all sectors of the real estate market. There's a storm brewing and there's no way to know when it will cut loose or how hard it will blow. For some reason, people tend to forget that real estate markets cycle just like the stock market, precious metals, classic cars, etc. My properties all cash flow so trading the income for a pile of cash is a matter of timing and I feel like I'm there.

I’m not selling it at full market potential, but I’m still selling it for more than double what I paid for it, and I’m fine with that. If all goes ok, it’ll be an easy and quick sale with no realtor involved. They realize that it’s a deal and will be able to sell it for more when it’s their time to sell it.

 

[Hey-O]

Let me tell ya.....

I'm "only" 57 and I can absolutely feel "age" starting to affect what I can and can't do or feel comfortable doing.

Heck- getting into and out of low cars is starting to become an issue. WTF?

I have a friend in his mid 70's and he's had a viper for years. Watching him get out of it is priceless. Getting in is much easier, he basically falls in!! LOL

 

[SlingLow]

I’m not selling it at full market potential, but I’m still selling it for more than double what I paid for it, and I’m fine with that. If all goes ok, it’ll be an easy and quick sale with no realtor involved. They realize that it’s a deal and will be able to sell it for more when it’s their time to sell it.

Sweet! I've done a bunch of FSBOs through the years and that's always my preference. It's been a while though since people lost confidence in the last correction. I bought the 4 units I'm planning on selling 16 years ago in a foreclosure auction on the courthouse steps for $244,001 or $61k per door. It's looking like I'll be at $180k-$200k per door on the sale. I've always said that real estate is a get-rich-slow scheme. I'm still collecting on contracts for properties that I developed in 2008/2009 and sold in 2021.

 

[gtx6970]

I retired Dec 23-2023

No regrets , although I do miss it somewhat

If you wait until you Think you can retire, You never will

 

[68gtxman]

At 68.5, I am still working part time. The money is way more than I’ve ever made in my life, by far. I make more than 4Xs more more per hour part time than I ever made full time. My clients (attorneys) have begged me to not retire. We’ll see next year if I just give it all up. I don’t need anymore money (thank you God!) than what I already have. No kids means no direct heirs. But I set up a trust for perpetual benefit for our heirs (nieces and nephews). I wish that I was advised when I was young to start my own business. Best Thing that I ever did (20 years ago).