Home Forums Hunting & Shooting Hunter's Campfire Retirement decisions...

was hopin VA Nimrod would chime in, the guy is pretty well versed in this stuff as far as I can tell from the short conversation I had with him.


I'll change jobs but never retire, I'll always be doing something to make some coin, I have to, won't be any check coming in, just what I've saved and invested in. Plus I think the big surprise coming for a lot of folks is figuring out how much they'll make in retirement and how much they spend NOW.

if inflation kicks in like I think is possible, what used to be a comfortable retirement might mean barely scraping by.

I'm bettin that politicians decide to inflate their way out of our debt rather than deflate where cash is king. If deflation, seemed likely I'd say pull the plug now.

and too many other unanswered questions for anyone to give you good advice,

things such as

are you completely out of debt?

do you have new enough toys and vehicles to last you for 10-15 years?

do you have a hobby or something you want to do with your time that will provide additional income or do you just want to hunt, fish and play?

do you have other retirement besides your pension?

I'm not asking you to answer those things here, they're fairly private matters but all things I think should be considered before making your decision.

probably the best advice you've received is to talk to a financial planner or even better two, with this caveat, not an insurance salesman that's qualified as a fp, preferably a fp that charges a flat fee and makes no commission selling a product like annuities or insurance.

that's my thoughts on the matter, good problem to be dealing with, congrats on your success!

Decide when you have enough, and you've had enough, then it's time to retire.

Will be 60 this year, Wife will be 62 and can start her social security.

Worked 38 years on my last job and can draw a reduced pension.

Also have enough in a "spill over" account from my pension to pay for health insurance untill medicare kickes in.

Had 3 uncles die in there mid 50's

Also have some acrege for sale. When it sells My home will be paid for, and I'll be debt free.

Am thinking retirement at the end of THIS YEAR sounds GREAT!

Virgil B.

I'm glad for the work for ever boys, them illegals and welfare folks need the money.

The first thing you need to do is figure out how much you are actually spending per year now. Most people end up wanting to spend as least as much per year after they retire. Also try to project any future costs you can think of.

Here is a link to some retirement planning calculators. Start playing around with them and you'll get an idea of how you are doing and what concepts you might want to learn more about. You might want to start with the "How Long Will My Savings Last".

Financial Calculators

I'll be 60 in May. I can pretty much retire at any time but my work related stress level is nil, the money is good, and it's fun just hanging around being a pain in their ass. There are some advantages to getting old.

If at all possible, keep working somewhere. I am 70 and still working. I just filed for Social Security; you get an 8% increase in SS for each year over your full retirement age.

Fortunately, I enjoy my job, but will probably retire in 13-24 months.

Retirement is great; it's the gettin old that I don't like.

Truer words were never spoken/written.

I "retired" from working for someone else 6 1/2 years ago at age 53 1/2. Picked up some "consulting" work I can do from home. Very little travel or stress. I still have to get something done, but I work when and if I want to and on my schedule. I have a fortunate situation in that I really like doing what I do and, apparently, I'm pretty good at it (good enough that they keep coming back to me).

I will start drawing SS (assuming there's money left) in two years at age 62 rather than waiting until 66 1/2 to gain "full benefits". That's 4 1/2 years at a lower per month check. If the difference is $400 per month (say $1800 vs $1400) and I live to age 80, that's a total of $291,600 (13.5 yrs @ $1800) vs $302,400 (18 yrs @ $1400). I come out ahead retiring early. You can kind of do the same comparison with a pension. The problem with SS is that the numbers are fluid and I'm not confident of their validity over time. (The numbers I used are purely fictitious . . . I made them up to use in my example.)

Nick..Probably helps pay for your BPCR addiction yes?

Set my goal to retire at 55. Made it at 51. (Govt)

Still young enough to walk the mountains all day.
Need new boots.

ouch - from all operating engineers- or is the ouch from endless hrs next to a 600 horsepowerengine screaming at you for 10 hrs a day

Now that's one long retirement!

Not much could be improved upon about that statement.

Thats also one old guy, I make him 103 by his numbers.

Not a jab... its what I do. Used to travel a bunch chasin hours like the op, but found a good foreman job close to home. Avg 16-1800hrs a year with a co truck and gas card is better than buyin gas, being away from home, and working 2500hrs a year. Pension will suffer, but being home with the fam now is worth it.

Retirement isn't all roses. My mother worked hard as a professor at a university and was paid well for her services. After 35 years +or- she retired in the mid 1980's with a decent pension. Today, however, she isn't enjoying all the benefits of life, that some of these misguided posters here think will be available to them a few years after retirement.

Inflation and continued costs for just the basic necessities of life, still allow her to not live in poverty, but those of you that think all you need is enough money for worms, beer and saving a few dollars by not driving as much as you used to to get to work, may hit the wall someday and wish like hell you had kept your nose to the grindstone a few years longer...

Phone company guy here, they were good to me,and I was good to them. Got my 30 in at age 48, and literally left on the same date as I was hired. After retirement, I was amazed how I ever got anything done around the place while working. Im literally busier than I ever was working. Get out as soon as you can, lifes to short.

cool tool, but does not allow for a defined benefit pension plan...
if i relied on my personal portfolio, i'd have to go back to work three days after i retired...

and that is bad scary, as poorly as Def. Ben. pension funds are doing these days...

I have only a meager personal savings... i do have a retirement annuity which has about 3/4 as much in it as my pension does... i figure that it will fund our health insurance and put my youngest through college...

i do have a pension from the steel mill i used to work at... their pension is now administered by the feds, and i do not put much hope in it... i can tap into that fund upon turning 60, if it's still there... once again, i will take a hit for early retirement...

my trump card is that i am essentially debt free... i do not have cars and trucks which will last me 15 years, but they are reliable, for now, and easily replaceable at low cost... i do not entertain the thought of buying new autos...

there is no doubt in my mind that i will do the early retirement... just how early i go, remains to be seen...

i did not, and kinda still don't understand the pension point thing... a call to my pension office affirmed that i will be eligible at 55...
the drastic nature of the penalty will probably keep me from that... 58 sounds entirely doable, and the extra 3 years should be easy to do as well...