Please retire as soon as you can.........seriously.

[midger]

I agree with Bill on retiring as soon as you can with the proviso that you have the bases covered financially so you have the ability to actually be able to afford to do whatever your passion happens to be. This is the sticky wicket in the "retire early" plan, as children needing help, failed marriages, failed businesses, etc can all throw a wrench into the best laid plans. I actually believe luck plays a large part, but planning effectively plays an even bigger part.

I first met Bill in his old store location in 1984 and used to shop frequently there. This was 10 years before my first retirement at age 44 from the military after 26 years. I then taught for enough time to become vested and snagged another retirement, then applied for SS as soon as I turned 62 (you can actually apply prior to your birthday so you don't lose any months of benefit). Like others have said, you can wait and draw more, but who knows what will happen while you wait.

Health also plays a large part, and sometimes we have little or no control over what genetics have dealt us. I've been fortunate to stay healthy and therefore very active. I jog daily, snow ski, hike, and fly fish often, do some pick up construction work when the mood strikes me, and wait for my wife to retire from her job, which hopefully will be soon but she's at the point where each year is really pushing her retirement up a lot, so she's been hanging in there for the last big boost and maximizing contributions to her 403b and our ROTH IRAs. We have health insurance through my retirement so that's covered. Health issues can devastate a retirement and ruin plans more quickly than any other factor so plan wisely.

[Baja Fly Fisher]

Hey bob

How about a short bike ride to Madera and back. I use to do this at least 3 times a month. Sometimes I pedal to Table Mountain have breakfast then ride home - the long way around. I'll talk to you more at the meeting this week

J

[John H]

I retired at the end of the year at 51. I have some wind down to do but should be all out very soon. I have some uncertainty about how it will go but I get some confidence hearing from so many people who left early. I figure I need about five working fishing buddies or a couple of energetic retired guys to keep me occupied.

[Gene S]

Bill's got it right....

Work hard and smart but smell the roses as soon as you can. My father was an engineer who meticulously planned his retirement future. But he didn't plan on being dead six months after retirement. I vowed never to repeat.

After returning home from the service at 20 and penniless I went to work for a construction company six days a week for ten years while supporting a family. At the same time I went to night school and bought, sold and renovated income properties in the evenings and on Sundays. Got my degree in business after 6 years. Formed my own construction company building multi-family and commercial projects on the Central Coast for the next ten years. Brought on a managing partner and pulled the active participation plug when I was 40. Moved to the mountains to hunt/fish and spent the winters on the North Coast rivers chasing steelhead. A failed marriage along the way took a couple years for financial recovery. I'm now in my later 60's, not filthy rich but have been able to live an independent lifestyle for many years. Don't waste time whining about the bad hand you've been dealt, many have been there and moved beyond. This country provides all kinds of opportunities. Grab em and run.....time is limited. Good luck to all.

[FISHEYE]

Well you guys are making me think. I retired the first time at 45 and played for awhile but I knew I could not make it on my State retirement. So I did some consulting for a few years and then went to work for the feds. For the last 6 months I have been working for 20 hours per week. I was going to retire but they asked if I could work a little to help out. The 20 hours per week is paying for some pretty special trips (2 times to Bristol Bay last year, 2 weeks in Belize and 1 in LA for redfish; this year Argentina 2 weeks, Baja 2 weeks, Belize 2 weeks, LA 1 week, one or 2 trips to Bristol Bay and maybe the Bahamas). So now I am thinking of finally pulling the plug for good.Maybe March 1 or May 1 in time for Baja and then an Alaskan summer. I'll be 60 in 2 weeks.

[JAM]

I appreciate this thread. I would like to hear more of supplemental medical insurances and
what peoples outlook on them. My father just recently passed and if not for his military supp
insurance it would have been frightening confronting these outrageous medical bills. Thanks!

[Gregg]

as one of the sort of younger members here (lol, 34), the idea of retirement has taken on a pretty different meaning for me. I watched my parents work full time, not really take time for themselves, buy houses, cars, timeshares, etc...all within their means, but still get hit with tremendous setbacks (Dad got diagnosed with semantic dementia 5 years ago, lost most everything). All that planning went out the window. My generation doesn't have a "retirement" in the same sense as the older crowd, all our long term jobs have been shipped overseas, there is little loyalty between employer and employee, wages are so far behind expenses, leading the same kind of lifestyle my parents did just isn't a wise option. After chasing the same structure for a handful of years I've realized the best path is to keep things simple, not overextend myself, but to do what I can to enjoy the path instead of breaking myself for the next 30 years to relax later on. I know it's a risk, and a pretty big one, but the scariest thing I can think of is strapping myself to a job I hate to make enough money just to realize I don't have the health or interest in enjoying the last couple decades of life. I fished the Truckee last week, woke up in Dana Point yesterday morning, leave for Vegas next Monday, ate amazing ramen in Torrance yesterday, drove I5 through the rain listening to The Who till 3am last night...I have a car with 290,000 miles on it, I rent a house, I love my job, and I try to fill my free time seeing things and being active. To me, right now is retirement.

[johnsquires]

Great post, Gregg. You are what they call wise beyond your years.