Retirement Thread
 

After the positive responses and congratulations on my Retirement thread, the idea came to me that there should be a thread that helps everyone prepare for the eventuality of retirement.

There were many great ideas, comments and great suggestions that came out of the conversation. What I would like to do is put this here as a repository for information for anyone who is:

• Ready to retire
• Close to retirement
• Beginning to plan for retirement

One of the things I came to find out is that no matter how much I had thought I was prepared for retirement, there were still things I had not pondered or prepared for.

So this thread is for all your questions, comments, advice to help others that are close to retirement.

I mean....this board is about a year and a half away from being around for a quarter of a century, and many of us who have been around are there already.

So, please feel free to contribute!

As long as Mahomes doesn’t post in this thread anytime soon, we good. Enjoy retirement fellas.

Just agreed to sell my

Oh?

Whatever it was, it must have not happened? :hmmm:

Soul

I have a Rick Mirer rookie card. Pretty sure that will carry me through to old age and beyond.

Getting in line

I think I'm retired but I'm not quite sure

As a fun related anecdote, my wife and I were just interviewed for a documentary about retirement planning. No idea if we'll make the final cut or not, and we left thinking, "I hope they don't present us as fools or something."

We showed up assuming that it would be one guy with a camera making a youtube thing. Instead, we went through hair and makeup and had a wardrobe check, and when we went into the next room there was a 10+ member crew of light, sound, and camera people waiting for us. The producer was from another city flying in for this. Now I'm really curious what it's going to be. We were interviewed for about 20 minutes, so maybe we'll get a minute of air time when all is said and done. We got paid $200 for it.

Let us know where and how to see this!!

How's your sex life at retirement?

$200 to look like a fool on national TV?

Pfffft

I think it'll come out next year, and they said they'd let me know. I'm a little nervous about it.

It's the most I've ever been paid to look like a fool.

When you got scratch like RM, you don't need no stinking retirement!

I sure hope that is the age ppl stop doing it or nasty

Enjoy retirement Mosbonian, was good meeting you in Jacksonville last year!

Did you make them participate in a poll? :p

Old people sex scares you. Not the first time you thought anyone over 50 should stop humping and screwing and doing the intercourse.

You are hiding a secret. Did you have to satisfy an older woman in your neighborhood and you have never recovered after seeing a giant hair bush of grey pubes up close and personal while licking that old beat up piece of roast beef. :LOL:

My gigolo days coming back to haunt me

They called the shots. As an actor, my only job was to bring the emotion.

They had us sit on a couch that reminded me a lot of the couples scenes in When Harry Met Sally.

What’s the oldest hooker you’ve ever bought

Think you'll get nominated for "Best Leading Actor in a Commercial"?

Oldest escort was about 32 and youngest about 19-20. I was in my late 40's to early 50's. My escort time existed in Northern Virginia for about a 3-4 year period between 2010-2014. The main agency I used called Classy Escorts was busted by the F.B.I. for money laundering of all things. Once they got busted I ceased dealing with escorts anymore as I felt I dodged a big legal bullet. Then I wound up dating that lunatic 14 year younger woman for 9 months that I documented here on CP.

When I was in my late teens to about 40, I dated older women almost exclusively. I had a 24 year old girlfriend at 18, my first real love when I was 24 was 3 1/2 years older, dated a 38 year old for nearly a year when I was 23, dated a hot sexy redhead from our golf course group who was 46 when I was 32. The last life of my was in New Jersey during 2005 and she was almost 5 years older than me.

Some of the highest rates of STD's in the nation come from nursing homes.

Sluts jamming out to Elvis and giving big Ernie gummers

Did the interviewer look anything like Borat?

We have one kid halfway through college and the other lined up right behind. We're looking forward to being empty nesters, but haven't figured out WHAT we want to do during that time, or in retirement.

I want to hear what CPers are doing, or planning to do, in retirement!

I read this book prior to retirement. " How to Retire Happy Wild and Free"
Good read for those approaching retirement on how to adapt to being retired.

https://www.erniezelinski.com/How-to...-and-Free.html

Sounds like you are set financially.:rolleyes:

It was cool meeting you too.

It was great meeting you too!

My wife and I have both been “retired” for 3-4 years. We have mostly enjoyed it, and are pretty fortunate—but it is definitely an adjustment. This is our experience, though I suspect it is pretty representative. To be clear, we “retired” early because we had solid pensions and our previous jobs became less gratifying than in younger years, but we intended to continue working side-gigs, hobby jobs, but sought a less stressful lifestyle—where we could choose if, when, and where we worked.

We choose to continue to work at something, rather than FULL retirement, to maintain cash flow, increase disposable income for travel and “fun” stuff, and to avoid dipping into the investment principals—but also to satisfy our need for “purpose.” Investing new money wouldn’t hurt either if you can afford it, while maintaining your preferred lifestyle. Regarding travel, consider what you really want to do: international or domestic, flying and hotels, camping or glamping, or just taking the opportunity to visit family, friends, or places you didn’t have time for when you were working full-time. In retirement, do what you want, not what you think will impress your Facebook friends.

As for general advice, based on our experience: first, have a solid plan for paying the full premium for healthcare if you are accustomed to employee provided benefits. If you still have kids under 26 who you chose to cover—be prepared for sticker shock. Medicare won’t kick in until. 65, so it’s a hefty expense. Dental and vision coverage is usually extra too.

Pay off all credit card and other incidental debts prior to “retirement.” Get your car(s) paid off, and get to within at least 4-6 yrs of paying off the mortgage. That will ensure you aren’t working part-time or side gigs longer than you want into your late 60s or even 70s—unless it’s by choice. One expense we cut when our four kids left home was life insurance. If you have a reasonable nest egg and even a modest estate, disability coverage and long-term care coverage are likely more worthwhile depending on your circumstances.

Continue to pursue passions, travel responsibly, and indulge or at least discover a hobby—or better yet, do all three. Otherwise, our experience suggests retirement can be hard, even depressing. We know some who’ve retired—and basically quit at life. That’s a potential downward spiral that can be hard to reverse. Don’t fall into it. Binging Netflix, playing golf, wasting your day in DC on CP, and poker with the guys are fun for a few weeks, even months; unless they are a true passion even those types of things get old pretty quick.

Unless you are big introvert, socialize. Schedule, schedule, schedule. If you don’t schedule life, it can slip by you. Plan your week with friends, the gym, breakfast or lunch outings, volunteering, bible studies, book clubs, happy hour(s), and weekend special events. Don’t overdo it, but days, weeks, and years can simultaneously drag by, and fly by. Being retired is about choice—not doing nothing. Do what you like, love—and can afford. In our experience, doing nothing is a prescription for boredom and unhappiness.

My final thought is don’t expect to know what your retirement will look like early in the process. You may think you know, but don’t be surprised or discouraged if you end up changing course. Two kids found adulting these days challenging enough they came home to reset—we are glad to be there for them. I know a guy to retired to Kalispell, MT—and inexplicably seems to love his new life as an aspiring lumberjack. Another intended to “golf every day,” but mostly volunteers and mentors students in schools. Some think they will travel a lot, but find hotels and airports, or maintaining a RV to be too annoying to be worth it. For most I’ve known it’s a dynamic venture filled with twists and turns. Breathe, relax, and enjoy the journey. You’ve earned it.

Thank God you no longer infiltrate students brains with your shitty ideals

Actually, I do…just in a different, chosen, and more lucrative role.

Thanks for your concerns though. God loves us both. :)

Is Mosbonian getting a little more loving with all this free time or is the wifey telling him to get a new hobby? ;)

I just agreed to sell my ownership to my partner yesterday. I am really set at this point. I just don't think I can ever fully retire. lil momma and I have been interested in selling Real Estate. We would be good at that and I think I would enjoy it. Doing that instead of nothing for at least awhile would really leave my son in a good spot too.

I retired on 19 Jan after 25 years of being a technical writer.

Best decision I ever made was doing the 10% pre-tax contribution to my 401K. It was painful the first few years, but now that I received my first monthly payout, it definitely was worth it. Also, was lucky that for the first 12 years, the company was doing a 10% match (got dropped to 6% after that, but 6% beats nothing).

Now, I'm moving into the house-husband stage while my wife finishes up her last few years with the government and gets her pension/401K going too. Definitely perusing the "What's for Dinner" thread for ideas. You guys are way creative.

Also, taking advantage of my downtime to get some writing in. Hope to get at least two novels finished this year.

So, life is good, and we're beginning to look around to decide where the final retirement location is going to be (definitely NOT Maryland . . . state never met a tax it didn't like). But, so far, after two and a half months of being retired, things are going well.

Lots of good advice here. Whats your experience in "long term" coverage? Does that include plans to help if and when "assisted living" is needed? Lost both my parents last year when they were both in assisted living. For both of them to share a 1 bedroom studio room, we were paying $12k or more each month.

Just prior to my retirement I was a project manager on a project that was a first of its kind that generated a ton of attention. I literally gave hundreds of tours and talks on the project to people from all over the world.

The media came out to tape interviews with me and 2 others. Once that little red light on the camera came on, my ears got hot, my face got flushed and I couldn't speak intelligently. They finally got the footage they wanted, but it was a torturous path.

Best orgies in the nation take place in the 55+ community, the Villages. ;)

Most of them I’ve seen in southern Missouri charge $1000 a week for semi- private assisted living with 24/7 health care. It’s not covered by Medicare after 100 days.

I'm targeting July 1st to be my retirement date. My wife still has 3 years to go before she can retire with a full teachers pension.
All vehicles and credit cards will be paid off by then, but I still have a number of years left on the house mortgage.

I'm looking forward to doing stuff around the house that I haven't had an opportunity to do. Maybe take up golf again etc. I don't think I'll be bored with all the stuff I will have time to do once I retire.

My folks were in Calif. The highest quote we got from a very nice facility was $20k a month for both of them. Ouch

Ive told my kids if and when I get to that point, move me to the least expensive state or build an ADU and I'll stay out of their hair lol

Congrats mcf!

Been happily married for almost 40 years.....and definitely married up.

What has kept me a happily married man is never discussing my sex life online.

Hey Mosbo , if you downvote me again for joking about signing Boyd, I’ll have Billay break your retired hip!!

Happy retirement brother, hope I can make it one day!!!

Congrats on the retirement! This is my first week and mostly what I am doing is decompressing....enjoying what it is like to not have to manage people or get up early.

Found out that I had forgotten what it was like to not have pressure each day.

Thanks! I’m looking forward to it.

Says the guy who downvoted me because I said the Royals haven't had a major league level team since 2015.

Thanks and I hope you have a happy retirement when that day comes.

Long term care can definitely help—research the companies prior though. Some are better than others. Helps with both full and assisted care, but to differing levels. Understand that even those run out at some point if you live forever (85-90+) and know that the sooner you start, the less expensive the plan. Plan for essentially a car payment, the better plan the more expensive the premium—KIA Forte vs. F250 Raptor (or Mercedes) difference. Depends on where you retire too, though.

My family history suggests I won’t make it to 90, so I if I really wanna live that long I probably need to start soon. On the other hand, tequila, tacos and a special “cocktail” (when the time comes) sounds better than prune juice, baked chicken & steamed broccoli, and green jello…and forgetting my spouse’s name. If they shared a room for that, that sounds par for the course, so they had a decent, though not extragent plan.

How about videos instead? That could be your new retirement hobby, videographer. :LOL:

I remember being in my early 20’s, looked at my check stub and thought of that Social Security money being taken out. Thought I’d never see that money…. May have to retire soon. Never know where life will take you.

Speaking of social security, I guess 30 credits is what is needed to receive benefits/medicare. I checked my account and I have 29/30 credits as most of my 20 year career I didnt pay into SS so I received no credits.

Take a job for six months somewhere at Menards or Lowe’s and you’re good?! That or take spousal benefits from your spouse? ��

lol. My bad!! May have been a sausage-finger moment!! Heh, good catch!!

Yeah...I catch myself doing that also....no harm, no foul.

Plus one time I did it when I was using my new phone and it was still bringing up all the posts....I accidentally negged something I agreed with and felt like a fool.

Wonder if people try to game the system? Put all your assets in only one spouse's name so Medicare doesn't take all your assists before they pay for the assisted living?

Yes. An irrevocable trust is one way. The look-back period varies by state….5 years is common. Most states have exemptions, vehicle, primary residence , etc.

Oh, you have to REALLY trust the trustee. Effectively all the assets put in the trust are controlled by the trustee….and no way to reverse the decisions of the trustee without litigation to prove beach of fiduciary duty.

You can also simply transfer the assets to another person…still subject to look-back period. But if a person intends to leave an asset to a particular person in a will it can be better to transfer title earlier. For instance, you are going to leave the classic car to someone.


https://www.verywellhealth.com/irrev...dicaid-4173386

The look back period is so important and something most people never look at.

That is why I hope that at age 80 I can just go to sleep one night and not wake up. Don't want to put my wife thru the pain of having to put me in a care/memory care place.

I can identify with so much of this. July 1st, it will have been a decade of retirement for us.

Like you mentioned, debt free was number one for us, so we have yet to touch our savings even though inflation has cut it's value in half.

I learned after a couple years it had been me creating my own stress in life, and it has not changed.

Like you mentioned, you are doing your own shit and I have a ton of it to do. Car/Boat shop, wood shop, etc. etc.

We enjoy our own company with kids and grandkids visits being the best.

we have no debt but the house. But, it’s worth at least $500K more than we owe. We may sell and have a house mortgage free and then we have no debt.

We have some cash but not the $1million or more I read online is the bar. That seems high for middle class unless you started saving in your 20’s.

Yeah, I’m looking to a stress free environment, at least no work stress. The last two years have been extremely difficult for me, health wise and I think getting rid of the work stress will help tremendously

Same boat. 6 months and some change for me.

I get it and wish you the best on that.

Now I stress about stupid shit like weeds in the yard etc. :D

Work stress is what was part of what helped me make my decision to retire.

I didn't want them to carry me out of the office toes up and have a stranger show up to my wife's work and tell her that her husband died of a heart attack.

Yep, if you can swing it…it’s liberating. Between bureaucratic and political office bullshit, changing leadership and philosophical direction, and constantly changing technology that came with minimal ‘training’—all of which you endure every 7-9 yrs as part of a normal cycle, COVID and toxic cultural issues were the final straw. I do what I want, when I want, how I want and if I want. It’s awesome.

Yep, if you can swing… it’s liberating. Between bureaucratic and political office bullshit, changing leadership and philosophical direction, and constantly changing technology that came with minimal ‘training’—all of which you endure every 7-9 yrs as part of a normal cycle, COVID and toxic cultural issues were the final straw. I do what I want, when I want, how I want and if I want. It’s awesome.

I don't really know what to do. I love 90% of my job as a shop teacher. I could retire and make about the same money. I could then go get another job and bank all of it. But man I think I will miss this. I thought about getting my cdl and driving local. Get in, drive, get out, go home.

The bolded part above is what really made the job difficult...

Yeah...it's the 10% of your job that drives the frustration and makes it difficult to enjoy your job.

:)

😆 🤣


How true that is!!

My advice is: Get that library card out, and go check out some good reading material. Dashiel Hammet, Gene Wolfe, James Crumley are a few of my favorite.
Get a gym membership utilizing 'silver sneakers'. You can go work out 'for free'. You'll discover the truth of the old saying 'Move it or lose it'. So move it.
Buy a fishing license. Go, sit on the bank with a line in the water. Bring one of those good books from the library. Bring some bug spray.
Learn to cook mo' betttah. Grilled chicken breasts or lamb, marinated in a little italian dressing and cut into chunks to cook on skewers. Mushrooms are also good griled/olive oiled, You've got time, put it to good use.

All of this is great advice and I am doing some of that already....the only bad piece of advice for me is the mushrooms part....I have a bad allergy to them, :)

Yep, you begin losing something like ~.5%-1% of your muscle mass per year after 40 or ~5-8% per decade if you don't do anything about it.

(and by "anything", not sure it includes the old people at the gym who put 10lbs on the leg extension machine and lazily do a few reps... but, maybe it gets the hear rate up a bit if nothing else...)

Just bumping this to the top after BRC's thread....

Anyone who has any advice.....stories to pass along...or just wants to vent about something you faced when you retired please feel free to jump in here

Yeah, I would have put my retirement post in here but I also needed to let planeteers know about my memory issues. I was worried many wouldn’t see it because they are not retired or thinking about retiring.

You wre absolutely right to put it in its own thread as most people nay not check out this thread until they have something to contribute.

I've got some CD's that are mature in a couple of months. I have a 401K I have to make a decision on in a couple of weeks. What have you guys done with these in the past or will in the future?

Gave it to me