I'll Never Retire...

Mike

Mike

Audioshark
Staff member
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Location
Sarasota, FL
Interesting article:

http://finance.yahoo.com/news/ll-never-retire-americans-break-095750781.html

As I approach the big "50", I often think about this topic. If you love what you do and you are physically able to do it, then why retire?

I know many who strive, work and save for retirement. Others who continue to work because they love it. I have a friend who is 87 and still going strong in the aluminum business. I know others who retired in their 40's! There is no one-size-fits-all, but it is interesting to watch the trends.
 
My reason is because I enjoy my job.

I'm still working in my job that I've had for the last 32 years. My commute sucks, so I definitely would sorta retire if I didn't like my job.

I say sort retire because, I think as long as I am physically able - I'll always work somewhere - but with less stress and within a 1/2 hour drive from home. Maybe even for a non-profit for gratis. :)
 
I tell ya Mike regarding retirement, my position on retiring young is based on how you feel emotionally, financially and the state of your health and your family. I retired at 57 1/2 ( I'm now 63) my wife retired at 55 (she is now 58) from the DOJ. You don't have to be rich to retire just smart and realistic on how you THINK you need to live. Everyone that I know that is happy after retiring young ( before 60) all downsized somewhat which comes at a shock at first but the pay off is huge as the years go by, but of course its difficult to retire with young children. My girls are 35 and 30 and out on their own so that made the decision a lot easier. Not to mention it helps when you worked for a company that had a pension plan and a 401 K and health insurance (not 100% free) .. A lot of people still work past 60 and into their later years. Sure they may just like to work, enjoy the people or maybe their underlying truthful reason is they must work due to a pension that is solely based on their savings in a 401k program and the company sponsored/provided health insurance program or they are living way past their means and can't retire.

All I know if you can retire at a early age the relief from the day to day grind which is stress is worth its weight in gold.
 
I can retire at 47 from my current career. After that, I still plan on working, but doing something I enjoy and can walk away from at any time.
 
Walter Cronkite, for decades the anchor on the CBS Evening News, retired in his mid-sixties. He took up a life on Martha's Vineyard. For five years he would not grant anyone an interview. Morley Safer of 60 Minutes finally got Walter to relent.

Morley asks Walter Cronkite in the interview, "so Walter what do you do all day?"

Walter repsonds, "everyday I get up with absolutely nothing to do and by noon I'm waaaaay behind".

But with all "seriousness aside" :), what is one definition of retirement? To me it is freedom over your time. You don't "have to" be anywhere unless you choose. I still have business interests in Chicago. I return there when the urge strikes me.

Benjamin Franklin retired at the age of 42. Did he stop contributing? He had freedom over his time. He also had multiple streams of income to make an early retirement possible. Look what he accomplished after the age of 42; and not "having to" show up to his print shop everyday.

I think you can retire when you can make your money work for money instead of you personally working for money. Lot tougher to do in a zero interest rate environment. But you think creatively and find other ways of earning a return.

Since I've taken another path at the age of 55 my blood pressure has dropped back into the normal zone sans medication and my family tells me that I am a little bit less of a beast to live with.

My $.02
 
I am soon to be 61 and I will retire when I'm still 61. Same employer for 41 years. I could have retired at 55 had I so chosen. I opted to maximize my retirement and have no regrets with that decision. I do plan on moving to another state and buying another house. I have no plans to buy a small home (of course that depends on what people consider small), but I do worry about having a room for my system that is less than what I have now which is why I might opt to build my next home to ensure I get what I want vice having to make do.
 
I retired in 2007 at age 60. My original plan was to retire at age 59 but all the pieces did not fall together for another year. I do not miss the daily grind at all. Having complete ownership of my time is a wonderful thing. My two business partners told me I would be back within a year. That was nine years ago. I enjoy every single day doing exactly what I want to do. I get up early if I feel like it. I sleep late if I feel like it. I stay up half the night if I want to. Some days I am busy, other days I just loaf from morning until night. No pressure, no deadlines or schedules, no dealing with employees or being required to spend time with people I don't enjoy. Life is great. Color me one happy retiree.
 
Double-D said:
I retired in 2007 at age 60. My original plan was to retire at age 59 but all the pieces did not fall together for another year. I do not miss the daily grind at all. Having complete ownership of my time is a wonderful thing. My two business partners told me I would be back within a year. That was nine years ago. I enjoy every single day doing exactly what I want to do. I get up early if I feel like it. I sleep late if I feel like it. I stay up half the night if I want to. Some days I am busy, other days I just loaf from morning until night. No pressure, no deadlines or schedules, no dealing with employees or being required to spend time with people I don't enjoy. Life is great. Color me one happy retiree.
Click to expand...
No honey-do list?
 
I'm working through my plans to retire over the next couple of years. I do plan to do some community work. I'm also planning to move to a tax friendlier state - likely back to Florida (Gulf Coast).

I have thoroughly enjoyed my career. I started in the USAF, then did some consulting, software development in telecom for most of my career and over the last nine years technology in retail. I have enjoyed many experiences and have travelled to many places in both commercial and corporate (around the world several times). I've been blessed with a very fulfilling and financially rewarding career.

Looking back it has been fantastic but also I have logged many miles traveling, many nights in hotels and many hours of stressful pressures and deadlines. I'm really looking forward to the next chapter of my life with my wife, family and friends.
 
I'm close to your age Mike. I wouldn't mind a change of direction. Given the direction of ICT and its present disruptive consolidation by the big cloud players, the pace of having to reinvent yourself is an inevitability of remaining relevant in a tighter game.
 
I retired at 48 from Intel Corp., where I spent the last 7 years of my "computer/corporate career", with 15 years before that at Intergraph (Huntsville, AL) a cad/cam company and a few years prior at the then well known DEC or Digital Equipment Corp. out of Massachusetts

I was an Avantgarde Duo owner, (after going through Vandersteen 2CE's (top model then) Magnepans, Apogees (5 pairs), Martin Logan (5 pairs), Sound Labs, Watt's from the first production run, before there were puppies, with Entec LF 30's, Subs, Infinity RS1B's, and a bunch more that I can't remember) in the late 90's and knew Jim Smith the Avantgarde distributor at that time (never been another like him, Jim put Av on the US map).

Jim said "why don't you open an Avantgarde loft in NYC, I was then living in NJ. 30 days later I was in the space that I am in now and it's 16 years later...doing EXACTLY WHAT I WANTED TO DO IN LIFE....an audio store in NYC....that was my dream being an audiophile in the 70's, 80's and 90's.....would have cut off my left arm to have an audio store in NYC. I take it one day at a time and until the breathing stops will continue on this path:)

Forgot one thing, I golf 3-4 days a week (weekdays only, too crowded on weekends) teeing off at 6:00am and finished by 8:30, which is my other love:heart:
 
Ritmo said:
I'm working through my plans to retire over the next couple of years. I do plan to do some community work. I'm also planning to move to a tax friendlier state - likely back to Florida (Gulf Coast).

I have thoroughly enjoyed my career. I started in the USAF, then did some consulting, software development in telecom for most of my career and over the last nine years technology in retail. I have enjoyed many experiences and have travelled to many places in both commercial and corporate (around the world several times). I've been blessed with a very fulfilling and financially rewarding career.

Looking back it has been fantastic but also I have logged many miles traveling, many nights in hotels and many hours of stressful pressures and deadlines. I'm really looking forward to the next chapter of my life with my wife, family and friends.
Click to expand...

Mike - it's going to be great to have you as a neighbor! You can tag along to all our zany crazy audiophile meetings. With both clubs combined we are pushing 170 members, many with incredible sounding systems.
 
I can't retire because the only hobby I have left is also my work. :audiophile:

Been blessed to do only what I want to do since 1970...
 
my boss did not really retire, he was forced to retire. He was working 10 hour days up until a couple of years ago. I remember having a meeting and a private conversation with him at 5pm and he was complaining that now he feels tired.. I said "you should. you're 85 and had been working since 7am, I am 50 and started working 8:30, now I feel tired too"

I think he just loved the challenge and working.. there are a few people like him.

some people accuse him of being greedy but I think otherwise because he sold us (long term employees) the business and a 30,000 sq. ft. building for half it's value and financed the sale, we just pay him whatever we want from our bonuses. he sold a few other smaller ventures to his partners, one company with over a million in assets, he sold his 50% share to his employees for $1.

his dementia started last year, when he was 87 and progressed quickly. his children who will inherit at least a hundred millions (probably more) were so quick to put him in a publicly funded nursing home and kept him away from the outside world - his position changed from a position of respect and power to the opposite so quickly. he is well loved and a lot of people care for him, but I am one of only five people outside his family who is allowed to see him and know where he is (I hope none of his kids will ever see this post, pls don't quote this post as I intend to edit and remove it later. I am just venting here) now he is living with some people who have not contributed a single cent to the society...such a pity, I think he deserve better.. I think God gave him dementia so that he won't be aware anymore of what's going on with him.

Having seen that, I want to retire while I am still healthy. I love my job and won't mind working till I am 65..but I want to have the freedom and control of my time. I have a friend who is retired and a golf nut, he spend so much time in the golf course and sometimes does not see his wife (also retired) nor know where she is for a week.. that's freedom

My biggest worry is how will I live my life past 85 and vulnerable.
 
I am 55 and have absolutely no trepidation about selling my business as soon as I bag a few more of the opportunities I see to maximize its value and then doing everything in my power to get as bored as a human being can possibly be and then try to do it again and again and again...............
 
I retired at 50. After 33 yrs. as a railroad Engineer. My wife's successful career allowed that to happen, she asked me to stay home so we would have more time together. I can never thank her enough, she gave me an extra 10 yrs. of retirement life!!

One thing I've learned about being retired at a younger age than usual is you definitely need to have a passion for multiple things to keep you busy. Besides audio, I love to cook,take care of the house, go fishing, play golf and spend time with friends and family. I've witnessed people that retired that had no hobbies or passions outside of work, and unfortunately the withered away and died early. If your one of those people that loves what you do,and have no real hobbies, keep working.
 
Mike said:
Mike - it's going to be great to have you as a neighbor! You can tag along to all our zany crazy audiophile meetings. With both clubs combined we are pushing 170 members, many with incredible sounding systems.
Click to expand...

Looking forward to that Mike!
 
dimfer, that's a great story we should all be so lucky to work for a great man as you did. Me, ill be a 'hondler' for the rest of my life. im 50 with two pre-teen boys and i live in worst state for savers...as long I as i have decent music system to enjoy the wealth of recordings i own, i'm okay with it:satisfying:
 
Although I don't really mind working, and it's definitely very enjoyable at times, for the last 25 years or so it has really been getting in the way of life...
 
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