Somebody actually looked at one of my posts this week, and no, I did not pay the person to do so.
OK, now a real retirement question – when to retire? I suppose there will be different perspectives depending upon whether you’ve already retired, are seriously thinking of retiring soon, if you’re way off from retiring, or whether you’re having so much fun with your job that you’re not thinking of retiring.
Is there a nest egg threshold you’re trying to achieve?
Planning on a certain age?
Is it a two-part answer with one part being when your spouse retires?
Just got tired of working?
Did it just hit you one day?
Or something else?
By the time someone reads this, I will have probably come back to update this post with where I am at on that decision. But for now, my next “blog priority” is to go tell some friends I have a blog and am looking for some opinions.
My recommendation is do not retire until you think that you are ready. If you don’t have any idea what you are going to do with all of your new free time, that may be a sign that you are not ready.
“When to retire?” Makes for a great prayer request.
If you’re not having fun with your job, then that makes it a lot easier to retire. Think of “opportunity costs”…what you could be doing if not at work.
A nest egg threshold plays an important part…as does debt, eg. home loan? Wise people retire without a house payment.
Planning on a certain age? Nothing in the Bible about retiring at any age. The answer to this question is largely dependent on one’s health – physical and financial.
Surveys shows it is better for spouses to retire together… if they get along with each other…and know something about how each day’s activities will play out…how much personal time and space are required, ETC. Make sure your typical retirement day schedule does not come as surprise to your spouse.
After retirement, it is not as much fun to fish or play golf on the weekdays as it was when you were working…because you aren’t “Playing Hooky.”
When I was forced to start teleworking every day almost a year ago, Beth was concerned I was going to drive her crazy. And it’s sort of been practice for when I really do retire. She’s been pleasantly surprised that I haven’t driven her crazy.
Going back/forth with the fun at work with the FAA. Some days it’s quite fulfilling, then all of a sudden I get slammed for a few days.
When you get a few minutes, check out the Health post (#5). Sorry, but I didn’t talk about knee replacements. You’re going to have to educate us on that.
For me, the work was not fulfilling…a continuation of what I had been doing (PM). What tipped the decision (after careful financial consideration) was that I had an opportunity to spend more time with the grandkids, especially the youngest. The family aspect played a big role.
If you have hobbies or outside interests (golf, etc) you can be as busy as you want. There will be days where nothing gets done…but you worked hard for 40 plus years to sit and read a book or binge watch a show. While retired, time has passed just as quickly.
Another element I’d be curious to read more about: does, can, or should your career achievements (e.g., sales milestones, promotion level, pay level, projects completed) play a role in deciding when to retire?
DB, you’re making me want to drive back down there and talk more about the retired life. So it’s OK to spend a whole day and not do a single productive thing? Hmmm, never thought of that. I think you’d agree that spending time with grandkids falls in the productive category!