Yesterday (Jan 31st) Was My Retire-versary. 26 Years And No Regrets. What About You?

OneEyedDiva

OneEyedDiva

SF VIP
Location
New Jersey
I can't believe that 26 years ago yesterday was my official date of retirement, though I stopped going to work about 10 days before, using the rest of my vacation and personal time. These years have gone by so fast ! I had planned to retire at age 52 but wound up doing it at age 50, one month before my 51st birthday when I realized I had more than the required 25 years with the pension plan. Blessedly, the city and state had the same plan. I held various positions in the same office, first for the city then the state. And for retirement purposes, the State considered me to be 51 when reducing my pension by 3% for each year before 55, so I took a 12% cut instead of 15%. Of course, I couldn't collect social security for another 11 years.

I didn't have the amount saved that I had hoped and I had to work magic with my budget, but I never regretted retiring when I did. I even managed to keep saving and investing. I had health issues, plus my mother was elderly and needed more of my help, so it was time. My co-workers thought I was crazy and doubted I could make it. Living where we do was a big factor in being able to retire early, as was my retiree benefits package.

What about you? Retired happily or regretfully? Planning to retire in the near future?
 

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Congratulations!!!

I’m coming up on 20 years this May and have been very fortunate.

I started working in 1974 and continued through several mergers until 2005.

If I hadn’t gotten the boot, due to a corporate merger, I probably would have kept on working and worrying for just one more year…😉🤭😂
 
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I stuck it out until 55, though the last few years had become routine and the overhead of layers of "little mothers" bean counting everything became oppressive as creativity and innovation died. "Big picture" thinking was reserved to upper management parroting "big budget" consultant recommendations as in-house talent and experience was ignored. Put your head down, be a drone, file those TPS reports.

Offices were gobbled up and consolidated, and literally became highly feminized. Most of the "mustangs" bailed to join start-ups unless family and other roots impeded mobility and left them miserably stuck in a bureaucracy. By the time I left things had flipped, and the office was now 80% female and afraid of challenges. The opposite of how it was when I had started.

There are many reasons why we haven't returned to the Moon, and this is a big one.

But cutbacks were coming, and an early retirement incentive plan was devised. I think they were shocked when nearly all of the remaining guys took it, walked out, and never regretted it.

I lost a $50K payout over a technicality I had tried for years to get a ruling on. However I had banked leave time and other deferred assets I could trade to buy previous work history credit from both University and even High School employment such as it was. With the incentive "sweetener" my pension would be doable since I was within a year of paying off the mortgage.

So I'm doing ok, still saving each month, and deferring SS until 70. As savings piled up and interest rates had risen I pulled in 1/5 of my pension last year from that alone. We'll see how the 401k goes, I haven't touched that yet.
 
OneEyedDiva said:
I can't believe that 26 years ago yesterday was my official date of retirement, though I stopped going to work about 10 days before, using the rest of my vacation and personal time. These years have gone by so fast ! I had planned to retire at age 52 but wound up doing it at age 50, one month before my 51st birthday when I realized I had more than the required 25 years with the pension plan. Blessedly, the city and state had the same plan. I held various positions in the same office, first for the city then the state. And for retirement purposes, the State considered me to be 51 when reducing my pension by 3% for each year before 55, so I took a 12% cut instead of 15%. Of course, I couldn't collect social security for another 11 years.

I didn't have the amount saved that I had hoped and I had to work magic with my budget, but I never regretted retiring when I did. I even managed to keep saving and investing. I had health issues, plus my mother was elderly and needed more of my help, so it was time. My co-workers thought I was crazy and doubted I could make it. Living where we do was a big factor in being able to retire early, as was my retiree benefits package.

What about you? Retired happily or regretfully? Planning to retire in the near future?
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Holy mackerel! I have celebrated 13 years of retirement and I'm soon 78. I retired regretfully. I'm bored with nothing to do. I can't decide if I want to take up booze or drugs. I think I'll start with booze. It's easier to regulate. I know what to expect from a glass of wine or beer. Taking a toke, a snort, or a jab could lead anywhere ..... no thanks.
 
5 years! Goodness it has flown by!

My plan was to gradually cut down my working hours and ease myself gently into retirement but, of course, life had other plans; Covid arrived and the company I had worked for closed down.

One of my ex-work colleagues started a WhatsApp group so we could all keep in touch. Of course, the younger folk in our group are now working again or, at least, job hunting but, for those of us who were edging closer to retirement anyway, it has worked out fine and I'd be surprised if any of us would be keen to return to the workplace.

As is probably evident, I am very happily retired :)
 
OneEyedDiva said:
I can't believe that 26 years ago yesterday was my official date of retirement, though I stopped going to work about 10 days before, using the rest of my vacation and personal time. These years have gone by so fast ! I had planned to retire at age 52 but wound up doing it at age 50, one month before my 51st birthday when I realized I had more than the required 25 years with the pension plan. Blessedly, the city and state had the same plan. I held various positions in the same office, first for the city then the state. And for retirement purposes, the State considered me to be 51 when reducing my pension by 3% for each year before 55, so I took a 12% cut instead of 15%. Of course, I couldn't collect social security for another 11 years.

I didn't have the amount saved that I had hoped and I had to work magic with my budget, but I never regretted retiring when I did. I even managed to keep saving and investing. I had health issues, plus my mother was elderly and needed more of my help, so it was time. My co-workers thought I was crazy and doubted I could make it. Living where we do was a big factor in being able to retire early, as was my retiree benefits package.

What about you? Retired happily or regretfully? Planning to retire in the near future?
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Oh I just realised! We are almost retirement twins! Five years ago, I retired on 31st January too! :)
 
Inept said:
Holy mackerel! I have celebrated 13 years of retirement and I'm soon 78. I retired regretfully. I'm bored with nothing to do. I can't decide if I want to take up booze or drugs. I think I'll start with booze. It's easier to regulate. I know what to expect from a glass of wine or beer. Taking a toke, a snort, or a jab could lead anywhere ..... no thanks.
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Well, I eased into it.

Took care of issues around the house first, after 3 months took on small contract work off and on for several years. Expanded on some hobbies, did some travel looking at real estate and communities... exploring retirement relocation possibilities. Got involved on the fringes of local government before running away from that mess. There is so much money from outside sources influencing local policy that it is just miserable to have a close-up view of things.

I went back to a focus on hobbies and family.
 
Inept said:
How did that go?
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Not so great in the end. These were mainly small towns in very nice but remote locations. Slower pace, lots of surrounding nature, low costs of living, and far less "keeping up appearances." But they were already far down the slide of decay in the aftermath of the Great Recession, and many stores and other amenities cut back or closed as the working-age populations fled to find employment elsewhere. Many had a mine and/or one or two small manufacturing plants, and when those closed it really hurt. You can't survive on just service industry jobs and when tourism slows as well you are sort of doomed.
 
dilettante said:
Not so great in the end. These were mainly small towns in very nice but remote locations. Slower pace, lots of surrounding nature, low costs of living, and far less "keeping up appearances." But they were already far down the slide of decay in the aftermath of the Great Recession, and many stores and other amenities cut back or closed as the working-age populations fled to find employment elsewhere. Many had a mine and/or one or two small manufacturing plants, and when those closed it really hurt. You can't survive on just service industry jobs and when tourism slows as well you are sort of doomed.
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I see your point.
 
My 11 year retired anniversary is coming up on February 28. I retired at 61. I don't have any regrets, but 11 years later I realize I saved too much and could have retired sooner. It took us two moves to find our ideal retirement location, but we are there now. I have never been bored, I have many many friends and hobbies in retirement. Played golf in our couples golf group this morning, went to lunch with a group of 22 friends, tonight we host a Trivial Pursuit night.
 

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