Another retirement thread

[Night Elf]

My DH is the only income in our family. I was talking to him yesterday about retirement and he said he planned to work until he was 70 as long as his health permitted. I must admit I'm happy to hear that because I know my DH won't be happy at home with nothing to do. He needs the challenge of problem solving and working with colleagues. He took a week off recently and was bored by the end of it. He's just not a homebody. Isn't it common for people to work beyond age 65? What age do you or your spouse plan to retire? We've had retirement threads recently about if we're prepared for retirement, but have we discussed what we'll do with our time? DH and I do not travel and have no hobbies. I don't expect my later years to be any different than my life is right now. What do people who don't travel, do after retirement?

[Laura Corin]

Is he self employed? Companies often get rid of older expensive employees.

[marbel]

Retirement is different for everyone.  I have known some people who travel but not many. 

 

Some people volunteer.

 

Some people keep working till they can't anymore.  My dad was like that.  He had no hobbies and was only happy when he was working.   My mom was happy to putter around the house and yard, read, do crosswords, and go bowling.  :-)  When her heart started giving her trouble, she had to give up the house and bowling, but she kept reading and in baseball season listened to every game on the radio. 

 

Some get dream jobs.  A friend of mine retired young and works in a winery.  Not much money, but she loves it. 

 

My in-laws just live like they did when they were working, minus going to work.  Their hobby seems to be sitting around "visiting" but they also take short gambling trips occasionally, and live for college football season.

 

My husband and I had originally thought we'd be travelers, but it doesn't look like it's going to work out that way financially.  Honestly I think I'd be happy being home and having time to read, garden, sew, do needlework, hike, etc.  But maybe that would get boring quickly (I'd like the opportunity to find out).  I just turned 60 but have two kids still at home; when they are up and out (or at least driving!), I may end up looking for a job.  

 

In other words, I've no idea what retirement will look like in my house.

 

I would suggest finding some sort of hobbies or interests.  People who have nothing to do when they retire may fade quickly.

[Night Elf]

Is he self employed? Companies often get rid of older expensive employees.

 

No, but he is a highly valued employee so far. He's not the only person he's known who's worked beyond retirement age there. There was one guy on his team who retired at age 67, voluntarily. They also occasionally offer early retirement with a year's salary. He said he might consider that and seek a job somewhere else with one of his numerous contacts. He's had upper management seek him out for his expertise too. He can support an old software system that the company doesn't sell anymore but clients still have long term contracts with them. No one else on his team is as good. They would need to train someone else on that old software and he would be the best one to train them, so he'd have a heads up if anything funny business was going on.

[Night Elf]

 

I would suggest finding some sort of hobbies or interests.  People who have nothing to do when they retire may fade quickly.

 

I've heard that too. My mom is a homebody but tries to mentally challenge herself with research and word puzzles. She has no outside contacts and no interest in volunteering anywhere. My grandmother is 93 and has a few social outings she looks forward to each month, but for the most part, she's been a homebody in her retirement.

[marbel]

I've heard that too. My mom is a homebody but tries to mentally challenge herself with research and word puzzles. She has no outside contacts and no interest in volunteering anywhere. My grandmother is 93 and has a few social outings she looks forward to each month, but for the most part, she's been a homebody in her retirement.

 

I think being mentally challenged and getting physical exercise are really the most important things.  Some people are just homebodies!    I've read that social interaction is really important too but I am not sure that is universal. (Well, I suppose nothing is really universal.)  My mom had little social interaction but she was happy, mentally sharp, and mostly healthy when she died at 85.  

 

Now that I'm thinking about it, she spent her last few  years in an independent living retirement home, but she didn't take most of her meals in the common dining room.  She was quite shy and an introvert.  So most of her social interaction was with my family, and we didn't see her daily. 

 

[elegantlion]

My dad worked until he was nearly 70. My parents didn't do much, they would go to auctions and that was as much of a social outlet as anything. they had one restaurant they ate at on a regular basis, as did a lot of other retired people. They created friendships there. My dad either liked to go or just stay at home and do nothing, no in between. They didn't travel much either. 

[Laura Corin]

No, but he is a highly valued employee so far. He's not the only person he's known who's worked beyond retirement age there. There was one guy on his team who retired at age 67, voluntarily. They also occasionally offer early retirement with a year's salary. He said he might consider that and seek a job somewhere else with one of his numerous contacts. He's had upper management seek him out for his expertise too. He can support an old software system that the company doesn't sell anymore but clients still have long term contracts with them. No one else on his team is as good. They would need to train someone else on that old software and he would be the best one to train them, so he'd have a heads up if anything funny business was going on.

 

That sounds good, but do have a backup plan.  Both my husband and my brother were laid off before retirement age.  It's hard both financially and emotionally.  The job offers that they expected to be there at that age through their contacts were not.

 

FWIW, I used to work for a company in the City of London where there were two IT employees who felt really safe because only they knew about one ancient system.  The system was so intertwined with the more modern systems, that they felt it could never be taken out.  Until the company was taken over by a bigger one which insisted that the systems be changed.

 

[QueenCat]

Probably 67....... which is when he becomes eligible for full SS benefits. Although that's only a small part of the retirement picture, we'd like to start when we can get full access to that particular egg in the basket, or at least no earlier than that. He may switch to part time before that, when he hits Medicare age, which is easy to do in his industry. They're too desperate to let anyone go with expertise in the field that you can pretty much decide to go part time once you've been there about ten years.

[Laura Corin]

I am likely to retire at 67 when I will get my government pension (like SS).  Husband works freelance, so will carry on for as long as he has clients; he turns 60 this year and will get his government pension at 66.

 

In addition, we have a rental property, and may in the future use our house for Air BnB or similar. So we will probably carry on as landlords for a bit longer, depending on our health.

 

I sing in a choir, do yoga, garden and walk a lot.  Husband has fewer hobbies, so I can see him spending more time on the rental properties.

[Lolly]

Dh is working it in gradually. He has dropped the majority of his clients, let all his employees go, moved everything out of his office/warehouse, and t00k over our basement. He and I now run a much smaller version of his business. It is enough to provide a bit of income and have a little something to transition him from working 24/7. He is liking being home. I love him being here. We have done a little traveling. Mostly visiting the kids at college. Lots of home/yard work. A fair amount of hiking. I hope that increases as the weather turns! He is 53. I was going to start working after ds graduated last year. I dropped that plan when dh decided to come home right about that time. I do think his timing was perfect. I had just worked myself out of my homeschooling job, so we are both transitioning away from what was our norm.

Edited April 1, 2016 by Lolly

[Scarlett]

Dh will have to work until at least 67. I plan to work more when I get ds16 fully launched.

 

We really have no plan for retirement other than keeping our expenses low. Just doimg the best we can.

[G5052]

I enjoy my work and plan to work as long as possible. I have a collegue at the college I work for who is 86.

 

DH likely will retire at 63 or 67, maybe sooner though. Seniority-wise, he could retire now, but wants to go a little longer.

Edited April 2, 2016 by G5052

[The Girls' Mom]

My dh only hopes to make it to typical retirement age at his job.  His health will probably force his hand much sooner.  *I* am the one that will probably work until I'm 70.  I'm starting a brand new career at 40 so he can retire early.  He'll probably still do stuff though.  He refurbishes old tractors and resells them as a hobby, so I see him doing something similar.  Just things to keep him busy when he feels up to it.  

 

My FIL retired at 62, but has continued to work various part-time jobs. 

 

[Lady Florida.]

Yes, it's common for people who are financially able to retire to continue working if they like what they're doing. As others mentioned, there's also self employment or volunteering. Some friends and I joke that all retired husbands are sent to work part time at Home Depot. We know 3 men who retired then went to work there so it's our running joke for when our own husbands retire.

 

Dh likes to piddle around the garden and he does some woodworking. I imagine he'll do more of that when he retires. He also likes to watch tv and I'm afraid he'll do too much of that as well.

 

MIL and FIL were socially and mentally active but not physically active. I do believe it contributed to her health problems and her death. You don't need to be doing high-powered workouts at an advanced age, but staying as physically active as your body will allow is important.

[Annie G]

Dh loves his job but it's very stressful. He plans to retire from that job at 60 but find something much more low key (and low pay) for fun.  He's a test engineer but would love to go back to working a job he had as a teenager at an auto parts store. It would keep him busy and engaged but without the stress.  

I can't imagine him being bored in retirement.  He has so many interests but not enough time to pursue them. He enjoys reading, home improvement, politics, everything Corvette, history, travel, model building, antiquing, playing the drums, astronomy, etc. 

 

A couple we are close to both still work full time, though not at high stress jobs.  The husband is 75 and the wife is 66.  They hope to never retire as they love working. But dh and I aren't the 'live to work' kind.  We're more of the 'work to live' kind of couple.  Different strokes for different folks, ya know. 

[bettyandbob]

People in my family are working well into their 70s.

 

Dh does not expect to retire voluntarily. I expect to work as well.

[Storygirl]

My dad still works almost full time at age 82. He owns his own accounting business, but my brother works there and runs the office, so Dad goes to work every morning and stays until whenever he gets tired in the afternoon. He doesn't want to retire. We don't plan to follow in his footsteps. My in-laws have a busy and productive and enjoyable retirement, which would be our model.

 

We don't have an age in mind for DH to retire, but earlier is better. Alzheimer's runs in my family, unfortunately. Mom was diagnosed while still in her sixties, and she entered full time residential nursing care at age 73. Her mother was also incapacitated by Alzheimer's by the time she was in her seventies. DH and I hope to be able to travel and enjoy time together while we are still younger, because it may not be possible later on. By the time our youngest is through college, we will be in our sixties. We're hoping that DH will be able to retire soon thereafter. We are in good financial shape at this point, but we know that things can change.

Edited April 1, 2016 by Storygirl

[SKL]

My dad retired around age 65.  He worked in a factory and had health issues that made it hard to get up and out every day.  He did keep up a gig or two part-time for a while, and he has hobbies.  Though many of his hobbies hurt too much now.  :(  He also has a lot of anxiety as he gets older.  I don't think he would be happier working now.

 

My mom was diagnosed with colon cancer and had to have a lot of stuff removed at age 60.  Then chemo and radiation and more complications and surgeries.  Now she is having serious problems with her eyes.  She also had scoliosis all her life.  Mentally she would like to go back to work, but physically it probably isn't in the cards for her.

 

Myself, I am really too young to predict.  I have to work 18 more years to qualify for regular social security income.  Some days I feel damn exhausted, but that could just be because of the stresses of the moment - long work hours, half-grown kids, menopause.

 

Realistically, I don't foresee just ceasing to work, but maybe if I'm lucky I would be able to phase it out as I get older.  Or maybe I'll just keep working until I drop at my desk.  It could really go either way.

 

I am a partner in a business, so I don't have a set retirement track.  I do have things I'd like to do for leisure if I could ever cut my work hours. What I do now is too much for a single mom, and it would be too much for a tired retiree too IMO.

[JustEm]

Honestly, if it is possible for dh to retire from full time work in his early 50's then that is what we'd do. We'd both likely be self employed part time and do more travelling. So far we are on track for that but of course things always come up.

 

I'd also start volunteering more. I'm not sure what else dh would want to do.

[FaithManor]

Dh will work until 62-65, but retirement for him won't be just staying home. He'll still be a 4-H volunteer, and will do charitable IT work as well along with some tutoring.

He will take pay for the tutoring, and also any woodworking he does as well. I may throw out my shingle and teach some music lessons again, we'll see. I'm going back to work in the fall to help finance college for our three sons so have at least six years of that ahead, and then will decide if I want to continue with that job or find a different one. I will continue to earn though until I'm 60 anyway and put everything beyond what we pay for college into my IRA. I plan on doing a lot of volunteer work and quilting once I don't need the income so much.

[J-rap]

In a perfect world, I'd do it like my father did.  He was an engineer who retired at around 67, but then got trained as a tax preparer and worked about 5 months/year for H&R Block until he was about 85.  (Just a few years ago.)  That was perfect for him, because he likes to be extremely busy, but the H&R job wasn't all year and it gave him both the extra time and resources for he and my mother to take some great yearly trips.  He is now 88 and is still a tour guide at a museum, vice-president of a big metropolitan garden club, board member at church, and driver for Meals on Wheels.  He is also an (as of yet unpublished) author.

 

My dh was forced into early retirement due to a disability, but we are hoping that someday he'll make it back to work again.  If he does, we'll both be so excited that he'll probably work for the rest of his life, and that would be fantastic!

[madteaparty]

The terrifying thing I'm seeing now is people being laid off within 10 years of claiming social security. Looking for a job at 55, 60 years old seems daunting.

[Laura Corin]

The terrifying thing I'm seeing now is people being laid off within 10 years of claiming social security. Looking for a job at 55, 60 years old seems daunting.

 

It is.

[lllll]

There is no plan, at the moment.  I'm hoping he works as long as possible, at anything he can find, because he definitely doesn't enjoy staying home for extended periods of time.  Whether we need the money or not, he just needs to work to stay out of trouble.  ;) 

[Carol in Cal.]

One of the coolest retirement stories I know of starts with a layoff.

A friend of ours was laid off from a defense contractor before he really planned to retire.

So he found a job at a local hardware store, and worked there for two years.  He used the 30% employee discount and the reduced commute time to work on their house, tuning it up to perfection.

Then his old company was asked to provide service on some older systems that they didn't have any current expertise in.  They asked our friend to come back, bought his house from him, gave him a huge raise, paid for him to move across the country plus all closing costs on his new house, and gave him a big bonus to stay on the job for two years.  They took this offer and were absolutely SET.  It was sweet.

[ErinE]

The terrifying thing I'm seeing now is people being laid off within 10 years of claiming social security. Looking for a job at 55, 60 years old seems daunting.

 

My parent was laid off around this age, but was able to gain new computer systems skills that leveraged off industry knowledge and is now employed full-time. My parent intends to work until 68 or 69 then pick up contract jobs until there's no longer interest.

Edited April 1, 2016 by ErinE

[ErinE]

I will probably work as long as I can as my family is extremely long-lived. I had two great grandparents live into their nineties, one was close to 100. The others passed away in their 70s, a long life expectancy for their birth year. My living grandparents are both 90+ and the two who passed away were in their late 80s. I lost a parent who was 65, but I believe it was due to a failure to take care of personal health. 

 

DH will probably want to retire around the traditional age, but he's someone who would be actively involved in some organization or charity.

 

Spending a few months out of the year working at Disney would be fun. Also, many retirees watch over state park camp sites. That looks interesting as well.

[MomatHWTK]

My DH's job is high stress and lately requires a great deal of overtime. So he will retire to be free of the strain. But we have plans in place for us both to transition to self-employed mode. I am already doing some freelance work and DH is building skills and networking so he will be prepared.

 

[HS Mom in NC]

My husband is self-employed and contracts as a consultant and software programmer.  He plans to work until he physically or mentally can't. He's basically a computer programming linguist as he's mastered the ability to program in many computer languages.  He keeps up to date with the most current relevant technological developments and skills.  This is good for his future career prospects and for his brain. 

We've paid off all out debts and are temporarily renting until we can buy acreage within a few years and have it payed off by the time he's in is mid 50s at the latest, but very likely earlier.  I grew up on a farm where we raised our own beef.  We plan to raise our own food, have our own alternative power supply(ies) and our own water supply.  We don't want to be far out of civilization, but we want to be as self-sufficient as humanly possible and that requires some land. Our young adult children and their S.O.s are planning on going with us.  The SOs are my husband's interns. Middle daughter keeps the books for us.

We hope to add a couple of  tiny/very small houses to the property to help with adult dependent care and then as an option for rentals if need be.

We're transitioning to a more plant based, high quality nutrient diet and increasing our daily exercise.

[Artichoke]

Dh plans to do freelance work after he retires from his current employer. Right now, we're hoping he'll be able to be employed there that long. We're also in the process of purchasing our first rental home to help fund our retirement. If that goes well, I can see managing rental properties as part of our future retirement.

[Jenny in Florida]

I'm only recently back into working for pay. I fully intend to work until at least 65, longer as long as I can keep going. Once I feel like I've done my duty and helped to make up some of the financial ground we lost while I was home with the kids, I'll be content to devote myself to old-lady hobbies like crochet and reading and baking and (I hope) hanging out with a grandkid or two.

 

I'm not sure what will happen with my husband. He's the same age I am (51), but he's not holding up well physically. He has chronic back pain from an injury he had back in his 20s that is only getting worse as he ages. In just the last few years, we've seen him getting more fragile in a variety of ways. He has an office job, but even driving to and from work takes a toll on him. 

 

I cannot imagine him hanging out at home with nothing to do day after day. (He has few hobbies and interests outside of watching TV and role playing games.) But I also honestly don't know how well he'll weather working for another 15-20 years. It concerns me when I allow myself to think about it.

Edited April 1, 2016 by Jenny in Florida

[SKL]

The terrifying thing I'm seeing now is people being laid off within 10 years of claiming social security. Looking for a job at 55, 60 years old seems daunting.

 

I used to worry about that a lot.  That is why I kept scrimping and saving after I paid off my loans and could have afforded a few modest luxuries.  I could have lived off my savings when I quit my previous job.  But then the markets crashed and even money market interest rates went to hell.  It's truly a scary world we live in.

 

I try to just take one day at a time, because worry never solved any problems.  I try to embrace uncertainty, because it means things can go either way.  I try to tell myself I'm tough enough to fight through anything.  But none of that means I feel secure.

 

[Random]

My DH is the only income in our family. I was talking to him yesterday about retirement and he said he planned to work until he was 70 as long as his health permitted. I must admit I'm happy to hear that because I know my DH won't be happy at home with nothing to do. He needs the challenge of problem solving and working with colleagues. He took a week off recently and was bored by the end of it. He's just not a homebody. Isn't it common for people to work beyond age 65? What age do you or your spouse plan to retire? We've had retirement threads recently about if we're prepared for retirement, but have we discussed what we'll do with our time? DH and I do not travel and have no hobbies. I don't expect my later years to be any different than my life is right now. What do people who don't travel, do after retirement?

 

My grandfather had a military career and retired in his 40s, I think.  He got bored and went on to a second career as an engineer, which enabled him to travel the world.  He retired in his late 60s, (I think) and got bored.  He then started his third career as a master gardener and eventually a very successful vintner.  He retired from that in his early 80s, and upon his wife's insistence, did not start a fourth career.

 

My point is, he was bored in 'retirement' and began secondary and tertiary careers for fun, which became sources of income.

 

My grandmother's life and role has not changed much, at all.  She is very happy with her routines.  She doesn't like travel or have any hobbies, that I know of. 

[Chris in VA]

Dh will have 30 years as a priest in about 3 years, when he's 57. He could technically retire with a very good pension.I know he'd like to work in Jerusalem for a few years--there's a position that comes up every 3-5 years that he has his eye on--it's just been filled and so I'm thinking we may try to head on over there when dd is out of college. (He could take his retirement and still work somewhere else.)

After that, I expect he'll try to teach or fill in for absent clergy from time to time.

 

For me, I'm only working part time, and have only worked part time with the exception of 4 years at the beginning of our marriage. I still have some good teaching years left in me, but I think I'd like to write a couple of books (yeah, everyone says that...lol) and maybe do some online teacher education. OTE is really lucrative if you can get enough awareness of your workshop offerings. It would be nice to record some talks and make some handouts, and then sell to teacher clients who need continuing ed credits. I would consider myself retired at that point--it would be somewhat of a paid hobby.

[Kari C in SC]

Well... Our plan makes us look like slackers! We are actively paying off our rental properties and hope that dh can retire from being a mechanic for the state somewhere between age 53 and 55. Our youngest will be 18 right around then, so I guess I will be retired too. We will probably start some renovations on rentals and hopefully travel a bit. But I don't see plans for another job in our future. We will sleep in, putter around and I will not cook!

[JustEm]

Well... Our plan makes us look like slackers! We are actively paying off our rental properties and hope that dh can retire from being a mechanic for the state somewhere between age 53 and 55. Our youngest will be 18 right around then, so I guess I will be retired too. We will probably start some renovations on rentals and hopefully travel a bit. But I don't see plans for another job in our future. We will sleep in, putter around and I will not cook!

I don't see that as slacking. I see that as planning to enjoy a life without needing to work. That is my dream! I'll still be productive but entirely on my terms.

[Annie G]

I don't see that as slacking. I see that as planning to enjoy a life without needing to work. That is my dream! I'll still be productive but entirely on my terms.

 

I really like the way you phrased that- productive entirely on your own terms.  That's exactly how dh and I feel but almost all of our friends seem to think we're slackers or quitters or something if we're not working a regular job.  I quit working two years ago. Everyone kept asking me if I was 'ok' and sent me dozens of job leads.  Telling people I'm renovating our house full time and want to be available to help my aging inlaws is just not seen as productive to a lot of folks. Grr..

 

This week my last boss sent a text asking if I want to come back to work for a few months since I'm not 'doing anything else'. 

[Rosie_0801]

I really like the way you phrased that- productive entirely on your own terms.  That's exactly how dh and I feel but almost all of our friends seem to think we're slackers or quitters or something if we're not working a regular job.  I quit working two years ago. Everyone kept asking me if I was 'ok' and sent me dozens of job leads.  Telling people I'm renovating our house full time and want to be available to help my aging inlaws is just not seen as productive to a lot of folks. Grr..

 

This week my last boss sent a text asking if I want to come back to work for a few months since I'm not 'doing anything else'. 

 

Tell them you're taking carer's leave.  :glare:

[JustEm]

I really like the way you phrased that- productive entirely on your own terms. That's exactly how dh and I feel but almost all of our friends seem to think we're slackers or quitters or something if we're not working a regular job. I quit working two years ago. Everyone kept asking me if I was 'ok' and sent me dozens of job leads. Telling people I'm renovating our house full time and want to be available to help my aging inlaws is just not seen as productive to a lot of folks. Grr..

 

This week my last boss sent a text asking if I want to come back to work for a few months since I'm not 'doing anything else'.

I am far from retirement age, only 29, but most of my friends, wide age range from 25 to mid 40s, don't understand my drive for dh and me to retire early. They think I'm wasting my energy to eventually just lounge around and do nothing all day. They lack the imagination to realize what else is out there and available to you if you seek it. I don't think there is anything wrong with wanting to work for as long as you can but if you can't fathom how someone chooses to stop working and remains productive you may need to be a little more open minded.

[nd293]

The couple across the road do church stuff or family stuff or garden.

 

My 72 year old mother does a lot of volunteer work, especially environmental (committee stuff and active stuff like dune rehabilitation), and has taken up kayaking (because being clumsy on land isn't dangerous enough...).

 

Dh's mother mostly smoked, it seemed to me!

 

Dh will work until 70 if he has his way. He loves work and should be able to work as a contract engineer for many years as long as he stays on top of changing technology. If I manage to get a job after graduating I will work as long as possible. The only thing about getting old that really scares me is not being busy. I'm introverted which means that a lot of volunteer opportunities really don't appeal. One thing I imagine us doing is spending a few years living in a low cost country to help make our retirement money go further at home later on. Somewhere that involves long beach walks, hours in cheap cafes and lots of quiet time reading...