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Old 09-24-2010, 02:14 AM   #1
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Retirement

I'm still thinking about it, but, I've seen a financial adviser, and the company is offering $150,000 to leave on a substantially reduced pension ( as in, can I afford gas for my tow ?). And, then I realized that $150,000 is only 7,500 12-packs of beer.

baglo
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Old 09-24-2010, 07:31 AM   #2
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Re: Retirement

Hi: gbaglo...Glenn. When we got married a 2-4 was $5.50 and my allowance was $10./wk. Now a cheap 2-4 of beer is $26.50 and my allowance is still $10.00/wk. Inflation will pick your pocket...book!!! Alf
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Old 09-25-2010, 08:09 AM   #3
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Re: Retirement

My aged parents are constantly on me to take retirement as soon as I can even if it means not having as much in the future. Their thinking is everyday is a gift and no one is guaranteed tomorrow. What they've found is their mind is willing, but the body is not. If one takes retirement in their early 60s, you really only have about 15 quality years to travel. After that time it becomes more work than pleasure. Doesn't mean folks over 75 aren't traveling, but fewer at that age spend much time away from home. At least not for weeks on end. Grab the brass ring!
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Old 09-25-2010, 01:37 PM   #4
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Re: Retirement

I'm agreeing with Donna.. who the heck knows what tomorrow will bring, but one thing is for certain.. Taxes! So spend the denario now as we know in Glen case, the mind will be the first to go and he won't know whats going later on anyway..
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Old 09-25-2010, 04:36 PM   #5
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Re: Retirement

I heartily agree - Glenn - go for it. As my friend says - retirement is the best job I ever had. You will love it.
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Old 09-25-2010, 05:30 PM   #6
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Re: Retirement

Quote:
Originally Posted by Donna D.
My aged parents are constantly on me to take retirement as soon as I can even if it means not having as much in the future. Their thinking is everyday is a gift and no one is guaranteed tomorrow. What they've found is their mind is willing, but the body is not. If one takes retirement in their early 60s, you really only have about 15 quality years to travel. After that time it becomes more work than pleasure. Doesn't mean folks over 75 aren't traveling, but fewer at that age spend much time away from home. At least not for weeks on end. Grab the brass ring!
There's certainly some truth to that! My problem is, I still really enjoy what I do.... But then again, there are places to go, and things to do, too! A little quandary. Maybe my partner and I could go half time, and alternate months we work He'll work Jan, me Feb, him March, etc. Or, maybe he'll work those 3 while I'm in a warmer climate, then alternate : - ) I get kind of "down in the mouth" thinking about it : - )
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Old 09-25-2010, 08:35 PM   #7
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Re: Retirement

Actually, taxes is the issue. I can shelter about 120,000 but when I take it out it is taxed, and the other 30,000 is taxed now. So, a pension that's about $1,300 less a month at age 62 than it would be at 65, and continues that way until we croak, tends to add up.

Given my health, I would prefer to have the money I earn now and can spend now, rather than sitting in some tiny apartment, looking out the window, wishing I could use more than three sheets of toilet paper. No way I could afford RV toilet paper.

Besides, how hard can it be to take pictures and video for a living?

baglo
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Old 09-25-2010, 09:29 PM   #8
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Re: Retirement

Quote:
So, a pension that's about $1,300 less a month at age 62 than it would be at 65, and continues that way until we croak, tends to add up.
To me the real question is do you need it? It doesn't matter how much you make in retirement if it is enough. What will you do with more than you need? I'd invest some time making realistic predictions & see how it goes...
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Old 09-25-2010, 10:00 PM   #9
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Re: Retirement

Well, if your expenses are $1,200 more than your pension, and your daughter still is at home, going to school, paying her own tuition, about to lose her temp job, and you don't have to time to find out if you can cut your expenses, because there is a deadline to accept the offer.....

I could go on and on, but from what I read, you need to plan your retirement, not be coerced into taking it by the company.

Believe me, I have lots of regrets when it comes to saving for retirement, the house I bought, the stocks I invested in, but I still have had a great job for 40 years and hopefully three more.

And, I've got three more years to make plans.

baglo
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Old 09-25-2010, 10:55 PM   #10
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Re: Retirement

Quote:
Originally Posted by gbaglo
Well, if your expenses are $1,200 more than your pension, and your daughter still is at home, going to school, paying her own tuition, about to lose her temp job, and you don't have to time to find out if you can cut your expenses, because there is a deadline to accept the offer.....

I could go on and on, but from what I read, you need to plan your retirement, not be coerced into taking it by the company.

Believe me, I have lots of regrets when it comes to saving for retirement, the house I bought, the stocks I invested in, but I still have had a great job for 40 years and hopefully three more.

And, I've got three more years to make plans.

baglo'
AND, you've got a great trailer to go sit in while you contemplate it all : - )
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