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Old 07-10-2015, 03:43 PM   #31
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This link is another great resource. While it is a bit biased to early retirement there is some great info anyone. I've been on the forum for a couple of years now and the members are a lot like this forum in contribution, commitment, and expertise with a little humor along the way.

Early Retirement & Financial Independence Community
This site, although most likely very informative, applies mainly to the USA.
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Old 07-10-2015, 07:19 PM   #32
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My two cents. We tend to worry too much and plan too little. Check out some numbers about spending by age bracket. My guess is you will find that spending increases early in retirement and declines from there and about mid to late 70's drops quickly. I can say I have seen this happen with retired coworkers that are at least a decade older then myself.
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Old 07-10-2015, 07:28 PM   #33
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I started my retirement counting sheets of TP.
I've relaxed since.
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Old 07-10-2015, 07:33 PM   #34
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Originally Posted by Otter View Post
My two cents. We tend to worry too much and plan too little. Check out some numbers about spending by age bracket. My guess is you will find that spending increases early in retirement and declines from there and about mid to late 70's drops quickly. I can say I have seen this happen with retired coworkers that are at least a decade older then myself.
I too think this and have factored it into our plans. Thirty years ago when we started saving for retirement, I said "that's when the real party starts." Well, the party's in progress and boy am I glad we had that attitude when we were first married. Far from rich, but security is worth millions. In 20 years, we'll likely not have the energy to do nearly as much as we are doing today and that's just the normal course of events. Wel'll spend our time reminisicing (if our memories hold ).
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Old 07-10-2015, 10:42 PM   #35
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I've really appreciated reading all of the retirement thoughts on this thread. My biggest issue is deciding when to pull the trigger and actually retire. Liz is already retired. She and others in my family think I should pull the trigger and retire ASAP: we've been edging towards April 1st (April Fool's Day) next year with me having just turned 62. Our financial planner says that eating pet food is not going to be part of our future if I quit then and that all will be well.

How much one should have in retirement seems like a very subjective, personal issue. I was getting settled on an April 1, 2016 retirement date. And then Greece (the country) started becoming a big news item and it seems our portfolio was impacted. Now I'm hearing about China and their stock market, and people talk about a Lower Mainland BC real estate bubble bursting, then the price of fuel seems to do nothing but go up. And part of me muses that it would be stupid to choose to walk away from secure employment.

And then there is the whole self-image thing of leaving very interesting, albeit stressful employment in criminal justice and choosing to become ..... retired..... no more passwords, no more interesting issues and challenges.

And so I work at evaluating issue things like: what if the stress of working longer has a negative effect on my health (emotionally, physically, spiritually). why not quit now, travel with our 17b enjoying these years with my beloved and my family because who knows what kind of troubles (health/disasters) are brewing and waiting for any us.

So I'll keep reading this thread and watching our financial portfolio and continue to make tentative plans to pull the retirement trigger on April Fools Day 2016. We are picking April1 to give us a month to decompress into my retirement and plan for a extended SLOW road trip starting in May. Leaving from home here in Maple Ridge east to explore Alberta then south into Montana, Wyoming then West towards the U.S. Coast and then back north to home.
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Old 07-10-2015, 11:23 PM   #36
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No more challenges when retired? Difference is YOU get to pick the challenges you want to deal with. Most of the retired people I know are amazed they ever had time to work full time once they develop their interests and hobbies (for which they never had time before.) I retired at 56 (target was 55) and survived the market slump that started in 2008 just fine, since I have patience and faith in the stock market. Decided to start a hobby business and hired my wife to do the books when she retired! She decided to learn to play the cello at 65........................retirement is what you make it!
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Old 07-11-2015, 01:06 AM   #37
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As usual, I'll be the miserable SOB.
I retired early because I wasn't sure which would go down first, the newspaper I worked for, or my health. They offered 18 mos. salary to get rid of me.
Do I miss it? I miss the newspaper I worked for ten years ago. I don't miss what the newspaper business has become. Can't complain, because I had 45 of the best years.
I miss the adrenaline of getting a call at 4am to get to the airport for a charter flight to cover a major news event. My life was being ready for anything that may happen.
Now that I'm retired, I'm not always sure what day it is, and it doesn't matter anyway.
Would I rather be 29 years old?
I don't know, I'd probably have a mortgage.
What I've learned is that you want to enter retirement in good health and mortgage free and with a decent tow vehicle.
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Old 07-11-2015, 02:01 AM   #38
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Would I rather be 29 years old?
Would I rather be 18 again? If it were 1974 again, I'd say yes-- I'd like a few do-overs. But I wouldn't want to be 18 in 2015. Young people today will probably have to deal with challenges in their lives that I didn't and won't have to face.
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Old 07-11-2015, 07:13 AM   #39
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Would I rather be 18 again? If it were 1974 again, I'd say yes-- I'd like a few do-overs. But I wouldn't want to be 18 in 2015. Young people today will probably have to deal with challenges in their lives that I didn't and won't have to face.
Same thing our parents would have said 40 or so years ago.
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Old 07-11-2015, 07:56 AM   #40
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I understand one option is to apply for SS at full retirement age (66) and immediately suspend payments. Then your wife can apply for spousal benefits at full retirement (66). Note, both must be done after reaching respective full retirement ages. Your benefits continue to grow until it maxes out at 70, but you could start receiving benefits between 66 and 70. Lower benefit than if you wait till 70 though. Your wife can switch to her benefits, which will similarly continue to grow till 70, at anytime. Her switching depends on her working history, is spousal larger than the benefit.

I hope I have it right. I plan to do this and apply for my benefits between 68 and 70, depending on how savings hold up.

I suggest "Get What's Yours: The Secrets to Maxing Out Your Social Security" by Laurence J. Kotikoff, Philip Moeller & Paul Solman. [Obviously for USA citizens.]

Thanks.
Hugh,
The "file and suspend" plan fits us, too.
I have yet to meet someone who has done it, but we'll be doing just that in less than three years. Glad to have someone corroborate the concept.
Bill
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