Retirement from workforce
- Thread starter Kreskin
- Start date
It's the new 65.
My goal is to get a place to winter. I'm leaning toward Panama
How long can you flap your arms for?
Depends on your health. Some are fortunate and feel good all of their lives. Others develop problems earlier.
Worked for them in 7 different cities. I've been loyal to them and they've been good to me.
55 years 10 months, that was 18 years ago and I've never looked back. Highly recommend it. The trick is to start saving early, I started saving for retirement at age 20. Time is the main factor in accumulating wealth and if you can save at the source, you don't miss the money.
I did, 35 years is plenty, especially as management continued to deteriorate. Three years after I retired the rest of the crew got laid off or transferred out or forced on early retirement. Better to leave on one's own volition! (Consultants who generally knew f**k all were getting all the work)
I couldn't have wished for better treatment when I retired. I got to choose from close to 50 different packages.
Yep, B.C. Gov't Ministry of Highways (at the time) Now Min. of Transportation.
The pay was generally a little less than the private sector, but while I was there we felt we had more security. I never got sent home because thing got slack for a day or two or even a week. We did get other duties assigned when our normal work was slow. I was on a mobile crew so had to be prepared to move on short notice.
and the mortgage on yer pine trailer home will still be unpaid
its called debt slavery
Me, 55 was the magic year, the heart docs told me to slow down, everything is paid for, so lose the worries and stress - though I still do all kinds of fun hobby work to stay busy, have fun and stay revenue neutral...and a lot of cycling to keep the ticker ticking
lol
its nice having computers all over the house too...so relaxing...
and saving early is key...like buying silver at 6 bucks an Oz and selling at forty...then buying at 14...maybe I'll sell some when it hits 600 an oz
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and the mortgage on yer pine trailer home will still be unpaid
its called debt slavery
Me, 55 was the magic year, the heart docs told me to slow down, everything is paid for, so lose the worries and stress - though I still do all kinds of fun hobby work to stay busy, have fun and stay revenue neutral...and a lot of cycling to keep the ticker ticking
lol
its nice having computers all over the house too...so relaxing...
and saving early is key...like buying silver at 6 bucks an Oz and selling at forty...then buying at 14...maybe I'll sell some when it hits 600 an oz
You know all the right tricks.
Thanks JL, yeah, I noticed a while back all the MSM type money advisers are out of business these days because their subscribers all went broke on their advice
so conspiracy theories can actually be better sources of financial ideas...
if one is careful about due diligence and research
also i did sub contract work for some very successful VIPs and they were good about educating me
I agree saving early is key, but now they are penalizing savers with low interest and banker bailouts/currency devaluation, so one has to be a little more aggressive...
I feel sorry for the young folks of today, I don't think they will get the chance
Sure did. I retired at 56 because I'd planned for it carefully for 35 years and could afford it then, and I'd just had enough of being a manager and having to deal with other people's damnfool problems and that pettifogging backstabber in the next office. So when the mortgage was paid off, the children were established successfully, and the last cat died, I was gone. And a good thing too, in retrospect I think I was pretty close to burnout.
Interestingly, my gross income dropped about 30%, but that put me in a lower tax bracket and I was no longer paying into the superannuation fund, or getting deductions for EI, CPP, and a variety of other things, so my net income was not much different, only a few $hundred a year less, which I more than made up for by converting private RRSP funds into RIFs. And since retiring I've been to Scotland, England, Wales, the Netherlands, France, and Germany, bought the high end photo gear I've always wanted, got much better at playing a guitar, bought a lathe and started making pens and bowls and plates and tools for spinners and weavers, I'm thinking seriously of getting a good astronomical telescope and starting to photograph the night sky... Best job I've ever had, doing what I want, when I want, no deadlines, and no pressure but what I choose to put on myself.
If you can retire now Kreskin, I strongly recommend that you do it. I know you have other interests, you won't be bored, and you'll be happier, more relaxed, and live longer.
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Thanks JL, yeah, I noticed a while back all the MSM type money advisers are out of business these days because their subscribers all went broke on their advice
so conspiracy theories can actually be better sources of financial ideas...
if one is careful about due diligence and research
also i did sub contract work for some very successful VIPs and they were good about educating me
I agree saving early is key, but now they are penalizing savers with low interest and banker bailouts/currency devaluation, so one has to be a little more aggressive...
I feel sorry for the young folks of today, I don't think they will get the chance
I don't know a hell of a lot about investing but a little common sense and watching my money managers over the years screw up has taught me a couple of things. Identify your risk tolerance early & be conscious of time horizons. If your risk tolerance is low lean toward fixed income, if it's high lean toward equities but ALWAYS have a combination of each, that way you can switch back and forth to your advantage. That's about the sum total of what I know. One cardinal rule - there is no such thing as fast sure money.