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When did you retire (what age), and what was the deciding factor that made you retire at that time—finances, health, job satisfaction, family needs, benefits timing (pension/SS/healthcare), or simply “I was done”?
Looking back, was it the right age for you, and would you do it the same way again?
Jeff
I had known for years it would be time. I’d be eligible to retire from my second career after 15 years with the company, at which time I’d be 59. As that time arrived, I liked my job well enough, but we were living somewhere we didn’t care to be, and couldn’t seem to get moved. We decided that if the 15 year mark rolled around and I wasn’t either posted to somewhere we wanted to be, or in a role that was amazing, I would leave. Neither of those happened, and we had already decided we had “enough”, so I executed.
I just retired at 63 1/2. Unlike many people in this form, I didn’t like my job and my line of work doesn’t transition well to part time. I had pursued a good career out of High School (and college) so that I could have an easier life and retire early. Not super early. I think I had 62 in the back of my mind. When I turned 62, I thought about my father who had retired at 62.5, so I thought I could make it another 6 months. About this time I saw a financial consultant who said my plan was unconventional but I should be OK. I kept reading about how much money people had saved, which seemed like too much, and worked another year. For me, I felt like there was a bigger risk that I wouldn’t have the time to enjoy my savings then the risk I would run out of money. There is no way to know if I made the right decision until it is too late, and anyway, so many things are beyond my control. The somewhat interesting thing, is that there are so many variables, that there is no “crossing line”. For me, I had to pick a time, and that is somewhat arbitrary. I found it more stressful than I thought it would be.
I see by these comments that a number of people retired several years before I did. Glad it worked out for them.
I didn’t have any desire to retire before I did, but no matter, I couldn’t afford to do so in any case.
When I was 55 our youngest child just graduated from college. Over the next ten years or so there were four weddings – one girl, but they were all treated the same way money-wise.
There were two mortgages too. And then came the grandchildren year after year.
In some ways family determined when I retired. No complaints or regrets. We would never be in the place we are and able to help children and grandchildren if I had set my sites on retirement in my 50s or early 60s.
It just points out how individual and personal the retirement decision is.
I retired in 2022 on my 55th birthday. There were many reasons for choosing that date/age, but one contributing factor was access to an early-retiree health care benefit my employer offered.
It was absolutely the right age for me. I love that I still have the energy to do the things I am passionate about (train dogs). As someone who has always preferred solitude to being with others, I cherish the days where I can stay home and do whatever I want.