Retirement

**Rich Z** · 03-02-2014, 07:10 PM

Well, yesterday I actually felt RETIRED. Got my first retirement check from the state of Florida. I actually retired from the state back in 2009, but didn't see any sense in applying for the retirement benefit too soon.

One of these days I'll get around to filing for social security too, but I think holding off on that a couple more years might be a good idea..... I'm just 63 now. Then I'll be able to afford a really SPIFFY wheelchair when I need one.....

Cor66Vette · 03-03-2014, 10:57 AM

It' a good thing if you're gainfully employed and still putting into the SS system, AND can afford to hold off collecting.

vett boy · 03-03-2014, 05:28 PM

Quote:

Originally Posted by Cor66Vette

It' a good thing if you're gainfully employed and still putting into the SS system, AND can afford to hold off collecting.

I agree and I plan to start collecting at age 70 and yes it'll still be there

Hell I'm in the process starting a new business I'm on a roll .

Mannings · 03-11-2014, 10:48 AM

Rich, It really takes retirement time to sink in. I have worked for the same company for 36 years and began a Consulting roll with them in January. 24 hours a week, decent pay and benefits, training junior Managers. A different way to skin the cat.

I'm 68 now. I calculated the difference between taking SS at full retirement, 67, and holding off until I was 70. It would take 17 years for me to break even, so I took SS at 67. I'm also still paying into SS monthly based on my salary and receiving annual increases.

When you take SS is a big decision based on your personal circumstances, a life long decision.

**Rich Z** · 03-11-2014, 11:36 AM

Yeah, for sure. There are a surprisingly large number of questions that need to be answered at this stage of life that revolve around a formula based on an unknowable variable. Which is, quite simply, "how long will you live".

ironhorse · 04-04-2014, 05:17 AM

I would like to retire soon, but not ready yet. It's called too many bills at the end of the money...

**Rich Z** · 04-04-2014, 11:30 AM

Yeah, I hear that. Fortunately Connie and I never were inclined to get into debt. Credit cards were (and are) treated as 30 day loans. We paid off the house and land long ago. Actually, if it weren't for the extremely high cost of insurances, retiring would be a whole lot easier for folks to do. Which is maybe not by accident.

Mannings · 04-05-2014, 09:28 AM

Oh Boy Rich....you had to say the "I" word.

I've been checking out the options for well over a year and am more confused now then when I started. My biggest problem is that the little lady is 10 years my junior so no Medicare yet. This = BIG $$$.
Next is the mandatory distribution of 401K funds at 70 1/2, where do I invest without giving Uncle Sugar a lot of it?

Retirement isn't for the faint of heart, it's a full time job.

LEJ ZO6 · 04-05-2014, 10:14 AM

At 70 years old I find myself the oldest living male in my family for generations. My Grandfather on my Dad's side passed away at 67. My Dad at 65. My younger brother at 62. My grandfather on my Mom's side died at 47.

I took SS at 62 thinking I wouldn't live long enough to reach full retirement age.

But, here I am, you never know.

**Rich Z** · 04-05-2014, 12:04 PM

Quote:

Originally Posted by LEJ ZO6

At 70 years old I find myself the oldest living male in my family for generations. My Grandfather on my Dad's side passed away at 67. My Dad at 65. My younger brother at 62. My grandfather on my Mom's side died at 47.

I took SS at 62 thinking I wouldn't live long enough to reach full retirement age.

But, here I am, you never know.

Yeah, Murphy's Law can certainly complicated your planning.

I took a look at that ObamaCare stuff, and quite honestly, I just don't understand it. Yeah, OK, you get a tax credit if you qualify. But apparently you will qualify only if you are within a certain bracket of income.

But even if you are in the zone to qualify, how does this tax credit thing work? Don't you STILL have to come up with the money to pay those monthly premiums? And speaking of which, WHERE is that money coming from? Let's not forget that our friendly government is already $17 trillion in debt with no end in sight. So yeah, one hand is supposed to be giving millions of people rather large tax credits, but whose pockets is that other hand digging into in order to PAY for it?

And to be perfectly honest, I really don't like an entity that can't manage their own affairs in order to NOT be skimming real close to bankruptcy being in charge of my health.