Regrets postponing retirement too long?

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Jazztonight
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Re: Regrets postponing retirement too long?

Post by Jazztonight »

We don't just retire FROM something. We need to retire TO something!

Planning for a retirement is more than just about how much money you have or need. It's about what you're going to DO all day. And if you think the answer is "golf," I wish you luck.

I started thinking about retirement in my 40s. Now I'm in my mid 70s, having retired "from" my professional job at 66. I hit the ground running, so to speak (I don't run; I walk).

Since that time, I've walked coast-to-coast and written a book about it; I co-wrote a novel that was published; and I edited a previously published non-fiction book for its 2nd edition.

I read the entire Talmud in English (this was a 7.5 year project), took up the flute as a new instrument, and 2 years ago took up the trombone as another new instrument--I practice about 1-1.5 hours/day.

DW and I traveled up until the pandemic hit (we were on a world cruise at the time, but that's another story). I study Spanish every day for about an hour, and exercise in the morning for 30-45 minutes. I take walks with one of several friends 3x/week, correspond (real hand-written letters) with a dozen people around the world, and have taken over all the cooking and driving in our household. Plus I do all the other stuff people do.

If you haven't thought seriously about what you're going to do after you're retired, I'd recommend start thinking about it right now. Retirement is a serious business. Think about it: If you live 22 years after your retirement date, that is a VERY long time! In fact, it's the same number of years that most people take to grow up, finish high school, and get a college degree. Scary, indeed!

Good luck to you, and stay safe.
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visualguy
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Re: Regrets postponing retirement too long?

Post by visualguy »

Jazztonight wrote: Mon Jan 11, 2021 1:07 am If you haven't thought seriously about what you're going to do after you're retired, I'd recommend start thinking about it right now. Retirement is a serious business. Think about it: If you live 22 years after your retirement date, that is a VERY long time! In fact, it's the same number of years that most people take to grow up, finish high school, and get a college degree. Scary, indeed!
True, but I noticed that the perception of the passage of time is very different when old when compared to when young. Time just seems to pass a lot faster. A year seemed like an eternity when I was a student, and now a year barely registers much.

I agree with you on the importance of planning activities for retirement, but not sure I agree that it's necessary to do all that just to pass the time. It's really easy to fritter away time without doing much of anything. Getting up late, some chores, cooking, going for a walk, browsing and reading the news, spending some time on Bogleheads and investments, and your day is gone. Add some medical issues to deal with, and you feel really busy and surprised that you ever had the time to work.
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Stef
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Re: Regrets postponing retirement too long?

Post by Stef »

Thanks OP for this thread.

People often tell me that in pursuing FIRE I'll regret that I didn't enjoy life the way I could. But those people will be the ones that work till 67-70 and I'll be having a great time 15 years before they retire.
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GerryL
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Re: Regrets postponing retirement too long?

Post by GerryL »

JoeRetire wrote: Sun Jan 10, 2021 10:56 pm
GerryL wrote: Sun Jan 10, 2021 10:46 pm
JoeRetire wrote: Sun Jan 10, 2021 9:14 pm
GerryL wrote: Sun Jan 10, 2021 4:35 pm
JoeRetire wrote: Sun Jan 10, 2021 9:52 am Most people have few regrets with the choice they made - no matter if they retired early, late, or "on time".

I do know some widows of guys who retired a bit early and have run since out of money. But I don't believe the deceased husbands had regrets.
There was a time when an employee did not have to get his wife to sign off on his pension choice. My dad's friend was notoriously skinflinty and opted for the simple annuity option so the monthly checks would be larger. After he died, the pension payments stopped, and his widow had to live for years on a much reduced income. Regulations were eventually enacted to require spouses to sign off to try to avoid this kind of situation.
There was a time when most folks retired with a pension...
Yes. But the regulation now also applies to decisions about 401ks.
What kind of spousal signoff is required for a 401k choice?
I'm guessing loans. Cashing out? Changing beneficiary? Anyone know, or am I blowing smoke here?
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22twain
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Re: Regrets postponing retirement too long?

Post by 22twain »

JoeRetire wrote: Sun Jan 10, 2021 10:56 pm What kind of spousal signoff is required for a 401k choice?
Not a 401k, but when DW started taking RMDs from a TIAA 403b plan a year and a half ago, I had to sign off on it.
It's "Roth", not "ROTH". Senator William Roth was a person, not an acronym.
Derpalator
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Re: Regrets postponing retirement too long?

Post by Derpalator »

tibbitts wrote: Sun Jan 10, 2021 4:19 pm
vitaflo wrote: Sat Jan 09, 2021 5:03 pm One option is to just take more vacations now while you're still working. I assume you have time off during the year.
Honestly "take more vacations" is not relevant to 99% of people. I've never met any of these people rumored to be losing vacation days they can't accumulate. Most people get 10-20 annual days of personal leave, plus usually 10-12 holidays, and they take every one. Some people I know in executive positions with the same employer for decades still only get 10 days (as does every other employee in those businesses.) And time off without pay is not an option for the vast majority of people - it's a nuisance and burden on the employer. It's the same for part-time work - just not an option. Sometimes it seems that Bogleheads operate in a different universe where all kind of possibilities that don't apply to the vast majority of people do actually apply to them, and sometimes we lose sight of how life works for everyone else.
Although it is not actionable, boy do I agree with your statement.
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JoeRetire
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Re: Regrets postponing retirement too long?

Post by JoeRetire »

GerryL wrote: Mon Jan 11, 2021 2:19 am
JoeRetire wrote: Sun Jan 10, 2021 10:56 pm
GerryL wrote: Sun Jan 10, 2021 10:46 pm
JoeRetire wrote: Sun Jan 10, 2021 9:14 pm
GerryL wrote: Sun Jan 10, 2021 4:35 pm

There was a time when an employee did not have to get his wife to sign off on his pension choice. My dad's friend was notoriously skinflinty and opted for the simple annuity option so the monthly checks would be larger. After he died, the pension payments stopped, and his widow had to live for years on a much reduced income. Regulations were eventually enacted to require spouses to sign off to try to avoid this kind of situation.
There was a time when most folks retired with a pension...
Yes. But the regulation now also applies to decisions about 401ks.
What kind of spousal signoff is required for a 401k choice?
I'm guessing loans. Cashing out? Changing beneficiary? Anyone know, or am I blowing smoke here?
I did a bit of research. It appears that spousal consent may be required in order to designate someone other than the spouse as the primary beneficiary. And spousal consent may be required if changing the payout from a spousal annuity to a lump sum distribution.

Makes sense.
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Stubbie
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Re: Regrets postponing retirement too long?

Post by Stubbie »

Retired at age 56 when I realized I had "enough". Was not miserable at my job but knew 2 colleagues who died of brain tumors a couple of years short of their retirement dates. Then, one of my best friends died of liver failure at age 58. After attending his memorial service, decided to pull the plug on full time employment. The bottom line was the feeling of regret I imagined I would experience if I had a major health issue and was still toiling away at the old job when it was no longer financially necessary. It's been 5 years since I made that decision and, thankfully, I have experienced good health. These past 5 years have been the best years of my life. Retiring when I not longer "had" to work was the best decision I ever made. The effects of the pandemic have made it even more so.
Regrets? None whatsoever. I definitely WOULD have regretted working longer than necessary.
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Re: Regrets postponing retirement too long?

Post by ponyboy »

Jazztonight wrote: Mon Jan 11, 2021 1:07 am We don't just retire FROM something. We need to retire TO something!
I disagree. Different strokes for different folks. YOu seem like the type of person that needs to stay busy. Its what balances you out and keeps you sane. There isnt a one size fits all model. I know retired people who exercise a little in the morning and read throughout most of the day. Very bare bone basic, and they enjoy it.
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Re: Regrets postponing retirement too long?

Post by mptfan »

I agree that some people are no longer around to tell their story of waiting too long to retire. I had an aunt who was planning to retire at 60 with her husband, my uncle, they had purchased a retirement home in a quiet and remote area and were fixing it up. One day when she was 59 she was not feeling well and had a headache and she was ultimately diagnosed with brain cancer and she died within several months of the diagnosis about two months before her 60th birthday. I spoke to my uncle after her passing and you could hear the heartbreak in his voice because their lifetime plan came to an end within a matter of months.
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Re: Regrets postponing retirement too long?

Post by BogleFanGal »

ponyboy wrote: Mon Jan 11, 2021 8:35 am
Jazztonight wrote: Mon Jan 11, 2021 1:07 am We don't just retire FROM something. We need to retire TO something!
I disagree. Different strokes for different folks. YOu seem like the type of person that needs to stay busy. Its what balances you out and keeps you sane. There isnt a one size fits all model. I know retired people who exercise a little in the morning and read throughout most of the day. Very bare bone basic, and they enjoy it.
+1 So much retirement advice I read echoes this - all the experts inform you that you need goals, plans, purpose - you need to stay busy, challenge yourself, etc. Scale a mountain, run a marathon, learn a new language, attend university classes - be a lifelong learner, volunteer on committees, grow your own veggies and fruits, travel to far flung locales because you should experience other cultures...and on and on.

I'm no slacker and have worked hard for success in life, but it exhausts me just to read about these ambitious retirement goals and all the "do's" and "don'ts". Feels waaay too much like work to me.
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flyingaway
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Re: Regrets postponing retirement too long?

Post by flyingaway »

BogleFanGal wrote: Mon Jan 11, 2021 9:59 am
ponyboy wrote: Mon Jan 11, 2021 8:35 am
Jazztonight wrote: Mon Jan 11, 2021 1:07 am We don't just retire FROM something. We need to retire TO something!
I disagree. Different strokes for different folks. YOu seem like the type of person that needs to stay busy. Its what balances you out and keeps you sane. There isnt a one size fits all model. I know retired people who exercise a little in the morning and read throughout most of the day. Very bare bone basic, and they enjoy it.
+1 So much retirement advice I read echoes this - all the experts inform you that you need goals, plans, purpose - you need to stay busy, challenge yourself, etc. Scale a mountain, run a marathon, learn a new language, attend university classes - be a lifelong learner, volunteer on committees, grow your own veggies and fruits, travel to far flung locales because you should experience other cultures...and on and on.

I'm no slacker and have worked hard for success in life, but it exhausts me just to read about these ambitious retirement goals and all the "do's" and "don'ts". Feels waaay too much like work to me.
I don't even want to pursue "a meaningful life in retirement" as discussed in another thread. I just want a life of no (low) worry.
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Re: Regrets postponing retirement too long?

Post by tibbitts »

BogleFanGal wrote: Mon Jan 11, 2021 9:59 am +1 So much retirement advice I read echoes this - all the experts inform you that you need goals, plans, purpose - you need to stay busy, challenge yourself, etc.
It's probably because all the "experts" are type A personalities who can't imagine themselves being content not "working" in one way or another.
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Re: Regrets postponing retirement too long?

Post by Barkingsparrow »

tibbitts wrote: Mon Jan 11, 2021 10:40 am
BogleFanGal wrote: Mon Jan 11, 2021 9:59 am +1 So much retirement advice I read echoes this - all the experts inform you that you need goals, plans, purpose - you need to stay busy, challenge yourself, etc.
It's probably because all the "experts" are type A personalities who can't imagine themselves being content not "working" in one way or another.
Some people have issues with just slowing down and being in the present moment.
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Re: Regrets postponing retirement too long?

Post by flyingaway »

visualguy wrote: Sun Jan 10, 2021 4:34 pm
mptfan wrote: Sun Jan 10, 2021 4:21 pm
tibbitts wrote: Sun Jan 10, 2021 4:19 pmSometimes it seems that Bogleheads operate in a different universe where all kind of possibilities that don't apply to the vast majority of people do actually apply to them, and sometimes we lose sight of how life works for everyone else.
I agree with this. There are many working people who just don't get paid vacations, either you work or you don't get paid, it's that simple.
OP is in academia, though.

Also, the fact that something doesn't apply to most people doesn't mean that there isn't a significant number of people out there for whom it does apply. For those who have jobs where it's possible to take meaningful time off to travel, it makes sense to travel while working (if they love it) rather than waiting until retirement.
Yes, I have a few months vacation each year and I have seen a lot of the world even by the standards of this forum. However, a worry-free travel in slow pace is a different story. I have started sort of "experimenting" retirement life about two years ago, but I don't think it has been what I hoped. I am going to accelerate the travel part after the pandemic.
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Re: Regrets postponing retirement too long?

Post by flyingaway »

TheTimeLord wrote: Sun Jan 10, 2021 12:42 pm To me the problem has never been postponing retirement too long. The question is postponing living too long. IMHO, there is risk in waiting to live, your life needs a balance, none of us is promised tomorrow. We save because the most likely outcome is we will live and in general the most painful outcome is to come to the end of life with insufficient funds. Personally, I believed and still believe on balance postponing retirement so I can live in the present is a better investment than postponing life so I can retire in the future. But the decision is a very personal one and one you need to answer for yourself.
I agree that working for a few more years and getting more money after FI is not big problem, at least that was my thinking until my knee started having some problems about two weeks ago. I have been following your various threads, although I really do not know what you plan to do in your retirement. (As my understanding is that you are finally retired, at least temporarily).

Honestly speaking, not a single day am I not living in the decision between retiring now and working for another semester (half a year). Retiring now, I might regret in the future that I leave a lot of money on the table and could not support my children they might need or even my wife and me in later life. Retiring later, I might regret that I do not have much time to enjoy my retirement (in retrospect). Just a difficult decision to make.
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Re: Regrets postponing retirement too long?

Post by TheTimeLord »

flyingaway wrote: Mon Jan 11, 2021 11:20 am
TheTimeLord wrote: Sun Jan 10, 2021 12:42 pm To me the problem has never been postponing retirement too long. The question is postponing living too long. IMHO, there is risk in waiting to live, your life needs a balance, none of us is promised tomorrow. We save because the most likely outcome is we will live and in general the most painful outcome is to come to the end of life with insufficient funds. Personally, I believed and still believe on balance postponing retirement so I can live in the present is a better investment than postponing life so I can retire in the future. But the decision is a very personal one and one you need to answer for yourself.
I agree that working for a few more years and getting more money after FI is not big problem, at least that was my thinking until my knee started having some problems about two weeks ago. I have been following your various threads, although I really do not know what you plan to do in your retirement. (As my understanding is that you are finally retired, at least temporarily).

Honestly speaking, not a single day am I not living in the decision between retiring now and working for another semester (half a year). Retiring now, I might regret in the future that I leave a lot of money on the table and could not support my children they might need or even my wife and me in later life. Retiring later, I might regret that I do not have much time to enjoy my retirement (in retrospect). Just a difficult decision to make.
You may be different but I know very few people who squeeze a lot of life out of the daily lives when they are working and I am dubious things will change that much when they retire. But maybe they will. My point is simply don't put everything off waiting for this nirvana we call retirement. If your knee is beginning to bother you then can you find a way to do something you really want to that requires your knee understanding that you will have to work an extra month or two on the back end to pay for it. You need to figure out your balance and what will work for you. I have some things I want to do that require me to be fit. Unfortunately one difficulty I have run into is they also normally require playmates to participate to. I never really anticipated the impact other people's budgets as a limiting factor to the existent it has been. I have discovered some people talk a big game until things become real. To be honest this has been a bit of a gut punch but I am not sure it should have been as much of a surprise as it has been. This won't be applicable to everyone, but after a 10+ year bull market I think it is going to happen to quite a few people here.
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Re: Regrets postponing retirement too long?

Post by corn18 »

averagedude wrote: Sun Jan 10, 2021 12:40 am What is more likely at age 90? Being on your death bed wishing you had worked longer or wishing you had retired earlier? Most people never get the opportunity to answer this question because they don't live this long. How would you actually answer this if you were one of the lucky people to live this long?
I agree with this. I have never heard anyone say "I wish I had worked more." I haven't spoken to everyone in the world, so my sample size may not represent the full population.
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Re: Regrets postponing retirement too long?

Post by TheTimeLord »

corn18 wrote: Mon Jan 11, 2021 11:59 am
averagedude wrote: Sun Jan 10, 2021 12:40 am What is more likely at age 90? Being on your death bed wishing you had worked longer or wishing you had retired earlier? Most people never get the opportunity to answer this question because they don't live this long. How would you actually answer this if you were one of the lucky people to live this long?
I agree with this. I have never heard anyone say "I wish I had worked more." I haven't spoken to everyone in the world, so my sample size may not represent the full population.
Lots and lots of people are forced out of the workforce early and wish they had been able to work longer. Saw a special on Norman Lear yesterday and he is still working in his late 90s to develop TV shows. I assume everyone here has heard of Warren Buffet and Charlie Munger. Elon Musk is the richest man in the world and he is still developing new companies. Same with Bezos. I guess Bill Gates is the richest retiree in the world.
Last edited by TheTimeLord on Mon Jan 11, 2021 12:09 pm, edited 1 time in total.
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JoeRetire
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Re: Regrets postponing retirement too long?

Post by JoeRetire »

ponyboy wrote: Mon Jan 11, 2021 8:35 am
Jazztonight wrote: Mon Jan 11, 2021 1:07 am We don't just retire FROM something. We need to retire TO something!
I disagree. Different strokes for different folks. YOu seem like the type of person that needs to stay busy. Its what balances you out and keeps you sane. There isnt a one size fits all model. I know retired people who exercise a little in the morning and read throughout most of the day. Very bare bone basic, and they enjoy it.
But those people you know are indeed retiring TO something. In their case they are retiring to a life of a little morning exercise and a lot of reading.
That contrasts with those wanting to retire solely because they don't wish to work.
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JoeRetire
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Re: Regrets postponing retirement too long?

Post by JoeRetire »

corn18 wrote: Mon Jan 11, 2021 11:59 am
averagedude wrote: Sun Jan 10, 2021 12:40 am What is more likely at age 90? Being on your death bed wishing you had worked longer or wishing you had retired earlier? Most people never get the opportunity to answer this question because they don't live this long. How would you actually answer this if you were one of the lucky people to live this long?
I agree with this. I have never heard anyone say "I wish I had worked more." I haven't spoken to everyone in the world, so my sample size may not represent the full population.
I have heard some say "I wish we had more money". I've heard some widows say "I wish we had planned better".
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Re: Regrets postponing retirement too long?

Post by Wanderingwheelz »

mptfan wrote: Sun Jan 10, 2021 4:21 pm
tibbitts wrote: Sun Jan 10, 2021 4:19 pmSometimes it seems that Bogleheads operate in a different universe where all kind of possibilities that don't apply to the vast majority of people do actually apply to them, and sometimes we lose sight of how life works for everyone else.
I agree with this. There are many working people who just don't get paid vacations, either you work or you don't get paid, it's that simple.
Some people are self employed so there’s no boss or anyone to tell us we should be doing something we don’t want to do. Sure, it costs you some money to vacation rather than go to work (it’s not like we have any vacation days, or sick days for that matter), but we’ve taken over 100 days of vacation in 2019 and 2020. Our income wasn’t as high as it would have been if we had stayed home, but YOLO.

There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
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Re: Regrets postponing retirement too long?

Post by BogleFanGal »

Wanderingwheelz wrote: Mon Jan 11, 2021 12:21 pm
mptfan wrote: Sun Jan 10, 2021 4:21 pm
tibbitts wrote: Sun Jan 10, 2021 4:19 pmSometimes it seems that Bogleheads operate in a different universe where all kind of possibilities that don't apply to the vast majority of people do actually apply to them, and sometimes we lose sight of how life works for everyone else.
I agree with this. There are many working people who just don't get paid vacations, either you work or you don't get paid, it's that simple.
Some people are self employed so there’s no boss or anyone to tell us we should be doing something we don’t want to do. Sure, it costs you some money to vacation rather than go to work (it’s not like we have any vacation days, or sick days for that matter), but we’ve taken over 100 days of vacation in 2019 and 2020. Our income wasn’t as high as it would have been if we had stayed home, but YOLO.

There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
This is so true! Everyone talks about "mega corp" here on BH...I grew up and built my career in areas with tons of mom & pop shops, some fast growing companies, but few corporate HQs- certainly nothing that would be considered a "mega corps". Definitely didn't have much vacation time anywhere I worked.

Retirees can leave midweek, grab last minute deals, stay longer if they feel like it. No worries about squeezing travel into long weekends or holidays. No worries about coordinating schedules with spouse's work calendar. It must be so relaxing!
Last edited by BogleFanGal on Mon Jan 11, 2021 12:51 pm, edited 3 times in total.
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Re: Regrets postponing retirement too long?

Post by visualguy »

TheTimeLord wrote: Mon Jan 11, 2021 12:06 pm
corn18 wrote: Mon Jan 11, 2021 11:59 am
averagedude wrote: Sun Jan 10, 2021 12:40 am What is more likely at age 90? Being on your death bed wishing you had worked longer or wishing you had retired earlier? Most people never get the opportunity to answer this question because they don't live this long. How would you actually answer this if you were one of the lucky people to live this long?
I agree with this. I have never heard anyone say "I wish I had worked more." I haven't spoken to everyone in the world, so my sample size may not represent the full population.
Lots and lots of people are forced out of the workforce early and wish they had been able to work longer. Saw a special on Norman Lear yesterday and he is still working in his late 90s to develop TV shows. I assume everyone here has heard of Warren Buffet and Charlie Munger. Elon Musk is the richest man in the world and he is still developing new companies. Same with Bezos. I guess Bill Gates is the richest retiree in the world.
That's right. Many whose participation in the workforce ends early due to layoffs, health reasons, etc. wish they could have worked longer. Also true that people with continuing strong success in their occupation (like those you mentioned) do not typically choose to abandon all that for the wonders of retirement. You don't hear them say they wish they had chosen to work longer because they actually do work longer and don't retire voluntarily.
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Re: Regrets postponing retirement too long?

Post by mptfan »

TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
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Re: Regrets postponing retirement too long?

Post by corn18 »

mptfan wrote: Mon Jan 11, 2021 1:56 pm
TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
That is the kind of work I would love to do in retirement. We're all set for retirement. But my wife will inherit a nice 7 figures from her mom at some point. I have discussed it with my wife and I am very keen on using this money for philanthropy. What a great way to leave a legacy for her. DW is not in agreement.
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TheTimeLord
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Re: Regrets postponing retirement too long?

Post by TheTimeLord »

mptfan wrote: Mon Jan 11, 2021 1:56 pm
TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
Didn't say he wasn't active but you often hear advice here for retirees to join charity boards or volunteer so by the standards that have been presented he is retired.
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Re: Regrets postponing retirement too long?

Post by Wanderingwheelz »

mptfan wrote: Mon Jan 11, 2021 1:56 pm
TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
Retirees aren’t allowed to travel the world? It’s actually a pretty sweet deal when you can just charge all of the expenses to a foundation. In a way it’s like volunteering, but in an other ways it very much is not. Luxo-teering maybe?

For you to accept that Bill is retired, what should he be doing instead of globetrotting?
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Re: Regrets postponing retirement too long?

Post by mptfan »

corn18 wrote: Mon Jan 11, 2021 1:59 pm That is the kind of work I would love to do in retirement.
I guess you and I define "retirement" differently. In my opinion if you are working, you are not retired.
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Re: Regrets postponing retirement too long?

Post by mptfan »

Wanderingwheelz wrote: Mon Jan 11, 2021 2:18 pm Retirees aren’t allowed to travel the world?
Sure, retirees are allowed to travel the world, I hope to fall into that category someday. It's not the globetrotting that makes him not retired, it's the working part, if you are working while travelling the world then you are not retired. Bill Gates went from working at Microsoft to founding and working at his foundation and I get the impression that he continues to work quite hard in that capacity. I intend to travel the world without doing any work.
Last edited by mptfan on Mon Jan 11, 2021 2:46 pm, edited 2 times in total.
UpperNwGuy
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Re: Regrets postponing retirement too long?

Post by UpperNwGuy »

flyingaway wrote: Sat Jan 09, 2021 3:11 pm However, I have started to have knee pain for about a week, walking stairs becomes difficult, although it gets better now. I am starting to worry about my future plan for travel in retirement. I would regret for late retirement if I could not do a lot of travels in my retirement for health reasons.
I had always wanted to retire at 55, and I was eligible to retire then, but the combination of a divorce and children's education kept me working until 61. My plan had always been to travel, and I did a lot of travel until COVID-19 arrived. I always knew that I needed to do most of my travel in the first decade and a half after retirement, because after 70-75 old age would slow me down. It looks like I am going to miss two full years of travel because of COVID-19, and I'm already reviewing my list of future trips and deleting a number of them because my remaining prime travel years are shrinking. I wish I could have retired earlier and had those extra six years to travel.
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Re: Regrets postponing retirement too long?

Post by BogleFan510 »

Could have retired earlier. Dont really regret the retirement date, as the working years were productive times and retirement can be a bit quiet and less mentally engaging.

A bit of a regret on some frugal choices, since we were so far along on the financial independence front.

For example, when we bought our home, which is great BTW, we spent well below what we could theoretically afford. At the time it seemed like an expensive stretch, as the home cost 2.5x what we sold our "all we could want" in one of the nicest parts of Dallas, that we had bought for a steal in 1992. Bay Area sticker shock, and Texas was recovering from the late 80s early 90s oil industry real estate crash. However, for 30% more we could have bought and afforded something nicer (without some of the flaws our current home has). It turns out we are approaching 25 years in this house, and with Prop 13, we are not moving any time soon (home is worth approaching 4x original price, with tax basis still under 150% of original price). The difference is probably a million or more added to our portfolio, but we gave up 25+ years of a nicer house with less maintenance, and dont really need that million dollar difference, given our frugal lifestyle. It would be very costly to move now, even if downsizing is a practical move, and house appretiation would have made spending more a better choice.
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Re: Regrets postponing retirement too long?

Post by vitaflo »

Wanderingwheelz wrote: Mon Jan 11, 2021 12:21 pm There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
Bogleheads as a whole is highly conservative. It kind of makes sense with the LBYM ethic, and to be a saver you need to at least have some semblance of a conservative nature when it comes to finances (relatively speaking). Thus, much like the 3-fund portfolio, most people are going to take the best slow-and-steady-wins-the-race path to wealth and that is working at a megacorp (which I personally would find soul crushing).

That said, as someone who owns three businesses, I agree with you. Not everyone has the chops to be an entrepreneur, but I don't think it's as hard as some make it, and in any case, you have a lot more control over your sweat equity than you do over your stock equity. Spending my time working on the former means I don't need to worry about the later like many of the various posts here that slice and dice numbers and investment strategies all day.
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Re: Regrets postponing retirement too long?

Post by Wanderingwheelz »

vitaflo wrote: Mon Jan 11, 2021 2:58 pm
Wanderingwheelz wrote: Mon Jan 11, 2021 12:21 pm There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
Bogleheads as a whole is highly conservative. It kind of makes sense with the LBYM ethic, and to be a saver you need to at least have some semblance of a conservative nature when it comes to finances (relatively speaking). Thus, much like the 3-fund portfolio, most people are going to take the best slow-and-steady-wins-the-race path to wealth and that is working at a megacorp (which I personally would find soul crushing).

That said, as someone who owns three businesses, I agree with you. Not everyone has the chops to be an entrepreneur, but I don't think it's as hard as some make it, and in any case, you have a lot more control over your sweat equity than you do over your stock equity. Spending my time working on the former means I don't need to worry about the later like many of the various posts here that slice and dice numbers and investment strategies all day.
I completely agree. I think my wife and I are probably rare here in that we reached FI well before ages 5O yet we’ve never kept a budget. No spreadsheets, no end of the year examination of credit cards. Nada.

I think entrepreneurs keep their minds occupied by growing businesses, not so much hyper-focused on grown their retirement accounts.

Earned income while accumulating determines more than 70% of a persons success as an investor, not asset allocation or security selection.
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Re: Regrets postponing retirement too long?

Post by TheTimeLord »

Wanderingwheelz wrote: Mon Jan 11, 2021 3:09 pm
vitaflo wrote: Mon Jan 11, 2021 2:58 pm
Wanderingwheelz wrote: Mon Jan 11, 2021 12:21 pm There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
Bogleheads as a whole is highly conservative. It kind of makes sense with the LBYM ethic, and to be a saver you need to at least have some semblance of a conservative nature when it comes to finances (relatively speaking). Thus, much like the 3-fund portfolio, most people are going to take the best slow-and-steady-wins-the-race path to wealth and that is working at a megacorp (which I personally would find soul crushing).

That said, as someone who owns three businesses, I agree with you. Not everyone has the chops to be an entrepreneur, but I don't think it's as hard as some make it, and in any case, you have a lot more control over your sweat equity than you do over your stock equity. Spending my time working on the former means I don't need to worry about the later like many of the various posts here that slice and dice numbers and investment strategies all day.
I completely agree. I think my wife and I are probably rare here in that we reached FI well before ages 5O yet we’ve never kept a budget. No spreadsheets, no end of the year examination of credit cards. Nada.

I think entrepreneurs keep their minds occupied by growing businesses, not so much hyper-focused on grown their retirement accounts.

Earned income while accumulating determines more than 70% of a persons success as an investor, not asset allocation or security selection.
Okay, I am with you on everything but the no spreadsheets thing. Spreadsheets be da bomb.
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Re: Regrets postponing retirement too long?

Post by vitaflo »

Wanderingwheelz wrote: Mon Jan 11, 2021 3:09 pm
vitaflo wrote: Mon Jan 11, 2021 2:58 pm
Wanderingwheelz wrote: Mon Jan 11, 2021 12:21 pm There’s no way of knowing, but I’ve always felt like Bogleheads is way underrepresented when it comes to entrepreneurs. All the talk of “Mega Corp” And very little of a restaurant or a print shop, or even a repair business.
Bogleheads as a whole is highly conservative. It kind of makes sense with the LBYM ethic, and to be a saver you need to at least have some semblance of a conservative nature when it comes to finances (relatively speaking). Thus, much like the 3-fund portfolio, most people are going to take the best slow-and-steady-wins-the-race path to wealth and that is working at a megacorp (which I personally would find soul crushing).

That said, as someone who owns three businesses, I agree with you. Not everyone has the chops to be an entrepreneur, but I don't think it's as hard as some make it, and in any case, you have a lot more control over your sweat equity than you do over your stock equity. Spending my time working on the former means I don't need to worry about the later like many of the various posts here that slice and dice numbers and investment strategies all day.
I completely agree. I think my wife and I are probably rare here in that we reached FI well before ages 5O yet we’ve never kept a budget. No spreadsheets, no end of the year examination of credit cards. Nada.

I think entrepreneurs keep their minds occupied by growing businesses, not so much hyper-focused on grown their retirement accounts.

Earned income while accumulating determines more than 70% of a persons success as an investor, not asset allocation or security selection.
I do both. I do the finances for all my businesses, so I also do it for my personal budgets and investments. You can increase profits by either increasing revenue or reducing expenses. Same is true for personal finances. This is the thing I think most BH's don't get. They're already running their personal finances like a real business, it's not much different!

That said, totally agree on the earned income bit. Certainly the gains in my portfolio are large, but the income you earn makes such a huge difference relative to any slice and dice investment strategy. Almost any AA is fine if you focus on growing your income.
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Re: Regrets postponing retirement too long?

Post by flyingaway »

BogleFan510 wrote: Mon Jan 11, 2021 2:48 pm Could have retired earlier. Dont really regret the retirement date, as the working years were productive times and retirement can be a bit quiet and less mentally engaging.

A bit of a regret on some frugal choices, since we were so far along on the financial independence front.

For example, when we bought our home, which is great BTW, we spent well below what we could theoretically afford. At the time it seemed like an expensive stretch, as the home cost 2.5x what we sold our "all we could want" in one of the nicest parts of Dallas, that we had bought for a steal in 1992. Bay Area sticker shock, and Texas was recovering from the late 80s early 90s oil industry real estate crash. However, for 30% more we could have bought and afforded something nicer (without some of the flaws our current home has). It turns out we are approaching 25 years in this house, and with Prop 13, we are not moving any time soon (home is worth approaching 4x original price, with tax basis still under 150% of original price). The difference is probably a million or more added to our portfolio, but we gave up 25+ years of a nicer house with less maintenance, and dont really need that million dollar difference, given our frugal lifestyle. It would be very costly to move now, even if downsizing is a practical move, and house appretiation would have made spending more a better choice.
We are on the opposite. Bought a large new house in 2006 at the peak. The house is probably priced the same as our original price 14 years ago. Now the children are gone, the house is too big. We will wait after retirement to see where we want to go or stay where we are.
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Re: Regrets postponing retirement too long?

Post by Normchad »

TheTimeLord wrote: Mon Jan 11, 2021 2:00 pm
mptfan wrote: Mon Jan 11, 2021 1:56 pm
TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
Didn't say he wasn't active but you often hear advice here for retirees to join charity boards or volunteer so by the standards that have been presented he is retired.
Exactly. Bill isn’t drawing a paycheck anymore...... wonder if he collects SS?
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Re: Regrets postponing retirement too long?

Post by iamblessed »

Stubbie wrote: Mon Jan 11, 2021 7:27 am Retired at age 56 when I realized I had "enough". Was not miserable at my job but knew 2 colleagues who died of brain tumors a couple of years short of their retirement dates. Then, one of my best friends died of liver failure at age 58. After attending his memorial service, decided to pull the plug on full time employment. The bottom line was the feeling of regret I imagined I would experience if I had a major health issue and was still toiling away at the old job when it was no longer financially necessary. It's been 5 years since I made that decision and, thankfully, I have experienced good health. These past 5 years have been the best years of my life. Retiring when I not longer "had" to work was the best decision I ever made. The effects of the pandemic have made it even more so.
Regrets? None whatsoever. I definitely WOULD have regretted working longer than necessary.
Had several neighbors die in the their 50's. Classmate die at 49. Their seems to be a group of people that start to die in their 50's Their seem to be another group in the early 60's. Just what I see with my own two eyes.
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Re: Regrets postponing retirement too long?

Post by JoeRetire »

Normchad wrote: Mon Jan 11, 2021 6:31 pm
TheTimeLord wrote: Mon Jan 11, 2021 2:00 pm
mptfan wrote: Mon Jan 11, 2021 1:56 pm
TheTimeLord wrote: Mon Jan 11, 2021 12:06 pmI guess Bill Gates is the richest retiree in the world.
I would hardly call Bill Gates retired, I have seen him interviewed and I have read enough about him to know that he does a lot of work with the Bill & Melinda Gates foundation on causes all around the world.
Didn't say he wasn't active but you often hear advice here for retirees to join charity boards or volunteer so by the standards that have been presented he is retired.
Exactly. Bill isn’t drawing a paycheck anymore...... wonder if he collects SS?
He's only 65. Probably waiting until at least his FRA if not 70.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
an_asker
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Re: Regrets postponing retirement too long?

Post by an_asker »

galawdawg wrote: Sun Jan 10, 2021 9:57 am I know that my parents had that regret. My Dad retired a few years before my Mom and they had plans to purchase a beachfront house in NC or SC when she retired. However, my Mom was diagnosed with Alzheimers while still working which quickly progressed to the point where she needed more care than my Dad could provide. So rather than enjoying their "golden years" at their contemplated retirement home, my parents stayed put and my Mom was moved to a memory care unit of a nursing home where she remained until she passed away eight years after her diagnosis. With their finances, they could have retired ten years earlier and still enjoyed a very comfortable retirement in a very nice beach community.. Maybe not on the water but certainly very close. And if they could have done it over, a block from the beach and a much earlier retirement would have been their decision.

That was one of the factors which led me to retire once I became eligible for a full pension and retiree health benefits in late 2018 at age 53. While COVID certainly put a significant crimp in the plans we had for 2020, my wife and I have no regrets...we have "enough!"

:sharebeer
Sorry to hear about your mother!

That said, you are exactly (assuming you had a WFH kinda job you retired from) like the person I had in mind when I wondered out loud earlier today: I understand that you have "enough" when you retired in 2018. But with Covid putting a dampener on your travel plans, didn't you feel any regrets that maybe it would have been worth it to stick around at work this year as well - if you could WFH that is? To help fill those hours a bit better?
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Re: Regrets postponing retirement too long?

Post by calmaniac »

flyingaway wrote: Sat Jan 09, 2021 3:11 pm my job....I don't love or hate it
Not that I have not had a love/hate relationship with my job over the years. But, if you have that little passion about your work, I would lean more towards retiring sooner.

In my own version of this, I realized at around age 55 that I could retire, but stuck it out a couple of years to finish up a big project that was important to me and during that time max out my pension. At 57, I retired and took a 6 month sabbatical from work, at which time I was approached with a really interesting job offer, which I took. One of the most empowering things about being financially independent and still working is that you have no one to complain to about "how you hate your job", etc. It ends up being very empowering, as you realize you do not need to be working and are doing this 100% by choice. This path is not for everyone, but has worked for me.
63 yo,1y til go part-time. AA 70/30: 30% S&P, 16% value, 14% intl, 10% EM, 30% short/int govt bonds. My mil pension + DW's now ≈60% of expenses. Taking SS @age 70--> pension+SS ≈100% of expenses.
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Re: Regrets postponing retirement too long?

Post by galawdawg »

an_asker wrote: Mon Jan 11, 2021 9:38 pm That said, you are exactly (assuming you had a WFH kinda job you retired from) like the person I had in mind when I wondered out loud earlier today: I understand that you have "enough" when you retired in 2018. But with Covid putting a dampener on your travel plans, didn't you feel any regrets that maybe it would have been worth it to stick around at work this year as well - if you could WFH that is? To help fill those hours a bit better?
Nope, no regrets at all. I still fill my day. Just spending it differently than I would have otherwise, including too much time on Bogleheads! :wink:
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Re: Regrets postponing retirement too long?

Post by Hebell »

First (oldest) daughter here. Like many others with that title my work was cut short due to elder care. Fortunately by the time my parents became ill, one after the other, I had shifted from 20 years at megacorp to running my own manufacturing business I built from the ground up. It was a blessing that had happened. For the seven years of their decline, I was able to flexibly take care of them and travel frequently to see them and make all their arrangements and pay bills, coordinate medical Care, handle disputes etc.

But when things really got tough in the final year, that's when I packed the other stuff in. With a blessing of my husband, and no children left in the home, I lived with Mom. My only regret is that with their passing, and the enormous challenges they faced, I couldn't monetize my exit from the business as well as I could have if I had not had that important family obligation.

I'm not at all upset about it, and I'd do it the same way again, but it isn't at all how I expected to enter retirement. I have not been bored in retirement.

Learning so much about dying, really shaped how my husband and I live now, where we live, how we live and what we do.
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Re: Regrets postponing retirement too long?

Post by birdog »

OP,

I understand your concern. It's a balance between leaving too soon and working too long. It's a big decision that I'm also currently grappling with. It's a big step to go from a lifetime of accumulating to all of a sudden de-cumulating. Fortunately (I guess), the disdain I have for my job is acting to make the decision to leave much easier for me. (Maybe some time in prayer or meditation will provide some insight?) Anyway, I've enjoyed reading the posts in this thread and am glad you posed the question.
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Re: Regrets postponing retirement too long?

Post by BogleFan510 »

flyingaway wrote: Mon Jan 11, 2021 6:18 pm
BogleFan510 wrote: Mon Jan 11, 2021 2:48 pm Could have retired earlier. Dont really regret the retirement date, as the working years were productive times and retirement can be a bit quiet and less mentally engaging.

A bit of a regret on some frugal choices, since we were so far along on the financial independence front.

For example, when we bought our home, which is great BTW, we spent well below what we could theoretically afford. At the time it seemed like an expensive stretch, as the home cost 2.5x what we sold our "all we could want" in one of the nicest parts of Dallas, that we had bought for a steal in 1992. Bay Area sticker shock, and Texas was recovering from the late 80s early 90s oil industry real estate crash. However, for 30% more we could have bought and afforded something nicer (without some of the flaws our current home has). It turns out we are approaching 25 years in this house, and with Prop 13, we are not moving any time soon (home is worth approaching 4x original price, with tax basis still under 150% of original price). The difference is probably a million or more added to our portfolio, but we gave up 25+ years of a nicer house with less maintenance, and dont really need that million dollar difference, given our frugal lifestyle. It would be very costly to move now, even if downsizing is a practical move, and house appretiation would have made spending more a better choice.
We are on the opposite. Bought a large new house in 2006 at the peak. The house is probably priced the same as our original price 14 years ago. Now the children are gone, the house is too big. We will wait after retirement to see where we want to go or stay where we are.
Not quite the opposite, as our home is and was still likely too large (after Texas it seemed normal to have a large house and 3 cars for 2 people). Envy you your flexibility. If we downsized our tax bill would more than double and we would have 7 figure capital gain. Dont really need that equity, which is a 1sr world problem I admit. No barriers to selling is a freedom in a way.
iamblessed wrote: Mon Jan 11, 2021 7:28 pm
Stubbie wrote: Mon Jan 11, 2021 7:27 am Retired at age 56 when I realized I had "enough". Was not miserable at my job but knew 2 colleagues who died of brain tumors a couple of years short of their retirement dates. Then, one of my best friends died of liver failure at age 58. After attending his memorial service, decided to pull the plug on full time employment. The bottom line was the feeling of regret I imagined I would experience if I had a major health issue and was still toiling away at the old job when it was no longer financially necessary. It's been 5 years since I made that decision and, thankfully, I have experienced good health. These past 5 years have been the best years of my life. Retiring when I not longer "had" to work was the best decision I ever made. The effects of the pandemic have made it even more so.
Regrets? None whatsoever. I definitely WOULD have regretted working longer than necessary.
Had several neighbors die in the their 50's. Classmate die at 49. Their seems to be a group of people that start to die in their 50's Their seem to be another group in the early 60's. Just what I see with my own two eyes.
Agreed. Several close friends died in their early 50s, during my last work years, which also encouraged me to pull the trigger even earlier than what was financially optimal. Gave up some nice incremental retirement payments that fully vested later.
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TheTimeLord
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Re: Regrets postponing retirement too long?

Post by TheTimeLord »

BogleFan510 wrote: Tue Jan 12, 2021 12:47 pm
iamblessed wrote: Mon Jan 11, 2021 7:28 pm
Stubbie wrote: Mon Jan 11, 2021 7:27 am Retired at age 56 when I realized I had "enough". Was not miserable at my job but knew 2 colleagues who died of brain tumors a couple of years short of their retirement dates. Then, one of my best friends died of liver failure at age 58. After attending his memorial service, decided to pull the plug on full time employment. The bottom line was the feeling of regret I imagined I would experience if I had a major health issue and was still toiling away at the old job when it was no longer financially necessary. It's been 5 years since I made that decision and, thankfully, I have experienced good health. These past 5 years have been the best years of my life. Retiring when I not longer "had" to work was the best decision I ever made. The effects of the pandemic have made it even more so.
Regrets? None whatsoever. I definitely WOULD have regretted working longer than necessary.
Had several neighbors die in the their 50's. Classmate die at 49. Their seems to be a group of people that start to die in their 50's Their seem to be another group in the early 60's. Just what I see with my own two eyes.
Agreed. Several close friends died in their early 50s, during my last work years, which also encouraged me to pull the trigger even earlier than what was financially optimal. Gave up some nice incremental retirement payments that fully vested later.
I have had a few friends pass about the time they reached 50. Strangely have had few that were older pass so far that I know of. Their passing was very sad but it never had an effect on my plans, I think because I have always tried to have balance in life and never felt like I was missing out on anything.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
BogleFan510
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Re: Regrets postponing retirement too long?

Post by BogleFan510 »

TheTimeLord wrote: Tue Jan 12, 2021 1:01 pm
BogleFan510 wrote: Tue Jan 12, 2021 12:47 pm
iamblessed wrote: Mon Jan 11, 2021 7:28 pm
Stubbie wrote: Mon Jan 11, 2021 7:27 am Retired at age 56 when I realized I had "enough". Was not miserable at my job but knew 2 colleagues who died of brain tumors a couple of years short of their retirement dates. Then, one of my best friends died of liver failure at age 58. After attending his memorial service, decided to pull the plug on full time employment. The bottom line was the feeling of regret I imagined I would experience if I had a major health issue and was still toiling away at the old job when it was no longer financially necessary. It's been 5 years since I made that decision and, thankfully, I have experienced good health. These past 5 years have been the best years of my life. Retiring when I not longer "had" to work was the best decision I ever made. The effects of the pandemic have made it even more so.
Regrets? None whatsoever. I definitely WOULD have regretted working longer than necessary.
Had several neighbors die in the their 50's. Classmate die at 49. Their seems to be a group of people that start to die in their 50's Their seem to be another group in the early 60's. Just what I see with my own two eyes.
Agreed. Several close friends died in their early 50s, during my last work years, which also encouraged me to pull the trigger even earlier than what was financially optimal. Gave up some nice incremental retirement payments that fully vested later.
I have had a few friends pass about the time they reached 50. Strangely have had few that were older pass so far that I know of. Their passing was very sad but it never had an effect on my plans, I think because I have always tried to have balance in life and never felt like I was missing out on anything.
Agreed. Carpe Diem.
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Re: Regrets postponing retirement too long?

Post by rich126 »

I'm pondering this right now, well in terms of when to retire. I'm late 50s but can't get my pension or health insurance until 60. I'm about 23 months from that point. Money wise based on most calculators, I'd probably be fine barring some a nasty stock market or high medical expenses.

My father is the one telling me not to retire too early. I think he is worried about me running out of money. Somewhat interesting considering my mother got diagnose with a disease at 62 that was pretty much a guarantee 10 year downward spiral with no real treatments (other than trying to treat the symptoms). My uncle has the opposite view and says to retire whenever you think you can do it since getting old brings a lot of issues and you might as well enjoy life when you can. They are both 80ish.

Right now the virus is definitely wearing on me since I can't work from home. I also moved to make my commute quite long (40 miles each way). For now, I'm moving to a 27 hr work week and will see how that goes. Commuting 3 days a week is better for someone like me who isn't into driving and dealing with traffic (not that anyone likes it but some are more tolerant to it).

If I had the right job, I don't mind thinking and working, especially if it was a WFH position. I'm looking into relocating back east to be closer to family but would like to wait until late spring or summer when, hopefully, the virus numbers will be less, and moving a bit easier.

I had a friend who retired ASAP at 56 (in terms of getting a pension and health insurance). In his case, work was destroying his morale and finances were going to be a bit tight but he needed to escape. Sadly he passed away before he got to 60. At least he got to enjoy a bit of retirement.

I know someone in their early 70s and they unexpected were given an option to retire with a severance pay in their 50s. He said it turned out to be the best thing that happened to him. Had a bunch of fun in the early years, money wasn't a big issue. Now that he is older he has more issues getting around so he was glad he had a chance to enjoy things when he was healthier. His mother is still alive but sadly has dementia.

So far I haven't heard from anyone that regretted retiring. I know some who claim they don't ever want to retire. One guy (50s) had to take time off due to the office being closed last year and said he hated the time off. Has no real hobbies, ended up sleeping all day.

I took off 17 days (if you count weekends) recently and was not bored at all. And I would had enjoyed it more if the virus wasn't around. Give me a computer and a tv and I'm in good shape. I don't need a lot of social activity and enjoy being by myself.

Personally I don't expect to live a long life so retiring sooner than later appeals to me. I just don't want to do anything foolish.
phxjcc
Posts: 835
Joined: Thu Aug 23, 2018 3:47 pm

Re: Regrets postponing retirement too long?

Post by phxjcc »

MikeWillRetire wrote: Sat Jan 09, 2021 4:00 pm Keep in mind that some of the people who waited too long can't respond to your question. They retired to the afterlife.
I absolutely cannot stress enough the impact of confirmation bias that you will get to your question.

"A show of hands, please, from all the deceased who died within 2 years of retirement that wished they had retired earlier."

"Since I don't see any hands raised..." etc, etc.

DW's best friend.
Retired at 66; dead at 66.
Jim, dead w/in 1 year @72, still working, "because I may need the money someday." No kids, no heirs.
Walter, "its the family business for 3 generations and the kids don't want it"; dead at 80. Widow, dead w/in 6 mos.
Etc, etc.

If you have "enough"; enjoy life--and if that is work, then keep going; otherwise stop.
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