62 and what to do?

[LowRyter]

$3k from the Casino!

Jack Pot

[redrider90]

Biggest concern for me at 60 is how to pay for Medical.  Not eligible until 65 for medicare, and current pricing through the (not so) affordable care act is about $1000 a month for my wife and I.

What am I missing?

Are you sure you looked at all the plans available in your state?
Maybe a $1000 month seems like a lot but for 2 people buying in the open market is far cheaper than what it was $10 years ago.
 I get supplemental insurance + drug benefit for Medicare from my former employer as well as full coverage for my wife and it still runs me $500/month for that and then add on what the Medicare premium cost.   At least she is covered for life if I bite the dust.

[Penderic]

And now you got the time to daydream and tell strangers long stories about your early youth, when .....




 

[Tom]

I'm like a number of you.  If I retire again.  I'd still be doing something to generate an income.  It's not in my DNA to totally sit out life.  For those that can, more power to you.  (corrected for Lannis)

[not-fishing]

Good for you Chet!  Great news!

Butt, I'll probably end up dying with the yoke on.  The wife "retired" at 46, 12 years ago to play and the last 6 years have been rough for business.

If it was just me I'd be fine now but supporting the wife's "habit" force me to keep working.   

It's cheaper to keep her.

The funny thing is I met with the Bank a couple of days ago about the Line of Credit which we never use.  It was new people from the Bank and they asked me about my 10 year plan  --must be a banking thing.  I told them I'd be 73 in ten years and left it at that.

So I'll keep slogging along for as long as my health holds.  Dad made it to 72 but he was disabled at 55, the stress of the Business ate him up.

I'll ride when I can, suffer government fools with the hope that Construction Business will boom in the next few years and I can help my kids.  because they never ask, they're all great kids  - and there is where I'm lucky

[oldbike54]

 Chet hasn't actually retired , just drawing his SS .

 Dusty

[Lannis]

I'm like a number of you.  If I retire again.  I'd still be doing something to generate an income.  It's not in the DNA to totally sit out life.  For those that can, more power to you. 

Now that's an odd outlook.

If you're not making an income then you are "totally sitting out life?"

Come now, you KNOW there are tons of things you can do to volunteer, and help people out, and travel, and do fun things ... matter of fact, I've found since I've retired that grinding away for an income is a lot closer to "sitting out life" than doing what I actually want to do every, single day ....

Lannis

[AMGeneral]

Retire? Chet is a full time farmer now, when he isn't at the shop working on Guzzi's, or at the casino!

Enjoy the winnings! Happy Birthday!

Stay

[Tom]

Now that's an odd outlook.

If you're not making an income then you are "totally sitting out life?"

Come now, you KNOW there are tons of things you can do to volunteer, and help people out, and travel, and do fun things ... matter of fact, I've found since I've retired that grinding away for an income is a lot closer to "sitting out life" than doing what I actually want to do every, single day ....

Lannis

I corrected my original post for you.  The generate income is for ME.  If you read yourself into that then you read wrong.  You know I volunteered coach at the high school but I have a  for those that can do whatever they want after retiring from employment. 
You are obviously ok.  I didn't put in the post.  Lannis this pertains to you. 

[Lannis]

I corrected my original post for you.  The generate income is for ME.  If you read yourself into that then you read wrong.  You know I volunteered coach at the high school but I have a  for those that can do whatever they want after retiring from employment. 
You are obviously ok.  I didn't put in the post.  Lannis this pertains to you. 

I understand your explanation, but it's hard NOT to read it the way I did ("being retired is sitting out life".    adding "for ME, not for YOU" implicitly).

Sort of "buy a hat like this and you get a free bowl of soup, huh?"   "Oh, looks good on YOU though"   

Lannis

[JJ]

Retirement ain't what it's cut out to be......   Gotta find something else to occupy your time.  Sell everything and hit the road. 

The late Dr. Stephen Covey once said:  "Never retire to leisure...only to projects"

Another one I always remembered from my college graduation day, our commencement speaker, the late CBS TV anchor, Jim Jensen told us: "Never stop learning..."

[Tom]

I understand your explanation, but it's hard NOT to read it the way I did ("being retired is sitting out life".    adding "for ME, not for YOU" implicitly).

Sort of "buy a hat like this and you get a free bowl of soup, huh?"   "Oh, looks good on YOU though"   

Lannis

Most of the time, I don't wear a hat......but I will take a free bowl of soup.  .....well maybe not.  Depends on the soup.

[Gliderjohn]

So far the biggest joy of retirement is not being tied down to an iron clad schedule as most of us did when working. I stay quite busy but can still have a few "coffee breaks" through most days, or if I want to do something or go some where it can generally be done with little problem.
GliderJohn

[Tom]

The time scheduling is yours.    Since I wasn't coaching during the summer.  The National Rally was way easier to attend.  Now I'm under a time constraint to get back here.   

[Arizona Wayne]

The time scheduling is yours.    Since I wasn't coaching during the summer.  The National Rally was way easier to attend.  Now I'm under a time constraint to get back here.   

Tom, I say you're still in your 50's.   Your health is good  so there's no need for you to retire yet.  Some of us are not so lucky as you.   Everybody has to decide what's best for them for whatever reasons.   

[Chet Rugg]

amgeneral  I am part time everything

[Muzz]

Happy (belated) birthday Chet.

We have universal superannuation here. Everyone gets it when they turn 65. If you carry on working (as I did) they tax the the tripe out of it. I worked for another two years and got some extra equipment for the workshop. Stopped work at the end of last year but I seem to have more than enough to keep me occupied. Am able to get out on the bike more, which is good.

Am thoroughly enjoying what I want to do rather than doing what I have to do.

[Rough Edge racing]

 My own opinion is to retire as soon as you can...let a younger person have your job that may need it more than you....And by retire I don't mean doing nothing all day...

[Lannis]

Happy (belated) birthday Chet.

We have universal superannuation here. Everyone gets it when they turn 65. If you carry on working (as I did) they tax the the tripe out of it.

Am thoroughly enjoying what I want to do rather than doing what I have to do.

As Mark Twain said (I think) "Work is that which you are obliged to do.   Leisure is that which you are NOT obliged to do".

We don't call it "superannuation" but we do call it "Social Security" and it works the same way - the payments are such as to discourage you from working after you're eligible.

And I suppose that's a good thing for the young people, assuming that there are still any around that can be arsed to actually DO the work that we used to do.   Six hundred jobs open in our little region here in Virginia, from unskilled to sales to engineering, and no takers ....

Lannis

[wcguzzi]

I'm there myself. In fact I retire tomorrow as well. Congrats to you.  My plan is to pick up a new bike. Italian if possible. Multi 1200 touring, so I can visit JJ in Sedona.

[atavar]

Yeah, I have to get on the stick and get set up to.  I can apply for SS in six months. Being an overweight smoking couch potato I would be silly not do start collecting the first day I can. 

[Ncdan]

What ever you do Chet don't sit down and stop having fun. That causes old age to sit in;)

[Cool Runnings]

Well I got lucky(kinda) and have yet to tap into my SS @ 73 years young.  But retired from work @ 54 yo.   All I had to do is fall off a ladder 14' up at work, crack my skull, and end up with a 100% disability for life.    Been retired for 19 years so far.     Before my injury I didn't know if I'd ever really have a retirement.  Some times life moves in strange ways.

You guys waiting many years before you plan to retire.  You're assuming you are going to iive a long life.  I saw a guy who died before he received his 1st retirement check.   

Went out @ age 50 

[ritratto]

What to do? Got to Kathmandu!   

[Cool Runnings]

Spend a few hours everyday @ the health club. One gentleman I know was I big shot for UPS. Lived all around the world, retired at age 55. I asked about his pension, he said it's absurd. I figure he went out with millions. He's 58 now and doesn't miss work period! 

[Lannis]

Went out @ age 50 

My retirement financial adviser (who moonlights as a Texas turnip farmer) went out at 52 as I remember, and told me how he was doing it.   I delayed all the way to 59 but everything is working as planned.   You find ways to spend less money, you find clever ways to pay the doctor, and you stay ON THE ROAD and STAY BUSY.   

The only thing getting in the way of that at the moment is KBRA duties, but that's controllable ....

Lannia

[Gliderjohn]

Basically do anything to keep from becoming a couch potato, that will kill you. Besides the beauty and solitude another reason that we built in the country was that it forces us to be active taking care of things which is quite a bit more demanding than most city lots. We also attend a local wellness center M-F for exercise.
A retired doctor that I met at the center told me that when you retire spend about half your day taking care of yourself.
BTW, had a great about 80 mile ride today. Sun and upper 60s with light wind. Even better, found no more oil leaks on the Norge. Bad news is that it no longer marks it territory when around other brands.
GliderJohn

[JJ]

Basically do anything to keep from becoming a couch potato, that will kill you. Besides the beauty and solitude another reason that we built in the country was that it forces us to be active taking care of things which is quite a bit more demanding than most city lots. We also attend a local wellness center M-F for exercise.
A retired doctor that I met at the center told me that when you retire spend about half your day taking care of yourself.
BTW, had a great about 80 mile ride today. Sun and upper 60s with light wind. Even better, found no more oil leaks on the Norge. Bad news is that it no longer marks it territory when around other brands.
GliderJohn

Well said... :1: ....and especially given the sad state of our healthcare system in this country.

Keep active...stay healthy...keep moving forward!  

...as an old Phoenix DJ used to say: "I'll be mellow when I'm dead!!"

[Sheepdog]

I retired at 51 from a government job with a twenty year retirement and kept my health insurance. The wife and I moved to Louisiana where our parents lived and started looking after them while we built a house and started putting together a farm. We ended up building three houses and three chicken coops (and I made some epic motorcycle trips). I went back to work when someone made me an offer I couldn't refuse. I worked until my mom passed and started drawing down my investments at the rate of 5% per annum. Now that I'm sixty, we're living pretty comfortably and are looking forward to a decent raise (working those extra years with a pretty good salary really enhanced what my monthly will be) when I'm eligible for SS at 62 1/2. I work hard as a retiree. Between three of us, we keep about 13 acres mowed, we manage a garden and a bunch of poultry, I maintain most of our equipment, we still have three old folks to help out, and we manage to do a little volunteer work. This year we'll be remodeling our kitchen and adding a couple of rooms to our main house. There will come a time when the rocking chair will beckon, but it'll likely be a while before I succumb...

[Tom]