Aldeer.com Forums Alabama Deer Talk Aldeer General Forum Another reason to retire at 62 post

Could’ve sworn I read there was legislation introduced to do away with the penalty for taking at 62 to 67

I retired last July 22 at 55. I know to many teachers that chose to teach into their 60s for one reason or another and then retire. Then within a year passed away. So said.

No truer words have ever been spoken!

I worker in education for 21 years. Basically I worked half a year. Total days on the clock was 186. This time frame allowed me to work and run the farms as needed. Summer is busy with stocking up on hay and feed for the winter-I was off each day during hay season except the last cutting around the end of August. I couldn’t ask for a better setup and job. I worked my way up by doing what I was supposed to and then more. Made connections with almost all the parents of the 500 students at my school. Had them on my side and they trusted and respected me. I had a great job but the ever changing demands of a computer and technology age wore me down trying to keep up.

I worked until I was 67 and would not change a thing. Taking another job with another school system beginning July 1st! Can’t wait to get my new role started. Working keeps me young at heart! I can’t imagine staying home with my wife all day either!!

Some may need to work later in life but if you can move on…….

None of us is promised the end of today or to see tomorrow and we have no idea what the future holds.

I’ll take mine as soon as I’m eligible

My conclusion from looking into everything (58yr old).

No matter when you take your SS, no matter your income bracket, etc:
80-82 is when you break even.
The bigger consideration for me is this: When I die my wife gets to take the greater of her SS or my SS income.

I plan to take mine later and let her retire early. I will retire as needed. Health, start hating working, etc.

SS is just going to be a little extra to my retirement. SS is not my retirement plan. 401, Roth, houses and condos (generating rentals), and a lot of stocks, plus gold and silver. SS is just going to be extra.

I run my Social Security line item at $0 monthly in my retirement calculations, mine as well plan for reality.
Assuming historic returns, I should be able to lift off the gas here soon and let things coast, glad I put in the last 10 years.

This is truth.

I'm 64 and wanting to retire soon. The problem I have is my employer dangling that carrot in front of me. In the early part of the year, I want to wait a few months, so I get big profit-sharing disbursements in May and June. In June I want to wait until the end of the year so I get the next big bonus.

I ain't getting any younger and the men in my family are not known for living to 70. So ... I suppose I need to sh|t or get off the pot

Keep in mind that the life expectancy of someone that reaches 65 year of age in the U.S. is 84 for male/86 for female. If that person is a healthy non-smoker; can be late 80's.

As you noted, teaching ain't exactly the same as a real job. Just sayin. You can teach and still live a decent life. To those with the soul sucking corporate jobs, manual labor jobs, or any high stress jobs, get out ASAP.

Teaching is not a "real" job??
"Teaching is widely recognized as one of the most stressful professions, often rivaling high-stakes fields like nursing. It is mentally, emotionally, and physically demanding, characterized by high rates of burnout and significant turnover—with up to 44% of educators leaving the profession within their first five years"

I’m gone at 62 regardless of SS cuts or whatever the crooks take from me.
That’s it, 62.

I've done both and know what I'm talking about.

The problem may well be insurance. Don't think medicare/medicaid kicks in until 65. That's the way the criminal class (politicians) milk the last little bit of taxes out of the working class.

I turned 62 yesterday. Not sure when I will retire. Enjoy what I do for the most part, fortunate enough to come and go as I wish, within reason. I had kind of planned on volunteering with Engineers without Borders in my retirement but they are mostly doing just clean water projects which is out of my expertise. So, not sure what retirement will look like when I decide to do it. Volunteering at Church/Christian related stuff for sure, but I'll need more than just hunting, fishing, gardening and working on my land to keep busy.

People die all the time and at all different ages. I never really consider how long I might live when contemplating retirement. The dying early should motivate you to not put off your bucket list items until you are retired. Live in the moment with an eye towards the future.

One pattern you will pick up on with these types of threads is you don't see a lot of people who make really good money wanting to retire abnormally early. Young folks should consider that in their career choices. Find something that you aren't in a rush to get away from or something that you are making so much money, you don't want to give it up to go sit at home on a budget.

Two months away from 62 here and health insurance the only hangup. Crazy expensive on your own. Gonna go one more year to 63 and see if I can find something competetive by then.

My ex employer pays 50% of the premium until age 65