Posted by: Dotsie

Retiring? - 04/21/07 04:15 PM

Are you retiring soon? Do you know nayone who is? If so, what are you most excited about, and what are your greatest concerns?
Posted by: CrosstitchQueen

Re: Retiring? - 04/22/07 01:31 PM

I'm not retiring soon, but I did retire kinda early.........I worked from the time I was 16 until I was 34, when I got married, and quit working to be able to travel with my husband who was doing alot of volunteer work for a veterans organization at the time which required a lot of travel. So I guess you could say I retired 16 years ago, when we got married.
My biggest concern at the time was no longer having my own paycheck, it took some getting used to being given a montly "allowance" to handle groceries and household expenses. We had been living together for a few years but until I quit my job, I used my paycheck to handle things like my car payments, my credit card bills, etc. By the time we got married everything was paid off and we worked out a financial system that works for us. And we have taken care of business so that I will be ok financially if something were to happen to my husband (disabled veteran).
I was excited about not having to deal with the stress of a 40+ hour per week job, and worried about how I was going to fill my days when we weren't traveling. Staying in touch with some friends became a challenge because I was the only one of my old gang that wasn't working and our schedules just didn't jive anymore. But as I got involved in other things, more friends came along. It did take a while to adjust to the idea of not having to go to work every day.
Somehow, 16 years later, filling my days is no longer a problem -- finding time to do eveything I want to do in the course of a day is the problem these days!!
Posted by: jawjaw

Re: Retiring? - 04/22/07 02:24 PM

I retired two years ago this last February and now I work 7 days a week. Go figure. BUT...the difference is it is heaven now. I LOVE MY JOB(s).
Posted by: orchid

Re: Retiring? - 04/23/07 02:40 AM

I am far from retiring and cannot consider retiring early.

But is useful to know people, close, who are retired to see how they handle it to prepare better for future.

Yesterday, while having a coffee at market, we met a woman who was forced to retire early..and she moved to Ontario after living in Vancouver for 30 yrs. She regretted the move and felt she should have waited for 1 yr. after shock of job loss. Now she cannot move back because of cost.

A close friend of mine retired abit early (maybe by 3 yrs. early) without much impact on company pension. A single, childless woman her whole life who owned a home (several times).

She finally decides to:

a) not have a car. She sold her car after working out the cost. She lives 5 min. from subway, buses and many stores, services, restaurants. She drove a car for about 40 yrs. of her life. She uses taxis several times per year.

b) She rents after having home ownership for 30 years. She decided not tie up her equity so much. Just very carefully live in lower rental place, etc. Not sure I could do that...but she has thought this one through.

She knows the consequences of aging, retirement...I mean she was medical librarian specializing in geriatric medicine and sociology of aging for 15 years. So one does see alot of useful info. to prepare...eyes wide open for the future.

Note: I began my career by working for this woman in the same area of medicine. Just in my mid-20's I was working in a place that happened to be a good nursing home. At the cusp of life, to witness others in twilight. An excellent learning point for make good of life now, not when I'm retired and not as strong/fit.

I also worked for judges for several years. Judges in Canada do have the choice as their work benefit to retire at 72-75. Before, they can work part-time, still presiding over court cases, writing up court decisions, etc. It is inspiring to witness very sharp minds still nearing 70. A powerful indicator that if you keep your mind very active, full of positive learning and contribute to your community, it will keep your brain still alert...and happy.

My partner took early retirement. He has a few friends, who retired at 65 or just a bit early. Yes, they are all healthy because...they still bike, volunteer alot. Often you cannot only tell in their body shape (no not every is svelte, but certainly not plodding along in footstep), but in their faces...alert, a certain fitness in their skin/face and relaxed.

Very true, that our generation could live abit longer with better quality if we plan abit better. So much information to help us if we take advantage of that good info. for our well-being.
Posted by: Dotsie

Re: Retiring? - 04/23/07 05:08 AM

crosstitch, great to see you. How've you been? I'm glad you've settled in to your retirement. Prior to working, I never had a hard time filling my days either.

What about health insurance in retirement? What are women doing about that?
Posted by: CrosstitchQueen

Re: Retiring? - 04/23/07 11:44 AM

Hi Dotsie, I'm doing great. Just been busy, (fishing tournaments and the usual) but things should be quieter for a while and hopefully I'll find more time to spend here on the boards again!
Health insurance was not an issue for me as I'm entitled to health insurance thru my husband -- he gets full coverage thru the VA and I have full coverage thru Tricare (although we do pay for a supplemental to pick up where Tricare leaves off and it seems like the rates go up every year.......we pay more than twice now, what we paid when we first signed up with the supplemental 16 years ago).. I have retired friends though who pay unbelievable amounts for their health insurance and don't have nearly the coverage that I's definitely a concern for many.
Posted by: Dotsie

Re: Retiring? - 04/24/07 09:55 AM

Maybe you and your hubby can hook up with chick. She's a big fisherwoman too! Good to see you back.
Posted by: chickadee

Re: Retiring? - 04/24/07 05:34 PM

Yes Dotsie, I would rather fish than eat...well almost. Crosstitch we'll have to "hook" up next time I'm in Florida.
Posted by: Pam Kimmell

Re: Retiring? - 04/27/07 08:34 PM

My hubby and I retired a few years ago and we are both extremely happy the way our lives have "evolved" since then. I am free to write whenever I want to, he's free to go flying whenever he wants to instead of just on weekends, and we can travel whenever we feel like it instead of scheduling it around our jobs.

We are very fortunate - we realize that. His health benefits cover us totally and with all the health issues I myself have had (!!) this has been a real blessing.
Posted by: orchid

Re: Retiring? - 04/28/07 05:54 AM


.What about health insurance in retirement? What are women doing about that?

Dotsie, it really is different in Canada in terms of health care. For Canadians, if a person got a heart attack, they would get paramedic/9-1-1 aid, care in hospital with cardiologists in some cases, etc.... and the Canadian wouldn't have to pay for the diagnosis, etc. For a Canadian just under Medicare, they might not stay as long in hospital or not get a private room, but hey, you are not charged fees.

It is part of our Medicare system -across Canada, whether or not you are poor or wealthy.

A woman would worry more about her housing (if she is living in a high real estate priced city, etc.), ....other stuff.
Posted by: yonuh

Re: Retiring? - 04/28/07 04:11 PM

I 'retired' from the University a little over a year ago because I was fed up with the BS and with not being appreciated. Now I get state retirement and elected to continue with their health insurance. The state insurance is a good one that covers health, vision, and dental, so I can't complain. However, it takes up more than half my retirement check and just went up another $50 this year. Now, I'm working part-time for the Humane Society and taking classes part-time. Fortunately, I have a tuition waiver (as a retiree of the University) that covers about 90% of my tuition. I had to take a leave of absence for the rest of this semester because I couldn't keep up with two classes after my Mom died, so I am using the time to learn more about coaching and information research. I'm hoping that by fall when classes start again, I can have my businesses up and running and can quit my other job. If that doesn't work out, I'll just keep my 'day job' and keep taking classes.

I didn't plan very well for retirement financially. My savings aren't much at the moment, but I'm positive that working for myself will pay off in the long run. I'm just keeping a positive outlook and visioning a great future for myself.
Posted by: Dotsie

Re: Retiring? - 04/29/07 02:16 PM

Yonuh, it's great to know you have options. What are you doing for the Humane Society? Curious to know if that's more of a passion type job.
Posted by: yonuh

Re: Retiring? - 04/29/07 02:24 PM

Dotsie, I'm doing clerical/accounting-type stuff. I am passionate about what the Humane Society does in educating the public. They also have an Animal Cruelty Taskforce in partnership with local law enforcement agencies. Sure, there are conflicts within the organization (aren't there always?) but the overall mission is what's important. I couldn't work for a big corporation any more, so non-profit is more in line with what I believe and practice.
Posted by: Elsielc

Re: Retiring? - 05/13/07 09:14 AM

I "retired" early, when I was 53 in order to do elder care for mother and aunt. my job at the time was a stressful sales position in the technology field. Not really sad to leave it (except for the pay!). I planned to go back to work, in probably a different position, after things settled down. Well, 1-1/2 years into that "retirement" I was diagnosed with Breast Cancer. That changed everything. For a couple of years couldn't work even if wanted to. Now that I feel well enough to find a job, I've discovered that I don't want to spend the rest of my life working that hard again. Life is just not for work, work and more work. I am lucky enough to be able to scrape by financially (heaven help me tho if I beat this cancer thing and live another 30 years!!). However, with the cost of medical care and knowing that a major medical crisis could hit you at any time, I would be very concerned about taking an early retirement and having to get private insurance. Wait until medicare can cover you. So, when I talk to people about early retirement and the benefits, I say it's great...unless you get sick....
Posted by: chatty lady

Re: Retiring? - 05/21/07 12:07 AM

I just retired on paper only, already have Medicare (whew!!)and instead of a widows benefit, as of June I will be collection on my own earned funds. I could have waited until age 70 and gotten a few hundred bucks more but hey, what if I'm dead? So I will be getting my own and its a lot more than what I was getting as a widow. I am very happy right now doing the happy dance...
Posted by: Dianne

Re: Retiring? - 05/21/07 01:04 PM

Good for you, Chatty. Health insurance is something we worry about after the hub retires. I doubt that he could even find a company to take him on with his health problems.
Posted by: chatty lady

Re: Retiring? - 05/27/07 10:14 PM

He might be able to but the premiums would probably be quite high.
Posted by: Louisa

Re: Retiring? - 06/03/07 03:29 AM

My husband has retired and now that's he's 65, he has signed up for Medicare. But, Medicare isn't enough. You have to have a supplemental insurance. Med A only pays hospitalization. I switched to the family plan on my insurance at work. It's very expensive, but I don't want to chance being without it. (for either one of us)
Posted by: char222

Re: Retiring? - 06/17/07 01:49 AM

I retired early because my husband retired from his job and we wanted to travel and enjoy life...He died of cancer a year and a half later -- that was three years ago. I'm not sorry I left work and am grateful to have had 24/7 for that time but now I'm stuck....I took widow's benefits from social security and can only make a small amount if I work. Can't seem to find my way -- any suggestions???
Posted by: Dancing Dolphin

Re: Retiring? - 06/17/07 01:51 AM

Hi Char, and welcome to the forum. It's good that you got to spend that time together, but it sounds like a tough situation now. How old are you, if you don't mind my asking? Will you eventually be eligible for your own SS benefits?

Posted by: char222

Re: Retiring? - 06/17/07 02:00 AM

I just turned 60...and I've been told what I receive now is what I will always receive....My children are all grown and are scattered all over the US..having trouble being single at this point in my life - nothing seems to "fit" right for me. I'm totally new to the internet and am just starting to find things - luckily I found this site!! Health care is expensive - I live in NY and expensive is the name of the game here....
Posted by: chickadee

Re: Retiring? - 06/17/07 02:45 AM

Welcome char222. This site will be a perfect 'fit' for you. Now you can share in what many of us Boomers are going through. Sure hope you'll stick around.
Posted by: char222

Re: Retiring? - 06/17/07 03:26 AM

thanks chick....I already feel that 'fit' ....hope my limited computer skills won't mess me up - I'd love to stick around...
Posted by: Louisa

Re: Retiring? - 06/17/07 11:39 AM

Welcome char222. If you took an early retirement, I think you may be stuck at that rate. But, since there are widows benefits involved, I don't know how that works. You should speak to a tax accountant or tax attorney and find out the real deal. If you had not retired yet and were going to retire at 62, I know you would have had to take a reduced benefit and would not be able to change later. But, you would have had a choice of taking your own or half of your spouse's if it that amount was more than the whole amount of yours. I don't know that you have that choice now. You can find the social security website and look stuff up, but it is very confusing reading material. You can call them (and it sounds as though you already have) but, I still think it couldn't hurt to talk to an attorney, preferably a tax specialist. My husband retired a year ago and we've been through the which way to go stuff. I am turning 60 this month but do not plan to retire until I'm about 65. (Original plan was 62, but it ain't gonna work due to health insurance.)
Posted by: Dotsie

Re: Retiring? - 06/17/07 12:32 PM

char, welcome to the neighborhood.

Here is a link that may be helpful. It's for widows and it's from the social security site. I don't know if it will help, but it might be a start. Sometimes I think it's better to start online and then make phone calls.

If you are new to the internet. All you need to do is click on the http link above and it will take you to the site.
Posted by: Saundra

Re: Retiring? - 06/17/07 10:15 PM

Oh, Dotsie, you always make me laugh when you ask about retirement. Uh, maybe I'm not laughing...maybe I'm hysterical.

I turned 60 in May and don't see how I can retire at 62, let alone at 65 or 70. I'll try to go on disability (with my back problems) which pays more than retirement. Should that time come, I can't imagine being bored if I'm not working.
Posted by: Saundra

Re: Retiring? - 06/17/07 10:16 PM

Oh, sorry, Hi Char. Welcome! Why did my post number not go up on this one (not that it matters, much)?
Posted by: Louisa

Re: Retiring? - 06/18/07 01:39 AM

I don't think I'll be bored when the time comes either.
Posted by: char222

Re: Retiring? - 06/18/07 12:14 PM

Thanks so much for your welcomes and input....It seems there are many friends here....
Posted by: Edelweiss

Re: Retiring? - 06/18/07 04:55 PM

Hi Charr 22! Good for you for learning the internet at 60! The more you do it, the less complicated it will seem...hey, and the more you post here, the better you'll get at it...
Posted by: meredithbead

Re: Retiring? - 06/20/07 03:02 AM

Welcome Char! Where in LI are you? My mom lives in Merrick.
Posted by: jawjaw

Re: Retiring? - 06/20/07 10:58 AM

Welcome Char22! I've been away from the forums for a few days or I would have welcomed you sooner. I admire you so much for tackling something as new and as as big as computers and the Internet. You go girl! Before long, you'll be teaching computer classes I bet.

You're going to love it here. And ... pretty soon you'll be like the rest of us, addicted. Mahahahah....ahem.