Poll: Are you going to retire? And if so, when?

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At what age do you plan to retire, if ever? If you are retired, what age did you retire?

Never
3
1%
After 70
11
3%
60-70
122
37%
50-60
147
44%
Before 50
36
11%
Undecided
14
4%
 
Total votes: 333

Topic Author
berntson
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Poll: Are you going to retire? And if so, when?

Post by berntson »

I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
Last edited by berntson on Sun Mar 09, 2014 12:19 pm, edited 1 time in total.
island
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Re: Poll: Are you going to retire? And if so, when?

Post by island »

Need a choice for undecided
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Wildebeest
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Re: Poll: Are you going to retire? And if so, when?

Post by Wildebeest »

Thank you for posting the link. I greatly enjoyed the article.

If my health stays good ( apparently work contributes to this) and my mind stays sharp, I would enjoy to continue to work for as long as I can stay my own boss. I picked work for ever.
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Tycoon
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Re: Poll: Are you going to retire? And if so, when?

Post by Tycoon »

If I stay on track I'll retire at 55. 41 years of work is more than enough.
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baw703916
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Re: Poll: Are you going to retire? And if so, when?

Post by baw703916 »

berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
Correlation vs. causality?

#'s 2-4 Could be due to a substantial proportion of people retiring because they were starting to have health problems, as you point out. #1 doesn't seem like it would be.

This is where a prospective study would be needed--get a bunch of people who are all working at 55-60 with no major health issues and then look at them 10-15 years later, and see if there's a correlation between whether they retired and their state of health--and when the onset of any health issues occurred relative to their retirement date, if they did retire.
.
Last edited by baw703916 on Sun Mar 09, 2014 11:41 am, edited 1 time in total.
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letsgobobby
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Re: Poll: Are you going to retire? And if so, when?

Post by letsgobobby »

You need a button for, "One more weekend like this one and the sooner the better." :x
Rodc
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Re: Poll: Are you going to retire? And if so, when?

Post by Rodc »

Define retire.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
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Garco
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Re: Poll: Are you going to retire? And if so, when?

Post by Garco »

I will retire at age 70. I clicked the category 60-70 in the questionnaire.

By "retire" I mean I will leave my principal place of employment, and I have no expectation of ever again doing any more work for pay -- either part-time or full-time. I read the "case for never retiring," and don't think any of the circumstances apply to me. I've worked long enough and look forward to some travel and leisure while I am still able to enjoy it.
Topic Author
berntson
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Re: Poll: Are you going to retire? And if so, when?

Post by berntson »

Darn it. I added an "undecided" option to the poll, and it got rid of the earlier responses. Please revote if you voted before the undecided option was available!
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Rob5TCP
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Re: Poll: Are you going to retire? And if so, when?

Post by Rob5TCP »

My consulting is not physically demanding and the mental stimulation is great.
I will stop taking new client when I hit 60 or 65; and then gradually keep the ones I prefer after age 70.
I do not expect to retire, but to take more time away.
When I hit 50 I started to take longer vacations and last year - took a total of almost 8 weeks off.
Yes, having my own business makes it easier.
trees
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Re: Poll: Are you going to retire? And if so, when?

Post by trees »

I'm aiming for financial independence well before 50... Whether I'll then actually retire as define above, keep working, or switch to part time work in a different field is still too far away to decide.
bigred77
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Re: Poll: Are you going to retire? And if so, when?

Post by bigred77 »

I'm too lazy to not retire as soon as feasibly possible. I'm aiming and planning for mid 50s.

I'm a long way off but if I don't hit my "number" by 60, I think I'll call it quits anyway and adjust my retirement expectations.
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Garco
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Re: Poll: Are you going to retire? And if so, when?

Post by Garco »

berntson wrote:Darn it. I added an "undecided" option to the poll, and it got rid of the earlier responses. Please revote if you voted before the undecided option was available!
Your categories 50-60 and 60-70 overlap. If someone expects to retire at age 60, which category are they in? This is a common error in polls on this discussion board, despite the fact that Bogleheads are quite numerate. 50-59, 60-69, 70 or over would be better.

But don't change your poll now!
MnD
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Re: Poll: Are you going to retire? And if so, when?

Post by MnD »

berntson wrote:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
A lot of retirements are poor health related. Also many retirements are forced retirements where the retiree is often not prepared to retire mentally, financially or emotionally.
Neither form of these type of retirements would lend themselves to good post-retirement reporting on physical or mental health.

Seriously - how many people in the real world are all set up for a healthy and well-planned voluntary retirement? Not a big percentage.
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wwhan
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Re: Poll: Are you going to retire? And if so, when?

Post by wwhan »

I Plan to retire at 65, if;

1.) My health is fine.
2.) My employer will let me work that long.

Hunting for a job, when over 60, is often difficult in corporate america.

Many large companies want younger, cheaper employees, with maximum energy.
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zaboomafoozarg
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Re: Poll: Are you going to retire? And if so, when?

Post by zaboomafoozarg »

If all goes as planned and returns are semi-decent in the next 15-20 years, I will reach FI at 45-50. That might not be the point of total retirement, but I'd like to at least have some time off to breathe for a while, and do things I want to do before I get too old to do them. Then I'll decide what to do after that.
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zaboomafoozarg
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Re: Poll: Are you going to retire? And if so, when?

Post by zaboomafoozarg »

Garco wrote:Your categories 50-60 and 60-70 overlap. If someone expects to retire at age 60, which category are they in? This is a common error in polls on this discussion board, despite the fact that Bogleheads are quite numerate. 50-59, 60-69, 70 or over would be better.
I always assume this means [A, B) and [B, C)
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TimeRunner
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Re: Poll: Are you going to retire? And if so, when?

Post by TimeRunner »

deleted
Last edited by TimeRunner on Wed Dec 12, 2018 11:55 am, edited 1 time in total.
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Crimsontide
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Re: Poll: Are you going to retire? And if so, when?

Post by Crimsontide »

Plan to retire in 3.5 years, @55 YOA...
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GerryL
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Re: Poll: Are you going to retire? And if so, when?

Post by GerryL »

I have been planning to retire in May 2015 when I am a few months shy of 67. However ... there is some turmoil at work and I am mentally preparing myself to possibly be out by my 66th birthday. I'll be okay financially, but I have long aimed to retire in May so I will have the whole summer and early autumn to get out and about while the sun is shining before I go into hermit mode.
terrabiped
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Re: Poll: Are you going to retire? And if so, when?

Post by terrabiped »

These findings:
berntson wrote:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
Are preceded by this explanation:
A survey from the U.K.-based Institute of Economic Affairs found it "possible that health will initially improve when somebody retires and then, after a while, start to deteriorate due to reduced physical activity and social interaction."
My retirement plan includes increasing my physical activity and social interaction, so I'm not worried about this. Currently on track to retire in 2021 at 65.
Last edited by terrabiped on Sun Mar 09, 2014 9:31 pm, edited 1 time in total.
MathWizard
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Re: Poll: Are you going to retire? And if so, when?

Post by MathWizard »

I understand the reduced social interaction.
I expect greater physical activities
after I am not tied to a desk.
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Garco
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Re: Poll: Are you going to retire? And if so, when?

Post by Garco »

zaboomafoozarg wrote:
Garco wrote:Your categories 50-60 and 60-70 overlap. If someone expects to retire at age 60, which category are they in? This is a common error in polls on this discussion board, despite the fact that Bogleheads are quite numerate. 50-59, 60-69, 70 or over would be better.
I always assume this means [A, B) and [B, C)
I don't. I do too much data analysis in my day job, in which this kind of coding overlap is verboten because it leads to ambiguity and error.
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FrugalInvestor
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Re: Poll: Are you going to retire? And if so, when?

Post by FrugalInvestor »

Not only do I plan to retire but I did retire, at 50, over ten years ago. The results of the studies you mention are not descriptive of my experience at all. I am much more active and in better shape mentally, physically and socially than at any other time in my life.
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scrabbler1
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Re: Poll: Are you going to retire? And if so, when?

Post by scrabbler1 »

baw703916 wrote:
berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
Correlation vs. causality?

#'s 2-4 Could be due to a substantial proportion of people retiring because they were starting to have health problems, as you point out. #1 doesn't seem like it would be.

This is where a prospective study would be needed--get a bunch of people who are all working at 55-60 with no major health issues and then look at them 10-15 years later, and see if there's a correlation between whether they retired and their state of health--and when the onset of any health issues occurred relative to their retirement date, if they did retire.
.
+1 on both of your points.

My mom basically retired at age 55 because she had become diagnosed with cancer and died 5 years later. Her retirement followed her disease, not the other way around. My dad retired at 63 on his own terms and is still alive and well 20 years later, at 83. I retired 5 years ago at 45 on my own terms and am alive and well, and feeling better than when I was working.

What about the reduction of stress after one retires? My old job was not particularly stressful but the morning routine and the commute were, even only 1 or 2 or 3 days a week which is what I had the last 7 years I worked.
IlliniDave
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Re: Poll: Are you going to retire? And if so, when?

Post by IlliniDave »

I answered 50-60, but what I'm doing would more properly be called semi-retirement perhaps. I will be leaving my full-time "professional career" but anticipate that I'll be doing some sort of work on a less than full-time basis, perhaps paid, perhaps volunteer, depending on how robust my financial position is 5 years, 1 month, and 30 days from now (not that I'm counting down or anything :) )
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IlliniDave
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Re: Poll: Are you going to retire? And if so, when?

Post by IlliniDave »

berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
One thing that seems apparent from an amount of research I've done is that the specifics of a retirement factor a lot into the well-being of the retiree. People often wind up depending on their job/profession for significant portions of their social contact, sense of accomplishment/value, and daily routine/activity. When they pull the plug on those things and park themselves on the couch in front of the TV, then it's not uncommon to see mental and physical health deteriorate in a correlated manner.

Retirees who have a healthy and (importantly) active "leisure" schedule, and who maintain social ties, tend to fare much better for much longer.

Since becoming single and having my kids grow up and establish their own lives, I've been pretty job-centric in my existence. So, I've been actively planning for my post-career years by developing/rekindling some hobbies of both intellectual and artistic natures, exploring some educational opportunities, exploring some opportunities for part-time work (more for personal fulfillment than for money).

There's a saying I first encountered in Crossfit: "You don't stop moving because you get old, you get old because you stop moving". Obviously it has its limitations as far as applicability go, but there's a grain of truth to it. So, my plan will be to keep moving to whatever extent I can. Retirement doesn't mean I'm going to stop living--it just means I'm going to redirect my full life/energy differently.
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midareff
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Re: Poll: Are you going to retire? And if so, when?

Post by midareff »

According to Spectrem Research, 31% of workers with incomes over $750,000 say they're waiting until age 70 or later to retire. And a full 15% of those wealthy earners say they never plan to retire.

Proponents of a "never retire" lifestyle say that remaining in the workforce keeps you vital, engaged — and healthier. And there seems to be research to support that theory.


I would suggest to you the article does not pertain to all but very few. With an income over $750K annually I suspect you are a large business owner or other ultra high level executive whose working life does not resemble anything I can relate too, or that probably 98% of the population can relate too.
kaudrey
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Re: Poll: Are you going to retire? And if so, when?

Post by kaudrey »

My parents retired at 57 and never looked back. That was 19 years ago. I remember my dad once saying, probably 10 years ago, that they were busier than when they were working! They had hobbies, friends, interests, and a wonderful full life after retirement.

I plan to do the same - on track to retire at 57 (which is great for my DH, since we've agreed he can retire when I do, and he'll only be 52...). We are building in big travel budgets for the first 10 years, and plan to see many parts of the world that we won't see before then. And we will keep up our active lifestyle - we play a variety of sports, love the outdoors (hiking, camping etc), plan to volunteer...

I think one issue, in addition to the health question that has been discussed, is that many people think about retirement in the abstract, but don't actually sit down and think "what I am actually going to do on a day to day basis?" If you can answer that question will all kinds of things, then I think a retirement will be much more successful (and not a negative to your health/mental well-being etc.).

My father had a coworker/good friend who couldn't imagine retiring when my dad did, because he had no idea what he would do all day. He finally retired 2 years ago at 75 (17 years after my father).
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Re: Poll: Are you going to retire? And if so, when?

Post by technovelist »

I voted "60-70", but I have an explanation. :happy

I retired, more or less by "invitation", 3 years ago at age 61. The first 6 months or so I was extremely busy working on a project that I couldn't do while employed. After that I relaxed until my wife told me I should get a job so she would have some time for herself. So I did. :D

I doubt I'll still be working when I'm 70, but I do need to increase my social involvement so I don't get bored after I'm not at work all day.
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Re: Poll: Are you going to retire? And if so, when?

Post by nash031 »

baw703916 wrote:
berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
[\quote]

Correlation vs. causality?

#'s 2-4 Could be due to a substantial proportion of people retiring because they were starting to have health problems, as you point out. #1 doesn't seem like it would be.

This is where a prospective study would be needed--get a bunch of people who are all working at 55-60 with no major health issues and then look at them 10-15 years later, and see if there's a correlation between whether they retired and their state of health--and when the onset of any health issues occurred relative to their retirement date, if they did retire.
.
Kinda my thought. All of these make sense and are probably true if you retire to nothing. A key aspect of retirement planning is spending the time to figure out what you're going to do with your time. I think a lot of people retire and just hang out around the house. Activity level fades, engagement in society and interpersonal relationships fade. I spend a lot of time at age 36 thinking about what I want to do when I retire, hopefully in my 40s. I can tell you that my activity level won't fade (it's damn high right now), but I do worry about social engagement. Still solving that one, but it seems to me that I can find more ways to interact with people than going to sit in a cube all day!

But the other end of it is most retirees are older. Some of that stuff can be tied to sheer age as much as it can be to whether they're working or not. To wit, my dad was diagnosed with pancreatic cancer just under two years after he retired... at age 77. Which of those is the more likely cause?

The real problem is most of us are too busy in our every day working lives to figure out what we really enjoy doing and what we would do if time was not a limiting factor.
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Re: Poll: Are you going to retire? And if so, when?

Post by chaz »

I retired at 74 - I liked my job.
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Re: Poll: Are you going to retire? And if so, when?

Post by dstac »

Rob5TCP wrote:My consulting is not physically demanding and the mental stimulation is great.
I will stop taking new client when I hit 60 or 65; and then gradually keep the ones I prefer after age 70.
I do not expect to retire, but to take more time away.
When I hit 50 I started to take longer vacations and last year - took a total of almost 8 weeks off.
Yes, having my own business makes it easier.
This. (Though I'll probably start scaling back a little earlier.)
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Midpack
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Re: Poll: Are you going to retire? And if so, when?

Post by Midpack »

Not the OP claimed anything, but this is hardly an audience that represents the broad mainstream. There are going to be on average more early retirees here.
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Boglenaut
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Re: Poll: Are you going to retire? And if so, when?

Post by Boglenaut »

Midpack wrote:Not the OP claimed anything, but this is hardly an audience that represents the broad mainstream. There are going to be on average more early retirees here.

Correct.

But we'd be real slackers compared to the Early Retirement forum.

http://www.early-retirement.org/forums/

:wink:
Throckmorton
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Re: Poll: Are you going to retire? And if so, when?

Post by Throckmorton »

FrugalInvestor wrote:Not only do I plan to retire but I did retire, at 50, over ten years ago. The results of the studies you mention are not descriptive of my experience at all. I am much more active and in better shape mentally, physically and socially than at any other time in my life.
Ditto. 49 1/2 here. Now age 70.
stonerolled
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Re: Poll: Are you going to retire? And if so, when?

Post by stonerolled »

In four years at age 55.
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sperry8
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Re: Poll: Are you going to retire? And if so, when?

Post by sperry8 »

berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
I don't believe those stats. It all depends on what you do after you retire. I retired 7 years ago at the young age of 38. I've been traveling the world (which is my passion) ever since. I couldn't be happier or healthier. My weight has dropped (not sitting behind a desk anymore) and have time to cook and make healthier choices. As for depression, I was much more stressed when working and had back pain and an eye twitch. All gone now. I suppose if you don't know what to do with your time, you may become bored and then ultimately depressed. But the key is to understand the things you love to do and then do them. Why would working for the "man" be one of them?
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supersharpie
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Re: Poll: Are you going to retire? And if so, when?

Post by supersharpie »

I am 30 now and want to retire as soon as possible. I am in the camp that feels "life is short, I could die tomorrow, the sooner I can pursue leisure/volunteer activities 24/7 the better." My hope is to retire after 25 years of Federal employment, assuming an "early retirement package" is offered that year as it has been every year since I have been hired. For me, this would mean retiring in 9/2032 at the age of 49.

The plan, subject to change of course, is to sell the home at that point, buy an inexpensive condo in a tax friendly state and spend the next 6 years using the net proceeds from the property sale along with Roth IRA contributions that can be withdrawn property taxes, along with modest pensions for my wife and I until we reach 55 and can start drawing on our 401k funds.

Absent having children, which is not something either of us desire at this point, or a major unexpected financial crisis; I think we will be in a position to take the plunge before we hit 50. All we can do in the meantime is save, save, save!!!
Throckmorton
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Joined: Thu Jan 23, 2014 2:34 pm

Re: Poll: Are you going to retire? And if so, when?

Post by Throckmorton »

Jan 1993 a tad under 50. Did some temp work on and off till 96. Have since evolved to being a slacker cum laude. My physical health has held up well. My mental health/attitude? Depends on who you ask. :D

I am lefthanded.
paper200
Posts: 274
Joined: Sat Feb 02, 2008 11:40 am

Re: Poll: Are you going to retire? And if so, when?

Post by paper200 »

I want to retire today (age 52), DW says nooooooo, So plan after 60. Want to enjoy life as it becomes shorter as we grow older. Have roof and food and auto to drive around which better than most in the world! Love watching "buying properties in Hawaii..." And dream about the permanent 80F weather. Live in NYS.
Having freedom, food and roof is being 90% lucky in life and so is index investing. So, don't let the remaining 10% bother you.
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wander
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Joined: Sat Oct 04, 2008 9:10 am

Re: Poll: Are you going to retire? And if so, when?

Post by wander »

I will retire at 55 when I can draw money from 401k fund.
supersharpie
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Joined: Wed Dec 22, 2010 1:28 pm

Re: Poll: Are you going to retire? And if so, when?

Post by supersharpie »

paper200 wrote:I want to retire today (age 52), DW says nooooooo, So plan after 60. Want to enjoy life as it becomes shorter as we grow older. Have roof and food and auto to drive around which better than most in the world! Love watching "buying properties in Hawaii..." And dream about the permanent 80F weather. Live in NYS.
Why does DW say "nooooooo?" Does she not realize either of you could be diagnosed with a terminal illness tomorrow?

If you have the $$$...do it, DO IT NOW!!!!
OutInThirteen
Posts: 381
Joined: Thu Mar 14, 2013 2:11 pm

Re: Poll: Are you going to retire? And if so, when?

Post by OutInThirteen »

wander wrote:I will retire at 55 when I can draw money from 401k fund.
If you'd like to retire even sooner, don't forget that you can withdraw from your 401(k) without the 10% penalty if you separate from service in the year you turn 55. So if your birthday is very late in the year, you can punch out as a freshly minted 54 year old.
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ofcmetz
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Location: Louisiana

Re: Poll: Are you going to retire? And if so, when?

Post by ofcmetz »

I will retire from the current job in my 40's. Whether I ever stop working will depend on health, wealth, and employability.
Never underestimate the power of the force of low cost index funds.
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HomerJ
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Joined: Fri Jun 06, 2008 12:50 pm

Re: Poll: Are you going to retire? And if so, when?

Post by HomerJ »

berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
I KNOW my health will improve once I retire, which will decrease the chance of a physical condition and taking drugs for that condition...

I'm really surprised that, in general, people's physical health would get worse with enough free time to cook for yourself and work out.

Loss of social contacts I could see causing depression for many people, maybe even myself (although I doubt it for myself)... but the physical health bullet points up there really don't make any sense to me.
RunningRad
Posts: 328
Joined: Wed May 21, 2014 2:06 pm

Re: Poll: Are you going to retire? And if so, when?

Post by RunningRad »

berntson wrote:I recently read an article entitled "The case for never retiring." It summarized a couple different studies, one from Harvard and one from a research institute in the UK. Here are some of the findings:
  • + Retirement increases the probability of suffering from clinical depression by about 40%.
    + Retirement decreases the likelihood of being in "very good" or "excellent" self-assessed health by about 40%.
    + Retirement increases the probability of having at least one diagnosed physical condition by about 60%.
    + Retirement increases the probability of taking a drug for such a condition by about 60%.
These finds could be misleading because it is unclear what is causing what. Maybe retirees are less likely to be in excellent health because people are more likely to retire when their health is poor? Or it could be that retirement causes people to be less healthy.

What do you think? Are you planning to retire? Are there Bogleheads who plan to never retire, given good health and the opportunity?
From my perspective, not retiring at the target age is more likely to cause the fore mentioned health calamities than retiring early. Everyone is different, and, of course, YMMV.
Few decisions in life motivated by greed ever have happy outcomes--Peter Bernstein, The 60/40 Solution
Bacchus01
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Joined: Mon Dec 24, 2012 9:35 pm

Re: Poll: Are you going to retire? And if so, when?

Post by Bacchus01 »

My fancy spreadsheet says I can retire in 5 years at age 45.

My fancy spreadsheet also tells me I will retire at age 50 with $10M. I think that'll be enough.

I hope that spreadsheet is right.
kttpn
Posts: 27
Joined: Wed Oct 30, 2013 4:47 pm

Re: Poll: Are you going to retire? And if so, when?

Post by kttpn »

I retired 6 weeks ago at the age of 65 and remain in ecstasy. One of my brothers worked until 73 and it broke his health. He did not need to work, just did not have any plan to retire--now it's too late for him. My other brother is still working at 80 and has alienated his wife and family by having no time for them (Remember Harry Chapin's "Cat's in the Cradle?"). He does not need to work either, and remains without a plan to retire. Sad.

I refused to be in their position! My husband and I built a new home in an active 55+ community. Our family visits often. We entertain. Volunteer. Take courses at a major university. Travel. Life is full and interesting. Need to take some time to enjoy the sweetness of this world and to give back if at all possible :sharebeer ....
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HomerJ
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Re: Poll: Are you going to retire? And if so, when?

Post by HomerJ »

Bacchus01 wrote:My fancy spreadsheet also tells me I will retire at age 50 with $10M. I think that'll be enough.
Heh, you may need to stick with just two yachts, instead of three... but it will probably be enough if you're willing to make some sacrifices. :)
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