At what moment does retirement begin?

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tetractys
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Re: At what moment does retirement begin?

Post by tetractys » Sun May 24, 2020 10:31 pm

After some additional searching and research, this is the plan. June 2021 I turn 65. My pension kicks in July 1. So whatever happens during the June conflagrations at work, I’m going to be on Sunrise, Mt. Rainier, July 1 at sunrise, 5:16 AM. God willing the road will be open. :happy

Thanks for all the awesome comments above!

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Info_Hound
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Re: At what moment does retirement begin?

Post by Info_Hound » Mon May 25, 2020 11:18 am

For me it was the next day after my last time at work. Officially I was on the clock on my last work day so I don't count that as a retirement day. The first day I was no longer tethered to a work schedule is when I 'felt' retired and it felt really good!

Since I had sold my home and bought another 1,700 miles away while working my last month, my first day of retirement had me behind the wheel of my car at sunrise with a college age daughter, cat and dog hitting the road with me. I will always remember what I was doing that day as I had taken a photo of the sunrise in my car's rear view mirror as I hit the highway. Echos of Willie Nelson's 'On the Road Again' playing in my head. :D

Not a moments regret in how it played out.

MathWizard
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Re: At what moment does retirement begin?

Post by MathWizard » Mon May 25, 2020 11:58 am

oldcomputerguy wrote:
Mon May 11, 2020 5:54 am
My retirement began on January 3, 2017, at precisely 12:00 noon Eastern Standard Time. That's the moment at which I sat in the Business Manager's office and signed the piece of paper making my separation official. I had already handed my workplace keys and cell phone over to my successor and turned in my badge, so from that moment on, I was a visitor in the building in which I had spent 36-1/2 years.
How did that feel to you, when you crossed the line from being part of the team for so long, then becoming a visitor?

I'm close to retiring and over 30 years with the same employer, and have been winding how it will feel going from insider to outsider.
I'll definitely like the decrease in stress, but the social aspect of work and feeling of accomplishment are the things that I worry about the most.

Did you adapt to retirement fairly quickly?

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oldcomputerguy
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Re: At what moment does retirement begin?

Post by oldcomputerguy » Mon May 25, 2020 2:35 pm

MathWizard wrote:
Mon May 25, 2020 11:58 am
How did that feel to you, when you crossed the line from being part of the team for so long, then becoming a visitor?
Well, it wasn't as abrupt as it could have been. I agreed to be available on a consulting basis after I left there to help my successor get settled in. So for about the first year, my phone still rang and I got some texts. That has calmed down now, I haven't sent them a bill for my services in over two years.

It felt really good to hand in my notice, though. The nature of my position required that I be on call 24/7//365 with no backup. After a while, the stress took its toll. When I realized that I was bringing the job home and unloading it on my wife, I realized that something had to give. I did the math, came to the conclusion that it was time, and handed in my notice.

Due to my status as a consultant, I still have access to the internal systems and my security card still opens all the doors in the building, so every now and then I do drop in on some of the old-timers with whom I worked who have not yet retired. It's bittersweet, though, because so much has changed since I retired, and they have lived through those changes while I have not.
I'm close to retiring and over 30 years with the same employer, and have been winding how it will feel going from insider to outsider.
I'll definitely like the decrease in stress, but the social aspect of work and feeling of accomplishment are the things that I worry about the most.

Did you adapt to retirement fairly quickly?
Yes.

I have some things to keep me busy. My wife just retired from her job at a government lab last November. Between the time I retired and the time she retired, I've been a house husband, doing all the stuff around the house (cooking, cleaning, shopping, laundry, yardwork, etc) while she continued to work (and rack up more points on her government pension :mrgreen: ). During that time, I found a couple of places to do some volunteer work, and am continuing that now after she has retired. I don't miss the job at all. I do miss some of the people, but not the stress.
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)

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Re: At what moment does retirement begin?

Post by GerryL » Mon May 25, 2020 3:09 pm

MathWizard wrote:
Mon May 25, 2020 11:58 am


How did that feel to you, when you crossed the line from being part of the team for so long, then becoming a visitor?

It really hit home that I was no longer part of the Megacorp family a few days later on the weekend. I had signed up to volunteer at a big outdoor event put on by the company, and when needed to use the restrooms, I required an escort to get inside the building.

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Re: At what moment does retirement begin?

Post by Godot » Mon May 25, 2020 3:13 pm

tetractys wrote:
Sun May 24, 2020 10:31 pm
After some additional searching and research, this is the plan. June 2021 I turn 65. My pension kicks in July 1. So whatever happens during the June conflagrations at work, I’m going to be on Sunrise, Mt. Rainier, July 1 at sunrise, 5:16 AM. God willing the road will be open. :happy

Thanks for all the awesome comments above!

13 Months
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Great plan! I love Sunrise. Burroughs trail my favorite day hike on that side of park.
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

cherijoh
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Re: At what moment does retirement begin?

Post by cherijoh » Mon May 25, 2020 3:56 pm

azanon wrote:
Mon May 11, 2020 7:19 am
Wanderingwheelz wrote:
Mon May 11, 2020 7:11 am
tetractys wrote:
Sun May 10, 2020 11:05 pm
For your retirement, at what moment will it, or did it actually begin? Maybe the standard time is midnight just as the date changes, like on the New Year. But since it’s YOUR RETIREMENT you can pick the moment, correct or not? I’m thinking my retirement will begin at sunrise on the first day. I’m planning on being up and awake for that. What are your thoughts for your retirement moment?

What got me started on this was looking for a retirement countdown app. And I found a simple countdown app just for retirement; but rats!; it only lets you pick the day, not the moment by hour, minute, and second!
You might be surprised by the percentage of retirees who’s retirement wasn’t their decision at all. Covid will be one more thing that forces many to retire when it would have been their wish to wait.

Forget the hour, minute or the second. Some would be off by years.
I could be fired or laid off from a job, but I'd never confuse that with retirement. Retirement is a choice to no longer work for pay. If I wanted to work, I could find a job, and so could most anyone else. Granted, it might not be exactly the job you'd hope for or have the pay you'd hope for. I'm not sure even a major handicap could force me to have that mindset, given how many job programs there are for the disabled.

Based on your response, I suspect that you are many years from retirement - and definitely not disabled (based on your misconceptions about employment prospects for them). And you are also not thinking of times like these (or the Great Recession).

I know lots of people who were laid off during the Great Recession who were unable to get hired for any job - within their field or outside of it if they were beyond a certain age. Even if you had indicated you were willing to take a significant salary cut for a more entry level job, you weren't offered one because a) the hiring manager throught that you would jump ship as soon as the economy recovered or (b) they could hire someone with more up-to-date skills for the same (or less) money or BOTH. If the hiring manager was younger than you, they might also think you (the older worker) were after their job.

The other issue for a lot of people during the Great Recession was mobility. The housing crisis meant that a lot of people were afraid to relocate because they didn't think they could unload their house. Employers knew they could be selective and not have to offer a good relocation package to attract top talent. I know of several people who received job offers where the new company would pay for the mover and a nominal amount of cash for temporary housing. That was it. Or that they had a spouse that was working who would then be out of work if you moved the family.

With respect to getting "any old job", that was impacted by when in the recession you were laid off. If you were kept on for a while, those types of jobs - especialy those offering benefits - were snapped up by the people who were laid off earlier than you. So quite a few people who were eligible to start taking SS gave up after a while and just decided that they were retired.

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Re: At what moment does retirement begin?

Post by 1moreyr » Mon May 25, 2020 6:02 pm

I am mentally retired but i am still going to work :D

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Re: At what moment does retirement begin?

Post by phatpodo » Mon May 25, 2020 8:40 pm

I retired once already from the Air Force, and it did not feel like a retirement at all. I got caught in a SERB situation (selective Early Retirement Board), so it felt more like a layoff at first. Plus we were overseas in Korea and had to move back to the USA, find a house, get a job, etc. etc. so it was not what I pictured it would be.

My daughter will graduate college when I'm 63, so that starts my window. I'm not eligible to retire from my current employer until I'm 65 so we'll see how those last 18 months go. :D I thought about retiring on my 65th birthday, but I think I'll need to work (or take PTO) for 4 weeks after that to reach my employment anniversary (bumps my pension from them).

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Re: At what moment does retirement begin?

Post by azanon » Tue May 26, 2020 7:49 am

cherijoh wrote:
Mon May 25, 2020 3:56 pm
azanon wrote:
Mon May 11, 2020 7:19 am
Wanderingwheelz wrote:
Mon May 11, 2020 7:11 am
tetractys wrote:
Sun May 10, 2020 11:05 pm
For your retirement, at what moment will it, or did it actually begin? Maybe the standard time is midnight just as the date changes, like on the New Year. But since it’s YOUR RETIREMENT you can pick the moment, correct or not? I’m thinking my retirement will begin at sunrise on the first day. I’m planning on being up and awake for that. What are your thoughts for your retirement moment?

What got me started on this was looking for a retirement countdown app. And I found a simple countdown app just for retirement; but rats!; it only lets you pick the day, not the moment by hour, minute, and second!
You might be surprised by the percentage of retirees who’s retirement wasn’t their decision at all. Covid will be one more thing that forces many to retire when it would have been their wish to wait.

Forget the hour, minute or the second. Some would be off by years.
I could be fired or laid off from a job, but I'd never confuse that with retirement. Retirement is a choice to no longer work for pay. If I wanted to work, I could find a job, and so could most anyone else. Granted, it might not be exactly the job you'd hope for or have the pay you'd hope for. I'm not sure even a major handicap could force me to have that mindset, given how many job programs there are for the disabled.

Based on your response, I suspect that you are many years from retirement - and definitely not disabled (based on your misconceptions about employment prospects for them). And you are also not thinking of times like these (or the Great Recession).

I know lots of people who were laid off during the Great Recession who were unable to get hired for any job - within their field or outside of it if they were beyond a certain age. Even if you had indicated you were willing to take a significant salary cut for a more entry level job, you weren't offered one because a) the hiring manager throught that you would jump ship as soon as the economy recovered or (b) they could hire someone with more up-to-date skills for the same (or less) money or BOTH. If the hiring manager was younger than you, they might also think you (the older worker) were after their job.

The other issue for a lot of people during the Great Recession was mobility. The housing crisis meant that a lot of people were afraid to relocate because they didn't think they could unload their house. Employers knew they could be selective and not have to offer a good relocation package to attract top talent. I know of several people who received job offers where the new company would pay for the mover and a nominal amount of cash for temporary housing. That was it. Or that they had a spouse that was working who would then be out of work if you moved the family.

With respect to getting "any old job", that was impacted by when in the recession you were laid off. If you were kept on for a while, those types of jobs - especialy those offering benefits - were snapped up by the people who were laid off earlier than you. So quite a few people who were eligible to start taking SS gave up after a while and just decided that they were retired.
Those were several good guesses (because they were reasonable), but you didn't get the right one. I'm just considerably more optimistic than you are; That's pretty much it. We have several individuals that are disabled who work for, and with my agency, and I'm certain we're not outliers. You, like someone else, also are confusing unemployment with retired - unemployment is always temporary in the mindset of an optimist.

I think it generous of you to just take someone's word for it that they are just inherently unable to get a job without even being willing to critique how they are going about that, the level of effort put in, etc.

I'll never believe I'm out of the game, no matter what. I can decide to believe that, despite what you say. My apologies to you, because there's nothing you can say or do that will change that. And guess what - anyone else can make that same decision.

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Re: At what moment does retirement begin?

Post by chipperd » Tue May 26, 2020 10:38 am

Great question and responses!
The first taste of the reality that I was FI and could retire was when my (then) 16 yo son put together a large workbook of spreadsheets to prove to me what he had been insisting upon for over a year, that I could retire if I wanted to. Seeing the numbers made that "could I have all that freedom?" feeling pop up. I sent that workbook to a CPA/financial advisor friend, who scheduled an appointment with me and my son, reviewed everything, and concurred with the conclusion. I gave my (2 month) notice and left on a bright sunny June day last year. The grass was greener and the warmth of the sun bathed me in a mellow high that I still get from time to time. Now every day feels like summer when I was a kid.

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Re: At what moment does retirement begin?

Post by hudson » Tue May 26, 2020 11:25 am

Hockey10 wrote:
Tue May 12, 2020 9:16 am
I had a similar feeling the day I got out of the Army. But, while driving home from Ft. Bragg, I got stuck in a massive traffic jam trying to get through Washington DC, which took some of the fun out of that day.
Me too...great feeling of freedom! I left Bragg driving by Pope Air Force Base on I think Manchester Road...past the drop zones, and turned right just after Ranger Station 3 towards Vass, Carthage, and points WEST. In March of 72, there were no gates on the many exits from Fort Bragg.

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Re: At what moment does retirement begin?

Post by cherijoh » Wed May 27, 2020 12:19 pm

azanon wrote:
Tue May 26, 2020 7:49 am
cherijoh wrote:
Mon May 25, 2020 3:56 pm
azanon wrote:
Mon May 11, 2020 7:19 am
Wanderingwheelz wrote:
Mon May 11, 2020 7:11 am
You might be surprised by the percentage of retirees who’s retirement wasn’t their decision at all. Covid will be one more thing that forces many to retire when it would have been their wish to wait.

Forget the hour, minute or the second. Some would be off by years.
I could be fired or laid off from a job, but I'd never confuse that with retirement. Retirement is a choice to no longer work for pay. If I wanted to work, I could find a job, and so could most anyone else. Granted, it might not be exactly the job you'd hope for or have the pay you'd hope for. I'm not sure even a major handicap could force me to have that mindset, given how many job programs there are for the disabled.

Based on your response, I suspect that you are many years from retirement - and definitely not disabled (based on your misconceptions about employment prospects for them). And you are also not thinking of times like these (or the Great Recession).

I know lots of people who were laid off during the Great Recession who were unable to get hired for any job - within their field or outside of it if they were beyond a certain age. Even if you had indicated you were willing to take a significant salary cut for a more entry level job, you weren't offered one because a) the hiring manager throught that you would jump ship as soon as the economy recovered or (b) they could hire someone with more up-to-date skills for the same (or less) money or BOTH. If the hiring manager was younger than you, they might also think you (the older worker) were after their job.

The other issue for a lot of people during the Great Recession was mobility. The housing crisis meant that a lot of people were afraid to relocate because they didn't think they could unload their house. Employers knew they could be selective and not have to offer a good relocation package to attract top talent. I know of several people who received job offers where the new company would pay for the mover and a nominal amount of cash for temporary housing. That was it. Or that they had a spouse that was working who would then be out of work if you moved the family.

With respect to getting "any old job", that was impacted by when in the recession you were laid off. If you were kept on for a while, those types of jobs - especialy those offering benefits - were snapped up by the people who were laid off earlier than you. So quite a few people who were eligible to start taking SS gave up after a while and just decided that they were retired.
Those were several good guesses (because they were reasonable), but you didn't get the right one. I'm just considerably more optimistic than you are; That's pretty much it. We have several individuals that are disabled who work for, and with my agency, and I'm certain we're not outliers. You, like someone else, also are confusing unemployment with retired - unemployment is always temporary in the mindset of an optimist.
Good for your agency, but I don't think that is universally the case based on several people I know who developed physical handicaps but who were mentally sharp as tacks. If there is a silver lining from the stay at home orders, it may be that employers finally deep-six the idea that you must physically be in the office to be an effective employee.
azanon wrote:
Tue May 26, 2020 7:49 am
I think it generous of you to just take someone's word for it that they are just inherently unable to get a job without even being willing to critique how they are going about that, the level of effort put in, etc.

I'll never believe I'm out of the game, no matter what. I can decide to believe that, despite what you say. My apologies to you, because there's nothing you can say or do that will change that. And guess what - anyone else can make that same decision.
I took a separation package from an employer who was relocating the business unit out of state. One of the benefits I received was unlimited career counseling with a well known outplacement agency. I went back to school for a Master's degree and worked part time, so I didn't really make use of the outplacement services until I graduated and was actually looking for a full time job. This unfortunately corresponded with the onset of the Great Recession. We had weekly group meetings were we reported on progress, strategies and frustrations with our job searches. So unless these people were making stuff up each week, most of them were seriously making finding a job their full-time job. I believe that goes beyond me "taking their word for it".

I sincerely hope that your optimism is justified in your own life. But I will still recommend you follow the adage "hope for the best but plan for the worst".

rixer
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Re: At what moment does retirement begin?

Post by rixer » Wed May 27, 2020 12:24 pm

For me, retirement began the first day I quit working.

rich126
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Re: At what moment does retirement begin?

Post by rich126 » Wed May 27, 2020 12:28 pm

MisterMister wrote:
Mon May 11, 2020 9:33 am
azanon wrote:
Mon May 11, 2020 7:19 am
... If I wanted to work, I could find a job, and so could most anyone else. Granted, it might not be exactly the job you'd hope for or have the pay you'd hope for. I'm not sure even a major handicap could force me to have that mindset, given how many job programs there are for the disabled.
I am afraid you are living in the distant past, my friend (October, 2019 perhaps?).
I think most people can find a job if they really want to work. It may not be the same salary, benefits, etc. but there are jobs out there for good workers of various skills. Obviously technology is one strong area. And sure there are out of work tech workers but many of them have very poor skills and ended up in an occupation for the money but don't have the skills.

Groceries stores, delivery companies, etc. are all hiring. You may not want the job but they are out there. And in some cases certain jobs may require relocation and starting over. If you stayed in a job that basically was over paying you and didn't provide transferable skills then you'll likely have to step down quite a bit to find that next job. I'm sure quite painful.

Sadly large companies end up with a sizable number of overpaid unproductive people and if they lose their job, they will have a tough job getting what they think they deserve.

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Re: At what moment does retirement begin?

Post by RudyS » Wed May 27, 2020 9:06 pm

Normchad wrote:
Mon May 11, 2020 9:22 pm
In the past, I've been quite insistent that "being retired" means you are no longer working for money.

But, for this thread, I sort of already feel retired. I'm still working the same job I have had for 20 years. Decently high up and well compensated. But about 9 months, I "mentally quit". So I still go to work, do what I'm supposed to do, but I don't have the level of caring or desire that I would like to have. In a very really sense, I am "running out the clock".

So in. a real sense, I feel like my retirement has already begun. But I think it will really kick in to another level when either (a)I get fired for some some reason, or (b) February 2024 comes along and I quit for good.....
That's what we called the "in-plant retirement plan."

But to answer the question, on my last day I walked myself out of the plant, handed my ID to the guard at the entrance, got in my car, and drove home.

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Re: At what moment does retirement begin?

Post by Sandtrap » Wed May 27, 2020 9:09 pm

Retirement is a state of mind.
As such, I'm not retired yet.
In fact. . . . I still don't know what I will be when I grow up. . . . :D :D

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One Ping
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Re: At what moment does retirement begin?

Post by One Ping » Thu May 28, 2020 9:42 am

For me there were two points where I felt the "I've really retired" twinge.

The first was sort of a technical realization. It was the afternoon I exited the plant for the last time and realized I had no way of actually re-entering the building I had worked in for the last 25 years because I no longer had the credentials to get through the door.

The second was more psychological. It was the first morning after that when I got up, went down to the kitchen, had my morning cup of coffee and realized that everyone I had worked with was now at the office and I ... was going to sit down with my wife and have a second cup!

The first a melancholy moment. The second a "YES!!" moment!
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Re: At what moment does retirement begin?

Post by Bammerman » Thu May 28, 2020 5:53 pm

To give my answer to the OP's question, "at what moment does retirement begin":

I used to think -- mistakenly -- that I would "retire" when I stopped working for the USG and began collecting my pension. I had based my investing strategies on the idea that this is when "retirement" begins.

Now I understand that, in the context of investing, when you really retire is when you start spending down your "retirement" savings/assets.

So in fact, while I stopped working for a living about 13 years ago, I have not yet "retired" in the sense that most investing "advice" means it, because I have been fortunate enough not to need to begin spending down my "retirement" savings (for normal living requirements, that is. We did spend some for some home renovations).

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