What was the main reason you retired?

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TheTimeLord
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What was the main reason you retired?

Post by TheTimeLord »

What was the main reason you retired? Here are some examples of reasons I assume one would retire:
1) Hit your number
2) The amount of your contributions no longer made a meaningful difference in the size of your portfolio
3) Lost the motivation to pursue money
4) Had enough of your work environment
5) Wanted to pursue a hobby
6) Forced into retirement
7) Needed a lifestyle change, ready to do something else
8) Job no longer fun or interesting
9) Felt there were things you wanted to do before you got too old
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retire14
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Re: What was the main reason you retired?

Post by retire14 »

#1 and #4
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Taylor Larimore
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Re: What was the main reason you retired?

Post by Taylor Larimore »

What was the main reason you retired.
TheTimeLord:

Because Jack Bogle made it possible!

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Nyc10036
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Re: What was the main reason you retired?

Post by Nyc10036 »

I cannot say I am truly retired. On the other hand, I have not been an employee with benefits since Sept 2013 and I doubt I will ever be again.

I stepped away because of #4.
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Rob54keep
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Re: What was the main reason you retired?

Post by Rob54keep »

My mains reasons were: #2, #9, spend more time with my wife and grand-baby, travel while I am still able, enough commuting for me. I am doing online teaching still which is more of a hobby than a job.
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Re: What was the main reason you retired?

Post by Tycoon »

I'm not retired yet, but I will shortly. Reasons 1, 4, 5, 7, 8, 9, and more.
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Re: What was the main reason you retired?

Post by FreeAtLast »

#8 and #4 and what Taylor said.
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Re: What was the main reason you retired?

Post by Snapper »

1 and 9 primarily. For everything there is a season. Earning is a means to an end. Do not make it the end.
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Re: What was the main reason you retired?

Post by Lancelot »

#3 Experienced some significant life changes and decided to travel. Only one more continent to go :D
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Re: What was the main reason you retired?

Post by blueblock »

1, 7 and 8: I hit my number, I was ready for a life of leisure and I was a bit burned out at work.
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Re: What was the main reason you retired?

Post by minesweep »

10) Early retirement package

The main reason I retired at age 56 (in 2001) was due to an early retirement package that I was offered. Otherwise I would have probably worked until age 62.
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Re: What was the main reason you retired?

Post by ThePrune »

For me, 1, 4, 5 and 8.

My "hobby" was 50% volunteering at my church and 50% exploring finance and retirement planning in more detail.
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Re: What was the main reason you retired?

Post by Sandtrap »

4, 8, 9, + tired of dealing with gov't red tape, + tired of dealing with 100's of tenants, + health reasons + dog tired. . . :shock:
Someone said to me, "get a life". . . . so I am. . . :D
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Flobes
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Re: What was the main reason you retired?

Post by Flobes »

6) Forced into retirement
It was 2008, and job evaporated ...

10. And I got surprise inheritance.
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Re: What was the main reason you retired?

Post by FrugalInvestor »

3,4,7,8,9. Plus both father an grandfather died in their late 50's and I wanted some time to enjoy retirement - which they didn't have. I was close enough to my number that I felt we could make it work and my wife agreed. We have, and it's turned out well. We could have had more money but money isn't everything. We've had a great 14 years so far and are looking forward to many more.
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Re: What was the main reason you retired?

Post by Teague »

1, 4, 4, and 4.
Did I mention 4?
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Re: What was the main reason you retired?

Post by nomas »

In order of importance, #4, #1, and #9. Number 4 was by far the main reason I retired. If I enjoyed my job I would have continued to work despite having more than enough in investments to retire.
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Re: What was the main reason you retired?

Post by GerryL »

None of the above, really. Or maybe all of the above. I planned it for so long that there was no real reason.

I'd never actually thought about retiring until one day many years ago when the Fidelity NetBenefits website for my 401k included the information (unsolicited) that I would be eligible for early retirement (based on age and time at company) in September 2008. I started seriously thinking about retiring from Megacorp and taking a less stressful subsistance job until official retirement at age 66. Didn't do it, but seeing that idea in writing made me start thinking about stopping work one day. Thinking about how I would spend my time.

When I was on my 2nd sabbatical (2007) I decided that I would work 7 more years, take my 3rd sabbatical, during which I would practice being retired, and then return to work for a year. That was the plan, and by 2014 I had shared it with my work group. Then, just a month or so before I was supposed to leave on my 3rd sabbatical, I had a chance to get a separation package that, along with the 2 month sabbatical, would pay me for almost the full year I had been planning to continue working. Someone on this site pointed out that if I expected to live 20 years in retirement, that one year would be 5% of the rest of my life. :shock:

So I retired ... because I was ready and because I could.
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Re: What was the main reason you retired?

Post by sport »

I would ask the question in reverse: Why do you continue to work? If there is no good answer to this, you should retire.
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Re: What was the main reason you retired?

Post by DrGoogle2017 »

For me and my husband is the long commute, getting up early to take the commuting van and lack of sleep, not enough interest in work. The minute my husband’s eligible for retiree’s health insurance, we pulled the plug.
Last edited by DrGoogle2017 on Sat Oct 28, 2017 7:28 pm, edited 2 times in total.
Dandy
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Re: What was the main reason you retired?

Post by Dandy »

6. 2008 resulted in an offer I couldn't refuse. Nice severance. No jobs available. I had already hit my number but was trying to pad it. All and all a good thing. Very lucky.
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Re: What was the main reason you retired?

Post by CZjc1330 »

My wife insisted. That was 11 years ago when I was 71. Hate retirement. Rather work any day of the week. I was never bored, stressed at times but not bored. Now I am bored and that brings on stress.
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Re: What was the main reason you retired?

Post by theplayer11 »

should add health to that list
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Re: What was the main reason you retired?

Post by baconavocado »

#4, got assigned to an incompetent boss and could not transfer away from the situation because of my age. After I retired I discovered that my salary had not been contributing much to my net worth for at least the past five years (#2).
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Re: What was the main reason you retired?

Post by truenorth418 »

Sick of people I didn't like telling me to do things I was no longer interested in.

And early retirement was always something that appealed to me and had been simmering in my mind for years.
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Re: What was the main reason you retired?

Post by bhsince87 »

10: I watched TheTimeLord dilly dally and say "one more year" 4 or 5 times, and I decided I didn't want to be that guy! :twisted:

Actually, I'm still working.

But 1,2,3,4,5,7,8,9, are really weighing on me. If I can get a package at the end of this year, I'm done.
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Re: What was the main reason you retired?

Post by Mlm »

6) Forced into retirement

My job was eliminated due to a sale. It ended up being a blessing in disguise.
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Re: What was the main reason you retired?

Post by staythecourse »

Not to hijack the thread, but those who answered that they disliked the job makes it a bit sad. Great you have enough to do what you want AFTER spending 30+ years doing something you disliked. Seems that one wasted a LARGE portion of their youth just to make money that they may or may not take advantage of later in life (health permitting).

I like what I do and work for myself. I had a great plan to retire by 45 with more money then I would ever need that will easily be met. At this point, I will likely work forever since I like my work, my job, and my boss (myself). I can't see myself quitting just because I checked off the "hit my number" checkbox.

Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.

Good luck.
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Re: What was the main reason you retired?

Post by sport »

staythecourse wrote: Sat Oct 28, 2017 7:53 pm Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.
Sometimes people have a job/career that they like, but there is something about that job that is no longer enjoyable. Perhaps it's the boss. However, when this happens after the age of 50 or 55, it can be very difficult to find another suitable job. Age discrimination is alive and well. Sometimes if you decide to change jobs, the only ones available are entry level jobs. This will not work for someone with family responsibilities such as paying for college educations, mortgage payments, etc. So, even if the job becomes a difficult experience, the best course of action is to put up with it until you can retire.
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Re: What was the main reason you retired?

Post by Yooper »

Was eligible for the pension, which essentially meant I was taking a 50% paycut. I.e., if I don't show up for work at all (retire) I get 50% of my current salary. If I do show up and put in the 8 hours, I get 100% of salary. Oh sure, there are other things (TSP matching, additional savings, etc.) that continuing to work would effect, but being able to live my life, on my terms, doing what I want without a care in the world - - is priceless. 50% wasn't even in the ballpark. Did I love my job? Not particularly. But would I do it the same (my employment) if I had the chance to have a "do over"? In a heartbeat. It was a means to an end, and worth every year of "doing for others" so my remaining years are "doing for me and my family". Which of course isn't saying my way is right and other's way is wrong, it's all based on how you're wired, how you view life, and what brings you happiness.
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Re: What was the main reason you retired?

Post by Bacchus01 »

staythecourse wrote: Sat Oct 28, 2017 7:53 pm Not to hijack the thread, but those who answered that they disliked the job makes it a bit sad. Great you have enough to do what you want AFTER spending 30+ years doing something you disliked. Seems that one wasted a LARGE portion of their youth just to make money that they may or may not take advantage of later in life (health permitting).

I like what I do and work for myself. I had a great plan to retire by 45 with more money then I would ever need that will easily be met. At this point, I will likely work forever since I like my work, my job, and my boss (myself). I can't see myself quitting just because I checked off the "hit my number" checkbox.

Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.

Good luck.

If only you’d told me that 25 years ago
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Re: What was the main reason you retired?

Post by MichaelRpdx »

Reordered to fit my prioritization:
9) Felt there were things you wanted to do before you got too old
3) Lost the motivation to pursue money
4) Had enough of your work environment
8) Job no longer interesting
Due to long-term side effects of cancer treatment 40 years ago I don't project having the extended lifespan I'd otherwise enjoy. The benefits of devoting more time to personal project and time with my wife outweigh the benefits of working.
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Re: What was the main reason you retired?

Post by DrGoogle2017 »

staythecourse wrote: Sat Oct 28, 2017 7:53 pm Not to hijack the thread, but those who answered that they disliked the job makes it a bit sad. Great you have enough to do what you want AFTER spending 30+ years doing something you disliked. Seems that one wasted a LARGE portion of their youth just to make money that they may or may not take advantage of later in life (health permitting).

I like what I do and work for myself. I had a great plan to retire by 45 with more money then I would ever need that will easily be met. At this point, I will likely work forever since I like my work, my job, and my boss (myself). I can't see myself quitting just because I checked off the "hit my number" checkbox.

Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.

Good luck.
What makes you think people have the same job or same boss with the same company for 35 years?
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Re: What was the main reason you retired?

Post by sambb »

amazing how many people dont like their job, i like mine. was in a situation i didnt like - changed it
good poll to see why people retire though
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Re: What was the main reason you retired?

Post by GerryL »

sambb wrote: Sat Oct 28, 2017 8:54 pm amazing how many people dont like their job, i like mine. was in a situation i didnt like - changed it
good poll to see why people retire though
When I took the early separation package, I still enjoyed my job and was looking forward to the final year. But around that time management changes would have made that final year hell.
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Re: What was the main reason you retired?

Post by oldcomputerguy »

Hit (8) a couple of years before punching out. Finally did it due to (4).
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Re: What was the main reason you retired?

Post by Sandtrap »

CZjc1330 wrote: Sat Oct 28, 2017 7:29 pm My wife insisted. That was 11 years ago when I was 71. Hate retirement. Rather work any day of the week. I was never bored, stressed at times but not bored. Now I am bored and that brings on stress.
Loved R/E development. Thought they'd hold my retirement party and funeral on the same day. Now, I'm testing the retirement waters. Investment finance I can do on a laptop sitting in bed. Is that still not retired?
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Re: What was the main reason you retired?

Post by Sandtrap »

sambb wrote: Sat Oct 28, 2017 8:54 pm amazing how many people dont like their job, i like mine. was in a situation i didnt like - changed it
good poll to see why people retire though
Do people that are employees have a greater tendency to not like their "job" than self-employed folks? Maybe another thread.
Yes. Interesting poll to share.
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ccieemeritus
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Re: What was the main reason you retired?

Post by ccieemeritus »

I recently retired.

1) Hit your number
7) Needed a lifestyle change, ready to do something else (exercise, lose weight)
8) Job no longer fun (job was fun for most of career)
+11) needed to help take care of Mom, who has a serious medical issue

I was fortunate to become able to retire just as Mom’s medical issue became serious.
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Re: What was the main reason you retired?

Post by staythecourse »

sport wrote: Sat Oct 28, 2017 8:37 pm
staythecourse wrote: Sat Oct 28, 2017 7:53 pm Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.
Sometimes people have a job/career that they like, but there is something about that job that is no longer enjoyable. Perhaps it's the boss. However, when this happens after the age of 50 or 55, it can be very difficult to find another suitable job. Age discrimination is alive and well. Sometimes if you decide to change jobs, the only ones available are entry level jobs. This will not work for someone with family responsibilities such as paying for college educations, mortgage payments, etc. So, even if the job becomes a difficult experience, the best course of action is to put up with it until you can retire.
I totally agree with this. I am implying those who don't like their jobs from the beginning and did nothing to change it. Of course, in the situation above it is what it is. I agree with the job discrimination in regards to age. Heck, even mentioned it on a prior post earlier tonight on a different thread.

Good luck.
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Re: What was the main reason you retired?

Post by Sandtrap »

staythecourse wrote: Sat Oct 28, 2017 9:31 pm
sport wrote: Sat Oct 28, 2017 8:37 pm
staythecourse wrote: Sat Oct 28, 2017 7:53 pm Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.
Sometimes people have a job/career that they like, but there is something about that job that is no longer enjoyable. Perhaps it's the boss. However, when this happens after the age of 50 or 55, it can be very difficult to find another suitable job. Age discrimination is alive and well. Sometimes if you decide to change jobs, the only ones available are entry level jobs. This will not work for someone with family responsibilities such as paying for college educations, mortgage payments, etc. So, even if the job becomes a difficult experience, the best course of action is to put up with it until you can retire.
I totally agree with this. I am implying those who don't like their jobs from the beginning and did nothing to change it. Of course, in the situation above it is what it is. I agree with the job discrimination in regards to age. Heck, even mentioned it on a prior post earlier tonight on a different thread.

Good luck.
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Re: What was the main reason you retired?

Post by 2015 »

1, 3, 4, 7, 8. What proved most beneficial, as it has many times previously, was identifying how my values had changed: from achievement and success to certainty and freedom, from money to security and freedom, and from belonging to fulfillment.
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Re: What was the main reason you retired?

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Company Closed.
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Re: What was the main reason you retired?

Post by Watty »

TheTimeLord wrote: Sat Oct 28, 2017 6:08 pm What was the main reason you retired? Here are some examples of reasons I assume one would retire:
1) Hit your number
...
9) Felt there were things you wanted to do before you got too old
and

10) Went to too many funerals of people that were about my age.
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Re: What was the main reason you retired?

Post by TheTimeLord »

Sandtrap wrote: Sat Oct 28, 2017 9:20 pm
sambb wrote: Sat Oct 28, 2017 8:54 pm amazing how many people dont like their job, i like mine. was in a situation i didnt like - changed it
good poll to see why people retire though
Do people that are employees have a greater tendency to not like their "job" than self-employed folks? Maybe another thread.
Yes. Interesting poll to share.
I think you will find a correlation between the amount of control people perceive themselves to have at their work and their job satisfaction.
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Re: What was the main reason you retired?

Post by Gnirk »

Husband sold the business.
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Re: What was the main reason you retired?

Post by The Wizard »

My reason was that work was getting in the way of what I wanted to do, travel.
And the recreational travel I was doing was impacting my work too much.
So I cut loose for the better...
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Re: What was the main reason you retired?

Post by Lynette »

1, 4, 5, 7, 8, 9

#4 No longer enjoyed job. Not entirely sad as my job changed and I had so much work that I had to work overtime and I could no longer take more than one week's vacation at a time. So the other factors came into play.
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Re: What was the main reason you retired?

Post by Will do good »

1) Hit your number
9) Felt there were things you wanted to do before you got too old

I hit my number fews years back without knowing it at the time.
I realized I can always make more money by working longer/more, but I can't get the time back to enjoy life.
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Re: What was the main reason you retired?

Post by HomerJ »

staythecourse wrote: Sat Oct 28, 2017 7:53 pmSeems that one wasted a LARGE portion of their youth just to make money that they may or may not take advantage of later in life (health permitting).
LOL. You need some perspective my friend. AT LEAST 99% of all humans who have ever lived had to work hard, in their youth (and many when old as well) on tasks that weren't FUN.

That's why they call it work.
Seems folks should try to find a career or job they will like instead of just view as a paycheck for 30 years of their young life. If you don't like what you do do something about that instead of just trying to make it for 30+ years.
This is decent advice, but it's not always as easy as you make it sound. Do you have any idea how lucky you are to love your job AND get paid very well? My sister is an artist. She's doing what she loves, but she's broke. What sage advice do you have for her?
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