RAMBOW

Congrats John! Enjoy it!

I've got 19 years in IT, and 24 to go.... Reminds me a I need to buy a lottery ticket today to try and fund MY early retirement plan!

Kennybill

I worked 43.5 years in a large steel mill. I hadn't even though of retirement but in June 2012 the mill shut down. Truthfully I couldn't have planned any better. I was 62 and had been saving since early 1980s with IRAs, then 401k. Everything was paid for. I live good off of SS and my pension. I watch my Grandkids a few days a week. Go to breakfast once a week with other retirees. I've taken a lot of trips. I jokingly say but it's true, everyday is like the first day of summer vacation. I really haven't played with my Oldsmobiles like I'd planned, to busy. Hopefully this winter I work more in my garage. So far my health has been great. My opinion is keep moving and give blood at the Red Cross 5 times a year. Jmo. Good luck to all you Retirees.

rocketraider

I walked away from powerplant under a severance package Sept 30, 3 weeks before turning 60. I too was concerned about money but when I crunched #s I realized I was set thru my 80s- and since family history shows I have about 10-12 good years left, it was time. Company offered 2 weeks pay for every year of service (37) plus a year's paid insurance. Pension, 401K and SS should have me set pretty good for remainder of my life.

One of my close friends there died in June aged 64- pancreatic cancer took him out within a week of being diagnosed,and he had also decided to take the package so he'd have time to piddle with his antique HD bikes and old tube amplifiers. Jack's death cinched my decision to take the package as I did not want to still be there when I die.

The day I left threw me for a loop as that's when it sunk in I wasn't coming back any more, but I have gotten past that. I miss a lot of the people bad, but I do not miss the politics, public image obsessions and little tin gods the place was rife with. One of the greatest things about being gone is that I no longer have to even be civil to some of those LTG bastards. Hopefully I'll never see them again.

Oldsmaniac

Lots of good points here and anyone who can retire early should for all the reasons already told. Everyone has their own situations. My brother retired recently at 67 because "it wasn't fun anymore". For me at 61, I am not sure but my stress level is zero at my job now and the money and benefits are good. I get 5 weeks vacation, 15 sick and 3 personal days per year. Retirement is not calling my name yet. Congrats to all who have!

1968_Post

I retired in 2012 at 63. I spent my whole working career of 45 years in fixed operations end (parts and service) of retail high-line automobile dealerships. In that period, I worked in 25 different dealerships in 8 states. Finally, after spending the last 5 years in Atlanta, I was so burned out from the 6 day a week, 11 hour days and the daily battles with the pompous clientele, the self-serving employees and the unrealistic manufacturer, I gave 1 years notice, bought my retirement home, tried to train my replacement, and when the year was up, i was gone. There's no pension in the car biz, but I was lucky enough to max out on my SS for 20 straight years. I still worked from home for the store doing all their payroll and monitoring parts and service until the store was sold in 2015. We don't live big, but I haven't regretted retiring for one minute.

anthonyP

Sounds like you work for the bureaucracy. lol

Even with a small elective Deferred Compensation plan, it is the Pension and Social Socurity that allows me to be somewhat worry free. When I speak with those whom will only have a 401K and Social Security, most cannot confidently give any targeted retirement date or feel assured about having enough funds if the market takes a turn for the worst.

Just read that DuPont, which recently merged with DOW, is to stop funding their pension plan next year for active workers not 50 years old by that time. Not a good precedent.

Human

I just turned 53 and retirement is nowhere in my foreseeable future. A couple of job losses, a bad divorce (is there any such thing as a good one?) and a protracted period of underemployment, during which I was just barely making enough to get by, that ended about four years ago have kept that part of the American dream firmly out of reach. Maybe when I'm about 70, if I'm still alive by then, I can think about it. But for now, I must keep slogging on. Fortunately, I like what I do for a living.

RROLDSX

I never waited to enjoy life anyway. Don't wait for retirement to do what you want.

Pfiffle

WelL, I was going to retire at 591/2 (Union Eleectrician) but the bottom fell out of construction around here about 2003. Was able to get an electrician job for the board of Education and, then went back to school(still going) and have my supervisor cert. I'M 49. Going to 65. Autistic children, like my son don't tend to leave home. I can start drawing on my 1st pension@59 1/2, and my annuity. Second pension@ 65. But good for all to all the early retirees here.

oldolds88

forced out for health reasons after 28 yrs at gm. wasn't ready money wise,but better off than a lot of folks. making do

76olds

That's awesome news John. Congrats on saving over the years to prepare for a good early retirement. Wishing you all the best,
Enjoy !!
Cheers
Eric

Bozang1

You guys are making me depressed!!!!

John, and the rest of you retirees, congratulations!!!!

As for me and I'm sure some others, the economy is garbage and the businesses just don't care about their employees anymore. All they care about is $$$$.
I'm sure I'll never be able to actually retire. I'll probably die before its time anyway but I guess we all can't be winners.... Lol

Maybe I'll get lucky in my next life cuz I sure as hell don't know what I did in the last one but it must've been really really terrible...

John, enjoy your retirement. You've earned it. Nobody, except the politicians, retires without earning it. Do everything you want to do and go wherever you always wanted to go. Best of luck!

wr1970

Not to hijack but what is your age? Have you gone to a financial adviser? PM me so we don't clutter this thread.

marxjunk

to be able to retire takes a plan..you dont have to be a "winner"...

what do you need....what does it take to get there..and what do you need for possessions...its all intertwined...

you want a new car every 2 years...a big house..5 hot rods..well, you will die working..

the only real consideration that has a lot of leverage..is where are you with kids...if they are still young and in school etc..well..then you may work longer than ya want..

I agree with Neely..seek a professional now..dont wait..

took me 10 years to get debt free...and its the absolute best feeling that a person can have...i have enough stuff...and i dont GAF what the Jones have...Im looking for personal satisfaction..not anyone's approval...but hey, thats just me

RROLDSX

I started planning/saving at 23 years old. If the markets had performed the way I was told I would be rich. Fortunately I at least ended up with what I accumulated and that's enough for me. I agree verbatum with Mark.

therobski

What are you early guys retiring doing for health insurance? Unless your 65 you can not be on Medicare, some of you may have a health insurance benefit from your previous employer but that is going away fast?

marxjunk

i believe in 10 years, all those benefits we worked for and paid for will be gone...

it seems to be acceptable for companies to stop funding them, and offer buy outs...

if i was offered a buy out, i'd take it..big business seems to think cutting those off becomes acceptable and a way to "streamline" the company and become profitable...

lets see what the new administration does to save those for people that earned it...

its a scary thing..thats for sure

Inline

Buahaha 42 years to retirement, not long anymore
That is- if i want full retirement which i pay from every salary.

wr1970

Let me clear this up.I am not a financial adviser.Just a concerned Oldsmobile car guy That would explain what i have done in a pm.There is no get rich quick. Because i am not rich.Not even close.

therobski

I work for a huge 9 billion $$$ company, there are no buy outs, just layoffs when they need too. In the past 5 months I sold 2 of my Oldsmobile's knowing that I cannot support 4 cars when I have the "option" to retire in 2.5 years. Why I say option? One, I like those when game changing decisions need to made-PLANNING. I never liked being backed in the corner, who does? So, when I turn 66 in 2.5 years I'm at full retirement age if I still enjoy what I'm doing I keep truckin on, if I no longer enjoy the challenge I opted out and say bye bye. That's is my BIG game changing option that I'm working towards. Most likely at that time I will be down to one car, either the 64 F-85 Pro-Touring or the 63 Corvette, I will have something to work on but not 2 cars. Everything is paid for except for our new ranch home we built 3 years ago, however I have paid off rental property paying the mortgage. Just some thoughts for you younger guys reading this thread.....

sammy

Congrats John! Enjoy. I was done at 50.....👍

Olds442redberet

There's a lot to be said about the "Quality of Life". I also left a I stress job, but I was fortunate enough to be able to just retire early. Even though I could still find employment here in the states or abroad, I didn't want to work until I died. So I took measures to reduce my monthly income requirements and now I find life much more enjoyable.
Yes, I gave up the Mercedes for a Ford but that's just fine by me. I am enjoying my life now.

therobski

Olds442redberet those are some more encouraging thoughts on the thread! amen!

LondonCutlass

Interesting thread as to what a lot of you guys in the US are doing for their retirement plan. I'm 49 and I will retire within the next 18 months. I have been planning this since I was 19 using every penny I had to invest into properties. I was actually in a position to retire 5 or 6 years ago.
I'm now looking at what I will be getting up to when I stop working as I enjoy being busy however like most of you it's nice to do what you want instead of what you have to.
My wife ,who is a few years older than me loves working and doesn't want to retire anytime soon which could be a problem. She has her own business so can come and go as she pleases.
So, the moral of this is if you have younger kids who have just started work, get them some kind of investment plan, it's never too early to start.

marxjunk

letting her work as long as she wants is a blessing..shouldnt be a problem..

classicmuscle442

Congratulation on early retirement. Read somewhere that if you retire at a younger age you find things to do/enjoy. Instead of retiring wore out and just wanting to ride the lazy-boy.

rcorrigan5

Hey John!
December 30th is right around the corner! All my best in your retirement. I didn't even think about retiring until it was essentially forced upon me. When it happened, I started looking around and found that the retirement life is pretty darn good! I've had time to restore/refinish 3 cars and do some stateside travelling and it has been a lot of fun. I'll make sure to look you up the next time we journey down I-5 to catch and In-N-Out in Medford!

Best Regards,
Randy C.

nonhog

Good for you! Happy for you.
At 52 it crosses my mind then I lie and tell myself I need to work for the structure in my day, Yah sure, not because of the huge mortgage. LOL

2blu442

Thank you guys, yes this Friday is my last day. I'm trying to wrap up a couple projects at work and hand off things to my co-workers. I do have some butterflies in my stomach, but am excited about the change.

Randy, if your passing through and have time please do stop by. The garage is always open for Classicoldsmobile members who want to stop and talk Oldsmobile

66-3X2 442

Congrats again and Good Luck.

Mike

tru-blue 442

Congrats and have fun in retirement John.

I'll have to check the schedule again, but I think I'm scheduled to work
a 1/2 day on the day of my funeral.

rand5204

John,


Congratulations on your retirement. I am very happy for and rather envious as well.


I always planned on retiring after my son graduated college. He will do so this May with a degree in Criminal Justice. We are very proud of him for what he is doing but also, given the state of our country right now, scared to death for the career he has chosen.


As for my plan to retire after his college - not gonna happen. Serious losses in the market with my retirement funds, made worse by bad decisions trying to make up the losses have pushed my plans back by about 7 more years. In the meantime, a reassessment of priorities has meant lowering the cost of living and working on paying off all debt. With luck that will take about 3 years. After that, everything but my Olds money goes into retirement funds. My family has a history of living well into their 90's so need to be really prepared. I don't mind my job, they pretty much leave me alone but I would still pull the plug tomorrow if I could. Congrats to all who can walk away early

RAMBOW

Congrats again John!

costpenn

Congrats John! I'm going to be going into semi-retirement August 1 of next year at 54. Like others here have said, I too know many guys who were waiting to start "really" living, but never got the chance.

FTolliver

Congratulations John..

oldcutlass

Well hows it feel to retire?

2blu442

As M371961 shared "every day is a Saturday" I am really feeling relaxed, the stress from work is gone and its noticeable! The weather hasn't been very good so I've not wanted to do much outdoors yet. This spring when it starts getting warm and dry again I think I'll feel another boost as I can do more of the projects I want to do. I am really glad I took the leap!

John

CRUZN 66

Now you need to get yourself one of these... My wife bought this for me to put in my office...

2blu442

I like it!

oldcutlass

That is cool.