Retirement advice for a wanna be

Without getting too nosey, can you retired guys who spend a lot of time fishing, give us wannabes some idea of

1. At what age did you retire and was it too soon or not soon enough

2. did you need less or more money per month to live ( and fish) than you expected you would need when you decided to retire

3. Any big tips that you think we wouldnt already know? What would you do different?


Thanks. For myself and perhaps others.



I know what the so called "experts say". Id like to hear it from people who are there and living a life like I probably will.

I've talked to a lot of people and one of the big things is medical insurance. Don't forget to look into what it's going to cost you. I know if it hadn't been for my wife still working I don't think I could have retired even with SS benefits and my profit sharing.

I retired from selling vehicles for a GM dealership for 25 years, before that, I taught school & coached for 27 years. The 2 jobs over lapped for 8 years, from '85 - '93 and I made some decent money while I was doing both jobs but it cut down on the time spent fishing. In 2010, at age 66, I retired from the dealership and started working for the DNR, 2 days a week and substitute teaching when I wanted. Both of the part time jobs had flexible hours and I could work when I wanted, and fish when I wanted. This year I quit subbing in order to be able to spend more time fishing. Being from MN., we spend Jan. & Feb. on the Gulf, and March - Oct., fly fishing trout, during those months, I will fish at least 5 times a week. I spend a week in Canada fishing walleyes as well as many trips to the Miss. to fish walleye. We are also planning our 2nd. trip to Alaska this Summer. Had I not worked so hard in my earlier years I would not been able to spend this much time fishing. One of your biggest questions is; "how is my health?", do I have time to earn a few bucks or should I back off and enjoy what is left of my life. If you run short of money there many "retirement jobs" available that maybe somewhat flexible with the hours that you work. They may not pay as well as what you make now but they will give you some "fun" money. Hope this helps.

It is a great question that a lot of us are noodling over. Thanks to all for the honest inputs.

Retirement? Whats that?

Quote:

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Originally Posted by ChileRelleno

Retirement? Whats that?

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for me...retirement = death

I've been lucky, I got interested in the fire service early on and got to retire at 55. Well, semi-retired, I will work at something as long as I can. I worked partime at an aluminum smelter up here while at the FD, still there now. I work part time for nearly full time pay averaging 24-28 hours a week, in the safety dept, doing security, fire and EMS. Will continue with it until my wife retires or I move down there which ever comes first, I can only be a firefighter so long. Love what I do and loved being at the FD, I worked about 110 days at the FD. Wanted to stay at the FD longer but the generation gap was getting a little wide, felt like it was time, but to early to quit working. Spent to much money with all my hobbies, racing motorcycles, racing mountain bikes, offroading in my JEEP, etc., so a little backwards in that respect. I played a lot early on instead of saving everything for later. Regret it?, Heck no, I had a blast and I was able to enjoy most of my hobbies with my kids and spent a lot of time with them. I've seen too many people save everything for later and not get to enjoy it. Really only advice I have is keep doing something as long as it is enjoyable. I have to keep working to enjoy the things I like to do, but I don't feel like I need more money than when I was at the FD.

Feel fortunate if you can retire. I was 40 days from 30 yr. retirement when that Big Blue company decided that someone in Mexico could do my job better. So if there are younger readers out there, don't take anything for granted, plan ahead and save/invest every penny that you can. Not for one minute believe that your employer is going to look out for you and your future.
If your company has a 401 plan, invest the max. that they match and consider a ROTH account.

I am very fortunate with a retirement.....but the health insurance ate into the savings quick and put me back to work part time to slow that down(I tried tow truck driving,fork truck in a couple warehouses one where I was spotting the semi trailers also then decided to get my cdl A's), I still like working with the company and people at the time of retirement......not doing the trade anymore but driving a semi truckk (landoll ) pick up and delivery of forks,cranes,machinery and go out to operate when costumers need it.....part time but nice double dipping on the pay but no benefits......not ready for a drastic lifestyle change yet, that put me back to work besides the health care increase.....almost 17,000.00 a year for the 2 of us....dang obamacare sent it sky high......would love to sell everything but the cabin and move south closer.....but the bride isn't up for it.....she actually went to work (I think she felt guilty I went back):)
I feel sorry for those that don't have a retirement and there is plenty

I'll retire when I die, so I don't have much to offer about financial planning, but I will advise you to take care of your health.

Medical costs are insane. Even with medicare they can go though the roof.

Get regular exercise and be moderate with alcohol. Stop smoking if you do smoke - just stop. Watch your diet. Get lots of fruits and veggies.

When you get to 60, let alone 70, your body does not shake things off as easily as when you were younger so give it a head start on fitness, it's really hard to play catch-up.