# Retirement decisions



## Micheal (Jan 28, 2009)

Read an article on MSN this AM entitled: "The 10 hardest retirement decisions".
They list them as:
1. When to retire - a financial calulation.
2. When to claim SS.
3. Healthcoverage.
4. How much cash can you spend each year.
5. How much investment risk.
6. When to pay taxes - retirement income from 401K's and IRA's.
7. Where to live.
8. Whether your home should help finance retirement.
9. Whether to keep working - parttime.
10. What will you do.

Me? before I retired I did think about 1/2 the list, but then some of these I still think about after the fact.........


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## Ramblin Wreck (Jun 10, 2005)

On that list, some applied to me and some did not.

1. When to retire - a financial calculation. -- _For me it was after 30 years service in a defined benefit retirement plan. I saw too many friends either die or become ill before they retired...but long after they could have retired._
2. When to claim SS.-- _Still working on this one. I'm a long way from being eligible, but my brothers all say take it as early as possible. I'll see what things look like at 62 before making a decision._
3. Health coverage. -- _Covered by my retirement, a really nice thing._ 
4. How much cash can you spend each year. --_ I developed a good budget, and it's mostly worked out as planned, with enough good surprises so far to offset the bad surprises._
5. How much investment risk. - _Not applicable for me._
6. When to pay taxes - retirement income from 401K's and IRA's. --_ My pension is fully taxable now, but unless the laws change, I'll get a few breaks later on in life...assuming God puts up with me for that long. _
7. Where to live. -- _On the farm where I grew up, right next door to a sister, brother, niece, son, and soon to include another brother._
8. Whether your home should help finance retirement. -- _I would have to be in dire straits before I would consider this. My father left me something, and I want to leave something for my kids and grandchildren too._
9. Whether to keep working - part time. --_ I've done some consulting, mostly to help pay for my farming, which is all out go so far._
10. What will you do. --_ "Done did it"!_


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## Bentley (Jul 10, 2008)

1. When to retire - a financial calulation. I retired from megacorp job back in 2009. Took a consulting gig full time for a year, and then started scaling back. Been working 3 days a week for the last year. Next year I'll work 6 days a month. 

2. When to claim SS. 3 years off yet, but I'll probably start it at 62.

3. Healthcoverage. 50% subsidy from megacorp, but for wife and I, it's still $850/mo. (ouch)

4. How much cash can you spend each year. Wrong question, as I could spend a bunch, but we will do okay, just very few luxuries.

5. How much investment risk. Currently have about 50% equities, 30% bonds, and 20% cash.

6. When to pay taxes - retirement income from 401K's and IRA's. When you begin taking $ from tax deferred instruments, you have to pay tax quarterly, unless taken out by the account manager.

7. Where to live. DW and I built our retirement home in 2009, and moved in early 2010. 

8. Whether your home should help finance retirement. See Rambling Wrecks answer. It was a good one.

9. Whether to keep working - I will work the 6 days a month for a while, but I'm prepared to leave at any time

10. What will you do. We're homesteading aren't we? I'll prolly never get caught up........at least I hope not.

I had worked out each one of these concerns way before retiring. Been working on this list for 35 years.

B


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