# 10 common signs for not retiring



## Micheal (Jan 28, 2009)

Was reading an article from "Go Banking Rates" about signs you're not ready for retirement and/or need to rethink your strategy for retirement.

The 10 signs they listed:
1. you haven't outlined a financial plan to cover monthly/yearly expenses.
2. you're struggling now.
3. you still have a lot of debt.
4. you need to work but haven't lined up a P/T job as yet.
5. you haven't reassessed your portfolio.
6. you haven't decided what you'll do with your time.
7. work is important to you.
8. you haven't thought about your retirement identity.
9. you are responsible for children or elderly parents.
10 you are not on the same page with your spouse.

Now I don't agree nor disagree with their "signs" since I retired many years ago. 
Although I was well aware of my finances, debt free, knew what I wanted to do, was only responsible for me and the wife oh, and one dog, knew it was time to get out, etc.....
Guess I was lucky in my years of planning for that day I retired..... as I still don't have any regrets years later.


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## Clem (Apr 12, 2016)

I did my last "public job" at the end of 2004. The house burned up, but I had insurance, so I spent a year, more or less, and built this house myself. I was a darn good shopper for supplies, and knew a lot of people, so the total insurance payout vs the cost of replacing everything, including the house, worked out real good for me. That next summer my mama died. You would have thought she lived hand to mouth, but she had a phenomenal amount of money in the bank. So, after a while, I had a brand new house, the leftover money from the insurance, half my mama's estate, the money I'd been working for and saving up, plus I finally did something right in the stock market and made a bundle. So, I determined that I shouldn't go back to work. I'd been messing with the house for a year, and then messing with my mama's stuff, and realized there was a whole lot more to life than working and having money. So, I guess I "retired" at 54 years old. Everything paid for, and a bundle of cash.

My son got sick, nearly died. He had insurance, but not the kind that would pay your bills for you. I helped him out, because it's better to help your children while you can, instead of leaving them something when you pass. 

Then my wife got sick, and eventually died. She, too, had insurance, but not the kind that would pay your bills and incidentals. Believe me, a year of dying can really eat up some money. 

Eventually, I married again. She got sick. 

So, over the 12 years I've been "retired" I've gone through what should have lasted a lifetime. In some ways I wish I still had at least a hundred K, but it's mostly all gone. I don't regret it, I spent my life savings helping family members. I did splurge for a new pair of workboots every year or so, but I've been buying from the same seller for years, I get $200 boots for 30 bucks. 

All that to say it don't matter what you plan for, something can come up. Then the choice...Let your son lose everything, or help him out. Let your wife suffer in misery, or do everything you can to make her comfortable. 

I love my life, and get by just fine. My current wife is hoping a couple of operations will give her some mobility. I don't have the money any more to try to take better care of her. 

It don't matter what you plan, or how ready you are, when the S hits the F, you either run, or get covered with it. And I didn't run. What'll happen next, who knows. But, inside my own, private world, I'll be potting up tomato plants, pruning the fruit trees, and trying to find where the guineas are laying the eggs. All's well in my own little sphere of influence. Everything said I should retire when I did. Nothing ever said bad things are going to get you.


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## frogmammy (Dec 8, 2004)

I was just thinking the other day, when I got my renewal for auto insurance....

I pay auto insurance so if I have an accident, I can get the car/me repaired.
I pay health insurance so if I have an accident/illiness I can get repaired.
I pay life insurance so if I die, someone can be happy.
I pay house insurance so if something happens to my house it can be repaired.
I pay "line insurance" so if the sewer backs up, I can get it fixed.

Fact is, I pay more in insurance each month for things that MIGHT happen than I pay for my (non insurance) bills.

I think there's something wrong here.....

Mon


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## ladytoysdream (Dec 13, 2008)

6. you haven't decided what you'll do with your time.
7. work is important to you.
8. you haven't thought about your retirement identity.
10 you are not on the same page with your spouse.

This is my husband. 
Me, I stay real busy.


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## ET1 SS (Oct 22, 2005)

We knew when I was going to get my pension 14 years in advance. So during that 14 years, we discussed it often, we planned, and we were ready. 

I find it hard to understand how anyone would not know and prepare.


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## Micheal (Jan 28, 2009)

ET1 SS said:


> I find it hard to understand how anyone would not know and prepare.


It's easy, it is also called PROCRASTINATION!

People have to many easy (lame) excuses not to look past "living for today". Planing for tomorrow is well ahhh, tomorrow.......:facepalm:


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## pixiedoodle (Sep 24, 2014)

lots of unexpected things can & does happen in life that nobody can even imagine so, there you are in a situation completely a total surprise. certainly happened to us & nearly wiped us out right before we we retired. hard t make it back up when you suddenly lose your income & use so much of your $$ you've tried to put back for retirement. it's just life & it happens. you just do what you can to get thru it.


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## ET1 SS (Oct 22, 2005)

When I was in the last 6 months before my projected retirement date, the Navy had me attend a 1-week class. To teach me how to transition to being a civilian. Most of it was about resume writing. 

There were 25 of us in that class. One man already had a second career lined-up with some corporation. Most of them [23] were assuming that they would be hired by various corporations. I was the only person who owned a home debt-free, already had other income streams and I was ready to retire.

Even in that classroom, none of the rest had any idea of owning a home being debt-free and able to retire on their pensions.

Everyone of us knew about our retirement dates many years in advance.


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## ceresone (Oct 7, 2005)

Seems like the saying "Man plans, God laughs. We had our retirement years figured out too- 25 years of living without my over the road trucker, 401K, savings, etc. Then--he slipped and fell in a truckstop in Texas, detached retina, not just once--but 3 times. Ended trucking--but we're still OK, Right? Then, he was diagnosed with brain cancer--10 years of fighting it, drained finances--and us! Same results, savings gone, farm refinanced, and march 2012, I lost him. money wouldnt have mattered--but--the radiation caused dementia--and that was our last 4 years together. the moment of clear lucidity just before he died--when he told me he loved me before I even knew he existed! Money isnt everything. And if I dont get everything paid off before I die--it wont matter to me then, will it?


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## Fishindude (May 19, 2015)

I think the best thing you can do to prepare for retirement is to be debt free. Life is just a whole lot less stressful and worrisome if you're not concerned about bank payments.


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## Michael W. Smith (Jun 2, 2002)

(Sigh.)

For most Americans - getting paid a pension is a thing of the past. 
Unless you work for the government, the majority of companies have switched to a 401K type plan - which means you don't have a guaranteed lifelong income. 

I think the "early retirement" for most people will soon be a thing of the past. The Baby Boomers probably have the best retirement. 

Those of us born in the 1960's or later are seeing changes to our social security benefits. My "full" retirement age currently is 67 1/2. I expect with the shortfall projections for social security, my retirement age will be increased before I get there. (Of course, I'm not even so certain SS will be there, once I do get out of the work force.)

I'm trying to save - and have probably saved a lot more than most people my age. I agree that being out of debt is a big thing - but you never know what life is going to throw at you - so as has been said, even with proper planning - things can happen that was never expected.

Also, inflation and price increases can really make a dent once you are retired. As everyone knows, the COLA for SS, is NOT keeping up. 

Our State and Federal governments are running in deficits as well. I'm quite certain tax increases will be hitting us soon and will only keep increasing.


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## Fishindude (May 19, 2015)

*For most Americans - getting paid a pension is a thing of the past. 
Unless you work for the government, the majority of companies have switched to a 401K type plan - which means you don't have a guaranteed lifelong income. *

True, pensions are a thing of the past, but retiring comfortably does not have to be a pipe dream. The trick is to begin saving for retirement early in life and staying with it. These 401K plans are great tools for this, particularly if they have some type of company match. Someone starting in their early 20's can easily accumulate $1 mil in their working career with fairly conservative investing.

Prior to WW2 nobody had pensions, and people managed to retire by simply saving money in the bank and CD's.

Retiring comfortably has never been simple to accomplish, but with the job opportunities, information and tools available to young people today it's never been easier.


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## zo_ey (Jan 10, 2019)

Retiring gets more difficult when people have kids at an older age. Nowadays kids have to be supported for longer, reasons for which are many - shortage of jobs, kids getting into expensive colleges, unexpected familial burdens etc. My niece had to buy business textbooks for which my sister had to pitch in. She's a good kid, who's already stretched. My sister herself was hoping to semi-retire and take things easy, but now she can't until her kids finish college. Sometimes the retirement dream just seems to move farther away in life. Well, life happens, I guess.


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## GTX63 (Dec 13, 2016)

I know of several couples supporting adult kids; their car insurance, health insurance, phones, living expenses. It is a big drain on them financially and their quality of life suffers. In one case the wife refuses to let her adult children "struggle" yet their nest egg has dwindled due to their kids learning to expect help.


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## Meinecke (Jun 30, 2017)

Immigrated to the states with 40, got citizen and started new life...
Retirement will be no option to me, since hole system here is so waked, that i never make enough or can put aside to even think of retirement...
So i will be one of the statistically 75% relying on lottery win


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## Alice In TX/MO (May 10, 2002)

"8. you haven't thought about your retirement identity."

This made me laugh.

When I was newly married, at a get-together in a small Czech town in Texas, where everyone was related or went to school together, I was asked, "Who were you before you married?"

Uh. Myself.

I'm not planning on retiring, although I am in the process of signing up for Medicare on my next birthday. I will "officially" retire from teaching also, so that I will have the Texas Teachers' Retirement System health insurance as my secondary coverage. I haven't been in a classroom in a teaching capacity since 2004.

What is my retirement identity?

Myself.


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## Micheal (Jan 28, 2009)

Alice In TX/MO said:


> "8. you haven't thought about your retirement identity."
> 
> This made me laugh.
> 
> ...


Golly, had to see if'n I could re-read the article - no luck...
But if memory serves me what "retirement identity" means (say in your case) for x number of years you have been identified as a "teacher". Once you retire you are no longer a "teacher" you take on a new identity only because you no longer follow that "teacher" routine.
This is where the question comes in - not many people have any idea or given much thought about what they will do in retirement. Therefore "#8 you haven't thought about your retirement identity."...


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## Alice In TX/MO (May 10, 2002)

I understand. Good explanation. 

When I was a teacher, I didn’t fully “identify” as a teacher. Wife, mother, cattle rancher, landlord, gardener were all in the mix. 

Not starting a career as a teacher helped me avoid fully assimilating. 

So, after 15 years of being in the classroom, there wasn’t a difficult transition. The wrinkle in the blueprint was my mother’s stroke in September after I resigned.


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## lmrose (Sep 24, 2009)

Clem said:


> I did my last "public job" at the end of 2004. The house burned up, but I had insurance, so I spent a year, more or less, and built this house myself. I was a darn good shopper for supplies, and knew a lot of people, so the total insurance payout vs the cost of replacing everything, including the house, worked out real good for me. That next summer my mama died. You would have thought she lived hand to mouth, but she had a phenomenal amount of money in the bank. So, after a while, I had a brand new house, the leftover money from the insurance, half my mama's estate, the money I'd been working for and saving up, plus I finally did something right in the stock market and made a bundle. So, I determined that I shouldn't go back to work. I'd been messing with the house for a year, and then messing with my mama's stuff, and realized there was a whole lot more to life than working and having money. So, I guess I "retired" at 54 years old. Everything paid for, and a bundle of cash.
> 
> My son got sick, nearly died. He had insurance, but not the kind that would pay your bills for you. I helped him out, because it's better to help your children while you can, instead of leaving them something when you pass.
> 
> ...



I admire your attitude towards life! No where are we promised bad things won't happen to us in this life even when we try to plan and do things right. We are human physical beings and health can go wrong, economy fail, governments fail so we have to be flexible and able to adjust. If I have my health and food and shelter I am content. But if those things aren't available I believe God will still provide until I am ready for the next life. Money and riches are just tools to use for those who have them but are not the most important things in life.


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## HDRider (Jul 21, 2011)

lmrose said:


> I admire your attitude towards life! No where are we promised bad things won't happen to us in this life even when we try to plan and do things right. We are human physical beings and health can go wrong, economy fail, governments fail so we have to be flexible and able to adjust. If I have my health and food and shelter I am content. But if those things aren't available I believe God will still provide until I am ready for the next life. Money and riches are just tools to use for those who have them but are not the most important things in life.


Lovely


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