# Age for retirement?



## Micheal (Jan 28, 2009)

According to "Smart Asset" the average retirement age for U.S. workers is 63 years.
According to the Employee Benefits Research Institute only 8% of employees plan on retiring before age 60. More than that plan on "dying on the job" or not retiring at all.

So, at what age did or do you plan on retiring?

Me, I pulled the plug at 64 1/2, money, healthcare, and everything seemed to come together at that time....:rock:


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## ladytoysdream (Dec 13, 2008)

Me 61, because I was laid off from my last job, and did not want to try again. So at 62, I started drawing SS. I stay busy with my animals. 
Husband 62, because he had 2 health scares. Now he sits home during the winter and is bored. Good weather, he has a part time job.


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## jwal10 (Jun 5, 2010)

37 the first time from full time farming, 2 year recoup, 55 the second time from the city water works on PERS. Health reasons both times. Traveled some, then worked 1/2 time part of 2 years helping at a small city for a friend who had cancer and set up this off grid property for full time living during breaks. Friend is cancer free and went back to full time work. So full retirement at 57. Will be 61 in March. Living the good life, simple, no stress, very affordable. Nothing I gotta' do, lots to do if/when I want. Some days just making a meal, others building rentals for the kids. Bad day, may never get out of my lounge pants, feet up, watch the birds at the feeder. Every day is Sunday if I want....James


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## Clem (Apr 12, 2016)

54.
..There's a lot more work in being a dirt farmer than you'd think. I'm much healthier at 66 than I was at 53, because of the fact that I have a days work to do every day. However, if I feel like it, I can stoke back a fire, drink whiskey, and read. The work will still be there tomorrow. As long as the animals get fed, and the little dog gets to hang around with me, the world is a good place.


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## ConservatvHippy (Nov 6, 2013)

I am planning on retiring April 1st of this year at 58 1/2. I have worked in the IT field since college. My company was just sold and the new company idea of outsourcing scares the crud out of me. I just don't have the energy for a change like this anymore.

I have no plans outside of letting God guide me. I am thinking a part time job is in my future but time will tell.


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## Fishindude (May 19, 2015)

Just turned 57, just quit the full time rat race. Doing a little bit of part time work, but probably not for long.

Have really enjoyed working outdoors on my own projects, every day that is suitable vs spending all day in the office.


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## dsmythe (Apr 21, 2013)

65 for me, I had back surgery in October and retired at the end of the year. I really needed to be home with my wife, an amputee. It was a God Thing. The surgery went well. Now "Every day's Saturday, except Sunday". I wake up in the morning and get my wife and I fed, and situated for the day and I go outside and "piddle". I Love It!


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## oldasrocks (Oct 27, 2006)

I retired at 51 and glad I did, 16 years ago


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## ET1 SS (Oct 22, 2005)

I retired at 42.

The Navy forced me onto pension at that age. We knew it was coming 15 years before that date, so we had focused our investments. So when the day came we were ready to make the break.


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## pixiedoodle (Sep 24, 2014)

68... Took bad fall 10 days before retirement....4.5 yrs later i have no regrets other than i shoud have saved more $$ when i had the income. 3 mths after i retired my dh tripped over the cat, fell out the patio door , down 4 steps & severely broke his leg. He was several yrs away from planned retirement. Well that was just a freak accident but he was unable to work, couldn't get unemployment because he could not work, to young for ss. We struggled for over a yr to keep up the mthly. Expences, etc. If it were not for our frzr ful of food & a garden & hundreds of canned products we'd been in real trouble. We got thru it alho it drug out to several yrs with extensive surgeries etc. We live a pretty simple basic life, no smoke/drink etc. We got thru it & nearly 2 yrs later & 2 re surgeries, dh was able to get ss etc. Wasn't easy, but you do what you have to with what you have & make it stretch as far as possible. And btw we are still making a house payment! I had a dear dfriend who had access to left over foods in the kitchen she worked at once a day. She would take her share of what was to be tossed, put it in the frzr . & then once a wk. Deliver us a box of meat based items from school cafeteria. It was a life saver! 
Never easy as you think it will be, so be prepared all the way around to make do with what you have on hand & do the best you can. We had plans, but they went south so to say but we managed. Be prepared to adjust your life as it comes.


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## Scott SW Ohio (Sep 20, 2003)

I am almost 58 and I might retire at age sixty, 25 months from now. Sixty has been my stated target for a while, but I like my job so am flexible about my departure date. We have saved quite a lot but it wouldn't hurt us to save more. If I reach sixty and still am enjoying my work I might stay on for a year or two, keep adding to our retirement accounts and then make another assessment.


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## Nevada (Sep 9, 2004)

Micheal said:


> According to "Smart Asset" the average retirement age for U.S. workers is 63 years.


I used to study a lot about optimum retirement age. Looking at it from a financial standpoint only, the longer you work the better you'll be prepared for retirement. But money isn't the only consideration.

I knew guys who worked well into their 70s. Some still consulted in their 80s. I suppose they liked what they did, and there's nothing wrong with that. But when they finally retired there was nothing left physically. There was no way they were going to take a trip to Europe or Alaska, or even take a cruise. They were simply too old and debilitated to go anywhere. That's not the best retirement, at least not to my way of thinking.

So you have to ask yourself if you would be happy working during your retirement. If so then I have no objection. But if you would rather do something else then you need to retire while you are still able to do the things you like. You might not be able to afford to go to Europe as often as some of your friends, but you'll find other activities to amuse yourself with.

In the other hand, if you aren't looking at enough retirement income to live comfortably then you have no choice. You'll need to either keep working or find an alternative income stream after retirement.

***Edited to Add***
Retired at 62.


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## dademoss (May 2, 2015)

Retired at 55, company buyout, and have never looked back.


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## Hiro (Feb 14, 2016)

42. May have to go back to work at 60 when all the kids are off the payroll......or if I keep farming. One of those is optional.


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## alida (Feb 8, 2015)

I'm hoping to retire in four years,when I turn 60. What I've started doing this year is trying to live on the defined company pension I would get in four years, to see if it's doable. If it's not I'll work until 62 or so, and keep putting money into savings. My mortgage was finished a couple years ago and I don't have any debt. I would not retire if I still had a mortgage. 

Of course anything could happen to change those plans but for now that's my goal.


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## tnroadkill (Jul 29, 2009)

still working 67 hope to retire soon


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## whiterock (Mar 26, 2003)

55, just shy of 56th birthday. Had health issues and work issuesand personal issues. Walked out last day of work on Friday, filed for divorce on Wednesday. Love being retired. If I hadn't gotten divorce I would most likely be dead by now and for sure in subsidized living situation.


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

For all of you who retired before being 65 - when Medicare starts - what did you do for Health Insurance?

Unless you work for a company or government that continues to pay your health insurance until you are 65 (or even past that) - for the "regular" person that means having to self pay health insurance.

I haven't looked into it - I'm only 49, but from what I've heard it's expensive.


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## Nevada (Sep 9, 2004)

Michael W. Smith said:


> For all of you who retired before being 65 - when Medicare starts - what did you do for Health Insurance?


Obamacare. At 64 years old I was paying $53/month for a pretty generous HMO.


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## whiterock (Mar 26, 2003)

Transferred my work insurance into retirement ins. Then went on Medicare and the insurance became my backup ins. I got a good deal there for sure. Some of my meds would cost more than my income for just one prescription. NO KIDDING. One of them would cost $28,000 per 90 day refill.


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## ET1 SS (Oct 22, 2005)

Micheal said:


> ... at what age did or do you plan on retiring?


I retired at 42.

That was when I reached my High-Year-Tenure date with the US Navy. They booted me out and onto pension for being too old. I had enough in my portfolio at that time to buy our farm homestead, so I did.


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## Hiro (Feb 14, 2016)

Michael W. Smith said:


> For all of you who retired before being 65 - when Medicare starts - what did you do for Health Insurance?
> 
> Unless you work for a company or government that continues to pay your health insurance until you are 65 (or even past that) - for the "regular" person that means having to self pay health insurance.
> 
> I haven't looked into it - I'm only 49, but from what I've heard it's expensive.


We had major medical insurance that had inexpensive premiums and a broad network, but high deductibles. Then Obamacare came along, now I am paying three times as much for coverage that is worse than the major medical insurance........Hopefully, that will change back to some semblance of sanity. If not, we will switch to either nothing or a Medishare plan.

Fortunately, we are all healthy and no one in my family has any regular prescription medication. My best advice is, if you or a family member is sick to keep working :-(


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## mzgarden (Mar 16, 2012)

Retired Dec 2016 at 58 after 36+ years with the last employer. DH retired 2012 at 52 after an accident made his current job difficult. Health Ins is the only retiree benefit but it's a good one - 75% subsidy until Medicare then it becomes the Part B.


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## mnn2501 (Apr 2, 2008)

Nevada said:


> Obamacare. At 64 years old I was paying $53/month for a pretty generous HMO.


The taxpayers were paying most of your actual premium.


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## danielsumner (Jul 18, 2009)

Retired when I just turned 56 in 2013. Great pension, good investments. Heath insurance cost us quite a bit. Just did the taxes. Paid a tad under $14,000 last year to keep employer coverage.


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## Jlynnp (Sep 9, 2014)

I retired at 50 when the company I worked for was sold. DH retired at 62 - personally I wished he had retired about 5 years earlier but he liked his job. Finally his employer tried to force him into working on Christmas and that did it. He filled his retirement papers out and was done. Fortunately he had a great job and the health insurance continued after retirement at a very reasonable cost to us.


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## TheMartianChick (May 26, 2009)

Hubby retired at 56, a few weeks shy of his 57th birthday. We use Obamacare for insurance. We have a few different income streams, including rental property and no mortgages.


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## ovendoctor (Jun 28, 2006)

early retirement in 2011 due to work injury

Doc.


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## Evons hubby (Oct 3, 2005)

Michael W. Smith said:


> For all of you who retired before being 65 - when Medicare starts - what did you do for Health Insurance?
> 
> Unless you work for a company or government that continues to pay your health insurance until you are 65 (or even past that) - for the "regular" person that means having to self pay health insurance.
> 
> I haven't looked into it - I'm only 49, but from what I've heard it's expensive.


I bought my own health insurance for decades prior to ocare, the premiums weren't too bad. A bit over 300 a month for me, then when ocare passed my rate went to 650! Had to get on my wife's policy, still expensive but doable until I was put on Medicare.


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## Bellyman (Jul 6, 2013)

Don't plan to retire. My wife did at 62 but is still working part time mostly because she wants to. Neither of us really want to sit down in front of a tv set and fade off into oblivion. Neither of us really wants to travel. So we'll probably "putter" around with things we always wanted to do. Some of those things will probably make some money but probably not like having a fulltime job would. 

My dad is 93 in a week and half. He officially retired at 65. But he's always busy with something. I think that's why he's still here. He doesn't go as fast as he used to but he still goes. Something to be said for that... he always has a reason to get up in the morning. It's been a lot of different ones, garden, cutting/splitting/stacking wood, had a paper route for 17 of those retirement years, mowing, keeping after the house, but always a reason. I think if he'd just sat down in his chair after retiring, he wouldn't have lasted more than a few years.


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## Scott SW Ohio (Sep 20, 2003)

Michael W. Smith said:


> For all of you who retired before being 65 - when Medicare starts - what did you do for Health Insurance?
> 
> Unless you work for a company or government that continues to pay your health insurance until you are 65 (or even past that) - for the "regular" person that means having to self pay health insurance.
> 
> I haven't looked into it - I'm only 49, but from what I've heard it's expensive.


My company offers continuation of health insurance coverage for those who retire between 55 and 65 with at least 15 years of service. It requires the retiree to pay part of the premium but it still is pretty affordable.


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