Retire at 55 and live to 80

[Packratona!]

Interesting article. "Startling new data shows how work pounds older bodies".


https://www.biznews.com/thought-leaders/2013/09/10/retire-at-55-and-live-to-80-work-till-youre-65-and-die-at-67-startling-new-data-shows-how-work-pounds-older-bodies/

[razz]

Interesting article. "Startling new data shows how work pounds older bodies".


https://www.biznews.com/thought-leaders/2013/09/10/retire-at-55-and-live-to-80-work-till-youre-65-and-die-at-67-startling-new-data-shows-how-work-pounds-older-bodies/

That may be true for many workers but some employment activities are less stressful and people keep working for years after 55. My MD finally retired at 73 and is enjoying his retirement. He loved his patients.

[Williamsmith]

Interesting article. "Startling new data shows how work pounds older bodies".


https://www.biznews.com/thought-leaders/2013/09/10/retire-at-55-and-live-to-80-work-till-youre-65-and-die-at-67-startling-new-data-shows-how-work-pounds-older-bodies/

Thanks razz....you made my day. :cool:

[Simplemind]

The only regret I had retiring at 55 was that I didn't do it sooner. Life is so much less stressful and definitely more fulfilling.

[Yppej]

Wow. And I have been planning to work until 70.

[catherine]

Wow. And I have been planning to work until 70.

I still am. But I feel fortunate in that I have a lot of autonomy over my work life. I would have to think that razz has a point--if you love your job I don't think you're going to have the kind of chronic stress they're talking about.

[Gardnr]

-if you love your job I don't think you're going to have the kind of chronic stress they're talking about.

I completely disagree. I love my work. It is extremely stressful.

[flowerseverywhere]

not New data

http://www.bbc.com/news/magazine-18952037

Bbc reports this long standing myth is fake in a 2012 article.

another article even older cites the “data” used is 25 years old and has been debunked

https://www.intmath.com/blog/mathematics/retiring-early-means-a-longer-life-an-urban-myth-822

gotta go collect my millions from a Nigerian Prince.....just got an email and he’s anxiously awaiting my response.

[dmc]

The only regret I had retiring at 55 was that I didn't do it sooner. Life is so much less stressful and definitely more fulfilling.

Same here, I retired at 50, should have done it sooner.

[razz]

Flowers, thank you for your post. I was wondering how anyone could make an accurate case when there are so many variables to take into consideration, economic status being just one of many, access to healthy environment and opportunities being another.
That said, I retired at 60 and expect to live to 99+, at least that is my plan governing my finances, dwelling and access to services.

[SteveinMN]

I completely disagree. I love my work. It is extremely stressful.
I had several stressful jobs in my career. Some of them were the jobs I liked best.

But I do believe that haviing control over one's surroundings makes the biggest difference. I burned out on my last job because a Pointy Haired Boss who didn't have any idea what I did dictated the tools I had to use. Because I had a One Minute Manager who valued my butt being in my seat between 7:30 and 4:30 each day more than she valued what I got done during those hours. Because there rarely was reprioritization of workload or staff when some critical project came in (or took longer than everyone's optimistic estimates). And it happened over and over again.

There was no intellectual reason I could not have done what I was doing for another decade or two. I would have no problem handling the whiplash project schedule or the poor management or the crappy toolset. But not all of them in concert. Tthere was no emotional reason to completely cede control of my work life to others. I was out by 53 and never looked back. I'd rather eat cat-food tuna at 79 than live through that again.

[Rogar]

I don't think there is a one size fits all. I worked in laboratories and manufacturing environments where people were exposed to a variety of chemicals and microorganisms. I've seen statistics hinting that laboratory workers may have a shorter lifespan. No regrets at all about taking early retirement, but it has more to do with personal fulfillment rather than wearing things out or other health risks. Part of that fulfillment is leading a healthier lifestyle that includes the time to cook healthy foods and get routine excersize.

I've heard stress called the silent killer, but some people seem to thrive with stress and others wither. I think the actual retirement event is disturbing to some people and those without a constructive plan or outside interests can stress out in retirement as much as some people do while working.

[catherine]

I think people who find a very strong sense of purpose in their life work may be at a disadvantage when they retire. Kind of like when you get sick on vacation. Somehow the body hangs in there when you are doing something that needs to be done, and, in my experience, when you get time off you're body says "OK, now I can relax let myself be sick."

I've known people who have died shortly after retirement--and IMHO it wasn't because their work had worn them out, but it was because they had lost a sense of purpose. Obviously not everyone gets validation and fulfillment from work, but many people do.

[ToomuchStuff]

I don't think there is a one size fits all. I worked in laboratories and manufacturing environments where people were exposed to a variety of chemicals and microorganisms. I've seen statistics hinting that laboratory workers may have a shorter lifespan. No regrets at all about taking early retirement, but it has more to do with personal fulfillment rather than wearing things out or other health risks. Part of that fulfillment is leading a healthier lifestyle that includes the time to cook healthy foods and get routine excersize.

I've heard stress called the silent killer, but some people seem to thrive with stress and others wither. I think the actual retirement event is disturbing to some people and those without a constructive plan or outside interests can stress out in retirement as much as some people do while working.


I would agree with Rogar. I have one friend who is going into semi retirement at 76 (looks like a big corporation is buying some of his property), but still does what he wants when he wants. He is a machinist/engineer and is currently building another hot rod. He has built cars and planes for years. He frequently gets asked if he golfs or does tennis, because of his physique (I think he would be considered better shape then me if a doctor tested us both).
Another person I knew, I was his last customer as he retired at 95 and died at 96 (six months later), and he worked with lead and a lot of chemicals (radiator repair).
What about those in for instance, New York? My understanding is the day to day stress level is higher, but people both adjust as well as probably having easier access to medical care throughout the city. (be interesting to see stats)
It isn't just stress. Problem solving involves stress, but if you hate problem solving then you deal with the stress differently, then if you love problem solving. Nutrition, genetics (cancer history in family, etc), access to healthcare, finances, all play parts.

[BikingLady]

The only regret I had retiring at 55 was that I didn't do it sooner. Life is so much less stressful and definitely more fulfilling.

At 6am Simplemind, I yelled your post response to my hubby as he was headed out.

[BikingLady]

We speak of this topic every single morning honestly. Hubby is struggling with retirement.

So why is it that some over 70 just keep working? One that comes to mind as he is one of our topics Wilbur Ross born in 1937 and more money than imaginable, why would he want the stress?? Is it because that is just what he does? Is there a thrill of the accomplishment? Mine question is does he take a nap at 2pm?;)

[catherine]

We speak of this topic every single morning honestly. Hubby is struggling with retirement.

So why is it that some over 70 just keep working? One that comes to mind as he is one of our topics Wilbur Ross born in 1937 and more money than imaginable, why would he want the stress?? Is it because that is just what he does? Is there a thrill of the accomplishment? Mine question is does he take a nap at 2pm?;)

I remember when I quit my job partially to be a stage mom to two of my kids who were involved in acting for a while. We were staying at an apartment complex in Marina del Rey, on the water, with two pools and all of LA at our disposal. I was euphoric.. for about 5 weeks. The last 3 weeks we were there I was bored silly. The day before our plane back east, coincidentally my old boss called and asked me to come back. I was thrilled and jumped on it.

To Steve's point, if you have freedom and fulfillment in your job, even though it's stressful, there can be many good reasons one might keep working. My MIL worked until 75, commuting into New York and taking two subways to get to Herald Square where she worked as a union administrator. They had given her that position in her late 60s and she loved it so much she didn't want to quit.

I realize a lot of simple livers think the end goal of YMOL is not only financial independence, but the freedom to quit working, which is a fine goal. But some people become financially independent because they are devoted to their work. A work life and and FI life don't have to be mutually exclusive.

[ApatheticNoMore]

thanks Flowers for some hope that those of us who may not retire early won't necessarily plop dead ASAP. It mostly seems out of my control, if I'm just burning savings being unemployed and looking, gotta keep on trucking, there is little else to do. But the future isn't exactly so bright I need to wear shades. My bf gets by financially but not much more in the second insane job in succession he has held in a row (he quit the prior insane job for a "better" offer - at this point sure quit and try another job if your job is genuinely bad but whether the next one will be better ...). At least I planned darn well enough not to have everything locked up in retirement accounts I couldn't access without penalty, so I shouldn't need to touch them.

I may very well retire at 62, in poverty possibly, but yea poverty with a check coming in every month sounds a lot more viable than working at a time when the age discrimination hurdles will be near insurmountable in all likelihood anyway, as if it wasn't already hard enough. Heck if I had a meager can't barely live off guaranteed income now I might take it, it's just too crazy out there, but no such thing exists. Or if not 62 then 65 when Medicare kicks in sounds good. My dad retired a few months after 65 (beyond full SS collection for that generation) and lived to 89, so I might not be too bad off if I do the same (of course he also took 5 years off in middle age before he had kids to travel the world so there is that).

[Williamsmith]

My opinion, our check out date is time stamped. Efforts to manipulate our ephemeral existence ...futile. Doesn’t that take the fun out of it?

[Teacher Terry]

I retired at 58 and then did some p.t. consulting. For the past 5 years I have been teaching one college class and I can't see ever quitting. I have given up the consulting work. For me this is the best of both worlds:))

[Teacher Terry]

WS: that is what my Mom believed. Me not so much.

[Packratona!]

Great post StevinMN. I hear you, been there, done that. Out at 46.

[Packratona!]

Thanks for the other side of the story Flowerseverywhere!



not New data

http://www.bbc.com/news/magazine-18952037

Bbc reports this long standing myth is fake in a 2012 article.

another article even older cites the “data” used is 25 years old and has been debunked

https://www.intmath.com/blog/mathematics/retiring-early-means-a-longer-life-an-urban-myth-822

gotta go collect my millions from a Nigerian Prince.....just got an email and he’s anxiously awaiting my response.

[dado potato]

I am with dmc on this. I needed to reach a threshold of capital and investment income before I felt the track was clear.

Looking back on the years since early retirement, I was basically accurate on most of my assumptions. A major exception was the rate of increase in the cost of private individual health insurance. I expected increases, but not at double-digit rates year after year. I had high deductible coverage from age 50 to 62... never had a claim that exceeded the deductible... so basically I "coulda" bought a new Bentley Continental Coupe GT with the money I paid for health insurance over those years. Sigh. I was probably better off being insured for catastrophic medical expenses than I would be on the open road driving a purring Bentley.

I like to think the insurance company bought the Bentley with my premiums. <wink>

http://www.youtube.com/watch?v=FoRLoYCFdOY

[dmc]

Sometimes I think of the money I could have made, but still not missing the work, and time at work. I’ve been retired now for 10 years and still have 5 years to go till 65. Been paying 15-20k a year for health insurance also, and that’s with after tax money. And that would be worth much more with the gains we’ve had in the stock market over that time frame.

And the 250k a year in income, before taxes, would still add up to a tidy sum if you also factor in the market gains.

But the last 10 years have been great and there is no promise of tommorow. My mom passed away at 55, and the owner of the company that I worked at, also a good friend died at 57. Also I’m still pretty healthy, but I know I’ll never be as good at golf as I was 25-30 ago. And my hearing and vision is definatly not as good. And I’m pretty sure the outlook as I get older is not promising. So I’m glad I’ve had the last 10 years to do pretty much what I wanted with my time.

When im in town I’ll stop in where I use to work and have lunch and visit. And I still go to the Christmas party from time to time. But I don’t miss the work, and I visit less now.

[Teacher Terry]

DMC, three of my close friends all died between 59-67 so I say enjoy while you can. They all got cancer.

[dmc]

My wife is a cancer survivor, so we are not putting things off for tommorow if we can do them today. I know several who died just before retiring or just after. It wasn’t being retired that did them in, it was they waited to long to quit. It was always just one more year. I was at the funeral of a Vice President of the company I worked for. One of the speakers said he was working on some projects a few days before he died while he was at the hospital. They thought his dedication was a good thing, I thought it was sad.

[BikingLady]

Dad is 89 retired at 53ish, he beat the system he says. Oh the legacy costs to the company.

[Tybee]

Dad is 89 retired at 53ish, he beat the system he says. Oh the legacy costs to the company.

That is exactly the situation with my dad, BikingLady! He has received a pension from the company longer than he worked at the company!

[iris lilies]

We could have retird at 55 and been fine. But—worry about money would have been there for me. I dont know how to put a price on “the worry” but I think it would have been in the ball park of stress at work, dont know. Still, I wish I had retired at 59 instead of 60 so that I could say “I retired in my 50’s.”

Bragging rights aside, I dont mind being an old early retiree.

[Simplemind]

I find it interesting that the word retire has so many different meanings. To some it seems to mean a certain age and activity level. When I announced my plans to retire at 55 there were so many who talked to me and asked me why I would do such a thing. Why would I leave money on the table instead of working three more years? It was as if I was doing something crazy like entering the desert without water. Several told me they couldn't possibly do it because they would be too bored. What ????
I don't understand that kind of thinking. I have never regretted going early, I had planned it for years. I have never been bored. Perhaps some people really need structure supplied by somebody else for their day. Not me.. I didn't retire and then find myself at home with nothing to do. All retirement meant to me is that I had a pension that covered my needs and almost all of my wants. I no longer have to work for money which frees me to work as a volunteer for programs that are important and interesting to me. I get to travel far and wide, structuring my time as it suits me. I get to spend time with people I care about and help where I can. I had good fortune but I also had long vision and planned for it financially as well as intellectually and emotionally. I'm hardly sitting at home sinking into the couch cushions watching Judge Judy.

[Teacher Terry]

DMC: I also find it sad that the VP worked right up until he died-ugh! I hope your wife has many healthy, happy years left. I had a good friend beat stage 4 ovarian cancer 8 times during 18 years. She was able to vacation etc until about 1 1/2 years before she died.

[Yppej]

Well my retirement just got further away. My new job gives me the same take home pay as the previous one due to a great benefits package, but I gross less, and my projected SS benefits have gone down from last year by $5 per month if I retire at 62, $30 per month if I retire at 70, and $20 per month if I retire at 67 my full retirement age.

Has anyone taken a second job for the purpose of upping their SS earnings? I don't think I have the energy for that with my commute but the thought has crossed my mind.

[jp1]

I find it interesting that the word retire has so many different meanings. To some it seems to mean a certain age and activity level. When I announced my plans to retire at 55 there were so many who talked to me and asked me why I would do such a thing. Why would I leave money on the table instead of working three more years? It was as if I was doing something crazy like entering the desert without water. Several told me they couldn't possibly do it because they would be too bored. What ????
I don't understand that kind of thinking. I have never regretted going early, I had planned it for years. I have never been bored. Perhaps some people really need structure supplied by somebody else for their day. Not me.. I didn't retire and then find myself at home with nothing to do. All retirement meant to me is that I had a pension that covered my needs and almost all of my wants. I no longer have to work for money which frees me to work as a volunteer for programs that are important and interesting to me. I get to travel far and wide, structuring my time as it suits me. I get to spend time with people I care about and help where I can. I had good fortune but I also had long vision and planned for it financially as well as intellectually and emotionally. I'm hardly sitting at home sinking into the couch cushions watching Judge Judy.

Your post reminded me of when my father retired 25 years ago. He was the stereotypical person with no real interests to keep him busy once he retired. Mom had been a housewife for decades and had developed a very structured routine of chores to keep things humming along smoothly. The house was always spotless and dinner served promptly at 5:30 day in and day out. The first few months after dad retired he followed her around and offered "advice" on better ways to do things. Eventually she had to sit him down and kindly explain that he needed to find something to do with his time that didn't involve telling her how to do what she'd been doing for several decades. He eventually settled on taking a long walk every morning and then catching the bus home once he was tired of walking. Not an amazing hobby (Denver isn't really that interesting...) but it served it's purpose. It got him out of mom's hair while she did her thing, and it gave him something to talk about after he returned.

[Simplemind]

jp1 my parents were similar. Mom dreaded my dad retiring because she loved having the house to herself. My husband had a stroke 6 months after I retired and wasn't able to return to work. His work friends faded away since he wasn't working and they were all motorcycle riders and he couldn't do that either. When he finally got back on his feet I suggested volunteering for Meals on Wheels. It would help him with remembering addresses, names and orders. Unfortunately, I started it with him with the intention of dropping out and letting him go it alone and ended up loving it and staying. So much for some time alone........ (totally worth it though, we have a blast doing it)