Let's talk retirement

[Nacho Z]

I believe this is my first non-model related topic, but yet it is still model hobby related.  I work a relatively chaotic and stressful job and have done so since I was 19 years old.  I will turn 60 in December.  My wife and I do not live extravagantly and therefore have been able to build up a nice little retirement nest egg.  I am seriously considering an early retirement, probably in the Spring or Summer of next year, 2025.  My wife is only 2 months younger than me and she could retire with me.  She is not so sure that she wants to.

I would love to get feedback on several things.  Do you guys get bored?  One would think that it will be great to do what you want, when you want, but at some point I would think boredom might set in.  How about bench time?  Again, I dream of being able to build models "all day long", but I would think that even that fantasy would lose its luster after a while.  I was reading an older thread here and guys were saying that their build time or build completions didn't really increase like they thought it would.  Do you miss your coworkers?  Many of my friends are also my coworkers.  How do you cope with declining abilities, whether they be physical or mental.  I read in that same thread that eyes aren't so good and hands start to shake.

I am really interested in seeing what you all have to say.  Any advice is appreciated.  I would love to hear about your experiences.  Feel free to discuss the hobby aspect as well as the non-hobby aspect of retirement.  Thanks!

[MeatMan]

Congrats on your decision.

I retired at 62 in 2018 when my boss' boss decided he wanted me to take on more responsibilities (that would have required me to be available 24/7) for zero extra pay.
That said, I'm happy I did it and never looked back.

The biggest thing to spend time assessing is health care. I didn't qualify for discounts under ACA plans so I signed up for COBRA. We had Cadillac plans at work so it was quite pricey.
When COBRA lapsed, I went on ACA and it was no bargain either, but a lot less than COBRA but a step down in care as well, but I was healthy so there was no care impact. At 65 I signed up for Medicare.

Next is whether to take SS early. I didn't, in fact I haven't yet, but with the way they're planning on changing SS, my decision would be different if I was leaving next year. If they have to start cutting back before I die I'll have left money on the table.

My math was pretty easy in that I really didn't have a choice to stay or go. I couldn't see being on someones tether.

Enjoy!!

[HomerS]

In a previous life, I got stuck being a hotel manager for a year after the GM retired.  His wife did the laundry for 116 room hotel.  Rita was a wizard in that room as when she took a day off, I had to bring in two people whose combined age didn't equal hers to do what she could do.  So as to not get caught short, I asked her if she was considering retirement.  As she was loading and explaning how she runs each machine, she tells me that if she retired, she would sit on her butt and die.  Or she could go walk the nearby mall but if she had to get dressed and to go out, she might as well come into the hotel.  She continued saying I left her to run her world, always knew I was in my office if she needed anything and she got paid for working.  Don't have to hit me upside the head.....I got it, appreciated her candor, wished her a great day and went back to my office.

 

[Ace-Garageguy]

I didn't "retire" until I hit 67, and was shortly afterwards approached by two companies that needed somebody with my skills. I've been working close to full time ever since, but on my own schedule, on long-term custom projects.

If I had it to do over again, I would have said "no" and walked away, as the last two projects have turned into nightmares of re-doing work previously done by incompetent chimps...and I include the designers of the DeLorean electrical system and some well paid "name" shops in that category.

I'm trapped into seeing both of them through to completion by my own sense of duty, but it's getting tougher every day, in part due to health issues I never expected.

Once I'm done with these two, I'm done with customer work forever, and plan to live out my days building my OWN stuff...good Lord willing.

[RSchnell]

I'm retiring in 4 years when I turn 50. Extremely fortunate/lucky that I had the opportunities I did in life, but I sure paid for it with the toll on my body and frugal living. LOL I just sold the last couple project cars I had and will buy a couple cars that only need gas & a** to go down the road to satisfy my old car habit. 

I'm going to be reading this thread with interest as  I'm curious to see the responses.

[slusher]

I worked 3 years after my doctor telling me I should retire. I finally retired mow my grass kept my car clean. I built lots of models for years. I only missed the people at first but now that I’m older I miss work like it was when I was there. I compare it to high school you don’t miss it  until many years later.  I think you will not be bored…

[Bronzekeg]

quit work at 49 and have a dog and plenty of hobbies to pass the time. no regrets and never looked back.

[Bugatti Fan]

No regrets retiring. About two years running up to it I converted the back half of my garage into a dedicated workshop cum man cave. Did some scratch building that I never got time to do before. Been retired 15 years and never get bored as plenty of modelling plus other DIY stuff gets done as well as some writing projects.

Fearing getting bored when retired depends on personal motivation. I saw my own parents sit and vegetate in front of a TV when they retired and it made me determined that I would remain active, physically and mentally in retirement.

[Nacho Z]

1 hour ago, Bugatti Fan said:

 

Fearing getting bored when retired depends on personal motivation. I saw my own parents sit and vegetate in front of a TV when they retired and it made me determined that I would remain active, physically and mentally in retirement.

Noel, I have heard stories like this way too often.  I’m aware of it and I’m a bit scared of it so I think I’ll be able to avoid it.  I suppose that lifestyle, for some people, is perfectly acceptable and enjoyable.  I have told my wife that for the first few weeks or months of my retirement I would like to do nothing.  When I say “do nothing” I mean no big trips, no big projects, etc.  Just lots of coffee, sitting on the deck, maybe some TV, getting together with old friends, and things of that nature.  After a short time I’m sure I’ll be itching to do something more productive.

[KMcc]

Sold my manufacturing business ten years ago when I was 55. The business had trouble recovering from 'the housing market crash' and when I found someone interested in purchasing it, I jumped on it.

Prematurely put me in retirement. I also found out that all the little stuff that needed done around the house, only takes about six weeks to do. Then when the wife came home from work and asked me what I did all day, I found out "building models' was the wrong answer.

Meanwhile, a business friend of mine asked me if I could help him with his manufacturing equipment, and eventually, he hired me as his production manager. 

Seven years later, and all is good. I still have to deal with the occasional work 'headaches', but all the 'migranes' I give to the boss. I work about 30 hours a week, take time to take my 87 year old mother to the doctors and her grocery shopping, and I generally get enough bench time to satisfy my interest in building models, without complaint.

I was not prepared for going from 'pedal to the metal' to 'both feet on the brakes'. I have been happy with the 'step down' method. I have a thirtyish neighbor who manages an auto parts warehouse that keeps telling me he wants to hire me to deliver parts for him three days a week whenever I'm ready. 

Who knows?  Good luck John

Edited November 24, 2024 by KMcc
coffee cup must have rested on the enter button

[Nacho Z]

2 minutes ago, KMcc said:

I was not prepared for going from 'pedal to the metal' to 'both feet on the brakes'. I have been happy with the 'step down' method.

 

Keith, I pulled out this one statement from your post because it is one of those very thoughts that I’ve had.  How am I going to go from full speed to idling.  One of my friends told me it took him about 6 months to mentally transition from go, go, go to being able to actually relax.  My money guy has given my wife and I a lot of good advice.  He pointed out that if I do find myself getting bored or restless, I can get a part time job doing something completely different and I can do it on my terms.

Thanks for the reply, Keith!

[TonyK]

I retired at a young age while my wife still worked. Kept busy by doing everything around the house. Cooking, cleaning, grocery shopping, etc. Took a walk everyday and then got dogs so that kept me busier. Yard work kept me busy during the nice weather and I build models of course. It's been great.

Still remember when I retired I'd have to answer many questions from older guys I'd bump into.....Do you fish? No. Do you golf? No. Then what do you do to keep busy?

The biggest issue when I first retired was getting a routine. All those years working created your routine but when it's gone you're left with no schedule.

[bobss396]

I left work in 3020 at 65 during the Plandemic. We had just gotten back from Florida and things were getting crazy even there. 

I pushed up my planned exit date and out I went. We had a new MRP system at work that doubled my work load. Just in emails alone...not worth it. The stress level was unhealthy.

I collected my late wife's SS until I turned 66.3 years old. I had Medicare and kept my old medical plans under COBRA. A mistake... nobody wanted to pay anything. I finally got that sorted and got a BCBS supplement plan. Plus a prescription plan.

Money wise I should be okay. I have a good 401k and 2 pensions. Since I have no spouse, I took a lump sum with one of them. 

I was always busy with the house, yard and gardens. I had things done to the house like a roof and new fence. 

One trap to avoid is daytime TV. I have a pretty well set morning routine. I'm up every day before 7, because the cat says so.

I have my doctor appointments, I'm in a rash of them lately. 

Modeling... I've ramped it up the past couple of years. I got into buying 3D printed parts that take things to another level. I really have no set model area, so I use my dining room... it got out of hand. It was a chore to put everything away last Xmas.

Now I have Thanksgiving in a few days and I'm hosting. Most model stuff is put away and I need my large kitchen counter back to use. I will get there. From there I plan to do some model work before Xmas. Then clean up for that.

So, rather than do boring housework...I'd rather have my 2nd childhood and keep modeling. 

All in all, I'm doing okay in retirement, you'll have an epiphany when the time comes. 

[Nacho Z]

1 hour ago, TonyK said:

The biggest issue when I first retired was getting a routine. All those years working created your routine but when it's gone you're left with no schedule.

This right here.  It is a concern that I have.  I have been thinking about, in very broad terms, what my daily and weekly routine will look like.  I actually like having a routine.  If my wife continues to work for a few more years I’m sure I’ll get into a household chores routine which I won’t mind at all.  Bench time will absolutely be part of the routine.

[Bills72sj]

I am approaching retirement too. I am currently healthy and like my job. The work is fine, the people are great but the software we have to use is as annoying as hell. A couple of years ago I was unemployed for a month. I did not like being that idle during that time.

As mentioned above, I have some back burner projects around the house but they would all be done in no time. When I used to service residential HVAC systems, I got to talk to a lot of retirees. I learned a couple of things. DO NOT WASTE AWAY WATCHING TV. It was sad seeing the state of the folks that did that.

On the positive side, one fellow said, "before you go to bed. have a goal for the next day. Do not wait until morning to figure out what you are going to do".

I am seriously thinking I would volunteer to be a crossing guard for the elementary school down the street. It would make me get out of bed and see some young faces every week day. I would never have to work holidays and I have summers off for 1:1 car shows and stuff.

[Bugatti Fan]

Some fear retirement. Others embrace it.

There are so many variables and we are all different. I spend about 5 or 6 hours a day doing my model making. It gives me a routine (well sort of) that can be flexible so I can get other stuff done like typical household chores, gardening and DIY plus retaining a social life for clubs, outings and family etc. Much as I enjoyed the work I used to do, I don't miss it as much as I thought I would as my activities have now taken a different daily direction.

I would urge anyone running up to retitement, it you have a spare small room, attic space or a garage storing junk instead of your car, make yourself a small studio workshop. The great thing about mine is that I can leave stuff not having to clear it away after each session but can also break away to do something else and come back to it left intact.

 

Edited November 25, 2024 by Bugatti Fan

[bobss396]

I have a pretty set morning routine. Feed the cat, put out bird food, make coffee and check a few web sites. I use my phone since my computer took a dump recently. Then onto something to eat, then attempt to put dishes in the dishwasher.

I usually have something planned for each day. Too many doctor appointments lately, but those will be less in time.

Cooking for 1 person is tough, I do go out with the girlfriend a couple times a week.

I have never considered going back to work seriously. The corporate idiocy and their DEI policies were too much for me to accept. 

[oldnslow]

   I was "retired" by the boss's son at 61 when he took over the business and decided that everyone over 40 was making too much money . I started SS at 62 and haven't wanted to go back . With our SS and 401K disbursement , we're debt free and comfortable , we planned for retirement , paying off everything  . I'm still up at 6:30 and stay busy with a big garden , I do all the cooking , the Grand kids and keeping up with our Drs appts . Some days I wonder how did we have time to work . I don't get out to the garage and work on my models as often as I would like but that's going to change next year , I'm cutting out most of the gardening , just getting too old to be out there every day . I'm 74 and still in relatively good health , so , we're planning on taking a few trips here in the states , Route 66 , the Pacific Coast highway , train ride around the US , a cruise or two , just go out and have fun . You'll be surprised at what will be available when you have no schedule.

[vamach1]

One thing that I quickly realized is most events I enjoy take place on the weekends.  The great thing about retiring is being able to get things done during the week that would be done week nights or the weekend.  Midday traffic is better than the weekends when people are cramming in two days of activities for the week.  My wife has about two years left to work so I manage to stay busy and try to be healthy and active.  I am surprised of the lack of model car clubs in Southern CA where we are for two year before we move to Scottsdale.  The number of year round car shows makes up for that and I have been to one IPMS show.  I retired at 62 and was in South Florida for three years and I took advantage of all the car events and model car shows and was in a great club - Model Car Creations - that met twice a month.  The club motivated me to always be working on a project and finish some builds I started many years ago and building some brand new ones.  I am enjoying every minute of retirement and have zero regrets.

[Nacho Z]

I'm really enjoying reading everyone's input and stories about their situation.  Believe me guys, I'm taking it all in.  Today at work was just another confirmation that I need to get out of there.  

[89AKurt]

I'm self-retired, so opinions of the guest will not necessarily reflect those of the station.  I've heard so many retirements going great, then bam!  My dad worked his butt off all his life, took early retirement from the NPS, got a couple world level trips in, then was diagnosed with Parkinson's, after being incorrectly diagnosed for something else, had traumatic lead poisoning just before Thanksgiving.   I've heard of corporate people, who seem to have thought golf was the only thing, and then literally get bored to death.  A friend worked for ADOT, took years to get over waking up to the clock, he had to remove the clock from the bedroom.  That's why I've always had hobbies, which could interfere with work, because I never had the discipline for 8 to 5.  I'm plenty busy, have to keep the memory function operating or I'll lose it.

[bobss396]

Life is short, I recommend retirement as early as possible. After my wife passed. I was 59 and we had a big mortgage. I was in fear of having to sell, but I'm doing okay with it. We believed in life insurance. We both had retirement savings accounts, I had 2 pensions.

I see retired couples out in stores, the guys are neatly dressed and sometimes look a tad lost. Like they need something to do.

My FIL retired when they were still in NY. His first day off... he announces that he was going to make the kitchen more efficient for my MIL. Keep in mind that this dolt didn't even know how to use a can opener. My MIL threatened to kill him in his sleep. He was one of those guys who needed to force himself to keep busy.

I know of others that sat in front of the TV and were soon dead. My dad worked with a guy at Grumman. He retired, bought a new Olds 442 and keeled over 6 weeks later.

The one big machine shop I worked for, there were too many that worked all the OT they could get, they looked awful, gray complexions. If they had a Saturday off, they wandered around the house. A few were dead within a year, some were smokers and big drinkers. I had always said that I was saving my liver for my golden years. 

Like I mentioned earlier, I'm on a roll with doctor appointments. The ENT for sinus problems, the allergist, heart doctor (3 month check up), now I'm in a cardiac rehab for 36 sessions. Which is a good thing, with my back injury I haven't been as active as I need to be.

Oh yeah, pain management once a month. I have a root canal later this morning coming up. Starting late in 2023, I had 2 implants that were a 9 month ordeal. But, keeping up with your health is very important. 

[bobss396]

I worked at one facility for close to 20 years. This was around 1990,I was talking to someone at a party that was an EMT for an ambulance service. 

I told him where I worked. He said you mean "heart attack alley". At that time I was back at that facility for only a few years, but I did know some fat cats that worked there had cardiac events.

The stress level at that time was considerable. Contracts running out, layoffs, furlough, we had it all. 

One lady in another department was known as The Black Widow. She lost one husband to a HA, married another guy from work, he also died of a HA. She was dating yet another after that.. I was there when the ambulance came for him. He survived but broke up with the lady.

I cannot say how much of a killer that stress is. Watch for the signs, always have an exit plan.

[MeatMan]

On 11/24/2024 at 9:17 AM, bobss396 said:

We had a new MRP system at work that doubled my work load. Just in emails alone...not worth it. The stress level was unhealthy.

I feel you on this one. I was actually on the team that integrated our MRP system as a "subject matter expert" and they didn't listen to anything I told them on how we used it. Total train wreck! MS Excel became the workaround.

[Chuckyg1]

I called it quits after 50 years in food service in March 2023 @ 66 years. The wife has two years to go. Enjoying it so far. I've got the models, a garden, grandkids,(and their sports.), cooking, reading and odd jobs/repairs, etc. I'm in relatively good health and keep busy. Hit a slump in November 2023 when the colder weather chased me into the house. I needed something to keep me busy. Still had the hobby, but wouldn't dare do only that for fear of my demise, and refuse to sit in front of the TV all day. I ended up working at the middle school 10 - 2 each day, serving lunch. I have a great time joking with the kids, (6 - 8 grade.) Weekends, holidays and the summer off. Plus snow days! Keeps me busy and gets me out of the house. Literally 6 minutes from home. Also satisfies the need for socialization, and gives me pocket money. As others have stated, life is short. Have a plan, diversify your interests, and do it as soon as you're able. Life is also cruel. My son's friends father had a heart attack and died while giving his retirement speech.