Before I develop the 1000 yard stare, I want to get out. No I'm not military, but I have the utmost respect for those who served. Any advice? Im pretty sure we are heading into a severe recession, but I don't watch the news at all. It introduces too much negativity in my otherwise very blessed life. Any advice from those who had traversed similar times would be greatly appreciated.
I may be retiring in July.
- Thread starter ABiggerUglierJoe
- Start date
I understand where you are right now. I semi-retired 2 years ago the day after my 66th birthday. I draw close to max SS check along with a couple of defined benefit pension checks from a couple of former employers. Back in the day, employers actually still had pension plans. It’s pretty scary looking at the fixed income situation because I worked in sales with high commissions for a long time. When that’s gone it can lead to discomfort for sure. My wife is still working primarily because she has a job as an Administrator at a long-term care facility that pays her over 200K/year. She wants to retire soon and I want that for her, too. We have very little debt other than about 50K on our house and I have 400 acres of land that’s paid off and in standing timber currently. Even in these times of depressed timber prices I could thin enough timber to pay off the house in 2 weeks. We will definitely have to tighten up on our spending a little bit and be fine. We realize that we won’t probably travel as much as we had planned we would in retirement but we can live comfortably even without her big salary.
I was in the military and I do understand the “1000 yard stare”. I’ve witnessed it first hand and it isn’t a good look or a good place to be. I used to be a big political guy who watched the news every night. Did it for years. I don’t watch the news any more because it is depressing and it will upset me to the point that I can’t sleep. The only news I watch is the local news and weather at 6 pm most nights. I happened to see the news from yesterday and saw where the idiot Biden got the he/she basketball player home in exchange for a black hearted arms dealer who killed Americans. He could have traded a force-recon Marine instead of the basketball player but he traded for the basketball player to appease his supporters. That’s why I don’t watch the news.
I see nothing to keep our economy from going into the shutter. We are already almost there. If things that are going on in these current times are upsetting you they will probably start affecting you even more. Remove anything negative from your life and uncomplicate things if you can see a path to putting it behind you. If you can do that with few regrets by all means excise the demons and get off the hamster wheel. Life is short, my friend. Don’t kill your self trying to stay in the wheel. Good luck to you
I was in the military and I do understand the “1000 yard stare”. I’ve witnessed it first hand and it isn’t a good look or a good place to be. I used to be a big political guy who watched the news every night. Did it for years. I don’t watch the news any more because it is depressing and it will upset me to the point that I can’t sleep. The only news I watch is the local news and weather at 6 pm most nights. I happened to see the news from yesterday and saw where the idiot Biden got the he/she basketball player home in exchange for a black hearted arms dealer who killed Americans. He could have traded a force-recon Marine instead of the basketball player but he traded for the basketball player to appease his supporters. That’s why I don’t watch the news.
I see nothing to keep our economy from going into the shutter. We are already almost there. If things that are going on in these current times are upsetting you they will probably start affecting you even more. Remove anything negative from your life and uncomplicate things if you can see a path to putting it behind you. If you can do that with few regrets by all means excise the demons and get off the hamster wheel. Life is short, my friend. Don’t kill your self trying to stay in the wheel. Good luck to you
Live that first week like you want to live the rest of your life (absent travel). Have enough of a hobby that you aren't just bored, preferably something active and outside like gardening. Do it that first week! Or you never will.
Travel. Lose some weight. Figure out a way to make some passive income (gardening, farmers market, church, school, etc.). Budget. Stay active. Stop smoking.
I’d pass on any large purchases. Mortgage rates dropped over the last month quite a bit, but probably not a great move for you guys.
Pay off any credit card debt. Don’t let them carry a balance monthly going forward.
It’s never too late to buy a guitar and learn how to play.
I’d pass on any large purchases. Mortgage rates dropped over the last month quite a bit, but probably not a great move for you guys.
Pay off any credit card debt. Don’t let them carry a balance monthly going forward.
It’s never too late to buy a guitar and learn how to play.
While I haven't developed that yet stare just yet, I will say that I not only hear the question you are asking but sense it as well.
For what it is worth, I'm trying to find the redeeming aspects of the occupation that don't make it feel like a job (but more of a hobby) that I actually look forward to daily. If I stop finding those aspects, then I will step away, close this chapter and look forward to the next chapter.
A couple sayings that have stuck with me that have been stated to me from chersihed mentors whose souls have gone to rest:
"Life is like a roll of toilet paper -- the closer you get to then end, the faster it goes"
"When on their 'death bed,' no one ever says 'I wish I had worked more.'" (This gentelman was an MSU alum)
I hope you find that next chapter, and when you do-- let us know so we can learn from your wisdom (Lord knows I'll take all the wisdom a trusted MSU alum has to offer)
I retired almost seven years ago. Make sure to go to church every Sunday. Otherwise you will not know what day each one is. I never thought about how regimented my work week was with meetings, appointments, etc. until I retired. You will no longer be subject to your calendar. In retirement every day is really Saturday. Make sure to go to church so you can get ready for the next six Saturdays. Good luck.
I retired age 60 on 6/5/20, pandemic work environment did me in and I just didn’t enjoy my job. You need hobbies and you need to stay away from the TV except for watching sports or streaming good entertainment. I play a lot of golf, hunt, fish, work on my properties and go to Starkville and follow sports and hang out with friends. I was a business executive for many years and the biggest adjustment is realizing you aren’t that important anymore which is difficult for many but you need to accept it and embrace it and enjoy life. If you have a job you love I would not retire but cut back your hours over time until you are ready. Good luck I really like retirement.
401 hardship withdrawals just hit an all time high so people are suffering and I agree it’s going to get worse before it gets better but it will get better.
Last edited:
Lots of good info in your post Bravo. But before you lose to much sleep, read up on Whelan. He was actually an admin clerk in the Marine Corps and was dishonorably discharged after a court martial in 2008. Here's some of the language from the official record of his appeal:
A military judge sitting as a special court martial convicted the appellant, consistent with his pleas, of attempted larceny, three specifications of dereliction of duty, making a false official statement, wrongfully using another’s social security number, and ten specifications of making and utteringc hecks without having sufficient funds in his account for payment.
I have seen multiple reports and confirmation from the company that he was working as the head of global security for Borg Warner... A multi billion dollar public company. How does a guy with a dishonorable get that job? Lying on the old resume I guess.
Anywho, I seriously doubt he did anything wrong and hope he gets home, but a Force Recon marine he is not... He was an admin guy that stole somebody's identity and did some other sorry *** stuff while deployed in Iraq that should have had him turning big rocks into little rocks at a US Military facility for a while... But not Russia.
Last edited:
I Quit my regular job in March 2020 just as Covid was hitting, I was 55. I had a side gig that I’d had for about 15 years that I’d planned to finally devote full time to. My side gig was the manufacturing of some products in China. Trumps tariffs had hurt but Covid was practically the death blow to manufacturing in China. I lost all my Chinese contacts. I had previously been approached to purchase my business so I actively pursued that and sold the business. I was debt free and decided that I was officially retired with the option to return to work if I ever wanted or needed to. I also had the benefit of low cost health insurance provided by my wife’s retirement package, this was a huge deciding factor. I’m two plus years in and don’t regret it The last year in the market has been scary when the only income you have is market investment income but you’ve got to look at the big picture and believe in history. I took up golf after never playing my entire life. I’ve done a little consulting work and I’ve even turned down some work. Talk to a good professional financial advisor, get a plan. Life is too damned short to be miserable.
Oh, I haven’t watch any national news in 4-5 years. It’s all just propaganda designed to trigger an emotional response. Don’t give them the benefit of your time.
Do you find it a peaceful, leisurely way to burn a few calories and enjoy the outdoors? Or an obsessive and maddening game and hat you threaten to quit every round before hitting one prefect shot that sucks you back in?
Asking for a friend.
I remember driving out of the company for the last time, saying to myself "let me make sure I understand. They are going to pay me to not come in here anymore." After a rough start in my professional life I had finally found my niche. I had advanced, then went to Saudi Arabia, got a promotion, then laid off due to the recession of the early 80's. Returned to the USA, got another good job, then got laid off due to the government pulling the only contract we had. Got another job in the USA, for not much money then worked my way up again. Love retirement.
I don’t take it serious at all. I have whacked the ground a few times with a club in frustration but if I start losing it I’ll just pick the ball up, get a beer , and go to the next hole for a fresh start. One group I play with has a double bogey limit and another bunch has a three putt limit. Both keep your scores from depressing you and gives you hope.
Just be careful if you are relying on a pension for retirement. That can disappear almost overnight.
Screw that. I’m looking forward to every day being better than Saturday. Saturday can be a pain in the ***. Lots of people are out, stores & restaurants are crowded. Weekdays without work are a lot better.
Every night is Friday night and every day is Saturday.
Have plenty of hobbies to enjoy and places you want to see. Also have a specific exercise plan in place and stick to it. People that retire and just go sit on their rear end aren’t usually around very long. You have worked for most of your life and retirement is the reward. Don’t waste it. Be active and enjoy something every day. I have been retired about 4 years now. My wife and I try To go on a couple of good trips every year plus numerous short ones. I try to make a western hunting trip every fall and plan to keep it up as long as I can physically handle it. MY wife and I go to the local YMCA a minimum of 3 mornings a week and work out. I spend afternoons hunting, fishing, riding the tractor, etc, as much as possible. Days when the weather is bad are the hardest ones to fill. I use those days reloading ammunition, reading, or checking out the Six Pack. Some of those days can get long but the others make up for it. People that have plenty to do love retirement, people that don’t have stuff they like to enjoy are miserable. My neighbor was a work a holic with no hobbies and I think he is bored to death. He has no idea what to do with himself. For me it’s kind of like being back in high school with a steady girl friend and no homework.
I'm eligible and can afford to, retire in September. For you retirees who enjoy the libations, do you want until the weekend to drink or do it during the week? Now I'm mostly a weekend drinker but will drink during the week occasionally when hanging out with friends/hunting. I'm somewhat concerned about getting into too much drinking when I retire.
Also what side gigs do you guys do? I won't need the money, but having something to focus on a couple days/week will be nice. The old lady will still work for several more years, so I'll be engaging in solo activities for a while. I'll be 56, so too young to join the old man coffee club (plus I hate talking politics). I'm in perfect health (and my family has a long lifespan), so all options are open.
Also what side gigs do you guys do? I won't need the money, but having something to focus on a couple days/week will be nice. The old lady will still work for several more years, so I'll be engaging in solo activities for a while. I'll be 56, so too young to join the old man coffee club (plus I hate talking politics). I'm in perfect health (and my family has a long lifespan), so all options are open.
Last edited:
I retired in 2007 and then boom.....the real estate and financial markets collapsed. A little nerve racking but I stayed away from CNBC and held on. All I can say is live within your means and don't make financial decisions you may regret later. Overall retirement has been great. Everyday is a Saturday.
I’m eligible to retire now.
I’m not since I live by myself and still have house payments.
So I’m in the situation of not actively looking for new jobs but if one comes along that interests me, at the very least I’ll ask about it.
Edit to add: I’ll admit that before my retirement eligibility I was getting real close to that 1000 yard stare. But now I feel rejuvenated since I have more options.
Last edited:
If my wife was pulling in that kind of cheddar, I would be sitting on my *** as well.
As stated above, every night is Friday night and every day is Saturday. That being said I don’t drink any more than I did, it’s just spread out over more hours. Instead of drinking 8-10 beers on a Saturday I’ll drink three on Tuesday, two on Thursday and four on Friday. If I’m mowing or bush hogging and want a beer at 11am on a Wednesday, I get a beer. If it’s Friday night and I really want a glass of tea rather than a rum and coke, I drink a glass of tea. I haven’t really pursued any work but some has found me. I met a guy playing golf, I was genuinely interested in his job and we discussed it while playing. At the end of the round he asked me if I would be interested in working a week or two every couple of months, I told him I would. Three months later he called and I worked ten days. They have another project in February that he has contacted me about. I also have put word out to several farmers that I’d be willing to drive a tractor, grain buggy, or truck during harvest. I fill in a day or two when the regular guys are sick or when they are racing rain to get crops out. It makes me a little “ she money” and gets me into a routine at least for a few days.
So let me ask y’all something. Out of the 8 parents and step parents that my wife and I share, just one was able to retire at what I consider to be an ideal age. 4 couldn’t do it til their mid 60s, and then we have 3 that are actually still working. Now, a couple of those could shut things down now if they wanted to, but the last(my MiL) will basically be working til she’s no longer physically capable. She’s done nothing to prepare.
My question to y’all is… what are some things y’all did to put yourself in a good position to retire? Everything you read these days makes it sound like retiring before 65 is pretty much a pipe dream for 99% of Americans
My question to y’all is… what are some things y’all did to put yourself in a good position to retire? Everything you read these days makes it sound like retiring before 65 is pretty much a pipe dream for 99% of Americans
I was raised by a a child of the Great Depression and WW2, that contributed a lot. I still live in the house I built when I was 25 years old. While many of my contemporaries were selling and buying homes and constantly going bigger, I was paying double my payments against my mortgage. I was debt free at 37 years old. If we want a new car, boat , RV, vacation, or any other major expense, we don't borrow money. We save for those expenses ahead of time and pay cash at the time of purchase. Instead of blowing bonuses on a new boat we put that money in a separate fun money fund that I manage myself. That's our new car, new truck, new AC unit, new roof or whatever fund. If the money isn't there we don't buy it. We also both had small side gigs, nothing that we could live on solely but any money from those gigs went to the fun fund. It wasn't much each year but after 15-20 years it added up and it's multiplied many times over. Live below your means and save, save, save.
I didn't get married or have children. If I had and got a divorce or two I would probably still be working. I didn't necessarily avoid marriage but I'm told I was too picky. I required a certified financial statement from anyone I got interested in and that ended the relationship. ha. I retired at 53.
I had a child from my first marriage. My current wife of 30 + years and I never had children. That has contributed immensely to our financial security. Kids are expensive. We both retired at 55.
Not retired, but one lesson we learned the semi hard way is to put cushion in your plan for setbacks. We were basically saving to have the option to retire sometime in mid to late 50’s. Had some things go right and were on path to being ready around 50. Then Had some things go wrong and at the current pace we won’t be ready until 60 or even later. We’ll probably be able to get back on track and shoot for mid to late 50s again, but if we had been shooting for 62 to begin with, or worse bumped up our lifestyle more than we did when things were going well, we’d be looking at major changes to get back on track.
I'm not retired yet, but I've recently picked up a side gig that I enjoy, so I thought I'd pass it along.
I started refereeing girls lacrosse games this past fall. (My daughter grew up playing lacrosse and plays now in high school.) I really enjoy the exercise, and I get paid for it!
Certainly, refereeing a sport isn't for everyone, but I encourage you (and, everyone else) to give it a try if it appeals to you. As best I can tell, every sport out there is looking for refs.
Brother, I certainly appreciate your responding with some well thought out and researched facts about this guy. He has certainly been built up by certain people to be something much different than he actually turned out to be. It seems that’s the way “news” is reported these days. Does anyone just report the actual facts any more? This is clearly a prime example that there are plenty of people who just lay it out there and see what sticks. Sounds like a real POS for sure-makes me feel stupid for even half-*** defending the dude. He definitely needs to be behind bars. Cowardly dude for sure. Thanks again for the heads-up-and thank you for doing it in such a diplomatic way. I appreciate it, kind Sir!
My parents and in-laws were in the same boat. My father was a farmer (who barely scraped by) and my mother was a nurse at a county hospital that wasn't covered under PERS (her retirement for a lifetime working at the hospital is less than $500/month). My mom retired too early at age 62ish (to help take care of her mother who lived to be 96) and left a lot of money on the table. She's still living and has to rely on support from her kids. For those who haven't prepared for retirement, work as long as possible.
My wife and I are in our 50s, have great jobs and have saved throughout our marriage. We keep unsecured debt low and have picked up a couple of rental properties along the way. I'll have two pensions and gub'mint healthcare. The old rule of thumb is you can withdraw 4% per year from a 401k and still maintain/grow the balance. A million-dollar 401k produces $40k/per of income. So once you figure out how much you need to live on (considering pensions, SS, passive income, etc), you'll have your 401k target for retirement. Health care can be another huge expense, fortunately, I'm retired military (if you can call the AF military) so that's not as big an issue for me.
Last edited:
Health insurance for my wife, myself and son is $950 per month with a 12k deductible. It’s an enormous challenge for early non govt retirees.
I suspect if there is a recession it will be mild and short however Stagflation is coming, and I think that is worse.
Yes. When I first retired I think my premium was $140 for me with a $10k ded. My last year prior to medicare I paid $500/mo. Fortunately I didn't have any major health issues during those years.
My wife and I worked a combined 93 years. We started very young. We both had a 401K at work and always put in as much as we could afford. We were very aggressive with our saving and investing for along time. In the early years we were pinching Penny’s but still tried to figure out a way to save a few bucks every month. We enjoyed life but always tried to be financially responsible. We both retired before 65 and have never looked back. A 401K is like the magic bean stalk if you start early, stay the course, and use good common sense with your fund choices.
I retired five years ago in my mid-forties. It's been a blast, and God's been so good. Some advice:
1. Read "Halftime" by Bob Buford. Then read it again. He put on paper everything about moving from "success to significance" that was floating in my head my last few years in the working world.
2. Have some ideas about how you'll fill your days, but don't lock yourself into anything. I thought I'd need some sort of lower stress job to fill some of the sixty hours per week that were no longer spent working. I explored a few things but God finally got it through my head that I wouldn't know what was best until I pulled the trigger and left my job. Instead of a "job after the job," I've had a chance to write, travel, and get more involved in ministry activities. It's amazing how fast the calendar fills up, and I don't do anything I don't want to do.
3. Before retiring, live for at least six months off of whatever your post-retirement income will be. Act like your paycheck doesn't exist and just put it straight into savings/investments.
4. Be somewhere between honest and pessimistic about what post-retirement income and expenses will look like. Research health insurance carefully and brace yourself for huge numbers. Golf and travel are great but neither is cheap.
5. Cash is trash, until it's not. In my nearly five years of living off investment income, there have been about four times that I got pretty tense about my economic future. Having 6-12 months of expenses in cash equivalents will help you sleep at night.
These are some great thoughts and ideas, but I need to add one more to the ones already presented...that is staying involved. Maybe a hobby, a volunteer job. William Raspberry, the writer from Okolona, said it best when he said, "you need to have somewhere to go." I have a coffee group that meets M-F. Guys show up before 7 but you have to leave a 9. We do lunch occasionally and go to the pistol range also. There're always ideas on fixing things and getting things done. There're always 10 or more suggestions. Find a group and get involved.
This. A number of studies show that men decline quicker after retiring than women. Maintain friendships and social connections. Get involved in the community. A lot of retired men don't realize how much they have to offer others. For instance, have you noticed the large number smart young, college educated people who just can't fix anything or work out an issue using common sense? You likely have talents, wisdom and know-how that can benefit others in some way.
All good stuff in this thread. I'm about to be 57 been retired 3 years. I have a ? haven't seen it posted in this thread, how much do y'all think is enough to retire? I also have an advisor, but would like to y'all's thoughts. I'll hang up and listen.
Latest posts
-
How much NIL is Vandy paying?
- Latest: paindonthurt17
-
Fast charging EV station in Starkville- Latest: OG Goat Holder
-
Get unlimited access today.