What are your (quasi) retirement plans?

[Bodhisattva]

My wife and I have been discussing this a lot lately. She’s decided that she wants me to retire way early in a few years (after Lily enters college). My wife wants to become a traveler nurse anesthetist and bounce around the country (and internationally) every three months or so. She could do this and make $150 -$200/hour, and with my retained benefits and our accumulated investments, her plan is very appealing. The hospitals that recruit traveler nurses don’t provide benefits like health insurance or 401(k) contributions (hence the higher salary), but they do provide housing and maybe even food allowances. We’d come back to Ponte Vedra Beach every two or three rotations. It’ll be interesting to see if we can make this work and if we still like this plan in the coming years. I’m sure there are hurdles we haven’t considered yet, but it’s worth checking out.

What are you guys planning or thinking about planning?

 

[B1GTide]

If life doesn't get in the way, retire at about 65 (11 years). My wife is diabetic, so medical coverage for her will keep me working until at least 63. We could afford to retire sooner, but I love my job and am in no hurray to walk away from it.

 

[selmaborntidefan]

Unfortunately, my retirement plan probably consists of not waking up to go to work one morning when I'm however old. I'm only about half kidding.

I went and spoke with an old former coworker yesterday who retired two years ago. His only real question was why I'm still at the same job since he'd told me to leave as he did. I pointed out that Covid limited movement last year (he agreed) and have tried to leave all year long for another position. I laid out my plan of taking off at least one month and maybe more and likely do one of the travel jobs that pays better money (since I have no significant other or child to worry about). Save what I can, hire a financial advisor who is helping another worker I have here, and hope I guess. I got drilled with two substantial setbacks with the Great Recession (lost everything) and then a divorce. That's not to whine or blame just contributing factors.

The question may turn partly on what I stand to inherit, too, since there are four of us. Or which parent lives longer and what role I have to play there. The positive - in my case - is that with three siblings I'm very unlikely to be homeless even if I'm down to subsisting on a steady diet of government cheese and living in a van down by the river.

 

[BamaNation]

My wife and I have been discussing this a lot lately. She’s decided that she wants me to retire way early in a few years (after Lily enters college). My wife wants to become a traveler nurse anesthetist and bounce around the country (and internationally) every three months or so. She could do this and make $150 -$200/hour, and with my retained benefits and our accumulated investments, her plan is very appealing. The hospitals that recruit traveler nurses don’t provide benefits like health insurance or 401(k) contributions (hence the higher salary), but they do provide housing and maybe even food allowances. We’d come back to Ponte Vedra Beach every two or three rotations. It’ll be interesting to see if we can make this work and if we still like this plan in the coming years. I’m sure there are hurdles we haven’t considered yet, but it’s worth checking out.

What are you guys planning or thinking about planning?

That sounds very appealing if you like to travel and even if done for a couple years would be very lucrative.

If you're still wanting to contribute pre-tax dollars into a 401k, she could setup a Solo 401k if she's working for herself. Then she could contribute up to $58,000 per year.

 

[selmaborntidefan]

My wife and I have been discussing this a lot lately. She’s decided that she wants me to retire way early in a few years (after Lily enters college). My wife wants to become a traveler nurse anesthetist and bounce around the country (and internationally) every three months or so. She could do this and make $150 -$200/hour, and with my retained benefits and our accumulated investments, her plan is very appealing. The hospitals that recruit traveler nurses don’t provide benefits like health insurance or 401(k) contributions (hence the higher salary), but they do provide housing and maybe even food allowances. We’d come back to Ponte Vedra Beach every two or three rotations. It’ll be interesting to see if we can make this work and if we still like this plan in the coming years. I’m sure there are hurdles we haven’t considered yet, but it’s worth checking out.

What are you guys planning or thinking about planning?

I skipped over part of this when I read it.

What you're saying is my ambivalence, but I can also live cheaply, which would help me pocket a larger tax-exempt salary, too.

Also - I draw VA benefits and salary from my USAF days.

 

[Bamaro]

Hookers and Bourbon

 

[mrusso]

Hookers and Bourbon

This man has a plan!

 

[Bazza]

I like to work so won't ever stop. Just shrink the hamster wheel enough to fit other stuff in. I like working. I like what I do. I think it's different for everyone.

 

[seebell]

Retirement= I drop dead on the job and they throw my carcass in the nearest dumpster

 

[TrueCrimson7]

Hookers and Bourbon

That reminds me of the response by baseball legend Tug McGraw when asked what he’ll do with his salary.

"Ninety percent I'll spend on good times, women and Irish Whiskey. The other ten percent I'll probably waste."

Retirement for me is still many years away, but I am trying to save as much as I can so I can retire before it’s too tiresome to travel.

 

[SavannahDare]

I'm six years away from my 30 yr retirement from federal service. The plan for now is transitioning to part-time telepsychiatry work, if I can stand it by then. Honestly, the way things are changing in the medical field (not for the better), I might not be able to take it beyond the next six years. If I can stomach it, I'll work 20 hours a week and will be able to travel while working, which is appealing.

I've also given serious consideration to a fun little side hustle that will contribute to the local community's culture - buying and operating an ice cream truck! I have the most fond memories of the ice cream truck making its late afternoon run through our neighborhood and there's not one here even though there are tons of families with littles in my town. Getting into a rhythm of seeing the same kids day in and day out, making them happy with the sound of the ice cream truck, cheap ice cream treats....I'd really groove on contributing to some kids' happy memories the way our ice cream truck operators contributed to mine. And it's not like I'd even have to do anything but break even. I wouldn't "need" it to haul in a profit because my retirement and investments and part-time doctoring gig will have us set fine.

It'll be nice to do something that's completely different from what I've been doing most of my adult life.

 

[gman4tide]

Hookers and Bourbon

Why wait for retirement?

 

[gman4tide]

Ive actually been thinking on this a lot lately too. Seriously thinking about pulling trigger before first of year. I’ve got 35yrs in but need 3 more to reach min retirement age. May accept that 15% reduction and start anew somewhere fresh.

 

[BamaNation]

d

I'm six years away from my 30 yr retirement from federal service. The plan for now is transitioning to part-time telepsychiatry work, if I can stand it by then. Honestly, the way things are changing in the medical field (not for the better), I might not be able to take it beyond the next six years. If I can stomach it, I'll work 20 hours a week and will be able to travel while working, which is appealing.

I've also given serious consideration to a fun little side hustle that will contribute to the local community's culture - buying and operating an ice cream truck! I have the most fond memories of the ice cream truck making its late afternoon run through our neighborhood and there's not one here even though there are tons of families with littles in my town. Getting into a rhythm of seeing the same kids day in and day out, making them happy with the sound of the ice cream truck, cheap ice cream treats....I'd really groove on contributing to some kids' happy memories the way our ice cream truck operators contributed to mine. And it's not like I'd even have to do anything but break even. I wouldn't "need" it to haul in a profit because my retirement and investments and part-time doctoring gig will have us set fine.

It'll be nice to do something that's completely different from what I've been doing most of my adult life.

I'm envisioning a "Lucy" (from Peanuts) ice cream stand (truck) / Psychiatry Practice.

 

[BamaNation]

PS> the sound of the ice cream truck makes me happy, too. We never had one out in the country growing up (obviously) so in ATL when we had the occasional one drive through, kids + me were happy. ... until one of our evil neighbors told them they didn't want the truck to come back because their kids couldn't eat ice cream.

 

[Bazza]

-snip- We’d come back to Ponte Vedra Beach every two or three rotations. snip-

Like you I'm on the coast....only 2 blocks from the beach here. I'm thinking maybe doing a VRBO thing so I can travel and still have my home whenever I want it. I would have to do some research - don't know that much about it.

Today:

 

[Padreruf]

I retired @ 67, took a part-time church, and fully retired @ 70. Delaying SS until that age gave a 8 per cent raise every year. With my income from my retirement monies we live comfortably, not lavishly. Our house and one car are paid for, no real debts, and we are able to do some traveling.

The lack of pressure is amazing...RETIREMENT IS UNDER-RATED is my new favorite expression. I don't have to make anyone happy...save one person! LOL!!

 

[DzynKingRTR]

My plan is to become insanely rich, marrying a crazy hawt redhead that only loves me for my money and dying with a smile on my face.

What will probably happen is a frozen turd ball will fall on me while biking.

 

[crimsonaudio]

I'm planning to be able to comfortably retire by or before 65, but currently hope I never do. No desire to. Still adore my work 25 years in...

#iwanttobetide-hsvwhenigrowup

 

[FitToBeTide]

Employment has been in my rearview mirror since 2010, which was my second retirement.

We were fortunate to have wisely invested our monies for several years before we both retired from the health field. Soooo glad we stuck to the plan.

At retirement we purchased an RV and began travel to do volunteer work in a variety of venues. Have loved it.

Our plan was to retire at a time when we would still be in good enough health to be able to enjoy it. Retirement has been a joy and blessing for us.

So if you're still working and are able to, retain a reputable investment counselor to get you ready for that time when you hang up your spurs. Then armed with their wisdom, STICK TO THE PLAN!