Posted by scaredysquirrel on Aug 3, 2018 4:40 pm
Posted by Cynthia Mac on Aug 4, 2018 9:34 am
I worried, and fretted, for six months before I took early retirement. What would I do, could my investments supplement my income, would I lose my sense of “daily discipline,” would I need a part time job?
Like you, I had conversations with the pension people, and my “financial guy” (who, by the way, was most reassuring).
Then I remembered a line from The Artist’s Way that said, “Leap and the net will appear.” (All the advisors had bloody well shown me the net!) So, I did it — I retired 7 months early. And I haven’t looked back.
While I really, really liked my job, it appears I had chosen the right time to leave it, because the transition was seamless: I just stopped getting up every morning at 6:30 a.m. and getting in the car at 8.
During my “period of angst” people told me things like, “you won’t need a wardrobe,” “you won’t spend as much money on gas,” (not that that’s a thing with a 10 minute commute), and, “you’ll spend your money differently.” All of these things have turned out to be true. Even though I didn’t have a commute, per se, suddenly, the car sat 2-3 days a week, and I did my errands on the other days, so I did end up spending less money on gas. I bought my lunch every day in the cafeteria, and suddenly I wasn’t spending that $35 bucks a week. Two years later, I’m still ditching old work clothes I’ll never wear again, and I’ve likely spent half of my wardrobe budget that I used to. I can’t believe I’m saying this, but I’ve worn panty hose 3 times in the last 2 years, and I was wearing them 5 days a week! Think of the savings right there!
I haven’t had to get a part-time job, but even if I did, think of the hours saved in commuting and the extra time you’d have to insert more gardening or crafting or reading into your days.
You know far better than I what life can throw at you at a personal level, although, in the first two years of my retirement I lost (in chronological order), my dog and my mother, and accompanied my Dad on his recent journey with lung cancer. Because of these 3 events alone, I feel silly for worrying for six months about taking the leap, and instead I’ve become grateful that I did it. That being said, you must do what’s right for you. Talk to your financial guy, do a little more number crunching, and make your decision.
You know I wish you all the best. Private message me if you have any detailed questions — I lost my benefits when I retired, but I took a “follow me package” for extended health, and have self-insured my dental care — that’s working out great - it will soon be part of my travel fund!
Posted by Jcs123 on Aug 4, 2018 10:11 am
Posted by scaredysquirrel on Aug 4, 2018 1:11 pm
Posted by scaredysquirrel on Aug 4, 2018 1:20 pm
Posted by Cynthia Mac on Aug 4, 2018 3:01 pm
Retirement has enabled me (seriously, enable is the right word) to pursue all my textile interests. If you don’t have something that is grabbing your attention as much as that did for me, you’re wise to be considering other options such as volunteering and part-time work.
Have you factored in early CPP as well? I’m not yet old enough to get it (soon...) Plus, you’re close enough to getting OAS as well that you might “tight belt” it for a year or so. Or not! It’s entirely your call!
Posted by Jackwb on Aug 4, 2018 4:26 pm
Hi, this is our story, my wife's and mine.
I've only got about a year and a half to go to get a full pension, so it's not really that bad when I think about it. I guess it's just that I've gotten out of the daily routine of working and commuting. I do need something to keep my mind occupied and sense of self-worth.
I retired at 55, my wife was 53 when she decided to accept an early retirement package at work. They bridged her at full salary until she was 55, then she received three years severance and her full pension entitlement (and benefits) with no penalty.
She tried to retire but found that she wasn't ready so she accepted a position that she liked...it was good as she was receiving her full salary from her old company as well as a similar amount at the new place. After a year she tried again but still wasn't ready so when another company called, she accepted the position and stayed 4 more years (she loved this job). Did retirement 3.0 at 58.
So now she volunteers, teaches a course at our local hospice, another course at the health centre (Living with Chronic Pain), works with handicapped seniors, mostly physiotherapy for heart and stroke survivors, is on the board at our YMCA, and has time to work with her rug hooking guild people. She wants to do more but as a snowbird, she's away in the winter and most places need you year round.
We both took CPP at 60, got OAS at 65.
So, just a long way of saying that Life 2.0 starts at retirement...I do nothing of value, she stays very busy, some days I need an appointment to see her.
Enjoy the weekend...long weekend in Ontario, you?
Posted by scaredysquirrel on Aug 4, 2018 8:31 pm
Posted by scaredysquirrel on Aug 4, 2018 8:37 pm
Posted by Jackwb on Aug 5, 2018 2:18 pm
Lucky you...I'm constantly surprised how many people define themselves by their jobs and have a real problem when they retire. I've learned that the most popular tee-off time at golf clubs everywhere is between 8:00 and 9:00 AM because the retirees need to stay in that routine of going to work. Many companies have retiree associations where the members continue to continue to meet socially and have shared activities. One of my neighbours in Florida is 83 and still working...his first question to me was if I was ever worried about what to do when I retired...his second question was if I am a conservative or liberal (in the American sense).
“Guilty because I’m not at work.”
Very sad..it even took my wife 5 years after retiring to retire for good, but then she still sort of working but for free.
Posted by ACH2015 on Aug 6, 2018 8:01 am
Is there a line we are not supposed to cross that defines the right balance between social and work life?
If so, I guess I failed to stay on the right side of that line myself. I struggle to this day with having had to leave my profession (over two years ago) - not because I wanted to, but because I had to, given my set of circumstances.
I worked shift work for almost three decades, that in itself changes your social life and the patterns, and separates you, even from those M - F, "9 to 5ers" I have not been a part of since the late 80's. So I guess I've been in my own little sub group of the unbalanced for the last thirty years. It's not sad to me, just the way it was.
Balance, I am slowly learning in my late 50's is an individual experience and some will fall right into retirement with ease. And some of us will "struggle" with redefining ourselves and our lives when we leave the workforce - voluntarily or not. Not sad, just the way it is. Because we aren't all built the same, nor will we all fit into the same mold - even if we try - even if we want to.
My life balance has been unbalanced for years - lots of reasons and not just due to cancer paying me a never ending visit like a house guest that overstayed its welcome.
I guess I'm trying to say what is right for you is just that - right for you and not everyone will fit that bill.
Work is life, and life is work. In my world. It's been decades since life balance just kinda happened for me. Since around '75 its been work to stay or find whatever balance I have.
I'm still learning to accept that what is right for me is not necessarily right for others, and I've been guilty of that here on the site. I've been working to change that flawed perception I have.
Personally, I would rather be remembered by my peers, family and friends for the good work I did and took pride in everyday, and be able to look myself in the mirror and say "I did my job, I did my best" because that's what is important to me. The cost if you will, to how others may perceive was imbalance. I crossed that balance line I guess.
Work was in my adult life always my first priority in my profession. Not saying it was right, and its not sad to me, just the way it was.
ACH2015 - Andy.
Posted by Jackwb on Aug 6, 2018 8:45 am
Life is sort of like that...when I met my wife, she was 17 and just graduated from high school, I was 19, driving a fork lift in a warehouse, and had serious substance abuse issues. We dated, then when I was 20 I took the midnight train to anywhere. Lived in Afghanistan, Pakistan, and India for about a year, came back, my parents let me live in their garage until I found a job, and was a confirmed substance abuse person. She was 21, I was 23 when we married, she cut me off from my friends, had me enroll as an extension student at UofT...5 years later we had a two year old daughter, bought our first house, I was clean, had a new B.A., and we both had real jobs and began to climb the corporate ladder.
We wanted to do good, ended up doing really well.
And I hated every minute of the working part, always wanting to return to my former impulsive, unstructured lifestyle. At 55 I made it happen, never looked back...I now have no commitments, do what I want, when I want, as does my wife. She needs a structure, volunteers for everything yet we compliment each other, as we always have.
Life is good, even with our health issues...we're still a couple of kids having fun, both of us are still on that train to anywhere looking forward to the next stop. Both of us were very well known and respected in our careers, we still get job offers that we laugh off...I turned down an offer three weeks ago, just the thought of going back made my butt slam shut.
Different strokes for different folks, I guess.
Posted by scaredysquirrel on Aug 16, 2018 1:08 am
Posted by princessmaura on Aug 16, 2018 1:51 pm
I understand the fatigue you are feeling from the Letrozole and Zoledronic Acid Infusion...I am still dealing with the aftereffects of the chemo I underwent over two years ago...
Posted by scaredysquirrel on Aug 16, 2018 6:34 pm
Posted by Cynthia Mac on Aug 17, 2018 8:46 am
I don’t know if this will help or not, but it would be interesting to see you take your posts here on CC (just your own posts, not our input/ feedback) and paste them into a word document in chronological order. Read them the next day and see if you see it.
I do this with my writing - when I finish an article, I cut and paste it into my e-mail which changes the font.. Then when I read it the next day any typos or sentence structure errors pop out at me. My suggestion is somewhat based on this idea. You could even highlight in one colour all the “pros” you find in your statements, and all the “cons” in another colour.
Posted by princessmaura on Aug 17, 2018 12:02 pm
Posted by Dielle on Aug 17, 2018 12:25 pm
In your case, if you're note really sure about giving up on the financial aspects of your job perhaps you can try going through the rehab and talking with your company about your options. You might be pleasantly surprised at what comes up. If the options they have don't work for you, you can always quit. Just because you come back doesn't mean you are agreeing to stay for years. And in the meantime perhaps you can explore some ideas for some part-time work closer to home.
Don't get tied up into believing that you need to come back at the same level of capacity that you had before. Allow yourself the time to get used to the work again and don't let others set those expectations for you.
Good luck, scaredysquirrel. I hope you find your answers.
Posted by Brighty on Aug 17, 2018 2:32 pm
Posted by scaredysquirrel on Aug 18, 2018 4:23 pm
Dielle , that's true, nothing is forever. Realistically I only have 1.5 year to full retirement. I could go back on a gradual return and then just put in the time or not if it's too much for me. I do have that option. Like you say HR might be able to find me a desk job in another Dept. I haven't even explored that possibility. Sometimes things turn out better than you think if you keep forging ahead. Thanks for your great insight. I'll keep everyone posted.