How do you define retirement?

**Fishindude77** · 09-20-2017, 02:24 PM

I just checked out the full time workforce about a year ago, still work a little part time. Used to work 6:30am to 6pm five days a week, and the occasional evening or partial weekend day. Pretty regularly dealing with problematic issues; anything from employee discipline to beefs with vendors to customer service issues. Also as owner and boss had a whole lot of my net worth at risk every day in the business.

Now when I do work I go in at 8 and usually go home around noon and many Weeks I don't put a full five days in. Take lots of 3-5 day road trips to see kids, etc, lots more hunting and fishing, have plenty of time to do farm chores every afternoon so don't feel rushed all the time. If I want to bail out for a week or ten days to go somewhere I do and don't have to worry.

I'm adapting pretty well and expect to soon quit this part time gig, as it's getting to be an interruption to my jacking around.

**disneysteve** · 09-20-2017, 04:05 PM

This question comes up from time to time. In fact, you asked it last year.

Saving Advice Forums

https://www.savingadvice.com/forums/general-discussion/83501-what-retirement.html

I think retirement is a time of financial independence. You can work if you wish, but it won't be because you need to money to live. It will be because you enjoy what you do and it makes you feel engaged in the world.

I used to think I'd retire in the traditional way, ceasing all work entirely, but my outlook has changed since I started working urgent care last year. I could remain part time at my current job and still make over 100K plus benefits working just 20 hours/week. I could get my 20 hours in in just 2 days. So I could theoretically work Sunday and Monday, then be off Tuesday through Thursday a week later, then work Friday and Saturday. That would give me 40 hours for the pay period, working 4 days and being off 10. I don't think that would be so bad at all. Work 8 days every 4 weeks.

**Atretes1** · 09-22-2017, 06:46 PM

If every things goes as planned my retirement will be at 55 (15 years from now). I'll have a government pension and several rental properties that will be paid off. If I keep on track I'll be making more at 55 in retirement than my working career using my pension and rental income.

As far as what will I do??? Who knows maybe travel, open a business, fly a kite....LOL. The key for this formula is it gives me the option to do whatever I want. As said above my goal is to be financially independent which will give me the choice to do whatever I want.

**prosper** · 09-22-2017, 08:44 PM

Traditionally, retirement meant that the employee worked at their job for 25-30 years, stopped working, and now is working on his/her short game on the golf course while simultaneously planning a 2 week vacation to the Caribbean islands.

In the present time, I think it can generally be defined as an individual or individuals that are not required to work to meet financial needs and where applicable, unable to mentally and/or physically work.

**kork13** · 09-22-2017, 08:55 PM

My thinking is very similar to Atretes... Basically, being sufficiently financially independent that I can do what I please with my time. That might include a part time job to keep me somewhat professionally engaged. It will likely include work for my church or other non-profits. Travel, hobbies, and doing ABSOLUTELY NOTHING will likely be a part of retired life as well. I'll do whatever I chose, and do it on my own timeline not someone else's.

I'm still anywhere from 20-35 years away from any form of retirement, though... Who knows how our society and me family's situation will change between now & then.

**corn18** · 09-23-2017, 06:29 AM

Originally posted by Atretes1 View Post

my goal is to be financially independent which will give me the choice to do whatever I want.

This is my definition of retirement. I may still work full time, but I won't have to. I will do it because I want to.

**Singuy** · 09-23-2017, 07:26 AM

Originally posted by TexasHusker View Post

I hear retirement this, retirement that, all the time. Like it's the holy grail.

What will retirement deliver that you currently do not have?

Just curious to hear everyone's take. To me, the traditional concept of retirement - leaving your job after 35 years and resting and relaxing your remaining years - seems kind of out-dated: If I was doing hard labor for 10 hours a day in a factory, emptying tray cans, fishing for lobsters, or roofing houses, I could see the appeal of walking away my last 10 years and kicking my feet up.

But today, work is so much more accommodating to our lifestyles, and has so many benefits and perks, if not social and mental stimulation, what's the rush to leave?

I am self employed, but I honestly can't see just cruising with nothing to do - I have plenty of that right now!

Hmm, after insisting that you are "retired" the past 2 years with obviously a full time job..now you are no longer "retired"?

**disneysteve** · 09-23-2017, 04:43 PM

The dictionary defines retirement as "the action or fact of leaving one's job and ceasing to work".

It's funny how people have attempted to change the meaning of the word retirement. I'm guilty of it myself as demonstrated in my previous post. I think part of the problem is we need vocabulary that we don't yet have. We need a good word for post-career work, paid employment that you do by choice, not out of necessity.

"Semi-retired" doesn't really fit because that is usually taken to mean that you're working on a reduced basis, but there are some who say they are retired even though they are working full time at their current job.

Strictly speaking, if you are working for pay, you are not retired. It doesn't matter if it's full time, part time, consulting, or per diem. If you're working, you're not retired.

**scfr** · 09-26-2017, 07:06 AM

Whether it fits the precise, literal definition of retirement, my goals are:
- DH shuts down his business (major loss of income, but also elimination of the high risk that comes with it ... also the freedom to be away from cell and internet coverage, which opens up travel options)
- Work for pay optional (won't be full-time, and won't be year-round)
- Current volunteer work upped to serving on the board of at least one non-profit
- Increased time for current leisure activities, plus trying out some new ones to see if they are a good fit

Here are 2 more that may happen before retirement:
- Possible relocation (TBD)
- Condo instead of single-family home

As we get closer to retirement, the more I am envisioning a "2 condos" scenario, possibly in 2 different countries.

Also, it is likely that our pet-loving home will become pet-free at some point in retirement. Before we adopted our current dog, DH and I discussed the likelihood that our current dog may be our last. She will hopefully live until we are in our mid-to-late-60's.

**Captain Save** · 10-01-2017, 03:40 AM

I really don't care about retirement. I care more about being Financially independent and doing what I want. This is why my focus is on my business. The plan is to work hard and establish my business as a well oiled machine so that in 10 years or less, I can focus on my children, my family etc.. when I"m 65 and been in the buisness for 30 years.. It's easy to get clients, friends and children of former client are easier to come by. I don't have to spend too much energy prospecting. So my business income is a major contributor to my "retirment income"
I do think most people will have to come grips with the fact that they can't completely stop working. I think it's happening now. The fact that people are living longer makes it harder to retire in your 60's

**disneysteve** · 10-01-2017, 04:59 PM

Originally posted by Captain Save View Post

I do think most people will have to come grips with the fact that they can't completely stop working. I think it's happening now. The fact that people are living longer makes it harder to retire in your 60's

Reality says otherwise. Lots of people say they'll continue working on a reduced basis after leaving their careers but in actuality, only about 25% of people do. There are various reasons for that. In some cases, medical issues make it impossible. For those who actually want to work, finding a job in your 60s can be nearly impossible.

Just this morning, I spoke with a woman who is in her early 60s. She "retired" because she couldn't get a job worth doing. Potential employers weren't willing to pay what she was asking for because they preferred to hire recent grads willing to do the same job for a fraction of the pay. Now her husband, who is already 65, is stuck continuing to work to maintain health insurance for her until she turns 65 and gets on Medicare her self.

I've spoken to many people who have found it difficult to find anyone willing to hire them in their 60s.

**GrimJack** · 10-01-2017, 08:53 PM

I am a seasonal employee and have been trying to be semi-retired for the last couple years. What was once a January to June season has morphed, some years I was not furloughed at all and this year I did not get furloughed until Friday (9/29/17). I work customer support and I love my job when I am on the phone but hate it as soon as the call ends - fortunately, there is almost always another call immediately. But the intensity is draining; I work ID theft 2 days a week and 'regular' calls 2 day and appointments 1 day.

I am giving up and will start the process of winding down. I am putting a deposit down on prior work to increase my years of duty from 8 years to 12 (I've lead an 'interesting' life so this is the longest I have stayed in one job ever.) I have about 3 income streams currently and that will go up to 5 when I actually retire. I have to wait until the years are actually in place before I know what my retirement will be. I am single (well, I have a cat), 69 and think retirement is not having to deal with a fixed schedule and having time to travel.

**rob62521** · 10-02-2017, 01:06 PM

Interesting posts. I worked in education for over 30 years. I looked forward to retiring because teaching simply wasn't enjoyable...between what the feds and state are requiring as far as testing, the fact most parents don't know how to parents and schools have become social agencies to do their jobs, and the fact we have legislators who think they know more about education than educators do...we basically have students graduating who aren't marketable and cannot basically take care of themselves and feel they must be entertained. My job wasn't flexible. I was expected to be there at a certain time and couldn't leave before a certain time, and no vacations except when schools was out. If I had a doctor's appointment, I had to use sick time and it was either in half day or whole day increments. I know this sounds incredibly negative, but it was very stressful and became more so as the years went on. I was fortunate to have a job that had benefits and a pension that both I and my employer paid into. But, I was ready to retire, as in not work anymore, for money.

For me retirement has become such a blessing and joy. I volunteer and help others. I can choose what I wish to do. I planned for retirement by saving money and I still save money and it is far easier now that I don't have to go to work each day, I can choose to go grocery shopping on Thursdays when the ads come out and not deal with things being unstocked. I can take advantage of some of the early bird specials.

But as some of you have said, some are redefining retirement. I know someone in her 30s said she retired and I asked how she did that. Well, it basically was she quit because she didn't want to work anymore. Fortunately she has someone who is working, but I'm not really sure that is retirement.

**Captain Save** · 10-02-2017, 03:20 PM

Originally posted by disneysteve View Post

Reality says otherwise. Lots of people say they'll continue working on a reduced basis after leaving their careers but in actuality, only about 25% of people do. There are various reasons for that. In some cases, medical issues make it impossible. For those who actually want to work, finding a job in your 60s can be nearly impossible.

Just this morning, I spoke with a woman who is in her early 60s. She "retired" because she couldn't get a job worth doing. Potential employers weren't willing to pay what she was asking for because they preferred to hire recent grads willing to do the same job for a fraction of the pay. Now her husband, who is already 65, is stuck continuing to work to maintain health insurance for her until she turns 65 and gets on Medicare her self.

I've spoken to many people who have found it difficult to find anyone willing to hire them in their 60s.

I'm pretty sure you're right. on that one. My girlfriend's mother is dealing with that now. While it is true that she really should not be retiring .. she's being forced to retire because of the job market. She can probably get a part time job at a reduced rate somewhere.

Another reason to find a profession that you could do well in your 60's and 70's .. or maybe a "side hustle" .. but you have to start early.

As far as health concerns.. I really have no answer on how to tackle this issue. There is not a single solution that really solves that problem. There are so many gaps with insurance. I know some people preach Long term care insurance but it's so expensive and though I don't know much about it.. i'm sure there are plenty of gaps.

How do you define retirement?