Retirement

[Trevor 57]

well, my just over 50 years of work comes to an end tomorrow. I am officially retiring.

Might have to spend more time on FF

Intend to travel a bit, muck about with some cars and not sure what else (my wife and some friends are encouraging me to take up lawn bowls)

Might find some cash in hand part time work in a different field just to keep the wallet a little fuller

[Charliewool]

Welcome to the club Trev….
Cashies are far and few between I’ve found.
Get out and see the world is the go! It’s tick tock tick tock from here on

[Trevor 57]

Originally Posted by Charliewool

Welcome to the club Trev….
Cashies are far and few between I’ve found.

there is some available around here my friend tells me

Originally Posted by Charliewool

Get out and see the world is the go! It’s tick tock tick tock from here on

got a bit of the planned this year, overseas and local

[PG2]

Originally Posted by Trevor 57

well, my just over 50 years of work comes to an end tomorrow. I am officially retiring.

Might have to spend more time on FF

Intend to travel a bit, muck about with some cars and not sure what else (my wife and some friends are encouraging me to take up lawn bowls)

Might find some cash in hand part time work in a different field just to keep the wallet a little fuller

Congratulations Trev. You have obviously worked hard and deserve it.

Some people I know who have retired have said that they didn't know how they ever fitted going to work into their schedule.

[stock1991]

Congrats Trev, myself my plan is to work, long as I can, still have the time of my life and wish that for all you

[Trevor 57]

Originally Posted by PG2

Congratulations Trev. You have obviously worked hard and deserve it.

thanks

Originally Posted by PG2

Some people I know who have retired have said that they didn't know how they ever fitted going to work into their schedule.

I hope that is the case, or I could turn into a pest here lol

[GO FURTHER]

Congratulations Trev, and I am sure you will enjoy the benefits that come with retirement as you start to whine down after all your hard-working years!

I semi-retired 4 years ago and intend to fully retire in another 3 years.

I reached a stage in my life when I realised that I was going to more funerals than weddings or birth reveals, as friends my age started dying well before their time.

I also wanted more of a "work-life balance", after working many years in the corporate world with long hours.

The most important words of wisdom I learned from my father...

"You come into this world with nothing... During your time here, whatever you achieve, own or may lose does not matter in the end... As you will also leave this world with nothing". "Just appreciate what you have, enjoy the ride, and cherish those close to you".

Life is short and all of us only get "so many trips around the sun!"

Enjoy retirement!

[asagaai]

Enjoy retirement Trev.

I am not there so cannot give any pearls of wisdom. But without the pressures of work and having to provide and support a family-one would seem to be off to a good start to enjoy the new chapter.

[Trevor 57]

Originally Posted by asagaai

Enjoy retirement Trev.

I am not there so cannot give any pearls of wisdom. But without the pressures of work and having to provide and support a family-one would seem to be off to a good start to enjoy the new chapter.

Not sure how long the Super will last before I start digging into all those taxes I have pad in the last 50+ years

[Tassie f100]

Originally Posted by Trevor 57

Not sure how long the Super will last before I start digging into all those taxes I have pad in the last 50+ years

You are only required to take 5% of your super balance per year.So you do that and start claiming the pension to get the benefits

[AlanD]

21 years ago my employer decided that the position I held was no longer needed and offered very attractive redundancy packages to employees who "volunteered" to separate. I mentioned this to our accountant who commented that he had read a report "That for each year below 65 years that you retire you add 2 years to your life span"

A couple of calculations that showed the redundancy monies would earn more than the difference in super that early retirement would cost sealed the deal!!

Congratulations Trev - welcome to the club - enjoy the freedom or not having to worry about what the employer or client might want.

Good luck

Cheers

[LG17]

10 years ago I did the same thing.
There's times when I think how did I find the time to work and there's others when I think about something that needs to be done and next week is the right answer.
It can take a bit of getting used to but pretty soon you see everyone else going off to work and you just smile!
Enjoy it.

[buggerlugs]

Retired early 14 months ago. Same as the old man. He got 35 years in retirement, must of been good for him. Not missing a thing. Best decision ever..........

[hackney]

Originally Posted by buggerlugs

Retired early 14 months ago. Same as the old man. He got 35 years in retirement, must of been good for him. Not missing a thing. Best decision ever..........

Same here, I retired in 2019, had enough.have an exceptionally good super(PSS) Golden nest egg! Best scheme out there being a defined benefits.Stuff working anymore! Best decision ever.

[b0son]

I know there's plenty of articles on how much money you need in your super when you reach retirement age, but are there any calculators for working out how much you need before you get to retirement age? We're closing our business over the next year or so, and I'm wondering if there'll be enough to get us through.

[buggerlugs]

Originally Posted by b0son

I know there's plenty of articles on how much money you need in your super when you reach retirement age, but are there any calculators for working out how much you need before you get to retirement age? We're closing our business over the next year or so, and I'm wondering if there'll be enough to get us through.

Find yourself a good old school, honest Financial Advisor to set you straight. We found one a couple of years before we sold our business. Wish we had of found him 20 years earlier. There is so many things we were not aware of. One that works in with your accountant to............

[T3rminator]

Congrats Trev.

A tip from someone who is still way off, but have to constantly deal with two retirees.......keep yourself busy and don't drive your kids up the wall

[aussiblue]

I've been retired since April 2014. As a retired FCPA and Economist I get lots of well paying short term job offers but I really have no interest at all. The getting old is good, and much better than the alternative, but its the advancing physical decrepitness (mostly painful psoriatic arthritis) and associated lack of sleep that I find increasingly hard to take.

[Tonz]

if you live in rural areas there are friends contacts that can get you quick jobs. Don't be like me take on a volunteer and finish up working your Asse off part time.

[Itsme]

Good on you Trevor, I wish you well in your retirement, if you start getting bored you know what you need to do.

Cheers & all the best.


PS: Hmmm I've always wanted to retire early but now I don't, I want to work beyond retirement years......decisions... decisions

[mondeomatureguy]

those who have already retired good on you!

Well guy's in 3 years iam also hopefully going to be in Retirement. I will be by then 67 years old and because i love driving and photography i can mix those two things and take off in the car and my camera perfect Holiday.

I may even take my wife only if she asked nicely.

[T3rminator]

Originally Posted by Itsme

PS: Hmmm I've always wanted to retire early but now I don't, I want to work beyond retirement years......decisions... decisions

Me old boss received a massive inheritance from his late father, and retired early. I'm talking about the type of inheritance where the next couple of generations don't have to work. He lasted 6 months in retirement, and decided to come back to work. Said he needed a "purpose", and got sick of golf .

There is no rule book to say you have to retire when you have enough $$$, but it must be a bloody good feeling to know you don't have to work if you don't want to.

[buggerlugs]

Originally Posted by T3rminator

There is no rule book to say you have to retire when you have enough $$$, but it must be a bloody good feeling to know you don't have to work if you don't want to.

That's the biggie. And you have so many options if in that position...........

[Itsme]

Originally Posted by T3rminator

Me old boss received a massive inheritance from his late father, and retired early. I'm talking about the type of inheritance where the next couple of generations don't have to work. He lasted 6 months in retirement, and decided to come back to work. Said he needed a "purpose", and got sick of golf .

There is no rule book to say you have to retire when you have enough $$$, but it must be a bloody good feeling to know you don't have to work if you don't want to.

I guess I've been lucky for the last 30 years in my present job, I always have 1 or 2 days attached to the weekends where I don't work at all. Guess you can say I've been semi-retired in a sense with full time pay, now you know why I'm not in a hurry to retire.

You actually hit it on the head by having a meaningful purpose, I easily get bored with myself even though I have numerous hobbies, I guess I like the challenges from my job and the great rapport of co-workers I associate with.
As stated, decisions ... decisions, this will be my 51st year of working and I can officially retire. Decisions.....decisions as to what to do.

[Trevor 57]

Originally Posted by Itsme

I guess I've been lucky for the last 30 years in my present job, I always have 1 or 2 days attached to the weekends where I don't work at all. Guess you can say I've been semi-retired in a sense with full time pay, now you know why I'm not in a hurry to retire.

You actually hit it on the head by having a meaningful purpose, I easily get bored with myself even though I have numerous hobbies, I guess I like the challenges from my job and the great rapport of co-workers I associate with.
As stated, decisions ... decisions, this will be my 51st year of working and I can officially retire. Decisions.....decisions as to what to do.

I worked full time from home during COVID and then last year when I wasn't required face to face for anything I worked at home as well, so the tie to co-workers is almost non-existent. There is a couple I keep in close contact with, through a mutual car club, but that is it

I started my 51st year last November, I got 'asked' to leave school in November 1972

[b0son]

Originally Posted by T3rminator

He lasted 6 months in retirement, and decided to come back to work. Said he needed a "purpose", and got sick of golf .

There's no reason that purpose has to be work. Take up a hobby that you want to excel at. Without work in the way, you'll have plenty of time to work on it.

[T3rminator]

Originally Posted by thefargo

politicians can access their super when they leave office. there is no age requirement for them. I was told that by a state politician. I worked with his wife and at a social function I asked what his future plans were, as he was voted out. He didn't seem to be overly worried about finances.

This is going back about 20 years now. it may have changed but I doubt they would have made it harder for themselves.

I don't know of one politician retiring on struggle street. Don't they get something generous like 15% super, and on a fair wicket in salary too? Compound over 20-30 years, that's a HUGE difference over average Joe. Makes delaying the increase in average Joe's super very hard to swallow.

I'm not banking on the pension system to be there when I retire. I think its going to look very different in 20-30 years time.

Originally Posted by b0son

There's no reason that purpose has to be work. Take up a hobby that you want to excel at. Without work in the way, you'll have plenty of time to work on it.

I'm only guessing, but I think at work he felt needed and valued. Like if he didn't do the job, there were consequences. Personally, I think volunteer work is a good option, but some of the activities can be quite tedious.

[buggerlugs]

Originally Posted by T3rminator

He lasted 6 months in retirement, and decided to come back to work. Said he needed a "purpose", and got sick of golf .

Sick of Golf

And went back to work

Something wrong with him............

[FTE217]

Originally Posted by buggerlugs

Sick of Golf

And went back to work

Something wrong with him............

haha, yer I found that example pretty funny and its the classic "horse's for course's"......
Observations some people retirement just doesn't suit them others fall into it like a glove as they say.
Being a average hack golfer who knows his limitations - I'd say the bloke just found it too hard and thought s tuff this I'm better off back at work.
Whereas many say, your worst day at golf is still better than being in the office.
I also understand if in retirement, I couldn't bare playing 2/3times a week, like "bowlers" as well, for it would drive me nuts.
When IF the time comes soon I plan to step off the business rat race I sure will still need some kind of work/business stimulous - the mention earlier of helping out with Salvo or charity/soup kitchens etc assistance is appealing.

Anyway all the best Trevor57, it sure bares challengers ahead and adjusting but I'm sure you'll end up ok mixed with your driving hols etc and sit back and think, WGAF this is life now knocking back a ale or 6.

[MITCHAY]

That's a long stretch so enjoy it. All the best Trevor!