Getting close to retirement and trying to learn from this wealth of experience. When is the right time to retire?

by John

I'm 62 and keep telling myself to retire at the end of 2020. Or even 2019. Financially, I think my wife and I are in good shape and could walk out today.

I struggle with "when is enough...enough?"

Certain days at work I want to call it quits and be done with it. Others days, it's not bad. I just don't want to leave a job and find myself bored silly because I didn't plan ahead.

Just bought oceanfront condo that I have convinced myself will be a great 2nd home to go to whenever I want. My fear is that even that may get "old" for me.

Outside of health issues or being asked to leave, when did you know it was the right time to retire?

Comments for Getting close to retirement and trying to learn from this wealth of experience. When is the right time to retire?

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by: Pete, New Jersey

When your passion for working for compensation is less than 100%. When you are old enough to qualify for entitlements, but young enough to now have time to embrace other life interests.

I worked for 45 years, since college, in my primary career choice. Now retired, I am a perpetual freshman at Retirement University. What a curriculum. Just about anything I want to study without the pressures of exams, term papers, cranky professors and GPA concerns.

Life is a continuous learning experience.

Wendy: I just HAD to bold that... so perfect! Retirement IS a journey, not a destination!

Doing it this week!
by: Laura in Vermont

I'm retiring at the end of this week with 30 days notice in writing. Since I am leaving on good terms I told my boss three months ago and we were able to hire a replacement so I could train her and transition the clientele over to her. With a mental health agency, that's the right thing to do.

I knew it was time several years ago but couldn't do it for financial and health insurance reasons. So I spent the time planning what to do with myself when I did retire and now my calendar is filled through October!

Well, not totally. I do have to lie in the sun a bit, right?

When is enough enough
by: Nancy

I always did intend to retire when I was 62 so I could collect social security. My husband, who is 2 years older than me, retired when he was 55.

He was quite happy being retired. I used to hate to go to work when he was going somewhere during the day and I couldn't join him. I applied for retirement at work 3 months ahead of the time, and after I wrote my letter of resignation, the State pension office called and said they had made a mistake, and I wasn't eligible yet to collect my pension.

I thought about it briefly then decided to go ahead and retire. Not to get into religion here, but I felt over and over again, that retiring was what God wanted me to do. And it was really hard adjusting to retirement, but who knows what might have happened if I continued working.

I'm talking about traffic accidents as I was on the road much of the time.

Get on your mark
by: Sherry/NC

I was 66 and just knew it was time for me!! I could get
full retiremen! I gave a professional written resignation and the President of the company said; that was different most employees get mad and quit!

I got mad several times, but worked it out with myself
to be professional and retire my way, professional! I am
glad I did it my way!

I was in charge and no one else!!

Hobbies is what is needed
by: John

Thanks for replies. Michael nailed it in that I need to find hobbies or something that motivates and excites me. I run, bike and go to gym, but it doesn't give me that same sense of accomplishment that work brings.

After 40 years of deadlines, negotiations, stress etc, there is this "weird" part of me that feels like I will miss it and be bored without it. As many have written, it is trying to find a purpose. I thought this retirement thing would be easy. :)

Re: When is the right time to retire?
by: Anonymous

Hello John,

A difficult question, more so now that I am on the other side a year or so younger that you.

Leaving a burnout job several years after I should have, it takes a while to detox. Once detoxed, and working down delayed to-do lists and projects I never had time for, I find myself wondering if I should have strung it out a little longer.

This is only for financial reasons-you'll find out what my dad always said after retiring" " I don't know how I ever found time to go to work". He unfortunately only made it to 74. Which is my moral of the story-if I run out of money, I'll have lived a much longer life than projected.

Ask yourself- What will I do when I retire?
by: Michael D. Bell, REALTOR®, Venice Florida


I think the question that you are really asking yourself is "what will I do when I retire?" And, that is an important question to ask yourself. You might want to spend more time on hobbies that you enjoy, and find some new ones. Or, you might want to have a part-time job in retirement - maybe even at your present employer.

I retired at 51, and am now 53. I moved from New Jersey, and live in Venice, Florida where I got my real estate license. In addition to selling real estate, I enjoy 40+ mile per day bike rides.

The right time to retire is different for each person. The biggest thing I've learned is that even though I no longer need to work for money, I still want to explore new things and be involved with life.

I asked the same question!
by: Wendy, retirement enthusiast

Maybe that's part of WHY I became a Coach... I had asked retiree after retiree, for maybe five years, as I helped them with Retirement paperwork:

"How do you know it's time?"

I kept telling people: Will a little Retirement Fairy tap on my shoulder, and whisper. "Hey, It's time!"

Oddly enough, I only gave 2 weeks notice, it was the right timing. I had known for 30 years I'd give a month notice, and suddenly I did not do that! I needed to retire, like now.

PLEASE read a few of the posts on my ABOUT ME page... I documented the decision and the point where I walked away. Just might put it all into perspective -- we all do it differently, but it might help in some way!

P.S. I've written elsewhere about "when is enough enough?" and the answer is 1) never, 2) nobody will ever know until life plays itself out.

You could retire with solid finances and the stock market burps. You could retire with solid finances and make great investment income. You could need assisted living early, or never. Even a financial planner cannot predict the future. They can guess, based on history, but they don't know...

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