# Have You Really Considered All Of The Risks? Is It Worth Working Till You Max Out ?



## Skyking (Jun 4, 2015)

What if I told you that you were going to have a stroke that would leave you partially paralyzed before the age of 70, would you reconsider your retirement age? Of course you would. What about 71 years old...what about 72...73, 74, 75, 76, 77, 78? At what point do we say "Nope, working till 67 isn't worth it, I'm going to enjoy what little healthy time I have left, even if I barely have enough to cover expenses?" 

Yes, we have to keep the lights on ($), but I see so many soulless discussions of how to grab a few more dollars and little consideration given to physical and mental health, fun, peace of mind. What say you?


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## Falcon (Jun 4, 2015)

Yes.


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## Glinda (Jun 4, 2015)

Skyking said:


> Yes, we have to keep the lights on ($), but I see so many soulless discussions of how to grab a few more dollars and little consideration given to physical and mental health, fun, peace of mind. What say you?



Exactly.  None of the "expert" advice takes that into consideration.  It's one thing if you love your job and want to work.  It's quite another if you're stressed out and  hating every minute.


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## Capt Lightning (Jun 5, 2015)

I had always planned to retire at 56 NOT 65 because by then I reconed that the kids would have left, I would have enough savings and a big enough pension to live modestly.  This is what I did, and although the credit crunch messed up my savings and investments, I still had enough.   

Unless you really, really love your job or you need to earn the money, my advice is to retire and enjoy yourself for as long as you can. I've known a few who've worked as long as they could, and died shortly after retiring.


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## Bullie76 (Jun 5, 2015)

Capt Lightning said:


> Unless you really, really love your job or you need to earn the money, my advice is to retire and enjoy yourself for as long as you can. I've known a few who've worked as long as they could, and died shortly after retiring.



This. I retired at 53, no regrets.


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## Son_of_Perdition (Jun 5, 2015)

Great thread!  I took my retirement at 64 (2009), hated my job, knew something was wrong healthwise.  We lived in a small town 25 miles from the nearest major hospital, my family doctor had a great bedside manner but missed a few problems.  We sold our house moved to another state in a much larger city with qualified doctors and clinics as well as a newer major hospital with all the latest equipment.  2011 major health issue, followup surgery and treatment.  Can only guess that retirement and the move saved my life.  6 years later I never regretted my decision.  Took an initial $500 hit on my retirement income because of how SS and pension were figured I would be losing money each year anyway.  It was a wash and don't miss one thing about my prior existence.

A co-worker waited until he was 67 before retiring, 56 days later his youngest was getting married, after the wedding my co-worker dropped dead of a major heart attack.


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## Don M. (Jun 5, 2015)

I've always felt that a person should retire as soon as they are financially able.  Give the younger people the job.  Plus, as S of P said, what good is retirement if a person doesn't live long enough to enjoy some good years without the job stresses.  I bailed out at 59 1/2, and enjoyed my job....but I wouldn't want to go back to that routine for twice the pay.


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## Ken N Tx (Jun 6, 2015)

Capt Lightning said:


> I had always planned to retire at 56 NOT 65 because by then I reconed that the kids would have left, I would have enough savings and a big enough pension to live modestly.  This is what I did, and although the credit crunch messed up my savings and investments, I still had enough.
> 
> Unless you really, really love your job or you need to earn the money, my advice is to retire and enjoy yourself for as long as you can. I've known a few who've worked as long as they could, and died shortly after retiring.



...In my 7th year of retirement and enjoying every minute, even during my naps!!


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## LogicsHere (Jun 6, 2015)

Knowing something is going to happen at a stated age is one thing, but how many people are clairvoyant?  Yes, one should take into consideration how well you've taken care of yourself as well as your family's history.  If most are gone by the time they're 70 that's one thing, but on the other hand, what if you have 7 on both sides of your family who have lived to age 88 to 101? True when you get to a certain point in your life most people have health considerations but you can have health considerations when your in your 20s and 30s too.

In some cases, it has to do with do I have enough to retire without having to become dependent on government programs, why retire if your income at that point doesn't cover your expenses or is just at breakeven?  Do you take your 8 Ball and ask it, if the next lottery game you play will give you the financial security you need?

Yes, I have done well with my retirement savings, however, the stock market can fall out at any time and then you're in trouble. There are more considerations than just toss the coin to the wind and going for it. If that's right for you then go for it.  But if working the extra couple of years will help you stay solvent into your 90s then I say risk it.  Life is a gamble and it can be over at any time, not just in your 70s as your scenario suggests.


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## Skyking (Jun 6, 2015)

"Life is a gamble and it can be over at any time, not just in your 70s as your scenario suggests."


Yes Logistics,  life is a gamble as we are constantly dealing with unknowns.  My 'scenario', like yours, suggests 'unknown' factors. Your unknowns  are financial unknowns and my scenario suggested health and life unknowns. So again, the question I propose is... which 'unknown' trumps which when determining a retirement date and why. There is one unknown however that we can be certain of, that being, that everybody has a finite number of days on earth.


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## ronaldj (Jun 7, 2015)

retired at 58..took a part time job at 60.....no regrets have time for the grandchildren and lots of time for me....and comic book money from the job


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## Lon (Jun 7, 2015)

I loved my career but love playing even more and so I packed it in and retired at 55. _It's been a fantastic 25 years so far._


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## LogicsHere (Jun 7, 2015)

Financial security is the primary factor in my retirement decision. Back in the 60s when the creature called a "bag lady" came into being I decided that it wasn't going to be me. And the fact that I do have longevity in my family on both sides, being financially secure has to be the first consideration.


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## Warrigal (Jun 7, 2015)

Effectively I retired at 55 although I did continue with a few short term jobs where I could work flexible hours. 

My reasons were twofold. 

Firstly I had three old ladies who were needing someone to be more available to them. My mother, her spinster sister who lived with her, and my mother in law were all becoming infirm and needed to be escorted to their medical appointments and I considered it to be my privilege to be that person. I had taken on the duty of managing the finances of Mum and Auntie and  after a lifetime of their looking after me, it was time to close the circle.

Secondly I was a teacher and always said that I would go on teaching as long as I was having fun. The fun disappeared all of a sudden and I realised that it was time to go. That was hard but necessary.

I'm 72 now and have become quite arthritic in the last 2-4 years. I'm very glad I retired when I did because it has been a very rewarding time. If I had only just retired around five years ago I would have cheated myself of some of the best years of my life.


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## QuickSilver (Jun 9, 2015)

Then there are those of us who ENJOY working.. and not just the money.  I could have retired last year, but the though of it depressed me.  I'm healthy and enjoying my last few years of being productive.


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## Kitties (Jun 9, 2015)

I'm looking to semi retire soon. It's hard to give up a good paycheck but I'm not working like this for 7 more years. I'll take social security at 62. I may apply at Walmart soon.


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## Busy Bee (Jun 9, 2015)

My husband died at 60 with his retirement papers on the kitchen table. I retired at age 55 because of health reasons. 13 years later I am glad I retired when I did even though it cut my pensions a lot. I think the key thing is not having any debt when you retire. You are a long time dead so be kind to yourself while you are here.


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## Cookie (Jun 9, 2015)

At one place I worked, a man suffered a fatal massive heart attack on the exact day he retired as he was leaving work and heading to his car in the parking lot.  How's that for ironic.  I remembered that when I took early retirement, even tho it left me with less money than I had hoped to have.


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## Kitties (Jun 9, 2015)

Money vs. the time you have retired. It's really something to consider. I think I'd rather have the time a live a little broke. Have to cover the essentials of coarse, like a home. And for myself, the cats.

So sorry for your loss Busy Bee. And I agree with you about the debt. 

Lucky I have no debt at this time. Never really have had much.


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## Letty (Jun 10, 2015)

kitties, busy bee and cookie--I really think after your posts I did the right thing-early retirement.
the only debt I have is my husband`s care-they will have to wait until he`s gone for his life insurance I`m enjoying spending more time with my parents-89 and 90, and sister, 65.


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## muckferret (Jun 12, 2015)

Same with me Ken T now 11 years into retirement, i live alone of the beaten track and a 100 klm in either direction to a major hospital so had an alarm system with pendent installed but what the hell many people die in there sleep so that renders the system useless unless you have a problem during the day, the beauty of retirement is you answer to nobody the time is your own to do as you please with it and that includes the granddad naps after lunch yipee.


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