Do You Plan on Working After You Retire?

No, that's why they call it retirement.

If I work I will do it only on a volunteer basis for something I believe in or feel passionate about. I will not adhere to or be subjected to a work schedule. Nor will I be depended upon by others to be at work or working. I've worked full time every year since I was 13 years old. My parents were poor and we needed the money.

Since I'm not rich, retirement for me is the ability to control what I do and how I do it. Of course, all within my financial means; therefore, my choices do have limits. I suspect there will always be "have to" stuff I need to do, but, I am adamant and steadfast I will never chase dollars again. Yes, with careful planning, I've saved enough to make my new reality come true. I want to spend my remaining days as an adolescent adult with a carefree enjoyment of life, a reawakening. Yup, life is short and getting shorter.

In January, 2015 my Hub and I went to our Financial Advisor to discuss him upcoming retirement in April 2015. Hub was not convinced we could manage our finances even with our savings. FA convinced him it was doable! It is almost 3 years now and we at chugging along. Just can't wait to get OFF ACA. Then we can withdraw some more income from our investments. I am thinking like 3.25% a year as of 2019 withdrawal rate. Will be off ACA as of August 1 2018. Don't think we can take out more moola without jeopardizing our ACQ subsidy.

Alan E. - I agree completely! I plan on giving up my professional licenses right after retiring (February!) too. Why pay to keep them up, when I have no intention of going back to my high-pressure job? I'm surrounded by older co-workers who are terrified about having enough money to retire. Some of them are supporting late-in-life second families, and can't retire. Some of them are supporting older "kids," and a few have admitted they just don't want to be home with their spouses (so sad). Some of them say they just don't have enough money to retire because they couldn't save earlier in their careers. There are a lot of reasons why they are continuing to work.

I see co-workers dealing with high blood pressure, heart disease, cancer diagnoses, and other illnesses associated with stress. Every time I get up early in the morning, aching and stressed out about work, drive in stop and go commuter traffic, and spend 10 hours sitting behind a desk, I recognize I'm putting my health at risk for a paycheck too. Personally, I don't need to go on an annual cruise or pay golf club memberships. I don't want my kids to think of my money as "their" money. I've got enough to meet my humble requirements for the next 25-30 years, if necessary. Yeah, it was very nerve-wracking when I gave my boss notice that I was retiring. It's stressful to go through the Medicare and COBRA stuff, and I'll admit that I'm going to miss a salary. But I don't plan on ever going back to work again. Never, never, never.

Been happily retired for 6 years from a stressful and time consuming teaching career. Never been happier! I absolutely loved being involved with kids however and do miss that interaction as my grandchildren are not nearby. But, now I can read for hours, and not children’s literature! I can go out to lunch, not quickly eat from a brown bag before my class returns from the cafeteria! No more endless parent emails, correcting papers and planning on the weekends, meetings, meetings, meetings, or crushingly long report cards to do! Work again? Heck no!

Absolutely I will never go back to the type of work I had before. If I find something I think of as fun--then okay. My job was eliminated and it was already a conversion from my stressful nursing career. I was working for a church as an administrative assistant and assistant to a new Rector from England. He reorganized the parish and decided that he needed an accounting professional more than an Administrative Assistant. My last day was Nov 30 with a wonderful send off luncheon in a high end restaurant with gifts and a great reference letter. They told the parishioners that I was retiring--which I did not feel I was. So since then I have been living on a severance package I was given which may last until the end of March if I am careful. By then I need to decide if I want to draw my SS early--I will be 63.5 and just enjoy life with my modest savings. I will be on ACA for insurance or on a healthcare co-op. So many choices to make! A part time job may do very well to supplement my income--if it is fun and I wake up wanting to do it. This year in December, I was able to enjoy a full social life, decorated the Lobby Christmas tree (12 feet), and do small chores to help my neighbors. I must admit it is nice not having to go out in the cold weather. I still arise at the same time every day 5AM, but I am searching for jobs that seem off the beaten path. Cool Works has some possibilities....life is relaxed while I make my decision. I am finding one does not need to have a huge savings to retire...just one that will meet your needs.

In 2013 my husband and I relocated to Virginia Beach. He has been retired since 2006. I continued my nursing career at a new job. The new job was not a good fit and so I left. My plan was to return to work in the fall but we had some opportunities to travel , so work was pushed to the side. After 45 years of nursing I do not miss it. I do not miss getting up at 5am and having to battle the elements. I do volunteer work now and set my own schedule. The freedom to do things spontaneously without a work schedule is great. The past 4 years have been dress free and happy.

I retired at 61 and have taken art,dancing, fitness classes and tried out a number of activities. I renovated my house, and I still volunteer at 2 organizations. At 67 I had the opportunity to work 4-8 hrs a week at a local community college as part-time faculty. I discovered that I missed the random social interactions I’d experienced in my former life-long career. I love helping students and it helps me to use the knowledge and brain power that I had acquired in my previous work. The pay is excellent and gives me a little pin money. I have amassed quite a bit in my IRA so when I turn 70-1/2 the RMD I’ll need to take will probably mean that I’ll need to quit my job (because of higher taxes). I won’t need the extra income and I may feel differently about working. In the meantime I’m enjoying it and I still am able to take 2 big trips a year. I have no stress and am loving my life as it is now. It’s important for me to find something meaningful to do and right now working fits.

I retired last year and have been going to school for Travel and Tourism. Will start an online travel agency soon. Will let you know how things go.

I am leaving my job at 64 and going into business for myself. Hopefully it will tide me over until I am 70.

The last 8 years were so brutal on my retirement investments that I may be working until I die. Thank goodness, the stock market and economy is now booming and I pray it continues. I left my high stress job when I was 62 and started teaching in an inner city high school. It is great to give back.

After retiring from a high stress, long hours, pressure packed IT career I settled in to a 55+ community, learned to golf, volunteered and still got bored. Recession hit and I was nervous about outliving investments. I started offering computer assistance services in my community and soon found myself back to a full time job...word of mouth and community newsletter ad. Self employment meant I could take off when wanted/needed and craft the job I wanted, now I'm working about 20 hours a week....life is good. In our 55+ community a wide range of services are provided by residents who have retired and now supplement that income putting their skills to work: accountants, handyman, painter, electrician, home watch service, landscape design, seamstress, interior design, HVAC evaluation, tax prep, PT, realtor, pet sitters, airport runs, plumbing, contractor projects, car detailing....seems endless. Everyone is able to charge under market pricing due to low overhead, if you do good work...you're set!

DeyErmand, when will you turn 64? What kind of business do you have in mind? I hope this works out for you!

I'm working part time as a consultant since retiring two years ago. (Is it technically retirement if I'm still working? I say, yes, because it feels like I'm no longer working.) This is the crème de la crème. I set it up so that I only do the part of my job that I enjoyed most during my full-time career, but can now work at my own pace, on my own schedule, in my own fuzzy slippers, sometimes from home and sometimes while traveling, AND I get paid for it! Heaven!

The difference between a full time career and part time consulting is akin to the difference between parenting and grandparenting. Parenting is 24 hours of responsibility, your underlings aren't too crazy about most of your decisions, there's lots of good, a fair amount of not so good, plus plenty of stress. Grandparenting comes in short bursts, demands little responsibility, is almost all good, and imposes little stress. Also, in both cases the people you "work for" adore and appreciate you!

With luck, my consulting gig will continue another five years. If not, I'll be happy for however long I have it.