Retirement

[CoachT]

I am contemplating retirement but it is not an easy decision, in many, many ways. I have 30 years of teaching in Tennessee and am now 55. Those of you who have thought about this, or have already retired, what have you concluded or experienced?

[KEV-O]

cant help you on this coach but what ever you do i hope it makes you happy. /smile.gif" style="vertical-align:middle" emoid=":)" border="0" alt="smile.gif" />

[CoachT]

A financial question: (If I draw retirement and SS leveling then I will make a few hundred dollars less than I do now)

 

I can take social security leveling, I think it is called, which allows me to take social security now instead of waiting until I am 62. The earlier you do this the more sense it makes. The amount I draw between now and 62- it would take me from age 62 to 71 to draw that same amount. In other words, if I knew I would live past 72 then it would be better to wait until I am 62 to draw SS. However, there would be no raises in SS if I did this, except maybe cost of living increases.

 

My question: (maybe for Solomon) is there a limit to how much income I can make on top of the SS if I take it this way?

[VolunteerGeneral]

My dad tried retirement about 20 years ago and couldn`t stand it. Absolutely had nothing interesting to him to occupy his time. Now he`s 72 and still works everyday. But he`s happy doing it. I think the important thing to ask yourself is will it make you happier?

[Solomon]

A financial question: (If I draw retirement and SS leveling then I will make a few hundred dollars less than I do now)

 

I can take social security leveling, I think it is called, which allows me to take social security now instead of waiting until I am 62. The earlier you do this the more sense it makes. The amount I draw between now and 62- it would take me from age 62 to 71 to draw that same amount. In other words, if I knew I would live past 72 then it would be better to wait until I am 62 to draw SS. However, there would be no raises in SS if I did this, except maybe cost of living increases.

 

My question: (maybe for Solomon) is there a limit to how much income I can make on top of the SS if I take it this way?

 

 

Hmmmmm.....I don't know off the top of my head.

 

Let me check on Thursday when I get back to the office and I will let you know if I find anything.

[clintabbott]

CoachT- I've been retired since June 30, 1995. I've piddled and gone back to work a couple of times and it has worked well for me. I believe the amount of money you can earn and draw SS is $12,960 this year. It goes up a little every year. I hope this helps and I wish you the very best in what ever you decide.

[Antwan]

My dad retired at 60 and loved every minute of his retirement until he died at 77. He had his post retirement routine.

It does depend on the individual. If you have enough money to enjoy retirement...it can be a great thing. It was for him. I have a while before I will make that decision. It is a life changing decision. I really think a person should make that choice and never look back.

[15 NWTF 08]

I remember when my Grandfather retired, it drove him crazy because he was not working. He then went back to work 3 days a week, he loved every minute of that. When he passed on, he was buried in his work clothes. It really does depend on the individual. But best of luck in whatever you choose coach. I'm sure you'll have more than enough things to keep you occupied.

[cav-o]

I am contemplating retirement but it is not an easy decision, in many, many ways. I have 30 years of teaching in Tennessee and am now 55. Those of you who have thought about this, or have already retired, what have you concluded or experienced?

 

My father is the same age as you and I WISH he could be contemplating retirement, alas, I'm an expensive offspring. HA. Anyway...my father got a new job like back in the summer and it's given him a new lease on his career. My parents have worked so hard and I know it might be cliche, they're my heroes for giving up so much for me. They could kicked me out at age 18 and said get a job and put yourself through college. Without their help and the guidance of God, I'd never EVER be where I am today.

[CoachT]

My father is the same age as you and I WISH he could be contemplating retirement, alas, I'm an expensive offspring. HA. Anyway...my father got a new job like back in the summer and it's given him a new lease on his career. My parents have worked so hard and I know it might be cliche, they're my heroes for giving up so much for me. They could kicked me out at age 18 and said get a job and put yourself through college. Without their help and the guidance of God, I'd never EVER be where I am today.

 

That is another of my considerations. Mark has three years to go, maybe longer, to finish his pre-pharmacy and pharmacy school. Katie is graduating high school this spring. Two in college at the same time. Our goal has always been to get them through school with no student loans and we have done that so far, for Brynn and Mark. Not sure if we can from here on or not.

[dandy82]

That is another of my considerations. Mark has three years to go, maybe longer, to finish his pre-pharmacy and pharmacy school. Katie is graduating high school this spring. Two in college at the same time. Our goal has always been to get them through school with no student loans and we have done that so far, for Brynn and Mark. Not sure if we can from here on or not.

 

 

 

Heck, if you can swing it, retire.....It's not as if you don't have a great hobby /thumb[1].gif" style="vertical-align:middle" emoid=":thumb:" border="0" alt="thumb[1].gif" /> or will be bored.

[CoachT]

I think of all of the things I could do to improve this site and the Alabama one, given the time. Visiting schools, contacting coaches, going to practices, etc. I also know that I have been least productive, in the past, when I was off in the summer.

 

Finances are the biggest concern. The income from CoachT.com is so sporadic it is hard to know what the next month will bring. Plus memberships would be the most reliable but there are way too few of those to fund retirement.