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bobmielke
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bobmielke is offline
Portland, OR
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01-02-2010, 11:17 AM
1

Early Retirement

I'm 60 right now with my birthday this May. My employer, Intel Corp. has announced the shutdown of my plant on June 30, 2010. That's only about 5 months from now. They gave the notice last January so I've had plenty of time to make my decision to retire about a year early.

I moved into a tiny apartment to cut my rent by $310 a month. Of course that also saves on the utility bills. I purchased a scooter that gets 67 miles per gallon of gas and a Smart car that gets 38 MPG. I've canceled all magazine & newspaper subscriptions and cut my cable service to a minimum package.

I am a military veteran and will be eligible for medical coverage after leaving my job. I have a physical exam within a week and will get my doctor to write new prescriptions for my medications that are all generics so that I can afford them.

I have purchased all the toys necessary to enjoy myself once retired. I have new camera gear & accessories as well as 3 up to date computers and software. I realize once retired I won't qualify for car loans so my vehicles are all paid for and new. I have no monthly payments other than the $535 rent.

I have three hobbies; motorcycling, photography & computers. I'm so passionate about all three that I don't plan on being bored with something to do. I live in the beautiful Pacific Northwest with more than a lifetime's work of photographic opportunities surrounding me.

I've worked for 42 years and am in reasonably good health. That will take a high priority as there are no longer any excuses to not stay active physically once retired. The apartment complex where I live has a complete workout gym as well as a heated swimming pool & spa.

The idea of retirement is both exciting and frightening at the same time. Wish me luck as that date draws closer.
buzzie
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01-02-2010, 12:45 PM
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Re: Early Retirement

I have a feeling you will adjust quite well. I thought it would be terrible and it wasn't ....as long as you have enough to do.

You certainly have thought it out well and cut back so you can enjoy life. If you are in the states, meant to look, you have to wait two more years to receive social security early and it looks like 66 may be the age to get full pay. When I retired, I went with 62 and since I am still very healthy, I think I am ahead of the game but sure didn't know then.

I've heard people say 'Seniors have a hard time making decisions' suppose so, but the decisions are harder to make because each and everyone has no knowledge of what is ahead for us. Don't think I want to know either
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Mags
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01-02-2010, 01:11 PM
3

Re: Early Retirement

I wish you all the best for your forthcoming retirement, Bob - you have certainly thought it through and are more than prepared for it.

I hope you have many years of heathy life ahead to enjoy all your well chosen hobbies.

Good luck!
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nero
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01-02-2010, 02:01 PM
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Re: Early Retirement

Good luck in your retirement Bob, . . I'm in my 13th year of retirement and it's great, . . as you say, you have to think about your expenditures and you seem to have it all in hand mate.
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01-02-2010, 05:34 PM
5

Re: Early Retirement

It sounds like you are in for an enjoyable retirement Bob. Embrace it I'd say. I think it would only take me about 2 hours to get used to a way of life like the one you have described.

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dandysmom
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01-02-2010, 09:26 PM
6

Re: Early Retirement

You seem to have it all very well organized, Bob! I retired early (63 1/2) as I just could not take working any more and have enjoyed a very happy retirement; never regretted it. And as Buzzie said you will get your Social Security soon if you don't plan on waiting till 66. I couldn't be without my papers or magzines, though!
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01-02-2010, 10:39 PM
7

Re: Early Retirement

Enjoy your retirement and new found freedom when it arrives. When I took it many said I would be bored...just not true-you're only bored if you let yourself be bored. From what you say you have everything well worked out so good luck to you..........
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bobmielke
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01-02-2010, 10:45 PM
8

Re: Early Retirement

Originally Posted by dandysmom ->
You seem to have it all very well organized, Bob! I retired early (63 1/2) as I just could not take working any more and have enjoyed a very happy retirement; never regretted it. And as Buzzie said you will get your Social Security soon if you don't plan on waiting till 66. I couldn't be without my papers or magzines, though!
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