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WestyHokie
Joined: 07/10/2002
Posts: 24,427
Likes: 10,450
WestyHokie
Lifetime

I actually started a Substack on "semiretirement," I semiretired in '22

I had planned to work for 3 more years, but I had to choose between family and work and the choice wasn't hard. We already had a budget, and moved to a cheaper part of the country (bigger house, at 2.5%). Both kids are still in college (one finishing this semester, knock on wood) but we had saved for that, and they have to pay half-ish. A few things I have learned: - The mental part is tougher than the financial part. No matter how many projects you have to do, or TV shows you want to finally watch, you will eventually finish them or lose motivation to do so. You will get bored and have to avoid a rut. - Consulting is cool when people want you, it is a pain when you have to sell yourself. - Volunteering is awesome. I've been volunteering at a horse rescue for 2 years, and teaching English online for almost a year. I start at another farm animal rescue next week. - I miss "fun money." Our budget is solid, and we planned well (and will be even better off when the kids graduate college and are off the family plan). But there isn't a lot of money to do really cool stuff. A driving trip around the region? Sure. A week in Cayman? Not really. - Home maintenance cans stress your budget. Sometimes a bunch of things need to be fixed at once. Over time it evens out. In the moment, ugh. I'm taking SS at 62, even aware of the 8% per year impact of delaying. I'll be lucky to live to 80, and who knows how badly they are going to screw SS up over the next few years. If you have any questions, fire away.
Posted: 02/26/2025 at 02:25 PM ET
(In response to this post by JoesterVT)

Thread Replies (67)

Full Thread →
Retirement musings...what are people thinking?
JoesterVT • 02/26/25 08:21 AM ET
Did similar math near end. When I was barely besting minimum wage to work
ColoVT82 • 02/26/25 04:56 PM ET
I'm a Fed...and I love the work I do...and the agency I do it for.
great2bahokie • 02/26/25 03:13 PM ET
Is it too Gen-X of me to say that as a 47 YO I would have retired yesterday
Victory Ticker • 02/26/25 03:04 PM ET
I actually started a Substack on "semiretirement," I semiretired in '22 ◄
WestyHokie • 02/26/25 02:25 PM ET
We're taking SS at 65, as soon as I retire. My financial planner had it all
B777Fr8Dog • 02/26/25 02:42 PM ET
Your math is correct, also, don’t forget SS, if it still exists. MrsFr8Dog
B777Fr8Dog • 02/26/25 02:08 PM ET
As a govt contractor, wife and I are faced with arbitrarily losing our jobs
KfgsHokie • 02/26/25 12:40 PM ET
Been there (tho slightly older), start canvassing connections now
WestyHokie • 02/26/25 02:39 PM ET
The spring retirement thread: come on in! the water's fine 🤪**
`lag • 02/26/25 12:29 PM ET
If your retirement benefit doesn't change by staying on longer...
Beerman • 02/26/25 12:14 PM ET
Getting close starting to think about it...just pure curiosity...
RTFC • 02/26/25 11:27 AM ET
$10,000 plus annual i flation adjustment
WestyHokie • 02/26/25 02:41 PM ET
What ever it takes you to be happy now. You don't have to save so take
UTPr0sim • 02/26/25 12:23 PM ET
I know that. I'm going to be fine, and I really do appreciate the answer,
RTFC • 02/26/25 01:38 PM ET
We have worked the #s with our financial advisor
Happy Dog • 02/26/25 11:53 AM ET
I'm a long way off, but when the time comes,
TechHokie13 • 02/26/25 11:03 AM ET
What if Walmart paid more? 😎👍🏻 MrsFr8Dog, the dogs and I will travel in
B777Fr8Dog • 02/26/25 02:13 PM ET
Current plans are to retire at 60 and move overseas
GoobyPls • 02/26/25 11:00 AM ET
I retired 8/31/2013 at 66. Best decision I ever made.
Atlee Hokie • 02/26/25 10:00 AM ET
yeah...the mortgage is a key part of my situation...
JoesterVT • 02/26/25 10:04 AM ET
For some it is, for those with a 2.5 rate, not so much **
WestyHokie • 02/26/25 02:43 PM ET
eh...just talking about the fact that a good chunk of money...
JoesterVT • 02/26/25 02:47 PM ET
Yeah, totally get that
WestyHokie • 02/26/25 02:50 PM ET
We just moved about 1.5 years ago, but have been throwing money at
reestuart • 02/26/25 11:50 AM ET
I had a home in town where I worked and also beach house where wifey spent
DonHo-kieHi • 02/26/25 10:59 AM ET
I’m doing it because I like little kids…**
HokieGator • 02/26/25 09:13 AM ET
it's like Demetri Martin said
HokieMacDaddy • 02/26/25 09:14 AM ET
Michael Scott's dating profile**
HokieDan95 • 02/26/25 11:04 AM ET
Never **
PhotoHokieNC • 02/26/25 09:05 AM ET
That’s a shame **
OXVT • 02/26/25 09:12 AM ET
Some people like to work
MrBayAreaHokie • 02/26/25 09:00 AM ET
This ^^^^^ I've adjusted from being CEO/Pres of multiple companies to CFO
Hokebury • 02/26/25 12:46 PM ET
You just explained why I retired 3 years ago. That pension makes me
Stork • 02/26/25 08:58 AM ET
^^^^what he said except 42 years for me^^
DonHo-kieHi • 02/26/25 10:42 AM ET
Pensions? What are those?**
hoosnowahokie • 02/26/25 09:09 AM ET
Well, 43 years ago when I started, there were a few more companies that
Stork • 02/26/25 09:11 AM ET
Those of us with our own business had to do it ourselves. I provided that
DonHo-kieHi • 02/26/25 10:47 AM ET
The only reason I hung w/the state for 30 years/endured Xtreme BS**
astrohokie • 02/26/25 09:31 AM ET
I am 66 and still working, not because I have to but because I haven't
lilhokie525 • 02/26/25 08:57 AM ET
WAR 1958!**
Brown Water • 02/26/25 10:49 AM ET
If push comes to shove, you could start your own trivia gameshow.**
Chris ColemanAdmin • 02/26/25 09:36 AM ET
Monetize it**
TomTurkey • 02/26/25 11:01 AM ET
That's what I was thinking................. :)
santafe • 02/26/25 10:52 AM ET
Plot twist: he already did, and we're all unwitting participants in it. TIC**
MP4VT2004 • 02/26/25 10:51 AM ET
Assuming I live that long, I'm definitely tapping out at age 62
Hokie Fiji • 02/26/25 08:55 AM ET
Pretty much my current plan, 62 but I may work
HortHokie • 02/26/25 09:56 AM ET
Just don't do the "oh, if I only stay another year, I'd have ..." for too
coshokie • 02/26/25 08:42 AM ET
There's no way in hell I'm getting a part time job after I retire.**
HokieNoVA • 02/26/25 08:37 AM ET
Ehh, If any fly shop would hire me, I'd work for almost nothing...
hokiehunter07 • 02/27/25 09:10 AM ET
but you'll do the full time job for less than half time pay?
JoesterVT • 02/26/25 09:20 AM ET
Not gonna be a Wal Mart greeter with that attitude! **
vthokieq • 02/26/25 08:41 AM ET
Meh, by time I retire they'll have one of those AI terminators doing that.**
HokieNoVA • 02/26/25 08:43 AM ET
My VT college roomate retired at 59. His math happy wife showed him he
UTPr0sim • 02/26/25 08:35 AM ET
And that nest egg has done very well the last few years especially. **
Stork • 02/26/25 08:59 AM ET
I agree with the last sentence, but I wonder what is a 'good nest egg'
radhokie1 • 02/26/25 08:49 AM ET
7 figures plus. My wife and I both had pensions and SS so that is a major
UTPr0sim • 02/26/25 12:02 PM ET
If the numbers were actually what you're saying, then yeah, get out of
Late 80s Hokie • 02/26/25 08:32 AM ET
Health Insurance is key. My roommate had that so no brainer. My wife wait
UTPr0sim • 02/26/25 12:04 PM ET
I'm not 100% sure what it will look like for me. I know that I will want
reestuart • 02/26/25 08:37 AM ET
The beauty of retirement is it gives you options. You get to choose what
Stork • 02/26/25 09:03 AM ET
I personally think fitness should be job #1
EDGEMAN • 02/26/25 11:41 AM ET
Doh! Sorry. I meant this to be under the original post.**
reestuart • 02/26/25 08:39 AM ET
This is the same math my wife uses when shopping...
vthokieq • 02/26/25 08:28 AM ET
"They are practically giving it to us!!!"**
reestuart • 02/26/25 08:32 AM ET
"Thanks honey, you're saving us right into the poor house"**
Brown Water • 02/26/25 10:56 AM ET
I love the thought process, and I can certainly be guilty of it at times.
reestuart • 02/26/25 10:59 AM ET
In my job, it was a stroke or retirement.
TomTurkey • 02/26/25 08:28 AM ET