How do you feel if you are over 60 and need to work?

[Anonymous]

The older people I know that worked (at least part time) seemed to stay healthier in my experience. While I could retire early, I am afraid of becoming bored and sick. Stay working as long as you can.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Everyone has their own numbers that work for them. It is different for all.
I say a paid off house and at least a million. Or 1.5 million (at least) with whatever mortgage.

I kind of go along with those numbers.

And how many people can save $1m outside of DCUMland, especially if you are a working stiff with 2 or more children? Or a single parent?

If you start saving as soon as you start working, it is not hard at all. Miracle of compound interest. We have $1 million now. I am 40. We each have 500k so total is $1 mil. We still have 20-25 years for it to grow and we will continue saving. I started contributing to my retirement with my first job at age 21 with my paltry $27,000 a year salary.

[Anonymous]

Everyone I know in their 60s wanted to keep working but got laid off because they were too old (cost too much). Middle class people in good health anticipating they would need their retirement money to last a good while.

[Anonymous]

Anonymous wrote:
Everyone I know in their 60s wanted to keep working but got laid off because they were too old (cost too much). Middle class people in good health anticipating they would need their retirement money to last a good while.

consulting is the only way to go at that stage as long as what you do is in demand.

[Anonymous]

Anonymous wrote:I'm in medicine and will work until at least 65. However, in my experience most doctors do. I know many who still see patients a few days a week at age 80.
Endless free time sounds great until you have it.

+1 - my mom (internal medicine) retired from full time practice at 59 but since then (she is now 69) has worked part time (averaging about 15-20 hours a week) as a hospitalist. She says she'll probably keep it up for another couple of years.

[Anonymous]

Anonymous wrote:I've never known a happy, healthy retiree who functions without a schedule.

My mom retired at 70 and schedules classes, grocery shopping, and even cleaning her apartment same way she did when she was working, except now those things can take place during the day. At first I rolled my eyes, but she is undoubtedly the healthiest person her age that I know. She's fanatical about walking and light weight training as well.

My in-laws sit in their recliners, watch Fox News, and get sicker and more paranoid every year.

Which life do you want?

I'm "your mom" activity-wise but not retired, and we still live in our home. I agree with all you said except for the part about Fox News. It could be any TV! Not just Fox News watchers.

[Anonymous]

I am 61 and have one child still in college and it never occured to me to retire until I was in my late 60's. However many of my colleagues are retiring and it makes me feel like the odd woman out. In addition, I sense a strange undercurrent that I might be considered "old", which was news to me. My father was an aerospace engineer who retired at 70, and went back to work as a consultant for another 8 years. It was considered normal to us because we did not know people retired sooner unless they were dying.

[Anonymous]

When I am 60 my kids will be 20 and 16. Both my parents worked until their mid-70s and have been retired (separately) a few years. Both DH’s parents are slightly younger and continue to work but relatively light schedules.

I plan for us to retire after our kids get out of college but with a plan to remain engaged in things that interest us and travel. I am not bothered by this timing.

[Anonymous]

Feel normal. Most people work until at least 65 now, many until 70 unless they have physical problems. Unfortunately, it's a necessity for most, including my DH and I.

[Anonymous]

I like the rhythm of working and my DH is cheap. So, I know if we stop working, he'll want to be on a budget and that is a dirty word for me since I grew up w/o anything. I feel a responsibility to work if I am healthy enough to continue.

[Anonymous]

Anonymous wrote:The older people I know that worked (at least part time) seemed to stay healthier in my experience. While I could retire early, I am afraid of becoming bored and sick. Stay working as long as you can.

BUT some people may be retiring early BECAUSE they already have health issues. Maybe this is why they die after retiring early?
I had a very serious, life threatening illness, figured out we could "get by" financially , took early retirement. (didn't discuss my health with any co-workers) So when I die, is it because I was "bored" and/or I would I have stayed "healthier" if i continued to work?

[Anonymous]

Anonymous wrote:
Everyone I know in their 60s wanted to keep working but got laid off because they were too old (cost too much). Middle class people in good health anticipating they would need their retirement money to last a good while.

I also think many people assume they can just continue to work their job until they decide to retire. However, the reality is that as you get older greater chance you’ll be shuffled out. I’m 50 and look around and cross my fingers my company will keep me

[Anonymous]

My DH is eligible to retire at 56. Financially, we could easily do it. We are both 50 and he is already looking at options after retirement. I think he'll do some contracting work. I work about 12 hours a week and have no plans to stop. Neither of us want a stressful full-time job, but we'll likely work for many years even if it's only part time.

[Anonymous]

Anonymous wrote:There are a lot of ways to stay active without working. Some people require a structure, others do not.

I definitely need structure. I am working from home two days a week and I found myself still in pajamas at 5pm.

[Anonymous]

Anonymous wrote:
Doesn't early retirement typically = early death?

Isn't that a fact?

It is a chicken and egg thing: you can't work if you have serious health issues.