By in Business

They are gambling on you not taking an early retirement at 62

If you are about to consider an early retirement at 70% of wages monthly on your Social Security retirement I guarantee you they are banking on you waiting until you are 64 or older before you finally throw in the towel.

My best friend who recently turned age 62 told me if he decided to retire from work now, he would be facing a cut in his Social Security earnings and if he held on for just a few more years, his monthly pay from S.S. would be at 100% instead of around 70% for retiring early, but he says, he wonders just how many quality years he has left to enjoy retirement.

Already at 62 years of age, he says, he really likes being able to afford the benefits of having more income but feels like he has worked basically long enough and as the world turns into a chaotic mess both on the political front and the economic and social realm along with global climate change, it is a difficult decision to just hold on to that job and continue working, in hopes that by the time he reaches the age where he can draw a hundred percent of his Social Security income he might have a few more years left to actually enjoy the last remaining years of his life in the pursuit of things he actually enjoyed doing.

I too am facing the reality check of being at an age where you continue to ask yourself, how many quality years do I have remaining on my yard stick of life? Will I continue to have hearing and vision problems and worry about becoming obsolete in a world that is changing rapidly from innovation of the current era to inventions of the days and years ahead with Artificial limbs, artificial Intelligence and artificial news reports!

I have tried to tell him that it is his decision and that often we get so used to the daily routine of doing the 9 to 5 that we might go bananas, when we retire and have nothing to do but twiddle our thumbs and set and veg out on videos and soft bread sandwiches! Not to mention the day by day onslaught of telephone marketers and robocalls that we have a tendency to want to yank out the telephone cord directly from the wall!

I asked him yesterday in a phone conversation, "Don't you sometimes just want to throw your phone against the wall and smash it to bits?" He replied, "I almost wanted to do that yesterday"

My wife is currently watching morning talk shows such as The View and others of interest. But earlier she was watching YouTube videos about practical and entertaining ways to deal with telemarketers and scam callers and she enjoyed those, while I had coffee, a chocolate microwave in a minute brownie in a cup and while defragmenting my system drive, played a few rounds of Granny In Paradise, to pass the time. So I came here to Persona Paper just to add my 2 cents worth for today. Frankly I am worn out. I went out to the metal storage shed to get a rake to rake up some dead leaves over our dead lawn to put them in a mulch pile for next spring only to see that 5 Rubbermaid totes had collapsed and fallen over top of my lawn mowers. I had to take them out, fill them with regular gasoline and run them both one by one to make sure they both still functioned after having a landslide of totes fall on them and lay there for the past month unattended.

It was humid and hot yesterday and I sweated like a beast in that metal shed, while re-stacking things. I discovered that there were some fragments of plastic all over one lawn mower from a lid that had emploded under the weight of too many other totes. And a microphone stand, rusted all over and my bicycle also had rust. It seems that having anything metal, exposed to the heat and humidity on a month by month, year after year basis can literally destroy metal surfaces to the point of no return. I have to hose off my 10 speed and pump up the tires, go buy a new helmet and start riding that bike at the park at least an hour a day, to burn off some pounds. But I do remember that there once was a time when I rode it for miles and miles. I might have to rethink long distance and just keep within a one mile radius of the house.

It will be fun. I know I have to motivate myself to get that bike out and pump those tires because a bike that sits for long periods of time, not being used, just sitting in the same old spot for months or perhaps even years, will get a bit rusted out and the tires will simply go flat. I don't know if I can get that bike looking like new again but I will work on that today.

Meanwhile I just stopped by to write a little bit and will return later. Hopefully one day Persona Paper will get some new writers in and continue to be that one writing site that lets people write their thoughts and ideas down just for fun. Share links to your personal home pages, blogs or vlogs or podcasts. Enjoy your day ahead and have a happy Labor Day weekend. My step grand daughter recently had a baby girl and she is very pleased that her little baby boy, just recently turned one year old, loves his little baby sister a lot. So in that respect it was a labor of love.


Image Credit » Image by Tumisu from Pixabay

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Comments

MegL wrote on August 29, 2019, 6:20 PM

Apparently, the earlier you retire, the longer you are likely to live. I think it's important to keep exercising and to have a hobby or something you like doing.

VinceSummers wrote on August 29, 2019, 9:39 PM

Let's see: 66 or 62? If you collect 100% for 15 years, how much would you get compared to 70% for 19 years? Sounds like you might want to wait until 65? But what if that 100% was for only 9 years. And the 70% was for 12 years?

melody23 wrote on August 30, 2019, 4:35 AM

They are talking about increasing retirement age here in the UK yet again! I'm barely fit for work now at 33 I am not making 70 I can assure you! In days gone by an NHS nurse could retire at 55 with a full pension due to the high contributions we pay into our pension and the fact that the job is far too physical for us as we age. When I joined the NHS they had increased this to 65 and now I believe there is talk of it being 68! Given that I have left my job at 33 because I find it too physically demanding, I cant imagine anyone doing it at 65. I am fortunate that I have a little money in my NHS pension and now have a private pension with my new job, but I am still seriously considering putting a certain amount of money away each month so I can retire at an age where I might stand a chance of having some quality of life left. I have worked since I was 12 years old, I think working till I am 55 or 60 is plenty!

lookatdesktop wrote on September 8, 2019, 12:26 AM

You are good with the math Vincent. It is always a pleasure to read your comments. No one really knows how many years they have left to enjoy after retirement so considering the unknown factor, it seems more or less a gamble.
Many of my friends who have retired, continue to work part time. They have lived from pay check to pay check having not planned for their retirement in some cases so they feel like if they leave their job behind, they will be forced to live with less income and that scares them.

Last Edited: September 8, 2019, 12:38 AM

lookatdesktop wrote on September 8, 2019, 12:27 AM

I agree completely

lookatdesktop wrote on September 8, 2019, 12:31 AM

Having that choice is what matters most. At some point we all have to make that one time decision. I think many who retire early enjoy the years of leisure better than burning out. Adjustment to being retired is stressful and takes some time getting accustomed to.

MegL wrote on September 8, 2019, 2:30 AM

In some ways, I work harder now that I am retired than when I was in employment! My 18 month old grandson weighs about 35 pounds (he is at the top of the height range for his age) and yesterday, I walked him to the park, ran after him, lifted him up onto the slide numerous times and then carried him home when he decided he didn't want to walk any more. The previous night, I had his 2 sisters staying overnight, then took one of them to football practice and the other into Belfast with me, where we walked a couple of miles getting stuff. Then I looked after all 3 for about 4 hours, while their parents were out. Mind you, I was tired last night!

VinceSummers wrote on September 8, 2019, 8:27 AM

There are two perspectives to retirement, methinks. Our's is one. We view it as a time when we don't have the stuff and gumption we used to, and it's time people show appreciation for our years of work by letting us enjoy to some extent the fruit of our labors. The other perspective is Society's. I use that term for lack of a better one. We are old and probably somewhat "high-maintenance" if not useless to those around us. It's time to put the old mule out to pasture. Not always with thanksgiving for the former useful output, but rather with greater thanks for the available, less costly replacements.

melody23 wrote on September 14, 2019, 5:27 AM

I would like to be a busy retired person, I don't want to just sit and do nothing thats for sure. I may just go part time when I get to my late 50's and take it from there. Our house will be paid off by then and If I manage some savings I should be able to do that I think.

MegL wrote on September 14, 2019, 9:25 AM

Yes, being busy is good (IMO).

melody23 wrote on September 15, 2019, 4:33 AM

I'm one of these people who cant just do nothing. being stuck in the house for months when I displaced my pelvis was hell on earth for me so I definitely don't aspire to a quiet retirement doing nothing, just a nice retirement doing more of the things I want to do and less of the things I don't.

MegL wrote on September 15, 2019, 3:25 PM

I am like that too. I always said I was not going to do child minding in retirement but I had 4 of them at the park this afternoon! That included running after the "Tiny Terror", who is not now so tiny but still a terror. LOL

MegL wrote on September 15, 2019, 3:27 PM

There's not a lot of substitute for loving grandparents, certainly very seldom as cheap, either!