Retirement

Pirate Lady

Pirate Lady

Well-Known Member
Jun 2, 2020
7,533
Chesapeake Bay, Middle River
Boat Info
Sundancer 250 ‘91
Engines
7.4 Bravo 1
Blindsided this morning. After 28 years with the railroad I was informed that on 9/7/22 my position is eliminated. Strange it’s 1 week to the day after I turn 70. 1 of 135.
On the positive, they will continue my salary and benefits to 9/7/23. And still get the bonus in the spring. Then between railroad retirement and pension I will collect almost as much as working.
I was not expecting this and I am in shock. I have 6 weeks vacation to burn by September so there is that too.
I don’t know what I am going to do everyday. I never contemplated retirement, thought I’d work forever.
The boat will keep me busy thru then but it’s going to be a bad winter with nothing to do.
I never expected this. It’s going to be different.
 
I can't imagine the shock. Sorry that this is bad news for you. Since you never contemplated quitting you probably never thought about what you'd do in retirement. Now that your opportunities have opened up this may be a huge blessing in disguise.

Does your wife work?

Best of luck.
 
Pirate Lady said:
I never expected this. It’s going to be different.
Click to expand...


I sorta got blindsided with my retirement and was a bit scared heading into it, but it was OK.

Now is the time to get your retirement assets in order. I'm not sure about your pension, but do you also have as 401K-type investment account? If so, you might want to consider rolling it over into an IRA.

I would suggest you find a fiduciary retirement planner and spend some time with him/her. That person will be able to answer a lot of your questions and eliminate some of you fears about the future.

Good Luck!
 
That's where you and I differ. I've wanted to be retired for many years, since it seems like I either have projects building up, or wanting to travel. It's always come down to no time. Once I'm done (04/23!), we're going to load the fifth wheel and follow the weather for a couple of years. Take the mountain bikes, spend time in Yellowstone, Yosemite, Glacier, Moab; you get the idea. Let the mind clear for a bit.
Don't work forever! My FIL convinced himself that, once he was done working, he'd die, and now he just sits in a chair and stares at the TV. Because of his attitude, he has no plan to do anything else. It's gotten so bad that we occasionally get calls from my MIL to come over and help pick him up off the floor. He just lays there like a bloated whale. He has no drive to do anything! Disgusting!
You have the summer to anticipate your next move. Don't give up. Stay physical. Yes, the boat won't hold your attention for years on end, but there's so many other things you could do. Keep the faith, brother!
 
I retired at 62 and for a couple of years I was getting calls from former employers asking me to come back. I kinda missed work and was sure I was needed. After a couple of years of turning down the offers the calls stopped. Dammit! They can do it without me. Another year or so and I was over all that and so busy, I don't know how I ever found time to work. It's like dying. Your not sure what it's gonna be like but billions of people have done it before you and some of them probably weren't as smart as you.
 
Pirate Lady said:
Wife works, she is 5 years younger. Will keep working. It will be me and the cat.
We have fabulous insurance thru Aetna. I dread thought of Medicare.
Click to expand...
I missed your addendum before my first reply. Yeah, keep working, even if it's at Home Depot. GFC makes a good point about rolling your 401(K) into a Roth IRA. There's certain tax benefits once you retire, as some things are based on your taxable income. If you've already paid taxes on it (the Roth), then your annual income shows as being less. 'Makes a difference on certain insurance programs and the like.
 
Oddest thing for me after 32 yrs. with the power company was a loss of identity. It's funny when you talk to someone one of the questions that comes up pretty quick is what do you do for a living. At 52yrs. of age telling someone I was retired was odd. I tired the retired life just didn't feel right . Took a low stress maintenance job have been there 6 yrs. I guess when I've had enough I'll hang up my working tools . Hell who knows that could be today. Good luck with your next adventure.
 
Pirate Lady said:
Wife works, she is 5 years younger. Will keep working. It will be me and the cat.
We have fabulous insurance thru Aetna. I dread thought of Medicare.
Click to expand...

Fear not. Medicare (if not an "Advantage Plan") is the best medical insurance you can have. Virtually any doctor any where any place any time, plus much more. I selected plan F but others may have different needs.
 
My grandfather 'retired' about a dozen times before he passed. He was 94 and my grandmom wouldn't let him sit still. In order to keep his mind active, he would work. He literally worked up until right before he passed. He was from a different era though. If you're 70 and you don't NEED to work, then why work? My advice would be to rediscover what makes you happy and what makes your gears turn. That's what's supposed to make retirement enjoyable.
 
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