OT: Is it time to retire
 

I just found out I will probably have to return to the office in 3 or 4 weeks. I have to admit the thought of returning has me in a bit of a panic. I was planning on retiring by the end of the year anyway, I just wanted to have a solid year of earnings to build up my social security benefit and save so we can relocate to California. I sent an e-mail to the HR rep to see if there were any accommodations given for people over 60 and she replied no, not for anyone.

I would like to know your thoughts. Do you think it's foolish to return and possibly risk my health?

I want to quit right now, but I have at least 15 more years till I can :). Have you crunched all the numbers? Would you feel comfortable sticking it out another six months if you made your own preparations (masks, hand sanitizer, etc.)?

I retired when I was 58. I was a bit concerned about all the AARP, etc., articles and calculators advising how much you need before you retire. Not sure what those people are spending their money on, but I’m spending a lot less than when I was working!

I am in somewhat of a same situation. I've been furloughed since mid-April with a return date of July 25th. My first return date was May 31 but was extended.


Before all this happened I also was considering retiring at the end of this year as I'll be 62 in December and am just DONE!! I absolutely love being home and having the time to do things I want to do. At the end of the furlough I hope the company lays me off permanently because even before all this my responsibilities were decreasing due to several operations changes and I just wasn't busy enough. Also, there was an issue with a disagreeable co-worker who (whom? - I can never keep this straight) if I never see again it will be too soon.

If they do make it permanent the decision will be made for me. If I get called back I will most likely quit. The thought of going back makes me want to cry.

To answer your question - in my opinion, if you can financially be OK, don't go back. It sounds to me like you really, really don't want to.

I am also in the don't go back camp. I "semi-retired" when I turned 62 and just stayed at my job part-time for the extra money. But now after 3 months off I really doubt I will go back even if they do re-open. ( I worked in a restaurant so re-opening is very iffy at this point.) I just don't want the hassle anymore and exposure to the virus.

DH was going to retire in September when he turned 66 but decided to do it a few months earlier because the thought of going back wasn't appealing to him either.

If for whatever reason they retired before 65 and don't have health insurance through their spouse, they most likely spend their money on health insurance until they're eligible for Medicare. In my case it's almost $1000 per month. Other than that, I too am spending less than when I was working. I'm planning to throw myself a big "Welcome to Medicare" party this December! :D

If it's any comfort, I am 60 years old & work at a grocery store. I haven't gotten sick yet. We have been required to wear face masks here for a few months now, & the company supplies them or shields for the employees. Does your company at least supply face masks or hand sanitizer for its' workers? Do they plan on social distancing? If not, they are a bad company to work for, & they might be breaking some laws.

When this first started, we were crazy busy with customers stocking up on items, & there were no masks or anything. One day I was literally bagging groceries for 12 hours. All the employees were in the same boat & we all got overtime. It was a relief when the stores shortened their hours! Anyway, none of us got sick, so miracles do exist.

I used to hate going back to work after taking a weekend's vacation, but I decided that was not a good way to be, so I made a decision to not feel that way, & strangely it worked, I no longer dread going back to work.

I plan on working as long as I can, even though my job is pretty hard at times (I work from 12 am to 12:30 PM every Wednesday.) I can't see a way to afford to retire, plus, I still like my job. I will be happy when I can retire, though.

Whatever you decide, good luck. If you go back to work, be safe. Wear a mask, don't touch your face, practice social distancing, wash your hands frequently & use hand sanitizer if you can't wash your hands.

I retired at 56 and have never, NOT ONCE, regretted it. I'm now 63.

I did crunch the numbers, and I took social security last year. I also own my house and land, free and clear. I doubt I would have been able to retire had I not already owned my place.

I also need to note that I do a little work here and there, mostly in the summer (although not this summer because my summer work got canceled because of covid-19 related issues).

I couldn’t wait to retire. When I found out my Social Security check would be $500 a month more than I was making working full time, I told my boss right away that I was retiring. I was 60. I retired in October and I was grateful to not have to do the commute to work that winter because we had a rough winter that year. Having said that, I can see why financial advisors always want you to be well set before you retire. My house needs a new roof - around $16,000 and I don’t have THAT kind of money on hand.

I was in health care and am very glad I retired over 6 years ago at 56. I haven’t looked back! Health insurance costs were not an issue for me as I live in Canada.