POLL: Retired people -- at what age did you retire?

[Jingthing]

Retirement isn't what it used to be. 

Private pensions are much less common.

Many people think they will never be able to retire (but often things like bad health and job loss happen that forces them to, ready or not).

As expats to Thailand and other places know, sometimes retiring abroad to a (theoretically?) lower cost country gives people the chance to retire early, or retire at all.

Many people still work part time in so called retirement.

Here in Thailand to have retirement status for immigration you need to be at least 50.

But younger people can still "retire" here using the Elite Visa.

 

Historically, going not that much further back retirement wasn't really a popular expectation at all -- life spans were shorter and you generally worked till you dropped. 

 

For the purpose of this poll I'm going to define retirement as you've either stopped working and hope you won't need to work for money again, or you are retired but work part time but you could still stay retired without that income. 

 

Of course life is messy, people are different, sometimes people by choice or necessity start working again after they have officially retired. 

 

But you get the idea, right?

 

This poll is for people ALREADY retired. Only them. It is not for people to say at what age they plan to retire. 

[meechai]

56 & not because I had the classic "enough"

I just realized life was for living & at 56 retired

Took SS at 62 & for me that is fine as I have no mortgage/real bills.

 

[BritManToo]

I retired age 45, after watching 'Fight Club' and 'American Beauty'.

Got the same deal as well, a years tax free pay.

Two movies that changed my life.

[JAFO]

46 because I could. 3 years later was recruited by former colleagues to join the company they worked for. Did a 2 year stint and retired again. After that I have been on and off for contract purposes. Always on my terms and do not need to work. Its just for play money.

[OneMoreFarang]

I am not retired and I can't afford to stop working for some time.

But most of my life I didn't work all day. I make less money than I could because I take it easy and don't stress myself.

Two hour lunch - no problem. First meeting 10:30, lets enjoy that coffee first.

I realize that that is not possible in every job and sometime I have to work 10 hours a day to get things done. But not all the time.

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

[JAFO]

17 minutes ago, OneMoreFarang said:

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man

I saw so many doing that when I was just about 40. I put a plan in play to get off the hamster wheel. Some need to work, its a huge part of their life and wouldn't know how to enjoy retirement. Recently a few of older colleagues I know retired and one died, the other wanted to go back to work and couldn't and was saddled with depression. 

 

I love life way more being its all on my terms.

[worgeordie]

42, start saving and working hard while young,you can do it,

OK, too late for many now.

regards Worgeordie

[bkk6060]

51 minutes ago, OneMoreFarang said:

I am not retired and I can't afford to stop working for some time.

But most of my life I didn't work all day. I make less money than I could because I take it easy and don't stress myself.

Two hour lunch - no problem. First meeting 10:30, lets enjoy that coffee first.

I realize that that is not possible in every job and sometime I have to work 10 hours a day to get things done. But not all the time.

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

Well, who works 365 days a year?

Most jobs afford holidays and vacation so enjoying life while working is certainly attainable. It was for me.

I personally do not think age 50 is an "old man".  In fact, the past 15 years have been the best of my life.

Monetarily, physically, and sexually.

Yes, I would work my 30 years again in a second.  But, maybe I was lucky I enjoyed my job and obtained a great retirement.

 

[Langsuan Man]

The secret to retiring early or when you want is to make sure that you have funds deducted from your pay check BEFORE you get it.  If you don't have it you will not miss it and your spending habits will reflect your take home income

 

That is the rule I followed and 10% for an 18 year career really "compounds"  and was able to hang it up at 57

 

My father beat me by retiring at 50, when I asked him how he was able to do it, he smiled and said " I never told your mother when I got a raise or a bonus, so her spending did not rise to meet it "

[Jingthing]

I'm pleasantly surprised that people are commenting on this topic.

 

I'd like to invite people to describe the conditions of their retirement.

 

Did they retire at the exact age they had planned without external pressure?

Were they nudged into earlier retirement because of job loss and/or health problems?

 

Do early retirees regret not waiting? Do later retirees regret waiting?

 

Etc. 

[dundas]

I was 'restructured' into a job that required legal qualifications, which I didn't have. I guess it was the organisation's retirement plan for me. I lasted a year before exiting at 62. Happy that I am enjoying my life and am no longer part of that world. Yeah, and I know how fortunate I am. 

 

[brianj1964]

13 minutes ago, Jingthing said:

I'm pleasantly surprised that people are commenting on this topic.

andard 

I'd like to invite people to describe the conditions of their retirement.

 

Did they retire at the exact age they had planned without external pressure?

Were the nudged into earlier retirement because of job loss and/or health problems?

 

Do early retirees regret not waiting? Do later retirees regret waiting?

 

Etc. 

I had planned on retiring at 50 but was told by Standard Life i could not access my pension with them until i was 55, worked on saved more and retired this year at 55, though did not need to withdraw anything from my pension anyway, I have zero regrets about retiring early, i wanted to do it while i was young enough to enjoy it, who knows what tomorrow may bring. i see too many famous people popping off early

[Golden Triangle]

I have been working from the age of 15, my final job offered me early release so I took what they offered at 58, my dad never made it to retirement (59) which worried me slightly, anyway, here I am, happily retired and enjoying life as much as the aches & pains will let me ???? been here 8 years, life could be a lot worse.

[villagefarang]

Retirement isn't really the right term in my case.  I just stopped entertaining job offers because I figured I had enough to get by.  I was 40 at the time.  25 years later I am still getting by.

[GalaxyMan]

I only ever worked out of economic necessity. As soon as I felt I had enough money to live the way I wanted to live without working ever again, I stopped, at age 50. I've enjoyed every single minute of it and it would take stupid money to make me ever work again. Life is short and I want what time is mine for me, not to enrich someone else.

[brokenbone]

medical retirement from 30, i swapped constant freezing to constant pain

and dislike both

[BritManToo]

7 hours ago, OneMoreFarang said:

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

It's sort of normal to do that.

Would I do it again, NO because I was working to support the wants of a lazy cow who enjoyed her endless 'coffee mornings' while telling everyone who would listen how I ruined her career by getting her preggers.

Marriage in the west is only for mugs, wish I'd worked it out when I was 20.

[Chazar]

7 hours ago, BritManToo said:

I retired age 45, after watching 'Fight Club' and 'American Beauty'.

Got the same deal as well, a years tax free pay.

Two movies that changed my life.

Did you throw in a little  sexual harassment? 

[RichardColeman]

Got voluntary redundancy in 2009 at 45 - after paying off the mortgage, and being unable to find any work - decided to rent the house out and live in Thailand with the wife I met on the net (still together). Now have early redundancy payments at 55 as well and rental income coming in monthly, so planned it well and  worked out well in the end. And have escape route.

 

For those wondering why I could not find work - left school at 16 gluing two bits of rubber together, 25 years later was the same company business unit planner, travelling the EU and America for work. After redundancy, too little education for my own job - no degrees and over qualified for low paid jobs ???? That's the downside of on job apprenticeships - you have nothing to show !

[BritManToo]

1 minute ago, Chazar said:

Did you throw in a little  sexual harassment? 

No, but I did do the cannabis, and managed to bang one of my sons schoolmates (after she left school).

 

[Saltire]

A series of both fortunate and unfortunate personal events led me to retire 8 years ago at age 56.

 

In 2002 I was made redundant twice in the one year. Each payoff was large, even though service was short. Both went to the bank and didn't touch it. One of these employers had an amazing pension scheme with unbelievable terms should they lay you off, so a small but useful pension also started in 2003. Was pi@@ed off with the UK and so sold  house, car, everything and took a job as a school director in China for 2 years. Didn't need any money from home while there. This made up my mind to travel more in and around Asia, which I did, and the plan to retire as young as I could was born. I worked hard from then on, and after a volunteering holiday in Cambodia 10 years ago I knew it would be retirement in either Thailand or Cambodia. I tried Cambodia and it was great, I lasted 5 years there and only changed to Thailand after meeting my now wife on holiday. No regrets, now living well (and rent-free). Will improve financially a little when other pensions kick in. My only worry is medical issues and not having the NHS to turn to.

[Stocky]

Semi-retired.

Probably never stop working as I enjoy what I do. But from age 40 I cut back to working 6 months per year, my father died aged 46 so had no desire to follow in his footsteps. Since 55 I've reduced further to about 8 to 10 weeks during the year. That's all the contract work I need for us to live comfortably.

[nausea]

I retired aged 60 due to ill-health. I was intending to work till I dropped, and if that actually had happened I'd be living the life of Riley now. Still, one musn't complain. I do wonder what happens to all these English teachers, who come here age 20 something and get seduced - in their old age I mean. Luckily, I came here late in life. If I'd come here in ny 20s I'd be f@#ked. Just one advantage to being poor, I suppose. You have to make something before you do something.

[cmarshall]

I started planning for retirement at age 26, when I heard a college professor on public radio point out that, while most Americans planned on retiring one day, no more than 3% succeeded in providing a retirement income for themselves beyond Social Security, my own father not being among them.  That was my come-to-Jesus moment.

 

I retired at 61, having only begun a professional career at age 35.  Married late, never divorced, no kids, so getting retirement together in about 25 years was doable at my income level.  I planned extensively and at retirement had about 20 years of expected living expenses in the portfolio.  Have just now hit 70 and started to take Social Security with the maximum delayed retirement benefits.  At this point I am a little bit better off than the forecast of 10 years ago, so I believe that my plan has worked at least so far.  And that's a source of some considerable satisfaction.

 

I enjoyed my career for most of it, but not for the last few years when the workload increased arbitrarily. I don't regret my choices and would on the whole do it again.  Others among my acquaintances failed to plan and have now to cope with financial difficulties.  Those who are now able to look forward to a retirement without financial worry fall into these categories: public employees with defined benefit pensions, those who married well, a small number of exceptionally talented hard-workers, and those who had some life-changing windfall.  

[Number 6]

43 but I was only five months in Pattaya the rest traveling in and outside Thailand. At 51 I got married which I swore I'd never do. At 52+ I started teaching so we could stay in BKK. I was going crazy from boredom. Wife has a decent job and I did not want to take her from that. Shockingly after ten years it was not difficult to regain my work ethic. First few years very rough, but I enjoy teaching for the most part. Ive really had some great students and changed a few lives for which I'm proud. I make good money. Prolly quit at 62-65. Move to South Thailand or back to USA.

 

Bangkok not a pleasant city. Especially in last ten years, five years.

 

 

Now having to think about the wife present and future I'm behind the curve financially because part of the retirement plan was no wife, no kids. But it will work out as long as US economy doesn't take a dump in next ten years - asking a lot, I know. The savings from teaching is helping. Not burning cash and banking good money. We live cheap and will do so as long as we're in BKK.

 

Have everything we need. Wife saves a bit too. We take one international trip 2 weeks each year. Two week long holidays in Thailand. I get plenty of time off from school, paid. Maybe 3-4 months.

 

 

[CGW]

8 hours ago, OneMoreFarang said:

Would you do it again in the same way?

"With "The wonders of hindsight" doubt many wouldn't change some aspects of their working life, I certainly would!

One things for sure I would not give ANY so called "financial adviser" the time of day! never met one who wasn't a scumbag!

[sipi]

42, 48 and 52.

I'll try again at 58, 60 and 65.

[Number 6]

8 hours ago, BritManToo said:

'American Beauty'.

Great movie. I saw it first in BKK at the Lido??? Old cinema in Siam Square. Ironic Spacey innit? Meena Suvari (sp?) was smoking.

[Jingthing]

8 minutes ago, sipi said:

42, 48 and 52.

I'll try again at 58, 60 and 65.

That's funny.

A serial retiree.

Maybe it would work better if you lived on cereal? 

[cmarshall]

23 minutes ago, Number 6 said:

43 but I was only five months in Pattaya the rest traveling in and outside Thailand. At 51 I got married which I swore I'd never do. At 52+ I started teaching so we could stay in BKK. I was going crazy from boredom. Wife has a decent job and I did not want to take her from that. Shockingly after ten years it was not difficult to regain my work ethic. First few years very rough, but I enjoy teaching for the most part. Ive really had some great students and changed a few lives for which I'm proud. I make good money. Prolly quit at 62-65. Move to South Thailand or back to USA.

 

Bangkok not a pleasant city. Especially in last ten years, five years.

 

 

Now having to think about the wife present and future I'm behind the curve financially because part of the retirement plan was no wife, no kids. But it will work out as long as US economy doesn't take a dump in next ten years - asking a lot, I know. The savings from teaching is helping. Not burning cash and banking good money. We live cheap and will do so as long as we're in BKK.

 

 

If I may ask, would your Thai wife be willing and able to relocate to the US late in life?  Without having paid into Medicare during her working years, would she be able to enroll in Medicare?  Would you?  What about Social Security?

 

It has seemed to me that Americans who expatted to low-income Thailand during their working years would have a particularly tough time retiring up the cost-of-living gradient to the US.