I need to retire

I have friends who stayed it the sport and others who walked away.

We're still great friends. The sport still means a lot to me, but I don't let it determine my life.

Reconnect with your family. Take up cycling, swimming or wanking.

Do something else. Drink wine.

A lot of people (myself included) have been in a position of caring too much about their work. We think, “who will take care of x, y, z, if i leave?” I tend to think that can be unhealthy. It has to be win-win. You don’t want to stay in a job out of a twisted sense of duty and responsibility.

Besides that inflated sense of burden-responsibility, it is also true that people aren’t really replaceable, and no one can be you.

True story, I still go to get my teeth cleaned, and miss my old dental hygienist, Greta. You probably have memories of a favorite boss, or a favorite student, or a favorite neighbor, and no one has been able to surpass them. They left a hole when they moved on, and nobody can completely fill it.

“People need to be necessary” is something I’ve heard often (in realm of practical psychology), so even if the money is good, don’t deprive yourself of the main way that you feel in service to others. I don’t think people are genuinely happy watching the Price is Right and taking naps all day long.

I retired 11 years ago at 55 after a good career in manufacturing. A very rewarding but intense 35 years. My retirement lasted 10 months. Not enough mental stimulation etc. Went back to work for 10 more years but at much reduced capacity and pressure. Many times I was offered much higher leadership positions, but always turned them down. The last 5 years I spent a lot of my time at work mentoring 20's and 30's men and women. That was the best thing about my last job. 18 months ago corporate announced the facility I worked at was closing at the end of 2024. I was fine with that. Actually I was happy. I was able help some of the people I mentored with new positions locally and around the country. It's been 16 months since my 2nd retirement and I'm loving it. I'm still in contact with a lot of people I mentored. OP, maybe take a lesser role for awhile and see how that goes. The weirdest thing about retirement for me is the 'nightmares' I get once and awhile. Not scary, but kind of silly. Like being at work and going to endless meetings where nothing ever gets decided. Day after day after day after day.

Best thing about retirement? Time! I'm not going into details but my wife and I do whatever the heck we want. No complaints.

Yes and take up pickleball

I am very jealous and I still blame Covid for getting me to make some terrible financial decisions which are leaving me working at above Social Security age. How much do you think I need? I have house paid off, but no pension. I am trying to hold on for maximum SS, but I am running out of steam fast. I salute all of you, even liberals, who bought Apple, Amazon, and Nvidia, but I was just too chicken. I whish I had a time machine and undo my conservative choices.

Running is not a sport

Buying individual stocks is gambling. Sure some folks made plenty on Apple, Nvidia, etc., but think of all those that have lost. As far as what you need for retirement, it all depends on how much you need for living expenses. You have your house paid off, which is great. Generally, the 4% rule applies for retirement savings. You can safely withdraw 4% from your nest egg yearly and not have to worry about running out of cash. So, if you need $40k per year to live comfortably, you will need $1 million to safely withdraw the 4%. If you get $20k/year from SS, and need $40k per year to live, then you would need to fill the 20k per year gap, so you would only need $500k in your nest egg (applying the 4% rule). Again, this is just a rule of thumb. Your mileage may vary!

I always wonder why people never say “And at 85, I’ll start to spend the actual nest egg!”(not just the interest the nest egg earns)

I mean, if you’ve got 500K (or more) in investments, surely you can start spending 40K of the principle annually, starting at age 85 (or earlier if a lot of chronic health problem) and not be taking too great a risk.

i know you said, “just a rule of thumb”, but it sounds silly that the rule of thumb would be to never, ever touch the principle.

I retired from my job in another field, thinking I’d be hard to replace. I was the primary proposal writer that kept the money coming in. It turned out I was right! The program I had worked so hard to build up ran out of money two years after I left and fell apart shortly after. I often think to myself that I should have stayed longer, but what purpose would that have served? I did my best while there and no matter when I retired, it would be up to others to carve out their own futures after I left. If they couldn’t get grants on their own, then they needed to find other work.
Meanwhile, my retired years have been some of the best in my life. Travel abroad, taking on new interests, volunteer work, …. While I feel some disappointment that the program died without me, I would make the same decision if I went back in time.

Line up a successor who can do the job. We aren't permanent, but we can make sure our contributions aren't lost by setting up the next generation.

The 4% rule assumes that you are going to be living for 30+ years and not bringing in any additional income. You are absolutely correct. If you are 85, you aren't going to live for another 30 years, so you can safely withdrawal much more than the 4%, unless your goal is to leave your beneficiaries a nice nest egg! Some financial experts even say you can safely withdraw at the 5 or 6% level without issues. However, beware of the risk of sequence of returns!

Read this novel. "The Unforgiven Line". By Paul C Maurer

Your welcome.

Retirement is the only job I ever really liked.

Time goes by faster though

And George Sheehan books seem much, much better in retirement

But of course it's just too much work to explain why someone would want to do that.

Hmmm, no one is irreplaceable, or so it has been said. Free country, no one should begrudge you for doing what you want. Follow your dreams.

Hmm. I've read this thread, but it's a bit confusing. So I'll just add my 2 cents, for what it is worth. (We round up/down to the nearest 5 cents in Canada now....so.....)

I'm 63.

I ran from early teens to late 50s. 45 years of a sport that I was obsessed with. But in 2019 I had to quit.

I coached, passionately, for 30 years. But around 2017 the axe just fell. Too many balls to juggle. (Work, fatherhood, my own running falling apart....)

I was in the Airforce for 40 years. Retired 2022.

I was married for 20 years. Divorced 2020.

So....you can probably see a lot of "endings" here, from 2017-2022. You are likely expecting a Big Sob Story right about now.

Newsflash: In 2025 I have never been happier.

All of those past things remain mostly wonderful. Those great memories / accomplishments do not vanish. Cherish it all.

But move on!! Keep growing!! Do new things!! Meet new people!!

I discovered Swimming after Running. God I love Swimming.

You start Proust's big book yet? Well wtf are you waiting for?

No matter what you have done, there is 10x more to choose from to do, at any age.

Push on!!!

Correct.

Your welcome also.

Are you man enough to grow old?

Right on!