About Retirement
Margaret Kaufman Campbell, abt. 1802 - 1880
I was recently searching census records, and suddenly realized- back in the olden days, people rarely retired!
While tracing one gentleman through the decades I noticed he'd been working on the railroad for many years. His final census entry (at the age of 76) showed him living with his widowed son-in-law, and still showed him employed by the railroad, as a security guard.
Some people love their jobs and intend to work until they drop, but I believe most of us plan on retirement at some point (usually as soon as possible.)
Although I was divorced about 11 years before retirement, and therefore lost half my assets, I was able to retire on schedule.
How you ask?
Pay off all debts, especially credit cards! Credit cards are just legalized loan-sharking. I keep only two, and pay the entire amount owed upon receipt.
If your employer has a savings plan available (especially if they match a percentage of your investment) you should invest. As you (hopefully) receive raises over the years you need to up the percentage you're investing. If you job jump, roll that puppy over.
Think! What do you intend to do with your retirement? Travel? Kick back and go fishing? Are you happy where you are, or do you want to relocate?
I found a site yesterday which I enjoyed. There were quite a few questions, but the results were interesting. findyourspot gives you something like 25 locations where you might like to live. Due to my answers, all suitable towns happened to be located in Alaska, Montana and Colorado. I currently live in California...
Don't count on Social Security! 'Nuff said.'
As you get closer to retirement, you'll need to estimate a monthly budget. Don't forget the little things that add up, like haircuts, manicures, magazine subscriptions, Christmas and birthday gifts, and those emergency (and costly) home repairs.
So how does Margaret (pictured above) enter into this subject matter? She went to live with one of her many sons as she grew old. Now that is something I refuse to do!
posted by SierraBella | 11:40 AM
10 Comments:
Move to Montana.... we don't have a sales tax and there are lots of things to do... the downside being, well, we got about 10 inches of snow at our house last night and there is only one decent sushi restaurant in the whole state.
Cedarville, CA reminds me of MT.
Well, Homestead, I guess you got your trade-offs.
Good advice. I have heard in the last couple of years that people who do not retire live longer and are healthier. I can see that, but I wonder if it's more about staying active at something productive, more than about staying "on the job." And now, I gotta do it, "I've been workin' on the railroad, all the live-long day..."
homestead-
I Googled Cedarville and it does look like Montana, but only 228 air miles north of here!
No sales tax is a definite plus, and I love snow (especially since I don't have to commute to work!)
squirl-
I'm probably the only Californian who doesn't care for sushi, so I wouldn't mind. Heck, I haven't even gone to a restaurant but three times in the past three years. (I love to cook.)
susie-
I've seen retired folks who had no plan, and sit in front of the TV, shrivel up and die. People with interests are interesting people, right?
I glad you caught the reference to the 'railroad' song. My brother sang that to death as a young child, as well as the theme to "Batman."
I guess I'm screwed as I blew through my 401K in a panic. I got laid off from my job, yet couldn't give up my "rock and roll" habits. The compulsiveness of youth is no excuse for acting like a fool.
To get to the point, I guess there are certain lessons you learn with age. No amount of sage advice will deter us from making our mistakes.
By the way the above post was by me, or should I say my mysterious "alter-ego."
Actually, it's the i.d from my blog I use primarily for writing. Shhhh, keep it a secret. ;)
ahem, ok the above two posts are by me. Problems getting signed on.
Well hello christian aka hermes!
I knew it was you as soon as I visited your alter-ego site! Guess you just outed yourself, oops?
I've been recently pondering how to work my two sites into just one.
Sometimes it's best to get the rock and roll 'outta' your system while you're young. Although look at Mick Jagger... he's even older than me!
Drat! You caught me red handed! But be sure to keep it as our secret. I just wanted you to know because I think you write really good and wouldn't mind your feedback.
christian-
I'll have to go back and give your other site another look!
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