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Thread: Unexpected change for me

  1. #1
    Join Date
    10-22-01
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    All Over
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    32,864

    Unexpected change for me

    I have begun transitioning to retirement. Just as I was about to formalize a new 2 year contract that would take me to 79---I blinked.
    My wife continues to suffer increasingly with her back and arthritis issues and I am increasingly uncomfortable leaving her alone for extended periods of time.
    We took a 9 day vacation to the Eastern Shore of Md. and I did a lot of thinking while there and decided my time to change direction was now.

    So---I am working, in a limited capacity, from home and doing what I can to make my wife more comfortable while I work at reorganizing our finances. I just did something I have never done before----I know this might be hard to believe, but I paid off our first mortgage That mortgage can be traced back to our first home that we bought in 1969.

    We have bought a number of properties and houses that did not have mortgages but we did have two with mortgages---and are now down to one. I might get tired with that but it really does not make financial sense to pay it off.

    So far retirement feels good. Yesterday I spent the day with two former associates from Knoll and we went to a wildlife sanctuary on the Jersey shore---I think our tally for the day was 29 distinct species of mostly water birds. I hope to post a few pictures of that latter.


    A quick history on our now satisfied 1st mortgage: We bought that house for $43,500. I'm not sure how much the original mortgage was for. In 1978 when my business failed, because I was unable to collect accounts payable, I opted not to take the advise of my accountant et al and claim bankruptcy. I remortgaged and paid off all my debts---and I am glad to this day I took that route. That business failure carried over into the mortgage on this house which we bought in 1983. That mortgage was at an interest rate of 14.5% (my father thought I was committable). There were a few remortgages along the way to take advantage of falling interest rates and I think this might have had another 5 years at required payment terms to have been satisfied. So---there you have it---one down and one to go
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  2. #2
    Join Date
    10-20-02
    Location
    16 miles west of the White House, Northern Virginia..
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    Congratulations and welcome to the club..

    I don’t know how I had time to hold a “real” full time job..

    I retired twice at age 51.. been drawing pensions for 22 years.. after my “real” retirement job fell victim to the Dot Com bust I have had two “fun” jobs in retirement

    I took a “real” second job after retirement.. the market tumbled and interest rates fell lower than my mortgage rate so instead of investing my pension, I paid down/off the mortgage.. second house (daughter rents) was paid off as soon as the original mortgage was sold, original mortgage was required by developer as part of the “deal package” ( developer made it well worth our while to mortgage through them)..

    Retirement living is $$$ coming in minus $$$ going out so.. I am a firm believer in paying off what you can ..

    Congratulations.. and your new task is spoiling Ms. G….

    Note: Friend was worried about being board.. he “took over” his VFW Post.. led them out of debt and possible state takeover.. computerized their books.. did such a good job that the state “bubbas” asked for help.. he is past state skipper and is traveling monthly helping other “aging “ posts around the state.. he is anything but board..oh, he was just appointed to a state veteran commission by the governor..

    Party on retiree..

  3. #3
    Join Date
    11-22-03
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    In the Village...
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    40,835
    Welcome to Slackersville...Population: Us......Ben
    The future is forged on the anvil of history...The interpreter of history wields the hammer... - Unknown author...

  4. #4
    Join Date
    04-29-17
    Posts
    5,589
    Retirement's the best thing that ever happened to me. Had no idea how much stress I was under until it was no longer there. Now I can just piddle around at my own pace and be a country lawyer if that's what I choose to do. I mostly just help out the folks that need a little advice here and there and I don't charge a penny.
    OPINION....a view or judgment formed about something, not necessarily based on fact or knowledge.

  5. #5
    Join Date
    10-14-01
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    TEXAS!
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    Congratulations! I'm sorry for the reason but I'm glad to see you gifting yourself some time to do things you've wanted to do but were too dedicated to work to take the time off.

    To echo others who posted above, I have no idea how I managed a life and a job there simply is not enough time for both and I never realized it until I pulled the plug. Retirement is the best thing I have ever done. Leaving the stress behind really improved my health.
    The only way of discovering the limits of the possible is to venture a little way past them into the impossible - Arthur C. Clarke

  6. #6
    Join Date
    10-30-01
    Location
    Salt Lake City
    Posts
    26,179
    "I don’t know how I had time to hold a “real” full time job."
    - Sandman

    If I could agree more than 100%, I would.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  7. #7
    Join Date
    10-22-01
    Location
    All Over
    Posts
    32,864
    I have to omit that I am not yet fully "engaged" in retirement. I have to work this weekend in preparation for a meeting on Monday and then on Tuesday I have a "meeting" with a group of Irish investors. On the bright side of that, it is all being done from my home office and not in NYC.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  8. #8
    Join Date
    10-21-01
    Location
    nepa mountains
    Posts
    8,816
    congrats dave! most people i know that retire feel they are busier after they retire than before. that being said the are busy doing things they want to do instead of have to do.
    personally i have been trying to take my retirement in installments. i vacation from mid january to early march, and work the rest of the year.
    it's time to change the air in my head

  9. #9
    Join Date
    10-30-01
    Location
    Salt Lake City
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    26,179
    Quote Originally Posted by Flaco View Post
    ...busy doing things they want to do instead of have to do.
    An excellent description of what occurs during retirement.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  10. #10
    Join Date
    11-14-01
    Location
    Apache Junction, AZ
    Posts
    24,939
    Congrats Dave.
    Fred

    "Everyday I beat my own previous record for number of consecutive days I've
    stayed alive."

    trump inspires me everyday...inspires me to vote blue...inspires me to call out the insanity... inspires me to push back against any and all supporters of the small handed orange clown

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