16 Replies Latest reply on Aug 12, 2010 3:40 PM by dlparker

    Working after retirement

    KenC

      I have three years before I can retire at the age of 55. I started a business repairing and selling slot machines several years ago. It has been successful and I wish I could afford to retire now but the medical insurance plays a big role in my decission to wait out the next three years. My business' website is www.OhioGaming.com.

      I am curious if any others are going to start or have started a business that they will be doing after retiring from their current employment.

      Thanks for reading,

      Ken

        • Re: Working after retirement
          howyou

          Well, Ken.  It sucks to be a non-governmental employee (city, county, state, federal).  From my personal experience with family and friends, those with guaranteed healthcare--or as my sister says, "legacy" insurance have it made.  They will have free or very affordable insurance/healthcare until death.

          Like you, I am not so lucky.  I would like to retire, actually work part-time, and let some young college grad have my job.  But, because I do not have a guaranteed healthplan, it appears I will die at my desk.  I have many friends in the same boat.

          Give me affordable healthcare or give me--bankruptcy or death.  Rock on.

           

           

            • Re: Working after retirement
              howyou
              oops,  typo.  Should have stated, "...sucks NOT to be a government employee.
                • Re: Working after retirement
                  BillStruve
                  Retire?  Why?  I've retired once after spending 19 years teaching, only to spend another 18 years doing computer programming and managing that I'll retire from at the end of this December.  But I'll still not be "retired" since I started a company a couple of years ago that makes metal clays for artists and jewelers.  I've always enjoyed learning, work, and play, and playing at work.  There are lots of things left to do and enjoy and any age is a good age to enjoy life (I'm 71).  Starting a third career sounds exciting to me...
                • Re: Working after retirement
                  leti
                  I, too, howyou, would like to bail from full time job and seek part time work. It's the insurance, stupid...Is there no alternative for people like us? No insurance "pools"? Can we start one, since our Congress, it seems, will rest content to look after themselves and leave us to die at our desks...
                    • Re: Working after retirement
                      howyou

                      Heard on MSNBC last night one of the options now on the table in COngress is moving the age for eligibility for medicare to 60 and possibly 50 or 55.  I am calling my Senators and COngressman TODAY in support of medicare for those of us over 55.

                      It is a win-win.  Gets us out of full-time employment and lets younger people move into careers.  Many people I work with are only here because of healthcare.  This bill would allow people 55 and over time to care for grandchildren or parents or volunteer in our communities.

                      I think it will help unemployment, archive Frontline on Oct. 30.  John Galbraith, a PHD economist says the same thing.  This needs to be a grassroot movement to get Congress to pass this legislation.

                      I am more than ready to let a young professional have my job.  All I am waiting for is affordable healthcare.

                        • Re: Working after retirement
                          LRC
                          Yes, i agree.  Sure hope they will allow people age 60 and over to get Medicare.  It will be wonderful and help our community as well.
                            • Re: Working after retirement
                              Maggie1078
                              Please keep in mind that not everyone agrees with you.  We knew the rules like you knew the rules.  We worked 45 hard years till we were 65 to get medicare and enjoy it.  Reducing the age limit to 55 is just a move toward more socialism and government handouts at the expense of those who paid our dues.  You are also asking our children and grandchildren to pay the dues.   You are simply saying that you want government to take care of you, rather than taking care of yourself.  We would all have loved to retire and get medicare and enjoy our grandchildren at 55.  We enjoy it more at 65.  If you cannot work past 55 becuase you have physical or mental limitations, that is a different story.
                                • Re: Working after retirement
                                  cnogan

                                  Even if the Medicare age was reduced to 60 it would have a great impact on the number of people able to retire, there by opening up jobs for the younger people who have lost employment thru no fault of there own.  This is not just about us, people are in trouble and seniors able to retire with healthcare would help.  Just a thought!

                                  • Re: Working after retirement
                                    TriManJerry

                                    Maggie1078

                                    I agree with you.  My wife and I lived within our means, worked hard and become debt free at age 50.   We were able to retire at age 62 (3 years ago) and are now enjoying a very comfortable retirement which includes lots of travel and recreation as a result of "doing it right".   "Doing it right" also includes exercising and staying healthy personally as well as healthy financially.  

                                    I call this personal responsibility.  What Americans need a good dose of!!!!!!

                                    TriManJerry  (Triathlon Man Jerry)

                                      • Re: Working after retirement
                                        auwekamanu
                                        That's great, Jerry.  It may work for you, or it may not.  I had a wonderful friend who did all the right things, including sailing hiking, exercising and living right.  Coming back from a trekking expedition in Central America, he got a headache and died of an aneurysm.  "Sometimes the magic works, and sometimes it doesn't", to quote Dan George in Little Bigman.
                                          • Re: Working after retirement
                                            Khatlady
                                            Hmmm, I have worked hard all of my life and thanks to the actions of others, lost over 60% of my retirement funds.  My condo has dropped in value almost to the point of what I paid for it.  I have lived below my means most of my life and that hasn't been rewarded. 

                                            My losses are due to  other people's recklessness and now they are whining about bonuses.  I may never be able to retire. 
                                              • Re: Working after retirement
                                                auwekamanu
                                                It will be important to hold the course.  I hope that you haven't changed investments during the downturn.  It is difficult as you see your grains slowly(quickly) disappear, but if you thrash around changing investment vehicles, you may just codify the losses that you have taken.  Be careful and dollar cost average into your asset classes during the downturn.  Look at units piling up, not assets.  When the tide turns it will rush in!
                                                • Re: Working after retirement
                                                  dlparker
                                                  I hear you brother. We are in the same boat and can even fish because we can not afford the worms.