Wednesday, April 26, 2006

What Do I Want To Do When I Grow Up?

It's interesting that this was posed as a subject for a blog yesterday because a fellow co-worker and I were having the discussion about what to do for retirement. We both decided that we are tired of the responsiblilty and the drudgery of getting up and going to work. And neither of us are in a position to retire - I'm not old enough and although he's just barely old enough (early retirement in our company can start at age 50 - at least through this year - if you have the "points"), he has one son in college and the other is in Jr. High.

So what do I want to do with retirement? Until our company was sold last year, I thought I would retire from it when I hit 55 because of a grandfather clause regarding retirement benefits that would expire in 2012 - the year I turn 55. Now that we have been sold, I don't know. The grandfather clause still plays for the retirement benefits I had accrued through the sale date, but not for current/future benefits.

And my Mom is still working part-time at age 73. So do I really want to quit working at 55? I don't think so. But I could take retirement with this company and find something else to do. The question is what? And that is the answer I don't have at this time. I think I would like to move closer to my sister and my niece, but what if my Mom is still around. Would I be able to leave her - and what if Kathy and Audrey don't live near one another then? What would I do with myself? I don't think I would be financially set for full retirement, but could I live off of a lesser paying job or part-time work? I know some people that have gone into consulting, but some of them work longer hours than I do now. Would that be rewarding enough to offset the aggravation?

I think I will pull a Scarlett and think about it another day.

4 comments:

Meg said...

it's fascinating to me that so many of us look at retirement as a step towards something new, instead of an end. I hope you are able to stay, or move, close to family, I know how much they all mean to you.

You've got until 2012? Don't stress today!

Bethy said...

It's a bit overwhemling, isn't it! So many choices. I guess that's a good thing! Also sounds a bit scary.

Anonymous said...

We retired in 2002 and highly recommend it. Plan ahead, explore all the options, and let the exploring and decisions be be part of the fun. Six years before we did it we knew we'd sell the house, get out from under the stuff, buy an RV, and hit the road. No regrets and no plans to hang up the keys.

Karen (Fulltimer RVer)

glynis said...

So many things to think about...I'm sure that no matter what you decide, it'll be the right thing. And hey, like you said, you have a little while to think about it!