I look upon it as, “ Here’s some money-stay home”.
I never got a raise even approaching COLA for the last 12 years I worked. I do get it on one of my two pensions and SSA. Of course they do throw in a Medicare premium increase. They will get you coming or going whether you are working or not! 
@mike.caruso posted:Peter, mind if I ask what kind of flooring did you go with? Is that some kind of laminate? Real wood? Thanks.
It's a laminate......I'll take a close up for you this week.
Peter
Hi NYC 428,
Congratulations on your retirement. Welcome to the club. I've been retired about 18 months now and don't miss work one bit. I stay in touch with the co-workers who were true friends, though most of them are also retired now. Hoping that 2022 is the year we can start getting together face-to-face. One friend has a collection of Lionel and AF trains stored since he was a young lad growing up in Chicago. If he really wants to get them running again it will be like Christmas morning!
John
@PRR8976 posted:@SIRT- Congratultions and good luck to you.
@Putnam Division- Peter, thanks for starting this up again and sharing your thoughts.
In early December, my brother-in-law passed away at 66. I am sharing that to let everyone know the importance of a healthy lifestyle so that your retirement can be continued for many years to come. I'm sure that Peter will agree that exercise is an important part of a post-working life.
Still hoping to retire by early to mid-June.
Tom
Sorry for your loss, Tom.........and yes, exercise and healthy eating are important. Leaving the hustle and bustle of the work week allows one to make better choices.......
Just leaving the stress of critical decision making and hospital prepared foods helped me lose weight......in 2021 I dropped from about 187 to about 160.....
I aim for 12,000 steps a day and am happy to report that I average 18,000......even if you are not used to moving, start small and build up.
Get regular check ups.....follow your blood pressure, cholesterol and blood sugar with your PCP.
I could go on and on........but, the bottom line......you want more time for trains!
Peter
Hi Mark Boyce,
Glad to hear that you're getting a COLA on part of your pension and of course, SS. My pension was frozen when the company got sold in 2013. The good news was that they let me start collecting after the sale was finalized. With two kids in college, I needed the money. The kids were able to graduate without student loans so they didn't start out in a financial hole. I agree with you, with the Medicare Part B premium increase, supplimental Medicare insurance increases, and inflation that SS COLA is just going to help us keep our heads above water.
John
I've been following this thread on and off for a few years. There is lots of good advice in this thread. I retired at 60, just under two years ago, after a 35+ year run as a software engineer for a large defense contractor. Pretty much everything went as planned. We built a new house, we both retired, and my wife and I moved about 1,500 miles to our new home. Putting in the yard, driveway and getting settled has taken much longer than I originally thought. I had a list of things I intended to do in retirement, including a large basement train room with layout, and so far, I haven't gotten started on one. I've had many new and unexpected opportunities come my way during the past two years. So, I'm still trying to decide what I want to be in retirement. I do miss a few things from our former home and a few things about my old job, but I'm glad to be retired and my own "boss". Hopefully in 2022, I'll take the leap and start planning/building the train room!
@CA John posted:Hi Mark Boyce,
Glad to hear that you're getting a COLA on part of your pension and of course, SS. My pension was frozen when the company got sold in 2013. The good news was that they let me start collecting after the sale was finalized. With two kids in college, I needed the money. The kids were able to graduate without student loans so they didn't start out in a financial hole. I agree with you, with the Medicare Part B premium increase, supplemental Medicare insurance increases, and inflation that SS COLA is just going to help us keep our heads above water.
John
John, Yes that happened to us when the company was sold. That's when raises were stopped and that's the pension that never has a COLA increase. The company that laid me off at age 40 is the one gives annual increases on the pension.
Incidentally, my wife retired 2 months ago, so she still hasn't gotten used to it yet. She has health issue that are more worrisome. Mine have just been orthopedic.
I know I posted on this topic when it first started. I've been retired 15 years now this month!!! Civil service didn't pay the big bucks some of the contractors got but the old CSRS retirement system has been great. Now at 70yrs old I can't see myself working a 40hr week ever again, I was working at a local golf course but walked away from that 2 years ago after 10 years in the proshop.
I've had an ongoing issue with my right shoulder since I was stupid enough (13yrs old) to get into a fight with a guy who was a foot and a half taller than me. Threw my arm out of joint but never told anybody. Has bothered me on and off ever since.
2 years ago it got to the point I had to go to an orthopedic surgeon, he said the ball and socket were shot and needed replacing. I was scheduled to have it done last March but when my blood work came back my A1c had shot up from 7.0 to 10.5!!! Too much fruit cake during the holidays.
I started walking 1.5 to 3 miles daily. A1c dropped from 10.5 to 5.6, below pre-diabetic levels. I had dropped from 215lbs to 195. Had a reverse shoulder replacement procedure done this past August and couldn't be happier with the results. Played golf for the first time since April last week.
I firmly believe the secret is...keep active, don't sit around and do nothing. Simply walking has done wonders for my blood sugar.
Bob,
Good to know things are going well for you.
As for the walking, do you do it on a treadmill, around the neighborhood or on a track?
How is the train modeling going? Please post pictures if you have any.
Tom
@PRR8976 posted:Bob,
Good to know things are going well for you.
As for the walking, do you do it on a treadmill, around the neighborhood or on a track?
How is the train modeling going? Please post pictures if you have any.
Tom
Tom- I prefer to walk outside. I can do an average of 5,000- 8,000 steps a day just walking our campus to check on projects, 75 acres and 30 buildings keep me hopping. As long as it's above freezing, I'll walk. We do have an indoor track and a full fitness center so I have options.
I shot this video the other day.
Thanks
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Well guys, its good to hear your stories and many of you I know from your posting in other threads. I am 1 year retired a/o January 2022, retiring in December 2020. It was very strange, at my age of retirement 76 years old, I had never been without a full time job or full time school since I was 15 years old. I retired from US Air Force Reserve, DOD, NASA, Defense Industry, and Baylor University at various times in my career but "retirement" just would not stick. Finally last year I decided to call it quits!
I had not had a layout since we moved from Ohio after my AF stint in 1975 so I decided I would build one so I could run some trains. Its very simple, flat, and long and narrow to fit into the space I had. I dubbed it the Leonardtown and Savannah in honor of places we lived, but mostly to get the initials L&S and thus earn it the nickname..."long and skinny". Here it is as you can see centered between bookcases that hold part of my train collection.
I only have one thing to say as advice...and I am repeating something someone said earlier. Consider carefully your medical care and that of your spouse and family. I had both military and Civil Service coverage (which I kept under Federal Blue Cross). My wife, always better at business financials than me, kept trying to get me to drop the BC as it was expensive. Then in 2018 she contracted cancer and had to undergo chemo therapy. The regime was 3 weeks on at a dose a week then a week off. This continued for nearly a year. Here is the tough part...the DRUG (not including administration, drs, and nursing care to give it) cost $30,000 per dose!! BC / BS paid every penny!! We would never have made it without that coverage.
Best wishes for a great retirement to all
Don
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600 days out and all is well! The key is staying active, paying attention to your health and having plenty to do. This AM, I walked and listened to Ian Toll's The Pacific Crucible.
I spent the entire afternoon working on the Oblong Box and Hamper Co. I painted a road on my modules (changing it from dirt to black top).
I'm very happy how this has gone down so far.
I never deleted my Countdown Clock, so now it tells me "days into retirement". When this thread started (7years ago?), I was a long way from retirement.....now it's long past. I know others are getting closer......how are your plans coming?
Peter
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Peter, congratulations!!!! I’ve been retired 2 months short of 3 years. It was forced; I hadn’t planned to go that early. I’ve spent time recovering from knee replacement surgery and lumbar fusion surgery, L3-L4-L5. I’ve also been to doctors trying to get the sciatic nerve damage to not hurt as much. I’ve accepted the floppy foot; it just makes me have to walk slower and more deliberate so I don’t trip and fall.
After all of that and spine surgeon's blessing, I have been digging some needed drainage ditches this summer. That has strengthened me past what my after PT exercises did, proof I’m doing good!!!
This Forum and this hobby have really helped me as I have progressed through the hurdles! Thank you everyone for being there for me!!! 😊
Not quite a year and a half. Haven't made the progress I'd like on the layout, but I've lost plenty of golf balls. Haven't missed work for a minute. Sometimes wonder how I found 8 hours every day for work.
Don't put it off - we never know how much time we have left.
Down to single digits. Not sure yet if its 5, 9, or somewhere in between, but I'm getting closer. 🤗
Bob
Peter,
Glad to know you are doing well and thanks for starting our topic up again. I was actually thinking about this topic a few days ago. Glad to also see others are doing well and I think Bob @RSJB18 and I may be on the same or similar retirement track...I may need 10 months though, well see. 
Good luck to all!
Tom
@RSJB18 posted:Down to single digits. Not sure yet if its 5, 9, or somewhere in between, but I'm getting closer. 🤗
Bob
Close only counts in horseshoes, hand grenades, and nuclear war 
- a bonafide retiree
Congrats to all those who have successfully transitioned to retired life. I turn 61 next month and still at work. I hope to retire in about a year, but I’m watching inflation closely before I separate from my primary income.
I couldn’t agree more with living a healthy lifestyle with diet and exercise at this age. I recently overhauled my diet and upped my exercise regimen. I lost 20 pounds and greatly reduced the aches and pains due to inflammation. I haven’t felt this good in years! My favorite exercise is swimming, but I walk up to 4 miles a few times a week when too cold to swim. Pick something that works for you, but stay active!
lots of plans for retirement when it eventually comes. Looking forward to more time with trains as a part of that!
I'm 70 and stepping on the gas in my law practice. LOL. Arnold
PS: For me long athletic walks at least 3 times per week is essential. That's gym for me. Don't stop doing gym.
I retired in January 2019 when I was in my mid 60's. When Covid hit in 2020 I decided to keep busy by getting my 65 year old trains running again so we could enjoy them when the grandkids come over. They love running them. Fast forward, I'm on version 4 of the layout, bought about 100 new/used cars and/or locomotives (mostly on eBay since train shows were suspended during Covid). I ride a bicycle about 3,000 miles a year during the warmer months here in Michigan, and I work on the trains and the layout during the cold months. The cycling helps offset the calories from my love of beer, cookies and junk food. It also keeps me fit, reduces stress, and is a substitute addiction for 6 months of the year instead of lusting after new locomotives. Finances are worrisome given the unanticipated high level of inflation over the last two years combined with a small fixed pension and the dwindling value of savings put away for retirement. Thankfully, SS is inflation protected. Hope I never have to go back to work. Definitely have to stop or cut way back on buying trains. Guess I could sell some of them to pay for some new ones. For OGR members looking to improve their health, consider getting an e-bike (I'll probably buy one in a few years). Cycling rail trails is mostly safe from traffic, easy on the knees (compared to jogging), provides a bit of adventure & a change of scenery, and the electric pedal assist can help you when you're tired and you turn around to head home.
@PRR8976 posted:Peter,
Glad to know you are doing well and thanks for starting our topic up again. I was actually thinking about this topic a few days ago. Glad to also see others are doing well and I think Bob @RSJB18 and I may be on the same or similar retirement track...I may need 10 months though, well see.
Good luck to all!
Tom
Tom- My son starts college Monday so 4 more years for the tuition remission is a must. After that we will see. According to the CEO, I'm never retiring 
Good to hear from you. How many more switchers have you bought?????
@Apples55 posted:Close only counts in horseshoes, hand grenades, and nuclear war
- a bonafide retiree
Paul- Yea, I'm not ready for the retirement clock just yet but getting down to single digits is a milestone. I'll take the win!
Bob
@RSJB18 posted:Tom- My son starts college Monday so 4 more years for the tuition remission is a must. After that we will see. According to the CEO, I'm never retiring
Paul- Yea, I'm not ready for the retirement clock just yet but getting down to single digits is a milestone. I'll take the win!
Bob
Bob,
Yes, I've bought a few more prewar steam switchers, including my first two scale ones. My wife and yours must be related as my CEO says similar things.
Regarding retirement clocks, I have not looked at mine lately. I guess it is something like negative 60 days now!
Tom
@Norb Veit posted:I retired in January 2019 when I was in my mid 60's. When Covid hit in 2020 I decided to keep busy by getting my 65 year old trains running again so we could enjoy them when the grandkids come over. They love running them. Fast forward, I'm on version 4 of the layout, bought about 100 new/used cars and/or locomotives (mostly on eBay since train shows were suspended during Covid). I ride a bicycle about 3,000 miles a year during the warmer months here in Michigan, and I work on the trains and the layout during the cold months. The cycling helps offset the calories from my love of beer, cookies and junk food. It also keeps me fit, reduces stress, and is a substitute addiction for 6 months of the year instead of lusting after new locomotives. Finances are worrisome given the unanticipated high level of inflation over the last two years combined with a small fixed pension and the dwindling value of savings put away for retirement. Thankfully, SS is inflation protected. Hope I never have to go back to work. Definitely have to stop or cut way back on buying trains. Guess I could sell some of them to pay for some new ones. For OGR members looking to improve their health, consider getting an e-bike (I'll probably buy one in a few years). Cycling rail trails is mostly safe from traffic, easy on the knees (compared to jogging), provides a bit of adventure & a change of scenery, and the electric pedal assist can help you when you're tired and you turn around to head home.
Norb,
The inflation and uncertainty in the economy is why I postponed my retirement. The last thing I would want to do is to retire and then realize that I needed to go back to work.
Post pictures of your layout when you can (if you want to).
Tom
@Norb Veit posted:I retired in January 2019 when I was in my mid 60's. When Covid hit in 2020 I decided to keep busy by getting my 65 year old trains running again so we could enjoy them when the grandkids come over. They love running them. Fast forward, I'm on version 4 of the layout, bought about 100 new/used cars and/or locomotives (mostly on eBay since train shows were suspended during Covid). I ride a bicycle about 3,000 miles a year during the warmer months here in Michigan, and I work on the trains and the layout during the cold months. The cycling helps offset the calories from my love of beer, cookies and junk food. It also keeps me fit, reduces stress, and is a substitute addiction for 6 months of the year instead of lusting after new locomotives. Finances are worrisome given the unanticipated high level of inflation over the last two years combined with a small fixed pension and the dwindling value of savings put away for retirement. Thankfully, SS is inflation protected. Hope I never have to go back to work. Definitely have to stop or cut way back on buying trains. Guess I could sell some of them to pay for some new ones. For OGR members looking to improve their health, consider getting an e-bike (I'll probably buy one in a few years). Cycling rail trails is mostly safe from traffic, easy on the knees (compared to jogging), provides a bit of adventure & a change of scenery, and the electric pedal assist can help you when you're tired and you turn around to head home.
Norb, I agree that inflation is a concern for me too. Looking at the jobs available and my lessened ability to do certain jobs makes me not want to go to work at all. I certainly can't go back to what I was doing before the forced retirement. The stress of a part time tech support job I took for a while after the retirement was terrible. Customer service at entry level pay was the most stressful work for me during my whole 45 years working. I think of the stress could do me in even with my exercise, healthy eating, and doing everything the doctor tells me to do.
@PRR8976 posted:Norb,
The inflation and uncertainty in the economy is why I postponed my retirement. The last thing I would want to do is to retire and then realize that I needed to go back to work.
Post pictures of your layout when you can (if you want to).
Tom
Tom, You are right that to postpone retirement. I had a coworker who postponed his by 2 years back in 2008 when his retirement investments took a hit. Now with inflation it is more complicated.
@Scott R posted:Congrats to all those who have successfully transitioned to retired life. I turn 61 next month and still at work. I hope to retire in about a year, but I’m watching inflation closely before I separate from my primary income.
I couldn’t agree more with living a healthy lifestyle with diet and exercise at this age. I recently overhauled my diet and upped my exercise regimen. I lost 20 pounds and greatly reduced the aches and pains due to inflammation. I haven’t felt this good in years! My favorite exercise is swimming, but I walk up to 4 miles a few times a week when too cold to swim. Pick something that works for you, but stay active!
lots of plans for retirement when it eventually comes. Looking forward to more time with trains as a part of that!
I've already done a couple of "one more year" deferrals, then I moved my exit from 12/2021 to June 2022. Now I've set it for December 2022, but am equally concerned about retiring during a possible severe economic downturn and significantly elevated inflation. Stagflation doesn't play nicely with pensions and investment accounts, but at this point, I'm starting to get trigger happy as its getting tougher to fully engage my career and staff when I'm stuck in this one foot out the door limbo.
@Strap Hanger posted:I've already done a couple of "one more year" deferrals, then I moved my exit from 12/2021 to June 2022. Now I've set it for December 2022, but am equally concerned about retiring during a possible severe economic downturn and significantly elevated inflation. Stagflation doesn't play nicely with pensions and investment accounts, but at this point, I'm starting to get trigger happy as its getting tougher to fully engage my career and staff when I'm stuck in this one foot out the door limbo.
My finance guy reminded his clients that we have one of these episodes every 8 to 12 years or so, which means that someone retiring today is likely to live through at least two or three more. (Remember 2007-8? For those who didn't panic, investments recovered in about 18 months IIRC.) In other words, it's going to happen so be sure to bake it into the plan and don't panic when it occurs. Conditions will never be perfect - if we wait for that, we'll never retire.
On the train side, I've "bought ahead" - I could bring out something new and/or start a project every week and be busy until I'm too old to care. And a great piece of advice that I've picked up from the wise folks on the forum is to do SOMETHING every day for the trains, even if it means spending only 15 minutes - it builds momentum and the progress adds up.
Pension, what is this thing called a pension? Having worked 40 plus years in the not for profit arena better known as the not for employee arena we are relying on savings, 401 contributions and ssi. The only pension my wife had was through the catholic church, they defaulted, the class action lawsuit will get under way this fall. All that being said, take a look at your circumstances and if ok give yourself permission to move on. I still enjoy the hobby, i think i have enough power and rolling stock (the horror), so the finances should hold. I am never going to build a 200 sq ft empire but i am happy with what i have and try to make it better each month.
@Mallard4468 posted:My finance guy reminded his clients that we have one of these episodes every 8 to 12 years or so, which means that someone retiring today is likely to live through at least two or three more. (Remember 2007-8? For those who didn't panic, investments recovered in about 18 months IIRC.) In other words, it's going to happen so be sure to bake it into the plan and don't panic when it occurs. Conditions will never be perfect - if we wait for that, we'll never retire.
On the train side, I've "bought ahead" - I could bring out something new and/or start a project every week and be busy until I'm too old to care. And a great piece of advice that I've picked up from the wise folks on the forum is to do SOMETHING every day for the trains, even if it means spending only 15 minutes - it builds momentum and the progress adds up.
For recessions, your "finance guy" is right. A recessionary cycle is a regular part of our economy, which expands and contracts accordingly. However, the inflation we are seeing is at highs we haven't seen in over 40 years and, combined with the two contracting GDP quarters, we are now arguably experiencing light staglation, something we haven't seen since the 1970s. Investors retiring just before the 70's stagflation saw their investment portfolios and withdrawal plans devastated due to the effects of significantly elevated inflation.
@Mallard4468 posted:My finance guy reminded his clients that we have one of these episodes every 8 to 12 years or so, which means that someone retiring today is likely to live through at least two or three more. (Remember 2007-8? For those who didn't panic, investments recovered in about 18 months IIRC.) In other words, it's going to happen so be sure to bake it into the plan and don't panic when it occurs. Conditions will never be perfect - if we wait for that, we'll never retire.
On the train side, I've "bought ahead" - I could bring out something new and/or start a project every week and be busy until I'm too old to care. And a great piece of advice that I've picked up from the wise folks on the forum is to do SOMETHING every day for the trains, even if it means spending only 15 minutes - it builds momentum and the progress adds up.
Helpful words of advise both finance-wise and train-wise!
If any of you folks have a locomotive/car/track, etc. that you are working on on the dining room table, on your workbench, on your layout, etc. I always try to encourage adding pictures as I don't want our topic to be removed for lack of train activity!
Following what I preach...My therapy for a stressful job (and then retired life) is my fleet of prewar PRR switchers...I finally bought 2 scale versions recently, which are the 701 locomotives. One was the price of a vacation (we don't go anywhere, so if we need to treat ourselves, we do that from time to time)! The other one was a slightly beaten up one (seen below) and a relative bargain, but is missing the 701T tender. If any of you have a spare 701T tender, please let me know...I can give it a good home!
I have enough of the semi-scale switchers and now scale switchers to keep me busy for 2 retirements!
Tom
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@PRR8976 - Tom I noticed on the "scale" switcher (at least I am assuming that is what you pictured) the center driver on the 0-6-0 is also flanged. Do you have trouble with that on tight radius curves?
I am now retired some 2 years and at 77 going on 78 am finally getting used to Monday just being another day! 
Best wishes
Don
@Don McErlean Hi Don,
The solution to that is that I have chosen to not only go broke collecting/operating my switchers, but have sadly chosen to stockpile (expensive) Lionel T-Rail track, too. 
The minimum (only) radius is 72". All waiting for the glorious day of retirement and figuring out where we will live (moving or not moving). 
So, I have the locomotives, the track, the hardware...just waiting. On a positive note, I did recently visit a train friend and his wife in Lancaster County, Pa. and I really loved the area. Seems to be a nice area to consider retiring to.
How many have moved later in life?
Tom
@Strap Hanger posted:For recessions, your "finance guy" is right. A recessionary cycle is a regular part of our economy, which expands and contracts accordingly. However, the inflation we are seeing is at highs we haven't seen in over 40 years and, combined with the two contracting GDP quarters, we are now arguably experiencing light staglation, something we haven't seen since the 1970s. Investors retiring just before the 70's stagflation saw their investment portfolios and withdrawal plans devastated due to the effects of significantly elevated inflation.
You are right on both; recession and inflation!
As far as the hobby, I have been working on selling some of my ‘overstock’ that I acquired when I was ‘double dipping’, severance, small pension plus being called back in a contract roll. A change in management left that project only half completed.
That doesn’t remove stress I have been building some kits and planning track rearrangement.
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PS-- @Don McErlean Don, Congratulations on your retirement (and everyone else's)!
Tom
@Mark Boyce posted:That doesn’t remove stress I have been building some kits and planning track rearrangement.
Mark, what gives? Did you hire this engineering firm? LOL! -
@PRR8976-Got it that’s a good plan. OBTW my wife’s family on her fathers side was from Lancaster Pa . You’re right it is a beautiful area …and it’s close to York!!
People are nice, climate is modest and you have the Amish influence.
Best Wishes
Don
@Strap Hanger posted:Mark, what gives? Did you hire this engineering firm? LOL! -
😆😆😆😆😆😆😆😆😆😆😆😆😆😆😆
@Don McErlean posted:@PRR8976 - Tom I noticed on the "scale" switcher (at least I am assuming that is what you pictured) the center driver on the 0-6-0 is also flanged. Do you have trouble with that on tight radius curves?
I am now retired some 2 years and at 77 going on 78 am finally getting used to Monday just being another day!
Best wishes
Don
@Don McErlean Don, By the way, very observant of you to notice the flanged center driver. The semi-scale versions of Lionel's prewar switchers had the "blind" (non-flanged) center driver.
Tom
Just turned 66. Had planed to pull the plug on 12-31-2022, but the company made me an offer I couldn't refuse for (1) more year. So now looking at 12-31-2023. I've always had multiple hobbies, Trains, Woodworking, Cars/Motorcycles. I swim approx 3-5 miles per week, ride my bike approx 20-40 miles per week (winter I move indoors and do Spin Classes at the gym), and throw in some walks. I've always setup Christmas layouts some bigger than others. Sold then bought a new home 5 years ago with a semi-finished 9 ft ceiling basement. Finished 1/2 into a wood working shop. Trains will take up about 1/2 of the remaining space. I've got plenty to keep me busy on that front and have been playing with designing different layouts & track arrangements. The latest looks like this: (working in learning how to create and add my operating accessories/structures to the plan.
Approx 14 ft x 7 Ft with the center being only 2 Ft deep. All 42" Curves and Switches (I have collected a bunch of K-Line O-Gauge 42" Switches).
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