Retirees, Those Soon To Be and the Hobby

@Ron H posted:

Steve, I sure do. We used to race occasionally at the old Bergstrom airbase out side Austin. By the way, I graduated from J H Reagan HS in 1966 way before it went ghetto.

Must have been a long time ago.   Bergstrom is now Austin's main airport.

Funny story Austin gave the land to the US Air Force to build a base I think in the 40s.  It housed the 12th Airforce for years.  The gift came with a stipulation that if the air force ever closed the base the land goes back to the city of Austin.  Years ago during all the military base consolidations, The Bergstrom base was closed and the government was looking at future use options.  The city waited till the base was closed and then stepped forward, showed the documents and ended up with a huge base with runways complete with flight clearances at no charge.

I am happy to say that I am no longer a voyeur but an official retiree on this thread as of December 30.  Looking forward to more extended layout time and tackling assorted projects that have piling up due to work. Happy New Years all! Here’s to a wonderful 2023 for all!

@Strap Hanger posted:

I am happy to say that I am no longer a voyeur but an official retiree on this thread as of December 30.  Looking forward to more extended layout time and tackling assorted projects that have piling up due to work. Happy New Years all! Here’s to a wonderful 2023 for all!

Congratulations!

@Strap Hanger posted:

I am happy to say that I am no longer a voyeur but an official retiree on this thread as of December 30.  Looking forward to more extended layout time and tackling assorted projects that have piling up due to work. Happy New Years all! Here’s to a wonderful 2023 for all!

Congratulations Strap Hanger!

Can't wait to see all the NYC Transit and LIRR expansion projects.

Bob

Dec 29 was my last day as a motorman with NYC transit   Next chapter will be train related too

@bluelinec4 posted:

Dec 29 was my last day as a motorman with NYC transit   Next chapter will be train related too

Congrats Ben.

I hear there's a little club in Patterson that's looking for help.......

Bob

Thanks Mark, Bob! Hey blue line, if I can work a NJ Highrailers trip into my wife’s retirement travel plans, I’ll buy you a beer and we can toast our mutual retirements.  Congrats to you as well!

Counting down….6 weeks to retirement !  Looking forward to better sleep & more trainroom progress.

Rich in SD

One year away and moving out of IL. We'll see what the future holds. I hope our next destination has a model railroad club and a Corvette club!

@Strap Hanger posted:

Thanks Mark, Bob! Hey blue line, if I can work a NJ Highrailers trip into my wife’s retirement travel plans, I’ll buy you a beer and we can toast our mutual retirements.  Congrats to you as well!

Congrats buddy   Beers on me !!

Congrats to both recent retirees. Hope you have a big house, and can stay out of your wife’s crosshairs!

31 months for us.  Plan on moving away from Indianapolis and hope to have a train room.  I won't have all the digital control stuff as I am firmly in the postwar American Flyer camp and some Lionel and Marx.

@Strap Hanger posted:

I am happy to say that I am no longer a voyeur but an official retiree on this thread as of December 30.  Looking forward to more extended layout time and tackling assorted projects that have piling up due to work. Happy New Years all! Here’s to a wonderful 2023 for all!

Congrats & good luck!

Tom

@bluelinec4 posted:

Dec 29 was my last day as a motorman with NYC transit   Next chapter will be train related too

Ben,

Congrats on your change to hopefully lighter duty.

Tom

I never imagined this topic would get to over 1000 posts when I started it way back when. Thanks for all who have chimed in and made it so interesting with different thoughts, concerns, ideas, whatever, etc.

I had hoped to leave in June of 2022...now planning for June of 2023, but we'll see.

Tom

Happy New Year.  Congratulations to all the recent and upcoming retirees.  I've been retired 11 years.  There is definitely more time for trains.  I've added accessories, some fancy automations, ballast, scenery, layout modifications and am currently working on a yard.  I'm a planner and builder and to a lesser extent an operator.   Don't forget space for new "acquisitions".  On the other hand, I don't see how I ever had time in my day for work (employment) !  My advise, check off all those items on your bucket list that require physical endurance and/or $$$$$ first.   Father Time doesn't have a retirement time out.

@PRR8976 posted:

I never imagined this topic would get to over 1000 posts when I started it way back when. Thanks for all who have chimed in and made it so interesting with different thoughts, concerns, ideas, whatever, etc.

I had hoped to leave in June of 2022...now planning for June of 2023, but we'll see.

Tom

Tom, I right there with ya!…was supposed to be Nov of 22, now Nov of 23 …….this time, I’m standing my ground, …..10 months & counting from today!!

Pat

@shorling posted:

Happy New Year.  Congratulations to all the recent and upcoming retirees.  I've been retired 11 years.  There is definitely more time for trains.  I've added accessories, some fancy automations, ballast, scenery, layout modifications and am currently working on a yard.  I'm a planner and builder and to a lesser extent an operator.   Don't forget space for new "acquisitions".  On the other hand, I don't see how I ever had time in my day for work (employment) !  My advise, check off all those items on your bucket list that require physical endurance and/or $$$$$ first.   Father Time doesn't have a retirement time out.

I agree 100% Steve.

Soon to be retired for 7 years,

@harmonyards posted:

Tom, I right there with ya!…was supposed to be Nov of 22, now Nov of 23 …….this time, I’m standing my ground, …..10 months & counting from today!!

Pat

One knows when he is ready, Pat.

I did and have never looked back! Every day is different, usually different than what you had planned for that day!

@Lionelski posted:

One knows when he is ready, Pat.

I did and have never looked back! Every day is different, usually different than what you had planned for that day!

I tend to agree, John but in the current market, things can get a little grey.  I did 2 “one more year” delays before pulling the plug at the end of last week.  Mentally, I was there and was definitely ready to move past the office life more than a year ago, but with inflation and the economy, as well as the current job market demand, it’s tough to pass up all the raises and other economic incentives that will only make a future retirement even better.  I was even going to go another one more year. However, ultimately the math for me worked out very well for a December departure.  Everyone has their own math that either incentivizes them them to go or stay, particularly if current health or employability isn’t an issue. I can totally understand all the posts about delaying and struggling with that date in this economic environment.  These are certainly confusing times.

Congrats Strap Hammer and congrats Ben……today marks two years since I officially retired………
I can tell you without hesitation how much I really love retirement…..every day is a new adventure…….my schedule is basically my own.

You fellows are going to love it!

My wife is still working because she loves practicing Pediatrics and taking care of children…….however, she is likely going to cut back next year. Right now, I handle all the shopping, cooking, cars, etc…..however, I have a ton of time to play with my trains, read books and excercise…..

I have new news……..one thing that will change is that I’ve been asked by the VCU Nephrology Division to cover a one day a week morning clinic at the VA. I am going to do it. The one thing that I had not reconciled in retirement is that I’m a hopeless science nerd and still read my Nephrology journals daily. The job will be basically teaching Internal Medicine  and Nephrology trainees as we see newly referred kidney patients. I’m looking forward to doing that for a while.

Once again, congrats to Strap Hanger and Ben, I wish you success and good health as you enter your new journey….

Peter

@shorling posted:

Happy New Year.  Congratulations to all the recent and upcoming retirees.  I've been retired 11 years.  There is definitely more time for trains.  I've added accessories, some fancy automations, ballast, scenery, layout modifications and am currently working on a yard.  I'm a planner and builder and to a lesser extent an operator.   Don't forget space for new "acquisitions".  On the other hand, I don't see how I ever had time in my day for work (employment) !  My advise, check off all those items on your bucket list that require physical endurance and/or $$$$$ first.   Father Time doesn't have a retirement time out.

Well said.  Totally agree regarding checking off the bucket list items - the number of healthy years in the future is very limited, and few people regret not spending more time at the office.  The biggest problem most retirees face is not knowing what to do with their time - if you're on this forum, you already have that figured out.

Two years for me in March, went as soon as I could work out the health insurance.  My suggestion is to find a reputable fee-based (not commission) financial advisor and pay for a review of your situation.  You'll also learn valuable strategies for how to tap your assets.  I understand the fear of not having enough, but my guess is that most of us are in better shape than we think.

It's easy to be frightened by the current economy, but upheavals like this occur periodically and are likely to happen again during our lifetime.  Just don't panic and cash in your accounts when they're at the bottom.

Congratulations Strap Hanger and congratulations Ben! As has been said, each situation has its own unique set of circumstances. As Strap mentioned, he postponed retirement twice. I was going to retire at the end of 2022, then pushed it back to this coming April. After going over the numbers, I’ve decided to retire in December of 2023. I work from home for the most part, and it will allow us to save some more money. Best of luck to Strap and Ben in retirement!

Andy

@Mallard4468 posted:

I understand the fear of not having enough, but my guess is that most of us are in better shape than we think.

Hopefully we didn't put all our disposable income in the bank of lionel/mth/atlas/3rd rail etc.

I came across a vendor at York this October that was a family selling a collection for another family whose patriarch had passed.   They said he bought two of everything.  One item to run, the other one to put in his "retirement" investment pool.  He had no life insurance etc.  Everything I saw was stacks of conventional stuff from the 90s and 2000s with some very used postwar sprinkled in.  I'm guessing he paid much more in the 90s than the asking prices in 2022.

@harmonyards, Pat, I’ve heard that story before, it’s funny how money can change folks minds??. I tried to retire in 2017, but my wife said let’s do our planning and make it happen April of 2018. I listened to my Sue, and retired April 30, 2018. We have had a great time, she retired April 2022 and we actually came and visited You. Happy New Year, and stay healthy, stay safe, and Pray continually. Happy Railroading Everyone

I hope to join the retired crowd in 4 to 6 years. Just need to get out of debt, almost there!

Keep at it Darrell, if you can accomplish it, it’s great to have no debt going into retirement.

Andy

No debt is definitely the way to go if you can swing it.

As I was talking to my retirement analyst.

Analyst,"lets go over your debt, how much do you owe on your home"

Me "nothing"

Analyst, "How much do you owe on your automobiles"

Me "nothing"

Analyst, "how much credit card debt"

Me "Nothing"

Analyst "REALLY!!"

Yes go debt free, even though it may not be common, it is worth it.    Many years ago my In laws retirement plan was one of them would have to die to collect insurance to pay off the debt, not a good plan. 

Oh, don't let your trains put you into debt.

@VHubbard posted:

As I was talking to my retirement analyst.

Analyst,"lets go over your debt, how much do you owe on your home"

Me "nothing"

Analyst, "How much do you owe on your automobiles"

Me "nothing"

Analyst, "how much credit card debt"

Me "Nothing"

Analyst "REALLY!!"

Yes go debt free, even though it may not be common, it is worth it.    Many years ago my In laws retirement plan was one of them would have to die to collect insurance to pay off the debt, not a good plan.

Oh, don't let your trains put you into debt.

Same here. My wife and I are very fortunate to be debt free (at 60) with healthy IRA's and 403B's, plus other investments. House, 4 cars, 1 kid through college, second started this year (I work at a college and get free tuition), and no CC debt. We've done without new cars every few years, extravagant vacations, second homes, boats, etc. No regrets.

Hopefully it stays that way.

@aussteve posted:

Hopefully we didn't put all our disposable income in the bank of lionel/mth/atlas/3rd rail etc.

I came across a vendor at York this October that was a family selling a collection for another family whose patriarch had passed.   They said he bought two of everything.  One item to run, the other one to put in his "retirement" investment pool.  He had no life insurance etc.  Everything I saw was stacks of conventional stuff from the 90s and 2000s with some very used postwar sprinkled in.  I'm guessing he paid much more in the 90s than the asking prices in 2022.

Yeah, I remember those days and knew folks like that.  Anyone who put their retirement money into trains (or any other speculative item) is rightly screwed. 

I like a lot of the MPC and early LTI stuff - my hobby has gotten cheaper due to folks like that.  I overpaid for a lot of that stuff back in the day, but didn't go into debt or shortchange my retirement contributions to do it.

As the calendar flipped yesterday, I awoke to the fact that 2023 brings "The R word" for me. June to be exact. Had my end of year call with my financial guys a few weeks ago and all systems are GO!

"They" are already working me with offers of some, er, consulting hours, but I am holding  fast!

This is my update, as I have responded to similar post(s) previously. I am three years into retirement. When I worked, I played with trains and in retirement I play with trains. No change at all. I am reader (non-fiction) and that also has not changed; I have read before and do now. I did realize, however, because I am in good health, I had no baselines for anything. So, I ramped that up and now focus very much on staying healthy.  Why? To keep reading and playing with my trains, of course.  Mark

I too am retired, in my late 70s-with reasonable health but fully aware that the candle is likely getting short ( males in my family rarely make it to their late 80s) . I was a teacher and still do some volunteer teaching as a professor emeritus. I still read my profesional journals, some books and about trains. I putter a lot around the house/garden and wife and I travel some.  I still "play with my trains'-do more scratch building of cars I have always wanted  but are not routinely manufactured-ex-just completed a PRR clearance car. I decided to do less purchasing of expensive items like engines. I also have ceased worrying what will become of my trains when I pass. It all seems reasonable to me.

I am 76, still working (from home - not very intense work either).  The trains are from my youth, all of the prewar/postwar families trains are now under my roof, plus many MPC and some more recent acquisitions.  I do not consider myself an 'operator' but I enjoy the settings, the scenes, the long passenger trains and the smaller 'work' trains, the die-cast vehicles and so much more.  The track layout (6 separate loops with sidings) never changes, but major 'scenes' come and go. The bride says when I pass, she will close the door on the train room(s) and let the daughter deal with it when she's gone.  Sounds like a plan to me.

Tom, I can’t thank you enough for this thread. I’d also like to thank all of the contributors for their real life experiences, perspectives, and advice. I have enjoyed reading the recent posts so much, that I have decided to go back and start from the beginning, and yes, read all 27 pages. I’m up to page 5 now. I’ve always enjoyed learning things, and have benefited from those who have gone through this before me. I’m so sorry for those who have experienced loss, but hope that you have found and continue to find happiness going forward. I’m grateful that we have this wonderful hobby to share with each other. As I mentioned recently, my plan is to retire at the end of this year at 61. Best of luck to all.

Andy

I'll be 75 in April and I'm going to race my Z06 one last time. I've been so blessed in my life and I can't identify any reason except that's the way the Lord called it.

Thank You Father !

@Steamfan77 posted:

Tom, I can’t thank you enough for this thread. I’d also like to thank all of the contributors for their real life experiences, perspectives, and advice. I have enjoyed reading the recent posts so much, that I have decided to go back and start from the beginning, and yes, read all 27 pages. I’m up to page 5 now. I’ve always enjoyed learning things, and have benefited from those who have gone through this before me. I’m so sorry for those who have experienced loss, but hope that you have found and continue to find happiness going forward. I’m grateful that we have this wonderful hobby to share with each other. As I mentioned recently, my plan is to retire at the end of this year at 61. Best of luck to all.

Andy

I got on board fairly early on, so it was easy to catch up.  Wow!  Eight years have gone by quickly!!  I totally agree with Andy; thank you Tom for raising the initial question!!  I have responded several times on ER the years as things changed.  Things didn’t go as planned, but we are both retired and at 66 I can say our financial advisor gave good advice.  It has been a rocky road but as Ron just said, the Lord has taken care of us!  

My last post to this topic was nearly 6 years ago, and not much has changed.  I am still working on my layout, but other non-modeling activities still take up most of my time.  Civil Air Patrol, especially the cadet program, takes up most of every weekend and one day a week.  My wife drags me out nearly every day to do a hiking, kayak, or cross-country skiing activity that takes most of the day (while I complain a lot, it is keeping me in shape).

I did mention in that old post I was not buying trains any more.  Well, I think most of the items I have have been purchased since retirement since I have more time to go to train shows, especially York.  I buy only newer scale products with, or soon to have, command control.  My biggest concern is not failure of the electronics, which can be replaced, but failure of a mechanical item (gear) which is no longer available.  Maybe 3D printing will alleviate this.

My wife, who supports my hobby, does question the increased train buying when I still only have a semi-completed layout.  She is really pushing me to work on the layout more, especially the engine terminal area.  (She enjoys reading, which she does while I work on the layout or read the OGR forum.)

Maybe I will finish the layout, or it will be a work in progress for the rest of my life.  Right now I am keeping busy and active with Civil Air Patrol, doing things with my wife, working on the layout when I feel like it, and enjoying retirement.  Life is good.

Reading these posts I’m struck by the number of members that are reluctant to start a new project because at their age, I’m 78, they fear they may not have time to finish. It doesn’t matter if you drop dead on the way home from the train store and never get to see that new treasure on the layout. It’s the journey not the destination that matters. Just keep plugging on as if you were going to live forever.