Retirees, Those Soon To Be and the Hobby

Much wise advice there, Leapin Larry! Thanks for the picture to spiff things up a little. 

Tom (Your friend and B&O wagon top caboose customer)

I'm amazed this thread is still going on.  Plenty of interesting posts here, so I'll comment on just a few from the (currently) last page:

yes, retirement will probably have many advantages, and then time management becomes a priority, honey do's have to be acknowledged...

This actually true.  There's always something that needs to be done around the house, and because my wife has a few physical limitations (nothing serious, thankfully), I have to do most of them.

The time management thing is real, though.  I'm constantly having to chase around town working out (at the YMCA), shopping, running errands or taking one or another of us to doctor's appointments.  In fact, even as I type this, I've got one eye on the clock so I can get to my doctor's office on time.

Ideally, I'd like to divide my time among my hobbies of music, trains and shooting.  But although I certainly have vastly more leisure hours to devote to all of them than I did when I was working, I do have to plan my personal activities around domestic responsibilities, too.

...a real permission to purchase new trains will be in order, (no way to really hide money that's direct deposit)

When I read that sort of thing, I'm never sure whether it's said in jest or not.  In any case, neither my wife nor I need "permission" to indulge in our hobby activities.  We trust each other not to spend more than the budget allows.  In my own case, I sock away a little cash at the end of every week for the "Train Fund," so when something comes up at a train show or online sale, I can spend without impacting the household finances at all.

(As an aside, hello, Leapin' Larry!  I bought a Lionel S1 NYC electric from you a couple of years back, and it's still among my favorite locomotives!)

***

I remember my Dad when he retired stating that he had more personal time when he was working than he did when he retired. I guess my Mom kept him busy.

Certainly not true for me.  I'm finishing hobby projects now that I put off for years, due to lack of time while I was working.

***

Trying to find a good doctor in Central Virginia is tuff around  these parts. We are thinking of moving back to Pennsylvania.

I've lived in rural PA for most of my life, and love it.  I don't think you'd ever regret such a move.

***

...whether we end of moving when I retire is the big unknown.

I've been retired since 2010, and it's still an unknown for us.  There's too much creeping "development" going on around our area for our liking.  

***

My days went from getting up at 5:00 AM to getting up at 8:30 AM.  I used to hit the sack at 10:30 or so.  Now it's midnight.

Same here!  I was even getting up at 3:30 AM for a while.  No more of that.

***

Time is a huge problem still.  Seems between settling in, food shopping, doctors and errands it eats up the day.  I spend quite a bit of time at the gun range as I have found an affinity for firearms here in the West.

I found one in the East, too!  You're right about the miscellaneous errands eating up the day; see my remarks to Leapin' Larry above.

***

Almost cashed it in from an Agent Orange Widow Maker Heart Attack 3 years back.

I hear you, friend.  Agent Orange had nothing to do with my own case, nor did I have an actual heart attack.  But a plugged "widow maker" artery nearly brought me to one, in 2012.  It took  emergency heart surgery to get me around it.  It was no fun.

***

Screw this BS, I am not working for this corporation any longer enduring their BS. Company changed over the years...

Ah feel yore pain.  I was so sick and tired of butting heads with the administration of the university where I taught that the day I retired was like ascending to a higher plane.  I've never missed it for an instant.

I retired a little earlier from BNSF, than I had originally anticipated.  My boss, a year younger than I was approaching his 60th birthday in November, 2007, and I did not feel like breaking in another boss, so I pointed out the pension advantages of retiring on the last day of the year, and we both retired on December 31, 2007.  It's been ten years, and I have no regret about not staying until I was 65, my original plan.  Financially, it has been about even, as I have a very good income and no business expenses.  I got right to work on building a layout, saw that it was not going as well as I had envisioned and started over with Trainworx, who had a very nice, if small, layout running trains within four months.

My only regret is that, when we moved to Amarillo in 2004, we were unable to find a satisfactory house with a full basement.  They are not common here.  There was one home with a full basement, an elegant house built in 1941, but it had been owned by the same couple for 60 years and still had old-style piping and wiring, and I could see that it would require a significant investment to bring it up to modern standards of plumbing and wiring, so we settled on a home in a perfect location, with a large playroom upstairs, where the model railroad layout now resides.

And we celebrated my retirement.  As soon as school was out in 2008, I chartered the private car General Palmer on the Durango & Silverton, and treated my retired boss and his wife, some other railroad friends, longtime friends Stan and Brenda Kistler, and our six children and (at that time) seven grandchildren.  They only issue 16 tickets for the Palmer, so I had to buy 22 sets in the car ahead and all were welcome to ride in the Palmer.  You can't go wrong when you celebrate retirement with steam locomotion.

This is my longtime railroad pal, the late Rod Riley -- a former Emporia Conductor and later a Manager of Rules -- taking a short siesta as the car rocked gently along.

NMCW,

   Dennis my health problems are pretty much behind me now, although I due take meds and should not pick up anything over 80 LBS due to the Stent near my heart.

Life here in Western Pa is good for me and my wife, however my ultimate home is in Potter/Tioga County in North Central, Pa, where I have land in both counties.  Pay my county taxes to Tioga and my school taxes to Galeton, School District  in Potter County, because of where my place is located on the county line.  We have a real nice Log Cabin just off Pine Creek, and I love it there, in fact it's where I was born.  I still teach Fly Fishing and use to train a lot of gun dogs until this last year, closed the dog training end of my retirement business, because I have to be a lot more careful about what I am doing these days.

My O Gauge Trains keep my engineering mind busy, and as I indicated I have my fantastic memories of my Boss and my few other close friends, most all moved upstairs now unfortunately.  CPT Denny Boyce retired Coast Guard and my best friend LT Commander Daniel Kearns, US Navy are still with me however.  

Opened our new home just recently for people to visit and my wife really enjoyed it.   The new Train Room was a big hit.  People stayed till late in the evening, for me it was a very long day.

Interfacing with the OGR members means a lot to me, it puts things in perspective and men like MikeG,  MartyE and others have been real nice to me.  Which because of my  main Career as a US Army CID Special Agent, seldom if ever happened during my working career.

Dennis thanks for taking an interest, I truly appreciate it.

PCRR/Dave

In our new home for Christmas, nothing could be finer.

The formal Living Room

The Train Room/Bar

Tom,

   I am sorry about your best friend moving up stairs, hope you are OK.  You will always have the memories.

God's Speed sir,

PCRR/Dave

Pine Creek Railroad posted:

NMCW,

   Dennis my health problems are pretty much behind me now, although I due take meds and should not pick up anything over 80 LBS due to the Stent near my heart.

Life here in Western Pa is good for me and my wife, however my ultimate home is in Potter/Tioga County in North Central, Pa, where I have land in both counties.  Pay my county taxes to Tioga and my school taxes to Galeton, School District  in Potter County, because of where my place is located on the county line.  We have a real nice Log Cabin just off Pine Creek, and I love it there, in fact it's where I was born.  I still teach Fly Fishing and use to train a lot of gun dogs until this last year, closed the dog training end of my retirement business, because I have to be a lot more careful about what I am doing these days.

My O Gauge Trains keep my engineering mind busy, and as I indicated I have my fantastic memories of my Boss and my few other close friends, most all moved upstairs now unfortunately.  CPT Denny Boyce retired Coast Guard and my best friend LT Commander Daniel Kearns, US Navy are still with me however.  

Opened our new home just recently for people to visit and my wife really enjoyed it.   The new Train Room was a big hit.  People stayed till late in the evening, for me it was a very long day.

Interfacing with the OGR members means a lot to me, it puts things in perspective and men like MikeG,  MartyE and others have been real nice to me.  Which because of my  main Career as a US Army CID Special Agent, seldom if ever happened during my working career.

Dennis thanks for taking an interest, I truly appreciate it.

PCRR/Dave

In our new home for Christmas, nothing could be finer.

The formal Living Room

The Train Room/Bar

  

  

PCRR/Dave,

  Glad you are doing better. Thanks for posting a couple of pictures. My wife would like that teddy bear! 

  Looks like you found room to squeeze in the Hell Gate Bridge in one section. Everything looks really nice. 

  Good to know that you teach fly fishing. If I ever get time, I may look you up! 

Tom 

Tom, yes, we decided on Texas. Clean air, low taxes, very friendly people, warm weather longer than the current location. We will be rural and that is a trade off. Small country stores, no big box unless you drive a half hour or more. Same with hospitals and doctors, half hour minimum. You can actually see millions of stars at night. Its REALLY dark at night, and quiet. Already have the guns for the wild pigs and coyotes. The hardest thing is picking everything for the new house. Doors, floors, faucets, counter tops, stone, wood, its maddening. Since we bought the land, they have not made any more...... Health has tossed me for a loop. I had spine surgery last fall. I WILL miss my spine surgeon, he is the best. Now its intestinal pains. As some have said, its a race to the finish sort of. Friends passing away left and right. One good friend is in the hospital as I type on his death bed from cancer. A Mustang friend suddenly passed in May of last year. A train buddy a year ago from cancer after enduring treatment for a year. He started with intestinal pains. That is why I want to know why I'm having them and hope its not the same cause, just that I AM just full of it. I feel your pain working for a state in the northeast. I do too. I work with some really fantastic people though, so it makes it easier to cope. If I work 20 years they continue to pay their full share of my benefits. I need that, it would be insane not to with the cost of medical and other benefits today. I originally thought it was this year, nope, that is when I become eligible for SS and Medicare due to age, my pension and benefits anniversary calculates from 1999.

LeapinLarry, the secret to never having to ask permission with direct deposit is to have separate accounts. My wife and I have had separate accounts since we married 15 years ago. We never fight about money. I pay my bills, she pays her bills, we both chip in for the mortgage and utilities, and we spend the rest on what ever we want. It works.

Balshis, its not a Honey Do List. Its a Scroll. You can studiously check off item after item on that "list" and it never seems to get shorter. Because wifey, aka "Tha Boss" comes along and cranks that handle and more items appear on that "list". None of us can escape!

Tin

8 years to go working till 70

Don,

  I'm familiar with with your fabulous layout. I'll ask the same thing to you that I've asked a few others if you could answer. Have you thought about once you retire, do you think you would stay put in NY or might you move? 

 Tom 

Number 90 posted:

I retired a little earlier from BNSF, than I had originally anticipated.  My boss, a year younger than I was approaching his 60th birthday in November, 2007, and I did not feel like breaking in another boss, so I pointed out the pension advantages of retiring on the last day of the year, and we both retired on December 31, 2007.  It's been ten years, and I have no regret about not staying until I was 65, my original plan.  Financially, it has been about even, as I have a very good income and no business expenses.  I got right to work on building a layout, saw that it was not going as well as I had envisioned and started over with Trainworx, who had a very nice, if small, layout running trains within four months.

My only regret is that, when we moved to Amarillo in 2004, we were unable to find a satisfactory house with a full basement.  They are not common here.  There was one home with a full basement, an elegant house built in 1941, but it had been owned by the same couple for 60 years and still had old-style piping and wiring, and I could see that it would require a significant investment to bring it up to modern standards of plumbing and wiring, so we settled on a home in a perfect location, with a large playroom upstairs, where the model railroad layout now resides.

And we celebrated my retirement.  As soon as school was out in 2008, I chartered the private car General Palmer on the Durango & Silverton, and treated my retired boss and his wife, some other railroad friends, longtime friends Stan and Brenda Kistler, and our six children and (at that time) seven grandchildren.  They only issue 16 tickets for the Palmer, so I had to buy 22 sets in the car ahead and all were welcome to ride in the Palmer.  You can't go wrong when you celebrate retirement with steam locomotion.

This is my longtime railroad pal, the late Rod Riley -- a former Emporia Conductor and later a Manager of Rules -- taking a short siesta as the car rocked gently along.

Tom,

Sounds like you did well to get out early.  Your retirement party/outing sounds pretty cool. Yes, you can't go wrong with a steam locomotive at any type of party.  

I did not realize Texas doesn't doesn't have a lot of basements.  I know Florida doesn't, I guess because of the water table. 

 Tom 

LionelTin posted:

Tom, yes, we decided on Texas. Clean air, low taxes, very friendly people, warm weather longer than the current location. We will be rural and that is a trade off. Small country stores, no big box unless you drive a half hour or more. Same with hospitals and doctors, half hour minimum. You can actually see millions of stars at night. Its REALLY dark at night, and quiet. Already have the guns for the wild pigs and coyotes. The hardest thing is picking everything for the new house. Doors, floors, faucets, counter tops, stone, wood, its maddening. Since we bought the land, they have not made any more...... Health has tossed me for a loop. I had spine surgery last fall. I WILL miss my spine surgeon, he is the best. Now its intestinal pains. As some have said, its a race to the finish sort of. Friends passing away left and right. One good friend is in the hospital as I type on his death bed from cancer. A Mustang friend suddenly passed in May of last year. A train buddy a year ago from cancer after enduring treatment for a year. He started with intestinal pains. That is why I want to know why I'm having them and hope its not the same cause, just that I AM just full of it. I feel your pain working for a state in the northeast. I do too. I work with some really fantastic people though, so it makes it easier to cope. If I work 20 years they continue to pay their full share of my benefits. I need that, it would be insane not to with the cost of medical and other benefits today. I originally thought it was this year, nope, that is when I become eligible for SS and Medicare due to age, my pension and benefits anniversary calculates from 1999.

LeapinLarry, the secret to never having to ask permission with direct deposit is to have separate accounts. My wife and I have had separate accounts since we married 15 years ago. We never fight about money. I pay my bills, she pays her bills, we both chip in for the mortgage and utilities, and we spend the rest on what ever we want. It works.

Balshis, its not a Honey Do List. Its a Scroll. You can studiously check off item after item on that "list" and it never seems to get shorter. Because wifey, aka "Tha Boss" comes along and cranks that handle and more items appear on that "list". None of us can escape!

Tin

Tin,

Good luck with your medical issues. My wife has had Colitis/Crohn's for around the last 40 years. 

I'm lucky to work with some nice people too. I try to remind them they all need to stay put for another 4-5 years so I don't need to be dealing with others, but my plans don't always work. 

Separate accounts? I would have liked to been a fly on the wall when you negotiated that! Where were you with this advice 28 years ago? 

Any train sights or train stores or train shows in your new location? 

Tom 

dk122trains posted:

8 years to go working till 70

7 more days until I'm eligible. But with a 4 day work week, good $, insur, 6 weeks vaca. and easy work, I'll stick it out a little longer.

  Been riding the15 yr. wave so far until they kick me out some day. 

SIRT posted:

dk122trains posted:

8 years to go working till 70

7 more days until I'm eligible. But with a 4 day work week, good $, insur, 6 weeks vaca. and easy work, I'll stick it out a little longer.

  Been riding the15 yr. wave so far until they kick me out some day. 

SIRT---A 4 day work week! Another one of my favorite subjects. In 1971, there was a book which was called 4 Days, 40 Hours by Riva Poor. At the time, it was thought that it could revolutionize working in the US. Unfortunately, it never caught on, so far. Almost once a week, I think about who decided...why not? Glad it's working for you. See you on Switcher Saturday. 

Tom 

MNCW posted:

Don,

  I'm familiar with with your fabulous layout. I'll ask the same thing to you that I've asked a few others if you could answer. Have you thought about once you retire, do you think you would stay put in NY or might you move? 

 Tom 

Not moving happy where Iam.

SIRT posted:

dk122trains posted:

8 years to go working till 70

7 more days until I'm eligible. But with a 4 day work week, good $, insur, 6 weeks vaca. and easy work, I'll stick it out a little longer.

  Been riding the15 yr. wave so far until they kick me out some day. 

I've been same place same career for 43 years.

dk122trains posted:

I've been same place same career for 43 years.

                               You got my career beat by only 2 years.

                                              Keep on truckin! 

Tom,

We recently moved to a 55 and over gated single family homes community after living in a regular single family home for 30 years. The neighborhood was changing over with young couples moving. Time to move with home prices rising. Don't have a layout here but I am3 miles away from my train club so I can run anytime there.

Ted

Gilly@N&W posted:

FireOne posted:

 I would like your out of the box solutions for suburban dwellers (cannot add on).

Anyone have a two bedroom house with a six car garage for sale?

Chris Sheldon

Form a modular train club in your area. Buy a trailer and store offsite if necessary.

My best friend in Montpelier, VA has a 2500 ft2 house with a 3500ft2 garage. Two double drive-through bays and one single. In the loft it has an apartment w/ full bath, wet bar, pool table / TV room, and a bedroom.

Gilly@N&W, excellent idea about the modular train club, I can share in a dream layout, share the costs and make new friends.  I will still have to deal with eventual downsizing of our home of 14 years partly due to maintenance issues (pool) and partly because real estate prices are going bonkers here and I would be crazy not to consider selling on a high note.  Will probably rent for a few years until the next bust and buy another one for 1/2 the price.  A modular layout removes the layout from moving issues.  Plus if I can trade the garage layout for a modular one I will have room for another hotrod.  I will make it a comfortable one because I will probably be sleeping in it when my wife finds out I am looking at another car.

Thanks for the input guys!

Chris Sheldon (FireOne)

MNCW posted:

Peter,

  With your reduced working hours, does it trickle down to giving you more time on your layout, so far? 

Tom 

Tom........the advantage of "no nights, no weekends " is that all the weekends are free and no more crashing after 36 straight hours of working......Realistically, the weekdays are limited for layout time because I still work 12+ hour days. The weekends are heaven, and that's when I get the majority of my layout work done.

Peter

MNCW posted:

I was wondering how much train related stuff retirees get to do once they are retired...like what's your "Train To Do List" like? 

 

For those soon to retire, any big plans?

 

I need 7.5 years if all goes well. Seems like 750 years sometimes!

 

Tom 

Retirement is great but don't wish away a single year of you life. Enjoy each and every one. In fact, savor them to the point that time seems to slow down a bit. You'll get there soon enough - honest. My layout continues to grow and my wife and I have used some of our "free" time for rail travel and train watching activities. And, IRONICALLY, I have secured a part-time job to help fund my growing train interest. 

MNCW posted:

LionelTin posted:

Tom, yes, we decided on Texas. Clean air, low taxes, very friendly people, warm weather longer than the current location. We will be rural and that is a trade off. Small country stores, no big box unless you drive a half hour or more. Same with hospitals and doctors, half hour minimum. You can actually see millions of stars at night. Its REALLY dark at night, and quiet. Already have the guns for the wild pigs and coyotes. The hardest thing is picking everything for the new house. Doors, floors, faucets, counter tops, stone, wood, its maddening. Since we bought the land, they have not made any more...... Health has tossed me for a loop. I had spine surgery last fall. I WILL miss my spine surgeon, he is the best. Now its intestinal pains. As some have said, its a race to the finish sort of. Friends passing away left and right. One good friend is in the hospital as I type on his death bed from cancer. A Mustang friend suddenly passed in May of last year. A train buddy a year ago from cancer after enduring treatment for a year. He started with intestinal pains. That is why I want to know why I'm having them and hope its not the same cause, just that I AM just full of it. I feel your pain working for a state in the northeast. I do too. I work with some really fantastic people though, so it makes it easier to cope. If I work 20 years they continue to pay their full share of my benefits. I need that, it would be insane not to with the cost of medical and other benefits today. I originally thought it was this year, nope, that is when I become eligible for SS and Medicare due to age, my pension and benefits anniversary calculates from 1999.

LeapinLarry, the secret to never having to ask permission with direct deposit is to have separate accounts. My wife and I have had separate accounts since we married 15 years ago. We never fight about money. I pay my bills, she pays her bills, we both chip in for the mortgage and utilities, and we spend the rest on what ever we want. It works.

Balshis, its not a Honey Do List. Its a Scroll. You can studiously check off item after item on that "list" and it never seems to get shorter. Because wifey, aka "Tha Boss" comes along and cranks that handle and more items appear on that "list". None of us can escape!

Tin

Tin,

Good luck with your medical issues. My wife has had Colitis/Crohn's for around the last 40 years. 

I'm lucky to work with some nice people too. I try to remind them they all need to stay put for another 4-5 years so I don't need to be dealing with others, but my plans don't always work. 

Separate accounts? I would have liked to been a fly on the wall when you negotiated that! Where were you with this advice 28 years ago? 

Any train sights or train stores or train shows in your new location? 

Tom 

Tom, the soil in Texas is unstable. You can drive down a nice two lane road and all of the power poles are cattiwompus. The new house will have pilings under the slab to keep the place from cracking.

My wife and I talk about everything. She does not have a greedy bone in her body. she asked how do you want to handle the bills. I said its best that we each have our own accounts. We each pay our own created bills, we pool a certain amount each check for the utilities and mortgage, then what ever we each have in our accounts is ours to do what we wanted to with. If either of us has an emergency the other chips in. The alternative is what ever you sell on the sly for cash gets stashed in your sock drawer. I've gotten caught with several hundred in a drawer a few times.

As for work, I've been there so long, it makes sense to stay the extra few years when I got to reading the Pension office paperwork.

Tin

These has been a very helpful and interesting thread, and I thank you all for sharing your stories. Most of us seem to be at an age when we at least think about retirement, and of course when one thinks of retirement one thinks of your hobbies and the money available to pursue them.

This thread has also been helpful to me because it has made me reflect on what my own retirement will be, and when it will begin.

So here's my contribution.

I'm 63, soon to be 64. I have two rather nice defined benefit pensions from my two former careers in Hollywood acting and writing. I realize how lucky I am to have old-fashioned pensions. I retired from Hollywood in 2001 and began teaching middle school in 2006, so I also have a third (much smaller) pension I'll be able to collect from being a teacher. I also am an adjunct university professor, and after I retire from teaching I think I'll keep doing that as long as they'll have me, because I enjoy it. 

I hope to wait until 66 to collect SS. With all of the above, we should do alright financially. However, the great unknown is our growing property taxes, and what our tax liability will be now with the new tax law--Oregon has high state taxes. We are considering eventually moving, but where? We are basically not the rural type--we are city people (I'm a New Yorker).  So, we are looking at lower tax states that are still near big cities that have good climates. Perhaps Colorado? Don't know.

I have been buying trains for sometime, and I run them on the floor. I am not interest in modeling, I'm a toy train guy, but I would like to get them up on a table with the green carpet and accessories and buildings, but never permanent. I like changing up the layout.

I have other interests as well: I'm a painter, and sell a few thousand dollars of paintings on Ebay every year that fund my other hobbies. I like astronomy, but already have plenty of equipment. I am a writer, and so I'd love to start writing again, but teaching full time doesn't leave much time.

The last question is when to retire: I could do it in June, although I'd have to buy health insurance for 6 months. Or I could go another year until I'm 65. I'm anxious to have more time, and run my trains, and paint, and travel and write books. So, I have to decide when the big date will be.

Thanks again for sharing your thoughts!

Speaking of when to retire...Here is an article in The Atlantic from 2015 about when Americans think they will retire:

 https://www.theatlantic.com/bu...ent-age-work/396464/

The article mentions, "Only 29 percent of those surveyed expect to retire within that ideal 60-65 age range." To me, that seems low. 

---------------------------------------------------------------------------

Here's an online posting on CNBC from 2010 about retirement which mentions that only about 5% of seniors (55 or older) relocate:

https://www.cnbc.com/2015/11/0...-move-head-here.html

To me, that also seems low, considering there are so many states that retirees may want to flee from in retirement to pay lower taxes. 

Tom 

At the rate things are going in today's American work place, the average worker whether salaried or hourly, is going to have to keep working longer than even my generation did.  I am seventy.  I was fortunate enough to have retired at fifty-seven, from the Carpenters Union.  I retired with an good pension, an employer paid annuity and my supplemental health insurance is underwritten and paid for to a generous degree by the union.  

In today's corporate world, there is much less of a partnership between labor and management, so all of the benefits that organized labor fought for have dwindled decidedly.  Forty years ago, 30 percent of labor was unionized.  Today that number is down to seven percent.  And even if you were not in a union, your wages and benefits were influenced by unions.  

Without organized labor, the average worker has much less clout in the work place.  Add to that the influx of illegal immigrants, which corporate America loves, further diminishing the strength of Americans in the work place.  

So to answer your question as to why you think the 29 % number seems low, it's because of what I just explained.  

Gentlemen,

   Now that people are living a lot longer due to modern medicine, the younger generations will end up staying at work and not retiring at the age Dan P and I were able to, that is except for the Military soldiers.  I still believe there will be a 20 year and out program for the protectors of our nation.  

The SS Retirement program will absolutely change, the politicians have been stealing from SS for generations now for people who absolutely should not be on the program.

Unfortunately the bottom line is the younger generations are not going to be able to retire at the age we did, unless they invest their own money in a retirement plan.  The smart one's are already planning for this in different manners.  They will however need to make sure the Government can not steal their retirement package, which the government is trying to do even now.  The push to grab your 401K is going on right now.  

The one good thing is Obama Care is pretty much dead now, the individual mandate is legally gone, and this will help the younger generations big time.  They will not have to support Socialized medicine, so they will have a chance to retire, in their 70's at least, if they are careful.

Those of us who are retired now are lucky, we lived in an era where we worked hard and have been able to retire, I hope and pray the younger generations get to accomplish the same thing.

Tom,

   I agree the 29% is low and in reality if the younger generations are smart they will have their own saving/investment plans and maybe more like 35% will be able to retire as we did.  That is If they can stop the Government from stealing their individual retirement monies.

PCRR/Dave

Not to side track this discussion, but it is relevant to the hobby: disposable income.

Dan is right. The fact that I will have a comfortable retirement is a direct result of the unions I have belonged to, and their collective bargaining power, and the benefits I have received for myself and my family. I am extremely grateful to my union brothers and sisters who came before me and fought for the benefits I have today (like defined benefit pensions) and I worry for those coming after me when I read that a high percentage of the workforce will be freelancers in the next generation of workers.  

PDXTRAINS,

   I have to give you this much, as a Professional Engineer we had to form a Union at Westinghouse.  Every time an engineer would get close to 10 year service, Westinghouse found a way to pink slip that engineer.  The Engineering Union was formed to eliminate this kind of dirty business operation.  Our Engineering retirements however were not the same as the over all UEW.  In our era there was a definite need for the Unions, even if you were a Professional Engineer.

PCRR/Dave

I belong to a union too...waiting for the last year and a half for the next contract to be signed and not pointing any fingers! 

I think some mentioned an anxious feeling...I think that sums it up. A good contract and I can leave! 

Tom 

I will make an attempt not to politicize this conversation.  Dave mentioned the Affordable Care Act is pretty much dead.  That may be a slight exaggeration.  The ACA puts everyone on a more level playing field.  Like any social program it has it's kinks that the powers that be, should have tried to work out.  However, the powers that be are influenced by the private insurance companies, who see the ACA as cutting into their profits.  Almost every other civilized country has national health care of some sort.  It does work.  Remember, if you work or have worked for a living, the only way you are going to help yourself is by helping one another.  

This has been an interesting topic to read.  I commented a long time ago, but did not look back to see what I wrote.  I took an early out package from my last company two years ago, but went right back working for them as a contractor.  In the last few months I have only been allowed to work 3 days a week, but with two small pensions we have been okay.  Well, I stopped putting money in my IRA the last 3 months, and that got us through Christmas with no money owed anyone.  I'll turn 62 this year, but plan to work until I can get medicare, or 66 and 4 months for full Social Security, if it seems worth working that last year and 4 months.  My wife's health is getting to the point where we don't know how long she can work.  She only earns $20,000 per year, but she carries the health insurance.  We will take it as it comes, but hope to retire sooner than later.  A lot of our time is taken helping 4 elderly relatives and one empty house, which is wearing us down.  Working 3 days a week has helped.    I hope to be able to spend a lot more time with trains and we hope to do a little bit of travelling once I retire.

I am 68, I worked for ATT for 21 years, both as union and management. I am divorced

and live by myself. I get a small pension because my ex was awarded half of it in the

divorce. I think they just did that automatically in Illinois. I spent a lot of years as

management so I get a pretty good bit in SS.  I am a veteran so my medical is taken

care of.  A big thing is I live in Nevada so no state income tax, no sales tax on food

and the cost of living is moderate. I live in Carson City, the state capitol, smallest

in the country at about 50000 residents. It was a conscious decision to move here

to avoid california taxes. The climate is great, low crime, few or no bugs, sun about

300 days a year. Half an hour from Lake Tahoe, the same from Reno. 

Mid range house about 250k.

I highly recommend it

John

John,

You talked me into it, until you said mid range house is $250,000.  Our house is worth about $175,000  

But, we pay about $2500 in real estate taxes, state income tax, and 69 cents tax on a gallon of gasoline.  I think I just talked myself into it again!!  

I think I just payed 2.69 for premium yesterday, I think our state gas tax

is about 18 cents. I rent so I may be high as far as median home prices. It

really is a good place to retire. I know a lot of california retirees came here. 

California tried to tax their pensions because they earned them there, but that

got shot down real quick.

Mark, John is right on with his comments on living in Nevada.  I am down south near Las Vegas, but all the same holds true except up north the weather is cooler.  Great area, they have actual grass.  Lack of state income tax alone will probably make it worthwhile.  With the new $ 10,000 cap on tax deductions we expect a flood of people will take advantage of all that Nevada has to offer.  Don't wait too long, homes are increasing over 10% per year.

John, if you get to Vegas, email me, I will buy you breakfast. 

Chris Sheldon 

Chris, thank you too for the information.  It does sound great!

Gentlemen,

   Great to live in a state with no state Tax and a moderate cost of living, great places to retire.  

Dan,

   Disagree with you on Socialized Medicine of any kind.  Every country who tries it finally goes Bankrupt.  Great Britain just found that very thing out recently.  Canada has millions of their people coming across the border to the USA for medical treatment, especially operations, because they die before they are granted treatment, under the socialized medicine laws, in their own country.  

We have a US Constitution that forbids what was done, no man can be forced to purchase a medical plan he does not want.  Further viewing Obama Care as a Tax is Unconstitutional also, all Tax Legislation of any kind must by our US Constitution be initiated in the House of Representatives, not in the Senate were Obama Care was cooked up.  These boys in the black Robes way over stepped their Constitutional Authority to initiate Socialized medicine here in the USA.  President Trump is just starting to enforce the US Constitution.

PCRR/Dave

Let's see, I retired when I was 62, then moved to Maui a few years later. Start on bucket list.

1- got a new dog

2-took up diving again

3-made new friends

4-got a new wife...no that's not right

5-took up still photography again

6- met lots of whales with new kayak 

7-most important, learn to relax

I think that's enough. You will learn more and stay young if you keep trying new things. Don