2Red2K

We are doing pretty well, and find that between investment income, pensions, rents and social security, we have a comfortable existence. I retired at 62 in 2008, into the teeth of Bush's Great Recession. We realized prior to retirement that the bubble was growing and that continuous artificial growth could not be sustained, so several years before the crash, we got mostly out of the market, then subsequently latched onto a solid variable annuity, and have since done some modest investment in real estate and back into equities on the upswing. We bought a near-hundred-year-old house at foreclosure, then spent several years bringing it back to life and restoring its former style and charm. It is now a rental tax shelter housing people we know well. We also bought a vacation home in Florida, then renovated that as well, so we have a great place to spend the winter, and rent the place at other times. I still have the 2004 S2K I bought in 2005, and it's up to 56K miles. We don't usually do marathon road trips in it any more, but reserve it for day trips when the weather is good.

dlq04

Bill, interesting way to retire - lots of planning and lots of work (from the sound of it).

MsPerky

I have my money spread out in different investments because I like diversification. The other day my dentist was talking about investing in a franchise, so I asked my CPA and investment advisor about that idea. They both, especially the investment guy, did not think much of it. Maybe because of my age and the consideration not to get into anything too risky. So I bagged it. I'll just sit on my fairly conservative nest egg.

Legal Bill

I know a lot of people like that. I hope you truly are contributing at a high level. The overwhelming majority of older professionals I know are either hangers-on whose contributions are marginal or just getting in the way.

In the practice of law I see a lot of what I call Lunch Partners: older attorneys without any real work who show up for all the lunch meetings and dinners. I also see pro bono partners who spend a little time at the office helping those who can't afford to pay for legal counsel. The associates seem to do 90% of the work and they help with strategy and court appearances. About one in five are still truly "working" after 65. Based on my current thinking, I don't want to keep working at this level and would rather get out of the way.

Scooterboy

I always worry about that when I go back in to visit. I try to make it short but sometimes I think I stay too long.

Lainey

You visit? Are you there to guide someone along? My co worker who retired after 30 years here has not stepped foot in the shop since he left. He doesn't miss it at all. We keep in touch by text and the occasional lunch. Not sure I'd visit once I leave....

Conedodger

Our cafeteria has a wall of windows looking out on a paved road leading to our loading dock. The closest I'll come to a visit after I retire might be showing up at lunch time to do smokey donuts in front of the cafeteria windows in the S2000!

Scooterboy

I went in today to take the owners assistant (and my close friend) out to lunch. While I was there I disposed of 10 gallons of used motor oil and picked up a few pieces of sheet metal for a project I am working on. There are benefits to staying in contact!

Lainey

Excellent...there IS something in it for you.

Zippy

Deb, I looked at franchises, and my conclusion was, unless you have a fair bit to invest (McDonalds, Starbuck's, etc.) the only people that make money in franchises are the franchisors. Now that is a bit of a gross generalization, but way too many small franchises are very speculative....did I say very, oh yeah and not for me.

Diversification is the key, I hope it stays that way.