To Retire or Not to Retire; a Valid Question? - Time Out #275

Not too soon to wish you a Happy 2021 from our family to yours!

Still picking up all the fancy wrapping paper scattered all over your home from yesterday?

Pause your clean-up efforts, dear readers in Our Town and far beyond, for a few minutes, and let's chat about retirement.

This is a popular topic for those of you that may qualify, even at a relative early age. Remember, folks, you can join the armed forces at age 18, then retire 20 years later. This usually allows the person the ability to begin another career, and, also, retire with a second income, before age 60. Wow!

However, for most of our American population, that retirement question/dilemma doesn't have to be made until at least age 50, and many times waits until our 60's.

Lots and lots of things to be considered before hanging it up in your job/occupation. Moving forward, monthly income, what to do with your new-found time (Plan B?), changing family relationships, health and carry-over health insurance benefits, and a myriad of other items absolutely have to be well thought out before making that decision to end something that has involved many years of your life.

What else may assist you in the difficult question of whether or not to retire?

In my humble opinion, talk to lots of people who have previously made the move, and see how well they have done in their "new", retired world? Carefully listen to what they tell you, and pay close attention to the individual's attitude and happiness. Be sure to ask them specific questions you are mentally "wrestling" with regarding items that are not currently clear to you, but, possibly, your retired "contacts" are able to answer. Remember, their answers are not theoretical to them; they actually have faced them during their retirement. They have undergone retirement experience!

Always, one of the most basic of all questions is your retired financial well-being. Just "how much is enough" for you and your family's lifestyle? Most of the time, at some point in your life, your financial lifestyle has been mentally established. Basically, you are who you are as far as your wants, needs, and expectations are concerned. Still, of course, this future money need is absolutely essential to be completely comfortable with mentally, BEFORE you make your final retirement decision.

O.K., now for the ultimate question in this conversation. This one is posed to me several times weekly, both in my professional and private life, through various conversational contacts.

When are YOU going to retire, Dr. Breedlove?

My usual immediate response is, "I am not planning on retiring". The simple reason is because I really LOVE what I have been doing for the past 41 years! Each time I drive to my office, I look forward to interacting with both my employees and our visitors, we call our patients. I love listening to their stories, then carefully using my educational/practice experience to, hopefully, help them relieve some of their mental/physical stress. Almost immediately, I am able to see/hear their stress level go down. I get so much back from patients and their their families; it makes my job SO satisfying! The warm fuzzies I receive are many and often. They give me lots of smiles.

Thus, no retirement in my immediate future. Heck, no retirement in sight for my Friday Night Lights high school football officiating, either, now 54 seasons in my rear view mirror. Indeed!