I think I’ve figured out the retirement thing. There are several ways folks go about it: First are the people who just hate their jobs and can’t wait to retire. These probably include prison guards and cops in big cities where there’s lots of crime. Many of these folks do their “20 and out”, retiring while they’re still in their 40s. They soon discover that half pay isn’t nearly enough to live on, especially when there’s all that extra time to spend it. So they often go back to work at an unskilled or semi-skilled job, and at a much lower pay rate…go figure.
The second way is to work until you die, skipping the whole retirement thing, something that Joe Paterno at Penn State is well on his way to accomplishing. Joe Pa has a serious problem: He doesn’t play golf. This has an advantage in that you don’t have to worry about your money running out, but assumes that you’re still competent as you increasingly become doddering. So far so good for Paterno, though he’s increasingly turned over decision-making to his assistants.
Most folks retire as they approach Social Security age of 62 to 66, which is what The Bride and I did. (We’ve found the folks at Social Security just great to work with, both on the phone and in person. They should give lessons to the people at DMV.) But as someone said, to be happy you must have at least three things: Someone to love, something to do, and something to look forward to. To that I’ll add reasonably good health. I’m in pretty good shape on all counts: I have T.B. and great kids, my consulting activities keep me busy, and I’m still looking foward to my first hole in one. That form of “retirement” doesn’t work for everyone, but it works for me.