I last worked full-time in January of 2019. The company I worked for decided to close the office to which I was assigned. It was ironic since I had a huge workload and mostly worked at home. I was 58.
At first I looked for jobs. I had been told my age would work against me. I didn’t believe that until a recruiter told me that I needed to consider a position that was a third of my former pay because that’s what women my age should understand is all that would be available, More irony that she was a woman who may have been ten years younger than me. I, of course, refused – not just because I knew my worth, but also because if we accept that as a society it says it’s OK.
Right when my unemployment was running out, COVID hit and my unemployment was extended, no job hunting was required, and I received the extra COVID unemployment compensation.
I had the gift of time to evaluate my life. I realized I didn’t like the idea of going back to work 60 hours a week, and also realized being a homeowner didn’t matter much to me. I sold my house, knowing the equity would cover me financially (living frugally) until I was 67 (my age for full Social Security) and moved into an apartment. I had prepared pretty well for retirement and my financial planner gave me her blessing.
I turned 65 in July. Looking back I made the best decision for me. I have been able to travel and spend time with family and friends. I love the flexibility in my life. I can’t believe I ever had time to work.
I still work occasionally. I write an article on a local musician once a month for a local monthly magazine, worked about six months part time for a small boutique insurance agency, and have worked open enrollments for several seasons (two on phones and one in person, acting as an enrollment counselor – helping people through their annual enrollment for their insurance benefits).
This year my plans are minimal – I have not signed a contact with any enrollment firm, have several trips planned, and I’ve just accepted a few days of work for a company for doing on-site benefit fairs or employee meetings.
With minimal work I never know how to answer the question – Am I retired? I’m not sure.
Lately I have been trying to get two pensions going – small ones from my early work days. Both were due to start August 1 (the month after I turned 64), and though I started this process in May, neither has started yet. I found out last week the larger one (which will cover my rent) will pay me August 1 (catching up that August payment, too). The second one is a problem – I only worked for that company 2-3 years, but was 100% vested for retirement (the company sold their NC operations and that was part of my parting package). They can’t figure out how much I should be paid – I got a call this morning I should know in a couple more weeks.
I consider all this free money – or maybe I should call it “freedom money”. My expenses are so low they will cover the majority of them. That will stretch the money from my home escrow.
I don’t think it will really change much in my life, but there is an ongoing decision of whether I continue to do these small jobs.
I have not struggled getting used to retirement, but the idea of how long I keep working on occasion? It’s more difficult to know what to do. Not having to do continuing education would be nice,
Choices are nice. Many don’t get them.
In the Box, Out of the Box 