Thoughts about retiring at 55

[anonymous]

There is so much to do, I can't imagine being bored. Travel, volunteer, take up a new sport, study a new topic. Sad that your only way to keep your mind busy is doing a mundane job

I posted about retiring after 30 years with the last 15 as a Senior Pro.Retirement is what you make it. I advise others now that whatever they planned the first six months to throw out the window. It takes that long to ignore the alarm in the morning and understand how free your life has become. In this period, just live baby, just live! During it, you'll thoughtfully figure the rest out. I play golf, trained a therapy dog and we volunteer together, take trips with my wife and occasionally by ourselves (Spring Training for me, craft exhibits for her) and much more. My state colleges offer free courses for seniors (same as the kids take but no exams and the like). These have been terrific and keep the mind at work. I've enjoyed them so much that I've been asked to teach a few and now do so. It pays but that's immaterial. I don't need the money but it's a bright, new way of life and the money pays for MLB home plate tickets with the spreads included. Just keep plugging folks. Bitching is ok. If you put 12-16 percent away, life in retirement is going to be great! Best of luck!

 

[anonymous]

what an inspiring and thoughtful post. thank you for sharing. hope for a lot of us

You're welcome, it is my pleasure. If you have any retirement based questions, please leave them here. I don't check in everyday anymore but I'm around a couple of times a month.

I advise others now that whatever they planned the first six months to throw out the window. It takes that long to ignore the alarm in the morning and understand how free your life has become.

In this period, just live baby, just live! During it, you'll thoughtfully figure the rest out. I now play golf, trained a therapy dog and we volunteer together, take trips with my wife and occasionally by ourselves (Spring Training for me, craft exhibits for her) and much more.

My state's colleges offer free courses for seniors (same as the kids take but no exams and the like). These have been terrific and keep the mind at work. I've enjoyed them so much that I've been asked to teach a few and now do so. It pays but that's immaterial. I don't need the money but it's a bright, new way of life and the money pays for MLB home plate tickets with the spreads included. Just keep plugging folks. Bitching is ok. I was around when the job was great and honorable along with when it began to suck as well as become a joke. It's always been about the honest effort you put it and how you can look yourself in the mirror. I didn't play many games. Got me in hot water sometimes but the powers that be knew I gave an honest day's effort and work.

If you put 12-16 percent away, life in retirement is going to be great! Best of luck!

 

[anonymous]

Ok Boomer. Work until 85. WTF is wrong with these old guys

30 year guy and 15 as a Senior Professional here. I worked until I was between 55-60. Got out because I did not want to work forever as a Boomer. Our life was always good, kids got top level educations, mortgage paid off, etc. I took advantage of every benefit Novartis offered: 401 k max contribution of 16 percent at the time by me with their 6 percent match, cared for company car and bought my last one, took my wife's insurance and LTC plan which were far superior, removed all my money from Novartis a day after I retired and let Zachs manage it. We don't have a wish or need unfulfilled. Actually net worth even higher now because of great job Zachs has done over Fidelity or even myself. Just bought a new MB suv and paid cash. Novartis was never my end all and be all. Gave an honest day's work for honest day's pay and benefits. Mostly kept my nose clean (I refused to do much night work but because I was scrupulously honest and worked hard 8-5, I was left alone). Last 5 managers had 3 d-bags and 2 of my very best ever. They all knew I was trustworthy and did my best. You can have a great life with pharma and in retirement from it, if you actually can say you always gave 100 percent (even with bitching) every day. Never missed a kids': recital, game, whatever either except for meetings. Last 5, all the managers even left early on contacts so I didn't miss anything, again because they knew I was completely honest.












u

 

[anonymous]

30 year guy and 15 as a Senior Professional here. I worked until I was between 55-60. Got out because I did not want to work forever as a Boomer. Our life was always good, kids got top level educations, mortgage paid off, etc. I took advantage of every benefit Novartis offered: 401 k max contribution of 16 percent at the time by me with their 6 percent match, cared for company car and bought my last one, took my wife's insurance and LTC plan which were far superior, removed all my money from Novartis a day after I retired and let Zachs manage it. We don't have a wish or need unfulfilled. Actually net worth even higher now because of great job Zachs has done over Fidelity or even myself. Just bought a new MB suv and paid cash. Novartis was never my end all and be all. Gave an honest day's work for honest day's pay and benefits. Mostly kept my nose clean (I refused to do much night work but because I was scrupulously honest and worked hard 8-5, I was left alone). Last 5 managers had 3 d-bags and 2 of my very best ever. They all knew I was trustworthy and did my best. You can have a great life with pharma and in retirement from it, if you actually can say you always gave 100 percent (even with bitching) every day. Never missed a kids': recital, game, whatever either except for meetings. Last 5, all the managers even left early on contacts so I didn't miss anything, again because they knew I was completely honest.

Such a liar










u

 

[anonymous]

30 year guy and 15 as a Senior Professional here. I worked until I was between 55-60. Got out because I did not want to work forever as a Boomer. Our life was always good, kids got top level educations, mortgage paid off, etc. I took advantage of every benefit Novartis offered: 401 k max contribution of 16 percent at the time by me with their 6 percent match, cared for company car and bought my last one, took my wife's insurance and LTC plan which were far superior, removed all my money from Novartis a day after I retired and let Zachs manage it. We don't have a wish or need unfulfilled. Actually net worth even higher now because of great job Zachs has done over Fidelity or even myself. Just bought a new MB suv and paid cash. Novartis was never my end all and be all. Gave an honest day's work for honest day's pay and benefits. Mostly kept my nose clean (I refused to do much night work but because I was scrupulously honest and worked hard 8-5, I was left alone). Last 5 managers had 3 d-bags and 2 of my very best ever. They all knew I was trustworthy and did my best. You can have a great life with pharma and in retirement from it, if you actually can say you always gave 100 percent (even with bitching) every day. Never missed a kids': recital, game, whatever either except for meetings. Last 5, all the managers even left early on contacts so I didn't miss anything, again because they knew I was completely honest.












u

 

[anonymous]

You are such a liar

 

[anonymous]

30 year guy and 15 as a Senior Professional here. I worked until I was between 55-60. Got out because I did not want to work forever as a Boomer. Our life was always good, kids got top level educations, mortgage paid off, etc. I took advantage of every benefit Novartis offered: 401 k max contribution of 16 percent at the time by me with their 6 percent match, cared for company car and bought my last one, took my wife's insurance and LTC plan which were far superior, removed all my money from Novartis a day after I retired and let Zachs manage it. We don't have a wish or need unfulfilled. Actually net worth even higher now because of great job Zachs has done over Fidelity or even myself. Just bought a new MB suv and paid cash. Novartis was never my end all and be all. Gave an honest day's work for honest day's pay and benefits. Mostly kept my nose clean (I refused to do much night work but because I was scrupulously honest and worked hard 8-5, I was left alone). Last 5 managers had 3 d-bags and 2 of my very best ever. They all knew I was trustworthy and did my best. You can have a great life with pharma and in retirement from it, if you actually can say you always gave 100 percent (even with bitching) every day. Never missed a kids': recital, game, whatever either except for meetings. Last 5, all the managers even left early on contacts so I didn't miss anything, again because they knew I was completely honest.


Most people would commend your work ethic and honesty. I look at it as 30 years of missed opportunities. Just think if you work hard from 8-1:00pm 4 days a week with an occasional night event. You now spend from 1-6:00 everyday plus 1 day a week starting and running a small business. You could have produced more retirement income and retired 10 years earlier. You might sleep well at night. Others who retired 10 years before year also sleep well. Since you are now retired how many people actually care if you worked hard for 30 years? One person - you. For anyone reading this who still is working, make an exit strategy now. Work hard for 3 to 4 hours a day. Utilize the rest of the time to build a business. This job is perfect for it. If you believe anyone cares if you are hard working you are kidding yourself.










u

 

[anonymous]

30 year guy and 15 as a Senior Professional here. I worked until I was between 55-60. Got out because I did not want to work forever as a Boomer. Our life was always good, kids got top level educations, mortgage paid off, etc. I took advantage of every benefit Novartis offered: 401 k max contribution of 16 percent at the time by me with their 6 percent match, cared for company car and bought my last one, took my wife's insurance and LTC plan which were far superior, removed all my money from Novartis a day after I retired and let Zachs manage it. We don't have a wish or need unfulfilled. Actually net worth even higher now because of great job Zachs has done over Fidelity or even myself. Just bought a new MB suv and paid cash. Novartis was never my end all and be all. Gave an honest day's work for honest day's pay and benefits. Mostly kept my nose clean (I refused to do much night work but because I was scrupulously honest and worked hard 8-5, I was left alone). Last 5 managers had 3 d-bags and 2 of my very best ever. They all knew I was trustworthy and did my best. You can have a great life with pharma and in retirement from it, if you actually can say you always gave 100 percent (even with bitching) every day. Never missed a kids': recital, game, whatever either except for meetings. Last 5, all the managers even left early on contacts so I didn't miss anything, again because they knew I was completely honest.



Most people would commend your work ethic and honesty. I look at it as 30 years of missed opportunities. Just think if you work hard from 8-1:00pm 4 days a week with an occasional night event. You now spend from 1-6:00 everyday plus 1 day a week starting and running a small business. You could have produced more retirement income and retired 10 years earlier. You might sleep well at night. Others who retired 10 years before year also sleep well. Since you are now retired how many people actually care if you worked hard for 30 years? One person - you. For anyone reading this who still is working, make an exit strategy now. Work hard for 3 to 4 hours a day. Utilize the rest of the time to build a business. This job is perfect for it. If you believe anyone cares if you are hard working you are kidding yourself.

 

[anonymous]

I worked for Novartis and one of the predecessor companies. I retired when in my 40s. I had more than enough money. The pharmaceutical industry was very good to me. I made enough money in the pharmaceutical industry to retire after 15 years. I was in field sales. I became bored and cross trained and went back to work in another field. Staying active is good for your health.

 

[anonymous]

Why the hell not retire? The one thing you will have less and less of each year is time. I'm 58. If I could pull the plug right now, I would. I need the next 7 years to get to a savings level that will leave my wife and I comfortable. That and Medicare and SS... it is all part of the retirement deal. Insurance sucks when you have to pay it yourself. Of course, someone will write a pithy comment about SS not being here... that is simply not true.

Why not split? Actually, why not stick it out for the next year or so, coasting along? Collect your check, see your 401K increase (through as of this week, it's most likely shrinking) and take a possible "buy-out". You can take a year or so off and if you are bored, interview for a less pressure pharma job.

You have enough if you withdraw at or under the 4% threshold. I have a financial planner who recalibrates our "plan" for us each year. Our "plan" has inflation built in. Our mortgage will remain the same and, as the years go on, be less and less of our monthly nut due to that inflation. Oh, and don't listen to that idiot who suggested you pay off your mortgage. What does that save you? 3-4.5%? What would you have made on that money? 8-12%? The math is pretty simple.

If you can do it, run!!!!

 

[anonymous]

Well, if you're talking about retiring from Novartis in your 50s you're already beating the odds of downsizings and reorgs. You must have dodged at least 5 by now since 2008/9...
I was downsized 2 months after turning 50 with 20 years of service. No retirement - just severance.
I'm fine - found employment quickly and worked another 7 years. Now I truly enjoy the free time to do whatever I want - no telecons, no meetings, no ppts and no 'leaders'...
Congratulations to those who can actually retire from NVS - true survivors!

 

[anonymous]

It may be better to be downsized--especially if there is a severance and buyout

 

[anonymous]

I retired 5 years ago at 56 with 28 years of service...Started the pension, and have benefited greatly from the retiree health care, as I am not yet Medicare eligible. After a couple of years, got bored, and came back to Pharma on a contract, worked another three years, added to savings, paid off the house, cash flowed some big purchases...am very grateful for Novartis...

 

[anonymous]

How does the retiree medical work? New hire but hope to work here for 10yrs.

 

[anonymous]

think many of us will be out of work soon. This President of USA has had no policy on Covid and pharma will never be the same. The worst corona rates in the world by far.

 

[anonymous]

How does the retiree medical work? New hire but hope to work here for 10yrs.

 

[anonymous]

How does the retiree medical work? New hire but hope to work here for 10yrs.

10 years at 55 years old. You will have the same choices you did when you were working. A plan for you and your spouse will run approx $1000 per month. It’s a good benefit to have and I am thankful

 

[anonymous]

think many of us will be out of work soon. This President of USA has had no policy on Covid and pharma will never be the same. The worst corona rates in the world by far.

No one had a policy on covid. Even Fauci the so-called guru changes his mind and policy each week and obviously is flying by the seat of his pants

 

[anonymous]

I've taken money out of retirement (no tax risk) and have a lot of cash for when the market drops below 18,000 when earnings come in for second quarter

 

[anonymous]

I’m using the funds to start a men’s bathhouse with and male modeling agency.
I’ll be interviewing all the applicants.