Holidays

[GeneInAlabama]

I have seen too many people die shortly after retiring.  God created us with the need to work and when we quit, we start breaking down.  I think it is so sad to go to the mall and see all the old people sitting on the benches with nothing to do.  They do not look happy.  I do have to admit that I have slowed down a lot.  The hardest thing I do everyday is get out of bed.  Once I have accomplished that, the rest of the day is a lot easier.

[Abby Normal]

Well the secret is to do some work you love, to give your life meaning and structure, even it's a nonpaying position. I already volunteer at a local nonprofit theater, in several capacities. And I want to get back into Habitat for Humanity. It's fun to build houses! And when you're this old, you need an exercise schedule.

And then there's the grandkids!

So I'll be plenty busy.

Fortunately for me, there's very little I want to watch on tv, so I'm not going to be one of those 'sit and rot' people watching The Price is Right until I die.

[Gail in Virginia]

As long as I have the wisdom and grace to retire before I lose my ability to concentrate and retain new information, I will be happy.  I think that point comes at different times for everyone, and if you are still enjoying what you do, and still able to do it well, why retire?  Unless, of course, you have other responsibilities that are requiring your time or other adventures that you want to pursue!

[Catherine]

Ah, Gail hit on a key point.  I am hoping to get out gracefully over the next several years, as my accidental career as teacher, writer, and lecturer gets busier and busier.  It doesn't pay a dingleberry, but we have always saved liked fiends and don't spend a lot - with my husband's pension and some investment income, we're OK without the money I earn.  (Which I admit has *plummeted* since I moved out to an office and hired help; the gross went up about 10% and the expenses about doubled.... yet I can't improve that gross figure much and teach my assistant to take my place, all at the same time.)  But making the rounds teaching I now find far more satisfying than tax prep.  So time to pass it on to a young man who wants a profession that will ensure enough income for he and his fiancee to marry.   

[MsTabbyKats]

Every year, for the past 5 or so years....I kept saying "This is the end.  I've had enough" for various reasons (TRX catastrophe, IRS getting tough about foreign accts, tax preparer requirements etc)...but I hung in there.  I dropped PITAs each year, to lighten the load.

Again...this past Oct I "wasn't sure" because of ACA and tax preparer requirements.........

I had a "suspicious" mammogram....and decided IF there was a malignancy I'd "retire" (I can handle cancer stress; I can handle tax stress; but knew I couldn't handle clients with problems when I have medical issues).

I had a very quick sale...for which I am very happy.

My operation was a success; my therapy is going well; my prognosis is excellent....so I can call myself a retired breast cancer survivor at this time...who has "retired rich" and wants to "die poor".

[rfassett]

I deal primarily with self employed folks. A few years ago I analyzed and surveyed all of them to determine if and when they would retire. The bottom line? Almost none of them planned to retire. Almost to a person, they were well planned financially for retirement and they said they may not continue doing what they are currently doing, but they will never retire. It's the nature of the entrepreneur.  The point, they will be doing something constructive their whole life through. These are not the mall sitters unless a health issue has come into play. Even then, I doubt that I would see them sitting in the mall.

That said, I will exit this profession soon, at least from a full time position. But I have years and years of things to do.  It will be a long while before I am bored.

A very Blessed and Happy New Year to each of you and yours!

[Lion EA]

68.  But my grandmother lived to 103, so I hope I have a lot of years left.

[mcb39]

19 hours ago, Gail in Virginia said:

As long as I have the wisdom and grace to retire before I lose my ability to concentrate and retain new information, I will be happy.  I think that point comes at different times for everyone, and if you are still enjoying what you do, and still able to do it well, why retire?  Unless, of course, you have other responsibilities that are requiring your time or other adventures that you want to pursue!

So, this is it in a nutshell for me.  I have moved on from the malignancy diagnosis for myself and we are handling the one for my husband.  We feel that we are very fortunate and neither of us really wants to do anything else.  We had our adventures when we were younger and are both involved in our own businesses.  I started cutting back on business clients several years ago.  Actually, one of my business clients who is semi-retired got notice yesterday that he has been randomly picked for a full blown audit in two weeks.  I offered to have it held in my office but don't know why the decide to do these at this time of year.  When I think I am starting to wear down, something like this happens and fires my ambition and confidence in my ability to handle it.  Yes, each of us is different and my parents and grandparents also lived into their 90's with no signs of dementia.  This could all change in the blink of an eye but I am not going to sit around waiting for another diagnosis of Cancer.

[TAXMAN]

Like Gail I started out with Block 40 years ago. My partner says I can't quit until my youngest graduates from HS or college. Gees she is only 12.

Hey Gail what part of VA do you hail from if you don't mind telling? According to some of the president wanna be's We are all gonna be out of business shortly.

 

[Gail in Virginia]

I work in Rocky Mount, VA and live in Wirtz.  Both are in Franklin County - formerly known as the Moonshine Capital of the World and setting for the movie Lawless. 

And i would not count on the government putting us out of business.  There are too many special interests involved.  Even if someone manages to pass a tax program that is simple, straightforward and comprehensible, after a short vacation enough exceptions and loopholes will be passed to complicate it again and we will be back in business.  At least that is my cynical expectation.

[Catherine]

On 12/31/2015, 1:39:56, Gail in Virginia said:

<snip>

And i would not count on the government putting us out of business.  There are too many special interests involved.  Even if someone manages to pass a tax program that is simple, straightforward and comprehensible, after a short vacation enough exceptions and loopholes will be passed to complicate it again and we will be back in business.  At least that is my cynical expectation.

Even if they repealed the 16th amendment tomorrow we would have work guaranteed for 10 years, as they work on collecting under the ten-year statute.  And I would far rather help my clients figure out how to make more money in their businesses than help them plan for the annual tax hit!

Every time someone asks me about a flat tax I say, "It's great - until you have to define income and expenses for businesses.  And in three years the legis-vermin in DC would be paid off to put in enough special provisions that we would be right back with the self-contradictory mess we have now."  That makes them think.