# Countdown to retirement **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [March 25, 2023, 5:37pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653 "2023-03-25T17:37:37Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [March 29, 2023, 6:52pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/61 "2023-03-29T18:52:01Z")
> [@Mean\_Mr.Mustard](#): > > And here is another perspective that I had not heard verbalized before. During my countdown to retirement - which has been going on for literally five years - I was in countdown mode. Woo-hoo, another month gone by! C’mon, time, haul your ass! > > But, what happens to this mindset once retired? Time has absolutely flown by, with my urging. Now what? It is still going to pass in a blink of an eye, but this time the endpoint is not the termination of work, but the termination of…let’s just say it…life. > > That sounds depressing. I’m really pretty excited. But there are feelings and thoughts within that I never would have predicted. It will be just like life before you started the retirement countdown. I started mine at 60, expecting to retire at 65, but beat my goal. If you stay active, you’ll find you’ll have all sorts of other short term goals and countdowns, if you wish. And time does fly. It’s been six years for me, longer than my countdown, but hardly seems that long. ---
**Author:** ![Dag\_Otto](https://avatars.discourse-cdn.com/v4/letter/d/439d5e/32.png) [@Dag\_Otto](https://boards.straightdope.com/u/Dag_Otto)\ **Post date:** [March 31, 2023, 12:06pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/62 "2023-03-31T12:06:15Z")
> [@Mean\_Mr.Mustard](#): > > OP check-in with three days to go Enjoy the day and congratulations! ---
**Author:** ![Mean\_Mr.Mustard](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mean_mr.mustard/32/3865_2.png) [@Mean\_Mr.Mustard](https://boards.straightdope.com/u/Mean_Mr.Mustard)\ **Post date:** [March 31, 2023, 1:19pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/63 "2023-03-31T13:19:20Z")
Thanks, @Dag_Otto! Today is Day One. Just got back from an hour at the gym. Not much else going on today. 🙂 mmm ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [March 31, 2023, 1:25pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/64 "2023-03-31T13:25:57Z")
You’re doing it wrong. You should still be in bed! 🙂 ---
**Author:** ![carnut](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnut/32/3531_2.png) [@carnut](https://boards.straightdope.com/u/carnut)\ **Post date:** [April 3, 2023, 4:17pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/65 "2023-04-03T16:17:04Z")
Enjoy MMM, and congratulations! ---
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [April 6, 2023, 1:55am UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/66 "2023-04-06T01:55:28Z")
I gave notice today that I intend to retire in August. Financial planner said yesterday that I could retire at any time. StG ---
**Author:** ![LSLGuy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lslguy/32/5813_2.png) [@LSLGuy](https://boards.straightdope.com/u/LSLGuy)\ **Post date:** [April 6, 2023, 2:54am UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/67 "2023-04-06T02:54:48Z")
Yaay! Welcome to the impending retirees club! ---
**Author:** ![InternetLegend](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/internetlegend/32/13154_2.png) [@InternetLegend](https://boards.straightdope.com/u/InternetLegend)\ **Post date:** [April 6, 2023, 4:34am UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/68 "2023-04-06T04:34:09Z")
Good for you! I’m enjoying the heck out of mine (and on the rare bad days, all I have to do is think about how much more they would suck if I also still had to go to work). ---
**Author:** ![teelabrown](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/teelabrown/32/8412_2.png) [@teelabrown](https://boards.straightdope.com/u/teelabrown)\ **Post date:** [April 6, 2023, 4:20pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/69 "2023-04-06T16:20:26Z")
I was holding off on pulling the trigger on retiring until my firm’s profit-sharing deposits dropped into my 401(k), which was due to happen sometime this spring. I saw this morning that they just dropped. I can retire any time now, but I’m freezing up and feeling a bit panicky. There’s so much to do - talk to Schwab about setting up Intelligent Income, nagging Mr. brown to roll over a prior 401(k) to Schwab, having him decide if he wants to retire too or keep working, start shopping for a new house in a different state - it’s overwhelming me. ---
**Author:** ![What\_Exit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/what_exit/32/10652_2.png) [@What\_Exit](https://boards.straightdope.com/u/What_Exit)\ **Post date:** [April 6, 2023, 4:38pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/70 "2023-04-06T16:38:38Z")
Build a checklist and prioritize. Though I would say get the 401k roll-over done first. The House decision can wait and waits on other decisions I’m sure. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [April 6, 2023, 4:39pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/71 "2023-04-06T16:39:38Z")
This is great news. Now you have freedom! And this new freedom comes with some choices and that’s understandably overwhelming and scary. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [April 6, 2023, 4:41pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/72 "2023-04-06T16:41:09Z")
> [@What\_Exit](#): > > Though I would say get the 401k roll-over done first. Maybe not. Depending the ages of the people involved and the nature of the 401k, you may not want to roll it over yet. ---
**Author:** ![What\_Exit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/what_exit/32/10652_2.png) [@What\_Exit](https://boards.straightdope.com/u/What_Exit)\ **Post date:** [April 6, 2023, 4:43pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/73 "2023-04-06T16:43:20Z")
You can always roll it from a 401K to a pre-tax IRRA. I did mine at 53 or 54. All of my various 401Ks are in a single self-directed IRRA and it is far, far better. ---
**Author:** ![Tatterdemalion](https://avatars.discourse-cdn.com/v4/letter/t/43a26b/32.png) [@Tatterdemalion](https://boards.straightdope.com/u/Tatterdemalion)\ **Post date:** [April 6, 2023, 4:45pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/74 "2023-04-06T16:45:50Z")
My countdown to retirement: #!/bin/bash RET=$(date -d “April 16 2024 17:00” +%s) while true do ll=$((RET - (date +%s))) days=((ll/3600/24)) rem=(($ll - days\*3600\*24)) hrs=((rem/3600)) printf “%8s %4s %2s \r” $ll $days $hrs sleep 1 done ---
**Author:** ![carnut](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnut/32/3531_2.png) [@carnut](https://boards.straightdope.com/u/carnut)\ **Post date:** [April 6, 2023, 4:54pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/75 "2023-04-06T16:54:18Z")
> [@teelabrown](#): > > it’s overwhelming me. That sounds pretty normal. Create a list, start checking things off as you go. Keep going to work until you are halfway or more through that list. But don’t delay and not enjoy the freedom. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [April 6, 2023, 4:58pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/76 "2023-04-06T16:58:29Z")
If you are retiring between 55 and 59.5, you can access your most recent/current 401k without penalty. If you roll it over, you can’t do that. ---
**Author:** ![What\_Exit](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/what_exit/32/10652_2.png) [@What\_Exit](https://boards.straightdope.com/u/What_Exit)\ **Post date:** [April 6, 2023, 5:04pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/77 "2023-04-06T17:04:56Z")
I think we’re somehow talking about different things. I consolidated 4 or 5 different 401Ks into a single IRRA. No tax hit, I never touched the money. Everything was fund to fund. I’m probably using the wrong term, but I’ve always heard that called a Roll-Over. You can do that going from Job to Job also. Just make sure the money never goes to you but fund to fund. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [April 6, 2023, 5:15pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/78 "2023-04-06T17:15:42Z")
Maybe. I agree that it’s a good idea to have all of your old 401k accounts moved into one common place. ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [April 6, 2023, 5:39pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/79 "2023-04-06T17:39:07Z")
There’s a difference between rolling over money from one job’s 401K plan into a new job’s 401K plan and rolling them over into an IRRA. If you transfer the funds from Job A’s 401K to Job B’s 401K, then you can access all of those funds when you turn 55 without paying a penalty when you leave Job B… If you leave the funds in two separate 401Ks, or transfer Job A’s 401K to an IRRA, you can’t withdraw those funds between 55 and 59.5 without a penalty unless you transfer Job A’s 401K to an IRRA and then transfer the funds in the IRRA into Job B’s 401K before leaving Job B. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [April 6, 2023, 5:46pm UTC](https://boards.straightdope.com/t/countdown-to-retirement/981653/80 "2023-04-06T17:46:02Z")
An advantage of rolling over the 401Ks is that you have more investment options. A possible disadvantage is that the fees might be higher - you need to check for that. [Previous page](https://boards.straightdope.com/t/countdown-to-retirement/981653.md?page=3) [Next page](https://boards.straightdope.com/t/countdown-to-retirement/981653.md?page=5)