Old and in the way

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As depressing as I find this, I will likely be working until I'm approaching 70. I used to have dreams of early retirement (60ish) so that Mr. Bug and I could travel, enjoy grandchildren, etc. It's just not realistic.

I enjoy my job, but have always been careful to cultivate work-life balance. It's extremely rare for me to bring work home. I don't worry about work problems outside of work; as soon as I step out of the office that's it for the day. I have the fortune of a 40-45 hour average work week and reasonably good benefits. The pay isn't as much as I could get elsewhere, but these days I'm glad to just be employed. I work because I need to, and because I'm a better engineer than I would be a teacher, an accountant, a postal worker, etc. I have zero desire to smash glass ceilings and devote my 20s and 30s to the company in hopes of making more money than I really need. I like my job a lot, but it's not my life.

Since the folks at my company who were hired even a few years before me are eligible for a defined-benefit pension, which is still in good shape, they tend to retire once they hit 65. We have very, very few who are older than that. I have a defined-contribution plan which will be nice in conjunction with my 401(k) and other investments, but I suspect as my generation ages the retirement age will be pushed out further.

A few of our oldtimers (in their 50s and 60s) are very set in their ways, very resistant to change, and haven't kept up as well as they should on new technologies. They're close to retirement, usually maxed out their promotion potential and paygrade, and believe (perhaps mistakenly) that the company will never get rid of them for fear of age-discrimination suits - so they do as little as possible and set a poor example. Others have kept up-to-date and are a great source of knowledge and advice for the younger engineers.

Most of our entry-level hires are former interns, so we know they're a good fit to the company and they know what they're getting into. Few things piss me off more than a cocky newbie who thinks he knows everything. When I was a new grad, I soaked in whatever knowledge I could and didn't mind doing the scut work - that paid off for me later on.

 
My wife and I shooting for a "soft-retire" at around 55, and then continuing to work part time for about five more years. My field is pretty specialized, and a lot of folks do something similar. And she is a nurse, so I may bounce around with her on some travel assignments in later years. But that is the goal. We're pretty good savers, and more importantly, don't, and hopefully won't, have any kids.

 
I have worked with both, at my first Engineering Job there were lots of these as the company had a pension plan etc. They were just like Katiebug says setting a really poor example. That is part of the reason I left that and dealing with the labor union of the production workers.

But in the Consulting Field that advanced age it is few and far between, and the older guys you do run into are awesome. A wise engineer once told me that it isn't that he can solve the problem any faster and I can, its just that he can quickly narrow down the options to just 1 or 2 problems to solve while I am still investigating solutions and solving them all.

 
If I stay where I am and the rules don't change, I could retire at age 52/53, but who knows what the future holds.

 
I see myself working until I drop, but not because I have to - because it's still fascinating to me. I work with three other gentlemen, one of whom is 71 and another is 79 - they are just now slowing down a bit. It depends so much upon the individual.

Regarding people getting 'stuck in their ways' - the day you think you know everything about engineering is the day you need to retire.

;)

 
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