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Retire Debt Free: Interview With A Retiree

Updated on July 12, 2012


This is an interview with a recent retiree who retired at age fifty-six (fifty-seven technically) from a major corporation. She was able to retire through strategic planning. It is not everyday that you encounter a woman -- or man who has taken care of herself and a child that is able to afford to retire in sound financial shape. Find out how she did it, and learn from her experience in this live interview.

You are a single woman and recently retired from a major corporation, how did you pull this off?

Retiree: Planning.....Careful and strategic planning and timing. Timing – You have to be the right age or have worked a sufficient number of years to retire today from the workforce.

What financial plan do you have in place when you retire?

See results

How many years did you work?

Retiree: 36 years.

What industry did you retire from?

Retiree: Health Care

Did you know you would retire after thirty-six years?

Retiree: My plan was to retire at age fifty-five.... I planned it out to retire at age fifty-five.

Let’s switch the subject to Planning and Saving for Retirement -  Tell me in your words; what is essential to be able to retire financially fit?

Retiree:  You have to have a solid financial foundation. You have to have a method of which to execute it such as: a 401K; a Pension Plan or something comparable.

Tell me a little bit more about that?

Retiree: You have to have a debt elimination plan in place too. You have to look at your debt and devise a means of eliminating debt. Here is an example:

Ten years ago, I had four credit cards, and I looked at the debt ratio spread over all four years, then I set a plan in place to pay off all four cards. I set a target of ten years – but instead, payed them off in five years. Basically, look at all of your debt: car, student loan, whatever your debt is, you look at it and the money you make and devise a plan to pay it off within a certain frame of time.

Retiree: Here is how I did it:

I took my lunch everyday. I did not buy unnecessary things. I did not spend my money on frivolous things.

Did you get any professional assistance or financial consultation?

Retiree: No professional assistance. I wrote it down myself. every time I paid off a credit card, I increased my contribution to my 401K plan – I paid myself.

This is fantastic information that will help our readers and it will be very useful. Is there one last piece of advice you would give to someone planning retirement?

Retiree: Do not lend any amount of money unless you can afford to give that amount away! A lot of people will take their savings to loan to others – do not do this. My paycheck was my liquid money, and I always allocated some to savings and checking and never changed this over the years. – I stuck with this. I never even lent money to myself from the long-term money I was saving. I did not spend money just because I got paid – getting paid was my treat.

Retire: My Motto is: “Learn to Practice Delayed Gratification.”

How are you so disciplined with your finances?

Retiree: Having a need to be responsible and of service to others. I used to think: If I can’t help myself, then there is no room to help others. In essence, you want to be in a position to help someone else.

Thank you for your time, I hope the readers will take advantage of this opportunity to gain valuable knowledge on Planning for Retirement and take action today.



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  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    jrcemail, the retiree had a plan. A Plan, obviously, is necessary be able to retire comfortably. We can forget hoping and wishing!

    Nice to get a comment from you today. See you 'round! Thanks.

  • jrcemail profile image

    jrcemail 7 years ago

    This is good stuff. Usually when I speak with some people, they're pretty clueless about some of this stuff. So it's a bit of a surprise when I read up on an actual person who's done it.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Loren, thanks for sharing your thoughts here. Life would be wonderful if we could all plan our retirement like this. I will see you later.

    Have a nice day!

  • Loren's Gem profile image

    Loren's Gem 7 years ago from Istanbul, Turkey

    Great share - with some very insightful tips for those who are planning to retire. :-)

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Hi travel_man1971, you are right, this is a wise retiree. Thank you for reminding us to look to our future, and thank you for coming by.

  • travel_man1971 profile image

    Ireno Alcala 7 years ago from Bicol, Philippines

    A very wise retiree. If we'll think of our future, we should be wise using our money. Thanks, treasuresofheaven. :D

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Hi Pamela99, thanks for comment. I am glad I could interview someone who actually retired with a plan and will enjoy retirement. The Retiree is an example for people to follow. The advice given makes good business sense. Also, I included the poll so that people will begin to think more about their future.

    Thanks again, I always appreciate your visit.

  • Pamela99 profile image

    Pamela Oglesby 7 years ago from United States

    This hub has some great advice for those getting ready for retirement.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    elayne001, thanks for sharing your retirement plans with us and the realities and pitfalls along the way. I think our interviewee had an airtight plan.

    I think what keeps most of us from succeeding, is deviating from the path which we know can bring us the reward we want and deserve.

    Good thing is, it is never too late. Let's have a new beginning today. Hey listen, HubPages dosen't allow us to post links to our Hubs in the comment section. Thanks for giving your comments.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Happyboomernurse, you are on top of things. You are my treasured friend. Always here to bring clarification and confirmation. Thanks for backing me up on this Hub, I am happy for you and your retirement. Hey, now you can give Hub your

    Thanks for your generous support! See you later.

  • elayne001 profile image

    Elayne 7 years ago from Rocky Mountains

    I am turning the big six-0 this year and no chance of retiring. We have moved plenty and helped many people out with finances, so our retirement is put off. I appreciate your spelling it out plainly, but something always seems to come up that needs our money. Not everyone's plan work out the way they were planned. Good for you. Well, at least I can hopefully one day live off of Hubpages (yeah, right!)

    Here is a hub I wrote about our financial situation:

  • Happyboomernurse profile image

    Gail Sobotkin 7 years ago from South Carolina

    Great hub with sound advice for creating a financial plan for early retirement. I liked the way you interviewed a woman whose plan enabled her to retire without debt.

    Becoming debt free, putting money into a 401K plan and earning pensions was my own plan for early retirement, and it was effective.

    Thanks for sharing this useful information. I voted this hub up, useful and beautiful.