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Old 05-31-2014, 07:01 AM
 
2,627 posts, read 4,953,885 times
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I've worked 41 years for the same non-profit. I've been putting money into a 403b for 40 years (TIAA-CREF). I am 63 years old. I just can't continue working at this place! My emotional and physical well-being is suffering....boredom, stress, lack of appreciation, etc. and a very long commute (since 1978) has just about made me nuts!

I want to retire in a few months....and take early Social Security.....so many people say to wait, but I just can't.
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Old 05-31-2014, 07:30 AM
GLS
 
1,985 posts, read 4,848,058 times
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Quote:
Originally Posted by popcorn247 View Post
I've worked 41 years for the same non-profit. I've been putting money into a 403b for 40 years (TIAA-CREF). I am 63 years old. I just can't continue working at this place! My emotional and physical well-being is suffering....boredom, stress, lack of appreciation, etc. and a very long commute (since 1978) has just about made me nuts!

I want to retire in a few months....and take early Social Security.....so many people say to wait, but I just can't.
Since you do not provide any financial specifics it would be impossible for anyone to assess whether or not you can AFFORD to retire. However, maybe you are asking the wrong question. Even if you can't "RETIRE", you definitely need to escape from that job.
I believe you already know this from the emotional exhaustion reflected in your post.

Leaving a job you have invested most of your working life in is scary. You need to build your confidence to make the move. Do the financial analysis of income stream and expenses for full retirement, partial retirement, etc. When you see what is financially feasible, put together a personal plan. What would you like to do if you retire, i.e. hobbies, travel, etc.? Discuss your plan with your support network.

Finally, when you get your factual data together, accept the risk of a big decision, and do what your heart tells you to do. Good luck.
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Old 05-31-2014, 07:39 AM
 
Location: in the miseries
3,302 posts, read 3,581,162 times
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If this job affects your mental health see if you can be laid off. In some states you can collect unemployment ins. And social security.
Too much stress shortens your life.
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Old 05-31-2014, 07:52 AM
 
Location: Florida -
8,767 posts, read 10,848,423 times
Reputation: 16640
Quote:
Originally Posted by popcorn247 View Post
I've worked 41 years for the same non-profit. I've been putting money into a 403b for 40 years (TIAA-CREF). I am 63 years old. I just can't continue working at this place! My emotional and physical well-being is suffering....boredom, stress, lack of appreciation, etc. and a very long commute (since 1978) has just about made me nuts!

I want to retire in a few months....and take early Social Security.....so many people say to wait, but I just can't.
What are you waiting for? It sounds like you are only waiting for other people to tell you that it's time. Are there any positive advantages to waiting another 2-3 years (short of increasing your SS check? It's OKAY for YOU to retire now - when you want to! --- Enjoy your retirement!!
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Old 05-31-2014, 08:30 AM
 
Location: Los Angeles area
14,018 posts, read 17,744,100 times
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Quote:
Originally Posted by popcorn247 View Post
I've worked 41 years for the same non-profit. I've been putting money into a 403b for 40 years (TIAA-CREF). I am 63 years old. I just can't continue working at this place! My emotional and physical well-being is suffering....boredom, stress, lack of appreciation, etc. and a very long commute (since 1978) has just about made me nuts!

I want to retire in a few months....and take early Social Security.....so many people say to wait, but I just can't.
Quote:
Originally Posted by jghorton View Post
What are you waiting for? It sounds like you are only waiting for other people to tell you that it's time. Are there any positive advantages to waiting another 2-3 years (short of increasing your SS check? It's OKAY for YOU to retire now - when you want to! --- Enjoy your retirement!!
I agree with jghorton. If the OP has been putting money into a 403b for 40 years AND will be getting Social Security at age 63 (already one year, or 8%, better than the minimal SS at 62), then we don't need to know the details about exactly how much money is in the 403b or exactly what the SS benefit will be. OP: ditch the stress and ditch the long commute (another source of stress). Your 41 year career is longer than that of many people when they retire.

So unless there is something you haven't disclosed, such as a large amount of credit card debt, what ARE you waiting for?
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Old 05-31-2014, 08:34 AM
 
Location: Finally escaped The People's Republic of California
11,119 posts, read 7,570,795 times
Reputation: 6218
Retire Today, congrats
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Old 05-31-2014, 08:57 AM
 
2,627 posts, read 4,953,885 times
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Thanks. Perhaps I was a bit dramatic, but I hear so much about waiting until full SS age, etc. I have no credit card debt and have an extremely good (high) credit rating (800+). I just need to make some financial decisions and go with it. My career has been very rewarding, just the thought of retiring is making me waver between extreme happiness and slight panic. My father had to work his entire life (75). I guess that I am really blessed to be in this situation but I feel the need to be so careful with investments, etc.

Last edited by popcorn247; 05-31-2014 at 09:10 AM..
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Old 05-31-2014, 09:27 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,610 posts, read 39,974,527 times
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Figure out how to bridge the income gap till age 66, W/o taking early SS.

There are many options. consider them all (sell the kids, sell the car, beg on the street corner, get SSD.... This may be ez'r than working.

If you cannot figure it out... continuing working until the incentive to leave uncovers an available option to fund a minimalist existence for a couple yrs.
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Old 05-31-2014, 09:53 AM
 
4,787 posts, read 9,305,892 times
Reputation: 12632
I agree wholeheartedly with Stealth Rabbit. Try to hold off on Social Security if you can.

Also what about health insurance until you reach Medicare age ? That can be huge. Look into your options.

Just sit down and carefully go over your financial picture. Figure out just exactly what would be coming in monthly & over the course of a year. It sounds as though you need to retire, I hope you can.
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Old 05-31-2014, 09:59 AM
 
19 posts, read 22,346 times
Reputation: 67
I was in exactly the same place as you are now four and one half years ago---could not stand working in Federal service any longer, unrewarded and under appreciated, lousy and very nasty boss for the last two years at my job. They PO offered an early out and I took it--I was one week shy of my 61st birthday. I did take my SS at 62 but I had a pretty handsome amount in my TSP plan (our version of a 401k plan) plus I had rental property providing income. My husband retired the next year from his job , with a pension too and continues to work P/T in a handy man business that provides us extra but it really is just icing on the cake.
I have no credit card debt, no car loans, child's college paid for in full (she had scholarships to help fund it) . If you have the financial means and can live without drawing out too much from your plan, go for it! I have never been happier, the stress is gone, I save a ton of money in gas not going to work. You can actually reduce expenses when you retire. Best of luck to you and I say enjoy your life because none of us have a crystal ball and things can change in a moment.
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