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All of you are saying what my wife is saying too. Also, I'm getting an 8.5% raise in September and there's a rumor of a golden handshake in 2016 when the state contract expires.
OP, wherever you retire to -- spend a year there before you buy a house and really settle in. (Arizona is VERY hot in the summer, and NM can be quite a culture shock.) And I agree with everyone else -- keep this job until 65. I know three years seems like a long time, but it's going to go by very fast -- I promise you. I was 4-5 years away from retirement (the year I had decided on), and I didn't think I could do 4-5 more years. Not only that but as my retirement date neared (I was less than a year away), I found I had to stay yet one additional year to get my 'golden handshake'. But those years went back in an instant. Hang in there. It'll be worth it.
I'm 62 and work for the state of CT. I really want to retire to either NM or AZ but would like to get a job (if I can at my age) in the either of those states and then retire at age 64, 65 maybe 66. I would probably make a little more than half I make now roughly 45 to 50k. I do library/info work so age may not be a huge factor: I've had one phone interview already. So, the question is do I tuff it out for another 2 to 3 years or keep looking to relocate to the area before I retire. My gut feeling is be patient and if a good opportunity comes up go for it. FYI med expenses as a state retiree are paid till 65.
You need to check it out with one of the case workers at your local Social Security office. By retiring early you will be taking a fairly large hit with your Social Security.
Look at the numbers and make a decision. On the flip side the longer you wait the more years you can't get back...As we age the quality of life guarantees goes down.
I'm 62 and work for the state of CT. I really want to retire to either NM or AZ but would like to get a job (if I can at my age) in the either of those states and then retire at age 64, 65 maybe 66. I would probably make a little more than half I make now roughly 45 to 50k. I do library/info work so age may not be a huge factor: I've had one phone interview already. So, the question is do I tuff it out for another 2 to 3 years or keep looking to relocate to the area before I retire. My gut feeling is be patient and if a good opportunity comes up go for it. FYI med expenses as a state retiree are paid till 65.
If you can fully retire/relocate, meaning afford not to work then it could be a good move. If you can fully retire (as in not need to work) and relocate but decide to work some to better feather your nest then it is a good move. If you relocated and had to work to afford it then I say it is not a wise decision and you should stay put until you can afford the above.
One mistake many make is they assume they can retire/relocate and be worth what they are presently making. Rarely is this true especially when one is older as many do not want to hire older people. Many older people that want to go back to work have to do so at low wage/entry level jobs. Some of them can be fun, but most will not be.
It's easy for us to suggest what you should do. We are not in your shoes. I think you should go with your first instinct, to stay until 65. But, I don't always follow my instincts & I'm usually wrong. Good luck in your decision.
OP, wherever you retire to -- spend a year there before you buy a house and really settle in. (Arizona is VERY hot in the summer, and NM can be quite a culture shock.) And I agree with everyone else -- keep this job until 65. I know three years seems like a long time, but it's going to go by very fast -- I promise you. I was 4-5 years away from retirement (the year I had decided on), and I didn't think I could do 4-5 more years. Not only that but as my retirement date neared (I was less than a year away), I found I had to stay yet one additional year to get my 'golden handshake'. But those years went back in an instant. Hang in there. It'll be worth it.
They make it sweet/affordable for you to leave but you have to leave. I once got paid for 6 months, got to keep my company car, and could use the company office/secretarial/phone services during the 6 months but I was out.
They make it sweet/affordable for you to leave but you have to leave. I once got paid for 6 months, got to keep my company car, and could use the company office/secretarial/phone services during the 6 months but I was out.
Nice! Thank you.
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