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Old 04-12-2016, 05:55 PM
 
6 posts, read 5,586 times
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Quick Summary:

59.5 this June. Married. We have 1.2M in 401K type accts. including a pension lump sum. Financial advisor has a plan for us to net close to $100K/yr after taxes, with 95% probability for 30+ yrs (this plan includes SS and my wife's salary for a couple more years).

We only have about 30-40K in cash accts. No liabilities, all loans paid. A house worth $550K on today's market (but we plan to stay in it a long time).

Question: I was planning to retire in June, but my salary and bonus for the next year is great......I cant stand working....do I do stay another year and bump up my cash/liquidity??? Did I mention I hate this job?

(Health is medium)

Thanks

Last edited by Alcar; 04-12-2016 at 06:10 PM..
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Old 04-12-2016, 06:25 PM
 
Location: NC Piedmont
3,911 posts, read 2,877,558 times
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Asking for permission to do what you want from strangers? You have mine. Go for it...

But if you hate your work and being not too old and with the wife working, you might think about other work that you would enjoy.
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Old 04-12-2016, 06:26 PM
 
Location: Central Massachusetts
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I would say continue to work. One more year wont kill you.
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Old 04-12-2016, 06:42 PM
 
6,244 posts, read 4,725,740 times
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Quote:
Originally Posted by golfingduo View Post
I would say continue to work. One more year wont kill you.
It could.


Sounds like you have a financial plan that works. Rather than work for an additional year, you might just start out slow on the expenses. I did that for a couple of years and it helped build some extra security and grow the nest egg.
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Old 04-12-2016, 06:51 PM
 
Location: Central IL
15,224 posts, read 8,518,332 times
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Quote:
Originally Posted by jrkliny View Post
It could.


Sounds like you have a financial plan that works. Rather than work for an additional year, you might just start out slow on the expenses. I did that for a couple of years and it helped build some extra security and grow the nest egg.
I can see this...if you truly hate your work so much, then at least to start it will be enough to just NOT WORK. You won't need to take an around-the-world cruise or play 4 rounds of golf every week, etc. Just relax for a year or two, tinkering close to home and enjoying the simple pleasures. Then you can gear up once your wife stops working.
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Old 04-12-2016, 06:56 PM
 
6 posts, read 5,586 times
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Quote:
Originally Posted by ReachTheBeach View Post
Asking for permission to do what you want from strangers? You have mine. Go for it...

But if you hate your work and being not too old and with the wife working, you might think about other work that you would enjoy.

wasn't asking permission, was asking for an opinion....its a stressful decision
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Old 04-12-2016, 06:57 PM
 
6 posts, read 5,586 times
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Quote:
Originally Posted by jrkliny View Post
It could.


Sounds like you have a financial plan that works. Rather than work for an additional year, you might just start out slow on the expenses. I did that for a couple of years and it helped build some extra security and grow the nest egg.
doubt I will be able to save if on the retirement plan
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Old 04-12-2016, 06:58 PM
 
2,759 posts, read 992,710 times
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Sounds to me like you have made the decision. If you hate your work enough and your health is ok but not great and you have a pretty good financial situation, why not take a year off maybe work part time in something you might enjoy.
Sometimes we need a break and it looks like you are financially ok to do it.
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Old 04-12-2016, 06:59 PM
 
6 posts, read 5,586 times
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Quote:
Originally Posted by reneeh63 View Post
I can see this...if you truly hate your work so much, then at least to start it will be enough to just NOT WORK. You won't need to take an around-the-world cruise or play 4 rounds of golf every week, etc. Just relax for a year or two, tinkering close to home and enjoying the simple pleasures. Then you can gear up once your wife stops working.
No wild plans, budget is around 80K so plan has some slop....I think it need to have some
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Old 04-12-2016, 07:01 PM
 
6 posts, read 5,586 times
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Quote:
Originally Posted by Beach Sportsfan View Post
Sounds to me like you have made the decision. If you hate your work enough and your health is ok but not great and you have a pretty good financial situation, why not take a year off maybe work part time in something you might enjoy.
Sometimes we need a break and it looks like you are financially ok to do it.
yes - I have a part time job lined up....at min wage tho (doing something I like)
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