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I can add a bit more detail. Everyone has been helpful and kind here - unlike some of the City-Data forums.
My advisor threw out the $12,500 figure as a target because he knew I planned to continue working in some capacity. With my kids in school, I will need something to do during the day. I'm planning on trying real estate (yes, I know the statistics - my late hubby was an agent) which I have wanted to try for some 14 years.
I don't get a pension. I can carry COBRA for 18 months. I'm not working to put a roof over our heads - the income is more for extras. I've owned the home we are moving into for almost 3 years. It's currently rental.
My biggest fear is getting sick as someone mentioned. I don't have any close family in MN - no family at all in FL. I do have friends there.
It's very strange to think of not going into work each day. Tomorrow is my last day. I am becoming more at peace with it. I was just wondering how others felt when they retired!
I can add a bit more detail. Everyone has been helpful and kind here - unlike some of the City-Data forums.
My advisor threw out the $12,500 figure as a target because he knew I planned to continue working in some capacity. With my kids in school, I will need something to do during the day. I'm planning on trying real estate (yes, I know the statistics - my late hubby was an agent) which I have wanted to try for some 14 years.
I don't get a pension. I can carry COBRA for 18 months. I'm not working to put a roof over our heads - the income is more for extras. I've owned the home we are moving into for almost 3 years. It's currently rental.
My biggest fear is getting sick as someone mentioned. I don't have any close family in MN - no family at all in FL. I do have friends there.
It's very strange to think of not going into work each day. Tomorrow is my last day. I am becoming more at peace with it. I was just wondering how others felt when they retired!
Again, thank you for some great thoughts!
You probably know this but you need to meet the RE requirements for a license. I do not think you will have a problem getting a sponsor.
Sick? You want to consider disability insurance. I assume you have life insurance to take care of your kids if needed.
You probably know this but you need to meet the RE requirements for a license. I do not think you will have a problem getting a sponsor.
Sick? You want to consider disability insurance. I assume you have life insurance to take care of your kids if needed.
I've been licensed since 2014. That's not to say, however, I remember anything. I'll be seeking a broker with a good training program.
My fears around getting sick aren't financial. Hubby passed suddenly with no warning. If it can happen to him, it can happen to me. I do have a will. This got me thinking - I need a couple of key contacts nearby just in case...
That is a common experience and it will probably settle down but I admit that periodically it comes back and that's when you check things and make a course correction if needed and reexamine your goals and spending. Its healthy.
I can add a bit more detail. Everyone has been helpful and kind here - unlike some of the City-Data forums.
My advisor threw out the $12,500 figure as a target because he knew I planned to continue working in some capacity. With my kids in school, I will need something to do during the day. I'm planning on trying real estate (yes, I know the statistics - my late hubby was an agent) which I have wanted to try for some 14 years.
I don't get a pension. I can carry COBRA for 18 months. I'm not working to put a roof over our heads - the income is more for extras. I've owned the home we are moving into for almost 3 years. It's currently rental.
My biggest fear is getting sick as someone mentioned. I don't have any close family in MN - no family at all in FL. I do have friends there.
It's very strange to think of not going into work each day. Tomorrow is my last day. I am becoming more at peace with it. I was just wondering how others felt when they retired!
Again, thank you for some great thoughts!
One of the most frequent topics on this forum is health care and insurance costs. You could pass suddenly today, or you could live healthy for many more years, and incur significant medical expenses going into very old age. The most significant of our medical expenses are often in the last six months or so of life. I'd advise you to read those threads in depth.
Again, you haven't provided a lot of information. You're "projecting" that you need to make at least $12,500 after you "retire," and are going on COBRA for eighteen months. Are you Medicare eligible after that or will you be having to shop for an ACA plan? Without a subsidy, an plan on the exchange can cost a small fortune.
Thursday is my last day of work. I am retiring at age 55. I've been at the company for 30 years. I've never liked my work - good people but the wrong line of work. I'm single/widowed with 3 kids - 18, 12 and 12. We are moving from MN to FL to start fresh. Oldest will be going to college 45 minutes away. My advisor tells me I'm good - I need to earn $12,500 per year per 'the plan'. I should be so happy! I'm finally released from my job and going to the land of surf and palm!
But no. I feel like I'm going off a cliff. I'm suddenly freaking out over the tiniest of expense.
I am curious - did anyone else do a financial freakout when they retired? If so, how did you manage to get over it? I never imagined I'd feel like I do!
I retired at an early age in 1999 and had the same reaction. I had plenty of money to last but as soon as the income stopped I was reluctant to spend on anything. I was years before Social Security would kick in with no pension other than IRAs. It was almost like having a muscle cramp. I could not make myself open my wallet. After four years of misery I reinvented myself and entered a new profession. I have done well and am still working well past retirement age knowing that on my last day that wallet cramp will likely hit again.
I retired in February and still wrestle a bit with emotions after working at one place of employment for many years. I am of course delighted to be out of the rat race but am still pondering how to operate without the structure and habits of the workiing life. For instance, I have yet to sleep in once and I used to dream about doing that when I retired. I too am moving to another state so I understand the money fears. It's both weird and wonderful but these transitions illustrate the old saying "when one door closes, another opens".
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