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All the money in the world can't buy your health. If you can afford to retire, do it now. I know too many people who put it off for "another year," and either had a catastrophic illness or passed away.
But 57 is young. I get that some people "know someone who died the day after retiring" however the actuarial data don't lie. The greater risk for most people is living longer than expected.
Ever see those ads about people who are 100? I know it's just an insurance / annuity schpiel. But there is a nugget of truth there.
I feel your pain. After years in less than ideal jobs, I'm finally in a job that pays well, and that I enjoy, but it would just be so nice to retire. So I have two thought bubbles next to my head. One says, "We've got plenty--just retire already!" and the other says, "But what if [insert enormous unplanned expense here] happens--we'll face financial ruin and I'll never get another job like this one." Sixty has been chasing me all year and is about to catch me, so I am especially feeling this arrival at the crossroads.
Tuck'd Dad has a point--setting one more financial goal that gives you extra assurance will probably go a long way toward easing any worry about retiring. But once you hit that goal, it's a leap of faith, and you (and I) just have to take the plunge. After you!
You used the collective we.
In my case I would never want DW to be poor. The thought of her as an impoverished 90something freaks me out. I'll do all I can to keep that from ever being a possibility.
It isn't that I dislike the job, and the money is great - but that there are other things I would rather be doing with my time. I have no debt and own a home and a vacation home free and clear. There will be pensions - so everything says "GO" - but my frugal side says stay, and save and build more resources.
Conflicted like a deer in the headlights in Arizona. Deciding to retire - is tough! Deciding to stay is so much like doing the right thing - which at 57 is getting old.
The biggest thing people over look when they are trying to justify the need for more money and retirement, every human's most valuable asset is time, and it runs out sooner then any one thinks.
See!!! Half of you say stay and half say go. I'm loving the responses though. Good stuff and I thank you all.
I would agree that I need to stay until this health care issue is resolved - as that is critical to the final decision and paying for 8 years of health care for my wife and I until Medicare - what that means is pretty uncertain right now.
This issue - ala the Clash:
Should I stay or should I go now?
Should I stay or should I go now?
If I go, there will be trouble
And if I stay it will be double
So come on and let me know
Should I stay or should I go.
A lot of the people telling you to go appear to have a fear of early death.
The stats would say, that is a misplaced fear unless one:
- Has been doing serious abuse to one's self
- Has a known hereditary issue impacting longevity
- Lives in a very dangerous hood
- Is involved in gangs / organized crime
- Lives among high levels of toxins
- Various other corner cases
You really have to take a hard look at what is really enough for retirement. Are you factoring in high cost incidentals that have a nasty habit of hitting out of the blue? And BTW, stats would say the unexpected incidentals are more likely than an early death unless you are a corner case ala the list I wrote up above.
Ah, how ideal that would be. Unfortunately, most employers want either full-time employees (who get benefits) or else half-time employees who get no benefits.
I went to a schedule such as you propose. 6 hours a day, 4 days a week. What I found was when I got back I still had 5 days of work, at 40 hours or more laying on my desk.
Sure, I AM very sure they would cut your hours so you could kick back when not at work, realizing an early retirement. Just wait until you get back. All those others, who are still pushing the time clock, have got your projects just ready and waiting for you...at half the pay.
See!!! Half of you say stay and half say go. I'm loving the responses though. Good stuff and I thank you all.
I would agree that I need to stay until this health care issue is resolved - as that is critical to the final decision and paying for 8 years of health care for my wife and I until Medicare - what that means is pretty uncertain right now.
This issue - ala the Clash:
Should I stay or should I go now?
Should I stay or should I go now?
If I go, there will be trouble
And if I stay it will be double
So come on and let me know
Should I stay or should I go.
I come from a family where just about everyone works until they can't a pass away... 70's and 80's... mostly small family farmers where you just slow down as you age.
I have 26 years in a small community hospital with 200 employees that was recently acquired by a 100,000 employee Healthcare giant...
Right now it is 50/50 if I stay or should I go...
The adjustment of having a never ending stream of strangers coming in and dictating policies and procedures that take away from patient care is hard to stomach...
Many promises were made and so far the fulfillment has left much to be desired...
I've noticed an uptick in funerals lately... most of my friends are older and there has been a steady stream passing away... it does give one pause to think.
On the other hand I have a parent with Alzheimer so it's not like I could retire and travel the world...
Last edited by Ultrarunner; 04-28-2017 at 02:26 PM..
In my case I would never want DW to be poor. The thought of her as an impoverished 90something freaks me out. I'll do all I can to keep that from ever being a possibility.
My DH will be fine, even if I die first (he is several years older than I). I have a pension which he will continue to receive, his social security will be near the maximum, and at least at this point, we have enough supplemental assets to cover our residual living expenses for well over 30 years. I guess that was my point--on paper it all looks good, but it's easy to allow the imagination to create catastrophic scenarios that make me question even a strong nest egg.
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