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I just started to work for a Seattle-based coffee shop (NOT Starbucks) and I'm eligible for health insurance if I work 30 hr/week for 6 months and I believe I can stay eligible even if I only work 25hr/week thereafter.
I'm over 40 and it's not the easiest job for the body... I think I pulled a muscle from pulling shots! It's also a little weird to be working amongst college students and have a boss that's technically young enough to by my daughter.
However I'm still younger than the owners and department heads and since my assets are strong I find myself having a sense of camaraderie with them. For example, one of the owners flies around the world to visit coffee farms and although that sounds like an outlandish dream to my 25 year old boss, I could talk to the owner about one of our trips to Mexico to visit friends on their coffee plantation.
I feel badly for the OP. Nobody should have to deal with being so unhappy. But I just don't think quitting work and relying on unrealistic returns is the way to go. As someone pointed out he will stop contributing to SS and that will have a HUGE impact when it's time to cash in. OP may want to make sure he has enough points to be eligible for Medicare as well.
I've realized that I'm not happy in my (any) career and it's bad for my mental health. One example is that I have chronic insomnia when I have to work the next day and the insomnia causes me to feel depressed and other issues. I could easily sit at home every day with no job and be happy. I also don't think I will get married and start a family. I have almost $300,000 in the stock market now in 3x levered ETF's. Over the past 10 years the returns average around 45% per year. That would put me at earning six figures every year for doing nothing. I could even just get an easy part time job for the health insurance and to get me out of the house. I have no debt except for a monthly mortgage payment for $1,200 which includes all taxes, fees, and insurance.
Three hundred thousand dollars is not enough for anyone to retire on.
My advice: Figure out what it is you hate about work and try to fix it. I hope its not the fact that you are expected "to make an effort" to earn a living. There's a reason they call it "work".
I have many times more than $300,000 and I'm still plugging away at age 62 probably because I actually like working.
Three hundred thousand dollars is not enough for anyone to retire on.
My advice: Figure out what it is you hate about work and try to fix it. I hope its not the fact that you are expected "to make an effort" to earn a living. There's a reason they call it "work".
I have many times more than $300,000 and I'm still plugging away at age 62 probably because I actually like working.
1. You can't make this blanket statement.
Three hundred thousand dollars is not enough for anyone to retire on.
2. He said he is going to continue to work a part time job.
You don't know his expense situation, whether he lives above his means, or below them.
You also don't know how much Social Security $$ he is going to be getting.
Nor do you know where he lives, whether it's a high tax or low tax area.
Not everyone wants to work their life away. I have plans besides work and I have them way before age 62.
1. You can't make this blanket statement.
Three hundred thousand dollars is not enough for anyone to retire on.
2. He said he is going to continue to work a part time job.
You don't know his expense situation, whether he lives above his means, or below them.
You also don't know how much Social Security $$ he is going to be getting.
Nor do you know where he lives, whether it's a high tax or low tax area.
Not everyone wants to work their life away. I have plans besides work and I have them way before age 62.
The guy has more issues than this. Honestly he should go get some therapy. Best thing he could do for himself.
The guy has more issues than this. Honestly he should go get some therapy. Best thing he could do for himself.
How could you possibly know my alleged “more issues” from what I posted? The only issue I listed was I feel depressed when I get insomnia which is only when I have work the next day. And feeling depressed some days does not mean depression.
Why not simply find a new, less stressful job? As others have said, $300K is not a lot of money, especially if and WHEN the markets go through a bear market. Even if you're working part-time, one catastrophic financial event could ruin you financially. That, to me, far outweighs stress from work.
Do you have money saved outside of retirement? I would be more inclined to say this was okay for a single person if you had a ton of money saved as an emergency fund.
That may well be, but I'm not a psychologist. I'm a numbers guy.
Keep working on that.
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