Am I crazy to retire now? (depression, 2015, kid, dad)
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Figure out how to bridge the income gap till age 66, W/o taking early SS.
There are many options. consider them all (sell the kids, sell the car, beg on the street corner, get SSD.... This may be ez'r than working.
If you cannot figure it out... continuing working until the incentive to leave uncovers an available option to fund a minimalist existence for a couple yrs.
I agree.
If the OP doesn't have any debt or mortgage then, with a little planning, it is possible to live on very little with the big one being medical insurance and medical costs.
We all know medical insurance can get very expensive between 63 and 65 so if possible another 18 months or so to medicare? If it really gets to you go another 6 months or so to age 64 and then take COBRA.
If the prospect of leaving in six months brings a smile to your face then it is time for you to leave.
If the OP doesn't have any debt or mortgage then, with a little planning, it is possible to live on very little with the big one being medical insurance and medical costs.
We all know medical insurance can get very expensive between 63 and 65 so if possible another 18 months or so to medicare? If it really gets to you go another 6 months or so to age 64 and then take COBRA.
If the prospect of leaving in six months brings a smile to your face then it is time for you to leave.
I do have a small mortgage, but I hope to work it out so I will be making more money in retirement than I did while I was working. I get a huge smile on my face at the thought of retirement. I am aiming for October of this year. I've had enough of this job. I want to start a new chapter in my life. I will probably just veg out for the first few weeks, then start working on my house and yard. No more commuting; no more deadlines, no more alarm clocks.
Many claim it to be one of the best places on Earth to Veg... Might be a good introductory course to 'Retirement'. - I hear the secret is to go to one of the more remote islands, not anything even close to tourism. A USA friend had their very own bay for a week. It was quite a retreat from Winter at Home.... NOBODY is in a hurry here! Cook Islands - Wikipedia, the free encyclopedia
I'm planning another 'adios' in Oct, (41 yrs of service) so let me know which Island you are headed to and I will find another so we can each have our own 'paradise'.
Retire early... retire often... I'm still many yrs away from Medicare, so will be back at a job in 18 months (Cobra) for HC. Or if spouse kicks the bucket I will be living internationally. or if I kick the bucket , my spouse will have the necessary $$$ to buy needed HC till their departure date.
Have a great 5 months!!! See you in Oct!
BTW: I have been 'alarm clock free' since 1973. It is GREAT (I have never owned a watch either. I LUV Flex hours, but that has ruined me for 'time-clock / fixed schedule' based employment)
Last edited by StealthRabbit; 06-07-2014 at 03:57 AM..
Many claim it to be one of the best places on Earth to Veg... Might be a good introductory course to 'Retirement'. - I hear the secret is to go to one of the more remote islands, not anything even close to tourism. A USA friend had their very own bay for a week. It was quite a retreat from Winter at Home.... NOBODY is in a hurry here! Cook Islands - Wikipedia, the free encyclopedia
I'm planning another 'adios' in Oct, (41 yrs of service) so let me know which Island you are headed to and I will find another so we can each have our own 'paradise'.
Retire early... retire often... I'm still many yrs away from Medicare, so will be back at a job in 18 months (Cobra) for HC. Or if spouse kicks the bucket I will be living internationally. or if I kick the bucket , my spouse will have the necessary $$$ to buy needed HC till their departure date.
Have a great 5 months!!! See you in Oct!
BTW: I have been 'alarm clock free' since 1973. It is GREAT (I have never owned a watch either. I LUV Flex hours, but that has ruined me for 'time-clock / fixed schedule' based employment)
LOL, thanks for your comments Stealth. I have been living in the sub-tropics for these 41 years. I do not like hot, humid weather. I am actually looking forward to experiencing spring, fall and winter again!! No tropical island for me, although I wouldn't say no to another visit to Hawaii I've done some traveling in past years (Guatemala, Jamaica, Puerto Rico, Cayman Islands, Mexico), but I am looking forward to seeing more of the U.S. when I retire, maybe parts of Canada too.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by popcorn247
LOL, .... I do not like hot, humid weather. I am actually looking forward to experiencing spring, fall and winter again!! ...I am looking forward to seeing more of the U.S. when I retire, maybe parts of Canada too.
OK, I can certainly appreciate that as I sit in my skivvies @ 10pm in Thailand (Thank goodness for sea breeze, and that mosquitoes don't come up to 37th story (unless via the 'Lift'))
or leaving at the airport parking lot for a quick fight home to feed the dog. (every month or so)
Tucson Airport is a great place to leave it... Covered parking for $3/day! Sometimes I find a cheap weekend flight to some crazy place (I get Weds emails from airlines on bargains for the following weekend). Once to Tokyo for $300.
Agree that there is plenty to see and enjoy in USA, and even better the younger / (more healthy / physically capable) you are.
Thus... hope you can wait till OCT. Take care of your Body and mind. That will be quite an asset going forward!
I do have a small mortgage, but I hope to work it out so I will be making more money in retirement than I did while I was working. I get a huge smile on my face at the thought of retirement. I am aiming for October of this year. I've had enough of this job. I want to start a new chapter in my life. I will probably just veg out for the first few weeks, then start working on my house and yard. No more commuting; no more deadlines, no more alarm clocks.
This is what motivates me when I feel blah - I remember when - when I had all those nasty things to deal with and then nothing else seems so tough.
I've worked 41 years for the same non-profit. I've been putting money into a 403b for 40 years (TIAA-CREF). I am 63 years old. I just can't continue working at this place! My emotional and physical well-being is suffering....boredom, stress, lack of appreciation, etc. and a very long commute (since 1978) has just about made me nuts!
I want to retire in a few months....and take early Social Security.....so many people say to wait, but I just can't.
As long as you're sure you have enough money, there's no reason not to do it.
Have you consulted with a financial professional to determine the base of investment that you need to provide sufficient retirement income?
Thanks. Perhaps I was a bit dramatic, but I hear so much about waiting until full SS age, etc. I have no credit card debt and have an extremely good (high) credit rating (800+). I just need to make some financial decisions and go with it. My career has been very rewarding, just the thought of retiring is making me waver between extreme happiness and slight panic. My father had to work his entire life (75). I guess that I am really blessed to be in this situation but I feel the need to be so careful with investments, etc.
I should imagine retiring early is a difficult decision, I'd say you have to factor in what your monthly expenses versus income will be upon retirement, consider any family members that are still reliant on you as a financial provider and have a thought about whether you intend to stay put at home in the country where you are now or move to somewhere that would make you actually feel relaxed and at ease for the rest of your life.
This is what motivates me when I feel blah - I remember when - when I had all those nasty things to deal with and then nothing else seems so tough.
Thank you Umbria. Your comments give me hope.
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again!! No tropical island for me, although I wouldn't say no to another visit to Hawaii
I've done some traveling in past years (Guatemala, Jamaica, Puerto Rico, Cayman Islands, Mexico), but I am looking forward to seeing more of the U.S. when I retire, maybe parts of Canada too.
Take care of your Body and mind. That will be quite an asset going forward!
