Retirement at 54 (pension, communities, graduate, vacation)

[StealthRabbit]

Op can, and will do whatever they want! Surprised?

They just stated THEY want $70k / yr, not YOUR $40 k/ yr, right???

Night shift? Your choice too.... I did 38 yrs of it, and would never consider a day job.... i prefer having every DAY off

Of course you also retired early (right?). So know all the ends and outs.

ACA is not here today as it was rolled out, my estimated premiums are only up a mere 200% in the 3 yrs it has been available, and every year more providers have dropped than joined. Glad it has worked so well for you, but OP might find a different result.

ACA is not an affordable or available option for all, nor will it ever be.

[MCNE]

Originally Posted by reneeh63

Sorry OP but you sound like you picked an age that you WANTED to retire and even though you've checked with some advisors you just won't be dissuaded. I don't know if you'd always wanted to retire then but ended up divorced and now you'll be danged if SHE makes you work longer?

Don't quit your job before you get all these kinks ironed out....jobs with health insurance are hard to come by - especially if you only want to work a few months a year - that won't do you any good at all for insurance purposes.

Not at all but looking for gaps and how much possible part-time income i might need. I didn't get this far along by being foolish but the gap will need to be large to hang in there past 2019.

No divorce and will never have one👍.

[Vision67]

The OP is doing the right thing.

Think and ask questions and discover the real issues before you act.

Learn from people who have gone down that path before you.

[MadManofBethesda]

Originally Posted by Submariner

It is not disingenuous nor dishonest. I freely admit that I live in a low COL lifestyle in a low COL state. I am an organic farmer [my farm income is really tiny ] What I present to this forum is entirely genuine and honest.

We are on solar-power. We have been heating with wood [though we are in the process of shifting to solar-thermal heating]. We produce the majority of our food. I see nothing dishonest in any of this.

I have explained my lifestyle many times, as you yourself have just explained.

Yes, you have explained that many times to the regulars here in this online community; but the OP asking for retirement advice is new here and wouldn't be familiar with your lifestyle. That's why I believe it to be wrong to tell him that he could easily live in retirement on less than 30% of his working income without informing him how you manage to do so.

[jlawrence01]

Originally Posted by MCNE

OMG...It was an example . I do have a skill set that would allow me to consult but continuing to work a corporate role isn't in my future long term.

YOU brought up Starbucks.

[MCNE]

YEP, shame on me for expecting more. Now I know.

[reneeh63]

Originally Posted by MCNE

Not at all but looking for gaps and how much possible part-time income i might need. I didn't get this far along by being foolish but the gap will need to be large to hang in there past 2019.

No divorce and will never have one👍.

Okay...I misread something you'd said earlier. You just sound kind of ticked...and yet you haven't looked too closely at SS benefits or health insurance - two huge areas that will impact your early retirement.

[MCNE]

Well yes and no I guess. The analysts I've worked with absolutely capture that information. Its a must have to deliver any type of personal financial profile for retirement. What I haven't done that I've read in this posting is apply possible strategies with the cash I'll have in retirement. Someone mentioned subsidizing medical cover...areas like that.

Still I appreciate all of the feedback and I mean all of it. You learn something with each post in my opinion.

[StealthRabbit]

• Have flexible accounts with accessible capital
• Plan A-Z for Healthcare, and a few extra options.
• Stay flexible, as you will probably move / change plans a few times.
• Listen
• Learn
• Enjoy. (I like stopping to change flat tires, help seniors, carry out groceries, shovel snow, ...help with care needs of others (stroke recovery, memory care, home and car maint, mission / NGO teaching on extended trips)

My age 49 retirement highlighted a few extra needs of spending 40+ yrs out of the gravy train.

• Lifelong cash flows
• Difficulty in securing business / investment loans without paystubs / BEFORE SS / regular significant IRA distibutions (you can mitigate to an extent with a 72t). Rolling IRAs to 72t in amounts required.)
• USA Gov can reverse or disallow your affordable HC options (3 of mine were torpedoed)
• Very healthy and trim Spouse (or self) can become terminally ill without warning
• Adult kids who don't put a priority on HC may become a financial hit
  
• Finding Best ways to utilize your skills to the benefit of others (I did several gigs with non-profits)
• Continuing ed.. (i did a masters program post age 50), totally different field, but of 'lifelong value

Few people will take you serious, that you are retired pre-age 65 (how dare you!)

I would / should have done it at age 30, then gone back to work after kids left home. (If I had to)
That would have been very easy if I had a working spouse. Instead, we gave 1/2 of assets away at age 39 to fund a perpetual family foundation, then focused on getting out of wage employment by age 50.

Not perfect, but enjoyable.

[aridon]

Watch out for the Windfall Elimination Provision if you do not work your full allotment of years. Only read the first page, not sure if it was mentioned.