Retired at age 52

[fintstone]

There is a woman out there somewhere that would torture you into admitting that you are not.

[dmcummins]

Originally Posted by ckelly78z

I echo this problem, 53....no debt, a large 401K, a company pension, simple lifestyle, but insurance is the problem.

We were somewhat fortunate to be able to stay on my wife’s insurance plan. It only cost us around $1,500 a month.

I thought that now you could get on the obama care plans. These were not available when I retired.

[dmcummins]

Originally Posted by fintstone

Seems to me that it would be very hard to know when one has enough money to retire. I want to do things today that I did not at 52. None are cheap.

You have to include some cushion. I sure didn’t plan on buying a plane, but I did sell my longhoods that helped a little. Also the market made things easy the last 11 years. I’m just happy about all the things I have been able to do since I haven’t had to go to work. But it didn’t help that I had to put in long hours at my old job.

[Jandrews]

Interesting and inspiring story, McLovin. Sounds like you did all the right things, including being willing to take some calculated risks.

Would you be willing to share some pictures of your property portfolio? Kind of hard to visualize whether we are talking about skyscrapers or duplexes. More curious than anything, just to see what types of properties are working for you.

Thanks,

JA

[jhynesrockmtn]

Congrats and enjoy! I am 55 and keep being told I have enough assets and income to retire but I am skeptical. If my wife were in the situation yours is that would make the difference but she is a bit older than me and wants to go part time next year and start taking her SS at 62. She will work enough to buy her medical insurance until 65. I am starting a new gig in a few weeks and hope it will be my last. Once our income property is paid off that should provide for 80% of our budget. SS and our stock and retirement portfolio will make up the rest. My doomsday scenario if all went to hell would be to move into the apartment building. The units are nice and it's in a better neighborhood than the house :-)

[Rapewta]

Good for you. You deserve it. I served 4 years after turning eighteen. Then worked 40 years in the same construction electrician job. Of course I moved up the ladder. And was a crew chief and
foreman.. yada yada yada... But I retired at 58. Pension and SS. Ten years ago in 2008 and
I am loving this retirement.

You know... one quarter of our life is becoming a man. Then we spend 50 percent of our life
making a family and a living. Then... the last 25 percent of our life is retirement and I am loving every day. I earned it.

[Crowbob]

Well said, Rapewta.

[t6dpilot]

Congrats McLovin! Sounds like you laid out a plan, executed it religiously, had some good RE investment timing and luck, took some risks with that and boom, made it pay out for you. If you had cash in 08/09/10 and were inclined to snap up RE investment properties, you are most definitely doing well. Lots of folks unfortunately were cash strapped in that period (even RE investors) and were unable to capitalize. Great that you were able to do that and succeed.

A couple of years ago in my early 50's, I decided to "retire" for good from that corporate grind and do something fun. Thankfully, I have the skills and the industry timing is almost perfect. I decided to get paid for something I love - flying. Yes, it is work and I am away from home, but honestly, I consider this my retirement job since I am having so much fun. Wife works with great income and our savings is enough that we could both retire now, so I am able to endure the new hire low pay. Great health insurance was a big reason that I decided to do this - well, honestly, getting paid for what I love to do helps too. And had a big surprise a few months ago... After only just over a year and a half, got hired at a major - and living in base. Bam! It is work, but just doesn't feel like it to me. I'll play this out for the next dozen years or so, max out retirement benefits, then officially hang up the wings. Life is good right now.