Different strokes.... that's what comes across to me in this thread, and I don't think there is anyone here who isn't "on the ball" fwiw.

We're all spending our "finite" amount of time....and can't make any more....so spend wi$ely ;)

Yes, there is a risk pattern with borrowed money that you invest for return in that to quote someone smarter than me, "the market can stay irrational longer than you can stay liquid" which is a real issue when you need to draw money from the asset base to pay retirement expenses.

Face it, we are in an irrational world where the market is irrationally high with returns that are out of sorts with a very low interest rates (negative in some countries) and I fear the world where interest goes up (increasing debt costs), the market crashes (eating my asset base), returns are poor and I am no longer able to work.

At least with a paid off house, all I need to do is pay the taxes and utilities and I am can live risk free.

Dennis

Every day I drag my butt into the office, something like this scenario sounds better and better.

Once my investments cover my basic costs, and a "fun" part time job pays for a vacation or two a year, I'm done. Tentatively at 53-55 YO right now but I have a feeling that a couple bad stock market years between now and then may affect that.

Truer words... The footsteps behind you keep getting louder, and you know your time here is getting shorter. It changes your perspective.

Scott you are way too creative for that. You would be a great consultant, picking clients, helping them out. Put a granny pod out back of the house and set up an office.

My wife and I are both retired , we both worked for Lockheed Martin she quit with 30 years I quit with 26 . She retired 4 years ago I retired 2 years ago . Our goal was to have everything paid off and have at least $750,000.00 cash in the bank .

I am happy to say we over achieved on the cash in the bank and we owe nothing to anyone ! We both have a pension and she is drawing her SS benefits . I plan on pulling my SS benefits sometime between 63-65 . We have a conservative budget that we stick to week to week almost like we were working .

I picked up a part time job working 2 days a week , it helps keep me mentally sharp and provides beer money 😁. We worked VERY hard to get where we are and are really enjoying the fruits of our labor .

I got a part time job but it doesn't pay me. I pay it.

Grandkids.

I'm almost identical to this with a net worth approaching 2 MIL.....Been retired 15 years and still take in over $125K not counting investment income. Grew up poor in a big family. Worked hard and was always frugal.

Could live easily on $50K a year. We are truly blessed with 2 good pensions, 2 healthy IRA's and both drawing SS.....It has helped by not having a house payment since age 26 and never a car payment......For others I know, health insurance is the big nut to crack.......

I'm available for adoption, Bob.

My wife and I both retired at 50. It’s been 12 years now for me. I spend more now than when I was working. More time for hobbies and toys.

Health insurance is our biggest expense, next to taxes.

I was divorced, amicably, 10+ years ago at 44 which halved my savings/investments to that point and set me back quite a bit. Never had a pension so have saved through 401k and stock and real estate investments. I'm now approaching 57 and re-married 4 years back. I know we could live on $60k with everything paid off including a small apt. building that nets $30k annually and will be paid off when I hit 65. I'd feel much more comfortable at $75k to live on. I went to part time as did my wife this year. Our plan is to work longer than I may have thought a few years back but we both like our work and we have a lot of schedule flexibility and time off.

Can you elaborate on 'cash in the bank' please. I ASS-u-ME that you mean in 401K's/IRA's/ROTHs etc. On top of that 'cash' do you have other investments or income, excluding the aforementioned Social Security check. Or do you mean you literally have $750K in a checking or savings account and that's it?

It may sound a dumb question, but the reason I ask is I've met two people (circa 20-30 years older than me) who literally sold every stock they had in their retirement accounts the day they retired. The money was still in their retirement accounts, but it was now cash and therefore effectively devaluing day by day. It worked for them as they never had to worry about the market going down. I am NOT endorsing this!!!!

The money is in a managed account with Morgan Stanley . We basically don't touch it we just let it grow . We are living off my pension , my wife's pension and her SS for now . We can live quite nicely on that income stream . Sometime in the future I will start drawing my SS but for now we don't need it . I am 62 so will pull the trigger on SS when I feel like it .

I like to work though

I probably would do something, even if it were for free. I guess I would probably go work in a free clinic full time, instead of just part time.

I currently have a part time job working 2 days a week it pays me 10K a year . I am using that money for a few more projects on the list . In three years when I hit 65 I will quit the part time gig and start having some fun . I plan to do some kind of volunteer work but not be tied down .