Retire in 8 months or 2-1/4 years?

[Hugh R]

The Trophy Wife wants to retire next Summer from her school Admin. job. She's really tired of the BS with the School Board. She's 60, I'm, almost 63. We took the big-ass RV to Carpenteria State Beach this weekend and had a great time, Something we need to do more of.

Financially, I can go either way, I love working for Disney, but get tired of getting up every day at 4:45 AM; sleeping until 8 or so is attractive.

UPSIDE: Life, I don't want to die too early after working the last 47 years of my life (since I went in the USMC at 17). I'd actually like to enjoy a few years of NOT working every effing day.

DOWNSIDE: We make a lot of money for what we do and she makes about 1/2 of our family income, so her loss on income, with some pension will help, but Southern California is expensive to live.

ADJUSTMENT: We may move to the Poconos, PA to be near our two Grandsons (ages 1 & 3). Selling our SoCal house and our income Condo in Ventura, Ca, for about $1MM but buy another SoCal condo/beach house.

Our rough plan is to move to PA, and live there 6 Months+1 day and live in SoCal 6 months-1 day and not pay CA income taxes,

My daughter married a really rich guy who is a partner with Price, Waterhouse, Coopers and they have offered their 200 year old Farm house, next to their McMansion, to us for next to nothing, its been totally modernized with double pane windows, HVAC, etc. I might want to spend $50K on the Kitchen, etc.

[cockerpunk]

what is life without work?

[Hugh R]

I understand, have you worked to support yourself for 47 years? At some point it gets old.

[wildthing]

Pension or 401k + SS?

Also figure out some sort of activity to keep you busy. Passion project or something...

[Noah930]

Your job sounds interesting, and my kids love Disney. If/when you retire, can ya put a in a good word for me to take over your spot? Will be a little sad to see you leave LA.

I vote for retirement. It sounds like financially you can swing it. Enjoy life (and your family) while you've still got the physical ability to do so. Not that you plan on it, but if something financially catastrophic occurs down the road where you are no longer able to work, it sounds like you have a good enough relationship with your kids that they could always support you and the missus.

[Hugh R]

Pension. 401K, IRAs, SS between us is plenty. Yeah, need to learn to like golf or something. I'll miss the 1st class international travel for work, I'll bet I've been to fifty countries in the last two decades, courtesy of Disney.

[Noah930]

Easy choice, Hugh.

[Tobra]

It really is


You will miss that travel a lot less bouncing a grandkid on your knee.

[sc_rufctr]

Originally Posted by Hugh R

I understand, have you worked to support yourself for 47 years? At some point it gets old.

Sounds like you've already made the decision.

No one knows the future or how long they've got. If you can retire now then do it.

(Any chance of a photo of the "Trophy Wife"? )

[MMiller]

Originally Posted by cockerpunk

what is life without work?

Better...if you can afford it.


I agree with others... Enjoy some downtime, kids, grandkids. Golf is a good start..it's more madding than work

[Tishabet]

Originally Posted by cockerpunk

what is life without work?

Not sure whether to scoff or feel sad.

Hugh, time to enjoy the fruits of your labor... if your RV ever wanders up this way I will buy you a beer, after all you're on a budget

[Evans, Marv]

Retirement is nice, but realistically speaking it's a transition to another kind of life. It's very important to map out your interests, activities, and long term plans. At 63, you have a good probability of hanging around another quarter century. You don't want to only plan as far as bouncing your grandkids on your knees. There will come a point when they will be too big, heavy, and old for that. Of course there will be other things to do with them, but they will eventually make their own lives independent of their parents and you. Your golf comment might indicate you're not sure of what interesting activities you'll occupy your time with. In the shorter term, you could look into working on a consulting basis where you can pick & choose. In my retired life of twelve years, I occupy my time with projects among other things. I try to accomplish something everyday no matter how large or small. I enjoy physical work as a continuing activity, since it provides productive exercise and keeps me going. You will probably find your interests and some of your values changing over time just like any block of time you pass through in life, so that has to be taken into account (just like I no longer like to "work out", but enjoy physical work as a replacement). The main thing is to stay motivated, interested, active, and engaged. Best of luck and have fun.

[dan88911]

If money and health is not an issue.
Then it's about how you will spend your time.
Looking forward to playing golf, fishing or bumping the grandkids on your knee every weekend is fun. Will it be fun every day?
Some stuff looses it's pizzazz. If you get my point.

That being said Warren Buffet is one of the riches men in the world and still works cause he enjoys it.
What does your gut tell you minus emotion.

[LakeCleElum]

Retire - You have worked long and hard. U deserve it....You can afford it....Nothing beats to doing things on your own terms.

I burned the candle at both ends starting to work 7 days a week at a gas station at age 15....I worked 30-40 hrs a week while in college. I always worked extra jobs, did everything the hard way (cheep) and went without all my life to retire early. Age 52. After 10 years, I only took a part time job to help a friend of mine that got elected and needed my help....I schedule my own time and never more than 6 to 10 days a month (on call 24 hrs a day).......If that gets too much, I might give that up also?

Keep us posted Hugh, your wife will like retirement also....

[atcjorg]

Originally Posted by cockerpunk

what is life without work?

fun!!!!!

[DanielDudley]

Originally Posted by Hugh R

I understand, have you worked to support yourself for 47 years? At some point it gets old.

Sounds like an answer to me.

[DanielDudley]

Originally Posted by Hugh R

I understand, have you worked to support yourself for 47 years? At some point it gets old.

Sounds like an answer to me. I didn't hear you mention any upside to staying at work.

[dennis in se pa]

I wish I had retired sooner. I love having all day to do what I want to do, and not having to put up with ANY BS!

[jcommin]

Hugh, I'm happy for you. IMO, there are 2 factors when retiring: be financially set for the income you have (it sounds like you have that part) and something to do with you time (the most important part). And it sounds like you are working on that.

I'm 66 and I'm getting tired of the grind. I love what I do - I'm tired of the corporate world. I had a retirement date set in mind but I have milestones prior to that. It is a pause to decide whether of not to just call it a day. My next milestone is when my youngest son graduates college in Dec of 2017. I will be exactly where you are now - stay or go.

all the best Hugh!

[Don Ro]

Originally Posted by dennis in se pa

I wish I had retired sooner. I love having all day to do what I want to do, and not having to put up with ANY BS!

Here's what I have always said (to anyone who'd listen ) "It's "work" if I'm not into it, if I am then it's not 'work"...it's enjoyment.
My last 8 yrs. of self-employment were miserable...I retired as soon as I qualified for SS.

Right around the age of 40 or so, I began to fear the possibility of not having the funds to retire (again, self-employed)...I mean, waking up at 3 AM with night sweats, wet blankets, pillow, the works...so I dedicated myself to accumulating $$$$$$$ to facilitate my dropping out and enjoying whatever I wanted to do - even if that was nothing.

The beauty of my life now (8 yrs. retired) is that when I awaken each morning I don't HAVE to do what I planned yesterday.

I'd take the 200 year old Farm house!!!
Good luck, Hugh.