|
I just retired in April at 50. I have two kids, 14 and 15. I still have a mortgage on our house but it's relatively low and at a very low interest rate. Wife still works and brings home a little extra but my retirement covers all of our expenses and then some. She indicated she'll keep working until she's tired of her job.
I think having kids in the house makes all the difference because you'll be busy with them. During school I was picking them up from school, dropping them off at a friends house, taking them to practice etc. Now that it's summer I'm able to take them places at more convenient times when most people are still at work. We saw Jurassic World Dominion in 3D a few days ago and were the only people in the theater. I told them I bought the place out LOL. Today we're going to the aquarium.
My schedule since I retired:
6:30am - get up
7:00am - finish breakfast
8:00-10am - Home Gym
:-)
The only other advice is to make sure you have a healthy emergency fund. We've had to tap into ours already a few times for major service on two cars and we had a flood in the basement. We'll need a new roof and AC unit soon as well so I planned on all that. Better to have money in the bank so it's not a hardship when it happens.
Finally, I think it's best if your wife is on board. At the very least I would make sure you can live on just your retirement without her income. Good luck!
|