[fintstone]

Originally Posted by Jim Richards

fint, we've looked at our expenses, savings, and various social security scenarios (e.g., ages that we file for it) and I think we're on solid ground. My wife is the pessimist in our household, too. Still, when my brother that was a year older than me passed away not too long ago, it made us think. I've been working since I was 15. I'd like to do some things that are more enjoyable than work. And I'd like to do them in a nicer climate.

I think I am stuck living most of the time near my elderly mother who will not leave her home so we bought my wife's dream house as a bribe to stay since she doesn't like my mom (mom is nice to no one, including me and I am the offspring she likes least despite the fact that we do much for her) and really did not like the area. I can't complain because I love the fabulous house and it would cost more than double what I paid if it were anywhere else. The down side is a big mortgage and several acres to mow almost every weekend in the summer, but the cost/mortgage is really pretty manageable. When my daughter comes back to the States next year(currently in Korea), we may just vacation at her house (or find a modest vacation place of our own there...depending on how much we like the area and cost.

Since my wife has already retired, she is in no hurry for me to do so (she enjoys just sitting around the house). I have also worked since very young and am fortunate to have a couple of very generous defined benefit plans that will pay as long as I live and my wife has one as well (any of the three would be enough to live on modestly). We both worked hard and lived very frugally (other than investing in nice homes in nice areas) and been very lucky, so we have large TSP investments as well as significant real estate equity and income (multiple rentals). A few years back, it looked pretty bleak because we lost 7 figures (on paper) in the stock market/real estate crash...but we toughed it out by living even more frugally until I could pay down some mortgages and both the real estate and the stock markets recovered. Taking a sucky job in a sucky place that paid more also helped.

My family has a history of long, healthy life...so I am torn between worrying that I will not live long enough (to enjoy myself)...or will live too long (and run out of money)...although neither fear seems grounded in reality.

I assume you are FERS and did not wait for 62. That is a significant difference (probably over 12%) to wait (over retiring at 60...even more for younger). How were you able to justify walking away from that (as 12% usually takes 12 years to gain). Just the thought that after 30 years, you are working for about 60% pay since you would get about 40% of that not to work (1% per year plus offset)?