I was dabbling with FIRE in my early 50s and was told here that I didn't have enough then. I kept working for another 5 years and then got caught in a buzz saw job that I just couldn't take any more. I have been out for five months now, "enjoying" unemployment and exploring consulting. At some point, I need to make a decision what to do about unemployment and working-- plus what to do with my time!
Details: My net worth is $605K, house is $110 (net, worth $150K) of that. Of the financial assets, I can touch about $80k right now. The remainder is in stocks, REITs and annuities. I am single. I think I can do quite well on $35K a year, maybe less. I live in Cleveland OH where we say everything is cheap and easy.
My financial guy says I can make it to 2030 doing nothing. He says I never need to worry if I can make even $10K a year. But I see my 88 yo mom who has $10K to her name, now on HUD assistance and soon, Medicaid. Do I REALLY have enough?
Any idea about my situation? Do I need to keep working? If so, how much?
Oh and right now, I have to say I am not enjoying myself-- adjusting after 42 years of work is a bitch. Since I am not sure where I am financially, I am hard at work doing gig searching-- that ain't fun. The heat keeps me from (enjoying) my favorite activities-- hiking and biking., The time is dragging, I feel quite alone at times, and the lack of routine leaves me a bit lost and feeling useless at times.
Sorry not to be upbeat-- I realize this is a transition phase of retirement, so I am doing one day at a time. There are gifts and I can see and often experience them. But in between.....
Thanks for any words of wise wisdom!