hey, we are taking the plunge in the midwest

[Sunny]

So not sure what to say other than we are counting down this year, because it marks the last year of our employment!!!

I've been out of work for awhile, but my wife officially retires 12/31/2015. We feel overwhelmed and ill-prepared, but now we will have time to figure it out.

Yeah, I know, we did it backwards. But we have a bit of a pension and enough assets to lead a frugal life. That I am not concerned about. What I am concerned about is how to maximize that life now!

[Katiek]

Welcome! I look forward to hearing about this next stage .

[kimcdougc]

Welcome, good luck figuring it all out!

[Bamaman]

Congratulations on your wife's spending retirement. It's nice doing what you want when you want to do it. And it's nice to sleep late.

I do try to get my wife up to watch Let's Make a Deal and the Price is Right--positive ways to start your day.

But I warn you that your retirement may turn into work time. Wives are very good at providing us retirees with a long list of honey-do's. I've been retired 7 years and have barely scratched the surface of what my wife has in store for me.

[cyber888]

Good luck Sunny. I'm in the same boat as you for end of next year.

[jimandthom]

Quote:

Originally Posted by Sunny So not sure what to say other than we are counting down this year, because it marks the last year of our employment!!! I've been out of work for awhile, but my wife officially retires 12/31/2015. We feel overwhelmed and ill-prepared, but now we will have time to figure it out. Yeah, I know, we did it backwards. But we have a bit of a pension and enough assets to lead a frugal life. That I am not concerned about. What I am concerned about is how to maximize that life now!

Does Sunny stand for you disposition? It seems as though it must.

Your very last sentence is what struck me, and our goal is the maximize our time together.

I will still be working part-time however having an older house plus a great employee discount (hardware store), makes it worthwhile for those few hours a week.

[Sunny]

Quote:

Originally Posted by jimandthom Does Sunny stand for you disposition? It seems as though it must. Your very last sentence is what struck me, and our goal is the maximize our time together. I will still be working part-time however having an older house plus a great employee discount (hardware store), makes it worthwhile for those few hours a week.

Yes, pretty much. My wife has always maintained I am the most positive person she has ever met. I wasn't always so and had a fairly rough upbringing. I was never downtrodden, but in my 20's I just finally decided attitude/outlook was one of the very few things in life you have some measure of control over.

Thanks all for the warm welcome. I plan on hanging around here when I get the chance, this really seems like a great forum.

[cyber888]

With this abrupt retirement, I hope your nest egg can last you more than 20 years.

[Sunny]

Quote:

Originally Posted by cyber888 With this abrupt retirement, I hope your nest egg can last you more than 20 years.

Thanks for the concern. Hopefully it will last longer than that (if needed) though! Although this is somewhat sudden it wouldn't be happening if we didn't think it'd be fine. With current, well tracked expenses over years, adding $ for travel, adding $$ for insurance, adjusting for 15% year over year increase in insurance...we should be fine as indicated by various calculations, firecalc, and a financial planner (that last one I know is dubious, we really need to stop those fees).

With current annual spending of less than $40k a year (not all of that is spending, some of it is 'saving' for repairs and such), pension for both lives starting at $24k a year immediately, no cola but a second pension of $22k a year for both lives starting in 9 years, no mortgage, and $1.5million nest egg it *should* be fine unless we start wanting to eat at 5 star restaurants and increase our spending dramatically. Nothing in life is guaranteed, but it looks good to me.

[tmm99]

It sounds great to me. Congratulations!


Sent from my iPad using Early Retirement Forum

[Diver]

Congrats, Sunny!

[Sunset]

Sunny you sound financially fine, just be sure to act on getting rid of that FA unless you truly feel the need to pay out tens of thousands of dollars over the next few years.

Welcome.

[cyber888]

congrats. good job Sunny. That's more than enough. Just enjoy life now.

Quote:

Originally Posted by Sunny Thanks for the concern. Hopefully it will last longer than that (if needed) though! Although this is somewhat sudden it wouldn't be happening if we didn't think it'd be fine. With current, well tracked expenses over years, adding $ for travel, adding $$ for insurance, adjusting for 15% year over year increase in insurance...we should be fine as indicated by various calculations, firecalc, and a financial planner (that last one I know is dubious, we really need to stop those fees). With current annual spending of less than $40k a year (not all of that is spending, some of it is 'saving' for repairs and such), pension for both lives starting at $24k a year immediately, no cola but a second pension of $22k a year for both lives starting in 9 years, no mortgage, and $1.5million nest egg it *should* be fine unless we start wanting to eat at 5 star restaurants and increase our spending dramatically. Nothing in life is guaranteed, but it looks good to me.