Howdy y'all,
I've been lurking on this forum for quite awhile, and I figured it was time to take the plunge and make a post...
I'm 55 and I retired a few months ago after working for 20+ years for a local government. Actually I'm still doing some part-time contract work for my ex-employer (basically training my replacement) so it doesn't feel like I'm completely retired yet. But I'm really enjoying all the free time that I have now -- I'm getting more sleep and watching more sports on TV ....
I'm getting a pension of about $32K per year, plus I get to keep my health care benefits in retirement (altho I have to pay 30% of the premium). Thanks to LBMM for many years, I've got a nest egg of about $475K; but my plan is to leave that untouched if I possibly can, and just live off my pension. Based on my tracking of expenses during my pre-retirement years, I think that's very possible. I don't have a wife and kids to spend my money ... ... and I have no debts (I sold some Vanguard index fund shares last summer to pay off the mortgage) so I feel quite confident in my ability to just live on my pension income.
For me, it was just time to retire. I was constantly saying to myself, "I don't want to work anymore." Work just felt like a grind. And like most state and local governments, my ex-employer is struggling. There were budget cuts in recent years, and more are coming. Also, I'm one of those people who tends to get depressed and anxious. Over the last 2 or 3 years of my working life, I was taking anti-depressant / anti-anxiety medication. I was tired of taking pills, and that was another reason for leaving. I'm drug-free now!
I don't really have any questions for y'all. I just want to say that I enjoy this forum very much; I take inspiration from everyone's stories. If anyone has any advice on do's and don'ts, please let me know!
I've been lurking on this forum for quite awhile, and I figured it was time to take the plunge and make a post...
I'm 55 and I retired a few months ago after working for 20+ years for a local government. Actually I'm still doing some part-time contract work for my ex-employer (basically training my replacement) so it doesn't feel like I'm completely retired yet. But I'm really enjoying all the free time that I have now -- I'm getting more sleep and watching more sports on TV ....
I'm getting a pension of about $32K per year, plus I get to keep my health care benefits in retirement (altho I have to pay 30% of the premium). Thanks to LBMM for many years, I've got a nest egg of about $475K; but my plan is to leave that untouched if I possibly can, and just live off my pension. Based on my tracking of expenses during my pre-retirement years, I think that's very possible. I don't have a wife and kids to spend my money ... ... and I have no debts (I sold some Vanguard index fund shares last summer to pay off the mortgage) so I feel quite confident in my ability to just live on my pension income.
For me, it was just time to retire. I was constantly saying to myself, "I don't want to work anymore." Work just felt like a grind. And like most state and local governments, my ex-employer is struggling. There were budget cuts in recent years, and more are coming. Also, I'm one of those people who tends to get depressed and anxious. Over the last 2 or 3 years of my working life, I was taking anti-depressant / anti-anxiety medication. I was tired of taking pills, and that was another reason for leaving. I'm drug-free now!
I don't really have any questions for y'all. I just want to say that I enjoy this forum very much; I take inspiration from everyone's stories. If anyone has any advice on do's and don'ts, please let me know!