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Not real early: Retire at 61
Old 01-15-2019, 10:45 AM   #1
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Not real early: Retire at 61

I just wanted to do a quick intro. I will turn 61 in a little over a year and plan to retire then. Why? Because I can :-) and also, I am burned out at the current job. My wife retired a few years ago and gets a very nice pension as well as health insurance. We have one child who id half way through college. His collage expenses are covered from dedicated savings.

So, although I enjoy working and would love to find a part time project management job, I just can't take the environment where I am. (I told my wife I would work one more year.)

I have been reading this forum for some time and thought I should sign in and introduce myself.
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Old 01-15-2019, 10:51 AM   #2
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Examine the worst case scenario.
You both retire.
You get zero post-retirement medical insurance benefits.
You have to buy insurance on the market at $xxx/mo.
Can you afford it?

As someone who has been buying individual medical insurance since 2000, I can tell you that it is ugly now and always has been.
My 61-year-old wife's Kaiser HD-HSA Bronze plan is $811/mo.
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Old 01-15-2019, 10:54 AM   #3
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Welcome to the forum as more than a lurker. A lot of people here reached that burned out on the job point before you have. Have you run any of the retirement calculators to see if the additional year is needed? You may be good enough to retire now.
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Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
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Old 01-15-2019, 10:57 AM   #4
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Welcome. This is a great place to be. This next year is a good time to run all the calculators and financial scenarios you can (if you haven't already) to make sure everything is in order.
I learned so much from the wonderful people here, and continue to do so.
Look forward to hearing more from you.
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Old 01-15-2019, 11:00 AM   #5
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Quote:
Originally Posted by davebarnes View Post
Examine the worst case scenario.
You both retire.
You get zero post-retirement medical insurance benefits.
You have to buy insurance on the market at $xxx/mo.
Can you afford it?

As someone who has been buying individual medical insurance since 2000, I can tell you that it is ugly now and always has been.
My 61-year-old wife's Kaiser HD-HSA Bronze plan is $811/mo.
My wife is retired military, so I am hoping nothing changes with our healthcare. I have run various scenarios and am confident we have enough. I personally, think we could live on her pension, but she likes some spending money :-)
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Old 01-15-2019, 11:01 AM   #6
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Originally Posted by 38Chevy454 View Post
Welcome to the forum as more than a lurker. A lot of people here reached that burned out on the job point before you have. Have you run any of the retirement calculators to see if the additional year is needed? You may be good enough to retire now.
I actually do think I could retire now. But I told my wife I would work OMY. Happy wife, happy life.
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Old 01-15-2019, 11:21 AM   #7
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Welcome to the forum!
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Old 01-15-2019, 11:31 AM   #8
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Welcome! Always nice to have another voice in the forum. I thought I enjoyed working also. Then I retired & realized how much more I enjoyed the freedom of retirement. You seem to have a well formed plan. Enjoy the glide path to RE.
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Old 01-15-2019, 06:10 PM   #9
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Welcome to our wonderful site.
Sounds like you are all set with medical, which is huge.
Have you run your numbers through Firecalc and/or other calculators for confirmation?
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Old 01-16-2019, 06:49 AM   #10
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Welcome to the forum.
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Old 01-16-2019, 06:52 AM   #11
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Welcome here and thanks to your wife for her service!!

I also retired at 61 and considered it early retirement compared to

the fellow employees I left behind.

Best to you,

VW
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Old 03-12-2019, 11:35 AM   #12
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I wanted to give everyone an update. The past two months have been a cesspool at work. I have come home angry at least twice a week. So after running the numbers through various scenarios, i am taking the advice I continue to read on here. I turned in my notice today. My last day in the office will be April 19th. I am taking a week off before then. That means 24 more days in the office!!!!
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Old 03-12-2019, 12:33 PM   #13
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Originally Posted by lakerunner View Post
I wanted to give everyone an update. The past two months have been a cesspool at work. I have come home angry at least twice a week. So after running the numbers through various scenarios, i am taking the advice I continue to read on here. I turned in my notice today. My last day in the office will be April 19th. I am taking a week off before then. That means 24 more days in the office!!!!
Hey! Congratulations!
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Old 03-12-2019, 12:38 PM   #14
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Quote:
Originally Posted by lakerunner View Post
I wanted to give everyone an update. The past two months have been a cesspool at work. I have come home angry at least twice a week. So after running the numbers through various scenarios, i am taking the advice I continue to read on here. I turned in my notice today. My last day in the office will be April 19th. I am taking a week off before then. That means 24 more days in the office!!!!
Congratulations. I was going to do OMY, you made the right decision..
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Old 03-12-2019, 01:02 PM   #15
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Congratulations!!! Welcome to the club!
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Old 03-12-2019, 06:26 PM   #16
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Quote:
Originally Posted by lakerunner View Post
I wanted to give everyone an update. The past two months have been a cesspool at work. I have come home angry at least twice a week. So after running the numbers through various scenarios, i am taking the advice I continue to read on here. I turned in my notice today. My last day in the office will be April 19th. I am taking a week off before then. That means 24 more days in the office!!!!


Congrats, really sounds like you have had enough. Not worth the stress with everything left to do in life...Enjoy!
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Old 03-12-2019, 09:42 PM   #17
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Congratulations on your decision! Must be a huge relief.
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Old 03-12-2019, 09:56 PM   #18
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Congratulations! I retired last summer at 61 and 2 weeks and it is the second best ( I've been married 36 years ) decision I ever made. Good luck but keep your options open. I was just offered a job dream job for more than i was making before. I'm an engineer and the job is all the fun problem solving and none of the crazy Baloney Sausage I had to put up my last few years as an engineering manager.The best part is that I don't need the job so I don't have to put up with any bureaucracy. I can quit whenever I want.
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Old 03-13-2019, 01:53 AM   #19
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Congrats lakerunner. You won't regret the decision. Now you will be starting the best phase of your life.
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Old 03-13-2019, 02:29 AM   #20
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congrats
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