Partially FIREd in DC

[FurBall]

Hi. I've been lurking for quite a while and I very much enjoy both the content and friendly, supportive tone of this board.

DH: 68. Involuntarily retired 10 years ago. At first it was going to be temporary, but we soon discovered that we could live on one income and that having someone at home dramatically improved the quality of life for both of us. So he never sought other employment.

Me: 57. Voluntarily retired 2 years ago. Started consulting 3 days/week shortly thereafter. Consulting gig pays well and for each month I work I cover that month's expenses and save a month's worth of expenses.

Financial Facts:
House paid off -- we'd like to retire in place.
Savings: $2.8 million. Current allocation ~50% stock, 25% bonds, 25% cash
Pension: None. DH collects SS.
Health Insurance: DH covered by Medicare and Medigap. I have individual coverage from CareFirst ($204 premium, $2700 deductible, HSA)
Need: $60K after taxes. FIRECalc and others all say we have enough.

Worries: Health insurance rates. Inflation.

Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.

 

[militaryman]

Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.

Hmmm It is a Philosophical question because on paper you have plenty to meet your estimated needs. Even at 3% withdrawl rate ($84k per year plus his SS which is probably enough to cover the taxes eh?)

Are you able to toake a "leave of abscense" from the consulting, for say 6 months, to "try out" fulltime retirement?

 

[DougViages]

We're doing the Partial FIRE'd, too.

I (DH-55) am down to 24 hours/week. My DW(56) is starting to work a day at home, and should slide down to 24 hrs/week in 2009. It's an adjustment, and we are planning to "test" retirement with a year off in 2009/2010.

We also have $2.5MM plus in assets, but worry about inflation and health care costs.

 

[Moemg]

Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.

Welcome , I hate to be the bearer of bad news but even working zilch I do not have enough time to do all the things I want to do .

 

[FurBall]

Hmmm It is a Philosophical question because on paper you have plenty to meet your estimated needs. Even at 3% withdrawl rate ($84k per year plus his SS which is probably enough to cover the taxes eh?)

Are you able to toake a "leave of abscense" from the consulting, for say 6 months, to "try out" fulltime retirement?

I don't think I could take a leave of absence and go back. But I did try out full retirement for 4 months before being lured back. It was wonderful. I just have trouble turning down great pay, low stress, interesting work.

 

[haha]

I just have trouble turning down great pay, low stress, interesting work.

Gee, how weird.

Ha

 

[Marquette]

I just have trouble turning down great pay, low stress, interesting work.

But you can only be a porn star for so long...

 

[aaronc879]

I just have trouble turning down great pay, low stress, interesting work.

Certainly beats my low pay, high stress, uninteresting work.

 

[Sarah in SC]

Play now, while you are both able.
There may be a time in the future when your DH may not be so active, and you can return to this interesting, low stress, etc work.