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Advice: 9 Year Age Difference and Retirement
11-05-2019, 08:10 PM
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#1
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Dryer sheet aficionado
Join Date: Jul 2017
Posts: 27
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Advice: 9 Year Age Difference and Retirement
Hi,
My husband is 65, was let go from his job at age 62 - and is now officially retired.
I am still working, age 56.
I am eligible for retirement from my school job next June. We will have pension, SS, 401K and 403B. We have cranked the numbers and it looks like we will be fine.
Given our age difference, would you recommend I go in June ( I will just turn 57)?
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11-05-2019, 08:53 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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I think you better get his opinion first. Or have you?
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11-05-2019, 08:56 PM
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#3
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Dryer sheet aficionado
Join Date: Jul 2017
Posts: 27
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yes- he would like me to retire. I plan to work part time - but I'm ready to be done with full time teaching.
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11-05-2019, 10:15 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2018
Location: DuPage County IL
Posts: 2,730
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then go.
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Dispatcher, then shift supv, then administrator for a regional 9-1-1 call center
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11-05-2019, 10:39 PM
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#5
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Recycles dryer sheets
Join Date: Jun 2016
Location: Kaneohe
Posts: 376
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I'm 7 years older than my wife, & although she planned to work until age 70, I had her run the numbers (we're both engineers), & she was shocked to see how little different our long-term incomes would be for those extra 4 years of her life! So, she retired this June, & we're having a wonderful time! I agree - just go!
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11-05-2019, 10:53 PM
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#6
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Full time employment: Posting here.
Join Date: Oct 2009
Posts: 640
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It's your choice, of course. Are you ready? Not just financially, but mentally.
Based on personal experience (we're seven years apart and my spouse hasn't retired), I think it's best when both retire around the same time. Makes it much easier to be on the same page.
__________________
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"Wealth consists not in having great possessions, but in having few wants."
--Epictetus
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11-05-2019, 11:36 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Apr 2005
Location: Duesseldorf, Germany
Posts: 1,202
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DH is 6 years older and we have always agreed to leave our jobs at the same time.
As DH has some health challenges we wanted to make sure not to sacrifice our "best" years for more money.
At 61 he took his pension.
We have no regrets and love every single day of our time together.
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11-06-2019, 04:12 AM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,299
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I would retire. Eventually, there could be some resentment on DH's part on not being able to enjoy more time together.
Time is more important.
__________________
TGIM
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11-06-2019, 04:34 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Hog Mountian
Posts: 2,077
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If you are ready, go. Life after work is so much better.
__________________
Never let yesterday use up too much of today.
W. Rogers
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11-06-2019, 05:19 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Oct 2014
Posts: 1,677
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If the numbers work and you are tired of full-time teaching, why would you stay?
DH is 11 years older than me, and had mandatory retirement at 57. From the time we got married, our plan was that I would retire at 50. The plan worked and that’s what I did.
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11-06-2019, 05:36 AM
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#11
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Moderator
Join Date: Nov 2015
Posts: 13,927
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Your age difference has no impact on your question. Even less so now than when you were married, given the ratio of the gap has shortened. Like in your other threads, if you are ready financially, and your husband is in alignment, of course, pick whatever date feels best.
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11-06-2019, 06:18 AM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,331
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I don't understand what difference the age difference makes. You will have a pension and the numbers add up. You are in position to make the decision based on what is most appealing to you - working full or part time or pulling the plug completely. Am I missing something?
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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11-06-2019, 06:31 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
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Age does make a difference if healthcare is an issue. In our case DW is 5 years younger, we manage our MAGI accordingly. Some may not be able to do this, so retiring could cost an extra $1k - $1.5k a month. Some may have to budget extra for that.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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11-06-2019, 06:43 AM
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#14
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Administrator
Join Date: Apr 2006
Posts: 23,041
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Your husband is a fortunate man. I retired two weeks before the young wife. The only way I was able to avert her crankiness during those two weeks was to work like a beaver on speed during the day and make sure that the house was as neat as a pin and dinner was on the table when she got home. If things had gone on any longer with me at home and her at work, I don't know that I would have survived it.
__________________
Living an analog life in the Digital Age.
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11-06-2019, 10:03 AM
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#15
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2010
Posts: 5,915
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Do not understand your question. Your husband would like you to retire. You do not like your full time job. You can afford to retire. You will have the opportunity to do some part time teaching which is something you want to do.
What makes you ask if you should retire  ? Seems fairly obvious to me. Follow your gut. What are you waiting for
As the slogan goes...just do it.
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11-06-2019, 10:05 AM
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#16
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Dryer sheet aficionado
Join Date: Jul 2017
Posts: 27
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just wondering what others with similar gaps in age did - and if I'm missing anything important.
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11-06-2019, 10:14 AM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
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 Quote:
Originally Posted by rathgar
just wondering what others with similar gaps in age did - and if I'm missing anything important.
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We have a 5 year difference, we manage MAGI to get the Max Subsidies for DW's healthcare. EVERYTHING else is insignificant and I simply do not worry about it.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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11-06-2019, 10:43 AM
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#18
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Recycles dryer sheets
Join Date: Nov 2018
Location: Sacramento
Posts: 62
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10 year difference here. I RE about a year ago. DW is in prime of career and loves her work. No issues since we both have independent activities/interests. The only issue I could think of for us was if I ever get the desire for long-term travel, but fortunately I haven't so far. As others have said, in your situation I would be out the door.
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11-06-2019, 11:08 AM
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#19
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,099
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OP - your husband will have Medicare. What will you do for heath insurance ?
That is the only age issue I can see, since you worked and will get SS on your own numbers, no survivor issue regarding SS.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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11-06-2019, 11:45 AM
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#20
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Dryer sheet aficionado
Join Date: Jul 2017
Posts: 27
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I will have health insurance through state retired teachers plan - affordable
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