Yet another "too young" thread

[GalaxyBoy]

I'm one week away from my blessed last day, and it's been common knowledge at w*rk for a couple of weeks that I'm pulling the plug. So far, the reactions have been universally congratulatory, usually followed by questions as to how they could do it one day, too.

But I finally got my first stern, judgmental look followed by "You're too YOUNG to retire!" Thanks to this forum, I knew to immediately reply, "EXACTLY!"

This fellow has been out of the office a lot. He's 64 and has had an amazing range of careers including tugboat captain, police officer, and now a commissioning tech for our engineering and construction company. Hey, working obviously works for him, but these folks need to realize life isn't one-size-fits-all.

 

[Whisper66]

Congrats! Hope you enjoy your well deserved retirement.

Am curious, 5 yrs ago you posted that firecalc already showed 100% success if you retired then. And DW was already retired. What are your feelings now about working those extra 5 yrs? Would be good feedback for all those with "one more year" concerns.

 

[haha]

Hey, working obviously works for him, but these folks need to realize life isn't one-size-fits-all.

Why do they need to realize this?

 

[GalaxyBoy]

Actually, I recently looked back at some of my saved retirement scenarios from 5 or so years ago. I realize now that my estimated spending was much too optimistic back then and there was little, if any, margin of safety. Now, having saved significantly more and with significant appreciation of my portfolio, I'm in much better shape. Various calculators (including FIREcalc, but that's not the only tool in the box) indicate a sustainable spending level greater than my current salary. I ran the numbers again assuming only 75% of social security being available, and I'm still confident I can cover anticipated spending. (But with healthcare, who knows?)

Another cushion for me is that I will most likely inherit a sum from DF equal to ~1/3 my current portfolio, an amount I've been excluding from my plan since one never knows if long-term care will eat up that money. Unfortunately, as of the last two weeks it's looking like the nursing home stay will be fairly brief, but that's another story I'm not ready to share.

So, I feel much more confident now. I needed that confidence to convince me to jump out of the airplane door.

 

[ER Eddie]

How old are you, GalaxyBoy?

 

[RetiredGypsy]

"You're too YOUNG to retire!"

My favorite response is "I'm too retired to work!"