Brian from Alaska
Confused about dryer sheets
- Joined
- Jun 23, 2005
- Messages
- 3
Good Afternoon All:
I have been an interested reader of the forum for about 6 months now. My wife and I have been wrestling with the mid-life-crisis since we were both in mid-life, about a decade ago. For the past 6+ years, we’ve been living in Alaska where we moved when I took a job that I hoped would last me until retirement at age 65. The move was financially successful and we have enjoyed many great Sourdough adventures that we never would have dreamed about prior to the move. However, winter here in the Interior starts in early October and lasts until late April and boy is it cold and dark from November through February – typically 20 below at night and only about zero during the day in December and January, with occasional excursions to forty or fifty below accompanied by ¼ mile visibilities in ice fog. My wife has been basically unhappy with our location since we moved here. I’m emotionally worn out and feel like I’m just going through the motions most days at work, and even feeling a little guilty about not really earning my generous paycheck.
The problem is that I’m about to turn 58 and my wife is 54 and I can’t decide if it’s too early to pull the plug and head Outside for retirement. We’ve been able to put away about $700,000 in 401-k’s and IRA’s and have another $300,000 in real estate and other assets. But assuming we spend $150,000 on a used diesel pusher Class A and invest the remainder at 5%, we will go from living on $250,000 per year to $45,000. If I stayed at work until 65 1/2 , I’d be able to put away another $700,000 and qualify for about $29,000 in Social Security. That would be a nicer retirement package, but there’s no way we’ll last another 8 years up here. If I bail at age 62, I will have another $400,000 socked away, but that additional asset will only throw off another $20,000 annually when invested at 5%. I am not sure it’s worth another 4 years with nose to the grindstone for an extra $1,300 a month in income after taxes.
As I read this posting, I feel a little embarrassed – I have a damm good deal and I should stop my whining! However, I know that once I get off the work treadmill, I’ll never be able to get back on at much above minimum wage, so I’d better get this right the first time. My health is excellent and so is my wife’s today, but she’s had breast cancer 8 years ago (hopefully cured) and 2 malignant melanoma’s in the past decade (also caught early and cured). We both exercise vigorously and aside from sore old-fart knees, we seem to be doing OK right now. We love to hike, bike, garden, kayak, fish etc and have no doubt that we’ll stay active and engaged once we pull the pin.
We’re struggling with this daily and if I had to guess today, I’d guess that we’ll stay another 2 years, to fatten up the savings and then buy the RV and hit the road in late 2007. Any advise from those who’ve been down this road before us? We’d appreciate hearing from anyone with an opinion to share – thanks!
Brian
I have been an interested reader of the forum for about 6 months now. My wife and I have been wrestling with the mid-life-crisis since we were both in mid-life, about a decade ago. For the past 6+ years, we’ve been living in Alaska where we moved when I took a job that I hoped would last me until retirement at age 65. The move was financially successful and we have enjoyed many great Sourdough adventures that we never would have dreamed about prior to the move. However, winter here in the Interior starts in early October and lasts until late April and boy is it cold and dark from November through February – typically 20 below at night and only about zero during the day in December and January, with occasional excursions to forty or fifty below accompanied by ¼ mile visibilities in ice fog. My wife has been basically unhappy with our location since we moved here. I’m emotionally worn out and feel like I’m just going through the motions most days at work, and even feeling a little guilty about not really earning my generous paycheck.
The problem is that I’m about to turn 58 and my wife is 54 and I can’t decide if it’s too early to pull the plug and head Outside for retirement. We’ve been able to put away about $700,000 in 401-k’s and IRA’s and have another $300,000 in real estate and other assets. But assuming we spend $150,000 on a used diesel pusher Class A and invest the remainder at 5%, we will go from living on $250,000 per year to $45,000. If I stayed at work until 65 1/2 , I’d be able to put away another $700,000 and qualify for about $29,000 in Social Security. That would be a nicer retirement package, but there’s no way we’ll last another 8 years up here. If I bail at age 62, I will have another $400,000 socked away, but that additional asset will only throw off another $20,000 annually when invested at 5%. I am not sure it’s worth another 4 years with nose to the grindstone for an extra $1,300 a month in income after taxes.
As I read this posting, I feel a little embarrassed – I have a damm good deal and I should stop my whining! However, I know that once I get off the work treadmill, I’ll never be able to get back on at much above minimum wage, so I’d better get this right the first time. My health is excellent and so is my wife’s today, but she’s had breast cancer 8 years ago (hopefully cured) and 2 malignant melanoma’s in the past decade (also caught early and cured). We both exercise vigorously and aside from sore old-fart knees, we seem to be doing OK right now. We love to hike, bike, garden, kayak, fish etc and have no doubt that we’ll stay active and engaged once we pull the pin.
We’re struggling with this daily and if I had to guess today, I’d guess that we’ll stay another 2 years, to fatten up the savings and then buy the RV and hit the road in late 2007. Any advise from those who’ve been down this road before us? We’d appreciate hearing from anyone with an opinion to share – thanks!
Brian
