Should I stay or should I go now? This indecision's buggin' me.

[PERSonalTime]

If you do, there's your answer...

+1

 

[Koolau]

Go. Go now!

 

[punkinhead]

Sad as that is, those are still exceptions, so not a sound basis for a retirement planning.

Dropping dead at a young age isn't statistically significant enough to include it in retirement planning, but increasingly nagging health problems that slow you down so you can't enjoy retirement certainly are.

 

[PERSonalTime]

Calpers is great, your numbers are great, so you will be fine no matter which option you choose. If you’re concerned about the college financial aid part of your inquiry, choose the May 1 date to retire. Burn some of your PTO time during the month of April, so you won’t have to go into the office in April. Effectively, you stop working at the end of the first quarter of 2024. Then your kids can apply for financial aid using your 2023 income numbers. Since your numbers are fine, don’t worry about the delay in receiving your initial 2% COLA increase. Congratulations!

 

[DrRoy]

Will it change your standard of living to a degree that is important to wait?

 

[Slim11]

500 $ a month extra will go a long way in retirement. If it was a smaller amount I would say go now. But 6k a year is worth staying for. A year and a half will fly by after your mind is set. Plus, you will get some stress relief knowing your going. 500 a month is a car payment for life.

 

[Koolau]

500 $ a month extra will go a long way in retirement. If it was a smaller amount I would say go now. But 6k a year is worth staying for. A year and a half will fly by after your mind is set. Plus, you will get some stress relief knowing your going. 500 a month is a car payment for life.

I look at it the other way. How much would you pay for another year and a half of freedom? Would you pay $500/month for the rest of your life for that extra time?



And, of course, the big question: Do you need extra income in retirement?

 

[ncbill]

I'd take the 3 months off next summer then coast afterwards until retirement at end of year.

 

[Slim11]

Well thats a decision they have to make! For me, if some one offered me 150k over what I was curently making to work an extra year and 4 months longer, I would strongly consider it. He'll still be retired around 60.

 

[Koolau]

Well thats a decision they have to make! For me, if some one offered me 150k over what I was curently making to work an extra year and 4 months longer, I would strongly consider it. He'll still be retired around 60.

I understand your point of view, but the other point of view is the finite time we all have left. If you NEED the money, that's a good deal. If you really don't NEED the money, it's a questionable deal IMHO but YMMV.