Why am I so terrified to stop working?

[Blooming Late]

Could it be that you are terrified of the change itself-- not necessarily retiring?

You have enough money, ACA or not, that most folks could live on quite comfortably. Imagine yourself not getting up and going to work next Monday, but instead going on a walk in the morning, nice lunch at a favorite eatery, and then planning your next trip... how does that sound?

 

[Poopycat]

Both. I usually avoid talking "net worth" and talk about my "stash" instead, which is my investments/savings/retirement.

I included my condo in the $4.5M. I bought it for $525K in 2021; paid cash so no mortgage (just not a big fan of debt). I assume a net value of $500K in my calculations because I’d have to pay closing costs and condos don’t typically appreciate in value like houses do. So $4M in things like 401k’s, mutual funds, a CD, etc. and about $0.5M in real estate.

 

[Poopycat]

Could it be that you are terrified of the change itself-- not necessarily retiring?

You have enough money, ACA or not, that most folks could live on quite comfortably. Imagine yourself not getting up and going to work next Monday, but instead going on a walk in the morning, nice lunch at a favorite eatery, and then planning your next trip... how does that sound?

I have to admit that when I woke up late on July 4, I thought about how I could get up late every day if I wanted to, and I had a smile on my face. You could be right, there might be an element of fear in just the change. It’s a lot of fears all bundled up, but the responses in this post have really helped.

 

[street]

Retirement isn't the end but the start of something new. If work is that important stay working if not there find a new job.

Finically you could have gone sooner and money would be the last thing you need to be concerned with.

Good Luck

 

[Koolau]

Retirement isn't the end but the start of something new. If work is that important stay working if not there find a new job.

Finically you could have gone sooner and money would be the last thing you need to be concerned with.

Good Luck

Words to live by.



Be sure to retire TO something, not so much FROM something.

(And I agree with street, your money looks to be in good shape!)

 

[Surewhitey]

Could it be that you are terrified of the change itself-- not necessarily retiring?

You have enough money, ACA or not, that most folks could live on quite comfortably. Imagine yourself not getting up and going to work next Monday, but instead going on a walk in the morning, nice lunch at a favorite eatery, and then planning your next trip... how does that sound?

Exactly what I did 5 years ago. I now have coffee to 8, take the dog out for a mile, cool down & wander to the "office" (detached garage) and build stuff for wifey or clients. Break for lunch (much healthier) and w*rk till I get done, around 4-ish. Way better than leaving the house at 6am-6pm, my old routine... Eating crap to get out of the office and a brutal commute.

 

[RetiredHappy]

Heck, net worth of $4.5M, I would retire and find a hobby to spend the money.

 

[flyingaway]

Yes, I’m learning Spanish so I have lots of places to explore. One of the things I have been thinking of doing is to live in one country for up to a year, or live in several countries during a one-year period, mastering the language and doing the occasional Spanish immersion program. I’m older than the hills, but the university I go to has exchange programs and there’s no age limit so I’m even toying with doing a term at a sister school in Spain. I want to be fluent but I don’t think I’ll get there unless I immerse myself.

I have been learning Spanish using online Duolingo for free for a few years. I just came back this week from central America. My Spanish was OK to deal with daily activities.

 

[GenXguy]

I included my condo in the $4.5M. I bought it for $525K in 2021; paid cash so no mortgage (just not a big fan of debt). I assume a net value of $500K in my calculations because I’d have to pay closing costs and condos don’t typically appreciate in value like houses do. So $4M in things like 401k’s, mutual funds, a CD, etc. and about $0.5M in real estate.

OK, well $4M sounds very good for a single person. It's quite a bit higher than my stash, although at least I live in a relatively low cost of living area.

 

[Koolau]

I have been learning Spanish using online Duolingo for free for a few years. I just came back this week from central America. My Spanish was OK to deal with daily activities.

Back 60 years when I went to Germany, I would try to speak German and most locals began speaking English back to me! Dooooohhhh!

 

[emmaswan]

No words of advice, but just wanted to thank OP for starting this thread. The post and the subsequent answers provide food for thought.

 

[MRG]

Oh, I can relate. I spent months obsessively running Fidelity RIP and not seeing potential issues. To be clear, DW and I have fewer resources than OP. However, the tools said I could go. I'd set a "deadline" for retirement at 30 years with Megacorp. Nothing special happened at 30 it just sounded good.

Well, at 29 years and a couple of months, something happened. My new VP showed his inability to lead, and I was caught in his wrath. I became done during a 14-hour conference call and resigned 2 weeks later, giving 2 weeks' notice.

I had the pleasure of giving my notice to the VP who went berserk on me instead of my immediate manager. I was shaking on the inside, but it was glorious. He actually asked if his behavior weeks before was any part of my decision, I smiled and told him a lie. His idiocy was the last straw, and 10 years later, I know I made the right decision! A coworker who knew me well says I should send the former VP a thank you note as without him, I might still be there.

OP, come on in the water is perfect and you'll be fine.

 

[COcheesehead]

I had friends who didn’t leave on their terms. They were offered packages or worse. Call you own shot. Have a plan and stick to it.

 

[Koolau]

Oh, I can relate. I spent months obsessively running Fidelity RIP and not seeing potential issues. To be clear, DW and I have fewer resources than OP. However, the tools said I could go. I'd set a "deadline" for retirement at 30 years with Megacorp. Nothing special happened at 30 it just sounded good.

Well, at 29 years and a couple of months, something happened. My new VP showed his inability to lead, and I was caught in his wrath. I became done during a 14-hour conference call and resigned 2 weeks later, giving 2 weeks' notice.

I had the pleasure of giving my notice to the VP who went berserk on me instead of my immediate manager. I was shaking on the inside, but it was glorious. He actually asked if his behavior weeks before was any part of my decision, I smiled and told him a lie. His idiocy was the last straw, and 10 years later, I know I made the right decision! A coworker who knew me well says I should send the former VP a thank you note as without him, I might still be there.

OP, come on in the water is perfect and you'll be fine.

I love this story. It's even better than mine (told often in these pages.)