Great Find Here
Great info on this forum.
Took the plunge in Feb of 07. Have a pension of about 35,000 a year before taxes. No mortgage, no debt. kids are grown and married professionals with advanced degrees. I keep pinching myself being only 51 and out of the rat race. I am still doing some low stress part time things, 2 days a week for a few hours a day that puts an additional 3,000 dollars a month again before taxes. We have medical coverage with my pension. Even a low cost generic prescription and dental plan. The pension is Cola'd after the second year and then every year. Wife will start a small pension in 13 months add anothe 3,000 a year.
We figure we can live easily on 45 a year. Funny I have more money now with my pension and part time work with no mortgage and lower taxes then when I was working and living in that other high tax state. Sold our house for a silly amount of money about two years ago before the bottom fell out of the market. No mortgage is a real deal maker! In addition to health insurance provided by my pension.
We have another 50+ or - in CDs so no biggie in cash. Spent most on kids college and professional schools. Plus I knew I had a pension. In 8 years the wife will start taking SS and I will in 10 years that will give us another 22,000 a year we figure.
So, lets see, now we have about 65 before tax between pension and 2 days a week part time work and little outgo when it comes to money. I am happy.