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Hello from Las Vegas soon-to-be retiree
Old 10-11-2014, 12:59 PM   #1
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Hello from Las Vegas soon-to-be retiree

We are originally from Wisconsin, married 41 years, I am an only child (age 61) and husband is age 66, his entire family passed away from diabetes years ago. He retired at age 56, working as a Teamster trucker for 35 years. We would vacation in Las Vegas and had dreamed of moving there (here now) for many years after he retired. The time had come, he retired and onward with our plans...sold our paid-for home in Wisconsin and purchased an over-priced small home in Vegas in 2005...not really a good plan, had no debt but husband was afraid he would be joining his early-deceased family soon so we did it. We no sooner purchased our Vegas home, returned to Wisconsin to pack it all up and found out I had cancer. We agreed this was a "sign" that we were doing the right is too short. Got ourselves settled in Vegas, cancer overcome and I wanted to be part of the Vegas tourist life, landed myself a job at a Strip hotel front desk agent (after 20 years of being a paralegal in Wisconsin) and was so happy. Yes missed our 2 grown sons and elderly parents but we were living our dream. Son #2 single, came for a visit, landed a good job and stayed (is now in high-mgmt. position on the Strip). Had to make a decision of retirement home for elderly parents in Wisconsin and the housing market was crashing and our neighbors had to sell their house so we bought it (cash) for my parents and they now live next door and are thriving so much better not having to worry about things because we are next door. Son #1 and his family also made the move (solid employment transfer, also a trucker) and here we are, the whole family within a few blocks of eachother. Life is great huh? Well, I am kind of in the middle, working the midnight to 8am shift so I can be there for my parents needs in the morning hours. I just can't do it anymore, exhausted and a few medical issues have popped up from the stress. So.....I have decided to put in for early retirement in Feb at age 62. Yes I know there will be some challenges but we have had many in our 41 years of marriage and can get thru this. So am looking forward to what lies ahead, want to get back in shape physically and emotionally and be there for my family...and maybe do some traveling when my parents pass on (they are 91). My childhood best friend lives in Vegas as well, she s widowed, and we cherish the time we get to spend together. So that is me...Ginger! Just one kind of big glitch....we were very conservative financially in Wisconsin, but overpaid significantly for our home in Vegas and still have a 20 year mortgage and owe more than it is worth. If we can keep Mom & Dad out of nursing care/home, I will inherit theirs and we will sell both and get a small condo. (We just weren't thinking with our heads 100% when we bought this house, but it's done, can't refinance, conventional loan) so we'll deal with it.

Look forward to any advice for my new life from this group!
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Old 10-11-2014, 01:05 PM   #2
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Welcome aboard, Ginger!

That's quite a story. Glad to hear you pulled thru the cancer and are fortunate to have relocated your family and have friends nearby.

Lots of good info here and very helpful, well-informed posters if you have any questions (on most any subject).

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Old 10-11-2014, 01:47 PM   #3
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Will you have enough cash flow when you retire to carry the mortgage? I assume your husband has a union pension, plus SS. You'll have SS. If the income streams will cover your expenses, you should be ok... If not... well... do you have savings? What kind of withdrawal rate are you looking at. Is it something you can manage until after your parents pass and you can downsize?

Since you bought the house for your parents - don't you own it? No inheriting there... Who go the proceeds from your parents previous home?

Don't get me wrong - I'm a big believer in kids helping their parents - we built a detached 1 bedroom granny flat for my inlaws - so we could care for them. The decision was great for them, financially (rent free living), not so great for us (expense of building, increased property taxes)... but it was always titled in our name. Now that MIL isn't living there (FIL passed) we rent it for income. That offsets our expenses. It was never in their name - so it's not for them to will to their heirs. I guess I'm a little confused why you paid for a house, but aren't on the title and will need to inherit it.

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Old 10-11-2014, 07:38 PM   #4
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Welcome, Ginger. Working overnights is a very hard drain physically and mentally. And then you have the stress of taking care of your parents. It's no wonder you're ready for retirement.

Is there any possibility that you could work part time during the day hours for a little extra cash, and not do the full time overnight job? Of course, if you have enough savings and income to not worry about working part time, enjoy your retirement!

It's wonderful that you were able to move to your dream location and the rest of your family found there way there too.
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Old 10-11-2014, 08:21 PM   #5
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Welcome to the forum. Cancer history and stress is a really bad combination, retire as soon as possible!
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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Old 10-12-2014, 12:25 AM   #6
Dryer sheet wannabe
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Thank you for the welcome! I should have said "we did the buying/selling negotiations on my parents home ". They paid the cash for the LV home from the sale of the WI home. In 2010 the cost of the LV home was 1/3 of what our neighbors originally paid for it. Their home is larger than ours and they paid $140K less then we did for ours.

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Old 10-12-2014, 12:51 AM   #7
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Husband is wonderful. Does inside/outside maintenance on both homes as hobby. I do the running around and personal care for them. We should be ok may have to cut back a bit but saving 200 miles/week on gas to work and other little things will help. Need to spend time with grandbabies before its too late.

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Old 10-16-2014, 09:17 AM   #8
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Welcome to the forum, sounds like you have good reasons to retire. As long as you can meet your expenses for now, it seems you will be good shape once your parents are gone and you can sell the houses to get out from the mortgage.

you did not mention if you work because you need the money, or work so you can minimize/eliminate withdrawals from your savings.

Cancer is scary and combined with your husband's family health issues, you both should enjoy your time now - assuming you can make it financially.
I used to have a handle on life, but it broke.
Life is a sh!t sandwich, the more bread you have the less sh!t you have to eat.

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
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