Thanks for all your replies.
As far as my "F.I.R.E.", I already have the first two letters (lucky me <and my wife>). I'm just not too sure about the "retire early" date.
I'm lucky in that my wife/me have the same feelings about $$$ prep for retirement. We're debt free, and feel confident in our future, as regarding income, since we have been saving/investing for retirement for the last quarter century.
Since we both suffer somewhat from the "bag lady" (or man) syndrome, we're not about to just walk away from our respective jobs (no, they’re not perfect. If they were, I would not be on this forum!)
However, there are some reasons to "stay" at this point (especially for me). Our company (bought out for the 4th time, over the last 27 years) has converted their annuity retirement to cash balance. If they still had the old plan, I would have retired last month (age 58). However, with the conversion to cash balance, they have a 5 year "transition" plan, where they give an extra "bump" ($$$) to us "senior folk". That is to end by the end of next year ('07). Is it worth it to stay? At this point, counting my salary/income, along with the extra credit, I would have to say “yes”.
However, today I heard that "they" expect a downturn in our market in '07, and expect layoffs of around 10%. I'm not union, so the seniority card is not in play. However, if they decide to "sweeten the pot", I may consider it. At my service level, I get 6 mo. salary. If you add 6 mo. in unemployment (no, it's not a lot, but it's better than nothing!) I'm already covered for 1 year (somewhat). If they decide to encourage folks to leave (as they have in the past), I would pick up an additional 3 months (plus vacation pay of around 6 weeks).
All in all, if everything "fell into place", I could be leaving much earlier than my current 97 weeks.
As far as "activities" in retirement, my wife /I have already talked about volunteering in a local "meals on wheels" (food service for shut-ins). In addition, I feel I have some value to add (of course in a volunteer, not professional role) to help the "young folk" prepare for their "financial future".
One area I find interesting is that fact as a "boomer", I'm also an "in between", as related to financials in retirement. The folks before me (meaning our parents/grand-parents) had pension programs. They did not have to worry about "control" of their retirement assets. The "kids" (e.g. 21-39) seem to have a lot more on the ball (according to the posts I read on the Diehard.org area). It's we "slightly mature" folk that are facing (generally) an "unknown" in this area. I feel confident I can invest/manage my "pot" for retirement (and also set a plan for my wife to follow), but there is a lot of folk that may not (nor care to) prepare and execute a plan. They are certainly "food" for the "investment sharks" (you know what I'm talking about). This is another area that is of interest, and may lead to a teaching/support "non-paid job" in the future.
Thanks (4 now...)
- Ron...
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