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May-December marriage and ER
Old 05-31-2007, 12:45 PM   #1
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May-December marriage and ER

Hi everyone - I have been reading your posts and learning a lot! It's nice to hear about ER from so many different perspectives. However, I haven't found much info, here or elsewhere, on retirement issues when spouses have a large age difference and the younger will still be working.

I am 33, DH a young 53, DS 14, DD 2.
Our goal is for DH to semi-retire in 4 years. He would like a lower stress PT job, not too hard to find in his field. In 4 years DS will graduate HS and DD will be in school (no more childcare expense). We have separate college savings so that is covered. I work PT with benefits, and hope to be at the same job; otherwise I would probably need FT work to get same pay/benefits.

I am still in the process of running various scenarios on FIREcalc.
Assuming DH works 5 years of ER at 1/3 salary, that I will have health insurance for us all through my job, and that I will work until 55 at my current savings rate, it looks like we will be ready for the change in 4 years.
If my earnings increase above inflation then I will save more and ER before 55 myself! Living to 85/90 is the norm in both our families.

Before I came along, DH planned to semi-retire after DS finished HS. When we had DD, DH assumed he would be working FT much longer. I really want him to be able to cut back - he will be 57 - he deserves it! Seems we make less than many here (combined income 90k/yr), but we LBYM and have similar save/spend philosophies. We are fairly frugal, but do spend on things we want, like date nights and vacations.

We still have to work out our financial strategy once in ER - I will have to read up on Lucia's buckets - and decide if we want to pay off the mortgage.

Regarding daily life with one spouse retired, I don't think that will be too much of a problem. Hopefully I will be working PT and have plenty of time to spend with DH. Also DH wants to increase his volunteer/political activities. And he will have more time to camp with the kids!

I don't have a specific question, just wondering if anyone else has been in a similar situation or has any advise to share. Thanks!
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Old 05-31-2007, 01:56 PM   #2
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IMO you are like most people except for the age difference... you have to have the means to retire... now, if you work to 55 then you don't have to fund the extra years until you get there, so that saves a bundle...

Now, you fall into the man take SS at 70 big time!!! You can outlive him by maybe 30 or so years... so the more SS the better...
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Old 06-01-2007, 09:19 PM   #3
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Wow PBAT.... not getting a lot of hits on this...

But, it seemed to disappear on this new forum... maybe giving it a bump will help..
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Old 06-01-2007, 10:56 PM   #4
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All I can say is run the numbers. If they say do it, then do it.

Not really similar, but DW 'retired' about 30 years ago (AND ME TODAY!!!) when DW was born. Said she planned to return to the 4-letter word that describes gainfull toil but never got around to it.

While May-December may have challenges, don't know why FIRE should be one of them.
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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Old 06-05-2007, 02:39 PM   #5
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Originally Posted by kumquat View Post
While May-December may have challenges, don't know why FIRE should be one of them.
Agreed! DW is a generation behind me but LOVES her JO*.....which ONLY made my decision to RE much easier!

With her wanting to stay in the wor* force, insurance isn't the concern that it will be when she decides to stay home too ....and I'm sure she will when she sees just how much fun I'm havin' doin' absolutely nuttin'....well almost nuttin'.....

Let me just where did I put that list she gave me??
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