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08-24-2008, 03:56 PM
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#1
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Recycles dryer sheets
Join Date: Aug 2008
Posts: 155
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Partially FIREd in DC
Hi. I've been lurking for quite a while and I very much enjoy both the content and friendly, supportive tone of this board.
DH: 68. Involuntarily retired 10 years ago. At first it was going to be temporary, but we soon discovered that we could live on one income and that having someone at home dramatically improved the quality of life for both of us. So he never sought other employment.
Me: 57. Voluntarily retired 2 years ago. Started consulting 3 days/week shortly thereafter. Consulting gig pays well and for each month I work I cover that month's expenses and save a month's worth of expenses.
Financial Facts:
House paid off -- we'd like to retire in place.
Savings: $2.8 million. Current allocation ~50% stock, 25% bonds, 25% cash
Pension: None. DH collects SS.
Health Insurance: DH covered by Medicare and Medigap. I have individual coverage from CareFirst ($204 premium, $2700 deductible, HSA)
Need: $60K after taxes. FIRECalc and others all say we have enough.
Worries: Health insurance rates. Inflation.
Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.
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08-25-2008, 05:42 AM
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#2
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Recycles dryer sheets
Join Date: Jun 2007
Location: Oklahoma City
Posts: 338
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 Quote:
Originally Posted by FurBall
Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.
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Hmmm It is a Philosophical question because on paper you have plenty to meet your estimated needs. Even at 3% withdrawl rate ($84k per year plus his SS which is probably enough to cover the taxes eh?)
Are you able to toake a "leave of abscense" from the consulting, for say 6 months, to "try out" fulltime retirement?
__________________
USAF Veteran -- Retired Air National Guard -- OSW -- ONW -- OIF
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We're doing the Partial FIRE'd, too.
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08-25-2008, 07:30 AM
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#3
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Recycles dryer sheets
Join Date: May 2007
Location: Belmont
Posts: 160
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We're doing the Partial FIRE'd, too.
I (DH-55) am down to 24 hours/week. My DW(56) is starting to work a day at home, and should slide down to 24 hrs/week in 2009. It's an adjustment, and we are planning to "test" retirement with a year off in 2009/2010.
We also have $2.5MM plus in assets, but worry about inflation and health care costs.
__________________
Work is the curse of the partying class!
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08-25-2008, 02:36 PM
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#4
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Quote:
Originally Posted by FurBall
Philosophical question: Trying to figure out if I should retire entirely. I like the work and it's low stress. But even working three days a week I don't have nearly enough time to do all the things we want to do. Also, DH is very healthy and active, but I wonder if we shouldn't play together now while we are both able.
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Welcome , I hate to be the bearer of bad news but even working zilch I do not have enough time to do all the things I want to do .
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08-25-2008, 05:26 PM
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#5
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Recycles dryer sheets
Join Date: Aug 2008
Posts: 155
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Quote:
Originally Posted by militaryman
Hmmm It is a Philosophical question because on paper you have plenty to meet your estimated needs. Even at 3% withdrawl rate ($84k per year plus his SS which is probably enough to cover the taxes eh?)
Are you able to toake a "leave of abscense" from the consulting, for say 6 months, to "try out" fulltime retirement?
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I don't think I could take a leave of absence and go back. But I did try out full retirement for 4 months before being lured back. It was wonderful. I just have trouble turning down great pay, low stress, interesting work.
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08-25-2008, 05:42 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by FurBall
I just have trouble turning down great pay, low stress, interesting work.
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Gee, how weird.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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08-25-2008, 07:45 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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Quote:
Originally Posted by FurBall
I just have trouble turning down great pay, low stress, interesting work.
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But you can only be a porn star for so long...
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08-25-2008, 08:15 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Posts: 5,350
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Quote:
Originally Posted by FurBall
I just have trouble turning down great pay, low stress, interesting work.
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Certainly beats my low pay, high stress, uninteresting work.
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08-25-2008, 08:25 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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Play now, while you are both able.
There may be a time in the future when your DH may not be so active, and you can return to this interesting, low stress, etc work.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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