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Retiring at 50
Old 12-31-2007, 04:48 AM   #1
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Retiring at 50

Hello - Just found this board.
Made a decision a few wks ago that I'll be retiring end of June at my 10 yr anniversary. Due to personality conflicts it was either that or wait till they fired me (ya its that bad, new boss started a few years ago).
Planning on living off the interest from my Fidelity account. I know I'll take a big tax penalty but we should be ok. Still need to get DS15 through 2yrs high school and then college. Have about 7yrs left on the mortgage. DH will continue working till DS is finished w/school. DH contributes about 1/2 towards the bills.
I may get a parttime job, may not. If I do it will be something I enjoy.
May volunteer to keep myself busy. It will be summer when I start retirement so not too concerned until Sept on how to fill my time. Do ppl start w/their new hobbies before actual retirement so its more of a routine?

Looking forward to learning lots - thank you
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Old 12-31-2007, 07:46 AM   #2
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I assume your Fidelity account is an IRA. You can withdraw from an IRA before 59 1/2 without penalty if you use the 72t method. Google for it you will find a lot of information. Many posts on this board about it as well. Good luck.
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Old 12-31-2007, 08:01 AM   #3
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Congratulations, and welcome to the forum! Retiring at 50 is quite an accomplishment.

Financial independence is a wonderful thing when things go south at work

Again, welcome.

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Old 12-31-2007, 09:58 AM   #4
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Congratulations and welcome

I second looking into 72(t) withdrawals. Lots of other things of interest around here.
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