Retiring at 55, wish I could do it now at 49

[Ed_The_Gypsy]

statsman,

Iam with MichaelB. I recommend staying put until your kid is through high school. It is a short enough goal. Then reconsider your options.

I have heard that it is easier for retired folks to get financial aid for their kids. Can anyone comment on that? It worked for a friend up here in Canada, but I dunno about the US. If that can work, understand that you would have to retire the year before she goes off to college (literally, not later than Dec 31), because FAFSA looks at your last years' tax returns.

If you are determined to stay in the Bay Area, I suspect that you will have to work until the end. Can you be happy somewhere else? Somewhere really different?

Picture yourself in a new situation. The idea can take getting used to.]

Cheers

[jclarksnakes]

Michael,
...This really does depend upon YOUR personality. As you see many of us here think you are ready and many others think it is good to wait. It mostly is a matter of how much risk (taxes, inflation, health care, college expenses, global warming etc.) we can take without it keeping us up late at night worrying. It seems that you have made the right decision for YOU, at least at this time. I think the fact that you considered it shows that you are really closer to ER than you think. You have the right idea to keep ER in mind and re-evaluate your options as time goes by. One subject that was not broached was semi-retirement. I am 55 and work one night a week. I arrive at work smiling and spend the entire shift smiling and notice that the full timers do not smile nearly as much. I have no benifits in my present job but I do not need them and could have them if I wanted but with less pay. Just an idea for you to consider.
Jeff

[Alan]

Quote:

Originally Posted by chinaco Welcome. I think many of us working stiffs feel the same way. I ponder the question often. I am waiting till 55 because I can take a pension at 55 plus retirement medical. That keeps me hanging on. But I am slowing down. I no longer work long hours... I am working about 40.

This is my situation exactly. 22 months to ER at 55.

Statsman,

I see that you have decided to hang on - good luck to you. You find a change of heart at 53 when that reduced pension dangles before you