Retiring early at 62, is that an oxymoron?
Having worked 34 years, I plan to retire in 2 months, along with my wife. My wife will collect $1100 (SS), plus about $500 monthly (work pension), and I will take in about $1000 (SS) and $5800 (govt pension) per month. Our house is worth about 325k with a home equity loan of 100k on it, and a condo worth $600k with a mortgage loan of 300k still left. We also have another investment condo worth 300k, which is fully rented, and paying it's own way. All our kids are adults, have their own jobs, but all unmarried, from 31 to 28.We have collectively, about 800K saved up in IRAs, SEP, 401(ks), 403(bs), and 407(bs). We have about 25K in our savings accounts.
We will sell the house, and move down (planned) to Florida (question: is that a good retirement state, monetary wise?) and use my Mom's house as a base to look for a place to buy there. My Mom is 85 and lives alone in a moderately large 10 year old house, within a planned retirement community.
After things settle down, I am planning to join the UN Volunteer group, or the Peace Corps, which has always been a dream of mine, being a child of the 60's. Anybody with experience in those groups?
What do you think?