Hello, and Merry Christmas to you all!. I have been lurking on this board for several months now and I feel well acquainted with many of the posters here. I find the posts quite informative and helpful as I contemplate the Big Move. As a group you are (with a few exceptions) experienced, wise, witty, amusing and a bit cranky on occasion. I have been sharing a few of the amusing bits with my wife lately and she has egged me on to communicate with you, so here I am.
Here is our basic situation. I am 56 and my wife is 59. Both of us will be eligible for a Federal retirement annuity in 2005. So, naturally, I am wondering if we are ready financially and/or otherwise to take on retirement. We are not exactly ER types more like regular R material. A little late for ER and a little early for R, if you know what I mean. My concerns at this stage are about 49 percent financial and 51 percent on the psychological and retirement lifestyle issues. As we draw nearer to the event I believe the financial issues will recede while the what in the heck are you going to do in retirement ? issues will come to the fore. Frankly, I dont think we are quite ready on either basis to take the plunge just yet. You can see why I find this Board a nice mix and a veritable font of practical information.
Some topics I hope we can discuss in the future:
1. Risk: I am the most risk averse investor that I know. Fact is, at this point, I am a saver, not an investor in equities. My asset allocation will appall just about every one of you. (I know inflation kills retirements - I know, I know.)
2. Volatility: You havent really explored this issue in much detail. Roller coasters make me sick. Personally, I have no stomach for it.
3. Retirement Budgets: I am amazed that so many of you can live with so little income in retirement. We exist on different planets.
4. Insurance/Health Care: My wife and I both have issues. A real potential retirement killer in our house. Younger posters here are in for a shock.
5. Economy: Whole country is living in la-la land state of denial. Day of reckoning is coming. How are ERs and Rs going to handle it?
6.FIRECalc/SWR: Kind of fun playing with it but past results are no guarantee of etc., etc. etc,
Enough for now. Hope to talk with you some more on some of the threads. Oh, a note on my web name: Donner. George Donner led 87 people into the Sierra Nevada mountains in October of 1846. He was unprepared and had little appreciation of the risks he was undertaking. 46 survivors came out of the mountains in April 1847. George was not one of them. While I only have 2 people to worry about, I do keep George in mind when contemplating retirement.
Here is our basic situation. I am 56 and my wife is 59. Both of us will be eligible for a Federal retirement annuity in 2005. So, naturally, I am wondering if we are ready financially and/or otherwise to take on retirement. We are not exactly ER types more like regular R material. A little late for ER and a little early for R, if you know what I mean. My concerns at this stage are about 49 percent financial and 51 percent on the psychological and retirement lifestyle issues. As we draw nearer to the event I believe the financial issues will recede while the what in the heck are you going to do in retirement ? issues will come to the fore. Frankly, I dont think we are quite ready on either basis to take the plunge just yet. You can see why I find this Board a nice mix and a veritable font of practical information.
Some topics I hope we can discuss in the future:
1. Risk: I am the most risk averse investor that I know. Fact is, at this point, I am a saver, not an investor in equities. My asset allocation will appall just about every one of you. (I know inflation kills retirements - I know, I know.)
2. Volatility: You havent really explored this issue in much detail. Roller coasters make me sick. Personally, I have no stomach for it.
3. Retirement Budgets: I am amazed that so many of you can live with so little income in retirement. We exist on different planets.
4. Insurance/Health Care: My wife and I both have issues. A real potential retirement killer in our house. Younger posters here are in for a shock.
5. Economy: Whole country is living in la-la land state of denial. Day of reckoning is coming. How are ERs and Rs going to handle it?
6.FIRECalc/SWR: Kind of fun playing with it but past results are no guarantee of etc., etc. etc,
Enough for now. Hope to talk with you some more on some of the threads. Oh, a note on my web name: Donner. George Donner led 87 people into the Sierra Nevada mountains in October of 1846. He was unprepared and had little appreciation of the risks he was undertaking. 46 survivors came out of the mountains in April 1847. George was not one of them. While I only have 2 people to worry about, I do keep George in mind when contemplating retirement.