48 and would love to retire

[Kathryn48]

Hi all,

I'm Kathryn and stumbled across this forum when I was looking for info on comparing Fidelity to Vanguard. I read the thread on "how little can one retire on," so decided to sign up.

I sort of dropped out of the corporate rat race five years ago and moved to the Phoenix metro area. Since then I've been temping once in a while and also worked at a women's domestic violence shelter. I also volunteer one day a week. I've been thinking of a career change and getting into social services, which will never get me rich, I know.

Looking over some of the threads here and how much you all have, early retirement for me is probably not an option, but I'd sure like to find a way to live on what I have. The biggest sticking point is, of course, health insurance. I'm single with no children, but one has to have that health insurance. If it weren't for this, early retirement would certainly look much more feasible.

At any rate, I guess I'll just poke around and learn from you all here

Kathryn

 

[Coach]

Kathryn, welcome to the forum! I'm sure you'll find lots of useful information here. There's a great FAQ on health insurance that will get you started on that issue.

I'm glad you've joined us!

Coach

 

[DayDreaming]

Hi Kathryn,

I'm 47 and would love to retire. I only recently started taking my finances seriously, but here's what I learned about Fidelity vs Vanguard - and remember I'm new at this: Both are good companies with some good funds. But Vanguard has a better selection of funds - a wider variety of low expense index funds so you can tailor your portfolio easier at Vanguard that at Fidelity. I had a 401k at Fidelity from a former employer but decided to roll it over to Vanguard.

You're probably looking for more in depth information than that, but the fact that Vanguard had a wider variety of low expense index funds was the thing that made me switch.

Good luck with your research - there's a lot to learn on this forum!

 

[Kathryn48]

Thanks Coach and JoeDreaming! This is a really interesting forum and I had no idea there were so many facets to ER. I especially found the thread on what to say when someone asks what you do so fascinating. In my mind it's just always been a person has enough to retire and that, beyond the pure financial considerations, there's not much more too it. But reading what I have on this forum I am seeing that it's a mindset, of sorts, and there's this whole value question that comes into mind (read some of your very old threads). At any rate, wish I was one of you (maybe I am in my mind ) as I think at this age my greatest asset is time and I've never wanted to be chained to a job or career. It's very hard not to derive one's sense of self esteem based on what one does (or doesn't do any longer). I'll admit I've felt like a misfit these past five years, as I've really only had one "real job" in these past five years and that was only for eight months. People have asked what I do and I just say I am in transition, which is the truth. Wells, thanks again for the welcome!

Kathryn

 

[Marquette]

Kathryn,

This book: Amazon.com: Work Less, Live More: The Way to Semi-Retirement: Bob Clyatt: Books

Plus the workbook: Amazon.com: The Work Less, Live More Workbook: Get Ready for Semi-Retirement (with CD-Rom): Bob Clyatt: Books

(Buy both together for just $25.82!)

Will be the best investment you could make at this point. Bob Clyatt does a great job of giving ideas for how to approach retirement and semi-retirement. I'm shooting for the semi-retirement path myself in the years ahead myself.

Amazon.com: The Ultimate Cheapskate's Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less: Jeff Yeager: Books is another great book. Jeff Yeagar terms it selfishly employed. He has some humorous ideas for frugal living as well. (full discussion on this board too, just search for Ultimate Cheapskate).

Amazon.com: The Bogleheads' Guide to Investing: Taylor Larimore, Mel Lindauer, Michael LeBoeuf, John C. Bogle: Books is the last book I'd recommend to start. There's a lot more out there, but this one will get your feet wet if you're feeling intimidated at all by investing on your own.

 

[Kathryn48]

Thanks so much Marquette! I will check into those books. I just bought a (used) version of a Morningstar book I came across last night, so I can begin to familiarize myself with things.

BTW, I hail from Mpls. I started my business "career" in the IDS being a special messenger (back in the day long before computers) and remember that restaurant on the second floor that overlooked the first floor. Your screen name reminded me of that

 

[Marquette]

BTW, I hail from Mpls. I started my business "career" in the IDS being a special messenger (back in the day long before computers) and remember that restaurant on the second floor that overlooked the first floor. Your screen name reminded me of that

My screen name is actually in honor of my hometown... but it's obviously a very popular name for just about everything in the upper midwest ;-).

It's been a few years since I've been downtown, but last I was there, I think that restaurant is still going strong. It's an Olive Garden now, but it's actually one of their nicer locations.

 

[oma]

45 yo single here, too. I have yet to hear a family member, colleague, stranger - anyone period - tell me that they think my plan to retire next year was a good one. They can't imagine a 40-something retiring. The plan is to give it a try next year (I have a military pension to depend upon).

Picked up and currently reading several of the recommended books above. My biggest challenge will be constructive with my free time. I like your idea about volunteering at shelters.