63 YEAR OLD COUPLE LOOKING TO RETIRE

[Koolau]

Agree that it's time to go. You have a lot more than many here - especially in guaranteed income. Time > Money.

 

[Lewis Clark]

We have thought about buying a condo on the other side of the country, but are not sure if we will. We know of complex we like on the ocean in FL, and it is about $700k to buy into there. Low HOA fee.

Be VERY cautious about buying into a condo or HOA with what appears to be low HOA fees. This is likely a sign that their reserves are underfunded and special assessments may lie ahead. Ask questions - and get satisfactory answers - about their financial condition before you buy.

And especially so in Florida high-rise condos due to the recent changes in the condo statute regarding structural integrity inspections and reserves.

 

[MarieIG]

Welcome to the ER Forum.

Two links that many have found helpful with their retirement planning process are Frequently Asked Questions and FireCalc.

In your case, your finances (guaranteed fixed income) are excellent. Your "challenge" will be cultivating your preferred retirement lifestyle and optimizing your health and fitness.

And yes, I have "orthopedic" type issues, which I alleviate with a home exercise program which incorporates PT exercises.

MarieIG

 

[Tommyboy]

ummm... yeah, having 10-15x per month more in guaranteed income than than your monthly expenses easily means you can retire.
100k in dividends on top.. That has to equate to at least an additional 2m in additional savings.
Seems like it's not even a close call. I'd 1000% retire in your position.

 

[winyaz]

Your expenses are low and your income and savings are high. You can do whatever you want. To run out of money you would pretty much have to try to do so.

If anybody has advice regarding chronic orthopedic pain put that in too!!

Voltaren. I had it via Rx years ago but it is now available OTC and as a generic. It is very effective and it is topical so doesn't have the risk of side effects as other NSAIDS. It's been around for years but every time I mention it to someone it seems they have not heard of it.

 

[Koolau]

Your expenses are low and your income and savings are high. You can do whatever you want. To run out of money you would pretty much have to try to do so.


Voltaren. I had it via Rx years ago but it is now available OTC and as a generic. It is very effective and it is topical so doesn't have the risk of side effects as other NSAIDS. It's been around for years but every time I mention it to someone it seems they have not heard of it.

I'm no expert on Voltaire (or drugs in general). However, the warnings not to use it based on things like heart disease, asthma, stomach bleeding, etc. suggest that the active ingredient is NOT only delivered to the joints but to the entire body. I'd guess the gel is less absorbed than when taken orally but that likely reduces its effectiveness as well. It appears the active ingredient may actually w*rk systemically, not topically - though it's delivered topically.

Voltaren Gel: Uses, Dosage & Side Effects - Drugs.com

Voltaren Gel (diclofenac topical) is used to treat joint pain in the hands, wrists, elbows, knees and feet. Includes Voltaren Gel side effects, interactions and indications.

www.drugs.com

Again, I'm not an expert. I'd use caution and consult a doctor before use. I've been strictly warned NOT to use any such medication (including things like Ibuprofen and other NSAIDs) due to CAD.

 

[copperdogs]

Also with orthopedic aches and challenges beginning in my 50’s after a traumatic knee dislocation injury followed by TKR to”fix” it then a blown hiking ACL injury on other side.
Also harken from Oregon (Willamette Valley) where the damp rainy cold winters began to feel simply tortuous. The absolute BEST thing I did for myself was to begin going to the desert SW during the winters, where it is dryer and sunny. My body feels orthopedically speaking so much better, less inflamed and joints more fluid, which equates to better sleep, and a desire to be far more active — walking, hiking, riding my bike, exercise class, plus a clearer happier outlook due to the blue skies. It is the single best choice I’ve could have ever made for myself to improve life quality and my retirement.
So give that idea of Florida (or the SW!) during the winter very good thought for sure. The Oregon coast is such a sweet spot for the summer months too though, so might want to keep your current home if you can too.