Hi All,
I'm a single Government employee who may have an opportunity to take an early-out at 45, roughly a $35K/year pension. I have a house I like a lot and want to keep, so my first 10 years in retirement would be very tight (though I live very inexpensively) with a $20K yearly mortgage/taxes/insurance. After paying off the mortgage I'd be able to travel more and live comfortably.
My job isn't bad but this early-out opportunity may be the last one I'll get for 10 years so I'm considering it. I have lots of hobbies I'd like to pursue full time, including cycling and computer programming (possible income from that). Work has been good and interesting but I've been doing it for 25 years so I'm ready for a change.
So my options are 10 more years at a decent job with a pretty big payoff (full CSRS retirement) or a more relaxed lifestyle and time for hobbies and (limited by $$$) travel. I'd consider not keeping a car and riding my bicycle to save more money for travel. I currently have $100K in savings I'd try to keep as a buffer.
Finally, I grew up out west so I might consider re-locating there, but the early retirement would limit my income and options.
Thanks for any opinions,
Mark
I'm a single Government employee who may have an opportunity to take an early-out at 45, roughly a $35K/year pension. I have a house I like a lot and want to keep, so my first 10 years in retirement would be very tight (though I live very inexpensively) with a $20K yearly mortgage/taxes/insurance. After paying off the mortgage I'd be able to travel more and live comfortably.
My job isn't bad but this early-out opportunity may be the last one I'll get for 10 years so I'm considering it. I have lots of hobbies I'd like to pursue full time, including cycling and computer programming (possible income from that). Work has been good and interesting but I've been doing it for 25 years so I'm ready for a change.
So my options are 10 more years at a decent job with a pretty big payoff (full CSRS retirement) or a more relaxed lifestyle and time for hobbies and (limited by $$$) travel. I'd consider not keeping a car and riding my bicycle to save more money for travel. I currently have $100K in savings I'd try to keep as a buffer.
Finally, I grew up out west so I might consider re-locating there, but the early retirement would limit my income and options.
Thanks for any opinions,
Mark