Pegcarddave
Confused about dryer sheets
Well... just found this site yesterday. I'm planning to retire in January 2012. Have been contemplating this for a long time (I'm 62, my wife is 68) and I think I'm set financially. But I'm concerned about the psychological and emotional adjustment to retirement. Its hard to say "oops" if you don't like it and get your old job back.
I think I am going to like the freedom to share my situation, my thoughts, and my questions anonymously here and get feedback from people who have already done it instead of some financial advisor who's never been retired.
Briefly, we will both have pensions and social security totaling about $140,000 per year. We have about $600K in savings/investments and another $300,000 in real estate equity. We currently earn a combined total of $240,000 but have been saving about $40K per year before taxes for the last several years. We have two houses - Illinois and Arizona. Plan to spend about $100K per year in retirement. Doable? Everybody says you need millions in savings, but not sure they factored in my four income streams.
Got any tips on retiring at the same time (or different time) as spouse? How do you manage going from relevant to irrelevant? How do you discipline yourself to make the most of this exciting life transition?
Great line from the movie "Crazy Heart"..... "I used to be somebody, now I'm somebody else!"
Sorry for the long post... you all seem like a friendly and forgiving bunch.
I think I am going to like the freedom to share my situation, my thoughts, and my questions anonymously here and get feedback from people who have already done it instead of some financial advisor who's never been retired.
Briefly, we will both have pensions and social security totaling about $140,000 per year. We have about $600K in savings/investments and another $300,000 in real estate equity. We currently earn a combined total of $240,000 but have been saving about $40K per year before taxes for the last several years. We have two houses - Illinois and Arizona. Plan to spend about $100K per year in retirement. Doable? Everybody says you need millions in savings, but not sure they factored in my four income streams.
Got any tips on retiring at the same time (or different time) as spouse? How do you manage going from relevant to irrelevant? How do you discipline yourself to make the most of this exciting life transition?
Great line from the movie "Crazy Heart"..... "I used to be somebody, now I'm somebody else!"
Sorry for the long post... you all seem like a friendly and forgiving bunch.