T
tozz
Guest
Hey folks. I just stumbled across this forum and have spent a few hours poring over the posts.
I have been offered a COLA'd "Early-out" pension and need to make my decision within a couple of weeks. I never thought this decision would be so difficult. For years now, it has been an unquestioned fact that I would bail at the first opportunity. Now I am getting cold feet: Someone, anyone, speak wisdom to me!
Here is a little background: 47 years old, single. Pension would be $45K annually with inflation adjustments. Health insurance is included. I have approximately $100K in a TSP (401K) account. I have about $250K equity in my home, but a fat mortgage. My hobbies are not expensive, and though I travel quite a bit, I am a frugal traveler and tend to steer towards the less expensive destinations. Although it would hurt, I would consider getting rid of my auto since public transportation and by-the-hour car rentals are fairly good here, and the auto insurance in my neighborhood is outrageous ($4000+/yr).
I do live in an expensive area and am not particularly flexible about moving, though I could downsize a bit home-wise.
What questions should I be asking myself? After taking some time off (perhaps a year), I plan to return to some form of work albeit with a more flexible schedule.
I suspect this forum gets zillions of vague inquiries like this, but I figured I would go to the experts.
I have been offered a COLA'd "Early-out" pension and need to make my decision within a couple of weeks. I never thought this decision would be so difficult. For years now, it has been an unquestioned fact that I would bail at the first opportunity. Now I am getting cold feet: Someone, anyone, speak wisdom to me!
Here is a little background: 47 years old, single. Pension would be $45K annually with inflation adjustments. Health insurance is included. I have approximately $100K in a TSP (401K) account. I have about $250K equity in my home, but a fat mortgage. My hobbies are not expensive, and though I travel quite a bit, I am a frugal traveler and tend to steer towards the less expensive destinations. Although it would hurt, I would consider getting rid of my auto since public transportation and by-the-hour car rentals are fairly good here, and the auto insurance in my neighborhood is outrageous ($4000+/yr).
I do live in an expensive area and am not particularly flexible about moving, though I could downsize a bit home-wise.
What questions should I be asking myself? After taking some time off (perhaps a year), I plan to return to some form of work albeit with a more flexible schedule.
I suspect this forum gets zillions of vague inquiries like this, but I figured I would go to the experts.