Retired earlier this year...it was a struggle

[Hexanova]

So so many people do not believe this. I do. Came up through the enlisted ranks, went to OCS, retired and working for fun as a contractor. Well compensated and FI. A person CAN still make the American Dream happen. Financial intelligence and LBYM is the key.

I don't think I mentioned it, but I joined the military when I was 17 (mother had to sign my life away, lol), and I came from a very poor family. In the long run escaping that became very important to me as a driving factor.

 

[Milton]

With regards to my wife and working...she doesn't want to retire yet. If she wants to keep working and enjoys her work, more power to her I guess.

Sure, that's fair enough. As long as she's happy, and doesn't begrudge you your ER, it's all good.

She just turned 50 last month and says she would suck at retirement, lol. She has evidence to support her own conclusion in that she has had every summer off for over a couple decades and she's very unproductive (per her own metrics). I told her I'm going to force her to retire at some point, no later than 60, and she said "Okay."

Her point of view may change once she enters her mid-50's, as by that point some of one's contemporaries start dying or developing serious diseases. It tends to force one to confront one's own mortality, leading to a desire to do more than just carry on at work. But you can jointly cross that bridge when she comes to it.

In the meantime, I'd suggest that you gently encourage her to develop some outside interests and hobbies so that she will be fully prepared for a happy retirement when she feels the timing is right.

And TBH she doesn't even understand our financials, or even her own. She doesn't even know I'd had her contributing to a 403b account for decades (she just signs the forms), nor that she would get a state pension, or our total assets. She has no interest in it and just says "I trust you." Which could be a disastrous attitude to have in some relationships, but I love her to death and I think she knows that and doesn't worry.

She will be fine as long as you are alive and competent to manage the finances. But if anything happens to you, it could be disastrous indeed.

Spouses in most marriages develop areas of specialization, and I don't think it would be fair or helpful to try to make her take more of an interest in the finances. However, it might be prudent for you to find some reliable third person who could advise her if/when you are unable to look after the $.

 

[Walt34]

I don't think I mentioned it, but I joined the military when I was 17 (mother had to sign my life away, lol), and I came from a very poor family. In the long run escaping that became very important to me as a driving factor.

Around here in WV military service is highly respected in part because it has enabled so many people to bootstrap themselves out of poverty.

 

[1-31-18]

Around here in WV military service is highly respected in part because it has enabled so many people to bootstrap themselves out of poverty.

Absolutely right. My father was the sixth generation of WV poverty. He joined the military and moved out. As proud as I am of my own upward mobility, it was further and harder for my father to get from Barbour County WV to Marietta GA than it was for me to get into an Ivy League law school and a Wall Street firm. The military gave him (and therefore me) a chance.

 

[Al18]

Congrats on retiring.

I did a quick search on Washington Teachers Pension and it appears your wife can retire as early as 55.