I was another person waiting for my 80 points and left at age 54. Although in my case, in addition to retirement medical insurance I also got an additional 5 years of pension checks.For me it was retiree healthcare. By hanging on until I was 55 got me my “80 points” - Age + years of service, otherwise I would have retired 2 years earlier
The subtle shaming phrasing, and hubris, of this is both amusing and irritating.It seems like most on this forum could have retired earlier. I know there is always the fear of the unknown...unknown meaning portfolio performance. A lot of members here seems to have a lot stashed away and they're never going to get close to burning through all of their investments. Do you wish you would have left sooner?
Most of us do but it's not a requirement to participate here. We are very flexible and welcoming.I thought this is an early retirement forum. People here are supposed to retire earlier than the general population.
Actually this is a strong point. I'm sure many of us who retired early would consider to get back to work or leave the country specifically for reasonable health insurance, till 65 (or whatever Medicare age will be set) if ACA will be dropped or stripped down to the point where it is not useful.Until the ACA, a lot of folks could not retire early no matter their savings, due to lack of insurance. Private insurance was available, but "pre-existing" conditions and lifetime caps made it a risk to retire too soon before Medicare, especially if you already had something, even minor.
Good postThe subtle shaming phrasing, and hubris, of this is both amusing and irritating.
I quit 10 years ago because I had kids to raise after their mother died and I did not want someone else to raise them. I could have continued with the rewarding job, but priorities dictated otherwise. I was able to call it at 55 as the late wife and I had been prudent, investing early and often. No pension, only investments to last until the end. While it was close doing the calcs 10 years ago, I knew a PT job could cover the gap if needed.
That said, there have been many challenges along the way. Although I was confident that I had "enough" based on projected spending, things changed. Expenses blew out the budget after health problems and a second marriage and subsequent divorce. Those happened as the market turned down. Tense times test one's confidence, and you only know in hindsight if "expected returns" will materialize.
Fortunately, it has worked out to date, and I think I have passed the point of major concern. But there is no way to have been certain about that at several points over the last 10 years.
The TL, DR is that hope is not a strategy and having a contingency plan and/or cushion from OMY (or two), can make the later years both less stressful and more comfortable. I find no reason to be critical of anyone who works "longer than they needed to" for making a contemporary decision to improve the confidence of their decision. And it's final, there is no going back to the comfortable paycheck when you bail after 50.
Between my brother and I, the managing of MAGI saved us 20k+ total yearly. I am going on Medicare next month and am grateful for the ACA program.Actually this is a strong point. I'm sure many of us who retired early would consider to get back to work or leave the country specifically for reasonable health insurance, till 65 (or whatever Medicare age will be set) if ACA will be dropped or stripped down to the point where it is not useful.
This.In my case, it was primarily because I was enjoying what I was doing - until I didn't.
That's a crucial point, and something that aspiring future-retirees should consider early in life, decades before actual retirement. If you can't "manage your MAGI", then you're vulnerable to exorbitant costs, meaning paradoxically delaying retirement precisely because you have more money. This, and the handling of income-tax, are matters that too often we neglect while in aggressive savings-mode, striving for FI.Between my brother and I, the managing of MAGI saved us 20k+ total yearly. I am going on Medicare next month and am grateful for the ACA program.
I'm not sure how I had time to work a job. All though I worked a few extra years passed pension day, still left at 58. DW will leave at 58, a few years short of her full pension so no waiting for her.Because I don’t have enough to keep me busy.
Well, I might be still working instead of being retired for almost 9 years now, if not for my wife. I really loved my job, but it was a stressful and the money was so good.
My wife said to me, have you considered to retire and that got me thinking did some research found boggle heads and this site by accident and this site was really the one that convinced me that everything is okay.
It was a huge adjustment for me and took a good year to get work off of my mind. As far as retiring to something I had so many ventures and things I never had time for before so that was huge for me. I now did have to run to get everything fitted in and looking back now I'm very glad I did retire.
Money finances was the easy part.
I talked to friend yesterday is 68 still working doesn't have to work to make ends meet but loves what he does so I see him working till 70 or better.
I retired at the end of 2021, along with my wife. I was 67, she was 65. I would have stepped away from the desk a few years earlier, but she wasn't ready. And I saw no point in retiring while she still had a demanding job.Do you wish you would have left sooner?
With apologies for clouding our thread here, vignettes where a person plans-plans-plans to eventually retire, but dies at his proverbial desk, is Exhibit#1 against OMY, or in our case, FIRE. Yes? But we have to ask: what sort of regrets trouble the mind, of the person who's freshly dead? If he indeed "dropped dead", was there any time, for him to process the event, to form wistful thoughts about going skiing or seeing the Pyramids or even spending more time playing with his grandchilden?My doctor (sole practitioner) was the same age & also planned to retire sometime after age 70.
Until he dropped dead last week.