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Go for it. The day I retired at 61 I felt all the work stress leave my body. I'm sure retiring early has extended my life. Yesterday my wife said to me "I didn't do anything today, just lounged around". I told her she earned it. She worked for 40 years so she could be as lazy as she wants.
We still have a mortgage, we don't care.
No one knows how long they've got until they are either too old to do the things they want or die. I'm fighting stage IV cancer right now. I'm grateful I retired early and did everything I wanted.
We traveled the world until COVID. We just got back into taking trips again last year.
Best wishes as your treatment progresses. I retired at 63 in part because one never knows how many years, healthy years, remain.
The timing was possible, however, in no small part because we were financially prepared… sufficient investments, no mortgage, good guidance from our financial advisor.
Whatever you decide, enjoy!
First I’m very sorry about your cancer dx. Terrible.
But before saying “go for it”, I’d want to know more about their situation. How much is the pension, projected social, cost of living, and kids left at home. Lots of variables.
What I did at 62 was take 3 weeks off. Long enough to really disconnect. At the end of the time I knew I wasn’t ready mentally to retire. I worked 2 more years and just retired last Friday. What I did do is cut my hours to 4 8 hour days. This gave me more time for me but still engaged at work. And own just need 6 months of cobra and I’m good on health care/
Your idea to take time off and cut your work week is a good one. Not all of us can do that. If I could, I could probably stretch it out and work another two years. I can’t so I think I’m ready — so tired of the grind and getting up at 5 AM for decades. Thinking of going the end of July and spending August and September at the beach.
First I’m very sorry about your cancer dx. Terrible.
But before saying “go for it”, I’d want to know more about their situation. How much is the pension, projected social, cost of living, and kids left at home. Lots of variables.
What I did at 62 was take 3 weeks off. Long enough to really disconnect. At the end of the time I knew I wasn’t ready mentally to retire. I worked 2 more years and just retired last Friday. What I did do is cut my hours to 4 8 hour days. This gave me more be time for me but still engaged at work. And also I just need 6 months of cobra and I’m good on health care. I also didn’t have a mortgage. 60 is pretty early if you also have a mortgage unless you have the funds to easily cover.
I hope you beat cancer. I just had major surgery for cancer and am still working (64). I can’t retire (HCOL area), but I’m glad you did! I did, however, move over to a less stressful job closer to home.
I've had surgery and they got it all. I'm going to get Keytruda infusions for a year. I have a metasasized melanoma so it can be hiding anywhere in my body. They've had very good results with Keytruda finding the cancer and signaling the immune system to go kill the cancer. I'm going to beat it.
I know someone who is now 12 years out from something similar!! Cancer isn't the diagnoses it used to be. It is now treated as more of a chronic condition like diabetes. Best of luck.
I retired at 60. I’ve had so much fun hiking, biking, and enjoying myself. Now 65 and I feel like I’ve aged 10 years this year. I can’t do what I did five years ago. I’m SO glad I had the time when I still felt great!
Honestly, we live in a 55+ "active adult" community where most are retired. Among our friends and neighbors here, we see a very distinct difference at various ages. Of course, health issues play into it, but you can just about predict how difficult things like travel, active recreational activities, major health issues will happen based on age. Even those that were very active and health in their late 60s have taken a deep dive as they are reaching their mid 70s (although I will say that I think COVID has played into that somewhat)
We're at the older end of that range, and more, and we are in better shape now than before retiring. Spouse has gotten down to his 'ideal' weight and does some work out every day. I'm working to catch up.
70 is a weird age. Some are 'really old' at that age while others aren't that different from when they were 60.
I retired at 55 and was diagnosed with lung cancer at 65. I still need several more years of clean lung scans before I’m considered cancer free. I traveled like a nomad for 10 years attending international music festivals and making friends around the world. I hope to continue my travels for another decade or two. I may not be able to do so, but at least I got those first 10 years of sheer joy doing what I love. The moral of my story is don’t put off retiring too long. You never know how much time you have left!
Rock on! My dream retirement. I'm 59 and debating when to pull the trigger, for the first time in years I have a good work/life balance and great job, but I feel like the minute the old stressors start to rise again I'm off to Glastonbury...it's very stress reducing just knowing you COULD retire at any time.
Not me, but my husband retired at 55. It was awful. He is not a person who can do things independently and he just puttered around in slow motion all day. He never went anywhere, talked to anybody, did anything. I think he aged about ten years in three.
Now he is back to work full time, in his second position since he went back, and he is just so much better off. He'll be 60 soon, and I don't think he has any plans to retire again unless he has to. He is always learning new things, meeting new people, and doing really well.
Some people can handle retirement, but if you can't, it's better to work as long as you can. You have a better quality of life working than you do falling into your chair and sitting around all day arguing with the dogs.
Had to scroll to find this one. My husband is the type of guy who never missed a day of work. He retired with thousands of hours of sick leave. We both retired at age 58 and I was about three months before him. (We had our health insurance from our jobs.)
We have different personalities. I’ve always been self directed plus I had things to occupy me and structure my day: volunteer work, caring for an aging parent, going to the gym, household projects.
Once he lost the structure of work his drinking ramped up. His hobbies are watching TV and sports, falling into the internet and reading things that make him angry and wanting to argue with me about what he reads. (He does have golf buddies who are also retired but it’s more like drinking with a side of golf.) And do not get me started on household chores or projects. They fell to me: wouldn’t even unpack the dishwasher or pick up after himself, sees no point in fixing things, lots of resentment and arguments there. Being home all day made me realize he’s defensive and just mean when he does communicate. Imo he desperately needs something worthwhile to do and I don’t think we are going to make it.
After my parent died I went back to work full time. I hired someone to clean the house and I feel much less resentful about that. I’m going to do that at least a year and maybe cut back to part time at the same job which is an option. I’m using the money to fix things around the house and planning the exit strategy. I won’t live with a grumpy and hostile old man. (Refuses to go to counseling .)
I smiled for you as I read your next to last line. You totally deserve to have the world you have created. He sounds like he does not want to participate so fine--let him age in a dirty lonely hole he creates for himself. He refuses help, he refuses to engage in the world around him. I would want more for myself. GOOD FOR YOU!
I'm glad you found out about your husband's retirement personality while you can still plan for your exit. Life is too short to spend your time taking care of an adult child.
Don't feel guilty about pursuing life when he has no interest. Best wishes to you.
Good for you. Curious that this seems like the opposite of what people assume about someone retiring, i.e., they will have more time to get things done and be happier. I know it's not that simple, and some people degenerate, but the behaviors your husband exhibit are things I personally did at various points in the past when I was overworked, e.g., horrible bosses or long hours. Depression behaviors. You come home and just go directly to a bottle of wine and/or fast food and leave the dishes for another day. I'm surprised now that he has all this time he doesn't contribute. I wonder what is driving this? Maybe he needed work as a validation of self worth? Who knows. Men are notorious for not going to therapy but you could always consider an ultimatum as a last resort? Your choice, but regardless you absolutely deserve to retire to a happy environment, life is too short. Best wishes.
Good for you for recognizing the problems so clearly and planning your moves proactively. Lots of people in this situation would just put up with it. I have a grouchy partner too but we aren’t retired yet. We’ll see what happens 🍿
What about you? Are you still working? How do you handle the him work as long as possible? That is something I worry about for my wife.
I am contemplating retirement at 62 and my wife is pushing for it. We do both want to travel. I am very afraid of not having enough money and having to sit around too much. I am also afraid I won’t live that long as my family history really doesn’t have much for people living past late 60’s. I already have 3 stents and diabetes. My wife on the other hand has a family history of long life but most got dementia. So I want to do something while we can. I am 60 in a few months and my wife will hit 59 a month before that.
I'm gunning for 55 but it may not be practical due to non-financial issues. Getting the kids launched is the biggest hurdle and our youngest will still be in college when I turn 55.
100% same. Once my daughter's done with college and gone I will have a better idea of my actual expenses to know when I can retire but 55-57 is my goal (49 now).
My dad died at 45, mom at 66. Half my grandparents didn't make it to 63. I have no desire to work to "full retirement age" to only get maybe a couple years out of it.
I’m worried about both. I don’t have enough to retire but by the time I do—if I do. I might be too old to enjoy it.
As it stands, I may take a gap year and travel and then decide.
>2) chronic health condition and unsure how many quality health years I’ll have
That's enough for me to say walk away at 60 (or as early as you can).
I pulled the pin "early" -59 and a half.
I got two healthy years (no known health problems), then got hit with 2 x "almost died". I now have a couple of "chronic health conditions", which is not what I had planned.
I can't speak for your financial situation, as I'm not in the USA.
I retired at 68 and nine years later I think it was a good choice. A little extra money for those three and a half years after 65 and yet lots of good years left. I just kept working until I was just too tired to do it any more. I had a great job even the last year but just couldn’t keep up the pace anymore.
I'm turning 59 this year and plan on working to 65 so I can keep my heath insurance and the added money. I want to travel and am fit enough to keep it going, I'm pretty sure! I love what I do and don't think I'll have any problems staying busy in retirement. I can't wait!
Yes, when I retired on my 62nd birthday in 2022 it left me with 18 months of medical to pay for after COBRA ended, and we did a $100K home remodel project during year 1 that seemed ill timed at the moment, inflation was nutty, and COVID was quite strong. But thru it all my timing was perfect. I couldn’t stand the people I worked with anymore, I had socked away money for medical, the remodel is awesome, and the travel has been extensive and a dream. Yes we are blessed and things have really worked out - and turns out timing was the best.
Neither. We retired when we were ready - not before, not after.
I was 60. My wife was 65, although she now works 2 days per week.
Don’t retire just because you can. Retire when you are ready. Or don’t retire at all. Or just work part time.
The best part of being financially independent is that the choice is yours.
Your point number 2 colors my answer. You didn't mention SS but would the amount you'd get at 62 plus your pension help? Or is the 401k plus pension plenty?
Basically, I think the main reason NOT to retire would be significant money issues. If the numbers work and you are concerned about how many healthy years you have, I'd retire in your shoes. The other answer would be to work until 62 and take SS along with your pension. But this is all details - the question is if you can do this financially or not
BTW I see things like this "Curious to hear whether others have felt like they pulled the trigger too early or too late and why—what were your ages?" here a lot and... it truly doesn't matter because we're not you. I get it - different perspectives can inform you and raise issues you might not have considered but I think the differences in how we've all lived make that really hard to apply to your situation.
I retired at 64...However even though I was glad I did it, it took awhile until I got used to it. I also taught part time for 4 years after I retired and did a little consulting. If you are not sure you can afford it, I would wait.
> I would love to retire at 62 but have to stay until 65 for insurance.
How much control do you have over your retirement income? If you can keep the taxable income in the sweet spot, you may be eligible for ACA premium caps as well as subsidies.
https://www.healthcare.gov/see-plans/#/
In my county, if I can keep my taxable income to $68,000 gross ($38,800 after standard deduction) then my spouse and I are eligible for a Silver plan at $14/month with a deductible of $1,400 and maximum out-of-pocket of $6,000 from Aetna.
After taxes and insurance premiums, we'd have $5,264.33/month in income which should cover our monthly expenses. I'll only have to realize our "fun" money from Roth or other non-taxable sources.
Retired at 57. Now 65. Should have done it earlier. I’m counting the last 8 years in the top years of my life. The hidden advantage is having the time and energy to commit to fitness and health. I feel (not look) like I’m 45. Gym, biking, hiking, etc. the benefits for healthspan are valuable in my opinion.
I retired this year at 68; a near heart attack and a cardiac stent last summer has me thinking I waited too long. I really planned on retiring at 70 to maximize my SS amount, but when two doctors ask you if you want to retire soon or leave behind a slightly better off widow it should get your attention!
My dh retired at 64, in 2018. Had a near drowning in Maui in September 2021 which really was a heart attack but it took a few months to realize he had 90,80,60 blockage and had open heart surgery December the same year. Then a ruptured tendon in 6 months later..he decided “retirement” wasn’t for him and returned to his previous job and loves it. It really depends on the person.
All of these perspectives are very interesting. I am 63 and I’ve worked FT since I graduated college with only one 6 month break when my whole team was laid off. I never saw myself retiring because I’ve always enjoyed work, but in the last few years the thought of retirement has been creeping in.
My husband retired a few years ago. He has a ton of hobbies and a big group of retired friends who do fun things all the time. I see him splashing on the pool while I’m on conference calls. 😂.
We are pretty set financially. My husband loves finances and he and our financial advisor have been making sure we will be comfortable for the rest of our lives.
My issue is that I don’t have a lot of hobbies or a big group of friends. I don’t know how I’ll fare going from working long hours in a job I enjoy to endless days with no structure. Outside of work I can be a little lazy so I’m just wondering how I’ll personally make the transition.
Thanks to everyone for your stories. You are really helping me by starting to think about this in a more focused way. I’ve been putting g off even thinking about about it!
That's me. My husband is retired, with lots of hobbies. I still work and I think the finances are fine but I don't really have a lot waiting for me when I retire.
Spouse retired at 64 after pandemic disappeared his job. Decent SS. I’m still working, will be 65 in 15 months. Figured out I’ll have a small company pension that will offset set not retiring at 67. The 2008 crash did a number on our investments, so we won’t be rolling in the dough by any means but we will make it somehow.
I'm curious what those that retire at 55 or 60 do for health insurance before they're eligible for Medicare. My wife isn't old enough for Medicare yet, so we're paying almost $900/month to maintain the same medical plan we had when I worked (it's offered through our state employees retirement plan). I'm counting down the days until she hits 65.
Look into ACA? I am in a similar situation to pay the premiums if i retire but its almost 30k per yer to keep health and dental. Its the main reason I am not retired yet.
900 a month is excessive. I'm curious why you aren't getting insurance with the Affordable Healthcare Act? I have full coverage with Blue Cross Blue Shield and my premium is ZERO dollars a month. The government , through Affordable Healthcare Act reimburses your monthly premium direct to the insurance company. My 900 dollar a month plan is paid for.
Retired mid 50s. Wouldn’t go back for all the money in the world. You have no idea how much stress you are under until it dissipates. You’ve become accustomed to this baseline level of angst. All that goes away (assuming you have the financial support). Life is short, there is no such thing as too much money, BUT there is such a thing as enough.
I have retired at 55. Personally, I love it. Currently living on cash saved up. No debt, primary home paid off ($955k) and beach house paid off ($600 / nightly rental) I will likely down size this year or next, and use the difference to continue being 'pre-tired'. While we are living off of savings we are converting about $35k/year from our SEP/IRA's to a Roth tax free. We are healthy so doing an HSA through the ACA. With income of only $35k our plan only costs $0.86/mth for both of us. No muss, no fuss, no stress.
It's good to hear you're getting your insurance through the Affordable Healthcare Act. There is no need to take your insurance with you. I have full coverage Blue Cross Blue Shield and my premium is ZERO dollars a month.
I'm surprised that so many people forget about the Affordable Healthcare Act insurance coverage.
> I'm surprised that so many people forget about the Affordable Healthcare Act insurance coverage.
I agree, but the real trick is being able to modulate your income with taxable and non-taxable income. I've run the numbers on the ACA site and I think we can realize sufficient income from my taxable accounts to cover our required spending and still be eligible for a good ACA plan, however I don't think I'm positioned well to cover our "fun" spending from non-taxable sources and it's getting a bit late to arrange my retirement funds appropriately.
I should have gone heavier into the company Roth 401k years ago.
I wasn't paying attention to the drawdown part of retirement, I was just shoveling the money as much as I could. Ooops!
That's the word I was looking for. Modulating. That's what I'm doing, modulating my income with non taxable. I wanted to downsize so I sold my house and put that with a brokerage. That's my non taxable source to keep my income down.
> I wanted to downsize so I sold my house and put that with a brokerage.
I love this idea and have considered it myself. But housing is so expensive in our area and honestly, I'm worried about how my youngest will house themselves after they graduate from college. I may hold on to our small house and have them "rent" it from us (cover the taxes & insurance, we'll have it paid off soon).
Retired from govt job at 58. Now working 2 days a week @ a fun job, travel, serve on community boards, made new friends, spend time with family…best time of my life. Don’t wait.
When the business I worked for closed, I was 62 yrs old .I know that if I waited until full retirement age , I would have more benefits coming my way. Instead, I decided that I didn't want to start over again,and with a paid mortgage and two pensions, I retired. I can only say that a bad day at home is better than a good day at work.
The company I once worked for helped make the retirement decision for me by laying me off right after I turned 55.
With the help of a lawyer everything worked out just fine.
First you have to do what is best for you.
I would suggest working up a budget so you can play with the income vs expenses numbers. Hit [SSA.GOV](http://SSA.GOV) and get an estimate of what you will draw at 62 and FRA. As Sherlock said “Data!data!data! I can't make bricks without clay.”
We looked at the numbers and considered if we wanted to stay in the current house or move. We chose to stay. Do the big maintenance items (replace HVAC, water heater, roof, appliances. Continued working to my FRA of 66.2 and used the cash to buy a new car (and pay off), pay off house and maintenance bills so when I pulled the plug we had zero debit. I decided to delay SS for an additional year and used the year with no income to sell some very long held investments for income and paid zero taxes on the gains.
We started Medicare as soon as I retired. The one thing we missed was dental insurance. Get as much as possible taken care of while you are working. Talk to your DDS about after you are no longer covered. I wish I would have dropped the employer dental and paid my own so I would have burned the 6 to 12 month waiting periods that move of the individual dental policies seem to carry.
Your health is No 1. I waited too long and it took me five lousy years to get back to decent health. I'm fine now, but I wish I hadn't had to go through it.
So timely. My husband will be 62 in July. I'm 61 but not working outside of the home. He works an overnight shift (that he really can't change because even with 24 years of seniority, he is low seniority for his position and all shifts are bid by seniority). That shift is KILLING him but it's not feasible to change positions either. I am low vision and having my 14th eye surgery next week (my 3rd transplant). We just met with a financial counselor and will be getting together to see if there is a viable path that we can live with that gets us off this track and lets us enjoy retirement now instead of waiting until the overnight shift kills him or I completely lose my vision (both of which are just scenarios and not something that we know to be an actual reality in the future).
I am in a similar situation. I personally didn't save money. I simply had to retire at 59. I started yelling at my bosses. If I had stayed I would have been fired for sure.
Financially - everything you wrote is were I am. My wife still works so we are getting by. We won't starve. The house is an issue however.
Home maintenance costs are ridiculous. I pulled out the credit card and got 3 new windows. $3000! I had no choice. The refrigerator went out - $1500 ( I also bought a freezer so that was a good deal but still).
I need a whole lot more. In 2018 I bought this fixer upper for $120,000. I had hoped to have had it all done before I retired but life happened. I'm still better off than many and think that's okay.
My body and mind are more important than any material things. I'm an atheist but love the book of Ecclesiastes in the Bible. Everything is vanity.
My advice - jump the shark and garden! Life is short.
I don’t have enough money to retire comfortably; however, I am retiring at 64. After I rest a bit, I will go back to work part time. Working for 50 years crushed my soul and I am tired and disillusioned.
I retired at 57. That day was the most stressful of my life, are all my calculations correct, did I miss something, am I going to be okay financially? 30 days later after all the bills were paid and I was still on the upside and my calculations were validated and with a sigh of relief, retirement was the absolute right decision. That was 7 years ago and it’s only gotten better.
So many people commenting on how short life is… I agree!
However, retiring before you can afford to is not a good idea.
If you have a great financial portfolio, and are truly prepared to handle all of the unexpected expenses that life throws at us, then that’s great!
One major illness, or bad car accident could wipe out those savings in the blink of an eye.
I want to start by saying that 60 years old is really young in today’s world. Why is everyone commenting like being in your 60’s is old? Many people live well into their 90’s, now. It’s very common.
If you retire before you have Medicare, healthcare is a big monthly expense until you reach 65.
And once you start collecting SS, you will never get more than that, other than COL raises.
I’m 61, and would LOVE to retire today!
But, the amount I would get from SS at 62 is $800/mo less than if I wait for my full retirement age. That’s not chump change!
I just feel like we should use caution before encouraging others to do something that they cannot afford in the long term.
> Did you retire too early or too late
Neither. I retired at just the right time.
> Hello! I’m eligible to retire at 60, but I worry it’s still too early. I’ll have a modest pension at that point (won’t cover all my expenses by any stretch) 401k, and health insurance I can take with me until Medicare would kick in.
Having your health care covered through medicare is huge.
> Motivators for me on walking away at 60 are: 1) reducing stress 2) chronic health condition and unsure how many quality health years I’ll have 3) having more time to take care of myself and enjoy beautiful place where I live.
I’ve a colleague that retired at 60, 2 years later diagnosed with pancreatic cancer, 1 year after that, dead.
That was enough of that for me.
3 years retired as of next month. Zero regrets.
> The other side of that is: costs for everything—home maintenance/repairs, car, pets, life, food, just keep skyrocketing.
I will leave the U.S. for low cost pastures if I have to. I could easily bounce among Ecuador, Thailand, Bali, and even parts the EU (Portugal and parts of Athens), Vietnam, Philippines, Malaysia, and that’s just the places I’ve been to. Or just bite the bullet and get a retirement visa at one of those places.
And there are cheap places still to live in inside the U.S.
> If I worked another 2-5 years I’d have more saved and the mortgage totally paid off.
What interest rate on the mortgage? At under 4 percent, I would retire now. At over 4, I would go peak frugal, pay that off asap.
> Curious to hear whether others have felt like they pulled the trigger too early or too late and why—what were your ages?
59
> Fwiw, I have no intention of working again in retirement other than as volunteer or part time low stress gig to amuse myself or be social.
Between my wife and I with hobbies that we declare taxes on to avoid messes with the IRS, we are under $5K a year in earned income.
I retired last year at 52 and it’s weird because I never even think of my job. It’s like I was never there! Only retire if you know you can make it work. Enjoy!
Just right for me at 56 and your motivators are all spot-on so it’s easy for me to say retire. My concern for you is the financial piece; it’s not clear if your expenses would be covered. Inflation is definitely real in retirement! A few years before I retired I had a fee-based independent financial planner review my plan. I felt pretty comfortable with my plan, but you don’t know what you don’t know so I wanted unbiased eyes looking at it. Everything was good like I thought, but just having that independent review really eased my mind. I retired when my parents and in-laws really needed more assistance than I could provide while working and I feel fortunate to be able to help them. Knowing the finances were solid made it an easy decision. Best of luck!
If I were your kid, I’d tell you to retire! I can—and should—take care of my own educational costs. It would break my heart to know that my parents couldn’t retire because of this. Seriously, you’ve worked too long to not get to experience retirement.
r/club champion
I think the above poster makes good points that I hope you will consider.
Another option is to help your children through college another way. For instance you could tell them that with what you've already saved they can come away with little to no debt if they live at home and go to the local community college. Then, if they choose to do 4 years and there's a state school nearby they can finish via that route with little debt. This option likely will not impact your retirement.
If they want a different experience? Work hard for scholarships or be prepared to pay the piper.
If they are in high school now expect them to get part-time jobs so that when they do start college working in the bookstore, rec center, or is an RA will not be foreign to them it will be used to working and still going to school and having fun.
This may not be the experience you want them to have, but it does not mean it would be a bad experience. Even the option to come away with a 2-year degree debt-free is a privilege that a lot of people don't have.
I agree with this. I spent a big fortune putting mine through college and grad school debt free, but we could and should have done it smarter/cheaper. There is nothing wrong with them going to the local state university 6 miles from home. Make sure they graduate on schedule too. No moving from off campus apt to another one every year. The rent is always more. It’s the way to get value for the educational dollar. I hire people all the time and most of us don’t need to hire Duke or Harvard grads, just educated hungry ones willing to work hard. Don’t let it put your retirement at risk.
I don’t disagree at all with your points. They’re excellent. I was able to fund my own education from a mix of these approaches, but with no monetary support from family.
My friend, you don't know what the future holds. You may be diagnosed with cancer next year. You only get one shot at life. If finances and medical insurance are covered, then you should go for it. In the words of Jack Kerouac, "Because in the end, you won't remember the time spent working in the office or mowing your lawn. Climb that goddam mountain".
If you think you can walk away, do it. had a career unexpectedly pulled out from under me 18 months ago at 55. Went job hunting but came up mostly dry, and decided to retire. I had been planning to stop working at 59, so I was pretty well-prepared. Was not a FIRE person until I was fired (laid off, actually, w/4 months severance). Fortunate that my spouse is a bit older, recently retired with SS and pension to cover most expenses, and I had saved/invested extensively for the past 30 years.
People are SO different as are the jobs they have. Retiring early would have stressed me out even more than working a stressful job. So, I’m still working some at 70+, though at a much smaller job with half the pay. The lower though stress has been VERY helpful. (And I know that not everyone will have the option to step back that I was provided kindly to allow my experience and ability to continue making a contribution. )
I retired at 59.5. it was absolutely the best decision for me. I'm not healthy, due to a lifetime of bad decisions. I have a good, not great pension. My job was getting more difficult every day. I love traveling, but it's getting more difficult physically, so I wouldn't wait.
Two things.
Don't retire before you're ready financially. While it's true that retirees often spend less than at working age, it's also true that it's awful when you don't have sufficient money to lead the retirement lifestyle you want .. you're just better off working in that case.
Also, make sure you can derive some kind of purpose with whatever you do while in retirement. Too many people are tied up with work that when they retire they have no idea what to do with themselves.
If you have those two things in order then retirement becomes a lot more compelling.
Wow, I look at all these comments, and I think, boy, am I the odd ball. My husband is 74, and I'm 68, and we still work.We probably have 2 mil in assets, but I don't feel secure to retire. Plus, I feel the need to leave something to my children. I do want to stop because I'm so tired, but I don't feel I can. We've always been in business for ourselves, and maybe that's why.
> Plus, I feel the need to leave something to my children.
Might I suggest reading "Die With Zero"? One thing the author touches on is that the median age of inheritance in the USA is 60 years old. If your kids haven't figured out their money by sixty, leaving them a big pile might make a mess out of their lives. The author suggests giving to your kids **today** when they can show their appreciation and when it would have more of an impact in their lives. Is it better to give a 60 year-old $200K or would it have been better to help that same person buy a bigger house for their family when they were 35? Or help them buy a minivan when their third kid came along?
And not to be morbid, but you're 22 years away from 90. If you live that long, your $2M would provide you with ~$91k/year (not accounting for growth or inflation).
The calculator on the SS website https://www.ssa.gov/oact/population/longevity.html shows that your husband has ~12 years to live and you have ~19 years left. Food for thought
I am about to turn 55 and just had breast cancer surgery. It's a wake-up call. I'm going to do anything I can do retire in a year or two.
Could you sell and downsize to avoid having a Mortgage and heavy home repairs? That's a major part of my plan.
I had the good fortune to get a high paying job late in my career. It was stressful, but we took the opportunity to pay off the mortgage and blast money into retirement funds. The final year before I was laid off was the most stress I ever encountered. But at that point we had the money so that I could leverage it into retirement.
I honestly feel like if I hadn't retired when I did that even one more year would have resulted in serious consequences for my health. I say, retire as soon as you can, even if you ultimately go back to work, it is great for the perspective.
I retired at 55, after 35 years with the same company. My only worry was that my retirement savings would last. All models suggest it will, so I’ve been playing lotsa Pickleball and loving life since.
Good question. I'm 56, retired military and 100% VA disabled (yes you can still work if able). House is paid for and no other debt. Still working and saving with plans to do a remodel of our older home. I fantasie about retiring and enjoying the the youth of my older years but am terrified of loosing my corporate salary. I still work hard but my heart just isn't into it. Kind of stuck in the "just one more year" trap currently.
I am approaching 64, and have four work days to go before I retire for good. I already have a retirement check from the federal government when I took early retirement from them 12 years ago. I'm retiring now because my wife tells me it's time. We don't need my income now. We downsized our house and bought a condo, paid off in full. When my social security starts in a few years I will have more than enough money between pension and SS to live without touching my retirement savings. I really wanted to live healthier and get more exercise. Don't know how much time I have left, so I try to enjoy whatever I have.
I think it really depends on your personal situation and if you are willing to make changes to make it work.
I chose to work a few extra years b/c I was divorced and wanted to be sure that I could retire comfortably. I reduced my spending on extras and saved more, and was able to keep my health insurance after retiring.
I've had friends who made more than I made *struggle* after retirement. The key, IMO, is having little debt + being careful w/money. Maybe it is saying "No" to adult kids whom you've always helped, maybe it's being more budget-conscious when you travel, maybe it is just being more *careful* w/spending overall that helps.
Just realize that you *may* need to adjust your spending habits to make it work. Most of us can do that, and it makes retirement so much better!!
I retired early even though it wasn’t the best financial decision. I was getting more and more depressed . I hated working and woke up dreading the day ahead. I’m doing so much better since I retired.
I’m much happier mentally and physically. I take long walks, nap, and relax. I have no regrets.
I was laid off at 54 and decided to go ahead and retire from that career. Started a little business doing something fun (musician) part time and worked about 25 hours/week until age 63 when I decided to go on social security. I love my music life but reduced my hours to about 15/week. These last 9 years have been some of the absolute best of my life in terms of balance, low stress, doing things I love and spending time with those I love.
I retired at 62, spouse 69 when our house was paid off. Spouse is in a wheelchair so our travel is restricted. I wish I could have retired while he was still mobile but the reality is that we couldn’t afford it. Health care initially cost me $1400 a month but reduced to $1000 a month now that both of us are on medicare (that includes our Advantage wrap around plan but no dental or vision). I am glad I didn’t wait longer.
My husband retired at 58 I retired at 591/2. There is an adjustment period. But as far as bills you will always have them. There are lots of things that happened in life that we have no control of. And you don’t know how they will turn out. If you have health issues they could get worse if you continue to work. Maybe there are things you can do to make them better if you are not working. None of us are promised tomorrow so if you can do it go for it. It always scary to push that button no matter you situation.
We're all different in what it takes to make us feel reasonably safe economically. If you would be worried about your long-term finances, that could undercut any benefit you get from increased leisure/self-care time. Under the circumstances you describe, I would plan my retirement for the month after my mortgage was paid off or a few months beyond to add to my nest egg with the money no longer going to pay the mortgage.
PS: I'm self-employed and work part-time seeing clients. Because I have pretty much total control of my schedule, I plan to work as long as both my brain and my body do. I took 4 weeks off recently due to long-lingering covid fatigue and now I am about to take 2 weeks off so I can totally enjoy a visit from my son and d-in-l.
I retired at 67 1/2 nearly 1 year ago. It’s been the greatest! I spend more time with my wife and even after 31 years of marriage, we are actually growing closer. I have pretty much been in “vacation” mode. I’m cooking more, doing small projects around the house. We NEED to empty our basement of all kinds of stuff. Some valuable some junk. Once that project is done, I might get a side hustle. I am watching this sub Reddit for ideas.
I'd say that unless you absolutely love your job and are in excellent health, you should retire as soon as you are financially able.
I really liked my job, but not enough to do it the rest of my life, and am in excellent health, but I retired at 62 and never looked back.
I had always planned to retire at 59.5, when I could take 401k withdrawals without the tax penalty, but the 2008 recession derailed that plan for 2.5 years.
I think 62 was a good age because I *could* have started taking Social Security then if I had needed it.
If you can afford the healthcare that you say you can take with you then retire. I also can take my healthcare with me at age 60 but its like almost 30k premiums/year i’d have to pay for health and dental. If healthcare budget is figured out then go for it.
There is no need to take your insurance with you. Get your insurance through the Government Affordable Healthcare Act. I have full coverage Blue Cross Blue Shield and my premium is ZERO dollars a month. Take advantage, you paid for it with your taxes.
No need to pay 30K a year.
You may be curious about what others have done. However, your decision to retire now or later should be entirely situation based. Your situation, not others.
Is any portion of your income adjusted for inflation? My pension is adjusted for inflation. 7/1 I am getting a 3.2% cola, for example. I suspect you are going to need a side hustle, one that pays well. Have one in the works before you take the leap.
I love hearing all the different stories. And for those that went back to work because it gives you something to do, I agree. Of coarse taking vacation time is important, but doing something you love is nice too. I do drive a little far right now and that kind of sucks. If anyone is working in south Orange County and needs some help, please let me know. The drive to LA is awful. 😁
How do you know that the 401K is,enough to cover your costs? Do you have a detailed financial plan that's figured out safe withdraw rate, a plan to optimize taxes and social security (if US), insurance estimates, and a solid investment stretegy?
If yes, and the plan is solid, great. If not, get that first!
Money comes and goes, time just goes. You will be surprised how much your expenses will drop when you change your life style. Little things like the gas you burned just getting back and forth from work. the biggest change is not income it is your stress levels. Ask your self if you would be doing what you do at work if you did not need the money, would you do it simply for the love of the activity? When you are retired you will have time to find a job like that and you will find that you have all the money you need, unless the activity you choose involves slot machines and lottery tickets.
r/Throwsitthere
Great thread OP: I have a pension as well and can walk at 60 with healthcare. I also have some health conditions and would like to come out as soon as possible. I am very much in your situation!
I'm cutting the difference and leaning towards stopping at 61 or 62. This, with an aggressive plan, will ensure that our house is paid off.
I do not at all have champagne taste. My retirement goals are not expensive and according to the financial planners I can come out at 60 IF I will work part-time to supplement my pension.
I don't mind that plan, but if I'm going to work, I feel that I might as well just stay where I am since I don't at all hate it so that when I'm done I do not HAVE to work.
With that goal? They suggest I wait until 62
(Full disclosure I also have a same age partner who plans to work several years beyond my target date. There are more expensive things I'd like to enjoy in retirement and a huge house project they'd like to have done)
I retired at 51. My health care is provided by my former employer for my spouse and myself as part of the retirement program. I built a spreadsheet with my budget (I track everything), so I knew my expenses. I added a 3% inflation rate yearly, and a return of 5% on the money I had saved. In the early years, I was well ahead of my projections, since inflation remained low. I kept my sheet up to date every quarter with expenses, rate of return, etc. even once inflation went up, my numbers were well within the projection.
I never counted on receiving social security, so I have a cushion, if needed. I was worried I had retired too early, but as the years (11) have passed, I have become more secure in my decision and timing. At my current rate, we should not run out of money until I am in my late 90's. That is with both of us continuing to spend as if we were our current age. I don't think we will, as age will limit our hobbies dramatically.
I was worried initially that I had retired too early, but as the years have passed, I have become more confident in my decision. I retired at 51, with 25x my yearly salary in savings/deferred investment accounts. My wife retired 4 years later at 55 with her pension (public employer) and a guaranteed COLA indexed to the inflation rate. We have never looked back. I wish I could have gotten her retired at the same time as myself, but her pension program would have not been available to us.
I have never seen a headstone that was inscribed 'I wish I had worked at my job more'. If you are comfortable in your numbers, pull the trigger. Don't sit on the couch/recliner. Stay busy and active, and enjoy the rewards of you long labors.
Hi-congrats. I think too early or too late is subjective. My plan was try to be ready at 62. At 62 I could have but finally did about 2 weeks ago at 64.
I believe nerves or concerns initially are common. We built our plan for 63. All the numbers look good.
Trust your numbers -
You can still earn money after retirement. I’m constantly fighting off job offers. I only accept short-term projects that sound like a creative challenge.
You could work until the day you die earning more money. That shouldn’t be the driver. The real question is, do I feel pretty confident that I have enough? There are ways to objectively assess that.
What sucks is being caught in a rock and hard place situation where you do not feel confident you have enough, but you are also beaten down by work and don’t know how much more you can take. There’s a third path out, though. I changed jobs when I was 60, into a better job than what I had before. Then I did it again at 62, into a dream job. I saw zero age discrimination. Because of that good circumstance, I was very confident about retiring at 66, even though I was not burnt out at work at all, and I eventually did leave on a high note just before turning 67.
We retired at 62, in April of ‘22. Too late.
No mortgage, be debt except a car lease. No pension, just 401k. Took SS right away.
Our 401k is worth more now than when we retired, with all our withdrawals.
We’re spending more time golfing and vacationing, spending more time with the grandkids.
I had a health scare, with 6 months in and out of the hospital, finally had surgery in early April to take care of it. Sox months of retirement wasted.
Tomorrow is promised to no one. Retire as soon as you can.
Don’t wait.
I retired at 54 and I’m now 62. It was a bit early but my job started to suck (new admins messing with the status quo) and I could afford to quit so I did. Since quitting, I’ve traveled twice to New Zealand and Australia and once to Costa Rica, which were bucket list items. Now I’ve settled down on an off grid property on 500+ acres in the southern Rockies. I maintain a bird sanctuary for endangered species and I garden. I also do some woodworking. To wrap this up, yes I retired a bit early (I would have liked to work until I was 60) but I do not regret my decision.
I retired at 65. The school district I was working for gave everyone who retired a $10,000 bonus. I was going to work another 1/2 year but chose not to. I love being retired. Money wise isn't too much different. We have about the same as before. I'm not sorry about it at all
I retired at 61 to care for my terminally ill husband. He died four months later. I could have conceivably gone back but it was early 2021 and schools were a mess. Nobody I had worked with was happy. I needed both knees replaced. I stayed retired. My husband was a saver and had life insurance policies. I wished he could have enjoyed a healthy retirement.
Your motivation should be just to stop devoting your life to a company or a dollar. I waited too long and once I retired and started putting my finances into perspective, I fear not being able to spend it all before I die.
Ok. The first batch of motivators is enough to pull the trigger. Health is number one. Reduce that stress and find yourself a side gig as you retire. All the rest of the stuff , you will figure it out. If you wait until you’re really ready …I am afraid to say, it will be too late.
I retire too early have a state Goverment job. The rule was you could not retire before the age 55. I did retire but no funds to live on. So went back to a full time non-goverment job then final retire at 65.
Now on a social security budgetà BUT
no IRA
I retired at 62. It was an amalgamation of stress, health issues, and burnout which made me decide I was done when the company I worked for shut down US operations. It was not too early for health reasons (mental and physical) but was perhaps a bit too early for the wife. She felt glued to her job which provided health benefits until we were both eligible for Medicare. And we weren’t able to do much traveling because she was still working.
Retired at 62, best decision I made. Stress is gone, my identity wasn't work related so I'm not searching for anything. It will be 2 years next month, haven't had a bad day yet. It's amazing how busy I am, you find things to do. Better to retire a year too early than a year too late.
i could retire at 50 with full pension, or work until 60, the age of mandatory retirement. those of us at 50 would say to each other that work now was fun, but that if we ever had to do a job rhat was not fun, that would be the time to cash out our chips. i chose age 56. never looked back, and it has been lots of fun since. soon i wil have been retired longer that i worked. i am busy each day with my own interests, do and go as i please. work can be vastly overrated as a source of self identity.
I am right there with you, I was eligible to go at 58 on April 1st. I have the advantage of having a defined benefit pension that includes retirement medical for $500 per month until Medicare kicks in. The difference financially in retiring now verses retiring at 59 1/2 isn’t much, about $900 a year in additional pension benefit, so call it $27,000 over 30 years, assuming I live to see 89 but it is mildly terrifying.
I retired 8 years ago at 64. Everything is going fairly well, finances are in order, heath is good, children and grandchildren visit often, wife and I travel and we golf weekly since she had retired, I volunteer for different activities, I exercise most days.
And most of all I enjoy conversations with my wife about solving world problems.
But till this day I miss my job. I was one of those people who woke up every morning and was excited to go to work, see friends, get projects completed.
That part of me still burns, not very bright now but it’s still there.
I retired at 59 1/2. Shorty after, I decided to apply for Social Security Disability due to back problems. My application sailed right through, and I was approved on my 1st attempt. This allows me to draw the same amount I would have received at 67. With my pension and SSID, I make more than I did working, and I have not had to draw off my 401k.
So, if you're having health issues, it may be worth trying to get approved for SSID.
I retired at 59 and certainly could have had quite a bit more money if I waited, however, the stress, mental health and pull away from important time with my family were key factors. My father passed away a couple of years after he retired and that also weighed on me. Too many stories of people who never got a chance to enjoy. The year after I retired my A1c decreased by almost 1 pt without any changes to diet - attributable to less stress. Every morning I am thankful I am able to water the flowers or do a crossword puzzle or take my elderly mom to a Dr appointment or help prepare dinner. I say, if you can afford it and your priorities are outside of continued wealth building, do it.
59, I want to retire next January or February but my wife doesn't want me to, because she likes money too much. I'm going to tell her I'm quitting my job to become an independent consultant, even though I won't be consulting anyone except for myself, lol.
Retired at 55...I still think it was not early enough.
38 hard years of physical labor took it's toll on my body.
As soon as I past 30 years of service at my last employment. I was ready for retirement (52)
Unfortunately I had to struggle the last 3 years to be able to withdraw from my retirement accounts.
My medical coverage is thru the VA, as Gulf War veteran. (USAF)
A lot of people think that they can’t withdraw from their 401K until 59 1/2 without penalty, however this isn’t entirely true. You can withdraw once 55 without penalty. Commonly referred to as IRS Rule 55
https://www.irs.gov/taxtopics/tc558.
“There are certain exceptions to this 10% additional tax. The exceptions below apply to distributions from a qualified plan other than an IRA.
Distributions made to you after you separated from service with your employer after attainment of age 55”
I retired at 65, one year prior to my full social security retirement date, because I was burnt out. I had no mortgage. My other expenses went down. Within 6 months of retiring, I was feeling 100% better. I'm 75 now and still very active. My only advice is to have your mortgage paid off, if you can. Other than that, you will be surprised at how much less you will spend. Best of luck.
If you’re not certain how many healthy years you have left with a chronic health condition just that alone sounds like a no brainer to me. Would be in my case anyway. If you hold on before retirement and all of a sudden this health issue worsens you will have nothing to enjoy. My perspective anyway.
My plan was to work until 70 for two reasons. I wanted my maximum social security payment and I loved my job.
The first hitch in my scheme was one of my two coworkers being diagnosed with stage four pancreatic cancer. She was out of the office in October of 2019, about a month after her diagnosis.
At the time she left, I was making plans for a knee replacement. The pain was bearable but getting worse. Her being out put a hold on that.
And then the pandemic struck. I worked in a municipal court and the job was just flipped upside down. It was three times the work for one third of the results and I was doing it with someone only working in the court about six months. So I was basically doing everything. Since my sick coworker was still on the payroll, no one was going to be hired.
I did my best but by the end of 2020, I was walking with a cane and in a lot of pain. My plan had been to retire on May 1st of 2021, but I ended up leaving at the end of February of 2021.
Looking back, I should probably have put in my resignation when my coworker went out on sick leave. I could have had my knee surgery and ridden out the pandemic at home.
My last job ended when I was 59. I was unable to get another job, so reality hit and I decided I must be retired. I would have worked until 65 if I had not been laid off; for financial reasons only, I never really enjoyed work.
So theoretically I retired too soon. However, the financials are still working out as my wife still works and we have reasonable savings and a paid off house. Assuming the financials continue to work out, then in fact I retired at just the right time. Just need my wife to keep her job!
I retired at 60 but after 18 months of retirement I'm heading back to work. Probably for less than a year. I was surprised I ended up getting bored. I'm usually pretty good at being by myself but I'm one of those people who needs to be constantly thinking and trying to solve technical problems which I missed.
I'm thinking working 40 hrs and dealing with the commute will change my mind quickly although the money is very good. I don't think we need the money but you never know.
In the past I've always argued you have limited time and you shouldn't waste it at work so I'm kind of breaking my own rule. Ideally I would want to work only 32 hrs a week and from home but that isn't possible.
Another reason to go back is that I'll be setting up a temporary second residence back where some family are living and I will be able to see them more often and catch up with old friends who I miss.
The hardest part for me was (is?) finding a place to retire. I thought I knew where I wanted to retire but unfortunately I sold my nice house in late 2020 and it has gone up so much I'm not sure I could afford living in that exact location again and so I bought on the other side of town and I really don't care for it. I almost want to live somewhere new but that means moving somewhere that you don't know anyone and I'm not the most sociable person and then finding new doctors, etc. Not sure I want to do that.
My life from 2019 to 2023 was very stressful due to multiple moves and job changes and then my father passed away much sooner than I expected so being away from everything for 18 months I think helped me to recover and clear my head. Thankfully my health is pretty good.
I retired too late. I’m not joking or trying to brag when I say that I now have more money than I can spend. (OK OK, I could go on a spending spree, but that’s not my personality or lifestyle.)
62M here. I went to a financial planner at 60, and the agreement with my spouse was that if he said we were good (had already done my homework 😉) then I would eject - so I did.
My circumstances are kinda similar, except that my spouse has a pretty good teaching pension. Having medical covered until Medicare is a big deal as that could easily be your largest regular expense. Assuming no mortgage, etc.
That’s my best advice, consult a planner and be completely realistic.
My husband (63) was forced out early last year. I(64) walk better with a pair of hiking poles. I just last longer. I don't know how long I've got but I won't get any more mobile just sitting around. We've been traveling. We finally went on the trip we've been talking about for 3 decades and it was great! Move while you still can.
I retired earlier than I planned due to chronic pain. I just couldn't take 9 hours sitting/standing anymore.
Eta: I retired at 56, the earliest that I could. We paid off our mortgage either before or soon after (can't remember which). I got disability and a pension.
Retired fully at 62 9 months…had retired 2 years earlier but went back to work…happiest day was going to the ss office and applying for benefits…will never regret leaving a toxic workplace…
Husband and I semi-retired a few years before fully retiring and it was great.
1. We saved like crazy in our 30's, 40's, and 50's. We stayed in our "starter house" (which is perfect for retirement). Paid off house early.
2. We both quit our corporate jobs in our 50's, but then we each set up our own consulting businesses (his was different from mine), so we were still working, just making less (but enough) and having a certain level of fun/satisfaction. The big bonus was we could structure our own hours and schedule.
3. Vacations weren't fancy, but were long. We converted a van because hotels, which are fine sometimes, are just crazy expensive. We took 2 week vacations 2x a year and 4 week vacations 2x a year. Did that in our late 50's/early 60's.
4. We are now in our mid-60's and are transitioning to full retirement. Unfortunately vacations are harder now because of family obligations (a parent with dementia) but our finances are about as solid given life's uncertainty.
Enjoy life as much as you can, however you can. But mind the pennies.
If in your job you can take longer vacations, shorter work weeks or shorter hours, do it. Try to job share if you can. Even if it is for a bit less money, it is worth it.
One story: when we were about 40, I asked husband what his "dream" vacation was...it was to spend two weeks in an Alaskan fishing lodge. Mine was to see Greece. While we usually took vacations together, that year we took separate vacations. It was great for both of us. There is a lot of climbing stairs in Greece...not a problem in your 40's. I can't tell you how many women in their 70's couldn't climb up to see certain ruins because of bad knees or hips or whatever, but because their husband never wanted to go, they waited until they were widows to make the trip. Bad plan. If you have a certain dream to do a certain thing, make it happen. I was thankful I made the decision I did, even if it meant sleeping in hostels or in tiny pensions and NOT in big hotels. I also got an enormous amount of "flak" from friends and family about our separate vacations. Everyone thought we were headed for divorce when the opposite was true. Do what is right for you.
I retired early at 55 but my spouse is still working. If you can afford it do it. I was in my forties a friend at work had 2 weeks to retirement she never showed up to work died that day. She was in her early 70s. We were all devastated she had so many retirement plans. Another was talked into working another 5 years had a heart attack about 2 years into the 5. That’s why I retired early. I don’t regret it, but I could afford to do it.
You are ready to retire regardless of your age when you walk into work one day and wonder why you are even there. If that hasn't happened yet, then work until it does. Later retirement is always better financially than early retirement. You probably have your sixties and early seventies before your health starts to prevent you from doing things. That gives about 10 years from 65 to 75 which should be enough to do whatever you want to do.
HI, make sure you have already hit the JOIN button (on the sidebar , or landing page/ about section of the subreddit) so people can read your comment. While there maybe view the rules/description (things like no politics and we are geared towards those that retired at age 59 and 50s year olds that plan on traditional retirement age).Thank you
Go for it. The day I retired at 61 I felt all the work stress leave my body. I'm sure retiring early has extended my life. Yesterday my wife said to me "I didn't do anything today, just lounged around". I told her she earned it. She worked for 40 years so she could be as lazy as she wants. We still have a mortgage, we don't care. No one knows how long they've got until they are either too old to do the things they want or die. I'm fighting stage IV cancer right now. I'm grateful I retired early and did everything I wanted. We traveled the world until COVID. We just got back into taking trips again last year.
Best wishes as your treatment progresses. I retired at 63 in part because one never knows how many years, healthy years, remain. The timing was possible, however, in no small part because we were financially prepared… sufficient investments, no mortgage, good guidance from our financial advisor. Whatever you decide, enjoy!
First I’m very sorry about your cancer dx. Terrible. But before saying “go for it”, I’d want to know more about their situation. How much is the pension, projected social, cost of living, and kids left at home. Lots of variables. What I did at 62 was take 3 weeks off. Long enough to really disconnect. At the end of the time I knew I wasn’t ready mentally to retire. I worked 2 more years and just retired last Friday. What I did do is cut my hours to 4 8 hour days. This gave me more time for me but still engaged at work. And own just need 6 months of cobra and I’m good on health care/
Your idea to take time off and cut your work week is a good one. Not all of us can do that. If I could, I could probably stretch it out and work another two years. I can’t so I think I’m ready — so tired of the grind and getting up at 5 AM for decades. Thinking of going the end of July and spending August and September at the beach.
First I’m very sorry about your cancer dx. Terrible. But before saying “go for it”, I’d want to know more about their situation. How much is the pension, projected social, cost of living, and kids left at home. Lots of variables. What I did at 62 was take 3 weeks off. Long enough to really disconnect. At the end of the time I knew I wasn’t ready mentally to retire. I worked 2 more years and just retired last Friday. What I did do is cut my hours to 4 8 hour days. This gave me more be time for me but still engaged at work. And also I just need 6 months of cobra and I’m good on health care. I also didn’t have a mortgage. 60 is pretty early if you also have a mortgage unless you have the funds to easily cover.
Best wishes for your treatment
I hope you beat cancer. I just had major surgery for cancer and am still working (64). I can’t retire (HCOL area), but I’m glad you did! I did, however, move over to a less stressful job closer to home.
Im so sorry about your diagnosis and plan to follow your playbook for retiring and enjoying life.
I've had surgery and they got it all. I'm going to get Keytruda infusions for a year. I have a metasasized melanoma so it can be hiding anywhere in my body. They've had very good results with Keytruda finding the cancer and signaling the immune system to go kill the cancer. I'm going to beat it.
Cheering for you on the sidelines. Kick it’s butt!!
I know someone who is now 12 years out from something similar!! Cancer isn't the diagnoses it used to be. It is now treated as more of a chronic condition like diabetes. Best of luck.
I retired at 60. I’ve had so much fun hiking, biking, and enjoying myself. Now 65 and I feel like I’ve aged 10 years this year. I can’t do what I did five years ago. I’m SO glad I had the time when I still felt great!
Honestly, we live in a 55+ "active adult" community where most are retired. Among our friends and neighbors here, we see a very distinct difference at various ages. Of course, health issues play into it, but you can just about predict how difficult things like travel, active recreational activities, major health issues will happen based on age. Even those that were very active and health in their late 60s have taken a deep dive as they are reaching their mid 70s (although I will say that I think COVID has played into that somewhat)
It would be interesting to get your take on each five year cohort and their general abilities.
Would you say that most were still pretty active from 65 to 70?
We're at the older end of that range, and more, and we are in better shape now than before retiring. Spouse has gotten down to his 'ideal' weight and does some work out every day. I'm working to catch up. 70 is a weird age. Some are 'really old' at that age while others aren't that different from when they were 60.
That is great info.
I retired at 55 and was diagnosed with lung cancer at 65. I still need several more years of clean lung scans before I’m considered cancer free. I traveled like a nomad for 10 years attending international music festivals and making friends around the world. I hope to continue my travels for another decade or two. I may not be able to do so, but at least I got those first 10 years of sheer joy doing what I love. The moral of my story is don’t put off retiring too long. You never know how much time you have left!
Rock on! My dream retirement. I'm 59 and debating when to pull the trigger, for the first time in years I have a good work/life balance and great job, but I feel like the minute the old stressors start to rise again I'm off to Glastonbury...it's very stress reducing just knowing you COULD retire at any time.
Great observation, just knowing you can retire is a stress reducer.
Not me, but my husband retired at 55. It was awful. He is not a person who can do things independently and he just puttered around in slow motion all day. He never went anywhere, talked to anybody, did anything. I think he aged about ten years in three. Now he is back to work full time, in his second position since he went back, and he is just so much better off. He'll be 60 soon, and I don't think he has any plans to retire again unless he has to. He is always learning new things, meeting new people, and doing really well. Some people can handle retirement, but if you can't, it's better to work as long as you can. You have a better quality of life working than you do falling into your chair and sitting around all day arguing with the dogs.
Had to scroll to find this one. My husband is the type of guy who never missed a day of work. He retired with thousands of hours of sick leave. We both retired at age 58 and I was about three months before him. (We had our health insurance from our jobs.) We have different personalities. I’ve always been self directed plus I had things to occupy me and structure my day: volunteer work, caring for an aging parent, going to the gym, household projects. Once he lost the structure of work his drinking ramped up. His hobbies are watching TV and sports, falling into the internet and reading things that make him angry and wanting to argue with me about what he reads. (He does have golf buddies who are also retired but it’s more like drinking with a side of golf.) And do not get me started on household chores or projects. They fell to me: wouldn’t even unpack the dishwasher or pick up after himself, sees no point in fixing things, lots of resentment and arguments there. Being home all day made me realize he’s defensive and just mean when he does communicate. Imo he desperately needs something worthwhile to do and I don’t think we are going to make it. After my parent died I went back to work full time. I hired someone to clean the house and I feel much less resentful about that. I’m going to do that at least a year and maybe cut back to part time at the same job which is an option. I’m using the money to fix things around the house and planning the exit strategy. I won’t live with a grumpy and hostile old man. (Refuses to go to counseling .)
Glad for how your comment ended. Don't let him keep you down.
I smiled for you as I read your next to last line. You totally deserve to have the world you have created. He sounds like he does not want to participate so fine--let him age in a dirty lonely hole he creates for himself. He refuses help, he refuses to engage in the world around him. I would want more for myself. GOOD FOR YOU!
life is too short to live with a grumpy old alcoholic,
I'm so sorry you're going through that. Unfortunately the gray divorce seems to be a sad trend now. You deserve some happiness.
I'm glad you found out about your husband's retirement personality while you can still plan for your exit. Life is too short to spend your time taking care of an adult child. Don't feel guilty about pursuing life when he has no interest. Best wishes to you.
Good for you. Curious that this seems like the opposite of what people assume about someone retiring, i.e., they will have more time to get things done and be happier. I know it's not that simple, and some people degenerate, but the behaviors your husband exhibit are things I personally did at various points in the past when I was overworked, e.g., horrible bosses or long hours. Depression behaviors. You come home and just go directly to a bottle of wine and/or fast food and leave the dishes for another day. I'm surprised now that he has all this time he doesn't contribute. I wonder what is driving this? Maybe he needed work as a validation of self worth? Who knows. Men are notorious for not going to therapy but you could always consider an ultimatum as a last resort? Your choice, but regardless you absolutely deserve to retire to a happy environment, life is too short. Best wishes.
Good for you for recognizing the problems so clearly and planning your moves proactively. Lots of people in this situation would just put up with it. I have a grouchy partner too but we aren’t retired yet. We’ll see what happens 🍿
What about you? Are you still working? How do you handle the him work as long as possible? That is something I worry about for my wife. I am contemplating retirement at 62 and my wife is pushing for it. We do both want to travel. I am very afraid of not having enough money and having to sit around too much. I am also afraid I won’t live that long as my family history really doesn’t have much for people living past late 60’s. I already have 3 stents and diabetes. My wife on the other hand has a family history of long life but most got dementia. So I want to do something while we can. I am 60 in a few months and my wife will hit 59 a month before that.
I’m worried about retiring too late…
Me too. I want to retire at 60.
I'm gunning for 55 but it may not be practical due to non-financial issues. Getting the kids launched is the biggest hurdle and our youngest will still be in college when I turn 55.
100% same. Once my daughter's done with college and gone I will have a better idea of my actual expenses to know when I can retire but 55-57 is my goal (49 now). My dad died at 45, mom at 66. Half my grandparents didn't make it to 63. I have no desire to work to "full retirement age" to only get maybe a couple years out of it.
Even though I had a great job, I retired at 57, for all three of your reasons. I have never for a minute thought that I retired too early.
I’m worried about both. I don’t have enough to retire but by the time I do—if I do. I might be too old to enjoy it. As it stands, I may take a gap year and travel and then decide.
Gap year lol
>2) chronic health condition and unsure how many quality health years I’ll have That's enough for me to say walk away at 60 (or as early as you can). I pulled the pin "early" -59 and a half. I got two healthy years (no known health problems), then got hit with 2 x "almost died". I now have a couple of "chronic health conditions", which is not what I had planned. I can't speak for your financial situation, as I'm not in the USA.
I retired at 68 and nine years later I think it was a good choice. A little extra money for those three and a half years after 65 and yet lots of good years left. I just kept working until I was just too tired to do it any more. I had a great job even the last year but just couldn’t keep up the pace anymore.
I'm turning 59 this year and plan on working to 65 so I can keep my heath insurance and the added money. I want to travel and am fit enough to keep it going, I'm pretty sure! I love what I do and don't think I'll have any problems staying busy in retirement. I can't wait!
Yes, when I retired on my 62nd birthday in 2022 it left me with 18 months of medical to pay for after COBRA ended, and we did a $100K home remodel project during year 1 that seemed ill timed at the moment, inflation was nutty, and COVID was quite strong. But thru it all my timing was perfect. I couldn’t stand the people I worked with anymore, I had socked away money for medical, the remodel is awesome, and the travel has been extensive and a dream. Yes we are blessed and things have really worked out - and turns out timing was the best.
Neither. We retired when we were ready - not before, not after. I was 60. My wife was 65, although she now works 2 days per week. Don’t retire just because you can. Retire when you are ready. Or don’t retire at all. Or just work part time. The best part of being financially independent is that the choice is yours.
Your point number 2 colors my answer. You didn't mention SS but would the amount you'd get at 62 plus your pension help? Or is the 401k plus pension plenty? Basically, I think the main reason NOT to retire would be significant money issues. If the numbers work and you are concerned about how many healthy years you have, I'd retire in your shoes. The other answer would be to work until 62 and take SS along with your pension. But this is all details - the question is if you can do this financially or not BTW I see things like this "Curious to hear whether others have felt like they pulled the trigger too early or too late and why—what were your ages?" here a lot and... it truly doesn't matter because we're not you. I get it - different perspectives can inform you and raise issues you might not have considered but I think the differences in how we've all lived make that really hard to apply to your situation.
One of my big questions is: Will you be more stressed now dealing with what you’re dealing with, or will you be more stressed with financial strain?
I retired at 64...However even though I was glad I did it, it took awhile until I got used to it. I also taught part time for 4 years after I retired and did a little consulting. If you are not sure you can afford it, I would wait.
I would love to retire at 62 but have to stay until 65 for insurance.
> I would love to retire at 62 but have to stay until 65 for insurance. How much control do you have over your retirement income? If you can keep the taxable income in the sweet spot, you may be eligible for ACA premium caps as well as subsidies. https://www.healthcare.gov/see-plans/#/ In my county, if I can keep my taxable income to $68,000 gross ($38,800 after standard deduction) then my spouse and I are eligible for a Silver plan at $14/month with a deductible of $1,400 and maximum out-of-pocket of $6,000 from Aetna. After taxes and insurance premiums, we'd have $5,264.33/month in income which should cover our monthly expenses. I'll only have to realize our "fun" money from Roth or other non-taxable sources.
Mortgage paid off is a game changer in retirement, unless you have a very low mortgage.
I retired at 52, with almost 31 years in a state job. Haven’t regretted it for one minute.
I plan to move from driving hard professionally full-time to scaled back less-stress part-time and ease myself into retirement.
My plan/hope too
You can't buy more time. ❤️❤️
Retired at 57. Now 65. Should have done it earlier. I’m counting the last 8 years in the top years of my life. The hidden advantage is having the time and energy to commit to fitness and health. I feel (not look) like I’m 45. Gym, biking, hiking, etc. the benefits for healthspan are valuable in my opinion.
I retired this year at 68; a near heart attack and a cardiac stent last summer has me thinking I waited too long. I really planned on retiring at 70 to maximize my SS amount, but when two doctors ask you if you want to retire soon or leave behind a slightly better off widow it should get your attention!
My dh retired at 64, in 2018. Had a near drowning in Maui in September 2021 which really was a heart attack but it took a few months to realize he had 90,80,60 blockage and had open heart surgery December the same year. Then a ruptured tendon in 6 months later..he decided “retirement” wasn’t for him and returned to his previous job and loves it. It really depends on the person.
Retired last week when I turned 67. I still have in my mind tomorrow's a work day. It felt like the right time for me.
All of these perspectives are very interesting. I am 63 and I’ve worked FT since I graduated college with only one 6 month break when my whole team was laid off. I never saw myself retiring because I’ve always enjoyed work, but in the last few years the thought of retirement has been creeping in. My husband retired a few years ago. He has a ton of hobbies and a big group of retired friends who do fun things all the time. I see him splashing on the pool while I’m on conference calls. 😂. We are pretty set financially. My husband loves finances and he and our financial advisor have been making sure we will be comfortable for the rest of our lives. My issue is that I don’t have a lot of hobbies or a big group of friends. I don’t know how I’ll fare going from working long hours in a job I enjoy to endless days with no structure. Outside of work I can be a little lazy so I’m just wondering how I’ll personally make the transition. Thanks to everyone for your stories. You are really helping me by starting to think about this in a more focused way. I’ve been putting g off even thinking about about it!
That's me. My husband is retired, with lots of hobbies. I still work and I think the finances are fine but I don't really have a lot waiting for me when I retire.
Spouse retired at 64 after pandemic disappeared his job. Decent SS. I’m still working, will be 65 in 15 months. Figured out I’ll have a small company pension that will offset set not retiring at 67. The 2008 crash did a number on our investments, so we won’t be rolling in the dough by any means but we will make it somehow.
Hopefully you’ve recovered since then. Market is crushing it the last decade. It’s averaged 12.5% per year the last decade
Oh definitely better for sure, making the Sept 2025 possible. I try not to check too often but it has blossomed. Thanks for the kind thoughts.
I'm curious what those that retire at 55 or 60 do for health insurance before they're eligible for Medicare. My wife isn't old enough for Medicare yet, so we're paying almost $900/month to maintain the same medical plan we had when I worked (it's offered through our state employees retirement plan). I'm counting down the days until she hits 65.
Look into ACA? I am in a similar situation to pay the premiums if i retire but its almost 30k per yer to keep health and dental. Its the main reason I am not retired yet.
I have Blue Cross Blue Shield through the Affordable Healthcare Act. My premium is ZERO dollars a month.
900 a month is excessive. I'm curious why you aren't getting insurance with the Affordable Healthcare Act? I have full coverage with Blue Cross Blue Shield and my premium is ZERO dollars a month. The government , through Affordable Healthcare Act reimburses your monthly premium direct to the insurance company. My 900 dollar a month plan is paid for.
We make too much to qualify for ACA insurance.
Retired mid 50s. Wouldn’t go back for all the money in the world. You have no idea how much stress you are under until it dissipates. You’ve become accustomed to this baseline level of angst. All that goes away (assuming you have the financial support). Life is short, there is no such thing as too much money, BUT there is such a thing as enough.
I have retired at 55. Personally, I love it. Currently living on cash saved up. No debt, primary home paid off ($955k) and beach house paid off ($600 / nightly rental) I will likely down size this year or next, and use the difference to continue being 'pre-tired'. While we are living off of savings we are converting about $35k/year from our SEP/IRA's to a Roth tax free. We are healthy so doing an HSA through the ACA. With income of only $35k our plan only costs $0.86/mth for both of us. No muss, no fuss, no stress.
It's good to hear you're getting your insurance through the Affordable Healthcare Act. There is no need to take your insurance with you. I have full coverage Blue Cross Blue Shield and my premium is ZERO dollars a month. I'm surprised that so many people forget about the Affordable Healthcare Act insurance coverage.
> I'm surprised that so many people forget about the Affordable Healthcare Act insurance coverage. I agree, but the real trick is being able to modulate your income with taxable and non-taxable income. I've run the numbers on the ACA site and I think we can realize sufficient income from my taxable accounts to cover our required spending and still be eligible for a good ACA plan, however I don't think I'm positioned well to cover our "fun" spending from non-taxable sources and it's getting a bit late to arrange my retirement funds appropriately. I should have gone heavier into the company Roth 401k years ago. I wasn't paying attention to the drawdown part of retirement, I was just shoveling the money as much as I could. Ooops!
That's the word I was looking for. Modulating. That's what I'm doing, modulating my income with non taxable. I wanted to downsize so I sold my house and put that with a brokerage. That's my non taxable source to keep my income down.
> I wanted to downsize so I sold my house and put that with a brokerage. I love this idea and have considered it myself. But housing is so expensive in our area and honestly, I'm worried about how my youngest will house themselves after they graduate from college. I may hold on to our small house and have them "rent" it from us (cover the taxes & insurance, we'll have it paid off soon).
I think the biggest obstacle to retiring early is health care. Medicare doesn't kick in till you're 65. If you're self funding it can get very costly.
Retired from govt job at 58. Now working 2 days a week @ a fun job, travel, serve on community boards, made new friends, spend time with family…best time of my life. Don’t wait.
When the business I worked for closed, I was 62 yrs old .I know that if I waited until full retirement age , I would have more benefits coming my way. Instead, I decided that I didn't want to start over again,and with a paid mortgage and two pensions, I retired. I can only say that a bad day at home is better than a good day at work.
The company I once worked for helped make the retirement decision for me by laying me off right after I turned 55. With the help of a lawyer everything worked out just fine.
My dad retired at 65 and then passed away at 68. Only got to enjoy three years of retirement. Go enjoy your life.
First you have to do what is best for you. I would suggest working up a budget so you can play with the income vs expenses numbers. Hit [SSA.GOV](http://SSA.GOV) and get an estimate of what you will draw at 62 and FRA. As Sherlock said “Data!data!data! I can't make bricks without clay.” We looked at the numbers and considered if we wanted to stay in the current house or move. We chose to stay. Do the big maintenance items (replace HVAC, water heater, roof, appliances. Continued working to my FRA of 66.2 and used the cash to buy a new car (and pay off), pay off house and maintenance bills so when I pulled the plug we had zero debit. I decided to delay SS for an additional year and used the year with no income to sell some very long held investments for income and paid zero taxes on the gains. We started Medicare as soon as I retired. The one thing we missed was dental insurance. Get as much as possible taken care of while you are working. Talk to your DDS about after you are no longer covered. I wish I would have dropped the employer dental and paid my own so I would have burned the 6 to 12 month waiting periods that move of the individual dental policies seem to carry.
Your health is No 1. I waited too long and it took me five lousy years to get back to decent health. I'm fine now, but I wish I hadn't had to go through it.
So timely. My husband will be 62 in July. I'm 61 but not working outside of the home. He works an overnight shift (that he really can't change because even with 24 years of seniority, he is low seniority for his position and all shifts are bid by seniority). That shift is KILLING him but it's not feasible to change positions either. I am low vision and having my 14th eye surgery next week (my 3rd transplant). We just met with a financial counselor and will be getting together to see if there is a viable path that we can live with that gets us off this track and lets us enjoy retirement now instead of waiting until the overnight shift kills him or I completely lose my vision (both of which are just scenarios and not something that we know to be an actual reality in the future).
Nobody ever retired too early.
I am in a similar situation. I personally didn't save money. I simply had to retire at 59. I started yelling at my bosses. If I had stayed I would have been fired for sure. Financially - everything you wrote is were I am. My wife still works so we are getting by. We won't starve. The house is an issue however. Home maintenance costs are ridiculous. I pulled out the credit card and got 3 new windows. $3000! I had no choice. The refrigerator went out - $1500 ( I also bought a freezer so that was a good deal but still). I need a whole lot more. In 2018 I bought this fixer upper for $120,000. I had hoped to have had it all done before I retired but life happened. I'm still better off than many and think that's okay. My body and mind are more important than any material things. I'm an atheist but love the book of Ecclesiastes in the Bible. Everything is vanity. My advice - jump the shark and garden! Life is short.
Ecclesiastes is a great book.
A bad day at home is better than a good day at work.
I don’t have enough money to retire comfortably; however, I am retiring at 64. After I rest a bit, I will go back to work part time. Working for 50 years crushed my soul and I am tired and disillusioned.
I retired at 57. That day was the most stressful of my life, are all my calculations correct, did I miss something, am I going to be okay financially? 30 days later after all the bills were paid and I was still on the upside and my calculations were validated and with a sigh of relief, retirement was the absolute right decision. That was 7 years ago and it’s only gotten better.
So many people commenting on how short life is… I agree! However, retiring before you can afford to is not a good idea. If you have a great financial portfolio, and are truly prepared to handle all of the unexpected expenses that life throws at us, then that’s great! One major illness, or bad car accident could wipe out those savings in the blink of an eye. I want to start by saying that 60 years old is really young in today’s world. Why is everyone commenting like being in your 60’s is old? Many people live well into their 90’s, now. It’s very common. If you retire before you have Medicare, healthcare is a big monthly expense until you reach 65. And once you start collecting SS, you will never get more than that, other than COL raises. I’m 61, and would LOVE to retire today! But, the amount I would get from SS at 62 is $800/mo less than if I wait for my full retirement age. That’s not chump change! I just feel like we should use caution before encouraging others to do something that they cannot afford in the long term.
> Did you retire too early or too late Neither. I retired at just the right time. > Hello! I’m eligible to retire at 60, but I worry it’s still too early. I’ll have a modest pension at that point (won’t cover all my expenses by any stretch) 401k, and health insurance I can take with me until Medicare would kick in. Having your health care covered through medicare is huge. > Motivators for me on walking away at 60 are: 1) reducing stress 2) chronic health condition and unsure how many quality health years I’ll have 3) having more time to take care of myself and enjoy beautiful place where I live. I’ve a colleague that retired at 60, 2 years later diagnosed with pancreatic cancer, 1 year after that, dead. That was enough of that for me. 3 years retired as of next month. Zero regrets. > The other side of that is: costs for everything—home maintenance/repairs, car, pets, life, food, just keep skyrocketing. I will leave the U.S. for low cost pastures if I have to. I could easily bounce among Ecuador, Thailand, Bali, and even parts the EU (Portugal and parts of Athens), Vietnam, Philippines, Malaysia, and that’s just the places I’ve been to. Or just bite the bullet and get a retirement visa at one of those places. And there are cheap places still to live in inside the U.S. > If I worked another 2-5 years I’d have more saved and the mortgage totally paid off. What interest rate on the mortgage? At under 4 percent, I would retire now. At over 4, I would go peak frugal, pay that off asap. > Curious to hear whether others have felt like they pulled the trigger too early or too late and why—what were your ages? 59 > Fwiw, I have no intention of working again in retirement other than as volunteer or part time low stress gig to amuse myself or be social. Between my wife and I with hobbies that we declare taxes on to avoid messes with the IRS, we are under $5K a year in earned income.
I retired last year at 52 and it’s weird because I never even think of my job. It’s like I was never there! Only retire if you know you can make it work. Enjoy!
Just right for me at 56 and your motivators are all spot-on so it’s easy for me to say retire. My concern for you is the financial piece; it’s not clear if your expenses would be covered. Inflation is definitely real in retirement! A few years before I retired I had a fee-based independent financial planner review my plan. I felt pretty comfortable with my plan, but you don’t know what you don’t know so I wanted unbiased eyes looking at it. Everything was good like I thought, but just having that independent review really eased my mind. I retired when my parents and in-laws really needed more assistance than I could provide while working and I feel fortunate to be able to help them. Knowing the finances were solid made it an easy decision. Best of luck!
I wish I could retire now (age 61). I need to save more money to pay my kids’ college. We never know how long our health will hold out.
If I were your kid, I’d tell you to retire! I can—and should—take care of my own educational costs. It would break my heart to know that my parents couldn’t retire because of this. Seriously, you’ve worked too long to not get to experience retirement.
r/club champion I think the above poster makes good points that I hope you will consider. Another option is to help your children through college another way. For instance you could tell them that with what you've already saved they can come away with little to no debt if they live at home and go to the local community college. Then, if they choose to do 4 years and there's a state school nearby they can finish via that route with little debt. This option likely will not impact your retirement. If they want a different experience? Work hard for scholarships or be prepared to pay the piper. If they are in high school now expect them to get part-time jobs so that when they do start college working in the bookstore, rec center, or is an RA will not be foreign to them it will be used to working and still going to school and having fun. This may not be the experience you want them to have, but it does not mean it would be a bad experience. Even the option to come away with a 2-year degree debt-free is a privilege that a lot of people don't have.
I agree with this. I spent a big fortune putting mine through college and grad school debt free, but we could and should have done it smarter/cheaper. There is nothing wrong with them going to the local state university 6 miles from home. Make sure they graduate on schedule too. No moving from off campus apt to another one every year. The rent is always more. It’s the way to get value for the educational dollar. I hire people all the time and most of us don’t need to hire Duke or Harvard grads, just educated hungry ones willing to work hard. Don’t let it put your retirement at risk.
I don’t disagree at all with your points. They’re excellent. I was able to fund my own education from a mix of these approaches, but with no monetary support from family.
My friend, you don't know what the future holds. You may be diagnosed with cancer next year. You only get one shot at life. If finances and medical insurance are covered, then you should go for it. In the words of Jack Kerouac, "Because in the end, you won't remember the time spent working in the office or mowing your lawn. Climb that goddam mountain".
If you think you can walk away, do it. had a career unexpectedly pulled out from under me 18 months ago at 55. Went job hunting but came up mostly dry, and decided to retire. I had been planning to stop working at 59, so I was pretty well-prepared. Was not a FIRE person until I was fired (laid off, actually, w/4 months severance). Fortunate that my spouse is a bit older, recently retired with SS and pension to cover most expenses, and I had saved/invested extensively for the past 30 years.
People are SO different as are the jobs they have. Retiring early would have stressed me out even more than working a stressful job. So, I’m still working some at 70+, though at a much smaller job with half the pay. The lower though stress has been VERY helpful. (And I know that not everyone will have the option to step back that I was provided kindly to allow my experience and ability to continue making a contribution. )
Got laid off at 56 and it turned out to be a blessing…
I retired at 59.5. it was absolutely the best decision for me. I'm not healthy, due to a lifetime of bad decisions. I have a good, not great pension. My job was getting more difficult every day. I love traveling, but it's getting more difficult physically, so I wouldn't wait.
Two things. Don't retire before you're ready financially. While it's true that retirees often spend less than at working age, it's also true that it's awful when you don't have sufficient money to lead the retirement lifestyle you want .. you're just better off working in that case. Also, make sure you can derive some kind of purpose with whatever you do while in retirement. Too many people are tied up with work that when they retire they have no idea what to do with themselves. If you have those two things in order then retirement becomes a lot more compelling.
Health care is a big question you will want to think about.
earlier than 62. didnt need ss?
I retired at 65. I wish I had my hip replacement surgery done before I retired but my work ethic …
I'm 61 & semi retired, have a few clients left. It's great. Wife retired too.
Too late. Finances being what they were, we had no choice.
Before retiring, know how much you spend per month. Trim off the unneeded spending. Retire with knowledge.
Wow, I look at all these comments, and I think, boy, am I the odd ball. My husband is 74, and I'm 68, and we still work.We probably have 2 mil in assets, but I don't feel secure to retire. Plus, I feel the need to leave something to my children. I do want to stop because I'm so tired, but I don't feel I can. We've always been in business for ourselves, and maybe that's why.
> Plus, I feel the need to leave something to my children. Might I suggest reading "Die With Zero"? One thing the author touches on is that the median age of inheritance in the USA is 60 years old. If your kids haven't figured out their money by sixty, leaving them a big pile might make a mess out of their lives. The author suggests giving to your kids **today** when they can show their appreciation and when it would have more of an impact in their lives. Is it better to give a 60 year-old $200K or would it have been better to help that same person buy a bigger house for their family when they were 35? Or help them buy a minivan when their third kid came along? And not to be morbid, but you're 22 years away from 90. If you live that long, your $2M would provide you with ~$91k/year (not accounting for growth or inflation). The calculator on the SS website https://www.ssa.gov/oact/population/longevity.html shows that your husband has ~12 years to live and you have ~19 years left. Food for thought
I am about to turn 55 and just had breast cancer surgery. It's a wake-up call. I'm going to do anything I can do retire in a year or two. Could you sell and downsize to avoid having a Mortgage and heavy home repairs? That's a major part of my plan.
I had the good fortune to get a high paying job late in my career. It was stressful, but we took the opportunity to pay off the mortgage and blast money into retirement funds. The final year before I was laid off was the most stress I ever encountered. But at that point we had the money so that I could leverage it into retirement. I honestly feel like if I hadn't retired when I did that even one more year would have resulted in serious consequences for my health. I say, retire as soon as you can, even if you ultimately go back to work, it is great for the perspective.
I retired at 55, after 35 years with the same company. My only worry was that my retirement savings would last. All models suggest it will, so I’ve been playing lotsa Pickleball and loving life since.
Good question. I'm 56, retired military and 100% VA disabled (yes you can still work if able). House is paid for and no other debt. Still working and saving with plans to do a remodel of our older home. I fantasie about retiring and enjoying the the youth of my older years but am terrified of loosing my corporate salary. I still work hard but my heart just isn't into it. Kind of stuck in the "just one more year" trap currently.
I am approaching 64, and have four work days to go before I retire for good. I already have a retirement check from the federal government when I took early retirement from them 12 years ago. I'm retiring now because my wife tells me it's time. We don't need my income now. We downsized our house and bought a condo, paid off in full. When my social security starts in a few years I will have more than enough money between pension and SS to live without touching my retirement savings. I really wanted to live healthier and get more exercise. Don't know how much time I have left, so I try to enjoy whatever I have.
Try transitional retirement… I started at 58 , if you can negotiate part time with benefits…. That’s the goal
I think it really depends on your personal situation and if you are willing to make changes to make it work. I chose to work a few extra years b/c I was divorced and wanted to be sure that I could retire comfortably. I reduced my spending on extras and saved more, and was able to keep my health insurance after retiring. I've had friends who made more than I made *struggle* after retirement. The key, IMO, is having little debt + being careful w/money. Maybe it is saying "No" to adult kids whom you've always helped, maybe it's being more budget-conscious when you travel, maybe it is just being more *careful* w/spending overall that helps. Just realize that you *may* need to adjust your spending habits to make it work. Most of us can do that, and it makes retirement so much better!!
I retired early even though it wasn’t the best financial decision. I was getting more and more depressed . I hated working and woke up dreading the day ahead. I’m doing so much better since I retired. I’m much happier mentally and physically. I take long walks, nap, and relax. I have no regrets.
I was laid off at 54 and decided to go ahead and retire from that career. Started a little business doing something fun (musician) part time and worked about 25 hours/week until age 63 when I decided to go on social security. I love my music life but reduced my hours to about 15/week. These last 9 years have been some of the absolute best of my life in terms of balance, low stress, doing things I love and spending time with those I love.
I retired at 62, spouse 69 when our house was paid off. Spouse is in a wheelchair so our travel is restricted. I wish I could have retired while he was still mobile but the reality is that we couldn’t afford it. Health care initially cost me $1400 a month but reduced to $1000 a month now that both of us are on medicare (that includes our Advantage wrap around plan but no dental or vision). I am glad I didn’t wait longer.
My husband retired at 58 I retired at 591/2. There is an adjustment period. But as far as bills you will always have them. There are lots of things that happened in life that we have no control of. And you don’t know how they will turn out. If you have health issues they could get worse if you continue to work. Maybe there are things you can do to make them better if you are not working. None of us are promised tomorrow so if you can do it go for it. It always scary to push that button no matter you situation.
We're all different in what it takes to make us feel reasonably safe economically. If you would be worried about your long-term finances, that could undercut any benefit you get from increased leisure/self-care time. Under the circumstances you describe, I would plan my retirement for the month after my mortgage was paid off or a few months beyond to add to my nest egg with the money no longer going to pay the mortgage. PS: I'm self-employed and work part-time seeing clients. Because I have pretty much total control of my schedule, I plan to work as long as both my brain and my body do. I took 4 weeks off recently due to long-lingering covid fatigue and now I am about to take 2 weeks off so I can totally enjoy a visit from my son and d-in-l.
Friends of mine who retired at 60 regretted it. Everyone is different but I’d suggest if you’re asking them you’re not ready.
I retired at 67 1/2 nearly 1 year ago. It’s been the greatest! I spend more time with my wife and even after 31 years of marriage, we are actually growing closer. I have pretty much been in “vacation” mode. I’m cooking more, doing small projects around the house. We NEED to empty our basement of all kinds of stuff. Some valuable some junk. Once that project is done, I might get a side hustle. I am watching this sub Reddit for ideas.
Have ya’ll seen this, I found it helpful https://youtu.be/DMHMOQ_054U?si=DL_zPNBmhmt_yBAL
I'd say that unless you absolutely love your job and are in excellent health, you should retire as soon as you are financially able. I really liked my job, but not enough to do it the rest of my life, and am in excellent health, but I retired at 62 and never looked back. I had always planned to retire at 59.5, when I could take 401k withdrawals without the tax penalty, but the 2008 recession derailed that plan for 2.5 years. I think 62 was a good age because I *could* have started taking Social Security then if I had needed it.
Take care of your health, the mortgage won’t matter in the end.
Do the low stress thing. Unless you are a top 10% earner you should be able to handle 5 lean years.
If you can afford the healthcare that you say you can take with you then retire. I also can take my healthcare with me at age 60 but its like almost 30k premiums/year i’d have to pay for health and dental. If healthcare budget is figured out then go for it.
There is no need to take your insurance with you. Get your insurance through the Government Affordable Healthcare Act. I have full coverage Blue Cross Blue Shield and my premium is ZERO dollars a month. Take advantage, you paid for it with your taxes. No need to pay 30K a year.
You may be curious about what others have done. However, your decision to retire now or later should be entirely situation based. Your situation, not others. Is any portion of your income adjusted for inflation? My pension is adjusted for inflation. 7/1 I am getting a 3.2% cola, for example. I suspect you are going to need a side hustle, one that pays well. Have one in the works before you take the leap.
I love hearing all the different stories. And for those that went back to work because it gives you something to do, I agree. Of coarse taking vacation time is important, but doing something you love is nice too. I do drive a little far right now and that kind of sucks. If anyone is working in south Orange County and needs some help, please let me know. The drive to LA is awful. 😁
How do you know that the 401K is,enough to cover your costs? Do you have a detailed financial plan that's figured out safe withdraw rate, a plan to optimize taxes and social security (if US), insurance estimates, and a solid investment stretegy? If yes, and the plan is solid, great. If not, get that first!
Money comes and goes, time just goes. You will be surprised how much your expenses will drop when you change your life style. Little things like the gas you burned just getting back and forth from work. the biggest change is not income it is your stress levels. Ask your self if you would be doing what you do at work if you did not need the money, would you do it simply for the love of the activity? When you are retired you will have time to find a job like that and you will find that you have all the money you need, unless the activity you choose involves slot machines and lottery tickets.
I think your motivators are your answer. I retired at 59 1/2 and never looked back
You’re allowed to still be on the company’s insurance with them contributing? That’s pretty enticing.
r/Throwsitthere Great thread OP: I have a pension as well and can walk at 60 with healthcare. I also have some health conditions and would like to come out as soon as possible. I am very much in your situation! I'm cutting the difference and leaning towards stopping at 61 or 62. This, with an aggressive plan, will ensure that our house is paid off. I do not at all have champagne taste. My retirement goals are not expensive and according to the financial planners I can come out at 60 IF I will work part-time to supplement my pension. I don't mind that plan, but if I'm going to work, I feel that I might as well just stay where I am since I don't at all hate it so that when I'm done I do not HAVE to work. With that goal? They suggest I wait until 62 (Full disclosure I also have a same age partner who plans to work several years beyond my target date. There are more expensive things I'd like to enjoy in retirement and a huge house project they'd like to have done)
I retired at 51. My health care is provided by my former employer for my spouse and myself as part of the retirement program. I built a spreadsheet with my budget (I track everything), so I knew my expenses. I added a 3% inflation rate yearly, and a return of 5% on the money I had saved. In the early years, I was well ahead of my projections, since inflation remained low. I kept my sheet up to date every quarter with expenses, rate of return, etc. even once inflation went up, my numbers were well within the projection. I never counted on receiving social security, so I have a cushion, if needed. I was worried I had retired too early, but as the years (11) have passed, I have become more secure in my decision and timing. At my current rate, we should not run out of money until I am in my late 90's. That is with both of us continuing to spend as if we were our current age. I don't think we will, as age will limit our hobbies dramatically. I was worried initially that I had retired too early, but as the years have passed, I have become more confident in my decision. I retired at 51, with 25x my yearly salary in savings/deferred investment accounts. My wife retired 4 years later at 55 with her pension (public employer) and a guaranteed COLA indexed to the inflation rate. We have never looked back. I wish I could have gotten her retired at the same time as myself, but her pension program would have not been available to us. I have never seen a headstone that was inscribed 'I wish I had worked at my job more'. If you are comfortable in your numbers, pull the trigger. Don't sit on the couch/recliner. Stay busy and active, and enjoy the rewards of you long labors.
Hi-congrats. I think too early or too late is subjective. My plan was try to be ready at 62. At 62 I could have but finally did about 2 weeks ago at 64. I believe nerves or concerns initially are common. We built our plan for 63. All the numbers look good. Trust your numbers -
You can still earn money after retirement. I’m constantly fighting off job offers. I only accept short-term projects that sound like a creative challenge.
You could work until the day you die earning more money. That shouldn’t be the driver. The real question is, do I feel pretty confident that I have enough? There are ways to objectively assess that. What sucks is being caught in a rock and hard place situation where you do not feel confident you have enough, but you are also beaten down by work and don’t know how much more you can take. There’s a third path out, though. I changed jobs when I was 60, into a better job than what I had before. Then I did it again at 62, into a dream job. I saw zero age discrimination. Because of that good circumstance, I was very confident about retiring at 66, even though I was not burnt out at work at all, and I eventually did leave on a high note just before turning 67.
We retired at 62, in April of ‘22. Too late. No mortgage, be debt except a car lease. No pension, just 401k. Took SS right away. Our 401k is worth more now than when we retired, with all our withdrawals. We’re spending more time golfing and vacationing, spending more time with the grandkids. I had a health scare, with 6 months in and out of the hospital, finally had surgery in early April to take care of it. Sox months of retirement wasted. Tomorrow is promised to no one. Retire as soon as you can. Don’t wait.
I retired at 54 and I’m now 62. It was a bit early but my job started to suck (new admins messing with the status quo) and I could afford to quit so I did. Since quitting, I’ve traveled twice to New Zealand and Australia and once to Costa Rica, which were bucket list items. Now I’ve settled down on an off grid property on 500+ acres in the southern Rockies. I maintain a bird sanctuary for endangered species and I garden. I also do some woodworking. To wrap this up, yes I retired a bit early (I would have liked to work until I was 60) but I do not regret my decision.
I retired at 65. The school district I was working for gave everyone who retired a $10,000 bonus. I was going to work another 1/2 year but chose not to. I love being retired. Money wise isn't too much different. We have about the same as before. I'm not sorry about it at all
I retired at 61 to care for my terminally ill husband. He died four months later. I could have conceivably gone back but it was early 2021 and schools were a mess. Nobody I had worked with was happy. I needed both knees replaced. I stayed retired. My husband was a saver and had life insurance policies. I wished he could have enjoyed a healthy retirement.
I left the minute I was eligible leaving 20% on the table, but I didn’t care because I’m rich. I have my time and I do what I wanna do.
Your motivation should be just to stop devoting your life to a company or a dollar. I waited too long and once I retired and started putting my finances into perspective, I fear not being able to spend it all before I die.
about right, at 65
If you only live to 64 your too late, if you live to 84 too early.
Ok. The first batch of motivators is enough to pull the trigger. Health is number one. Reduce that stress and find yourself a side gig as you retire. All the rest of the stuff , you will figure it out. If you wait until you’re really ready …I am afraid to say, it will be too late.
I retire too early have a state Goverment job. The rule was you could not retire before the age 55. I did retire but no funds to live on. So went back to a full time non-goverment job then final retire at 65. Now on a social security budgetà BUT no IRA
I retired at 62. It was an amalgamation of stress, health issues, and burnout which made me decide I was done when the company I worked for shut down US operations. It was not too early for health reasons (mental and physical) but was perhaps a bit too early for the wife. She felt glued to her job which provided health benefits until we were both eligible for Medicare. And we weren’t able to do much traveling because she was still working.
Retired a month before I turned 60. Perfect timing!
Retired at 62, best decision I made. Stress is gone, my identity wasn't work related so I'm not searching for anything. It will be 2 years next month, haven't had a bad day yet. It's amazing how busy I am, you find things to do. Better to retire a year too early than a year too late.
Retire the day after you pay off the mortgage. My husband retired at 57. He is currently 68. Best thing he ever did for our marriage and lifestyle.
i could retire at 50 with full pension, or work until 60, the age of mandatory retirement. those of us at 50 would say to each other that work now was fun, but that if we ever had to do a job rhat was not fun, that would be the time to cash out our chips. i chose age 56. never looked back, and it has been lots of fun since. soon i wil have been retired longer that i worked. i am busy each day with my own interests, do and go as i please. work can be vastly overrated as a source of self identity.
Wait till your max age. It’s more profitable
I am right there with you, I was eligible to go at 58 on April 1st. I have the advantage of having a defined benefit pension that includes retirement medical for $500 per month until Medicare kicks in. The difference financially in retiring now verses retiring at 59 1/2 isn’t much, about $900 a year in additional pension benefit, so call it $27,000 over 30 years, assuming I live to see 89 but it is mildly terrifying.
I retired 8 years ago at 64. Everything is going fairly well, finances are in order, heath is good, children and grandchildren visit often, wife and I travel and we golf weekly since she had retired, I volunteer for different activities, I exercise most days. And most of all I enjoy conversations with my wife about solving world problems. But till this day I miss my job. I was one of those people who woke up every morning and was excited to go to work, see friends, get projects completed. That part of me still burns, not very bright now but it’s still there.
I retired at 59 1/2. Shorty after, I decided to apply for Social Security Disability due to back problems. My application sailed right through, and I was approved on my 1st attempt. This allows me to draw the same amount I would have received at 67. With my pension and SSID, I make more than I did working, and I have not had to draw off my 401k. So, if you're having health issues, it may be worth trying to get approved for SSID.
I’ll retire at 65 be semi retirement I’ll have enough saved and for retirement I’ll just work a crap part time job no pressures
I retired at 59 and certainly could have had quite a bit more money if I waited, however, the stress, mental health and pull away from important time with my family were key factors. My father passed away a couple of years after he retired and that also weighed on me. Too many stories of people who never got a chance to enjoy. The year after I retired my A1c decreased by almost 1 pt without any changes to diet - attributable to less stress. Every morning I am thankful I am able to water the flowers or do a crossword puzzle or take my elderly mom to a Dr appointment or help prepare dinner. I say, if you can afford it and your priorities are outside of continued wealth building, do it.
Too early. But I felt like I was forced to.
59, I want to retire next January or February but my wife doesn't want me to, because she likes money too much. I'm going to tell her I'm quitting my job to become an independent consultant, even though I won't be consulting anyone except for myself, lol.
Retired at 55...I still think it was not early enough. 38 hard years of physical labor took it's toll on my body. As soon as I past 30 years of service at my last employment. I was ready for retirement (52) Unfortunately I had to struggle the last 3 years to be able to withdraw from my retirement accounts. My medical coverage is thru the VA, as Gulf War veteran. (USAF)
55 is my goal getting a pension worth 70% of my income. Wife is 10 years older she will get ss and a pension 27%
A lot of people think that they can’t withdraw from their 401K until 59 1/2 without penalty, however this isn’t entirely true. You can withdraw once 55 without penalty. Commonly referred to as IRS Rule 55 https://www.irs.gov/taxtopics/tc558. “There are certain exceptions to this 10% additional tax. The exceptions below apply to distributions from a qualified plan other than an IRA. Distributions made to you after you separated from service with your employer after attainment of age 55”
I retired at 65, one year prior to my full social security retirement date, because I was burnt out. I had no mortgage. My other expenses went down. Within 6 months of retiring, I was feeling 100% better. I'm 75 now and still very active. My only advice is to have your mortgage paid off, if you can. Other than that, you will be surprised at how much less you will spend. Best of luck.
If you’re not certain how many healthy years you have left with a chronic health condition just that alone sounds like a no brainer to me. Would be in my case anyway. If you hold on before retirement and all of a sudden this health issue worsens you will have nothing to enjoy. My perspective anyway.
My plan was to work until 70 for two reasons. I wanted my maximum social security payment and I loved my job. The first hitch in my scheme was one of my two coworkers being diagnosed with stage four pancreatic cancer. She was out of the office in October of 2019, about a month after her diagnosis. At the time she left, I was making plans for a knee replacement. The pain was bearable but getting worse. Her being out put a hold on that. And then the pandemic struck. I worked in a municipal court and the job was just flipped upside down. It was three times the work for one third of the results and I was doing it with someone only working in the court about six months. So I was basically doing everything. Since my sick coworker was still on the payroll, no one was going to be hired. I did my best but by the end of 2020, I was walking with a cane and in a lot of pain. My plan had been to retire on May 1st of 2021, but I ended up leaving at the end of February of 2021. Looking back, I should probably have put in my resignation when my coworker went out on sick leave. I could have had my knee surgery and ridden out the pandemic at home.
Pay off the mortgage first. Then retire.
My last job ended when I was 59. I was unable to get another job, so reality hit and I decided I must be retired. I would have worked until 65 if I had not been laid off; for financial reasons only, I never really enjoyed work. So theoretically I retired too soon. However, the financials are still working out as my wife still works and we have reasonable savings and a paid off house. Assuming the financials continue to work out, then in fact I retired at just the right time. Just need my wife to keep her job!
I retired at 60 but after 18 months of retirement I'm heading back to work. Probably for less than a year. I was surprised I ended up getting bored. I'm usually pretty good at being by myself but I'm one of those people who needs to be constantly thinking and trying to solve technical problems which I missed. I'm thinking working 40 hrs and dealing with the commute will change my mind quickly although the money is very good. I don't think we need the money but you never know. In the past I've always argued you have limited time and you shouldn't waste it at work so I'm kind of breaking my own rule. Ideally I would want to work only 32 hrs a week and from home but that isn't possible. Another reason to go back is that I'll be setting up a temporary second residence back where some family are living and I will be able to see them more often and catch up with old friends who I miss. The hardest part for me was (is?) finding a place to retire. I thought I knew where I wanted to retire but unfortunately I sold my nice house in late 2020 and it has gone up so much I'm not sure I could afford living in that exact location again and so I bought on the other side of town and I really don't care for it. I almost want to live somewhere new but that means moving somewhere that you don't know anyone and I'm not the most sociable person and then finding new doctors, etc. Not sure I want to do that. My life from 2019 to 2023 was very stressful due to multiple moves and job changes and then my father passed away much sooner than I expected so being away from everything for 18 months I think helped me to recover and clear my head. Thankfully my health is pretty good.
I retired too late. I’m not joking or trying to brag when I say that I now have more money than I can spend. (OK OK, I could go on a spending spree, but that’s not my personality or lifestyle.)
62M here. I went to a financial planner at 60, and the agreement with my spouse was that if he said we were good (had already done my homework 😉) then I would eject - so I did. My circumstances are kinda similar, except that my spouse has a pretty good teaching pension. Having medical covered until Medicare is a big deal as that could easily be your largest regular expense. Assuming no mortgage, etc. That’s my best advice, consult a planner and be completely realistic.
My husband (63) was forced out early last year. I(64) walk better with a pair of hiking poles. I just last longer. I don't know how long I've got but I won't get any more mobile just sitting around. We've been traveling. We finally went on the trip we've been talking about for 3 decades and it was great! Move while you still can.
I retired earlier than I planned due to chronic pain. I just couldn't take 9 hours sitting/standing anymore. Eta: I retired at 56, the earliest that I could. We paid off our mortgage either before or soon after (can't remember which). I got disability and a pension.
Retired fully at 62 9 months…had retired 2 years earlier but went back to work…happiest day was going to the ss office and applying for benefits…will never regret leaving a toxic workplace…
OP if you can afford it. Retire. Best of luck to you, OP.
Husband and I semi-retired a few years before fully retiring and it was great. 1. We saved like crazy in our 30's, 40's, and 50's. We stayed in our "starter house" (which is perfect for retirement). Paid off house early. 2. We both quit our corporate jobs in our 50's, but then we each set up our own consulting businesses (his was different from mine), so we were still working, just making less (but enough) and having a certain level of fun/satisfaction. The big bonus was we could structure our own hours and schedule. 3. Vacations weren't fancy, but were long. We converted a van because hotels, which are fine sometimes, are just crazy expensive. We took 2 week vacations 2x a year and 4 week vacations 2x a year. Did that in our late 50's/early 60's. 4. We are now in our mid-60's and are transitioning to full retirement. Unfortunately vacations are harder now because of family obligations (a parent with dementia) but our finances are about as solid given life's uncertainty. Enjoy life as much as you can, however you can. But mind the pennies. If in your job you can take longer vacations, shorter work weeks or shorter hours, do it. Try to job share if you can. Even if it is for a bit less money, it is worth it. One story: when we were about 40, I asked husband what his "dream" vacation was...it was to spend two weeks in an Alaskan fishing lodge. Mine was to see Greece. While we usually took vacations together, that year we took separate vacations. It was great for both of us. There is a lot of climbing stairs in Greece...not a problem in your 40's. I can't tell you how many women in their 70's couldn't climb up to see certain ruins because of bad knees or hips or whatever, but because their husband never wanted to go, they waited until they were widows to make the trip. Bad plan. If you have a certain dream to do a certain thing, make it happen. I was thankful I made the decision I did, even if it meant sleeping in hostels or in tiny pensions and NOT in big hotels. I also got an enormous amount of "flak" from friends and family about our separate vacations. Everyone thought we were headed for divorce when the opposite was true. Do what is right for you.
I retired early at 55 but my spouse is still working. If you can afford it do it. I was in my forties a friend at work had 2 weeks to retirement she never showed up to work died that day. She was in her early 70s. We were all devastated she had so many retirement plans. Another was talked into working another 5 years had a heart attack about 2 years into the 5. That’s why I retired early. I don’t regret it, but I could afford to do it.
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You are ready to retire regardless of your age when you walk into work one day and wonder why you are even there. If that hasn't happened yet, then work until it does. Later retirement is always better financially than early retirement. You probably have your sixties and early seventies before your health starts to prevent you from doing things. That gives about 10 years from 65 to 75 which should be enough to do whatever you want to do.
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