I have been off the boards for a number of years now due to a very busy life. My wife and I downsized to a 1400SF fifth floor condo walking distance to light rail but with a 50 minute to 80 minute commute.
i am 55 in two months and in six months I have 25 years with my employer. Four years ago I got my dream promotion and my generous defined benefit retirement in May will pay me what I made five years ago. I just paid off the mortgage and when I subtract what I had to warn to pay mortgage, the delta between what I make now less mortgage and what my pension wil be is $10,000. My wife can pull social security and I have to take money annually from an inherited IRA, thus there is no delta between income after mortgage now and what I will get if I retire.
Here is the kicker. I just received an inheritance that forgetting any growth, I could spend a lot of money as in pull out 50% of my current annual spending and never spend it all in my lifetime. I do have an excellent financial adviser. Without the windfall, I had enough non-pension assets to fund my need beyond pension.
I hear the moans, what problem does he have. I admit I have a first world problem and as a member of the 3 percent club, I should shut up now. The problem I have is psychological. I have always lived below my means and saved since age five. Even though my investments will continue to allow me to save, it is very unsettling to think about retirement. I love a lot about my job but a lot of he people issues including a new boss are dreadful.
i have struggled with this for six months. My father worker until he was 74 and stopped to take care of my mother but he missed work. My wife is supportive of any decision I make. I am taking more vacation now as I don't want to sell it back, I don't need the money
have you struggled with a similar decision?
i think I am 9-24 months away from pulling he plug, but this is hard.
all advice welcome thanks