tag:blogger.com,1999:blog-14245531.post1660530374439883140..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: More Thinking About Early RetirementMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-14245531.post-6876224126454290852017-05-20T05:55:36.271-04:002017-05-20T05:55:36.271-04:00Hey. Great little article. For my two cents: it se...Hey. Great little article. For my two cents: it seems to me that if you're not enjoying your job and have no immediate requirement to be there then just go for it! Good luck and keep us updated!MrMoneyBankshttp://www.multimillionaireroad.com/noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-18102885755002062682017-05-09T02:52:37.586-04:002017-05-09T02:52:37.586-04:00If you are enjoying your work, why not do it for a...If you are enjoying your work, why not do it for a few more years? You can always slow down later on. Due to weird social security laws in my home country, I am retired since 2012 and I collect Social Security. If I wanted to live on that money solely, it would be very tight with not much wiggle room for vacations or splurges. I have a rental apartment which generates a small rent so, that would help the social security check. After I retired, I worked as a consultant for a few years. Now I am back to full time and I am making a very good salary. Technically, I am financially independent but, every new month that I work adds to the quality of life that I will have later on. I am almost 50 and single. I like my independence too but I believe in joint finances as a couple. I think, that works the best if both sides are open and honest about their spending.<br />T'Polhttps://www.blogger.com/profile/16207033510057896918noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-14965085200217094002017-05-08T14:57:10.998-04:002017-05-08T14:57:10.998-04:00This question is an active discussion topic over a...This question is an active discussion topic over at http://www.early-retirement.org/ and I'd suggest that you have a look at the forums there to get an idea of the ins and outs of this decision process. As you suggest there are a lot of moving parts and it's easy to forget about or misjudge what could become important factors. They have a hundreds of members from many walks of life and are well-moderated to keep the discussions focused on early-retirement issues (and away from noise if you know what I mean).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-16694877217011574932017-05-08T12:39:54.184-04:002017-05-08T12:39:54.184-04:00What about a leave of absence? That could give you...What about a leave of absence? That could give you a taste of "retirement" without the permanency. Jewel of Torontohttps://www.blogger.com/profile/07075128266722530380noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-6033915876723166132017-05-08T12:39:25.360-04:002017-05-08T12:39:25.360-04:00Oh my, if you're so stressed out, a sabbatical...Oh my, if you're so stressed out, a sabbatical at least sounds like something worth pursuing!! I'm glad that my comment was food for thought for you. Health insurance IS the grand wild card but I hope that when I'm ready for early retirement, I don't let that hold me back - or at least that I use that requirement to find something I can enjoy that also has health coverage. <br /><br />My hope/dream/plan is to early retire approximately 10 years from now (mid-50s). By that time I will have paid off my home (this is aggressive but likely doable) and I will have saved up enough in non-retirement accounts to fund 3-4 years of living expenses until I hit 59 1/2. At that point I will withdraw from my retirement accounts and will try to hold off on filing for Social Security until I hit 70.<br /><br />Assuming health coverage is still accessible to non-employees (big assumption), I'll have to fund health care for +/- 10 years, until I can get Medicare. I feel I'll be able to withdraw more than 4% knowing that I'll have a Social Security top-up coming when I hit 70. I'm not worried about leaving an estate, I just don't want to be super stressed about money as I age. <br /><br />I don't have a Sweetie to factor into my plans, but I'm fairly hopeful about my path as laid out (barring, of course, many things that could go wrong). <br /><br />It sounds like you've done a great job of taking care of yourself, AND you have a super solid backup with your sweetheart around! It sounds to me like you have a lot of options in front of you! bethhnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-30804209431588623632017-05-08T09:52:53.185-04:002017-05-08T09:52:53.185-04:00I'm curious how health care/health insurance i...I'm curious how health care/health insurance is factored into the retirement calculators you're looking at. Since you are not yet eligible/old enough for Medicare, you would need to pay for your own insurance. Without an employer-sponsored plan available, the open market can be super expensive. I haven't looked carefully at retirement calculators, so I don't know if health insurance is factored in. For me, health insurance is probably the primary factor when evaluating at what age I would feel comfortable retiring.Anonymousnoreply@blogger.com