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Originally Posted by Chuck1674
My conundrum: In two years I can retire at age 55 with a 65k per year pension. Or wait 5 more years to take home 72k at 60yrs old. I don't qualify for social security. If I try to keep my mortgage payment under $1000 is it feasible to enjoy the Villages on 65k or wait to be more secure. I will be by myself so I won't need as huge place. I need to know the hidden costs, taxes, bonds, insurance etc. I know this is a question for a financial planner and there are books on it but if anyone would like to share their situation I am listening. I want to get down there as soon as possible but I also don't want to shoot myself in the foot...again....lol my pension would have been 102k if I didn't get divorced, but it is so worth it...Cheers and thanks in advance.
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Chuck this is a question only you can answer. Only you know the type of lifestyle you want in retirement. There are those that eat out everyday and those that clip grocery coupons. Personally I couldn’t retire on $102k, that includes the home paid for in full. I like expensive things and enjoy travel. One great thing in TV, a home priced for everyone. You will find a home within your budget. If your willing to tighten your day to day budget, and pay cash for home, you should be ok on $65k.