Quote:
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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Work with a fiduciary who can help you plan for your wants/needs. Once you know how much you will have to work with and at what age, you can determine when you are ready to retire to TV. They should help you think through what you want to do with your life (e.g. golf, travel, hobbies....grandkids...) and the financial difference to you at different ages. There are a multitude of resources out there to help. Good Luck! Difficult decisions when you don't know the future!