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.
|
We live on 55k-60k a year and live in a patio villa, which is paid for . We have no debt and our vehicle is paid for too. Both of us pay for health insurance which cost $12k a year. We eat out twice a week, sometime 3. We travel, take cruises, and do beach trips 3 or 4 times a year. We live a good life and want for nothing, so yes I think you can do it too with your projected income for 1 person.
Like others have mentioned your days are not guaranteed. This was the main factor in our decision to retire early. I was 59 and husband was 62. Had we of worked longer we would have more money but it wasn't worth it. We are having to much fun being retired. I say go for it!