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Originally Posted by Craig Vernon
Ready for our month of May visit and there is much on the agenda. Financial guy says we have enough to live at same level until 94 years of age. I turn 55 in September. Not sure I am ready to stop working but a change certainly wouldn't hurt my feelings. Bring on your wisdom and relatable points of view.
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I'm not sure why you would think to ask us. First of all most people think what they did is the right choice. Is it? We can only walk one path at a time. Few people are totally honest with others, more important with themselves.
Your financial guy says. My mom used to say man plans and god laughs. Whatever your financial guy says will he/she guaranty that? Of course not.
Social security. Check it out. I think unless you are qualified as disabled you will not be able to collect till 62. A pension, if you have that may not be payable till 62 or 65.
Medicare, you need to be 65. We retired at 63. We had one year under COBRA and one year on our own. I'm sure it has gone up. The cost was if I recall 24,000 a year. Call it 50,000 that had to come from our savings.
Those predictions as far as what you need to have. I am a contrarian realist. To get a perfect number all you need to know is when you will die, what will kill you, your real rate of inflation and the return on your investments between the age of 55-your death.
You know none of them. It is all a guess.
At 55, if you decide to go back to work, you may well discover all the people who say you can come back anytime may well now say we cannot justify your former income and in the backroom wonder do they want to higher a guy who is 55. In the real world it is tough to find a job at 55.