[Gulfcoast]

We're 55/56 and starting to think about retirement (not now but it will be here before we know it). As others have pointed out, health insurance is the big expense that you have to worry about covering before you become eligible for Medicare at the age of 65. That would be a 10 year gap between now and Medicare coverage. Also, if you have young adult children currently covered by your employer policy you will need to think about how your kids will be covered by health insurance, too. Obviously if your kids are already covered by their own health insurance and/or are over the age of 26 that is not an issue for you. If you have kids in college it would be more of a concern.

I think one solution would be to make the move now to a retirement community and continue to work remotely at your current job, if possible. That way you can get established in the community - doctor, dentist, vet (if you have a pet), banking, accountant, etc - and by the time you go to retire you will be all set, the logistics will have been figured out already and you will have gotten to know some people in the community. This is an option that we're considering.

Since your employer requires an additional 3 year commitment if you opt not to retire this year, that really is something to think about since the terms of your employment benefits would be on the table to be renegotiated. In this day and age nothing seems to be a given. In fact, there is nothing certain in life and all choices come with risk. Your financial guy is saying that you can afford to retire now. Your gut is telling you that the terms of your retirement benefits this year might change to your disadvantage if you opt to wait 3 more years to retire. Retiring at 55 under your current plan may very well make more sense than retiring at 58 with lesser retirement benefits. It's a tough call and the sort of situation that more and more people seem to be finding themselves in. I hope you enjoy your visit to TV and best wishes going forward.

Proverbs 15:22 Plans fail for lack of counsel, but with many advisers they succeed. Proverbs 12:15 The way of a fool is right in his own eyes, but a wise man listens to advice.