Take The Job Or Not?
 

My husband and I are looking to retire in 3.5 years or 42 months to be exact. I currently work 3 days a week and have been offerred a full time position. If I take the full time position, we could retire in 2.5 years or 30 months. I love working part time and my husband teaches so he has summers off. The flexibility in my position allows us the ability to travel and do the things we enjoy in the summers. This board is a wealth of information and would love some assistance in making this decision. If it were you, would you continue working part time or would you take the full time position (which would allow you to get to TOTV a year sooner)?

Take the full time job. Reitring earlier is always to best. We got lucky, worked hard and were able to retire in our late 50s. Never regrated the hard work to get to that point.

working 3 days a week for 3.5 years means you will work for 546 days until retirement (3 days a week x 52 weeks x 3.5 years). If you work 5 days a week and can retire in 2.5 years, you will work 650 days (5 days a week x 52 weeks x 2.5 years). It doesn't sound like an even trade-off to me. Since you are enjoying your current lifestyle and apparently do not need the extra income that working full time would give you, I would stay part time.

Take The Job or Not
 

You neglected to mention your ages. That filters into the decision IMO.

It is a tough decision, in my mind, no matter what the parameters.

From a personal standpoint, my company, (NYNEX before it became Verizon) offered an early retirement package with full medical benefits. This was important to me, since my wife has a chronic illness. I needed more time to take care of her needs, and wanted to "lock in" those benefits, at the same time. For me, the decision was a "no-brainer." The benefits have eroded somewhat, and the pension doesn't increase, but we are both happy with the decision.

Another thing to consider is the stress level of your jobs. I had a lot of travel between New York and New England in my job, which I wasn't happy with.

That's about all I have to offer.

Good luck with your decision.

Information to make an informed decision is missing. For example, do you have benefits working part-time? Would you have benefits working full-time? Would working full-time allow you to contribute to a 401k and get matching funds? Are you able to contribute to 401K while working part-time? Would working full time impact the healthcare benefits you get now and in retirement? Would working full-time help you vest in a retirement plan? How much vacation time would you get working full-time? Could you buy additional pto if you worked full-time, and would that allow you to make up for some of your flexibility you now enjoy? Lots of little factors go into such a big decision and only you know most of those factors. Good luck, there is probably no wrong answer.

I will be 52 tomorrow hubby is 59.5

Yes, I have benefits working part time. I am able to contribute to a 401k however, only get $40 matching funds per month. This is for full time and part time employees. Both positions are vested. Unable to buy pto.

Thanks for all the questions hopefully, with all of your knowledge we will be able to make a educated decision.

As long as you enjoy working I would rather ease into retirement. Keep working part time but start doing some of the things you would do in retirement.
The unknown for a lot of us is far will our money go and how will the economy effect our income. Thus the leaning toward easing into retirement, especially at your young age. If finances will not be a problem then I would retire earlier as long as you will enjoy your new life style.

How to find out what do you really want.
 

Have someone else flip a coin. Heads you remain part time. Tails you go full time. The choice is no longer yours.

While the coin is in the air what does your heart hope the result will be?

There's your answer...

Trust your gut (instinct). What is your gut telling you to do?

Your Decision Process
 

Questions have been raised that you need to ask yourself to factor into a decision. Some other questions are:
1. Is your health a factor in your decision?
2. Are you planning to sell your home at your retirement date?
3, Will you work until the day of the closing?
4. Do you need the extra money as oppossed to taking the full-time job that might be more stressful?

The decision should be made with all the facts in an intellectual manner but one aspect is to consider the emotional response of how you are feeling about retirement?

I like to idea of easing into retirement so I would tend to think a non-stressful job might be more benefical as opposed to working full time especially because of the flexibility. Hopefully, you have many years to enjoy your retirement. :)

I wish I was in TV so I know how you feel. :)

We retired at ages 58 and 59. Three years after we stopped working and moved to The Villages I was diagnosed with breast cancer. Fortunately it was caught early and I have remained cancer free for 10 years now. BUT, getting a cancer diagnosis fairly young made me sit up and take notice of the fact that the life we worked so hard for could end very quickly. We do not regret retiring sooner than later. What if my cancer had not been treatable and I had died in a year? I would at least have had 3-4 years in this wonderful place. None of us knows what the future holds. My feeling is that if you can afford to stop working and make the move to The Villages, do it just as soon as you can. In the end, only you know what is the right time for you to make a move like this.

I am so happy to hear you are cancer free. My mother was a school teacher and was diagnosed with pancreatic cancer when she was 58. 4 months later she passed away. She never was able to retire and that is something I think about daily. Her parents died in their early 80's, so I not sure what the future holds. Your advice and everyone's advice is so valuable as I try to make the right decision. Thanks again!!

Sounds to me you "love part time".........stay with the part-time......I went from that to fulltime since moving to TV; it's difficult mentally! You'll be in TV soon enough; enjoy your free time with the extra days off, it's a gift.

:agree: This is important after you've taken in all the advice and information you can.