Retire
 

What is his/your plans for health care and coming inflation?

55 is a little young to be here. I mean you just qualify for the age. $$wisr what is it that you want more than that.

Get the heck out of the rat race! You’ll be busy enough figuring out retirement here! No regrets!
Hurry up!

Don’t rely on others. Know and own your finances. I retired at 63 and never looked back. Traveled with my wife while healthy. Enjoyed children and grandchildren while healthy. Too many work their whole life, retire and die. I manage my money and only use an advisor to inform me of which investments I may sell at the lowest tax consequence level. Now, at a later time in my life, I reflect back on the many things I did during retirement that I could not have done had I remained in the work force.

Lots of people live beyond 94 today. Plus, given the spending attitude in Washington these days, inflation is bound to go up. Maybe it's just me, but I would want to push that 94 up maybe closer to 100 for a little more cushion.

yes
 

If I had it to do over again I would retire as early as possible. who knows how long you have left. enjoy what you have worked so hard for while you are in good health and can travel. Life is too short.

This is absolutely correct. We purchased our home in TV 4 years ago when I retired.

Rented it seasonally those 4 years so it completely covered the expenses including utilities and up keep.

I had to wait for my wife (8years younger) than me to retire from a major oil and gas corporation here in Houston Tx.

According to our plan 4 years ago we are to go this summer. Good news 4 years ago we sold our home downsized into a nice apartment that is 1/2 mile from her office.

We are only taking clothes and personals as the home was bought turn key and we’re on our way in June.

Could she stay and keep piling money up that we have no one to leave it to sure.

Like said here supposedly we have enough living our current life style (with plenty of places to cut) should we need to until 94.

My parents were both gone before 72 many in my family didn’t make 75 were on our way and no looking back.

Luckily I’m on Medicare and my wife can pick up here health insurance for 400.00 a month and $150.00 to get my Medicare supplement from them as well.

My advice if you can go as soon as possible and enjoy every day you have left to the fullest.

I look forward to waking up when I feel like it going to bed when I feel like it and doing whatever I want (or not) each day.

Absolutely correct. You I’ll find that there is so much to do and enjoy without tiring your days up getting ready fo traveling to and from and working 8-10 hours a day that the days flash by.

You’ll only be bored if you let yourself. Find a great hobby something you really enjoy and have at it.

Warren Buffett could have retired 50 years ago.
That’s something to think about !! :boom:

Op will still have his investments just like Buffet does :icon_wink:.

What makes you think everyone
 

Watches tv all day. I’ve been retired for over 20 years and never turn the TV on except for the music part during the day and I mean never except for NFL and big time college games, I read a few different newspapers in the morning and then stay busy all day , life is as boring as you make it

If your not ready to retire don't.

I am a Funeral Director. I made too many funeral arrangements with widows who told me about their retirement plans that they never got to enjoy. I wanted to retire as soon as I thought I could so that my wife and I could enjoy the many things our world had to offer. I retired at 51 and I am now 80. I have enjoyed a good life, and if I fell off my motorcycle tomorrow of a heart attack.......everyone knows I did it my way. No regrets.

I sold my business when I was 45 and retired to a gorgeous island almost 30 years ago. The first two years after retirement was filled with sailing and golfing and then boredom set in, as there was no structure in my life, so I found part-time work in an area I loved, until they cut back and laid me off. I then got into a profession where I could set my own hours. We eventually had to scale way back, but realized we no longer had keep up with the Jones.' However, we miss the beach and would like to move back, but of course the prices have gone through the roof now. There are always trade-offs in retirement, but it can be done. It just depends on you and what you want out of life.

I think it's the additional 3 year commitment with the potential of having your retirement benefits renegotiated to your detriment that makes staying a bit of deal breaker for you. Sometimes you gotta go with the bird in hand.

A 55 year old man has an average life expectancy of 82 according to the Social Security lifespan calculator (yes, some will die much earlier and some will live much longer). But if Op's average life expectancy is 82 and his financial guy has said that he should be good until 94 if he retires this year, why the heck not retire?

There are just too many unknowns - will Medicare and Social Security still be around at 65? Will pensions and employer health plans still be viable at 65. What happens if the stock market goes belly up? What about inflation and rising taxes? If you're good to retire now you might as well do it. I predict that there could be a real brain drain in this country if all of this uncertainty continues.

If you want to retire and feel ready to retire than I would do it. You've worked hard to make an earlier retirement a possibility for yourself. Enjoy it.