In addition to the financial side of the equation, think about the following:

How long did your folks live? What was their life like as they aged? For me, I watched my folks and saw that a) between 60 and 70 there was virtually no difference in what they could easily do, b) the difference between 70 and 80 was large, and c) between 80 to 90 there was a very large difference in their ability to easily travel, do physical activities, etc. Therefore, when faced with the opportunity to retire at 57, I looked at the time out to 75 as to be my highest quality years. Was it worth working another 5 to 10 years of my highest quality years when I had all the money I needed for a very comfortable retirement? Wasn't for me.

Are you a person who is defined by the position you hold or are you a person who defines the position you hold? If you are defined by the position/rank/prestige of your current position, retirement will be difficult for you as it has no rank or prestige. You are just retired. If you define the position that you hold, retirement will be just another position that you hold and you will thrive on discovering new things, ventures, and travels in your life.

With lots of good financial advice in the previous posts, I am sure that you can figure that out.

Good luck!

Agree, good post.

:bigbow:

We were sub-55 and loved it.

If it were me, and I was inclined to "change", well I'd go for it.
You can work or volunteer on whatever you want, all you want. There plenty of opportunity for that.

Don't be a fool. You have enough money and Obama care is still available, you'll pay a higher premium first year, then when your income drops so will your premium. We retired at 55, hard decision to make, but once you've made it you'll wonder why you waited. Hubby was healthy and developed cancer at 59 and passed. So glad he had those years to enjoy. I'm 66 now and doing great financially and every other way. You have the money, stop overthinking it. Just do it. You'll be so glad you did. Enjoy your life, the Villages is a great place to do just that.

Interesting. Can you elaborate on what you would do under various scenarios? I'm really curious.

k.

Pay close attention to what TOPHCFA has written. The future in unpredictable and that includes inflation, taxes, and return on investment. The 2% inflation rate is what the Central Bank shoots for on management of inflation. The US has taken on massive debt and IMHO will cause substantial changes in the historical financial situation which is used in many financial plan projections. I am not a CFA or Financial guy so this my opinion!

I'm currently reading "When Money Dies" which details what happened to Germany a hundred years ago with Hyperinflation. (Don't worry, that could *Never* happen to us. It's different this time)

It's kind of a tough read but one takeaway is that in times when the price of things skyrocket, it's best to own things. Real Estate, stocks, farms, etc. And brush up on your back yard gardening skills.

Renters living paycheck to paycheck get crushed.

Give the Aftershock Investor by Wiedemer and Spitzer a read. Their predictions of multiple bubbles simultaneously bursting is overdue, but all the ingredients are in place for it to eventually happen, and when it does it will be ugly.

Investors have a way of ignoring the bad and being overly optimistic, and the government is notorious for kicking the can down the road, causing bubbles to grow to the point where when they finally burst, carnage reigns. Remember the housing bubble crash in 2007 - 2008. Anyone watching closely knew it was going to happen a couple years in advance, but everyone kept piling on because so much easy money was being made. I shorted anything closely related to the housing bubble starting in late 2006, including Bear Sterns, Lehman, the rating agencies, and the companies that insured bonds backed by pools of non-conforming mortgage loans. I got real nervous having to cover my shorts for almost a year, but when the $hit finally hit the fan my retirement was all set.

The bubbles in place today make the housing bubble look like it was minor. Stay tuned.

I sold a home in Arizona about a year before the bubble broke for a $125,000’over what I paid for it 2 years before ,I sold it to a young couple who had one of those pick your payments and a bunch of other junk I warned them but you can’t stop stupid , they lost the house and many others in the subdivision also and my home was on market for half what I paid for it for years while was safely back in Florida so projections in life mean nothing stuff happens

I will not second guess your financial advisor's projections. And, I would not know which of the readers of this list to trust for financial advice. But, I have some thoughts on when and where to retire:

Some people "live" their work. Without their work, they have no direction in life and tend to be unhappy in retirement. Many people in TV work for the joy of working. Gate guards, golf course workers, etc. One of my friends does handyman jobs because he loves "to keep busy." I met a fellow who built neuclear submarines but no drives for The Villages transportation system, just to have something to do. So, work in retirement is an is an option. For the rest of us, several things make for a successful retirement.

Research shows that the single greatest predictor of happiness in retirement is a network of friends. People who do not make friends easily are often advised not to retire and move to a sunny place. Most of us know someone in TV who is not happy and it is usually because they lack a network of friends. Those people often move back "home" to be closer to their kids. Fortunately, TV is a great place to make new friends. You will be surrounded by friendly people who share your interests. If you are at all social, that problem is easily solved.

Another important thing is to move not away from work, but to something. Is there something you have always wanted to do. For me, it is writing and golf. What interests do you have that will take up your time. If you don't know, you should think seriously about it. Lastly, and I think this is underrated, you need a responsibility. I chair a writers group and I have a dog that depends on me. I am not terribly important, but I am important, and that gives meaning to my life.

Craig Vernon -- I retired from a Wall St. job after 41 years at the age of 58 because my husband and I were able to do so and we live a very simple life. As far as not being ready, that is up to you, but for those who say "aren't you going to be bored"--I say never. For me, there is not enough hours in the day to do nothing!!! My opinion, if you can do it financially, by all means do it!!! Remember, tomorrow is promised to no one and if you are in good health now that's a plus!!!! All the best to you!

Wow Craig, one of the best forums I have read on here in a long time, and a lot of good answers. So there were a few things NOT said . First, there is NOTHING saying you can't take your retirement to lock in your medical for retirement, then go work for a competitor. Everyone is hiriing and it sounds like you have skills. You might find you can get a job for a few years that pays you MORE than you were making. I would not let a pension decision like that drive whether it is time to actually retire.
From a financial perspective, it sounds like you are in good shape. It is amazing how much better working one more year makes a retirement look, but you can get carried away with that. I doubt you will get bored in TV.
That being said- I think you should keep working and rent a few months in the villages every year. May is great, but I have to tell you September and October are wonderful also.... I have just the place for you to rent too!

Signed,
Your favorite Landlord
Ed

We moved to The Villages in 2012 when I was 58. I have been working remotely full-time ever since, not because I need to, but because I enjoy what I do. I'm a college professor. My financial guy also told me we could live at the same level until I was 95 if I quit working, but frankly I like the daily structure (though my time is completely my own as long as I get the job done). Since I make a nice salary I do not need to draw social security until I am 70 1/2 so each year my benefits go up by 8%. Where can you get 8% on your money with zero risk these days?

While I do like to play golf I can actually take it or leave it, but we both enjoy the entertainment TV has to offer, so we love living here.

You can pretty well do what you want when you have a regular income and enough money to live well late into life. At the end of the day I think one needs to have a reason to get up each day and do something productive (sorry gang...golf is not a productive activity) so if you like what you do and can keep doing it, why stop?