Mulling over an early retirement. Did the rough math in my head and it might be possible. When I bring up the subject a fairly common response I get from people is "what would you be doing?" Do these people not have hobbies?
My friend one day I went over his place and his retired Dad had his pajama bottoms on with one of those plastic cups with the built in straw with soda in it. 'Bout 11 in the morning getting ready to watch a Western. It was a beautiful thing. You paid your dues and worked like an animal your whole life you have the right to watch Westerns all day if you want. I don't plan to be a member of the ancient people still working club.
The Golden Years. Work 'til you drop? I don't think so.
The old mantra on retirement was the 'three legged' income stream -
ReplyDeleteSocial Security, Pension and 401K. Pensions are rare anymore, but
I still have all three. The other factor is Medicare, which while it is much less expensive than health insurance, is deducted from your SS monthly check. A couple advantages of early retirement IMO, are the three extra years of payment and write offs on state and fed taxes. Senior discounts are offered by some retail outlets as well. If you are relatively healthy it will pay you for a long time (I'm going on 24 yrs of loafing as I type.) Seems like a goog choice - go for it!
The disadvantage is early SS pays less that the regular retirement data.
I will have two pensions and SS. Don't have a portfolio though.
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