Aug 25
Thinking of Retiring Early?
Are you thinking of retiring early? Read this article with care and then consider crawling back on the bicycle. If one is retiring before “social security” age, be sure you have saved a sufficient amount to last even if you require full-time medical care. Assume that care will run between $70,000 and $100,000 per year in today’s dollars.
Workers who truly enjoy their job and find pleasure in going to work every day really have no need to retire early unless there is another passion waiting in the wings. Don’t retire too early as it is difficult to get back into the work force once one leaves.
Lowell Herr
Photograph: Time trials for U.S. Nationals. Image captured at Alpenrose Velodrome.
Sphere: Related Content
August 26th, 2008 at 7:24 am
Well I retired in January 2007, so the first year looked pretty good and portfolio actually grew. Not so this year although I’m still up 2% in net worth since my retirement. I attribute this to diversification with all my current gains in commodities (oil, gas, precious metals and mining). Our principal spending increases were home renovations. BTW I don’t include our home in the net worth # since you have to live somewhere:^) Current income is SS, a small publishing business and investments.
Bob Warasila
August 26th, 2008 at 11:48 am
Bob,
I retired in the spring of 1999 or one of those bad times according to the article. My wife retired three years earlier. We survived the bear market of the early 2000s, and it looks like we will survive the current economic mess.
Lowell