I think I've had an insecurity with money for my entire life. Maybe anxiety is a better description. I'm fearful of running out of money and not being able to get another job. I'm frugal. I spend far below my means. I carefully manage my spending.
On the plus side, if I don't have a job it's not such a big deal. My monthly expenses are very low.
On the negative side, I'm feeling anxious about this situation. I need to have an income.
I see so many articles and videos about when to retire. Make the most of the time you have they say. Think about the "healthy years" - the period of your retirement when you can actually do things, like travel. For some people the healthy years may end by 60, for others it could be into the 80's. For most people it's probably around 75. Sure, the healthy years are mostly determined by how well you take care of yourself.....but there is some luck there too.
Now I'm in a position where I could stop working if I wanted to, or had to. I wouldn't have as much money as I planned to. I'll never have as much money as I want to, or would feel completely comfortable with. I just can't imagine not working, not having an income. How much is enough? Every year more that I work is one less healthy year I have in retirement.
I'm thinking the solution for me is an easier job. Less hours. Flexibility. But I need the medical benefits. Ideally a remote job, although those seems to be vanishing as the pendulum shifts back to an employer's job market.
All good issues to consider. Stopped working (retired) at 50 years of age. Of course, planners and advisers want you to have more, MORE, MORE! The book titled "The Number" actually put it into perspective and made it easier to calculate. Not exact, but it lets you make a plan. Lastly, set the date and continue doing what you're doing until it approaches. Mine was 5 years. Someone told me that would go by quickly since high school and college are 4 years and don't seem like forever after the fact. After all of that, you can always get another little job to satisfy the things working provides. Those are sometimes so important and irreplaceable for people that they work until they drop dead. Best regards.
ReplyDeleteI just retired last May, and I am loving it. I still substitute teach every now and then, but it is on my terms. I am also going to work with a friend at publishing some resources for teachers. It is great not to have to do the 9 to 5 thing every day.
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