56 YO, earning near 100K per year, spending 51K per year. Enough in 401K to provide 55K per year @ 5.5% return until 82. I'm having trouble pulling the trigger to commit to a retirement date. Full healthcare provided for me as part of the retirement benefits for $300 per year. Wife will go on Medicare in September. I can tap my 401K without penalty as I am 56 and will (maybe) be leaving the company. She will get a small amount of SS, and hopefully more when I start drawing early at 62.
I'm still scared. Am I crazy to retire? Or crazy for staying at my job?
One part of me says "enjoy your money while you are still living". The other says "Why are you leaving a job that pays close to 100K per year?"
My wife and I have diabetes and I have had one heart attack. My wife is anxious for me to retire and would like to travel.
This is one of the hardest decisions I have faced for a long time and I am lost. (But blessed to have options)
Submitted June 15, 2018 at 09:52PM by nativemissourian https://ift.tt/2ldDmW5
