Beginning the Planning Stages

Pixelfun

Pixelfun

New Member
Location
New York
We have begun the "let's retire" conversation. Only thing is, it's been ending with "we can't afford it yet". Searched around to get some ideas on what other folks are doing and stumbled upon this forum. I am married, he is older, so by "retire" we mean him. However, we own a restaurant and we are considering shutting down. So that's where we are at. Will scroll through the threads to get some guidance.
Hope to chat soon. Pixel
 

Hi Pixel!

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HI Pixel...


I took early retirement last year, hubs is still working but it's a scary situation when thinking of retiring. You've gotta think deeply , that no more money will be coming in to replenish what you spend... sobering thought... so make sure as best as you can that the coffers are filled...

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hollydolly said:
HI Pixel...


I took early retirement last year, hubs is still working but it's a scary situation when thinking of retiring. You've gotta think deeply , that no more money will be coming in to replenish what you spend... sobering thought... so make sure as best as you can that the coffers are filled...


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Holly is totally right here, but, unfortunately, sometimes we have to retire due to health reasons OR, with an older person, just can't take the grind anymore of going to work. I'm retired, but my wife is still working a full-time job at 70. Descent income from her job and our SS, but when we move, she will quit her job and will have to rely on SS and 401k savings. Perhaps a part-time job for her, but doubt I'll ever work again. I'm 69.
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Welcome!!
.
I retired early when I discovered that my wife was entitled to Social Security Spousal Award..
Health insurance will be one of your biggest expenses!!!
 
Most days I'm very glad I'm not working anymore, but there are those days that I miss it (my last job, that is). My early retirement (SS at 62) was due to me not being able to find the kind of job (desk/computer) in Purchasing/Inventory, that I had before. So, at 62, wife and I decided that getting my "Early Retirement" of SS was much better than no income at all coming in for me.

One thing for sure, I don't have to worry about staying busy at home.
 
I think my husband will be happy NOT to be doing what we're doing anymore. Not sure he is ready to stop altogether though. So much to think about. Kinda scary
 
asp3 said:
Welcome and I hope that you can come to a good situation regarding your retirement decisions.
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We closed our restaurant due to COVID, so pretty much in limbo aka semi-retirement. My hubby took SS. Cant do much else but start really planning
 
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