AARP Members Enjoy Exclusive Discounts on Travel, Dining and More. Join Today

Reply
Info Seeker

Re: Retiring early - share your experience! Please!

978 Views
Message 71 of 96

My wife & I left the rat race of Southern California & retired to Rosarito Beach, Mexico in November of 2014. I was 56 years old.

FBE7C77B-88BE-4644-BE86-E32A783501E2.jpeg

 

Retiring early was the 2nd best thing that I ever did after marring my best friend in 1988.

Life in Mexico moves at a slower pace & the cost of living is about 80% less than living in the Los Angeles area.

We are fluent in Spanish. We are safer here in Mexico than we were in So Cal. 

We have made many like minded adventurous friends & are always doing something.

I have not wore a watch or long pants in 3 years!This is one happy lady!This is one happy lady!

 

43535CF1-27A5-4A6E-8A30-6D70C374C4D8.jpeg

 

5CD1764E-12DA-4D73-9A44-63C6938AECD8.jpeg

 

Report Inappropriate Content
Info Seeker

Re: Retiring early - share your experience! Please!

951 Views
Message 72 of 96

My wife & I left the rat race of Southern California & retired to Rosarito Beach, Mexico in November of 2014. I was 56 years old.

Retiring early was the 2nd best thing that I ever did after marring my best friend in 1988.

Life in Mexico moves at a slower pace & the cost of living is about 80% less than living in the Los Angeles area.

We are fluent in Spanish. We are safer here in Mexico than we were in So Cal. 

We have made many like minded adventurous friends & are always doing something.

I have not wore a watch or long pants in 3 years!This is one happy lady!This is one happy lady!

 

 

 

1CB9E669-B514-4BD5-A87B-79B6027B357B.jpeg

 

Mi vida es un fiesta todos los dias!43535CF1-27A5-4A6E-8A30-6D70C374C4D8.jpeg

 

5CD1764E-12DA-4D73-9A44-63C6938AECD8.jpeg

 

Report Inappropriate Content
Info Seeker

Re: Retiring early - share your experience! Please!

1,024 Views
Message 73 of 96

As a faculty member at a state university in Illinois, it became more and more imperative to retire as soon as economically feasible. I was able to purchase some years of service as a university employee in two other states, and also had 5 years I could add from service in the public sector which allowed me to retire at age 60. I’m still feeling out retirement—exploring volunteer opportunities and travel. I’ve done more reading in the past 5 months than I’d done in the past five years! And my flower and vegetable gardens have never looked better.

Report Inappropriate Content
Highlighted
Trusted Social Butterfly

Re: Retiring early - share your experience! Please!

1,663 Views
Message 74 of 96

"....I'm hoping to be able to go in 3.5 years at 55. I'll have three pensions and two 401(k) s to live on and then social security.......I wish there was a retirement calculator that allowed the input of pension income. The biggest concern I have, of course, is the cost of healthcare.....".

First off, almost every calculator I've ever seen allows for pensions. That includes the AARP calculator, found on this site.  I don't know why a calculator would not allow for pensions.

   As far as healthcare, yeah, that's the kicker. DW and I retired early and paid into healthcare at about $800 each, a month. You'll just have to examine your finances and determine whether you can afford good healthcare or not. 

   Can't give you any suggestions other than to really take a long, hard, look at your future income and expenses. I've discussed before that DW and I kept track of our expenses, on Excel, for a couple of years, down to the penny. You then have to extrapolate a great deal, then amortize.

  For instance, if you have a house, you need to figure in the $10,000 (whatever) for a new roof. What about future automobile purchases? You need to amortize a car loan and maintenance. Those $400 tires, the $600 struts, etc. Do you want to travel?

   The biggest error people make is to badly underestimate their future expenses. Put in the time and effort to ensure you have tracked your expenses now, then determine as best you can, future outlays.

   It's pretty easy to determine future income. Future expense extrapolations takes work!


Just think. The world was built by the lowest bidder.
Report Inappropriate Content
Treasured Social Butterfly

Re: Retiring early - share your experience! Please!

1,817 Views
Message 75 of 96

@ds30055407 - That sounds very strange! I retired early, and got insurance thru my former employer, United Healthcare, Aetna & Cigna over the years. Several years ago I was diagnosed with breast cancer, and only paid a tiny fraction of the medical charges. Everything was covered either totally or at 90%.


Registered on Online Community since 2007!
Report Inappropriate Content
Info Seeker

Re: Retiring early - share your experience! Please!

1,806 Views
Message 76 of 96

RE: health care.

My brother in law required open heart surgury.  He was covered by United Health 
Care.

Before the surgeon picked up the scalpel, because he was only covered by United Health Care, he was required put up, in cash, the entire projected cost of the surgury, over $200,000.00!

Cheap health care insurance is not always cheaper in the end.

Be warned!

Report Inappropriate Content
Info Seeker

Re: Retiring early - share your experience! Please!

1,782 Views
Message 77 of 96

I'm hoping to be able to go in 3.5 years at 55. I'll have three pensions and two 401(k) s to live on and then social security will hopefully cover any cost of living increases by the time I start collecting. 

I wish there was a retirement calculator that allowed the input of pension income. 

The biggest concern I have, of course, is the cost of healthcare.

Does anyone have any suggestions for the above? 

Thank you! 

Report Inappropriate Content
Treasured Social Butterfly

Re: Retiring early - share your experience! Please!

2,043 Views
Message 78 of 96

 


d939600r wrote:

I want to retire at 62 and want to travel and enjoy life.  I do not want to work until i am close to 70.  I will definitely stay busy, continue walking and getting involved with activities. 


@d939600r  Well then I hope you will be in a position to do just that.  Have you been planning and preparing for a long time?   What activities are you interested in?

 

 

Life's a Journey, not a Destination" Aerosmith
Report Inappropriate Content
Info Seeker

Re: Retiring early - share your experience! Please!

2,045 Views
Message 79 of 96

I want to retire at 62 and want to travel and enjoy life.  I do not want to work until i am close to 70.  I will definitely stay busy, continue walking and getting involved with activities. 

Report Inappropriate Content
Treasured Social Butterfly

Re: Retiring early - share your experience! Please!

2,202 Views
Message 80 of 96

uphillklimber wrote:
>>

I have found that getting my self financially set up removes the concerns of will I make it, and that frees me up to actually do the things I have always wanted to do more of! You just gotta get out there and do it! Enjoy this time!

Sounds like you made the right choice for you. Congrats.

 

This is really a personal decision as the factors are unique to each person as are the reasons to stay or go.   Only you know what is best for you and sometimes you don't really know.   Most importantly, do the research and then decide.  Going back to work is often pretty difficult. 

 

 

 

Life's a Journey, not a Destination" Aerosmith
Report Inappropriate Content