2006-09-01 05:11:26 · 40 answers · asked by ? 4 in Family & Relationships ➔ Family
We currently work together in a two man (person) business, so here is no chance of changing her routine.
2006-09-01 05:20:07 · update #1
Retire! Then your wife can hire a sexy young thing to replace you!
2006-09-01 05:32:57 · answer #1 · answered by Laquishacashaunette 4 · 4⤊ 1⤋
You have to see how much retirement funds you have. And is the monthly payment going to be sufficient enough in the long run?
If you have had a Defined Benefits retirement plan, so far, I don't think many companies would let you retire unless you are 55 and have 10 years service. Defined Contribution/ 401K plans, you have to see how they are invested and what's the monthly payment. Life expectancy rates are higher and so is the cost of living. Your DC plan may not be able to cover that. Retiring early may not be a financially secure option in the long run.
Also, what do you plan on doing post retirement. You have to plan that too because individuals like it only for a while sitting and doing nothing. That requires plenty of planning.
2006-09-01 05:21:11 · answer #2 · answered by caughtin2minds 3 · 0⤊ 0⤋
My little brother retired at 35!! He made alot of money in stocks and whatnot and made very good investments. But when he turned 40 last year, he finally decided to go back to work. The thing is, he planned what he was going to do during retirement, and traveled and learned new hobbies. I want to retire at 55, and you best believe I'm busting my buns to be able to do that. But it would be really boring if you don't have someone to spend your time with.
2006-09-01 05:35:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you believe you are ready then you should discuss with her your reasons and show her on paper your financial plans (maybe get a professional financial advisor to help prepare this) and a list of your personal goals you want to achieve through retirement. Be considerate of her needs and expectations of your future together when preparing your plans and goals. Tell her you will prepare these things for her in written form so she can go over it and then give her the chance to revise and ammend according her needs and expectations. Then together you should decide on what can be adjusted and be willing to compromise according to each other's priorities.
The following are just a few of the websites available to will help you understand what you must consider before making the decision:
US Dept of Labor's Top 10 ways to prepare: http://www.dol.gov/ebsa/publications/10_ways_to_prepare.html
Texas Medical Association's Study on Emotional Preparation:
https://www.texmed.org/Template.aspx?id=1684
Arizona State University - Mentally Preparing:
http://www.azcentral.com/community/scottsdale/articles/0417sr-aging0417Z8.html
About.com's article on 12 Tips to Retirement:
http://retireplan.about.com/od/caniretire/a/12_tips.htm
2006-09-01 06:08:29 · answer #4 · answered by conwaymomsclub 1 · 0⤊ 0⤋
You retire when you can afford it. You will need 125% of your current income to do it. Why? Because you will actually spend MORE money now that you have the free time to do the things you couldn't when you were working. You won't be spending your days on the porch in a rocking chair, will you? I didn't think so...
2006-09-01 05:46:08 · answer #5 · answered by christopher s 5 · 0⤊ 0⤋
53 is too young to retire if you plan to just sit around and do nothing. It would be bad for your health. If you have plans to
still be active etc it might be ok. That is if your wife can adjust
and not be angry about it. After all she will still be putting in the
work hours. It is something you need to really talk out with her, and do a lot of planning.
2006-09-01 05:38:22 · answer #6 · answered by Bethany 7 · 0⤊ 1⤋
too young to retire! how old do you have to be?? . is there a guarntee that you will live another five or ten years or more. I got a lot of no good feed back when I retired at sixty two. I have enjoyed every bit of it. now its been eight years . the only clock I set is on the coffee maker
2006-09-01 05:29:42 · answer #7 · answered by mejoe39 2 · 1⤊ 0⤋
Negotiate, set a goal and aim for when retirement suits both of you.
Or if you do it now you will get to see Australia win back the Ashes.
Two old men in a retirement village were talking. One says to the other, "How do you really feel? I mean you are 72 years old, how do you honestly feel?"
"Honestly, I feel like a new born baby. I've got no hair, no teeth, and I just wet myself."
2006-09-01 17:46:45 · answer #8 · answered by Gone 5 · 1⤊ 0⤋
If you can afford to and want to, it's your choice... she's scared of you changing her routine, being under her feet all day and leaning on her to wait on you hand and foot I guess... retire, get a hobby... learn to look after your own needs and put the seat down, and clean up behind you, so she can semi retire too, and she'll bless the day you did retire;-)
2006-09-01 05:15:36 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Chookie,
If you want to retire it could be because your fed up with the job you're doing. So why don't you retrain (its never to late) I used to be a dry stone waller and now I'm a tree apple polisher(some of that was made up) however we aren't here for very long so i think you should do something that makes you feel fulfilled
2006-09-01 07:28:01 · answer #10 · answered by : 6 · 0⤊ 0⤋
Retirement is not an age its an income. If you are financially independent then why work? There are so many things to do and places to visit that one life isn't enough to cover them all. All these people that say "i would be bored" have a distinct lack of imagination. Go for it !!!!
2006-09-01 05:52:01 · answer #11 · answered by Mozzy 3 · 1⤊ 0⤋