Your opinion wanted. Should I retire?

[the_donger]

Medical coverage is such a huge benefit, I would hang in for the last 4 years.

[Tyme2fish]

Other factors for you advisors to consider.
I work 3rd shift, 7 nights on and 7 nights off. I work 10, 11, and 12 hour shifts. I am having real problems physically handling these shifts.

Our youngest son just left the nest and now the wife is all alone at night when I work. We live in the country . She's also alone in the day because I'm sleeping.

I can get health insurance for around $450/month.

My job is one of the most stressful jobs in the health field. When I say I'm on duty for 12 hours, that's with no lunch or dinner break. No breaks whats-so-ever. 12 hours means 12 hours work.
__________________

[the_donger]

Is there any chance of transfering to another part of the hospital, possibly take a pay cut for a less stressful job with better hours? You definitely have the seniority...

[fishraker]

Tyme,

I say go for it! I was in a similar situation last year at age 57 and decided to retire. It was the best decision I ever made. I didn't have quite the savings you have, but my wife is still enjoying her job and is still working. Health insurance was a big worry, but I have a fund that will pay it until I am almost 65 (I hope). We went to a paid financial advisor and he was able to lay everything out for us on what we would need for the next few years. You might get better advise from some one like that than from us folks on a fishing board. It cost us around $500, but it was worth it for the peace of mind in knowing that it was possible for me to retire without worrying about where our next meal was coming from.

[Tyme2fish]

Retirement benefits from company.
1.Company paid Life insurance dropped
2. Dental coverage dropped
3. Health insurance like now, I'll pay group rate coverage till age 65 when Medicare takes over which would only be 3 years of coverage at retirement at age 62.
4.Prescription coverage like now with copay
5. No pension,we have profit sharing as a 401k plan.


I have a Certified Financial Planner that I'll meet with in 2 weeks. Last year, he said I could retire financially.

[Danny]

Heck man, my net worth is pretty much equal to yours, and I'm retired, and much younger.

In the end it matters not what we say, it is what works best for you.

Your replies indicate that your are looking for someone to give you permission to do what you want to do, and what you have pretty much made up your mind to do, so RETIRE already!!!

Danny

PS, what many fail to realize is that net worth and actual liquid capital are two different things. If yo can do it, quit rubbing it in to those who can't and just do what you want to do.

[Tyme2fish]

Your replies indicate that your are looking for someone to give you permission to do what you want to do, and what you have pretty much made up your mind to do, so RETIRE already!!!

Yep,that's exactly what I'm wanting to hear.!!!! My appointment with my financial advisor is on 10/10/2007. I'll know more then.

[SuperSprint007]

if you feel your able, get the hell out.....find a little fun job, like working in a bait store.... and fish your arse off...
congrats.

[phoenix]

I retired at age 50 with about half of what you have saved. I haven't had to change much in my lifestyle because of the reduced income from my investments, which by the way are doing VERY well, each year my account grows while taking around 7% for income. Ive been retired for four years now, and I hope I never have to go back to work. You should be able to get a very nice annual salary from your savings and never touch your principal. If your investment advisor can't provide you with that I would look elsewhere, there are even some plans with guaranteed rates. You will be ok, just do your homework and deal with a reputable company. Some guys that retired about the same time I did, dealt with some questionable firms and are now basically BROKE, be careful.