My dil asked me to babysit my new grandson so I quit my job and then my dil decided she did not want me to babysit after all. Luckily I got another job.

Checking with social security is very good advice. Holiday pay is another consideration. I found health insurance to be very expensive. This was a while back but be sure to check out cost before retiring.

You need to visit your nearest Social Security office and find out what your options are. You will do better if you wait until you are 65 years old for sure. They can tell you all the ins and outs and you can then decide what is best for you.

My husband retired at 58 - (Thank God we had twenty years to enjoy it) and the first year was sheer hell. Hate to say it, but...................everything changes but the bills!!!!!! The salary dropped way down. I had to wait until I was 62 until I could put in for SS and that was 14 years ago and I only make $304.00 a month now - started at $198.00.. Thank God for my husband's pension. Be sure of what you want when you retire, who you want your health insurance with, the best you can get, etc. Also, if you retire at 64, you will not get the full benefit of SS that you would if you waited until you were 65. Even if it just a few weeks.

You will be cutting back quite a bit, you may not think so, but you will be getting less and the heating prices go up, food goes up, gas goes up, and your raise from your pension or SS does not amount to that much. It gets a lot better after the first year, because you have gotten yourself into a groove and you will do just fine. I am just saying that every case is different and you have to figure this out what is best for YOU. As it turned out my husband was on full pension and when he died, we had it set up to take a lower pension while he was alive and I would get 75% of his pension when he died. That worked out just fine and I flowed into it with no problems.

There are things you will want that you can't have, but you can save for them. That makes it so much more rewarding. Good luck to you, enjoy your retirement and your first grandchild. They are such a blessing and don't spend a lot of money on the baby. They outgrow everything. Hate to sound callous, don't save for his college education either. Give your love to him, which is so much more important, and your time to him/her, equally important. Save for his first bike!!!!!!!
Edie

I stopped working 1/31/2014 after forty years in work force. I babysit my granddaughter born on 12/10/2013. I 'm eligible for SS in December, spouse is still working so insurance is not an issue for me. Do I miss the money? Yes, BUT I have enough sewing supplies to last a lifetime ( with the exception of thread which I go through at a phenomenal rate) and I cannot believe how much I am enjoying the baby! I hope to get a part time quilt shop job someday just to keep social and keep me from spoiling this child rotten.

I retired in June of this year. I chose June because I worked for the State and that was the best time for my benefits. Go talk to your social security office and see what they say. I am glad I retired while my health is still good and I can help with my grandkids and I love every minute of it. I don't know how I had time to work. Go for it and enjoy it.

If you retire in Jan. you will be able to collect your social security for the whole year, I think. I am 68 and was forced to retire due to my husband's illness at age 66. When I went in to the S.S. office of the year I was 64 .(to inquire about Medicare) the man told me I was eligible to collect from Jan. of the year I turned 65. I thought I would have to wait until I actually was 65. Check it out, may be different since you are younger than I am.

I was a benefits coordinator a long time ago. Please go in and talk to the retirement people about your benefits before making a decision. Also I suggest you talk to your daughter about how much time she wants you to be with 'her' child. I have known many hurt grandma's because of this.

I retired earlier than I wanted due to an injury at the job and they wouldn't let me do a desk job to recuperate. Had my time in so that was not a problem. Was hoping to have the house sold before though. It was a bad time for the housing market and took 3 years to sell. I was smart enough to buy most all my toys before I retired as I knew my pension would not be nearly as much as what I was used to getting. Now that I've moved from Florida to IA, my pension goes much farther, I have a larger house with a basement for my sewing, gardens out back for veggies and now on S.S. so hopefully by next year I'll be in the black from the move, buying a larger quilt system,etc. Having the time of my life though and keep busy doing what I love to do.

Prism99 hit it right on the head. Talk to the SS folks. I retired early at age 64 mainly because DH and I were planning to move across the country to be closer to the DD's. I did not want to have to renew my licenses. The difference financially was not that great between retiring then and retiring later according to the SS folks. We decided earlier to be able to move during the summer as opposed to the winter. I will say, enjoy the grandchild. They grow so fast. Every age is wonder full and exciting for both of you. Talk to those folks, talk to your daughter and her partner and then decide what you are going to do. Then relax and enjoy.

I agree with Prism99. Be sure to check out your benefits. I'm 61 and I can't retire until age 66+ to get full benefits and they are quite a bit more than I would get if I started taking them at 62. I am currently insured thru our business on a small group health insurance policy. We're with BCBS and I have a $5,000 deductible and still pay $350 a month for my coverage on a group policy. Insurance ain't cheap.