Elise1

Like others have said, please see a good financial planner. They will give you much better advice than you will get on a message board.

Good luck

Pinkiris

My husband retired early, when he knew that his company was closing. He didn't take SS until he was 62 years old. We found out at the SS office that when I reached 62, I could collect half of his payment amount, My payment would have been a lot lower because I stayed home many years with the kids and had much lower paying jobs. That was a pleasant, unexpected surprise. It works for whichever spouse is entitled to the lower amount. If I had been the big wage earner, he would have been entitled to half of my SS amount. I had heard about this, but had it confirmed at the Social Security office. We also spoke with a financial planner.

Check out all your options.

QuiltnLady1

DH had a pension when he retired, I retired early and did not. I worked part time until I could take early SS (we decided it would take too long to recoup the difference if I waited until the "magic" year). We get along although I do wish we had the house paid off. We got a really good investment adviser and he has helped us keep growing what we have even though we do have to draw on the IRA.

institches33

Get all your papers in order and talk to a financial advisor. I did - I'm retiring the end of January.

Stitch124

Thanks for your advice. I have a financial planner and will be making an appointment with him tomorrow.

flikkem

Google Retirement Planning Calculator - these are very helpful because they can be personalized to your particular financial situation.

squires1042

Some retirement plans will reduce the amount of social security you will receive such as pers/ters programs, or government plans.

Nammie to 7

Two years ago I went to the SS office to ask questions and walked out retired! I was eligible for Medicare and my work insurance stayed in effect long enough that it covered my husband until he was eligible for Medicare. Working is expensive -- driving every day, lunch out every day, work clothes, etc. Your SS office will be able to answer a lot of questions for you. Make an appointment -- don't just walk in you will wait forever to get to see someone!

gramma nancy

Health insurance is probably the most important thing. If you are old enough for Medicare (65), there is no problem, except choosing the best supplemental for you. If you aren't 65 yet and don't have some sort of insurance into retirement through your employer, better get on the Affordable Care Act website and buy insurance before thinking about retiring.

I retired at 54 on a full pension (long story) and full health care. We moved to the beach and I took a parttime job. That only lasted a year cause I was having so much fun, I hated to have to be someplace at a specific time -- even if they were paying me. Guess I really was ready for retirement.

Best of luck to you. I hope you are able to retire when you want to and to enjoy it as much as I (and many others on this board) have.

MaggieLou

I isn't easy living on just SS unless your house is paid for or you have a substantial 401K or savings. I know when we retired we could earn up to about $36K the year we retired without a penalty. It may be higher now. This was about seven years ago. My DH works full time but I don't know how long he will be able to do that due to health issues.