Life changes so fast - early unexpected retirement

[Anonymous]

My husband medically retired from the federal government in his 50s. Truly the best thing since he continues to get 50% of his salary until he is 62. I was not convinced it was going to work for us but honestly not much has changed financially. I would like to retire before I am 60 but I am happy my husband feels so much better- the stress of the federal government was taking a toll

[Anonymous]

Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

[Anonymous]

My dad retired at 58. So glad he did as he died a few years later. Cancer took my spouse before he could retire. Life is not promised. Encourage him to retire. Best of luck!

[Anonymous]

This is happening to thousands of federal employees OP. The difference is it hasn't happened to them because of medical issues.

[Anonymous]

I think this is one of those phenomenon that you don’t realize exists until it happens to you or someone close to you. Something like 60% of Americans retire earlier than expected but 40-something of those retire earlier due to forces outside their control like health or employer layoff etc.

[Anonymous]

Anonymous wrote:Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

Wow, I’m a woman and that sounds awful. I could never imagine a husband saying that to a wife. Wow.

[Anonymous]

This is really common, though that doesn't make it any easier for op. One in three people who enters the workforce either ends up on disability benefits or dies before age 62. OP, meeting with a financial planner (fee only, cfp) could be useful in figuring out various strategies. Is it at all possible for your husband to work in something lower stress or fewer hours, but not retire completely?

[Anonymous]

Anonymous wrote:Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

Maybe he doesn't need to hang in there. Sounds like they sued for damages. OP says they are actively engaged in medical malpractice case.

[Anonymous]

Anonymous wrote:Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

This is such a strange, yet I think common, mindset. If everyone else is miserable you should be too!

Dont listen to this. If you have the funds and a plan, you do not have to keep working.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

This is such a strange, yet I think common, mindset. If everyone else is miserable you should be too!

Dont listen to this. If you have the funds and a plan, you do not have to keep working.

The flip side of this is - I work because I feel bad that DH works. We could survive on 1 income but not no income. If he's sacrificing and working when he doesn't want to, it feels like I ought to do the same as well. I'm ok with that and I don't want him to be resentful (though he has said multiple times he is supportive of anything I choose).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why can’t he just hang in there? No need to burn the midnight oil. Bare minimum.

My husband is 4 years older than me and keeps threatening to retire early. I’ve told him that if I’m working, then he is working.

This is such a strange, yet I think common, mindset. If everyone else is miserable you should be too!

Dont listen to this. If you have the funds and a plan, you do not have to keep working.

The flip side of this is - I work because I feel bad that DH works. We could survive on 1 income but not no income. If he's sacrificing and working when he doesn't want to, it feels like I ought to do the same as well. I'm ok with that and I don't want him to be resentful (though he has said multiple times he is supportive of anything I choose).

My DH doesn't feel bad for retiring years before me. We're living mostly off of my salary, and some from his inheritance ($300K). I'm going to try to retire at the end of this year, which he supports.

[Anonymous]

I feel like this should be in the money forum and not the jobs forum.

OP, definitely find a fee only financial planner to do some retirement planning. Napfa.org to find a good one.

Without any numbers, I don’t think anybody on this board can tell you if he can retire or not. Also, it’s about both of your peace of mind, whatever the numbers are.

I know somebody up thread mentioned therapy, and since he had a brush with death /near death experience, it might be good for him to consider it. Maybe both of you; it sounds like it was an extremely stressful event. (Understandably!)

I’m sorry for what you’re going through. I don’t think it’s uncommon at all. Best of luck to you.

[Anonymous]

Funny part is I think 100 percent of people 60-65 are healthy in high paying jobs. Which is true for all the people 60-65 I interact with regularly.

Why is that?

In business you only interact with people still working at your level or higher. When people are laid off, get sick, die etc. they just disapear.

The fact is the working people 60-65 often just picked majors at 18 that are still relevant, companies still in business, got lucky with health and had good bosses and companies that invest in employees.

Which is why the ones remaining have very little good advice.

Nearly 90 percent of people I started work with are now retired, dead or laid off. None of them retired early. Why, well I was very lucky and in an amazing Mgt Training Program at a top tier company in NYC in 1986. That is 40 years ago. Meaning oddly we started on fast track with great jobs, staff etc at a young age. Type of career you dont give up. But sadly layoffs, illness and death took a toll over 40 years.

Everyday above ground is a good day.

[Anonymous]

Anonymous wrote:Funny part is I think 100 percent of people 60-65 are healthy in high paying jobs. Which is true for all the people 60-65 I interact with regularly.

Why is that?

In business you only interact with people still working at your level or higher. When people are laid off, get sick, die etc. they just disapear.

The fact is the working people 60-65 often just picked majors at 18 that are still relevant, companies still in business, got lucky with health and had good bosses and companies that invest in employees.

Which is why the ones remaining have very little good advice.

Nearly 90 percent of people I started work with are now retired, dead or laid off. None of them retired early. Why, well I was very lucky and in an amazing Mgt Training Program at a top tier company in NYC in 1986. That is 40 years ago. Meaning oddly we started on fast track with great jobs, staff etc at a young age. Type of career you dont give up. But sadly layoffs, illness and death took a toll over 40 years.

Everyday above ground is a good day.

The ones you don’t see didn’t disappear… they are playing golf, doing yoga, hiking, traveling.

Of course you don’t see them, you are stuck in an office.

[Anonymous]

You need a financial planner.

I just retired at 57 and it’s really a numbers game.

What are your numbers?

Kids?
College?
Mortgage?
Budget monthly
Income?

How much have u saved
Is there a pension