Personal Consumer Issues • Money is no longer the problem…

It's tough to give advice with so little info and so much of this dependent on personal preference. You'll need to do some introspection and discuss as a couple to decide on what actions you want to take. The great thing is that money will no longer be the deciding factor for you soon. The challenge is that the new freedom to decide based on personal preference often makes us realize we don't have a really strong preference on what to do next. Some people hate their work so retiring is an easy decision, even without a plan. Some people have a clear desire to do other things so retiring is also easy for them, to enable the next thing they want. Some people really get a lot out of their work beyond money so continuing to work is their choice. Based on my own research and anecdotal observations, I would estimate that at least 90% of people that retire with good finances enjoy retirement more than working. Most people that don't like retirement have money challenges or health challenges (a good reason to retire early) that convolute their view of retirement. There seem to be only a few clinically true workaholics out there that dislike retirement despite having enough money. They are vocal but seem to be low in number.

I would argue most are not as clear as the above examples and are in a grey area that makes decisions more difficult. I personally retired last year at age 49. I didn't hate my work but I didn't love it either and enjoyed my time doing outside of work much more. I have been pretty happy with retirement this past year+ and don't miss work at all. I have a lot of hobbies and spend time with family since we still have two kids at home (middle and high school). One of the best things is spending more time with my boys (even better than I expected). I'm also exercising a lot more. I also wrote a book around money with the intent of it being for my boys. I'm never bored and can always find things I want to do. But I didn't have a grand plan to retire to.......seems that's not really an issue for me. My wife happens to still be working (her choice) and we are both happy with the dynamic so far. At this point she still gets more social/gold stars/purpose benefits from work than I ever did. In a few years or less, I fully expect her preferences will change and she'll join me in retirement.

Every person (and hence every couple) is different so we each need to find our way. Plus our preferences change a lot with time. You can find some helpful tips from other's experience but in the end, you need to make your own decisions and then take actions. Easier said than done but remember that this is a good "problem" to have. Good luck.

Tough to give advice. As noted above.
So true with the complexity of human beings and their lives.
With respect to children, be sure you make yourself a valuable role model. Prepare for the possibility of children going to PhD or MD status. They are your number one priority. Their needs aren’t predictable.

Statistics: Posted by Wannaretireearly — Mon Sep 09, 2024 11:18 pm — Replies 98 — Views 18019