How do you know when...
DW and I are 56yo. Unfortunately DW was diagnosed at 15yo (yes, fifteen) and has some serious health issues, so we've been hitting our bucket list as fast as time and money allow for forty years. She ...
Forum Discussion
There is much more to this than a simple "play now or work until will die" choice. While it sounds good to spend your life savings and enjoy life, would you really enjoy it watching your nest egg rapidly diminish over the next few years? What if your wife's medical condition stabilizes or improves? What if a cure presents itself? Will those few years of playing and burning through your savings and investments look like such a good decision if you would need to live on your $4000 a month for the next 25 or 30 years? What if her medical condition deteriorates and you need that savings to give her comfortable full time care? What if in 10 or 15 years you need additional, costly care or have unexpected expenses? Having no savings with modest income does not leave you a lot of flexibility to deal with the curves life can throw you.
Your best bet may be to further explore her employment options. Maybe her talents can be used by another company on a similar 200 day schedule (remember, a full work year with two weeks vacation and normal holidays is only 240 days). Maybe faced with losing her completely, her current employer could work out some additional uncompensated time off.
There may not be a perfect answer, but at your ages undoing a major decision like quitting your careers completely would be difficult at best and likely close to impossible. Be absolutely clear on all the potential consequences before you make such a leap of faith.
Your best bet may be to further explore her employment options. Maybe her talents can be used by another company on a similar 200 day schedule (remember, a full work year with two weeks vacation and normal holidays is only 240 days). Maybe faced with losing her completely, her current employer could work out some additional uncompensated time off.
There may not be a perfect answer, but at your ages undoing a major decision like quitting your careers completely would be difficult at best and likely close to impossible. Be absolutely clear on all the potential consequences before you make such a leap of faith.
