How do you know when...

[Anmacc2]

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 has done remarkably well, has an awesome attitude, and it's been quite a ride!!! But time is taking its toll...

I've spoken with my HR department (same job 35yrs) and I can be very flexible with time and reduce my work time to 200days a year. DW is not in that position and would need to leave her job of 20yrs. to match my time off. Disability is not an option as she is a medical accountant and capable to do that.

If we could go to 65 we'd be fine, but honestly We don't think we have that much time. Our kids (all in their thirties) agree and are encouraging us to live it to the fullest now.

If we cut back now, we will go through our nest egg by 62 and then live on a fixed income of $4200 a month with cost of living adjustments for the rest of our lives.... If we shoot for 65 our nest egg would be in tact and our fixed income would be $8000 a month.

We're scared... It's a lot to consider.... I feel like the stakes are really high...
I don't know if I'm venting or seeking advice...

[Anmacc2]

jwmII wrote:
If you have everything paid for the 4200 would be doable. Many are living on less today. One thing for sure if you don't spend it the kids will.

:B. Actually what our kids are saying is spend it all, we've got your back! All of the conversation here has been awesome and helpful! We're makin our plans!!!

[philh]

nobody laid on their death bed and wished they had worked more hours.

Set up a budget with a positive cash flow. Start at the bottom with life's necessities. Get to the top with a reserve, you're done spending. If there's no satellite TV, there's no satellite tv.

[jwmII]

If you have everything paid for the 4200 would be doable. Many are living on less today. One thing for sure if you don't spend it the kids will.

[westernrvparkow]

westend wrote:

How many retired rvers have an income of 8000 a month? Probably less than 15%

Only 5-6% of Americans make more than $100K when working. $4k/mo is above the median income of working adults by a good bit.

Regional prices push folks to believe that their income is low or average when, in comparison, it is high for other regions of the country.

Not to pick nits, but the median household income in the US in 2013 was $51,939 according to the US Census Bureau and the average social security benefit check was $1269.00/month. So $4,000 per month would be a bit below the median. Certainly a livable amount, but not an amount that is going to offer much more than basic living expenses.

[FunnyCamper]

Bill and Marie in TX wrote:
I almost lost my wife and partner of 32 years last fall to a major hit and run car wreck. While sitting in the surgery waiting room for the good doctors to try to put her back together I had one of those moments of pure clarity, money and possessions do not have any meaning if your heart is gone. She now is physically disabled and retired, I kept my corporate job to pay the on going medical and for our fun together, but we now take off as much time as possible, bought us a brand new class C to go out easier whenever we want, and I no longer bring my stress from work home, EVER. Oddly enough our life is better now than it has ever been, except for the frequent bouts of pain from her broken body. How much longer we have we do not know as more surgeries are scheduled but by golly we live every day like it is our last, and it is liberating! Unfortunately in our modern society we easily loose focus on what really matters until life smacks you hard on the back of the head. Think hard and follow your heart, you cannot go wrong.

I liked reading your post! moment of pure clarity!!!! that is what it is about. life is about loved ones and others in your life, not possessions at all. I hope your wife does well in her future 🙂 🙂

in fact in the car yesterday I told hubby I want to go back to 'more real' camping vs. our luxury toyhauler. he is in agreement. we want to downsize back to when we ''used'' a camper alot and had fun more---not with this big toyhauler that cost a fortune and we are forever protecting it and cleaning it and babying it LOL it is too much work, I want a smaller camper I can USE to its fullest and just enjoy. not one I am scared to scratch 🙂 🙂

we are in the process of changing how we live and I like it. heading to simple way of life is where we are heading now.

[Belgique]

As has been mentioned a couple of times, a lot of medical billing stuff can be done remotely as long as you have internet. My wife is a medical coder. Would think that the practice would want to keep a long time employee and offer some remote work options.

Hope it works out for you. Not easy.

[tatest]

My wife lived 107 days past her 65th birthday. Actually, with the adjustments Social Security has been making, her nominal retirement age would have been 66, she didn't make it. Her terminal health issues were not discovered until age 62.

But I "retired" (more like laid off) at 58 1/2, and we worked at living on our nest egg, traveling to the places she wanted to see. I made some good investment choices and that nest egg doubled before we started on social security. She continued working (for the social contacts, she seldom made more than $1500 a year) when not traveling, until we got into "treat the terminal illness to extend life a year or two" mode.

I'm now alone, and have more income than I need, because I don't enjoy traveling alone and it doesn't take a whole lot of money for an old single guy to live in a small town on the Great Plains. I think spending what I could, on the things she wanted to do, while she was still alive, was worth it.

I recently went to my high school 50th reunion. Met a lot of old friends who pushed to 65 before retirement, were not doing what they imagined they would be doing in retirement, because their spouses didn't make it, or they got too sick themselves. There was a lot more optimism at the 40th, which marked the year of my retirement, lots of discussion about "must be nice to retire this early, but I need to work a few more years and make more money" or "I can't imagine retiring, not having anything to do." Those ten years made a lot of difference, so many didn't make it through to their retirement expectations.

So I say, go for it.

Alone, I know I can live on $2500 a month. Families in this part of the country live on a lot less than that. $4000 a month is huge money here. If you are worried about living too long, there are less expensive ways to live, and less expensive places in the U.S. than where you are living now.

[Bill_and_Marie_]

I almost lost my wife and partner of 32 years last fall to a major hit and run car wreck. While sitting in the surgery waiting room for the good doctors to try to put her back together I had one of those moments of pure clarity, money and possessions do not have any meaning if your heart is gone. She now is physically disabled and retired, I kept my corporate job to pay the on going medical and for our fun together, but we now take off as much time as possible, bought us a brand new class C to go out easier whenever we want, and I no longer bring my stress from work home, EVER. Oddly enough our life is better now than it has ever been, except for the frequent bouts of pain from her broken body. How much longer we have we do not know as more surgeries are scheduled but by golly we live every day like it is our last, and it is liberating! Unfortunately in our modern society we easily loose focus on what really matters until life smacks you hard on the back of the head. Think hard and follow your heart, you cannot go wrong.

[koda55]

You say your wife's eyesight is deteriorating. Would see rather go now so she can still see things. What are the chances that you could do a few of her bucket list now. We have friends that his wife is in very poor condition. He told her to make out her bucket list. They just got back from the west coast on a 45 day trip. How much would her work let her take off now. This is only my opinion for my wife and I. We have talked to our kids about if something happened to me. and they all said that she would be taken care of. We have medical covered so that is not a worry for her. I would rather live in a hut and not be able to spend what time we have left to enjoy our life together. No one knows when the Lord will call us home. I plan on going kicking and screaming all the way. What ever you and your wife decide, we wish you luck and enjoy each moment you have together. Memories are what are important to us, that is something that who ever survives has .

[TOMMY47]

Do as much as you can now. With even the immediate future cloudy, You need to go.
I had a friend that just died. He was sick a long time. He was playing golf till a couple weeks before the cancer finally killed him.
Jimmy Buffett has a lyric in a song goes something like this--
Better to die while you're living then live while you're dead. That's my philosophy now. I didn't start RVing till 3 years ago. I'm 68 now and am planning to go to Alaska solo next summer.

[westend]

How many retired rvers have an income of 8000 a month? Probably less than 15%

Only 5-6% of Americans make more than $100K when working. $4k/mo is above the median income of working adults by a good bit.

Regional prices push folks to believe that their income is low or average when, in comparison, it is high for other regions of the country.

[qtla9111]

I think you could do quite well on 4200 a month. Many Americans have an average SS check of 690 a month and many live on that. Consider yourselves very, very lucky and enjoy what you have.

How many retired rvers have an income of 8000 a month? Probably less than 15%. I'm sure I could make much more if I wait until 70 to retire but many of my friends under 55 have died from cancer and heart attacks. I'm not going to wait. He-- No!

[Anmacc2]

Okay so....

DW has expressed very clearly that she wants to live life to the fullest, put nothing off, and go full speed till she simply can't go anymore. We are in agreement that there will be no regrets if our bucket list is empty and all we can do is sit on the front porch looking at pictures, telling stories, sharing laughs and memories, enjoying the company of the kids and grandkids and a few close friends.

We will however have regrets if we left things undone and are then unable to do them. I will surely regret it if I have a stash of money and I'm left alone thinking about all of the things I wanted to do with her. We've done a lot together, but we're not done yet.

In April 2016 I'm cutting back to 190 days a year. DW is going to give her boss the option of part time, 3 days a week, with 8 weeks unpaid time off. If he's smart he would take it. If not, she will retire. We'll see how that goes. If she ever wants to she will look
for part time, seasonal. We do live in snowbird country.

We are leaving the end of April 2016 and planning a 7000 mile road trip. Come back late June and enjoy the summer with the grandkids. Then.... Well who knows??? Until then, camping weekends, boating, biking, kayaking, family, friends, hobbies, projects, etc, etc, etc.....

[Anmacc2]

TOMMY47 wrote:
This may sound cold hearted, but It hasn't been addressed by anyone yet.
What is her life expectancy now? How many quality, active years are expected?
I think both need to be factored in.

Not cold hearted....
DW is well past any statistical life expectancy. Thus, there is no precedent to go by. How much longer... Who knows? However, the frequency and seriousness of health related issues are increasing. As well, abilities are diminishing. In the last few years we have given up jet skiing, motorcycles, horse back riding, water skiing, tubing... DW can no longer see at night or in darkened areas. We've gone to a tandem kayak and bicycle. She no longer takes the boat out alone. As well, she will not take our grandchildren out alone. Flip side, she can still walk all day, drives for hours during the day, swims like a fish, high energy, great spirits, great sense of humor, many interests and hobbies... DW's mother had the same illness and died at age 34. DW's sister has the same illness but wasn't diagnosed till ten years ago. She is now blind, chair bound, and totally disabled. As for me I'm so far in perfect health...

We've been talking about this for awhile and our minds were pretty much made up before I posted this. Everyone has been awesome and we thank each of you for your sharing I will post our thoughts in a separate post soon.