Quote:
Originally Posted by Wharf Rat
I retired at 62 and have never regretted it.
It strikes me that your assumed rates of earnings / interest are way too high by a factor of 2 or 3. I’m not saying that you can’t find somebody who claims they can make that. But, it’s likely too risky to be prudent. For comparison, a 90 day Tbill gets a little over 4% and dividend stocks might pay 2% to 10% depending on risk.
When you are working, you have new money coming in every month to spend or invest. When you retire, you largely don’t and you need to protect your capital because there’s no way to make it back up. So, there’s a psychological change that’s necessary. What sounded like a hot but risky investment idea no longer makes sense.
Best of luck!
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I don't think I ever really figured I would make those kinds of returns either. It certainly hasn't returned anything since we put it in. In fact right away it lost a ton, and slowly made its way back, and now is down at the moment. I have thought seriously about buying gold and or silver with it. I don't really know much about(as you can tell) about investing as we are newbies but should have been doing it for decades. I am leaning towards keeping the job cause it's the easiest job I have ever had and I am pretty much on my own with no supervisors following me around, the owner has treated me better than any job I have ever had so it's not a hard call to keep working, since it's basically part time and most days I probably make anywhere from $50 to $75 an hour if we were going by hourly rates. So it's really a no brainer. Plus the fact that I doubt very seriously I would find enough to do for the whole month to keep me from going crazy. LOL.
I appreciate all the advice so I imagine I will stay with it at least until 62 and may even put off drawing SS at 62 if I am still able to work.