Retire or keep working

G G · 05-28-2025, 07:07 AM

I just turned 60 this month. I am about 80% decided to draw my social security at 62.

So I am thinking about retiring soon. I do pest control on what I would say is really a part time basis. I can usually get all my work done between the 12th and the 15th each month.

My wife gets her SS each month, and I also get a State Retirement which is not a huge amount but not bad.

We also rent my dad's place for $1600 a month. We aren't rich at all, but we have enough money to do what we want with traveling and such. We don't live an extravagant life at all.

I also have a 50 amp hookup, with electric, water, and sewer I could rent for about 6 to 700 a month if I choose to do it.

After my dad died I inherited a 50K IRA, and the rules on that is you have draw it down to 0 in ten years. We have invested that and my guy tells me that we can probably make around 12 to 18% on that money.

We also invested just south of 100K in a separate IRA and on that one we went a little less risky so maybe around 12% on that one.

I am not a stock market guy but we did all this just before the tariffs and whatever else happened and the market has been more down than up. We lost quite a bit right away then gained most of it back.

The only payments we have each month is my 2021 Truck, and our Travel Trailer. Those two together are $1050 a month, and the guy who helped us do the investments said it makes more sense to just keep paying the monthly payments instead of paying them off because we stand to make more percentage on the investments are than the interest rate on two vehicles.

So, just looking for any ideas, or someone's experience with retiring early? Pros-Cons?

Thanks

05-28-2025, 07:07 AM	#1
G G BR549 Join Date: Oct 2008 First Name: Greg Location: Taylor, FL. Posts: 12,747 Trading: (10)	Retire or keep working I just turned 60 this month. I am about 80% decided to draw my social security at 62. So I am thinking about retiring soon. I do pest control on what I would say is really a part time basis. I can usually get all my work done between the 12th and the 15th each month. My wife gets her SS each month, and I also get a State Retirement which is not a huge amount but not bad. We also rent my dad's place for $1600 a month. We aren't rich at all, but we have enough money to do what we want with traveling and such. We don't live an extravagant life at all. I also have a 50 amp hookup, with electric, water, and sewer I could rent for about 6 to 700 a month if I choose to do it. After my dad died I inherited a 50K IRA, and the rules on that is you have draw it down to 0 in ten years. We have invested that and my guy tells me that we can probably make around 12 to 18% on that money. We also invested just south of 100K in a separate IRA and on that one we went a little less risky so maybe around 12% on that one. I am not a stock market guy but we did all this just before the tariffs and whatever else happened and the market has been more down than up. We lost quite a bit right away then gained most of it back. The only payments we have each month is my 2021 Truck, and our Travel Trailer. Those two together are $1050 a month, and the guy who helped us do the investments said it makes more sense to just keep paying the monthly payments instead of paying them off because we stand to make more percentage on the investments are than the interest rate on two vehicles. So, just looking for any ideas, or someone's experience with retiring early? Pros-Cons? Thanks