I am looking to hear from those who have had to (or decided to) consider retiring earlier than expected.
I turn 50 next year and due to some health issues have had to cut back on almost all clinical work. I had never really considered when I would retire in the past because I enjoyed what I was doing and figured I would do it into my 70s. Although we did not have specific retirement plans, we have always lived below our means, are debt free and put away money for college for the kids and invested in Index funds both inside and outside our tax deferred plans.
This change in practice has made me think about retiring sooner rather than later. I am curious to hear from people who are considering, or who have already, retirement earlier than they thought they would whether it be because of disability, change in the practice of medicine, etc. I am especially interested in hearing from people who may not have hit their retirement "number" but made the decision to retire anyway. It is easy to walk away once that number is hit but harder to do it before that. We have saved enough that we could walk away now even though it is obviously less than we would have in another 10 years. The reality is that we never really looked at what we needed until we started thinking about retirement and now face the decision of continuing to work to save up more for some more cushion which every scenario says we do not need based upon our current spending or walk away now.
I turn 50 next year and due to some health issues have had to cut back on almost all clinical work. I had never really considered when I would retire in the past because I enjoyed what I was doing and figured I would do it into my 70s. Although we did not have specific retirement plans, we have always lived below our means, are debt free and put away money for college for the kids and invested in Index funds both inside and outside our tax deferred plans.
This change in practice has made me think about retiring sooner rather than later. I am curious to hear from people who are considering, or who have already, retirement earlier than they thought they would whether it be because of disability, change in the practice of medicine, etc. I am especially interested in hearing from people who may not have hit their retirement "number" but made the decision to retire anyway. It is easy to walk away once that number is hit but harder to do it before that. We have saved enough that we could walk away now even though it is obviously less than we would have in another 10 years. The reality is that we never really looked at what we needed until we started thinking about retirement and now face the decision of continuing to work to save up more for some more cushion which every scenario says we do not need based upon our current spending or walk away now.
Comment