It hit me this week that I am having a serious case of retirement envy. I don’t think there is an official diagnosis for this sort of thing, but I have found as I have co-workers retiring or coming up on retirement (one retired this month, one coming at the end of the year, and at least two in the next two years) that I am extremely envious of the life they are entering or going to be entering.
Having turned 50 near the start of the year, it has gotten me thinking about the future and what I want that future to look like. I have heard talk of those who are (or have) retiring that they hit the 30/62 threshold (30 years, age 62) and it made sense for them to step away from the work world. Immediately I have started thinking, “Is that an option for me? Could I really have only 12 years left if done right? Or, am I a 15-17 year person?”
There is, of course, a trade off with retirement. The obvious one is that you are trading age for income, unless you are extremely successful or independently wealthy. To retire earlier, you need money that will support your current lifestyle and last. To retire later, you have to age (get older) to a point where enjoying the retirement years could be jeopardized by the uncertainty of health. There is no perfect answer here.
I am just finding I want the life they are about to get. Envy. The life I would like to lead right now and enjoy seems so far off and I want to be young enough and healthy enough to really enjoy it!
I know I need to set up a meeting with a financial advisor and actually get a better, more complete picture of what needs to be done to make the picture in my head a reality. It is on the agenda for this month. The envy is causing me to get anxious to see what really needs to be done at this point.
Anyone with some experience have some helpful tips or tricks? Advice that would suddenly make the picture more clear and the path forward easier?