I retired at 56 (nearly 57) after 30 years as a bad faith defense litigator. There were parts of my job that I enjoyed and I really like most of the folks I worked with. But the whole climate of work changed over the years with clients becoming -- not more demanding because I had high standards -- but more unreasonable in their expectations and the jumping through hoops they thought they were entitled too because you were working big cases at fairly good hourly rates. Also, our entire group switched firms and I never fit with the culture of the new firm and did not want, after that many years with my group, to leave for a new firm with unknowns. If everything in 2013 could have stayed as it was in 1999, I probably could have worked for another 3 to 4 years. But I was putting in 60 hour weeks and it was too much when I had plenty of money to retire and wasn't enjoying work life. Each person needs to be able to make their own analysis of these issues, but 8 years in I have no regrets -- and may have extended my life from stress reduction!
Health insurance is a big issue. I had budgeted $500 per month with modest increases. After a couple of years, I blew through that and am now paying nearly $1000 per month for a very modest plan and high deductibles. Because of some surgeries in past couple of years, I have been out of pocket $18,000 per year for 2 years in a row between premiums, co-pays and deductibles. I am thankful I have the resources to pay this, but I provide this level of detail to emphasize that this was one area that I thought I was prepared for and was way off. It is a budget item to take seriously. I am very much looking forward to January, turning 65 and being able to go on a Medicare plan. My medical expenses will drop significantly at that point.
I have not had any real issues finding things to occupy my time. So many organizations need help and volunteers that you could fill your days just helping in your community. I have taught English as a Second Language and the test for American citizenship to immigrants, worked in our local Volunteer Fire Dept Aux to raise funds for the VFD, become a Master Gardener and built and maintained a pollinator garden with my fellow MGs in a public park, taught classes through our Parks & Rec Dept, taken classes through our Parks & Rec, and raised service puppies. Just in our community, I know the Lions are always looking for members as is the food bank and the Master Gardeners and VFD. There are many opportunities available to volunteer your time depending on your interests. If you live near a local Community College, you can also always sign up for classes you would enjoy without the pressure of feeling you have to obtain a certain grade!
The where to retire is also a biggie. We moved back here to Culpeper because of my Mom and to be near family. But 8 years in that has all changed and we are getting tired of the weather in mid-summer and mid-winter. Also, although Bent still does pretty well, gardening on 2 acres was easier at 57 than it is at nearly 65. So, there is no rush, but we are looking at a potential move to a different location and downsizing both the size of house and size of yard. Currently looking at Asheville, NC. I think we will rent a VRBO in July next year down there to check out weather and community.
Hopefully some of this was helpful. Feel free to ask further questions.
