What would you do if your wife told you to retire?

Bdubbs

u even lift bro?
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That's a pretty car!!
Thanks Scott! The owner had a well known detailer add ceramic coating.

BTW he just bought a 04 MC with 15k miles.
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oldstv

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I can't tell you how much I like that car. The paint looks amazing, I hope it looks half that good in person. Can't wait to hear your thoughts when you get it.
 

nxhappy

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you need to figure your cost of living. plus about 10 to 20%. THEN, look at your portfolio. You need a substantial amount of money to live off of that. for example 450k at 8% is about 3000 a month. do you have 450k invested? what can you live off of to pay your bills ? Age has nothing to do with it. it's about your current investments and what you reqquire to live. Can you drop off some car payments? save on other bills ? IMO you would need $350,000 at minimum invested.
 

Bdubbs

u even lift bro?
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you need to figure your cost of living. plus about 10 to 20%. THEN, look at your portfolio. You need a substantial amount of money to live off of that. for example 450k at 8% is about 3000 a month. do you have 450k invested? what can you live off of to pay your bills ? Age has nothing to do with it. it's about your current investments and what you reqquire to live. Can you drop off some car payments? save on other bills ? IMO you would need $350,000 at minimum invested.
It also depends on location and cost of living. I live in a smaller town in Minnesota. If you make 40-50k a year here you can live comfortably. Average house probably cost 100-130k.

We don't have any children. We have one truck payment which will get paid off next January.

I'm not going to retire yet. We still need to pay our house off. Probably be 5 years before that.

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RedRocketMike

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Your wife found a way to generate considerable income. Putting your time towards whatever helps grow the business is a smart move. I wouldn't view it as retirement.

Everyone asking about figuring out income/expenses for OP, it's irrelevant. The wife is a ****ing accountant...safe assumption she knows what they can and can't afford.
 
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11Sec_Lx

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Assuming you have all your financial ducks in a row and it won't be like your wife giving you "allowance", then yes, do it and pick up a part time gig that you like.


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IronSnake

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If my ol' lady could pay all the bills and basically keep us financially where we are at now, I wouldn't hesitate. But rather than just be a keeper of the house, I would probably look to move into a new field, hobby, or start my own small business.

It's important to continually challenge yourself everyday. If you're not doing that, no amount of money/time off will result in happiness
 

Riddick

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It's a tough decision and I just went through the same exact dilemma. I just retired from the USAF after serving 21 years (also 41 years old). We have been blessed over the years and from a financial standpoint I don't have to work anymore. My wife is also Active Duty and over the years we have heavily invested into TSP and its paid off.

For me it wasn't about the money, I was concerned with that the hell I would do. Prior to COVID I would of gladly said I could stay home and never work again. I quickly learned being home all the time isn't for me. I was bored while teleworking and after finishing up a few house projects I had nothing to do.

Once I started terminal leave I found a contracting job working Acquisitions for the USAF. If it doesnt work out I can always leave but I have something that keeps me occupied. Once the wife retires I will probably look for a part time job to keep me somewhat busy. I think you are on the right track by wanting to work part time at a golf course or car dealership. That would keep you busy enough where you wont go crazy and are able to help the wife during tax season.

As long as you are set financially, make sure you have something to keep you occupied and you will be fine.
 

nxhappy

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It also depends on location and cost of living. I live in a smaller town in Minnesota. If you make 40-50k a year here you can live comfortably. Average house probably cost 100-130k.

We don't have any children. We have one truck payment which will get paid off next January.

I'm not going to retire yet. We still need to pay our house off. Probably be 5 years before that.

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Rather than pay off the house, you are better off investing that money in the stock market, 401k, other real estate, etc. For sure pay off any vehicles, and credit cards, person debts, lines of credit, etc. Again, do not pay off the house. That money is what keeps you through retirement. Unless you are talking a small amount, IE 25k etc. For 50k a year, figure 500k invested at 10%. That is very doable assuming normal stocks/ S&P500/ index funds.
 

Bdubbs

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If my wife could support my habits and the house and asked me to be a stay at home father/husband, I would be out buying a French maid outfit to accentuate my ball bag when I bend over and tease my wife with the goods.


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I had to share this with the wife

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Deceptive

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I had to share this with the wife

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If she buys you a French maid outfit or lingerie as a joke, I love the relationship you two have.


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