DKD wrote: ↑I'm planning to retire at the end of this year. I've been putting it off for the last 2 years. I'm wired to work and to save money. The idea of not working, having no income and spending my savings at age 62 seems very weird.
Welcome to the Retirement Class of 2021, DKD!! Don't worry - no more putting it off, just PUNCH OUT and enjoy a nice long change of pace and new way of life! Before you know it, you'll be wired for retirement and all the neat adventures that come with it
You'll get used to not working, and anyway, you'll be so busy you won't have time to work
DKD wrote:I'm planning on keeping my asset ratio at 50/50. I do my own financial planning and have run the numbers many different ways, using conservative assumptions, like 4% average inflation for the next 30 years, a loss of 10% of my portfolio permanently next year, and 20 percent greater expenses than I actually expect. I also set aside a pile of money, separately for things like medical until my wife and I are 65, wedding for our daughter, a new car, home remodeling, etc.
Sounds like good plans, well-thought-out. Most important ==> wedding for daughter
Special times, we hope you and your wife enjoy this fun with many happy memories.
DKD wrote:With these assumptions I have greater than 90% chance of not running out of money in the next 30 years. Yet I'm still not comfortable retiring. Also, 90% of retirees I know were forced to retire. It wasn't by choice. So, I imagine it's unnatural for many people.
It may be unnatural for those who are "wired to work" to retire from a life of paid work, but you're going to have to do it at some point anyway, so just punch out and enjoy being busy for yourself, at what you want to do. Retiring can be psychologically difficult because it means we are growing older
and we have to change our patterns of life. But these changes are going to come whether we want them to or not. I say this because I went through the same retirement angst, but within months of retiring, I found it wonderful and my portfolio was fine.
And as for
looks like you're in great shape financially to retire! Enjoy this special time and don't worry
DKD wrote:Any advice to help make the plunge easier?
Maybe don't look at it as a plunge. It simply is what has to be done. Life moves on. You're in great shape financially for a long future. And you're going to enjoy retirement very much
We wish you a wonderful retirement with the open road ahead of you filled with many years of relaxing time with your family and friends, enjoying new experiences and adventures. Please let us know how everything goes