Seven signs that tell you that now's definitely not the right time to retire

7 Signs That Now's Not the Right Time to Retire


  1. You're eligible for Social Security
  2. You plan to work part time
  3. Your spouse doesn't want you to retire
  4. You don't have a place to go
  5. You're counting on the stock market
  6. You haven't planned for health care costs
  7. You have financial obligations
Comment: Operative phrase (from article): "simply retiring because you hit a specific number can be a costly mistake.".

I'm 63 + 1 month. A coworker sent me a birthday card this week thinking my birthday is September 19th. It's actually August 19th.

I'm both eligible for social security and a pension (at my company newer employees do not have a pension but I met the breakpoints based on my age!). I'm not retiring for these reasons:

  • I'm reasonably healthy and don't need to retire.
  • We are basically (my wife and I) financially where we started off ... DINKS (Dual Income No Kids). We have kids but they are adults. Two are married. All are working. Two have homes. One has two homes (renting one and living in another). Being "DINKY" is a great time to save.
  • The house is paid off (that was a day of rejoicing ... 3 years ago!!). Because I am interested in investing you can probably guess what we are doing with the monies formerly going towards a mortgage. This is our time where savings and investing is on steroids. 
  • Every year I delay taking my pension, my monthly pension goes up. 
  • And every year I delay taking Social Security the same. Indeed (from the article): "By delaying the start of Social Security, there is an 8 percent gain each year. Social Security, unlike many pensions and annuities, is inflation-adjusted and offers unmatched spousal benefits."
  • My wife is not ready to retire. And I want to retire when she does
  • I haven't figured out what I want to do in retirement.
  • And we haven't figured out where we want to live in retirement

1 comment:

  1. I'm hoping you get lots of chances to preach when you do retire!


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