[USER]

Appreciate any input on this scenario. Turning 41 next month. Would like to retire now due to high risk, high stress, dangerous job.

My dream job since I was kid and I accomplished a lot of goals but I have a family now and feel it’s no longer worth it. Men in my family also have history of heart problems.

My priority in life is to be present with my family, find things that I enjoy doing (I have no social life/hobbies outside of work) and get healthy/do some healing from going hard all these years.

The most reasonable plan I can seem to come up with is the following:
Currently have 300k earning 5% in a brokerage account. I chickened out on ETF/Index funds and missed the run up last couple of years due to lack of knowledge in that area at the time.

I felt it was best to do this with the money rather than getting into something I knew nothing about.

Additional 30k savings/emergency fund
I feel more confident now with understanding the market and its different products after nonstop reading and educating myself, but with a retirement goal of just 4 years away, and a possible impending downturn in the market, idk if my plan is too risky.

Plan is to put 50k a year of my 100k salary into brokerage account (index fund tbd) for the next 4 years on top the of the 300k I currently have.

Pension #1 26,500 annual (cola roughly mirrors social security) starting Oct 1st 2024.

Pension #2 (staring at age 50) approx 43k annual with with 3% cola every year after it starts. This number can go up appox 8-10k per year with a successful promotion in the next 18 months.

Only debt is a mortgage. 475k @ 5.5 which I hope to refi down at some point in 2025.

I have one child that I’d like to be around to raise and soak up time with, make memories.

Partner- earns 100k annual as well but I do not count any of this partners salary towards my retirement. Only that they will pay 1/2 of the mortgage and misc bills.

Based on the calculator I’ve been using it appears that I can however, if the market goes down or trades sideways for the next few years that would throw a major monkey wrench in this plan.

Retirement: At my own leisure, I’d like to start 1-2 businesses (passions/dreams of mine) however, I wouldn’t touch my investment funds to due so and would be in no rush.

At a conservative 5% return, adjusted for inflation, my calculation has me at 1 million by 50 years old.

I don’t want to work a another decade plus (with an even bigger pension), only to have a heart attack like I’ve seen so many I work with or have all this money only to not be able to have fun, enjoy life and spend it on/with my family doing fun things, because my body is destroyed.

Healthcare coverage is taken care of for my family and I. For life.

My child’s education is also taken care of.
Am I crazy? Too dramatic?
Any advice is greatly appreciated!

[Douglas]

Everything looks good up until you start talking about your partner. You don’t count any of their income towards retirement. They pay half the mortgage.

What’s up with that? In my opinion if You share a home / life with them that 100% should be included in “the big picture”.

Since health care and education is taken care of, and you have pensions coming in…sounds like you can make a career pivot.

I’m 47 years old, I understand a career change can be difficult, especially at 40+. But if everything you claim is 100% facts you just need to make a career change.

Less stress, less money. Get to it.

[Dinene]

I think I’d also talk with your spouse some and make a plan together because there may be quite a bit of resentment if she is stuck working until retirement and still having to pay half the bills etc

[Amy]

41 is a bit early to retire. I can understand wanting to transition to something less stressful however.

I think at this age and with a young child and working spouse you really have to keep bringing jn some employment income so I really don’t see how this is retirement. You keep mentioning your health.

Heart attack certainly can get entirely genetic. But way more often it is caused by being overweight, high blood pressure and stress combination. I would seriously address risk factors and get working on them.

I lost 40 lbs when I retired. (The stress had not allowed me to lose weight while I was working I am probably lucky I didn’t have a stroke when I was working, I was that stressed.)

But losing that weight dropped my blood pressure right down into normal range immediately. So, talk to your doctor.

There are other things you could do besides retire that would help your health. And just another thought.

It isn’t going to go well with your marriage if you actually retire at 41 and expect your wife to keep working for 20 years.

Even if she only has to pay 50% of the bills. Still, not gonna be good.

[Amanda]

Your health an happiness matter the most. Downsize your life if you need to. Also, not sure how old your child is but it’s easy enough to go back and find part time work when they are in school if it would help.

[Jaime]

Take a break. At your age it doesn’t have to be two extreme cases: completely retire lor stay in your toxic job for another 10 plus years.

If you and your spouse agree, leave your job, take some time to decompress, reconnect with friends and pursue a hobby and/or travel.

Once you’ve taken a breather pursue work that will bring in some income but that you will really enjoy.

[Max]

I am 48 and looking to retire in 10 yrs. A foundational part of my retirement plan will be having two yrs of expenses (Not income) in cash, that way I don’t have to lose sleep during a bear market.

Two yrs is usually more than enough for the market to recover from a bear market.

I would recommend the same in your situation as you seem anxious about the market.

[Ludmila]

Just go on vacation for a year and then find a better job. You are close to 0 net worth now, nowhere near retirement.

You can rent out your house while you gone and it can cover your expenses in some countries like Thailand

[Laura]

Seems you want to keep earning some income, just in a different position. Paying down that mortgage or downsizing would help make you more resilient to down turns during a possible 35 yr retirement.

I agree live the life you want now. Kids grow and are gone in a heartbeat.

Just have backup plans in place. Good luck!

[Author]

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