@Luvsmyfam I am 69, husband is 84....we are both still working, but we are self employed so that is a bit different. Our business is mostly busineess driven, if we close our business customers really don't have another close by source for what we provide for them.
BUT, we enjoy working that also makes a difference. I work 3 days a week and my husband goes in everyday (5 days/week) and is home around 3:00 each day.
I suggest sitting down with pencil and paper and write out a budget, seeing it on paper helps. Write down everything you spend money on...can anything be removed, will you need to cut back on anything?
Do you have enough to pay bills, and something left over at the end of the month? Can you get by if you cut your hours or completely quit?
I am sure you are aware, every year medical costs go up and every day expenses also rise. Do you need to make any expensive purchase before quitting?
Good luck with your decision!
Edited to add: Every year our financial planner has us fill out a budget sheet - then at our meeting we discuss, how far our money will last based on the budget, how much we have invested. Also what percentage of our investments we will be withdrawing once we do quit working. It brings peace of mind for us. We have always put back money for expenses, such as furniture, appliances, etc. The only thing I remember getting a loan for was our cars and the house.
We have never been big spenders nor have we taken many vacations, being self employed taught us to not overspend, we never knew what kind of a month/year we would have. We have been in business for 40+years.
It is a place to start.
