Ron wrote: ↑
Mon Dec 03, 2018 11:13 am
When my job BS bucket overflowed, at the age of 59.
That was over 11 years ago, and have yet to have any regret of my decision to do so even though my original plan was to go at age 66 (my SS FRA).
I like the metaphor of the job BS bucket! For quite a while, my job as a tenured associate professor seemed pretty cushy and I expected to retire at 62 or later. As the job BS bucket started to fill, I aimed for 60, then 58.
During the 2015-16 school year, changes were announced that would affect eligibility for retiree medical insurance. Under existing rules, anyone eligible to retire would be eligible for retiree medical. Proposed rules effective 1-1-18 would require the retiree to be at least 60 years old with at least 20 years of service to be eligible for retiree medical. Based on my age, I either had to retire in 2017 (at 55) or I would not be eligible until 2022 (at 60).
The BS bucket was getting full enough that I didn't know if I could hold out for five additional years. When I ran some simulations, the numbers actually were more optimistic than I had expected. I thought about it for a few months and finally decided to retire summer 2017.
I'm frugal and practical about most things, so I can easily see myself having been prone to doing "one more year" for a longer time period than would have been optimal; I'm actually grateful to have had that option taken away, since it made my decision much easier. What's surprising, in retrospect, was how quickly I went from being fairly content to wondering how much more I could stand--perhaps two or three years.