Early Retirement in this Economy
by Toni James
(Charlotte, NC, USA)
I've told this story to many people and they all look at me like "too bad, your mistake."
I made the "mistake" of retiring early in September 2007 and then 3 months after I retired there was the economy collapse, stock market losses and the mortgage crisis.
I knew I had to return to work immediately. I was employed by a major financial institution for 42 years and I was naive enough to think they would rehire me.
Over the past 3 years and 7 months of searching for a job I have finally given up. I would encourage anyone who is considering retiring early in this economy to reconsider, unless you are a millionaire.
We tried to sell our home once in 2008 and once in 2011 we are asking $175,000 less now and there are still no offers.
It is very scary out there for seniors right now. If I had to do it all over again, I would make a different decision.
Wendy: Downright scary! Right now -- I'm really into "thinking out of the box" and finding an income far differently from what you did all those years. I don't know what you did financially - but I wonder if you could write a website and earn an income via your lifetime of knowledge. If interested, I can explain more.
One idea -- Buy the "Too Young To Retire" book (top of right column), I am taking a class (taught by the author of the book) right now and it's putting retired life into perspective for me. I really think it will help you develop ideas for your own retirement.. lots of resources in it.
Hope this helps! Wendy
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to Retirement Life.
Wendy's other site... because Aging Matters!