I’m 52, won’t live past 80 and have $1.6 million. ‘I am tired of both the rat race and workplace politics.’ Should I retire?

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By Alessandra Malito


I started working when I was 19 and have been saving half of my salary since my mid-20s. Now at 52, I am tired of both the rat race and workplace politics. With the virus, it feels even worse. I have saved about $800,000 in trading, $800,000 in my 401(k) and $300,000 in a house. I also have six months worth of emergency funds. I don’t have any debt and I own my vehicles, too.

I can easily live on a $60,000 budget (including taxes) but often it is less than that. No one in my family has ever survived beyond 80 years old. Thinking of the remaining days, I wonder should I just retire, do some one-off gig work or learn a language that I always wanted to learn? I just wonder if it is prudent to do so. Or should I keep on slogging another 10 years?

What do you think?

Wondering in Alamo.

Dear Wondering in Alamo,

You bring up a question I think a lot of people have been asking themselves lately. The coronavirus crisis has certainly shaken up the way people live, and some of us have been wondering if this is the time to make a big change. But before you do, it’s important that you think about all of the potential consequences on your finances and lifestyle…

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