All good answers. I too would like to work in the garden or go fishing. Maybe tour the country on the cheap. I studied and trained hard to attain my current skills but working for the "Man" is starting to wear me down. Will turn 45 soon and can only see myself working another ten years.
Consequently, I have two 403b accounts (Fidelity & Metlife) and a pension through the same corporation. Have payed aggressively into these annuities especially during 2008 through last fall, when it made sense to back off a bit and use cash to pay down debt. The pension I just found out about- had no idea there was one for me.
Dave Ramsey has influenced my financial philosophy to a certain degree. I only hold debt on my mortgage and student loan which total less than 30k. Not bad huh? Soon these will be payed off.
Have wondered about immediate annuities both fixed and variable and if a sufficient lump sum might provide an income until
retirement and beyond. Or at the very least augment my current income to where I could work less hours per week. A semi-retirement if you will.
Any ideas about annuities?
I plan to talk to a professional advisor because without a realistic plan it's all a scary pipe dream.