Hello, I’m 53 years old, a registered nurse and planning to retire at 58. I am married, my wife is two years older than I am and she plans to retire at 62. We have a good marriage and friendship. We have three grown up kids. I only have $300,000 in my 401(k), and not on aggressive mode.
My work at a prestigious hospital will give me more or less a $700,000 pension from 26 years in service. I plan to get Social Security at age 62. When I was younger in my 20s and 40s, I never had planned on retiring, but sickness got in the way (my knee is giving me problems that I’m unable to walk for longer hours. I had two minor surgeries and it didn’t fix it). In my situation, I think it’s doable. I plan to live a simple life. I plan to add an extra $1,000-$2,000 yearly to my mortgage. Do you think my money will be sufficient? I’m so embarrassed that I did not prepare well enough. I have no savings at all or cash on hand. I lived paycheck to paycheck because my wife and I were careless with our expenses. We don’t have de …