Planning DW retirement timeline

[old medic]

Now that I have nothing to do (LOL) The DW is wanting to me to start looking at her numbers and times a lot closer. She has 22 years in and can actually retire now with a reduced (65%) state pension, and insurance till Medicare. Each year the reduction decreases about 5 % and reach 100% at 60. Her salary will increase a bit each year so each years pension increase would be more like 7%. The other benefit of staying is Shes putting 30% of each check in her 401K. Playing with FC, retiring now with a tight budget shows 100%, but adding $1000 a month drops us to 6.6% without taking SS. Staying till 100% pension and we can nearly double our budget...
She definitely will be staying at work till we get the house done...

 

[Out-to-Lunch]

Yeah, we went through the same excercise. The line representing financial security goes up at $x,xxx or $xx,xxx additional income per year, and the lifetime financial need goes down at $xx,xxx annual spending per year (due to not having as much life left!). Only you two can decide where those lines cross!

 

[pacergal]

How old is your wife?
How long until the house will be done?
How much is enough?
When did your wife originally plan to retire, is she wanting to adjust that timeline?

I worked until 60 for the medical insurance benefit, I could have retired at age 54 with a full pension. It wasn't too hard to continue, as my DH was also working, and it was a significant monetary benefit for both of us.
Now, when he decided to retire before me, it was very hard to get up and go to work while he was staying home! Your wife may be experiencing those same feelings and want to retire now to be with you.

 

[old medic]

How old is your wife? How long until the house will be done?
Your wife may be experiencing those same feelings and want to retire now to be with you.

52, and does enjoy her job most days. House... hopefully with in the next year, and should be paid off or close to it.
How much well more is always better aint it... LOL. even at 100% we are still in the 12% bracket.
I guess we did similar, I stayed nearly 3 years longer for insurance and just to pad stuff since she was still working. Covid added a bunch of OT for me and didn't effect her, but put a big halt to the house progress.