@texasag1969 said:
Do you have that same option with the other position? If not this is a no brainer. I put in the max in the Thrift Savings Plan under the old Civil Service Retirement System from day 1 availability. That allowed me to retire at 61 and I have never regretted it a day. Hint to the wise. Never withdraw money from any IRA or Supplemental retirement plan unless forced to do so. I even left a two year college plan sit there for 40+ years that I had only contributed about $2,000-3,000 to which became worth over time around $50,000. I converted anything eligible to roll over into an IRA I control in stocks. The other $20,000 I take now as RMDs (required minimum distribution that starts at age 70 1/2).
Anyway I had a choice similar to yours where I could stay in management, which I hated, or go back to being a peon with my love of counseling being paramount. The latter was less money but I never regretted the decision. Follow your heart and praying for guidance helps IMO. The one thing here where I think cal and I agree completely. EDIT: Well two more-CC for self defense and love of the outdoors are two others. Now if I could just get him to give up the king.?
My wife just officially retired one year and 3 days ago at 62 on her social security plus nurses' hospital pension we still have not touched our IRA MF or her 401(k) or anything else and will not anytime soon.
Drawbacks- less SS and pension, paying her healthcare insurance, until Medicare at 65 expensive!
Benefits- retired, priceless! 42 years was enough in the hospital system.