"I’d like to start over, maybe start a business and live out my days doing something I like."
Dear Quentin, I’m 63 and desperately hate my work. I’ve had the same job for the last 19 years and every day I’m there, I just want to quit. I have $330,000 in cash and investments, $30,000 in my employer’s retirement fund and a remaining mortgage of $83,000. The payment is $1,255 a month.
Honestly, if we all thought about today or our most stressful day multiplied by X number of years, we would likely feel the same way as you do now. Sometimes, it helps to focus on today, and set short-term goals and rewards to ease the pain of a seemingly endless “futurama” — a preview of something that is not yet a reality .
The authors found that if you invested your savings at this point in your life and claimed Social Security early, you would be unlikely to beat the market. “To generate the returns needed to beat the benefit of delaying Social Security, there would need to be a high tolerance for risk and an aggressive asset allocation, not to mention plenty of discretionary wealth,” they concluded.
You are in a good position to seek the help of a financial adviser and a cognitive therapist to deal with the health of your money and your mind. Both should be protected, and cherished. Look after yourself, eat well, exercise regularly, and get plenty of sleep. All of this hard work and retirement planning will be worth it if/when you put your mental health first.You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.
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