I was in a good, six-figure job then had a near-fatal orthopedic incident. I was in hospital or rehab for three and a half months, and out of work for six, age 59.
i never got back to more than six hours a day. The job was either 7-5 five days a week, or 8-until the work is done.
I was demoted and had my salary cut by 40%. But the long-term disability made up some of the difference.
In March of the year I would turn 61, my boss told me I was going to be laid off, so I quit on my 61st birthday.
Long-term disability kicked in. Social security disability kicked in. I thought I’d cancelled a private disability policy I’d had for 20 years, but I’d only stopped the autopay. That w as an additional $4,000 a month, tax-free.
Disability lasted to age 66 or 67, but my investments (403(b), IRA, TIAA-CREF) kept chugging along. I started to withdraw from my accounts, continuing at 70% of what I’d made when working. My first RMD will increase my income by a few thousand.
ive had an amazing investment counselor all these years.
So, to paraphrase Oscar Wilde, I live entirely for pleasure now.