Hi,
I'm a 58 year old divorced male and I think I've reached FI, but something is holding me back from retiring (which has been a life long dream goal of mine). Here's my situation: Using the 4% rule, I can easily take out $40,000 a year ($1.4 million total, most in retirement accounts, but some cash on hand), which is all I think I'll need. I did sale my home and almost everything in it recently and downsized to an apartment, so a home is not holding me back. I have a grown son who has a business that's doing great, so he doesn't need support from me right now (who knows what the future holds though).
I'm not from this HCOL area (although I've lived here for over 20 years) and plan to move to a cheaper location when I retire. Based on the numerous spreadsheets I've run, I think the $40,000 will work just fine and I should be able to buy a house or condo, or rent an apartment, for a fraction of the costs of homes where I'm at. I have enough cash to buy a new place and live until I can draw from my retirement accounts and even maybe until I reach SS age.
Any thoughts on tips for moving on? I don't hate my job, but there is no more future for me there. I'm stuck in middle management and have little to no hope of advancing (in fact, because of company downsizing, some responsibilities have been moved to other departments). Every time I turn around, I'm hearing about someone my age or younger getting sick or dying, so I do sense my own mortality.
Thanks in advance for any words of wisdom.