I retired at 61-1/2 when my employer made me a buyout offer I couldn't refuse. I would have retired at 62 anyway, so it was an easy decision. 59 would have been a bit early for me, but if you're in a comfortable position with your investments, go for it. Don't be too conservative or aggressive with your investment portfolio. You'll probably be around for thirty years or more, which means a stock market crash like we had last year is no big deal. You're more likely to run out of money by being too conservative than too aggressive.
If possible, take your pension as a lump sum distribution rather than an annuity. With interest rates so low, you can almost certainly do better than the annuity payment by investing the lump sum yourself. And don't let your investment advisor convince you to invest your distribution in another annuity! Roll the lump sum distribution into an IRA and invest it in a 60 to 70 percent mix of stocks to bonds.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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