Early retirement due to stock market tumble

By
Mortgage and Lending with January Financial

The father of a friend of mine has been flying for American Airlines for over 30 years. Though this pilot will only be turning 60 this November, he has decided to take an early retirement. He has some very foresightful reasoning for doing so.

Knowing that his pension is linked to the stock exchange, this man took the chance a year or two ago to lock in his retirement income amount to what the stock market was doing then. I'm not sure of the logistics, but this lock only lasts a couple of years. Rather than retiring in a few years as planned, he has decided to take advantage of his good position now instead of working until the lock expires, and then having to work a few more years just to get his retirement back to the original position.

I've got a couple decades left until I can retire at the standard age, but this gentleman's actions got me thinking. The news reports all this market volatility as bad news only. In reality, there are many opportunities afforded by this investment market that wouldn't have been available a few years ago.

In the meantime, I'm resolving to continue thinking creatively to see how I can make the most of less than ideal times. It just takes a little outside-the-box thinking.

Cyara Pott - Market Specialist

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Rainer
116,822
Bo Hussung
Bell Title /Triserv LLC - Nashvle, TN

Carey, I ams till scratching my head. I can't read anything with any sort of credible information that has anything good to say, except this will not last forever and we will surely get out of it. In the meantime, I am turning over every freakin stone I can get my hands on!

Good post!

Bo

Oct 20, 2008 10:20 AM #1
Rainmaker
412,436
Robin Scott
Robin Scott, REALTORĀ® - Austin, TX
Broker, CRS, ABR, SRS, REALTORĀ® - Austin Texas

Carey, the good news is that if you have any money lying around you didn't lose in ther market, this is a great time to buy. That goes for real estate too.

Oct 22, 2008 04:47 AM #2
Rainer
53,231
Carey Pott
January Financial - Foothill Ranch, CA

Bo - I'm having the same reaction as you, which is having faith that the cycle will change again, as always, and trying to stay upbeat in the meantime.

Robin - that, unfortunately, is a BIG "if" for most people out there! My only hope is that this whole mess will reinspire people to build rainy day funds.

Oct 22, 2008 05:22 AM #3
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