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You're a fifty-one year old single woman. Life history of excellent health; life history of self-sufficiency and low consumerism. Home owner, no mortage. No credit debt. Eligible for $350 per month pension at age 58. Eligible for highest Social Security depending on retirement date (am planning on "retiring" at 62). In order to stop working now, how much current net worth do you think is needed?

You have to decide how much you will need per month to retire. Then determine where you are going to get this money from. Some from Social Security, some from you pension, some from scaling back your home, car, etc. Also, take into account if you want to just receive money from interest on investments or if you can slowly nip away at the principle. Plus don't forget inflation.

So in a nutshell, you will have to crunch out some numbers with assumptions on return on investment and inflation among other things. There are many calculators on the web that you might be able to utilize. Plus, you could find a fee based financial advisor who could crunch some numbers for you and draw out a plan. If you go this route, make sure you don't get one that is trying to sell you something. You want as much of an unbiased recommendation as possible.

Here are a few articles to read:

Good luck,

Dogpile :-P

"When I look back on all the worries I remember the story of the old man who said on his deathbed that he had a lot of trouble in his life, most of which never happened."
- Winston Churchill
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