Sense of accomplishment – Will I get the same sense of accomplishment and adrenaline rush from the other things I plan to do if I retire (travel, volunteer, etc.)?
Loss of camaraderie – Work provides a team of people who share both work and non-work related information, occasionally go out to dinner or drinks, meet at family events or picnics, etc. Is this camaraderie at my job replaceable once retired?
Health – Several recent studies indicate that you may actually remain or be healthier if you are working. The sense of purpose, social interaction and contact with others as well as physical aspects of some jobs can help keep you healthy.
Financial security – Am I actually financially secure for the next 30 plus years if I retire? What if the market crashes and we go into another multi-year depression/recession? Does it make more sense to continue working to build up the retirement nest egg? Or try to phase into retirement over several years by working part time?
Social Security – Retiring later will result in higher social Security payments that will increase the number of years that my nest egg will last. That is if I am still around for those extra years.
Extra job incentives – The human resources department at my company has hinted that they may be able to come up with incentives if I decide to hang around for a few more years and also spend additional time training younger workers.
Health Insurance – My Company provides a very comprehensive medical plan with very low deductibles. If I retire I will have to pay for this coverage until I can get on Medicare. This could be a substantial amount of money.
I will have to consider the pros and cons carefully but I am still leaning towards retirement. Too much to do and who knows how much time there is left.