I am 59 years old, earning six figures, but my daughter wants to retire to watch my future granddaughter for a year. Can I afford it?

You also mentioned that your husband will receive the maximum benefit at his full retirement age. I just want to clarify that the full retirement age is when a person receives 100% of their calculated benefits, but the maximum benefit is actually delayed benefits until age 70. The Social Security Administration allows benefits to begin at age 62, resulting in lower monthly payments. For years between full retirement age and age 70, however, the agency encourages delayed benefits by offering delayed retirement credits. I only mention this because you refer to “max profit”.

Now come back to your reality.

For many, this stage of life is known as the catch-up period for retirement savers. As you’ve probably experienced, many adults don’t save much for the future when they’re in the habit of raising a family. Some must allocate most – or all – of their paycheck to immediate expenses, such as housing, utilities, education, and extras for children. Others make sacrifices, such as leaving the workforce to raise children or taking low-paying jobs to juggle both work and family. Later in life, some workers, like you now, reach their peak income.

Before making any decisions about early retirement, think carefully about how leaving your high-paying job will affect your long-term financial well-being. Consider how your finances will look if you continue working if you stop early to see your grandkids.

I understand why your daughter would ask you to watch her future grandchild. Child care is expensive, and quality care can be difficult to find. It’s also thoughtful to offer her a payment, as not every family makes such arrangements—many assume grandparents will take care of the child. At the same time, quitting your job to provide full-time care, especially if it’s only for a year, means giving up significant potential income. This includes not only your salary, but also any investment growth you may earn from continued contributions to your retirement accounts.

Returning to the workforce in your mid-to-late 60s can be challenging. Ageism is unfortunately common in recruiting, and the stress of needing to work because your retirement savings are low is very different from choosing to work for fun.

Private health insurance can also be expensive. If your husband’s job doesn’t cover you — or if he turns 65 before you and enrolls in Medicare — you’ll have to cover your own premiums. That expense can quickly eat into your income or savings. If you’ve budgeted for it, great, but if not, keep it in mind. According to Kiplinger, the average monthly health care premium for a 60-year-old was $1,319 in 2025 and is projected to be about $1,600 in 2026.

Time with your grandchild is valuable, and it’s clear that you value it. If this is very important to you, you need to be careful with your finances. Sit down with your husband and analyze the numbers. See how much you’ve saved and how much you expect to spend each year in retirement. Factor in housing, utilities, groceries, entertainment, medical expenses, transportation, travel, and any other expected costs. Also include a buffer for unexpected expenses, such as roof repairs or car maintenance, so you don’t need to tap into retirement funds prematurely.

A useful rule of thumb is the 4% rule. In short: If you withdraw 4% of your retirement savings in the first year and then adjust for inflation each year, your savings should last about 30 years. For example, if you have $1 million in retirement savings, the first year’s distribution would be $40,000. Retirees typically supplement these distributions with Social Security, pensions, or part-time work if they are not ready to leave the workforce entirely.

Perhaps you can arrange a part-time schedule with your daughter, while continuing to work at your high-paying job some days while watching your grandkids on other days. This approach will allow you to maintain income, provide insurance until Medicare, and reduce any child care costs you would otherwise face.

It’s your life, and you have choices. You are not forced into this work, and you should pursue what is important to you. But before taking care of others, make sure you have secured your financial future.