At what age do you plan to retire?

[Anonymous]

DH wants to retire from his first career (attorney) in his 50's. Then he would like to pursue and alternative part time career after that. He thinks we would enjoy being an adjunct college professor or financial advisor.

Not sure about me. I SAH now, but will return to something part time later. I barely make any money though. When our youngest is 22 (college graduate in theory) we will be 53. Mortgage on our current house should be done by then. We are almost done with college savings already.

[Anonymous]

I will retire at 50 (fed), but then I will decide whether and when to take another job. Kids will still be in high school, and we have good savings, so that provides me with good options. I definitely consider myself lucky.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My husband will retire at 55 (Fed mandatory for his job). I work part-time.

We are 46, so we have 9 more years. Our kids will be 32, 29, 28, 26, and 21.

I doubt we will just stop. I think my DH will take on some contract work and I'll continue to work part-time.

We moved to our retirement location about three years ago. We are already setting the stage!

You had a kid when you were 14?

No, she married a guy who had a kid when she was 14.

He's 46 also.

[Anonymous]

The oldest kid will be 32 when they are 55. Kid was born when they were 23. On the young side but not improbable.

[Anonymous]

At what age would you like to retire? Between age 50 to 54
How old will your kids be? 24-28, dependingWould you voluntarily retire later to earn extra money to help your kids pay for college? Grad school? A wedding? Yes, maybe, no
If your mortgage and childcare expenses are paid off by the time you retire, how much (or what percentage of your current income) will you need when you retire per year? Mortgage is finished when I am 45. 60%

Would like to be available to keep grandkids FT, if I have any and DC wants my help. Might do some travelling in my 50s but I think I will be happy to just live stateside by then and be around family. I plan to find some easy work from time to time like my grandmother does now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're saving plenty but full retirement just doesn't sound very satisfying to me right now. I work part-time at a paid job and do a lot of volunteering in the community and with the kids and it seems like a balance I could keep up with forever as long as my health permits.

My sister, in contrast, hates her job but makes a lot of money and is just going to push on through and retire as early as humanly possible and then start enjoying life. Two different options.

Have you ever worked full time since having kids? I've worked full time for 23 years (my oldest child is 14) and though I don't hate my job by any stretch, I'll be more than ready to have more free time by age 62.

No, I worked 10 years full-time until kids, and have worked 7 years part-time. I do think the fact that it has been part-time means I'm not sick of it by any means yet, and feel like I'm just getting started. I may not want to retire at 62, but I do kind of want to work part-time forever.

[Anonymous]

My plan is to retire when we have 4M to 5M in retirement assets. Need a min of 2.5 to maintain our lifestyle/not feel like a slave. Now we have 1.2 and we are 43. Will retire or try to get flexible jobs in our late 50's. I've worked like a dog my whole life. I would like to watch grandkids. My kids will be close to 30. Mortgage should be paid off in 3 years with extra payments) 6 without. Saved enough so that both kids could go to college in state without loan. If they get into an Ivy, it would be hard. No plans to help with graduate school now except live with us for free etc. Wedding I will give them money and they can choose how to spend it.

[Anonymous]

Anonymous wrote: Need a min of 2.5 to maintain our lifestyle/not feel like a slave.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My husband will retire at 55 (Fed mandatory for his job). I work part-time.

We are 46, so we have 9 more years. Our kids will be 32, 29, 28, 26, and 21.

I doubt we will just stop. I think my DH will take on some contract work and I'll continue to work part-time.

We moved to our retirement location about three years ago. We are already setting the stage!

You had a kid when you were 14?

No, she married a guy who had a kid when she was 14.

No. They are 46 now!

[Anonymous]

Anonymous wrote:My plan is to retire when we have 4M to 5M in retirement assets. Need a min of 2.5 to maintain our lifestyle/not feel like a slave. Now we have 1.2 and we are 43. Will retire or try to get flexible jobs in our late 50's. I've worked like a dog my whole life. I would like to watch grandkids. My kids will be close to 30. Mortgage should be paid off in 3 years with extra payments) 6 without. Saved enough so that both kids could go to college in state without loan. If they get into an Ivy, it would be hard. No plans to help with graduate school now except live with us for free etc. Wedding I will give them money and they can choose how to spend it.

My goal is $7.5M, but thinking maybe $5M is enough / more realistic. Assuming I hit that at 54, Kids will be 24 and 21. Have $1.6M so far. Hoping to hit $2 by 40 (6 years).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My husband will retire at 55 (Fed mandatory for his job). I work part-time.

We are 46, so we have 9 more years. Our kids will be 32, 29, 28, 26, and 21.

I doubt we will just stop. I think my DH will take on some contract work and I'll continue to work part-time.

We moved to our retirement location about three years ago. We are already setting the stage!

You had a kid when you were 14?

No, she married a guy who had a kid when she was 14.

He's 46 also.

O.k. Maybe I was unclear. I am 46. In 9 years, we'll retire. I'll be 55. My oldest will be 32. I had him when I was 22. Young, but not that young!

[Anonymous]

We intend to retire when we are 61 (me) and 62 (my husband). That would be when my youngest graduates college - 16 years from now. That could change, of course, but that is the general plan. We hope to have $2M in retirement savings by then. Right now we're at $650K at ages 45 and 46.

[Anonymous]

Will retire sometime between 55-60. I will have 30 years of service by age 57.
DC will be between 30-35 in that time frame. No college expenses to worry about by then; may contribute to wedding or down payment on home if needed.
I will most likely inherit some money by retirement (500-750K), and should have over 1M in retirement, plus a pension.
Plan is to travel full-time, renting a small loft for a month or two at a time in whatever location inspires me. Calculated this is far cheaper than paying a mortgage on a large home with too much space.
When my wander-lust dies out, will move back to the states and buy a small condo.

[Anonymous]

I will probably retire in my 60's, 70's depending on how my health is. I will work as long as I am capable whether it is PT or FT.

My kids will be in their 30's. We plan to pay for college and grad school. We have sons so we hope that the brides pay for the wedding but sure, we'd chip in. I would not work extra to pay for a wedding but we should be able to pay for it pretty easily.

I think we would need $20k/month to live comfortably in retirement. I haven't done my calculation recently but I think we need about $5-6 million saved. That is how much our life insurance policy is for because that is what we calculated it to be.

[Anonymous]

Anonymous wrote:I will probably retire in my 60's, 70's depending on how my health is. I will work as long as I am capable whether it is PT or FT.

My kids will be in their 30's. We plan to pay for college and grad school. We have sons so we hope that the brides pay for the wedding but sure, we'd chip in. I would not work extra to pay for a wedding but we should be able to pay for it pretty easily.

I think we would need $20k/month to live comfortably in retirement. I haven't done my calculation recently but I think we need about $5-6 million saved. That is how much our life insurance policy is for because that is what we calculated it to be.

You people crack me up. We live "comfortably" now on 10k/month and that's with an enormous mortgage. We would be rolling in it with that and no house payment.