At what age do you plan to retire?
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Anonymous
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At what age would you like to retire? 53 (me), 55 (DH) How old will your kids be? 24 & 22 Would you voluntarily retire later to earn extra money to help your kids pay for college? Grad school? A wedding? We expect to have the money for grad school and weddings when we retire. 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? This is hard to determine. We expect the house to be paid off (or have the money to pay it off) and that will be our biggest expense. We plan to keep our house in NoVa for a few years, until the kids are settled, but also have a smaller home in a better climate. Once we sell the NoVa house, we will be able to pay off the retirement home and need much less money to live. |
Anonymous
No, it is a balance. But that means you need to make enough to do it all. No private school, though. We bought a house in a good school cluster so we don't have to pay for private. We live in Fairfax County, but we live about 5 minutes from work, so for us, housing is more affordable and we are still close to work. |
Anonymous
Sure, because you won't need health insurance or utilities or food or gas or any other kind of insurance in retirement. |
Anonymous
Nope. Our house isn't old enough to need renovations and we are a public school family. |
Anonymous
We live very well by most standards but we bought an "average" house in a great public school district and renovated it over a few years. So I say we chose to live in an established neighborhood with a low mortgage and we chose public schools. And it turns our we're pouring money into retirement. I don't feel like we've given anything up. |
Anonymous
Well, for starters its obviously a simplification intended to illustrate a point.... Second, I get free healthcare in my home country anyway, and as it happens, I also own approx 280 acres of productive farmland... but yes, I would have to periodically buy gas. Thats true. 
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Anonymous
| As an excellent saver most of the time I feel great about it. Honestly traveling I feel more comfortable staying at budget inn. Since travel prices vary so much I make a game out of getting the best deal possible. I don't care for fancy cars as I leave my car in the parking lot anyway. We do believe in spending for education and we have a beautiful house. |
Anonymous
| 70, anything earlier is pure laziness and very baby boomer |
Anonymous
BS. Have you worked 60 hours + 50 weeks a year for 25 years already? |
Anonymous
| 60 |
Anonymous
I am going through my Aunt's retirement...And I will never retire either. The day of the pension is over. Social Security will feed me and that is about it! I will be homeless and fat. |
Anonymous
I am a slave. |
Anonymous
| At 70.But will be working only part time from 35 to 70. |
Anonymous
| Once I am done paying for dc's college. By my calculations, I would be 62. But may be I will change my mind and work till 65-70 if I am healthy enough still. |
Anonymous
So basically 35. Have you already saved your millions ? |