Revise retirement number/age?
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Anonymous
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Did anyone revise their retirement number and age (up or down) based on current stock market (bull run), uncertain economy and job longetivity? Do you feel that you need more of a cushion or reached your target faster due to bull run and decide to call it quits earlier?
Curious to see what age, NW you planned to retire previously and what is the age, NW that you are now targeting? What was your thought process or considerations? I am going through this where I feel we can reach our number earlier but it can all come crashing down fairly quickly, so considering overshooting the goal for a cushion. Age : 50, NW $6.2M ($5M liquid earmarked for retirement, rest in home equity and 529). Kids go to college in a few years |
Anonymous
| No significant concerns over market performance. Staying the course. |
Anonymous
This, OP. C'mon. Obsessing over and trying to predict the market isn't the way to go. You clearly have a plan based on the numbers you've outlined. Stick with it. Ignore the short term. |
Anonymous
| Yes, I have looked at my plan in light of the last few years of high returns; however, I am not ready to retire yet so I stopped worrying about it. I have thought to increase my bond allocation because I am heavily in stocks and think I don't have the stomach at age 51 that I had in my 40s. |
Anonymous
| I already have a buffer built in to my “number” I also have a diversified portfolio including REITs, foreign stocks, and bonds, so I am not planning on making any changes as a result of the current market conditions. I am on track to retire early in three years’ time. |
Anonymous
| I’m considering retirement with adequate money but am waiting until next year due to the instability I’m feeling about the economy right now. I’m also relatively young so it’s not that urgent to retire right away. |
Anonymous
| We moved up our retirement date (one year earlier) once we hit our number and we realized that we needed to start doing Roth conversions now. We looked at our future RMDs and they put us in a much higher tax bracket. |
Anonymous
| I would not want to retire early as that is sad in a way. If you love your job and it makes you happy there is no rush. |
Anonymous
| We’ve reached our target $7m+$1m home equity , but nothing’s changed—still aiming for 55 in three years due to the economy and uncertain market outlook. If I get laid off before then, I’ll just call it quits |
Anonymous
It’s sad to have nothing better to do than your job |
Anonymous
LOL you don't know ECON 101 do you? |
Anonymous
DP. I love my job! Brings me happiness and fulfillment and I feel excited to go to work most days. I would most definitely be sad if I didn't have that in my life at this point or any time soon. Lots of other great things in my life, too - family, hobbies, travel - but work is one of the biggest contributors to happiness. Sorry you can't envision such a thing. 
48 now and always planned to work until full retirement age of 67. Current bull market not impacting my plans, although I do update my financial plan every year and the projections keep getting higher thanks to great markets and my ability to save more than planned. About $4M saved now; hope to have $20M+ by retirement. |
Anonymous
Do you orgasm when you type that? |
Anonymous
+1 |
Anonymous
I have a job I enjoy. I really get to work with some really smart people. With this BS hybrid work I only have to go to office two days a week. On wfh days I have no boss who bothers me, I just check up on staff periodically. This is a semi retirement job for me. I could easily do it till 70. If you have right job retiring before 67 is sad. I can travel, do stuff. I am pretty sure my 5 days a week hime to go in my pool and sleep in is plenty. In retirement I be on a few boards anyhow if I could to keep mind sharp. I think it is better to enjoy your job. And I am semi retired working full time. My prior job I got paid a ton of money was a pressure cooking back stabbing place. I got laid off that at 58. Took a job with pay cut that is relaxing and enjoyable. When I was young I worked a cushy non profit, out C level team all left demanding jobs or laid off demanding jobs with pay cut and rode of 58-65 in a stress free job, going to lunch friends, showing up at 10 am and headed out at 430 pm, going ballgames, conferences and was good transition for wives. Not going from husband gone 12 hours a day to home all the time. My wife claims magic number is 10 million and we have 7 million, so I guess three million to retirement. |