Revise retirement number/age?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

It’s sad to have nothing better to do than your job

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.

How did she come up with that number?

[Anonymous]

I left a job voluntarily that had become quite unpleasant under this administration. Likely outcome is lower household income in the remaining years to retirement and we took a planned vacation home purchase out of the plan as a result. Worth it for us, and depending on future earnings and sequence of returns we may still be able to afford the house later.

[Anonymous]

I was going to wait ‘till 70 but the job is not fun any more, living in DC right now is depressing. Moving to North Carolina near family, where money goes farther and where my dem vote might make a difference.

[Anonymous]

Never really had a set age in mind. I have to work for another 10 years at least to get my unreduced pension, probably would go to 12. i've currently got around $1 mil in retirement and $500k in brokerage, and about $500k in house equity, and would probably have around $80k/yr in pension. But I don't really do well if i'm not working, so as long as my job doesn't suck or get eliminated i'm probably going to keep working.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

It’s sad to have nothing better to do than your job

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.

DP - I am jealous. If I loved my well-paid job, I'd stay in it too. Sadly, I don't - I range from mild dislike to active loathing. So I'm looking to retire as soon as I can. We have a NW of about $5m, with about $4m invested, mostly in tax deferred, and earmarked for retirement. It's enough that we can rely on growth to get us to a good retirement number, but not (in my view) to start drawing on now at ages 53 and 56. I can absolutely see me taking a much lower paid job and treading water for the next 10 years or so until retirement.

[Anonymous]

There's a big difference between retiring when valuations are high vs low. Early Retirement Now has a lot of info on the subject.

[Anonymous]

I was able to retire at 38 but I kept working a bit longer. At 40 I fully retired.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

It’s sad to have nothing better to do than your job

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.

I am not sure if this was posted tongue in cheek. But come on, you have to know that not all jobs are like this. In fact, the ones you describe show employees bilking the company when they should be on the job.

[Anonymous]

I was at my number at 55, I was well paid with a lot of work/life balance. I planned to work to 58 or 59.

A voluntary separation program was offered and it was very generous. I took the offer and haven't looked back.

[Anonymous]

Anonymous wrote:I was at my number at 55, I was well paid with a lot of work/life balance. I planned to work to 58 or 59.

A voluntary separation program was offered and it was very generous. I took the offer and haven't looked back.

pp here. I knew our numbers and had done a lot of long term planning. Having retiree healthcare, pension, deferred comp really helped with the decision. And the kids were launched.

[Anonymous]

Anonymous wrote:I was at my number at 55, I was well paid with a lot of work/life balance. I planned to work to 58 or 59.

A voluntary separation program was offered and it was very generous. I took the offer and haven't looked back.

I got laid off my long term job at 54 with $450,000 severance. Big deal tons of taxes and one time payment and 9 years me for Medicare, 11 years for wife and 13 years SS at 67.

I started new job three weeks later a raise and sign on bonus $120,000.

Lost that job three years later. They paid me full bonus plus 3 months severance so $175k check. But now I am 57 still 10 years out.

So got another job with a 80k sign on. Well they were crap with raises, medical insurance and not stable. At 59 going on 60 I needed a more stable job. Luckily my 1/2 of vested stock I got at sign is now worth $300k

But that is also a one time check. I am finally at stage of life once I hit 63.5 if laid off over that age will retire. Will ride cobra to 65, six months unemployment and maybe some severance.

Although my wife thinks I have “one last rodeo” in me. She was thinking at 63.5 I should go for a very high paying executive job even if a boiler cooker of high stress. Something insanely stressful and very high paying. Her theory I will get big cash, big sign on and if fired who cares, I am already at retirement age will take big check and ride off into sunset.

I thought she was crazy last week. But she has a point,

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

It’s sad to have nothing better to do than your job

I could have afforded to retire at 52 but I had a great job and I really enjoyed going to work. I had two kids at home so I wasn't going to travel the world or retire to some warmer climate. None of my friends were retired and I didn't want to hang out with 65+s. I retired at 60 and more than doubled my net worth between 52 and 60 at which point my kids were out of college and we were free to go wherever we wanted to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

It’s sad to have nothing better to do than your job

I could have afforded to retire at 52 but I had a great job and I really enjoyed going to work. I had two kids at home so I wasn't going to travel the world or retire to some warmer climate. None of my friends were retired and I didn't want to hang out with 65+s. I retired at 60 and more than doubled my net worth between 52 and 60 at which point my kids were out of college and we were free to go wherever we wanted to.

Good for you. But my post was in response to a PP saying that it would be sad not to have a job. Which is ridiculous.

[Anonymous]

No changes at age 61. Will continue to work as long as I can get paid because I need the money.

[Anonymous]

We've realized we need to work for 4 more years instead of the 2 we had planned. But we're going to move because my husband can work remotely. I'll have to find a new job, which won't be easy at this age, but I don't need to earn what I've been earning since my husband is the bigger breadwinner.

Our number is SO much smaller than the ones I'm seeing here. Wish we had started sooner.