At what age will you retire and with how much?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

This question always makes me sad when I hear it at work. Don't you have anything in your life besides work???

[Anonymous]

Between 59 & 62.
$4-5M including about $1M house.
Fed so solid pension about about 50% of current salary and health care covered.

[Anonymous]

Anonymous wrote:Between 59 & 62.
$4-5M including about $1M house.
Fed so solid pension about about 50% of current salary and health care covered.

We are similar. Currently both early 40s feds with $4 million in investment assets, $600,000 in retirement accounts $2 million house and will retire in 15-20 years with hopefully more in assets, bigger retirement accounts and a pension that will bring in 35-40% of our pre-retirement income.

[Anonymous]

Wife and I plan to retire at age 60 to 62. $60k pension, full social security at 70, and hope to have $1.5 million in retirement a counts. Plan is for $12k a month in income. That is far more than we need, but I want to make sure family will be taken care of if a spouse falls ill/quits work early/social security cut/etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

We're retired at mid 50s last year. I can't comprehend questions like this from people who don't have the imagination to think up of hobbies they rather do than work. Didn't you ever want to learn a language, a musical instrument, martial art, spend more time to travel and visit old friends, etc...but never had the time because of work, kids, elderly parents and various responsibilities as an adult? Creativity is intelligence having fun...and when you own your time you can be as creative as you want, and mid day naps after meeting up with friends for lunch are great too.

Ha ha ha. I retired at 53 almost 8 years ago. I do nothing now, and it’s great. I’m also healthier. Anybody who thinks they need to work is crazy.

My husband retired at 58 and does nothing. It's boring as hell to me. In addition to a full time job I enjoy, I volunteer, study Italian and go out with friends. Training for a race right now, so running 3X a week also. Maybe when I'm older doing nothing will sound enjoyable but I like being busy and every day being different.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

We're retired at mid 50s last year. I can't comprehend questions like this from people who don't have the imagination to think up of hobbies they rather do than work. Didn't you ever want to learn a language, a musical instrument, martial art, spend more time to travel and visit old friends, etc...but never had the time because of work, kids, elderly parents and various responsibilities as an adult? Creativity is intelligence having fun...and when you own your time you can be as creative as you want, and mid day naps after meeting up with friends for lunch are great too.

Ha ha ha. I retired at 53 almost 8 years ago. I do nothing now, and it’s great. I’m also healthier. Anybody who thinks they need to work is crazy.

+1 I have bad sciatic issues from sitting too much working. I always say working (sitting) is bad for your health. There was about 18months when I didn't work, and I was in the best shape of my life.

I hardly sat. I was constantly doing stuff around the house, eating better, and had time to exercise and also relax. I'm hoping to retire in 3 years when I'm 56. I have private insurance now, so we'll keep that.

I hope to have about $2.8mil by the time we retire. Colleges all paid for. I can't wait.

Yep. It’s great! Most days I don’t even know what day of the week it is. I do whatever I want, which often amounts to nothing. But I’m never bored. Never. My worst day retired is better than my best day working. I spend more time with dogs now than I do people. It’s heaven.

I much prefer people to dogs. I suspect most people who love do nothing retirements are introverts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

This question always makes me sad when I hear it at work. Don't you have anything in your life besides work???

Yes but some of us don't need to be retired to do other things. I'm almost always ready to go back to work by Sunday night.

[Anonymous]

I'm hoping at my minimum retirement age, 57.5. Will depend on tsp. Kids will be 23 and 21, so it will also depend on what their situation is. Hope to have $4m by then but who knows.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

We're retired at mid 50s last year. I can't comprehend questions like this from people who don't have the imagination to think up of hobbies they rather do than work. Didn't you ever want to learn a language, a musical instrument, martial art, spend more time to travel and visit old friends, etc...but never had the time because of work, kids, elderly parents and various responsibilities as an adult? Creativity is intelligence having fun...and when you own your time you can be as creative as you want, and mid day naps after meeting up with friends for lunch are great too.

Ha ha ha. I retired at 53 almost 8 years ago. I do nothing now, and it’s great. I’m also healthier. Anybody who thinks they need to work is crazy.

+1 I have bad sciatic issues from sitting too much working. I always say working (sitting) is bad for your health. There was about 18months when I didn't work, and I was in the best shape of my life.

I hardly sat. I was constantly doing stuff around the house, eating better, and had time to exercise and also relax. I'm hoping to retire in 3 years when I'm 56. I have private insurance now, so we'll keep that.

I hope to have about $2.8mil by the time we retire. Colleges all paid for. I can't wait.

Yep. It’s great! Most days I don’t even know what day of the week it is. I do whatever I want, which often amounts to nothing. But I’m never bored. Never. My worst day retired is better than my best day working. I spend more time with dogs now than I do people. It’s heaven.

I much prefer people to dogs. I suspect most people who love do nothing retirements are introverts.

Well you’d be wrong in my case. I’m a huge extrovert. AND I love dogs.

[Anonymous]

Anonymous wrote:I will never be able to retire. I will work until I drop dead. My worst nightmare would be becoming unable to work because then I will become homeless.

+1.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

We're retired at mid 50s last year. I can't comprehend questions like this from people who don't have the imagination to think up of hobbies they rather do than work. Didn't you ever want to learn a language, a musical instrument, martial art, spend more time to travel and visit old friends, etc...but never had the time because of work, kids, elderly parents and various responsibilities as an adult? Creativity is intelligence having fun...and when you own your time you can be as creative as you want, and mid day naps after meeting up with friends for lunch are great too.

Ha ha ha. I retired at 53 almost 8 years ago. I do nothing now, and it’s great. I’m also healthier. Anybody who thinks they need to work is crazy.

+1 I have bad sciatic issues from sitting too much working. I always say working (sitting) is bad for your health. There was about 18months when I didn't work, and I was in the best shape of my life.

I hardly sat. I was constantly doing stuff around the house, eating better, and had time to exercise and also relax. I'm hoping to retire in 3 years when I'm 56. I have private insurance now, so we'll keep that.

I hope to have about $2.8mil by the time we retire. Colleges all paid for. I can't wait.

Yep. It’s great! Most days I don’t even know what day of the week it is. I do whatever I want, which often amounts to nothing. But I’m never bored. Never. My worst day retired is better than my best day working. I spend more time with dogs now than I do people. It’s heaven.

I much prefer people to dogs. I suspect most people who love do nothing retirements are introverts.

We both retired young and I’m an extrovert. I’m also busy, just not going into work everyday.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Will retire at my MRA at 56.5 later this year. Combined w/ spouse’s Fed TSP $2.5 mil. Pension - 50K per year. Plus $300K in savings and social security. Owe about 350k on house - that’s the only debt.

And do what?

We're retired at mid 50s last year. I can't comprehend questions like this from people who don't have the imagination to think up of hobbies they rather do than work. Didn't you ever want to learn a language, a musical instrument, martial art, spend more time to travel and visit old friends, etc...but never had the time because of work, kids, elderly parents and various responsibilities as an adult? Creativity is intelligence having fun...and when you own your time you can be as creative as you want, and mid day naps after meeting up with friends for lunch are great too.

Ha ha ha. I retired at 53 almost 8 years ago. I do nothing now, and it’s great. I’m also healthier. Anybody who thinks they need to work is crazy.

+1 I have bad sciatic issues from sitting too much working. I always say working (sitting) is bad for your health. There was about 18months when I didn't work, and I was in the best shape of my life.

I hardly sat. I was constantly doing stuff around the house, eating better, and had time to exercise and also relax. I'm hoping to retire in 3 years when I'm 56. I have private insurance now, so we'll keep that.

I hope to have about $2.8mil by the time we retire. Colleges all paid for. I can't wait.

Yep. It’s great! Most days I don’t even know what day of the week it is. I do whatever I want, which often amounts to nothing. But I’m never bored. Never. My worst day retired is better than my best day working. I spend more time with dogs now than I do people. It’s heaven.

I much prefer people to dogs. I suspect most people who love do nothing retirements are introverts.

We both retired young and I’m an extrovert. I’m also busy, just not going into work everyday.

So interesting to see posters who can’t retire early (either for financial or psychological reasons) taking shots at those who can and do. One wonders if there’s jealousy involved.

[Anonymous]

65

$2M

[Anonymous]

52 at the end of June from my current full-time job, but I'll continue to do something part-time after that. Pensions will be between $6,400 and $7,300/mo depending on various options.

I have a 403b that I started about 28 years ago, but I'm not planning on using that as an income source. Spouse will still work full-time so we'll keep the healthcare through that job.

[Anonymous]

Anonymous wrote:Include home equity amount in the total but indicate it in parentheses.

Retiring at age 54 this year. DH will be 61. (House entirely paid off & worth $700K.)

No debt. Kids all through college, that we covered. $3 million in retirement savings, $300,000 cash, and no pension (business owners).