did your parents retire yet?

[Anonymous]

My dad has retired ... Twice

He retired from a school system in md at 55. He then moved to a different state and started a pt job at a community college. He was not renewed there under bizarre circumstances a few years ago and started job hunting closer to us. He wound up getting another pt job at a community college in VA and worked 3 years until he finally called it quite this year at 66.

My mom retired at 62, but had been caring for her mother for several years -she passed this summer

We shall see. They have been visiting at our house a lot in the past couple months. They love spending time with their grandchildren.

[Anonymous]

Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

[Anonymous]

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

[Anonymous]

$3k/month is pretty damn good for soc sec benefits.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

Yes, it's worth about $75k. And it's $3k total, each has a little more than $1k in SS monthly. Their parents lived to be 93 and 94.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

Yes, it's worth about $75k. And it's $3k total, each has a little more than $1k in SS monthly. Their parents lived to be 93 and 94.

Depedning on where they live, it is very doable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

Yes, it's worth about $75k. And it's $3k total, each has a little more than $1k in SS monthly. Their parents lived to be 93 and 94.

Depedning on where they live, it is very doable.

It's not when they spend it like its water and poo poo any suggestions to be cautious and, say, not buy a new car every 3 years in addition to having 2 iPads, 2 kindles, 2 laptops, 2 iPhones and the latest TVs in every room.

And even if they were frugal, you really think $100k is going to last 2 people 25 years (conservative guess)? One illness and they're done

[Anonymous]

Anonymous wrote:Yes. They retired when my dad was 58 and my mom was 56. They were small business owners and sold their business. My mom died when she was 74. Dad is now 82.

My FIL retired at 55. He died when he was 88. Mil is now 82.

DH retired when he was 56. I am a SAHM and 49.

Wow. What did/does everyone do with their time?

[Anonymous]

My mother retired at 62, her partner at 65. My step-mother retired at 60 and my father is currently 74 with no plans to retire. I think he mentioned he'll think about it in 2016.

My mom and step-mom both have lots of hobbies and things to keep them busy outside of work. My father writes computer programs at work and essentially does the same thing at home with his free time. So why not keep getting paid for it, since he likes it? He'll continue to do it after he retires I'm sure. I'd like him to retire because he has more money than he knows what to do with so he might as well enjoy it while he's here! He's a very frugal man.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

Yes, it's worth about $75k. And it's $3k total, each has a little more than $1k in SS monthly. Their parents lived to be 93 and 94.

Depedning on where they live, it is very doable.

It's not when they spend it like its water and poo poo any suggestions to be cautious and, say, not buy a new car every 3 years in addition to having 2 iPads, 2 kindles, 2 laptops, 2 iPhones and the latest TVs in every room.

And even if they were frugal, you really think $100k is going to last 2 people 25 years (conservative guess)? One illness and they're done

Right, I think the estimate is a million dollars per person in total assets to retire comfortably. YIKES!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes. They retired when my dad was 58 and my mom was 56. They were small business owners and sold their business. My mom died when she was 74. Dad is now 82.

My FIL retired at 55. He died when he was 88. Mil is now 82.

DH retired when he was 56. I am a SAHM and 49.

Wow. What did/does everyone do with their time?

Take care of the grand kids.

[Anonymous]

Both are retired, but mom is still working part-time. Dad worked part-time for many years, but has been REALLY retired for about 2-3 years now. They are both 76.

I think it was good for them to keep working, even if scaled back. Not because they need the money, but to keep active and to just have a reason to leave the house every day.

[Anonymous]

No. Mom is 66 and dad is 72. Both love their jobs so I they'll keep going for years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inlaws retired at 63 and 64 with $100k retirement savings and Social Security of about $3k/month.
Awesome.

Do they own their house?

Yes, it's worth about $75k. And it's $3k total, each has a little more than $1k in SS monthly. Their parents lived to be 93 and 94.

Depedning on where they live, it is very doable.

It's not when they spend it like its water and poo poo any suggestions to be cautious and, say, not buy a new car every 3 years in addition to having 2 iPads, 2 kindles, 2 laptops, 2 iPhones and the latest TVs in every room.

And even if they were frugal, you really think $100k is going to last 2 people 25 years (conservative guess)? One illness and they're done

It is the social security that will last them the 25 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. They retired when my dad was 58 and my mom was 56. They were small business owners and sold their business. My mom died when she was 74. Dad is now 82.

My FIL retired at 55. He died when he was 88. Mil is now 82.

DH retired when he was 56. I am a SAHM and 49.

Wow. What did/does everyone do with their time?

Take care of the grand kids.

DH and I are 55 and 51, still working and still have kids in school. Grandchildren are on the far away horizon. Dealing with aging parent at the moment.