Is retirement an age or an asset number for you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Healthcare is something to figure in. For most it will not be affordable before 65. Unless you build it into your number.

Helps if you have federal healthcare in retirement

They could take it away.

[Anonymous]

Political situation is too chaotic right now.

[Anonymous]

Asset number, which meant retirement came at 47. Way earlier than I would have anticipated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Both. I feel like I need to work until both kids are out of college no matter the asset number.

Anyone else feel that way?

OP here. I wish there were a way to pause a career and then resume it many years later with no financial consequences. I would rather stop working now until the kids leave for college, and then spend the years after that working until retirement.

Same here, OP!

[Anonymous]

Anonymous wrote:

Anonymous wrote:it's a cash flow number.

I want 25k a month to spend. Once i can get that from any source - investments, real estate or other passive income streams... I am done

So you want $12 million.

$12 million gets you way more than 25k a month. -- that gets you 40k.

[Anonymous]

A number. I couldn't care less about working for a living. Unfortunately, I will continue to be the wage slave that I am.

[Anonymous]

Anonymous wrote:it's a cash flow number.

I want 25k a month to spend. Once i can get that from any source - investments, real estate or other passive income streams... I am done

Just make sure that 25K "needs/wants" includes $2K+ for medical, because that is what a decent plan costs now, and it will have a high deductible in most states. So beyond your $20-30 copays for doctors visits, you will be paying $5-7K per person until you meet the deductible for most other things.

[Anonymous]

Anonymous wrote:Healthcare is something to figure in. For most it will not be affordable before 65. Unless you build it into your number.

Yup!

A silver EPO (so not coverage beyond Urgent care and ER outside of your area/state) in my area will cost $2-2.5K for two of us in our mid to late 50s, with $7K per person deductibles. So outside of doctors appointments, we will be paying the negotiated rate on anything else until deductible is met.
So not undoable, but it is much more than the $400/month with a $1K dedcubitle we currently have

[Anonymous]

Another consideration for us was RMDs. Our 401K balances are high and we’ll get a tax bomb if we don’t start Roth Conversions early.

[Anonymous]

Retirement is "when I lose my s%&t and have to leave" kind of thing for me.


-a 50 yr old teacher who came pretty close this week

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A number. TikTok will keep me up to date on societal trends.

It's not social trends. It is the active use of your brain. Reading and hobbies are all great but they will not replace work for keeping your brain trained and sharp. If you are 60 today and in good health -- living to 90 is not crazy. That is a long time with brain decline which does happen when work ends.

The right reading, hobbies, volunteering, crosswords and other games and gathering with friends can keep your brain from declining. It's a strange notion that you "must keep working to avoid brain drain".

Reading, hobbies and volunteering aren’t the same - you’re not accountable for your work product.

So the only way to live life and keep your brain healthy is to Hold a job and "be accountable for your work product"? If so, I guess just keep working until the day you die.

However, I will be retired, enjoying life, traveling and doing everything we desire and not having to worry about reporting back to anyone (other than letting our kids know where we are on this trip).

[Anonymous]

Here is my question if you are a married man with a Stay at home wife what is in it for her for husband to retire before 67?

I mean she finally has a taste of freedom after raising 2-4 kids. Her husband is bringing in good income. She is most likely 2-4 years younger so her medical depends on him. Her income stream is cut greatly if he retires before full retirement age of 67. She gets stuck with expensive medical bills and now she has to deal with him getting in the way and wanting breakfast and lunch.

My math the absolute earliest I can retire is 67 as wife will almost be 65 after I get my bonus for year then we can do Cobra a few months and go straight to medicare for her.

[Anonymous]

Anonymous wrote:Another consideration for us was RMDs. Our 401K balances are high and we’ll get a tax bomb if we don’t start Roth Conversions early.

who cares. My mom waited till she had to do RMDs and then did minimum she then split it up 4 ways when she died to the kids. Then kids have ten years to pull it out. Allowing it to grow even more. And the tax bracket is not bad since split four ways kids are taxes way less on RMDs.

[Anonymous]

Anonymous wrote:Here is my question if you are a married man with a Stay at home wife what is in it for her for husband to retire before 67?

I mean she finally has a taste of freedom after raising 2-4 kids. Her husband is bringing in good income. She is most likely 2-4 years younger so her medical depends on him. Her income stream is cut greatly if he retires before full retirement age of 67. She gets stuck with expensive medical bills and now she has to deal with him getting in the way and wanting breakfast and lunch.

My math the absolute earliest I can retire is 67 as wife will almost be 65 after I get my bonus for year then we can do Cobra a few months and go straight to medicare for her.

Well if you are not a needy jerk of a husband, most spouses actually enjoy spending time together.
But my spouse recently retired, in late 50s, I was SAHP and yes it's an adjustment, because other than the kids being not physically at home, I still manage anything from them (one in college, one launched) when they have questions/concerns, I still do everything I was always doing. The Perks are, if you have the funds, we are now traveling a ton and it's less stressful as we don't have to get up for work at ridiculous hours. But yeah the few years both kids were gone from the home and spouse was still working was a nice break on many levels.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here is my question if you are a married man with a Stay at home wife what is in it for her for husband to retire before 67?

I mean she finally has a taste of freedom after raising 2-4 kids. Her husband is bringing in good income. She is most likely 2-4 years younger so her medical depends on him. Her income stream is cut greatly if he retires before full retirement age of 67. She gets stuck with expensive medical bills and now she has to deal with him getting in the way and wanting breakfast and lunch.

My math the absolute earliest I can retire is 67 as wife will almost be 65 after I get my bonus for year then we can do Cobra a few months and go straight to medicare for her.

Well if you are not a needy jerk of a husband, most spouses actually enjoy spending time together.
But my spouse recently retired, in late 50s, I was SAHP and yes it's an adjustment, because other than the kids being not physically at home, I still manage anything from them (one in college, one launched) when they have questions/concerns, I still do everything I was always doing. The Perks are, if you have the funds, we are now traveling a ton and it's less stressful as we don't have to get up for work at ridiculous hours. But yeah the few years both kids were gone from the home and spouse was still working was a nice break on many levels.

But your husband puts you in a bad spot if you outlive by a lot. .

My mom was a widow 25 years. Having reduced SS and 401k from husband retiring early is also hard on a SAHM wife. My MIL is 84 and her husband retired 65 and died 74. But my MIL is pushing 85 in his full SS.