At what age will you retire and with how much?
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Anonymous
| I will think about retiring when both my kids are graduated from college. I will be 56 by then and should have at least $5M, not including my house which is already paid off (~$950k). |
Anonymous
|
49
8M (1M) |
Anonymous
I have zero interest in one of those places. My grandparents lived in one - no way. |
that's depressing.
Anonymous
| I hope to by 55 with about $5M in retirement savings and paid off house. |
Anonymous
| Never. I have only $75K saved up at 47yrs old and have an unemployable husband. I'm hoping to die by 70 and just leave whatever little I have to my children. |
Anonymous
DP.. are you assuming that your kids will live near you to help you in your old age? Both my parent's and ILs are 85+, and they need help. Luckily, one of their children live near them, but my IL did have to move to be near one of their kids. It's hard to imagine how immobile we could be in our old age, but it does happen more frequently than we realize. I also realize that I will need to live in a very warm climate when I'm 75+ because at a certain age, apparently even 75F is too cold. I'm also seeing this with my parents and ILs. |
Anonymous
Sad. |
Anonymous
| I am hoping for 60. NW by then should be in the ballpark of $6M, with our home being paid off. (Currently worth ~$1.9M.) We’ll also habe DW’s federal pension. |
Anonymous
| 70. I like my job and it's fairly flexible. We have about 2.4 m and age 70 is 18 years away. Our current annual spending is about 80k/yr (not incl. retirement savings and health insurance) so I don't see much difficulty having our assets grow to support that--they basically just need to keep up with inflation. Right now we still also have kids at home and pay a mortgage so spending might even go down a bit, but it's hard to predict the future. |
Anonymous
| 50 with dual Fed pensions. |
Anonymous
| One thing that keeps me from retiring is not wanting to turn into my mom. Because she doesn't work, she is everyone's babysitter and my siblings take advantage of her sometimes. She is also my grandma's caregiver - her siblings assume since they work and she doesn't, she should do most of the harder jobs related to their mother's care. I feel bad thinking this way, but I am not looking forward to caring for babies or toddlers (I'm sure I'll dote on future grandchildren when I see them, but I've put in my time parenting already) or elderly relatives (I am just not good with that kind of stuff - happy to visit a lot, but the things my mom does for my grandmother are too much for me). It's probably silly to think this way, but just being here. |
Anonymous
Np Seems like you could have left that comment alone. |
Anonymous
| I intend to retire at 58, in about 2 years. I'll have my fed pension & health insurance and should have NW a little over $2 million (about $550k in home equity). I have enjoyed my job for most of my career and care about the mission. It's been challenging and at many times inspiring and exciting, but I am currently very overworked and burnt out and cannot see tolerating that much longer once I'm eligible for retirement. I'm done and just basically waiting it out. |
Anonymous
If I need it, I'll do it at that time. But multiple posters are encouraging others to go right from their SFH to a 55+ community, regardless of whether they need it or not. That's not for me. |
Anonymous
| I'm not sure. We have about $2.5m in invested assets, and are 50 and 54. No pension, and about $500k in home equity (though who knows these days). Likely won't retire before last kid finishes college (7-8 years from now), but equally unlikely that I'll work much past then. Seven years seems like a good target, provided reasonable health care is available pre-Medicare. I (the higher earner) might also take a much lower stress, lower paying job and stop making retirement contributions, on the theory that we have enough and it will likely grow in the coming years. |