Reply to Should I stop daydreaming about retiring at 55?

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[quote=Anonymous]I think this is reasonable.

We have similar plans though all our numbers are different (we have a pension in the mix but also have a higher mortgage payment we intend to get rid of completely by 55) and I think the key is one kid. We may work a  bit longer because our kid will graduate high school when we hit 55 so depending on the college situation we may stay in jobs at least a couple years so that we have a buffer for any extra costs associated with that (the 529 is in great shape but I think about stuff like travel costs or needing to support her during a summer internship) but otherwise we're on target to retire between 55 and 58. Actually DH may retire earlier to start collecting his pension but will likely stay on consulting for a bit just to keep our total income the same until I retire so we can continue to max out retirement accounts.

Actually working part-time or in a consulting capacity even into our 60s is appealing to both of us because I think ti can ease the transition to retirement (you are still doing things and feeling useful) plus having ordinary income has some benefits so you don't jump straight to drawing down retirement accounts for all your living expenses. It might be something to keep in your back pocket as an option OP.[/quote]

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