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Reply to "At what age will you retire and with how much?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Include home equity amount in the total but indicate it in parentheses.[/quote] 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). [/quote] very similar to us. Will retire at 56 and 62. Hoping to hit $3mil in retirement savings, with about $300K in cash. We will have about 9 yrs left on our mortgage, but the PITI is like $1400, 2.5% rate, but the mortgage balance is like $150K. House is worth right now about $950k. Kids will be in college, fully funded in state. Also business owners. No inheritance. I might work PT off and on to fill my days when I'm not traveling. I want to travel 3 to 5 months out of the year. We have friends/family all over the world that we can stay with. We might even retire short term abroad - spouse is a dual citizen. I am counting down the days.[/quote] $3M doesn’t seem like nearly enough, especially for someone in their 50’s who could live 40 more years. [/quote]
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