Reply to 50 year olds - how much retirement $ do you have saved?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]49 married. My assets:
1m in retirement funds
600k home equity
80k emergency fund
600k in 529 for my two kids

Dh’s $$$ are very similar

I wanna retire when I’m 62… tick tick tick[/quote]

What is stopping you from retiring now?  This looks like enough for one person in a couple who has kids' college covered and their partner has about the same $$.  I guess you could use a bit more in nonretirement funds to bridge the gap until you're 59 and can access retirement funds without penalties, but who do you think you need to work until you're 62? [/quote]

I need the kids to at least finish college then I will reconsider.  I think I don't have enough to bridge the gap until 59. [/quote]

Different poster. I’m in a similar boat (but age 51 and colleges paid for) and I can’t imagine retiring at this age with these assets. What does that look like?

I hope I never need assisted living but I also don’t want to burden my children. It’s $$$. There’s a good chance I’m going to live to 90 (my parents are in their 80s and healthy). $1 million isn’t enough for me to live on for 40 years. What is that $30k a year + SS in my mid-60s? What am I missing?[/quote]

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