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Reply to "At what age do you plan to retire?"
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[quote=Anonymous] At what age would you like to retire? 53 (me), 55 (DH) How old will your kids be? 24 & 22 Would you voluntarily retire later to earn extra money to help your kids pay for college? Grad school? A wedding? We expect to have the money for grad school and weddings when we retire. If your mortgage and childcare expenses are paid off by the time you retire, how much (or what percentage of your current income) will you need when you retire per year? This is hard to determine. We expect the house to be paid off (or have the money to pay it off) and that will be our biggest expense. We plan to keep our house in NoVa for a few years, until the kids are settled, but also have a smaller home in a better climate. Once we sell the NoVa house, we will be able to pay off the retirement home and need much less money to live. [/quote]
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