Anonymous
01/17/2023 15:57
Subject: At what age will you retire and with how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I would look into a 55+ community when you are much older where you can have a support group around you.
If I were you, I'd go PT. Maybe consulting when you feel like it. And travel.
Everybody will need a 55+ community and support group for when they get older.
I am older and kids are not that helpful.
that's depressing.
Actually it's not. The over 55 community is amazing and people are very active and supportive. And your not holding your kids back.
Anonymous
01/17/2023 15:56
Subject: At what age will you retire and with how much?
We are 45 with $3M ($500K home equity). Kids in 9th and 5th grade. Not planning on retiring till kids are launched (done with college), so around 56/57. We want to pay the entire undergrad tuition, so I would think we would retire with ~$5M. We are relatively high earners $500K HHI (since 2021), so should at min be at $5M when the kids are launched minus any tuition cost
Anonymous
01/17/2023 15:55
Subject: At what age will you retire and with how much?
Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I don't understand how you couldn't retire now on $7M. No kids? Just you or is there a DH?
Anonymous
01/17/2023 15:50
Subject: At what age will you retire and with how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I would look into a 55+ community when you are much older where you can have a support group around you.
If I were you, I'd go PT. Maybe consulting when you feel like it. And travel.
Everybody will need a 55+ community and support group for when they get older.
I am older and kids are not that helpful.
I find my 55+ community is great, didn't even anticipate how great it would be. My adult kids are very helpful but my friends in my community are also wonderful.
Anonymous
01/17/2023 15:49
Subject: At what age will you retire and with how much?
Anonymous wrote:Anonymous wrote:65
Only SS and pension
40K in the bank but that was only because I lucked into an inheritance
100K in home equity that happened completely in the last two years, I only put 3% down on my condo
I retired three years ago and so far life is grand, I have enough to live on, good health insurance, and feel relatively financially secure despite not having the millions that DCUM seems to think is necessary for retirement.
A real pension is key and most people don’t have those. So we need to save a lot of cash.
That's true but my pension isn't very much although I've learned to live on it and SS and it's working fine for me. I do feel very lucky to have it though.
Anonymous
01/17/2023 15:48
Subject: At what age will you retire and with how much?
65 and 70
Will have a 2 pensions, with roughly $120K/year combined. Will both max SS or close depending on when we each start taking it
FEHB for healthcare
5M in TSP and retirement accounts
1M + in home equity - but likely not paid off
Both children out of college without debt (we are older parents, they should be a few years out by then)
Will have a 2 pensions, with roughly $120K/year combined. Will both max SS or close depending on when we each start taking it
FEHB for healthcare
5M in TSP and retirement accounts
1M + in home equity - but likely not paid off
Both children out of college without debt (we are older parents, they should be a few years out by then)
Anonymous
01/17/2023 15:25
Subject: At what age will you retire and with how much?
I'll retire whenever DH retires - he's older so we're on his schedule, and I'm not interested in working while he golfs all day. "My" NW (excluding home equity and DH's accounts) will be no less than $2m. DH has more.
Anonymous
01/17/2023 15:22
Subject: Re:At what age will you retire and with how much?
70
200k
200k
Anonymous
01/17/2023 15:17
Subject: At what age will you retire and with how much?
58
$3M in TSP (my and DH) + Fedpension & FEHB
No mortgage and I will receive a 7 figure inheritance.
$3M in TSP (my and DH) + Fedpension & FEHB
No mortgage and I will receive a 7 figure inheritance.
Anonymous
01/17/2023 15:15
Subject: At what age will you retire and with how much?
66
3 Million + Federal Pension & FEHB
(1.4)
3 Million + Federal Pension & FEHB
(1.4)
Anonymous
01/17/2023 15:12
Subject: At what age will you retire and with how much?
Anonymous wrote:I will never be able to retire. I will work until I drop dead. My worst nightmare would be becoming unable to work because then I will become homeless.
There's a lot of subsidized senior housing out there and many people get by on Social Security / Medicare. So have faith.
Anonymous
01/17/2023 15:07
Subject: At what age will you retire and with how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I would look into a 55+ community when you are much older where you can have a support group around you.
If I were you, I'd go PT. Maybe consulting when you feel like it. And travel.
Everybody will need a 55+ community and support group for when they get older.
I am older and kids are not that helpful.
that's depressing.
Anonymous
01/17/2023 15:06
Subject: At what age will you retire and with how much?
Anonymous wrote:Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I would look into a 55+ community when you are much older where you can have a support group around you.
If I were you, I'd go PT. Maybe consulting when you feel like it. And travel.
Everybody will need a 55+ community and support group for when they get older.
I am older and kids are not that helpful.
Anonymous
01/17/2023 15:05
Subject: Re:At what age will you retire and with how much?
IDK actually. Somewhere between 57 and 62.
I am single with 2 children in college. Both will be graduated in 3 years god willing.
I have $1.4M in TSP, I will have somewhere between $4K/mth-$6K/mth in pension.
I will have subsidized healthcare through the fed and then medicare.
My home is worth $700K and I owe $300K, should be paid off in 13 years (refinanced to 15 year mortgage 2 years ago).
I am single with 2 children in college. Both will be graduated in 3 years god willing.
I have $1.4M in TSP, I will have somewhere between $4K/mth-$6K/mth in pension.
I will have subsidized healthcare through the fed and then medicare.
My home is worth $700K and I owe $300K, should be paid off in 13 years (refinanced to 15 year mortgage 2 years ago).
Anonymous
01/17/2023 15:01
Subject: At what age will you retire and with how much?
Anonymous wrote:I’m 47 and have seven million and am starting to think that might be my answer. Tempted to quit.
No kids so no college expenses, but also no safety net when I’m old.
I would look into a 55+ community when you are much older where you can have a support group around you.
If I were you, I'd go PT. Maybe consulting when you feel like it. And travel.