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re: What age do you think you'll retire and how much do you think you'll have
Posted on 10/19/24 at 11:08 pm to Drizzt
Posted on 10/19/24 at 11:08 pm to Drizzt
Did any of y’all quit working before kids in college? I’ll be setup to retire from my career in my early 50’s but my last kid won’t finish high school till I’m 59. I think it would be weird to just hang out all day while they are in school.
4
Posted on 10/19/24 at 11:45 pm to Fat Bastard
quote:
all that extra money to invest with for 12 years is mind numbingly fantastic.
Do you at least acknowledge you would have been better investing instead of paying off the mortgage…
Posted on 10/19/24 at 11:48 pm to JL
quote:
Did any of y’all quit working before kids in college? I’ll be setup to retire from my career in my early 50’s but my last kid won’t finish high school till I’m 59. I think it would be weird to just hang out all day while they are in school.
If I am not financially independent by the time my kids are in college, then something went very off plan. Being financially independent =\= me sitting on arse doing nothing.
Posted on 10/19/24 at 11:58 pm to JL
I mostly retired when oldest was going into 6th grade and youngest 4th. It's been great being able to attend all events and coach their teams with no concern for getting time of from work etc... I do some occasional part time work (some from home so travel) and we talk to the kids about how we got here and that I could work fulltime if we wanted more stuff but time w family is more valuable (they agree so far just couple years in.)
Posted on 10/20/24 at 12:24 am to JL
I've still got one in high school. I'm not one of those people who has difficulty finding things to do, and one great thing about being retired is that you can choose to chill out. Having said that, I'm able to be there for my children for whatever they need. I feel healthier and definitely less stressed. I worked hard to be in this position, so I don't feel guilty about ANYTHING I do.
Posted on 10/20/24 at 8:37 am to RoyalWe
Oh I’ll definitely stay busy. My wife is younger so if she wants to stay working I’ll be dropping off kids in flip flops and shorts every day I guess.
Posted on 10/20/24 at 9:30 am to JL
quote:
I think it would be weird to just hang out all day while they are in school.
If you are going to do this, don’t retire. Sitting at home all day isn’t healthy. If you can retire early, why not have a plan to work part time or start a part time business in something you enjoy? You maintain some income but more important have a purpose in life. Doing nothing sounds great until you do it for 3 months.
Posted on 10/20/24 at 10:30 am to Drizzt
quote:
Doing nothing sounds great until you do it for 3 months.
This is the truth. Without work there is no leisure.
Posted on 10/20/24 at 10:26 pm to Thundercles
I think I can get to a point where my dividend income exceeds my salary by age 50. All safe growing dividends.
Posted on 10/20/24 at 11:04 pm to Thundercles
I'd like the *option* to at 50. I should have enough paid off rentals to support us but really would like to work. I need the routine. Gotta have something to live for.
Posted on 10/21/24 at 12:09 am to Tenfold
My goal has been $100k per month net personal cash flow. Got pretty close and then we sold some companies. I can tell you that I feel better with the personal monthly cash flow than I do with a large investment portfolio.
Posted on 10/21/24 at 2:23 am to Thundercles
62, 1 mil
Pension, SSI, no debt I couldn’t pay off if I felt like it.
Play golf, help out with grandkids, go to the beach occasionally with the wife.
Don’t really need a huge amount to just be happy.
Pension, SSI, no debt I couldn’t pay off if I felt like it.
Play golf, help out with grandkids, go to the beach occasionally with the wife.
Don’t really need a huge amount to just be happy.
Posted on 10/22/24 at 11:35 am to BLM
quote:No doubt, income is very comforting - even if the taxes are worse.
. I can tell you that I feel better with the personal monthly cash flow than I do with a large investment portfolio.
Posted on 10/22/24 at 12:55 pm to Thundercles
60-62 and expect to have 3.5-4.0MM in retirement accounts and will then conservatively expect to receive $2M of after-tax proceeds from the sale of my business. Also planning to still have at least one vacation or college town rental property that I can either sell or generate income from.
Posted on 10/22/24 at 12:58 pm to Thundercles
As long as I can be productive- I work
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