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LSU6262
LSU Fan
Member since Jun 2008
4822 posts

Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
And let's take the risk of dying early off the table. Assume you live to 85 in both scenarios


rpg37
LSU Fan
Member since Sep 2008
33395 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

Assume you live to 85 in both scenarios


This is a misconception. Retiring early reduces stress and should prolong life assuming you're not an idiot.


TigrrrDad
Member since Oct 2016
3852 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
Retiring early isn’t all it’s cracked up to be unless your wife and all your friends are too. My wife works because she wants to and enjoys her job. I sit home all week long by myself playing Mario Kart, killing zombies on Call of Duty, playing guitar, napping, watching tv...it’s boring as frick.


wfallstiger
LSU Fan
Wichita Falls, Texas
Member since Jun 2006
5828 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
I semi-retired at 62, lasted 5 months, withdrew retirement, repaid SSA.

Totally new field, having fun.


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110
Fat Bastard
Boston College Fan
Member since Mar 2009
39828 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

I sit home all week long by myself playing Mario Kart, killing zombies on Call of Duty, playing guitar, napping, watching tv...it’s boring as frick.








fallguy_1978
LSU Fan
Half mile from St George
Member since Feb 2018
11828 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
My dad retired in his mid 50s. I'd take that over another 10 years of work.


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210
Breadcrumbs
LSU Fan
Baton Rouge
Member since May 2005
2942 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
what about age 60? split the difference.

I think I would regret it financially at age 55. I will be very tired and overworked at age 65. I think the right answer is age 65, I fear.


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70
EA6B
Navy Fan
TX
Member since Dec 2012
9444 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
I retired at 56, I am 64, and it has been a great 8 years, I stay very busy and lack of money is not keeping me from doing the things I like to do. My kids are well educated and have careers, I have already done a lot for them, if there is nothing left for them when I am done they will be fine. My only regret is not retiring even earlier.


Teddy Ruxpin
LSU Fan
TX
Member since Oct 2006
32919 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
There's always volunteering to stay busy in "Retirement."


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TigrrrDad
Member since Oct 2016
3852 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
Former partner: “I did 2 root canals, 4 extractions, a crown, and 8 fillings today.”

Me: “I beat my best lap time on Koopa Cape, but kept falling off a mushroom on Mushroom Gorge.”
This post was edited on 2/6 at 10:46 pm


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
27731 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

I sit home all week long by myself playing Mario Kart, killing zombies on Call of Duty, playing guitar, napping, watching tv...it’s boring as frick

I'll trade you. you can go to the office for me and i'll stay home and keep the tv warm.


FriscoTiger
LSU Fan
Frisco, TX
Member since Aug 2005
1322 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
The real question is how much do you need in the bank to retire at 55. Assuming no debt and no pension. So you have to pay for insurance until Medicare age.
1.5, 2 mil or more?


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
27731 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

The real question is how much do you need in the bank to retire at 55. Assuming no debt and no pension. So you have to pay for insurance until Medicare age.
1.5, 2 mil or more?

well you need to be able to live for 30 years. and assuming you don't want to live like a pauper 1.5mill could work some places i'd imagine. 50k a year but if you could squeeze down another 5k you could live off interest of 1.5 for a while probably.

Housing is a big question here though. If your house is paid for then 1.5 would be pushing it and not super enjoyable retirement as you would need to be frugal. certainly wouldn't cover any later care you might need.

2 million is probably realistic in a lower cost of living area.

neither of thsoe come close if you want to live somewhere in a city though.

there are so many lifestyle variables it's hard to put a general number. if it was just me I could make 1.5 mill work, however with the wife and lifestyle we enjoy it's not reasonable unfortunately.


cave canem
Mississippi St. Fan
pullarius dominus
Member since Oct 2012
8991 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
I plan to "retire" from my career at 50 next year, I will never fully retire though and will always keep a bit of something going to keep me busy and provide spending money.

My wife will likely work till she dies because she loves her job though.


FriscoTiger
LSU Fan
Frisco, TX
Member since Aug 2005
1322 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
Once you hit 65 you will get SS & Medicare which should offset monthly expenses.
I guess it all depends on how bad you want to retire early.


Twenty 49
LSU Fan
Shreveport
Member since Jun 2014
11007 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
A friend who had a mentally taxing job retired at 50. I thought she was crazy because her work had been her life, but she really enjoyed retirement. Picked up new hobbies and totally changed her lifestyle and happiness. Best thing she ever did.

I'm probably going to do until 62, when my retirement benefits will bump up a level. Going before then causes too big a hit.


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kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
59449 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

retire at 55


baldona
Auburn Fan
Florida
Member since Feb 2016
8901 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
I say this all the time on here, there’s retire and there is financial independence. Retire is stop working basically completely, financial independence is work because you want to.

You can retire from your career to have financial independence but find some additional means of income to supplement you. Even $5-10k in retirement can be a considerable bump for someone with $60-80k of income.

I will tell you one thing to consider is most people’s bodies are considerably less capable and considerably more prone to physical injury at 65 than 55. You don’t see many 65+ year olds skiing for example, tons of 55 year olds.


jeffsdad
Member since Mar 2007
10297 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
Agree TigrrrDad, its also making my wife jealous. but she, like yours, loves her job.


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Statestreet
LSU Fan
Gueydan
Member since Sep 2008
10035 posts

re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
quote:

Former partner: “I did 2 root canals, 4 extractions, a crown, and 8 fillings today.”



that sounds miserable


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