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Started By
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re: Appropriate Age to Retire?
Posted on 8/14/19 at 6:07 pm to 777Tiger
Posted on 8/14/19 at 6:07 pm to 777Tiger
quote:
that was always my target, and I was ready to go at 55, but when I got there, there was really not a good reason to leave
One more year working is massive for the vast majority of potential retirees. One more year of saving, one more year of growth, one less year of reliance on assets, etc.
This post was edited on 8/14/19 at 6:08 pm
1
Posted on 8/14/19 at 6:08 pm to Sweltering Chill
I'm 42, I want to stay at my current job till I'm about 55-57. By that time my house should be paid for and the kids should be gone. I plan to work part time then, maybe sell minnows at a bait shop or something.
Posted on 8/14/19 at 6:11 pm to fallguy_1978
This is it for me. Without company group health, I'm looking at almost $3000/ month for wife and I. We have the money, and rental property, but not enough to cover that kind of insurance, especially with the rate going up each year. The day I'm 65 and can get Medicare, I'm in Grand Isle with a rod in one hand, and a Bud Light in the other.
Posted on 8/14/19 at 6:15 pm to slackster
quote:
One more year of saving, one more year of growth, one less year of reliance on assets, etc.
agreed, assuming the individual can be disciplined enough to treat it this way, I have peers that are making $500-700k right now and are set in every financial way to go but are hedging bets by contingency planning to have to possibly pay for health coverage for two, so they're saying I'm going to stick around for one more year and 100% of net income goes to budget for health insurance, just in case
Posted on 8/14/19 at 6:22 pm to 777Tiger
quote:
I have peers that are making $500-700k right now
Nice, what kind of business?
Posted on 8/14/19 at 6:24 pm to Oddibe
I’ve never been bored with retirement. Almost 8 years now.
Posted on 8/14/19 at 6:28 pm to Sweltering Chill
It depends on what you're comfortable with income wise.
I'm 48 and could probably retire at 55 very comfortably, but I don't mind my job and will probably go until 65.
I'm 48 and could probably retire at 55 very comfortably, but I don't mind my job and will probably go until 65.
Posted on 8/14/19 at 6:29 pm to Sweltering Chill
36.. i can draw retirement at 50... so im out then
Posted on 8/14/19 at 6:30 pm to Sweltering Chill
quote:That's not enough to retire on at 65, much less 55.
Seriously? I honestly think i could retire, and make it to 80 or 90 yrs old, on like $500k...
Posted on 8/14/19 at 6:31 pm to Sweltering Chill
37, retiring at 42.
MAGA
MAGA
Posted on 8/14/19 at 6:33 pm to Sweltering Chill
Several of our friends retired at 55. They all have about 2-3 million in the bank.
I work 2 days a week and my SO is retired.
The key is having something to do during the day, like exercising, gardening, fishing, golfing or whatever. You can get pretty bored with nothing to do. And you need the money to do these things.
I work 2 days a week and my SO is retired.
The key is having something to do during the day, like exercising, gardening, fishing, golfing or whatever. You can get pretty bored with nothing to do. And you need the money to do these things.
Posted on 8/14/19 at 6:34 pm to Sweltering Chill
I plan to partially retire at 55, but I will never fully retire. As long as my brain is still functioning, I'll probably keep on working.
Posted on 8/14/19 at 6:38 pm to HECM62
quote:
This is it for me. Without company group health, I'm looking at almost $3000/ month for wife and I. We have the money, and rental property, but not enough to cover that kind of insurance, especially with the rate going up each year.
Just another way in which socialized medicine would make life better for everyone. Think about the all the businesses that would get started if people didn't depend on their jobs for healthcare insurance. Private insurance is the #1 inhibitor of entrepreneurialism in America today.
And yea -- retirement would be a lot easier, too.
This post was edited on 8/14/19 at 6:39 pm
Posted on 8/14/19 at 6:39 pm to Sweltering Chill
quote:
I honestly think i could retire, and make it to 80 or 90 yrs old, on like $500k..
If I could live to 80-90 on $500k I would have retired 5 years ago.
Posted on 8/14/19 at 6:43 pm to Jake88
quote:
i honestly think i could retire, and make it to 80 or 90 yrs old, on like $500k...
That's not enough to retire on at 65, much less 55.
It is if you’re creative, and are willing to move to a cheaper country.
You’re assuming it wouldnt be enough given *your* lifestyle, preferences and location, not everyone’s.
Posted on 8/14/19 at 6:45 pm to Sweltering Chill
My dad just retired on Jan 1. He is 53. Seems like a nice age to me.
One of our good friends is retired. He's 37. That's a bit different though. He got into Bitcoin way before it was a thing and made ungodly amounts of money.
One of our good friends is retired. He's 37. That's a bit different though. He got into Bitcoin way before it was a thing and made ungodly amounts of money.
This post was edited on 8/14/19 at 6:46 pm
Posted on 8/14/19 at 6:49 pm to tgrbaitn08
quote:
If I could live to 80-90 on $500k I would have retired 5 years ago.
Not saying it’s right for everyone, but $500k invested and only earning 5% would give you $25k per year.. that’s over $2k per month, which is enough to live rather well in a country like Thailand or Malaysia or even Belize.. those places have much cheaper healthcare as well.. then at 62 or 67 you can collect SS no matter which country you live in, adding to your monthly nut.
Posted on 8/14/19 at 6:55 pm to Sweltering Chill
quote:
Not saying it’s right for everyone, but $500k invested and only earning 5% would give you $25k per year.. that’s over $2k per month, which is enough to live rather well in a country like Thailand or Malaysia or even Belize.. those places have much cheaper healthcare as well.. then at 62 or 67 you can collect SS no matter which country you live in, adding to your monthly nut.
Inlation bro.
A 5% reliance rate at 55 is a recipe for disaster. You need to work much, much longer.
Posted on 8/14/19 at 6:56 pm to FloridaRougaroux
How much are you paying?
Posted on 8/14/19 at 6:56 pm to Sweltering Chill
quote:
It is if you’re creative,
Why take all of the effort to do that? Work a bit longer, save and make it easier on yourself...unless you despise your job, I suppose.
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