When do you plan to retire?

DH27

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So I must look old as most of my hair is now platinum blonde (gray). Every time I see an old friend they always ask me the same thing, "are you retired yet"? I tell them no thanks to a GM bankruptcy and Mr. Madoff and his pyramid scheme the two pensions I have will be very small.
I have saved a lot and January 2020 is emancipation day. I will be 59 1/2 and will access to my 401Ks. I most likely will not pull the plug then but when asked the retirement question of when, I usually reply 1/2 hour to 3 years just pi$$ me off.

My questions to the group is when do you plan to retire? Is life on track or kicking you in the groin? And what is your plan once retired, golf,hobby job, volunteering, or couch potato?
 
I am 58 an plan to keep going until at least 62 but probably longer. May “retire” at 62 but keep working as a contractor or in a 2nd career. I am not going to sit around, I watched my dad deteriorate doing that.


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I dont think that I will ever truly retire. Im 39 now and have worked factory jobs since I was 18. I work in a car plant now and has a wife who makes good money (6 figure income) and she would like me to quit working in a factory and do something that isnt so hard on the body by the time Im 50.
My plan when I turn 50 is to be at a point where I have no credit card debt and can afford to just quit working and go back to school. My plan is to go to school to be a barber and get a job cutting hair in a barber shop and then do that for as long as my body will allow.
I have no plans to fully retire and just be on vacation every day though. I feel like, as long as my body will allow it, I will always do some kind of work, even if that means Im just voulenteering as a starter/ranger at a golf course.
 
Yeah I'm somewhat hesitant to say that I'll ever be able to retire. I too am 39 and I'm going on 17 years with telecommunications industry. I always hoped for 65, but the way things look who knows.
 
i'd love to retire in my early to mid 60s. i just don't see how that's a possibility financially, unfortunately.
 
I’m 41 and I said at 25 I was going to be retired by 50. I still think this may be possible.
 
Not real sure. I've got all my eggs in the Powerball basket, so we'll see how that works out...
 
I am 33 right now and I plan on retiring at 50 (Government pension). My wife will continue working and will more then likely seek part time employment at a golf course or something to get the golf perks of working there.
 
I'm 38 & have no clue when/if I'll be able to call it a career.
 
The real problem with retiring early is the health insurance. My wife runs her own small business and gets health benefits through my employment. I am 48 and would like to retire by 60, it is just that damn health insurance that worries me. I have seen a couple of people sent to the poor house because of piss-poor planning in this area.
 
My wife wishes I would now, not a true retirement mind you, but me staying home to tend the homestead and kiddos.
 
Danimal;n8886840 said:
The real problem with retiring early is the health insurance. My wife runs her own small business and gets health benefits through my employment. I am 48 and would like to retire by 60, it is just that damn health insurance that worries me. I have seen a couple of people sent to the poor house because of piss-poor planning in this area.

A friend of mine's wife retired early & forcing him to work another 3 years so she could have insurance. He'll be 67 & would love to call it.
 
I did a little over a year and a half ago about 1 month shy on my 53rd birthday. So far so good and playing golf an average of 5 times per week. Will eventually have to do something part time just to avoid taking 3 goose eggs on my social security calculation.
 
I have put next to zero thought into it.

My goals are more forward. Get my Son into an excellent college to propel his life forward, pay off my house, and plan for a future of happiness with my wife.

Retirement will be there when I am ready and I am not counting down the years or days. Everything is in place.
 
Canadan;n8886892 said:
I have put next to zero thought into it.

My goals are more forward. Get my Son into an excellent college to propel his life forward, pay off my house, and plan for a future of happiness with my wife.

Retirement will be there when I am ready and I am not counting down the years or days. Everything is in place.

That is a great thought process. I have lived by this ethos and it seems to work, even when setbacks occur. Dust yourself off and continue to move.
 
Greg Kulbick;n8886752 said:
Not real sure. I've got all my eggs in the Powerball basket, so we'll see how that works out...

I'm waiting on that guy to give me $10 mill to give up golf!

Kidding aside, my wife is semi-retired. She'd like me to retire now (or find a more suitable gig time-wise) so we can travel more. But, my sister and brother would never step up to help take care of Mom so to work I continue to go.
 
I'm 47 now. I'm have to work at minimum to age 57 for my pension. I think 61 would be about the longest I would go.
 
Such a good question. My pension maxes out at the end of this year, so I have no incentive to keep working except for the cost of medical. The ACA has raised my post retirement insurance costs considerably and has reduced my once golden options to a high deductible plan. So basically, anywhere from Jan to Aug of next year. The other problem is I live in a high tax state (CA) and want to move out badly, but my youngest son still lives here and he and his wife will be having kids soon (I want to be around for my grand kids). Decisions, decisions. Oh, plan on golf twice a week and mountain biking twice per week until my body gives out.
 
I can retire at 60 on the company pension but my daughter’s last year of college will push that out by 3 years, so 9 years from now when I’m 63. I doubt I will fully - do absolutely nothing - retire. I expect I’ll have a very part time job doing something.
 
Danimal;n8886840 said:
The real problem with retiring early is the health insurance. My wife runs her own small business and gets health benefits through my employment. I am 48 and would like to retire by 60, it is just that damn health insurance that worries me. I have seen a couple of people sent to the poor house because of piss-poor planning in this area.

Thankfully, the healthcare side is the least of my worries. I'm already on my first retirement. After 20 years with the AF, I pay <$50/month for healthcare for the entire family (well, until the wife went on dialysis and they forced her into Medicare for ~$130/month). Anyway, that's another story all together.

As for the OP, I plan to retire (the 2nd time) at 61 years, 1 month, and 24 days. That's when I'll hit my 20 year mark and be eligible for full retirement from my federal job. Our plan? Travel. Domestic, international, you name it, we're gonna do it. For the domestic portions, I wanna either get an RV or 3/4 ton/travel trailer setup and just drive. As long as I've got room for golf clubs, I'll be good to go.
 
Danimal;n8886840 said:
The real problem with retiring early is the health insurance. My wife runs her own small business and gets health benefits through my employment. I am 48 and would like to retire by 60, it is just that damn health insurance that worries me. I have seen a couple of people sent to the poor house because of piss-poor planning in this area.

The health insurance is definitely a huge deterrent. One bad thing and all your savings are gone.
 
ULEWZ;n8886960 said:
Such a good question. My pension maxes out at the end of this year, so I have no incentive to keep working except for the cost of medical. The ACA has raised my post retirement insurance costs considerably and has reduced my once golden options to a high deductible plan. So basically, anywhere from Jan to Aug of next year. The other problem is I live in a high tax state (CA) and want to move out badly, but my youngest son still lives here and he and his wife will be having kids soon (I want to be around for my grand kids). Decisions, decisions. Oh, plan on golf twice a week and mountain biking twice per week until my body gives out.

I love your plan on what to do in retirement.
 
Not for a good long while yet. Each year with work pay increases have been putting more and more into 401k, almost maxed out what I can contribute. Looking to finish paying off my daughters school debt within the next 2 years and then keep socking more away.
 
Yea I’m with dan on this one. I’m financially contributing to a Roth IRA and a 403B but other than that, it’s just about moving forward each day.
 
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