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When do you plan to retire?

The sooner the better for me. Too many fish to catch. I feel my body won't allow me to play golf as long as I would like, but it doesn't take much to operate a boat & wind the reel. So .... I'm thinking around 62 - 65 hopefully. Depends how much more I can stock away. I want to get over the $2M mark before I call it quits. But I'm only halfway there.
 
My original plan was 50. That didn't work out. One pension started at 62, the others at 65, saved a lot in 401k, medicare at 65. I told the big boss good-bye, I'm not traveling and training people anymore. Still have my health, play golf 3 times a week at good times, Wife took it early, too. Kids are independent, the house is paid off, cars, too. Life is good. Plan to retire and stick to the plan. If you don't have a solid financial plan, you will never be ready to retire.
 
I semi-retired at 55 in 2014. I did my woodworking and one or two consulting projects a month. Then major health issues hit my wife and daughter, which sent me back to the 40hr week last year to cover the cost of "healthcare reform." Now I'm going through a major health issue.

The plan is to hit the trail at 65-66 (to get the most out of the SS benefit while trying to enjoy some retirement). I'm still on track mostly, but we need to get out of expensive IL, where political corruption and excessive taxes go hand in hand, ASAP. Im hoping to find a remote job so we can get somewhere cheaper to live. My wife can go to a remote situation at any time, so the ball is in my court.
 
I'm a blue collar peasant, so probably never.
 
I think I’m taking a tiered approach. We will either IPO or be acquired in the next 2 years. I could probably retire somewhere between 45-50 without the IPO. The real plan is to either get out and start my own consultancy or shift my line of work entirely...I have two kids heading to college in the next few years so that may alter the plan.
 
I would like to think that I could retire in 10-15 years time, but the way things keep changing in terms of retirement etc I wouldn't be surprised to have it be nearer 20 years
 
SouthernShred;n8893481 said:
I think I’m taking a tiered approach. We will either IPO or be acquired in the next 2 years. I could probably retire somewhere between 45-50 without the IPO. The real plan is to either get out and start my own consultancy or shift my line of work entirely...I have two kids heading to college in the next few years so that may alter the plan.
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This alters all your plans, believe me. Try putting 5 kids through college! 2 are done ... just waiting for the last 3 :banghead:
 
This is an interesting question for me as I approach "retirement age". I could retire in two years but I anticipate retiring around 65, so that's about 8 more years or so. Even after I retire, I can still continue to work in my field, if I choose to do so. Two things that I do agree with that have been stated here are the concern about health care expenses and the need to have a solid financial plan for your future. The only thing else I need is to get out of NY, at least part time. I have no use for winter.
 
golfinnut;n8892892 said:
The sooner the better for me. Too many fish to catch. I feel my body won't allow me to play golf as long as I would like, but it doesn't take much to operate a boat & wind the reel. So .... I'm thinking around 62 - 65 hopefully. Depends how much more I can stock away. I want to get over the $2M mark before I call it quits. But I'm only halfway there.
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Yeah, the $2M mark (IMO) is kind of a magical point where you can take out a reasonable amount of money each year to live off and with any decent returns in the stock market your retirement portfolio will actually increase each year (compared to the opposite where you might run out of money at 80). 2 is my target as well.
 
golfinnut;n8893696 said:
This alters all your plans, believe me. Try putting 5 kids through college! 2 are done ... just waiting for the last 3 :banghead:
Click to expand...

I have it figured in right now, but they both stand a great chance at full ride academic scholarships.
 
I don't have a defined age at this stage (39). So many potentially good or bad things can happen between now an say 20-25 years from now.

I doubt Social Security will be around and I have no pension, just a 401k. So prob a good chance I'll be working until I'm in my mid to late 60's.
 
I'm under 30. I have no real date or anything, but my wife and I are putting money away for retirement. There so much time right now there's no idea what world events will happen that will affect my retirement.

The mark on the wall was $2 million but that may not mean much for my lifetime.
 
I'm 63 and my wife retired from teaching this year, so her pension, health insurance and soon to be Social Security are real blessings. She taught for just over 20 years, which makes a decent pension. I have two small pensions and I'm building the IRA/401(k) to a target. I hired a financial advisor this year and we went over the numbers. I could retire today, but I want to retire my debt and build my balances further. Still nice to know I could go if I had to and be OK. Most workers do not get to choose their retirement date - health and/or employers often do that for us. My advisor is encouraging me to go sooner rather than later.
 
I’m not sure I have an age. I hope to set myself up to always have an income coming in via properties. My wife plans to cut down to two days per week at 50. That’s still 20 years away though so who knows. Right now we’re in a decent spot though.


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I’m 65 now. Planned to retire at 55. Did so at 50, 15 years ago.
steady savings since I was 18. Always lived within my means. Didn’t deprive myself of much. But saving was a priority. Never had kids (by choice) so you fathers/mothers know what that does to your finances. No alimony, child support etc ... no mortgage for the last 7 years of work. Civil service pension so health care was included. Married at 46, wife has same pension plan as I do, but she makes a few dollars more a month ( so I consider myself a kept man). Just started Medicare And pension also pays my supplemental and Rx plans.
I know dedicated pensions like mine are disappearing in the private sector, making retirement more difficult. But it can be done. I was lucky with my job and pension and saving habits I got from my father. One regret: never sat down with any type of financial advisor years ago. We would probably have double the savings. Live and learn. Good Luck to all.....

To all you guys awaiting military pensions: 1st- Thank you for your service. 2nd- my brother retired 2 years ago from the Navy. Almost 30 years. He was an F-18 pilot for 28 years and rank was Captain. He lives in California, middle of the state. His military pension doesn’t come close to covering his expenses. Wants to move out of Cali but wife says no. He had to get another job. He now flies those big giant jets around the world for FedEx. Nice job, tons of money. So good luck to you military people approaching retirement. Choose where you live carefully...
 
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Been retired twenty years this month. Best job I ever had. Did have to get a part time job for insurance for a couple of years. My very cheap golf course closed so only play once or twice a week. Still riding motorcycles and starting to go fishing quite a bit. As little work as possible.
 
I escaped the working world 3 years ago. Now I'm so busy I wonder how I ever found time to work.
 
I'm 53, and the plan is to retire when I'm 55. My Wife retired two years ago, just before she turned 50. We're doing well so far, and it looks like the 55 plan might work out. I won't completely retire and become a couch potato, though. I've always been a musician, and I'll continue that. Wife has been spending her time as a professional dog trainer, and is busier now than when she worked full time in finance.

One thing is for sure; I'm going to play a heck of a lot more golf than I do now when I don't have to get up and go to a day job every day. :golf: :guitar:
 
I'm not really sure when I'll retire. Due to some bad investments and bad financial decisions when I was younger, my retirement is definitely pushed back a little. I'm 47 now, and it's looking like somewhere around 65. My wife should be eligible to retire in about 12 years with full pension and lifetime medical.

Honestly, I'll probably work past 65 as a consultant/contractor in my field.

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The plan was June, but my wife had enough of teaching and semi-retired 4 years ago.

Teaching was my late in life career change so we are hoping for June 2022 @ 68.

Until then, stashing cash to relocate south and make sure our two aging dogs enjoy their current fenced yard without the stress of moving.
 
I'm very lucky. I'll be 52 in November and have already been retired for the past 9 years.

Wasn't necessarily the plan, was a police officer with the NYPD, retired after 20 years. First couple of years I played Mr. Mom to our young teens while the Mrs pushed hard to advance her career. Lots of long nights for her along with lots of travel.

Worked. Her career kind of took off and the advancement was met with anticipated reward. It went from her pleading with me, "I'm sorry honey, give me just another six months to a year before you go back to work" to, "things look pretty set, you don't have to work if you don't want to."

Sometimes I chastise myself for not going out and earning during my earning years. But always, I'm humbled and very thankful for having the choice.

Mind you, my lifestyle has only been made possible due to the move south and the much lower cost of living here. If still back in NY, I'd absolutely need to be working right now. Maybe 2 jobs, LOL...
 
Thanks to financial wipeouts in 1999 and 2008, and 2 divorces, I believe I'm working until I die.
 
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