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Retirement. What age is your goal (1 Viewer)

Goal age to retire

  • 40s

    Votes: 9 5.1%

  • 50s

    Votes: 64 36.6%

  • 60s

    Votes: 81 46.3%

  • 70s

    Votes: 3 1.7%

  • When I die

    Votes: 15 8.6%

  • Don't work. Live off the government

    Votes: 3 1.7%
  • Total voters
    175
flapgreen

flapgreen

Footballguy
I've always thought about targeting 60. Spent most of my 20s in college. Most of my 30s paying off school loans. Saving for the next 20 years. 

 
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Early 50s.  My Dad retired at 50 and my Mom at 54, so it seems reasonable.

A little less than 3 years to go.  I'm getting a little burned out and would like to move on to the next phase: cat food.

 
I'll be out at 60, unless my wife has her way and forces me to keep working until she is done.  

 
Hopefully late 50s. The kicker is health insurance. How much will it be then? Will my wife still be working and bringing home the insurance?  :excited:

If not late 50s, I guess 62 or whenever. I don't know.

 
Shooting for late 50’s. Should be doable. Think I’ll try working at a golf course or some volunteer stuff after a bit of doing nothing. We’ll see how it goes.

 
Two years. I'll be 52. I'd retire right now, but my daughter went back for her masters degree. So, two more years. (unless she decides to get her doctorate)

 
Christo said:
She can't get a loan?
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She doesn't need one. She's working as a TA, so her tuition is paid for. Plus she get's $1300 a month stipend. If she quits spending on shiny objects, she should be able to earn her masters and have $25k in savings. It has less to do with paying for stuff and more to do with hanging on to Mom's apron strings. 

 
Probably 70.  I switched to a full-time university professor position 3 years ago.  The pace is under my control, and the university is one mile from home.  Wife retired two years ago.  So I'm happy and not stressed, and I won't mind continuing on for several more years.  Then again, with a second grandson coming in a month, I'll change my mind if the academic gig interferes with the enjoyment of grandparenting.

 
Between 55-60, hopefully closer to 55. Although not sure I'll completely hang it up as I'll probably still do some work even beyond. 

 
60

I "retired" at 40 from active duty. Then got a federal job. In other to get a decent pension here I'll need to either serve 20 years or be 60. Also, our youngest will probably graduate college when I'm 58, so it just lines up. 

We could retire before that, but that extra $25-30k / year will come in handy.

 
Hoping earler but... Currently have my 401(k) set to adjust based on retiring at 68. Have a Roth IRA going as well and my house will be paid off within the next 10 years when I hit 60. 

Then again I can work anywhere I can get internet connection so can start traveling as soon as my daughter's wedding next year is done.  :drive:

 
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I’ll probably die before i can afford to retire.  Not really in a rush though either.  Dont love my job or anything, but don’t hate it either and it gives me something to do.  Plus my wife would probably murder me if we were home all day together 

 
If you'd asked a year ago, I would have said mid-60s but the situation has changed.  I turned down a relocation this year and will be leaving my current employer in December.  My immediate plan is to travel a bit while running out PTO and look for something else early next year.  I'll reach 59 1/2 exactly 51 weeks from today and let's just say I'm currently recalibrating.  I think I'd probably get bored without work so am leaning toward continuing for a while but there are other variables in play now.

 
My target is 62. 6 years. Could do it earlier if I needed or wanted to but that’s the target re year/number. 

Kids college all paid, really no debt except  for a tiny 2.75 first that I don’t want to pay off yet. 

I’m in my money run now so focused on accumulation.  I’ve had 2 friends die in the past 5 days (56-60) though so I may be rethinking priorities. 

 
Just retired in August at age 54.  I'm taking a year+ off to get my health back in order (turned into a fat tub of goo this past year).  I will probably work again, but it will be nice to know that I will do what I want, and annual income won't be a decision factor.

Also, the cost of health insurance could change things in 5-10 years.

 
I’ll be eligible to retire at 57, about 16 years from now. Too early to tell if it will be financially possible for me to do so. Assuming I’m in good health, I will probably work at least part time doing something I enjoy if I do retire. 

 
D-Day said:
Just retired in August at age 54.  I'm taking a year+ off to get my health back in order (turned into a fat tub of goo this past year).  I will probably work again, but it will be nice to know that I will do what I want, and annual income won't be a decision factor.

Also, the cost of health insurance could change things in 5-10 years.
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That’s awesome. As much as I’d love to be able to retire in my 50s, those will be my peak earning years most likely. I can’t  imagine I’ll retire before 60, probably will go to 65 (my firm’s mandatory retirement age).  Around that time I’ll be paying for college and then weddings for our three girls..... won’t be the time to take the foot off the gas...

Though I do often fantasize about Mrs O and I seeing the world before we’re too old to be prevented from enjoying it. 

 
Joe Bryant said:
Judge Smails said:
I’ve had 2 friends die in the past 5 days (56-60) though so I may be rethinking priorities. 





 
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I'm sorry to hear that Buddy.
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It certainly is food for thought.  I've lost friends at most every stage of my life but death became more common and random in my 50s.  I've worked for others since the kids were born.  Since they've gone off on their own, I've been working for some vague notion off in the future but age makes that future more uncertain.  It raises the question of whether to trade a year now when we have our health and can enjoy life against the risk of running out of money in the 2030s.

 
I hope to retire in my late 50s, around 10 years from now. Coincides with last son in college and house paid off. Even though JB says accumulation phase is overrated, my wife and I are sort of in that phase. I am definitely over my job but it pays the bills. I do need to get back in shape as I’m probably in the worst shape of my life. Just no me time right now and I need to make some time. Don’t want to never enjoy my retirement. I’ve got no doubt that I won’t be bored. Hopefully the wife keeps working for the insurance. Not sure I can make that happen! She just wants to move to the beach but we both work from home so maybe. 

 
Otis said:
What do you mean by this GB?  Overrated how?
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I'd like to hear those thoughts, as well.

The countdown app on my phone is measuring in days at this point.  I think stress is slowly killing me (a bit faster than normal aging, anyway).

 
I honestly don't have a goal to retire, but I am investing to the point that it would be feasible in my early to mid-60s if I get there an decide I would like to stop doing what I am currently doing.  Right now I am 50, have a job I love on a team that is great.  Two kids married and living their lives (with 2 granddaughters and another granddaughter due in the next few weeks), a 21 year old that will be moving out soon, an 18 year old out of state in college and a 16 year old still at home.  No mortgage, not many years left on car payments - significant amount of funds built up in a 401K and Roth IRA.  Wife would like to retire within the next 5-7 years, but I really haven't even thought about it yet other than saving in the eventuality that one day I will retire.  Just not sure when.

 
Sand said:
I'd like to hear those thoughts, as well.

The countdown app on my phone is measuring in days at this point.  I think stress is slowly killing me (a bit faster than normal aging, anyway).
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I think he means to save but enjoy the ride more or less also. :unsure:

 
Was always 55 - then ride it out as long as it was fun and accumulate more savings.  

At 55 and a half, got caught in a big layoff and left. 

If I wanted to move to Baton Rouge or New Orleans I could have continued working.  Wife didn't want to, I didn't really want to, and the didn't want to pull the kids out of their friends/school (but the kids were not a big part of the decision).

Really happy I did it - it will be 5 years this October.  No way I would be good to work for anyone after 5 years of not having to do anything but picking up my daughter at school a few days a week.  

 
ragincajun said:
I think he means to save but enjoy the ride more or less also. :unsure:
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Ok, so my last day of work consisted of a redeye from LA (1 hour's sleep), an all day client meeting as soon as I drove in to work, and then getting my car totaled commuting home.

So, Joe, what part of this should I be enjoying?   :P

 
ragincajun said:
Sand said:
I'd like to hear those thoughts, as well.

The countdown app on my phone is measuring in days at this point.  I think stress is slowly killing me (a bit faster than normal aging, anyway).
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I think he means to save but enjoy the ride more or less also. :unsure:
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Yeah, my dad retired at 57 with an amazing pension, lots of investments, a great wife and fantastic plans for what they would do in their retirement together. And he loved every moment of his retirement but it lasted five years before he had a sudden heart attack and died.

I have a job that affords me a great quality of life (but I passed up following my dad's footsteps into the Government role with the good pension - I have no pension). My wife and I have properties that will be fully owned and that in theory we could sell or rent in our early 50s to maintain a decent standard of living and work part time to afford us some extra income to travel. And that's our stated plan, but to be honest, I'm pushing no hopes or dreams to retirement, if there is something we want to do, I'm doing it now, while we have the means and the health.

 
I'll be 59 in 2 months. I can retire now, but I'm selling $4-5mil in RE working mostly PT. I really enjoy helping young families buy homes. And old, Scotch drinkers.

I've taken some form a vacation (3 days+) each of the last 21 months.  Did McCall last weekend, LA for 5 days this Sunday, then Oregon Coast Sept 17-20. Plan now is to keep working referrals and repeats for five more years. 

 
We probably could retire now. I just turned 54 and the wife will soon be 48. We need to sit down and calculate what our expenses would be each year and look into how much health insurance would cost us until we hit Medicare. I'm somewhat semi-retired right now but would like to phase out my freelance AV work over the next year to focus solely on voiceovers. Since I enjoy VO work, I don't intend on ever giving that up. My wife has been an executive at her company for almost 20 years and is ready for a change. No kids, no debt, while there are a few places we'd still like to visit, we've travelled a lot over the last 25+ years and don't really need to see anything else. Ideally, we'd like to make enough to cover expenses for about 10 years, move out of NYC and downsize somewhere out west and just travel around the country out there, doing day trips and weekend trips. Hopefully within the next 5 years.

 
Sand said:
I'd like to hear those thoughts, as well.

The countdown app on my phone is measuring in days at this point.  I think stress is slowly killing me (a bit faster than normal aging, anyway).




 
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It's my opinion most people chase the "stuff" and when they get it, they're not any happier than before.

For sure, there's a level of income that allows one to be comfortable. I'm talking comfortable house, reliable car, some savings, able to go out to eat when you like, not sweating an unexpected repair. That kind of thing. But that's way less than what I see lots of people (mostly guys in my experience) chase in the "accumulation phase". They hit their stride for earning and it becomes pure materialism with the hot cars and toys for show. Money becomes the scorecard for life.  I've been there. I know lots of people still there. Doesn't make them bad people. But I don't think it's the fulfillment they thought it was. And I'm pretty sure the stuff they think is impressing everyone... isn't. 

I know it's easier said than done but I'd do all I could to get out of a job that has me counting down the days and do everything I could to find something to fill my days with something I enjoyed doing. It's work. I get it. It's not always super fun. But it doesn't have to be drudgery.

Off the soapbox. But I feel strongly the "accumulation phase" is beyond overrated. It's a sad mistake I see guys make and it's often not until the end that they realize it. 

 
Like many here I'm thinking 60.  I was thinking early 50's but a job switch has reinvigorated me and I enjoy what I'm doing now.  I'm thinking 60 simply so I can spend several years traveling and enjoying life while I can still get around easily (hopefully). 

Working an 5+ years also will enable us to have way more flexibility with picking up a second house, helping the kids with their first houses, etc. 

 
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