At what age do you hope to retire?

[sadlebred]

With all of the talk lately about retirement, I'm wondering when everyone plans to retire.

[jinkies]

I selected 65-70, which would be when I could get full SS benefits (if they still exist). Like everyone, I would love to retire earlier. But we are not big enough earners, or willing to make enough serious spending cuts, to save enough before then.

ETA: Also, it may be necessary for my H to retire, or at least semi-retire, earlier than that because he works a physical job. Which is all the more reason that I will likely continue to work until a later age, to compensate for his lack of income.

[farmvillelover]

I answered 71+. I will work in some capacity (even if it's just 1 day a week or a few hours a week) for as long as I'm able. My job is pretty easy so why not. And even when I don't want to deal with clients anymore, I will still want to be on board to ensure things are going smoothly for whoever does work at the office full time.

Selfishly, it would be nice if it worked out this way because then I could fall under the "Still working" exception to taking RMDs from my 401k. I'm currently in the process of rolling my IRA into my current 401k so that would mean the bulk of my retirement funds would be in my 401k. It would be nice to not be forced to take that income when required.

ETA: my H plans to stop working sooner, the plan is 4-6 years in time for our oldest to entering middle/high school.  This also affects my decision because I still want to save, have nice things/experiences, and pay for health insurance for our family.

[wildrice]

I put 60-64 but I think a lot of things have to go right between now and then for that to happen. I'm very hopeful they will, but it's hard to say. We're 37 now, don't own a home, and we're behind (though not horribly so) on saving. We also have a lot of student loans. I'm hoping within the next decade we'll get on more solid financial ground with those things and then be able to throw a lot of money toward retirement for 10-15 years and retire. But who really knows.

ETA: I actually would love to retire even earlier, but I don't think that's a realistic possibility with our current trajectory. My H on the other hand just started his career and may want to work longer than me. I'd retire tomorrow if that was a possibility - I'm not a huge fan of working, especially full time, and would jump at the chance to do other things with my life. I also have a lot of worries about one or both of us being sick/dead by the time we are "retirement age" and not being able to fully enjoy it, so I want to get there ASAP. 

[Susie]

I don't really have a target age.

My mom died of cancer at 59.  She only "retired" when she was unable to continue to juggle treatment with FMLA and work.  She never had a real retirement.  My dad retired around 63 or so, but only when my mom's health declined to the point where he needed to be home full time to care for her.  Fortunately he had his 30 years in by then and was able to retire with a federal pension.  He is also a cancer survivor, and was dx'ed with stage 4 at age 52.  His recovery is nothing other than miraculous, he almost didn't get to see that part of his life too.  That has really colored my views on planning for retirement.  I max my 401k, H contributes to his 457(b), and we're planning for him to stay in the state system for another 8 years+ (so he exceeds 20) to get a pension, so I don't think we're being financially irresponsible.  I'm not pretending retirement won't happen.  But I also have a really hard time saying "I plan to work until ____" because I haven't really seen it work up close before.  

[ssmjlm]

I can go at 57, but may stay until 58 for an even 35 years.

I want to go earlier because with DH being 9 years older I don't want him waiting for me to retire. I want us to be mostly aligned so that we can enjoy it.

[steamboat185]

The plan is for me to stop at 42 and DH to stop around 45, but he is planning on submitting a request for part time work and if it’s granted he’ll work longer.

[liveintheville]

I’m a sahm but H will probably work as long as it’s feasible for him. He could retire but he enjoys what he does and would probably cut back but wouldn’t stop completely.

[flygirl]

I selected 65 but ideally I’d retire at 64 when H retires.

[oswin]

I said under 50, but I don't necessarily mean completely retire so much as be financially independent and therefore flexible on how much either of us works. This goal isn't entirely unreasonable but depends on how the next few years go for us. Also paying for 3 kids to go to college could throw things off.

[ohgillian]

I'll have 30 years in my defined benefit pension system at 57, so, that's when. The cost of retiring before then is so massive; it's not worth the tradeoff to me.

[atarianna]

We are eligible to retire at 50 and fully intend to do so. We will both likely do consulting work as we please but will no longer be in the 9-5 typical day.

[Covergirl82]

I picked 56-60. I want to still be able to enjoy life with DH and hopefully babysit my grandkids a day or two a week (depending on if my kids have kids and if they live close enough for me to do that).  ETA:  This assumes we have our house paid off in the next 10 years so we can add more to retirement savings for the next 10 years.

[raangoli]

Ideally when BB goes to college. I’ve always told MH that I don’t want to be that person saying they need 4 more years to get their kid through school and then they’re done.

But who knows. I’d say no later than 65 for sure though.

[goldengirlz]

I have no idea. I like working and don’t necessarily have an itch to retire early. I worry more about being pushed out/ageism in my industry. Whatever I’m doing in my later years, it probably won’t be this.

H thinks he’ll have to work till 70, at least part time, but he got a late start because of all the schooling he needed.

[k3am]

I put 56-60, but my goal for "retirement" isn't to be truly retired. By that age, assuming no huge monkey wrenches get thrown into the works, my plan suggests we'd have enough to comfortably retire in that time frame, but I'd rather just view that as where I'd have the flexibility to worry less about a career and more about doing something I enjoyed, even if the income from it was smaller.

And while age discrimination is illegal, it definitely still happens. Three of my prior managers have essentially been forced into early retirement. My goal is to be stable enough that if I'm put into a situation like that, we've got it covered.

[hurricanedrunk]

I selected 56-60. Right now we're on track for 55/56 if everything goes as planned.

[wanderingback]

I have no clue. I’m in my mid 30s and am just starting my career. I can imagine doing abortion care and advocacy a few times per month until I’m really too old. Otherwise I want to get out of the rest of the rate race as soon as possible. To be honest my SO is working on a couple of projects that might possibly make that happen so I could pay off my loans and live comfortably, but I’m trying not to get my hopes up.

[waverly]

I am planning to stay until 65 for the health insurance. DH does not plan to retire ever.

Someone mentioned early retirement that is an option if my employer offers it for me to buy up to 5 years. It might be a possibility at that time because they want to get rid of someone with a high salary and replace them with someone they can pay less for. If it was offered I would probably feel like I have to take it. My boss offered it 2 years ago to 3 people and 2 of them liked it and 1 wasn’t really ready to retire.

[lolalolalola]

We are planning for 60

[Accountingcat]

I can financially retire at 59. DH is a couple of years older than me and will probably retire around then so I might to be able to travel together. In reality, I think it depends on where our kids are and if I feel like we still need more spending money (ie they are still in college/grad school or something). The mortgage should be done way before then but who knows if we will want to update the house or move before retirement.

[mcsangel2]

I am currently planning at retiring at 62, I am 47 now. I will put in for early social security, and we will start collecting DH's pension (he could start collecting in 2 years, but we will wait). Those 2 items should more than make up the loss of my salary. We will let our 401ks grow as long as they can, hopefully until we are 70.

DH currently has no plans to retire, he is 48 now. He always asks what the heck he'd do with his time if he retired, I have no questions about that!

The only possible problem is that DH works for a major cable company, and everyone knows how they're faring in the streaming wars, so it's entirely possible that his job won't exist in a few years.

If things (investments) go better than expected, I will retire earlier, as early as I can. I will get on DH's insurance until medicare kicks in.

I always planned to have our mortgage paid off before retiring, but we are still in our 'starter' home (15 years later), and I really want to get something a little bigger. We might be able to pay off a mortgage in 15 years, but it would be tough.

We are doing our best and taking the advice to travel as much as we can now, while we are physically well able to do it. Health in aging is a major concern of mine.

[mich1]

The minute I turn 65, DH plans on retiring. He might retire earlier, depending upon how this most recent job pans out. He was seriously considering it, but was just offered a job with a 50% raise with phenomenal benefits, doing the exact same work he is currently doing.

Healthcare is the biggest issue for us. Locally, the options for healthcare offered on the market suck badly and the best healthcare options are usually those provided by employers. Add to this that despite the fact that I am on Medicare through disability, the Medigap options are non existent that would help me the most. Once I turn 65, I get access to better plans.

In the meantime, we are traveling as much as possible. We took 4 overseas trips this past year (leave on the 4th in 2 weeks), and have 2 more scheduled and paid for in 2020. There will be more.

Had I not gotten sick (in 2012), in 2015 I would have been eligible to retire with healthcare benefits  which would have been in place.  My healthcare would have been covered, we'd have to pay 50% for DH and our Medigap coverage would have been covered.  The best of intentions.......UGH!  

[simpsongal]

I said early 60s but I'm not wedded to that. I think I'm eligible around 58 to buy into the federal health insurance, so that's a big factor (I'll have ~33 years in federal service by then). Sort of depends on our lives and our kids at that stage.

I'm more focused on the next 5 years - paying off my SLs and no more daycare payments in 3 years.

[tripleshot]

I hope to retire at 50. I’m 38 now. At that point, I would’ve been with my company 27 years and 50 is the earliest you can retire with the pension benefits. I may stay the extra 3 years to make it 30. I also have a 401k I’ve been contributing 14% to and a Roth IRA, but we’d just live off DH’s salary until I could take withdraws without penalty.  He’ll probably work until 60-65. He’ll get the state teachers pension as a school principal (hopefully superintendent in the next few years) and also has a Roth IRA. 

[Pom]

It’s complicated.

Technically, I retired when we moved to San Antonio at age 46. H’s career is demanding with travel and me working hospitality (demanding hours) wasn’t feasible when his dad was dx’d with dementia and his care needed managed. My mom’s health deteriorated soon after his death, so my time has been devoted to her health care and now that she’s passed, I plan to get her affairs in order. Her estate will trigger a property trust that I will continue to oversee on behalf of my family. We are planning on Mr. Pom retiring at 58 but he’s flexible.

[dragon's breath]

Ideally, I'd retire at 51. However, that would require a special "early out" condition be offered, which is fairly rare (though I've seen it happen a few times). I'd be eligible to take one of the early outs when I'm 46, so may start applying then, if they are offered. If I can't score one of those, then I'll retire the day before my 57th birthday, since I'll be able to retire with full benefits, including a pension that would replace 35% of my income at that point. I could handle working my current job until 57, I just don't want to. I have no desire to work a day longer than I need to (I've worked, and saved, since I was in fifth grade, so I'm ready to be done).

[5thofjuly]

We’re relatively low earners compared to much of this board, I suspect.

65+ for me. I absolutely love my job (professor). I’m only paid for 9 months a year, so I get 3 months off + breaks (an extra month) which I usually spend reading about and researching things I’m curious about. I only have to go in to work three days a week or so for 4-6 hours at a time once I give up my administrative duties, which I will in my 50s (the work is definitely full time during my “on” months, but much of it is from home on my schedule.) I get to work with cool, interesting colleagues and have amazing students. We have fun benefits like a paid sabbatical every 7 years. I have the opportunity to make positive changes in my community through my job. Since we don’t have kids, I have plenty of free time already. I also am happiest in life when I have decent structure and goals I’m accountable for.

I swear that I’d keep my job even if we won hundreds of millions of dollars.

My DH does not love work like I do. My goal is to help him retire fairly early, have him spend his time volunteering or working VERY part time (because I’m not OK with him spending 35+ years playing video games and he has a valuable skill set,) taking care of most of the housework, and planning awesome trips for us. At that point, my income can be used for incredible travel experiences we wouldn’t get to have if I wasn’t working.

[tcu2003]

I picked 56-60. DH is 5 years older than me, and intends to retire by 60. At this point, we should be more than okay for us both to retire then, but as DD will still be in college, and I like my job, I’m guessing I’ll work another 2-3 years, so I’m until 57 or 58. That’s still 17 years away, though, so we’ll see.

[Shreddingbetty]

My goal is to retire as soon as I can draw on my retirement without penalty so that’s 59,5. I’m 47 now and technically already have enough in my retirement accounts to be able to retire at that age as long as we don’t have some huge market crash shortly before. My kid still has 9 years before she gets to college which her dad should pay for. I’m only working part time right now (24 hours a week) and my goals is also to be able to not have to work more than that once alimony is done in 5 years. I have a financial advisor to help me get all of this figured out so I’m on track for that. If I won the lottery I’d more than likely quit. I don’t hate my job but I don’t love it and I would like to move back to Europe after my kid is out of the house.