At what age do you hope to retire?

[ribollita]

Assuming good health, I would like to downshift in FTE when my kids are in college or soon after, but that’s easy to do at my employer. I love my job and don’t see giving it up voluntarily, ever, even when my husband retires.

[imojoebunny]

DH is on track to retire next year, at 55, but I think, hope, I have talked him into working until 56. Ideally, he would work, until the kids are both in high school, in 4 years. I don't think he really understands how things roll around here when he is gone from 7-7:30. It is not the calm, organized world he comes home to. I SAH, but have a decent 401K from when I worked and we have two investment properties that I manage that bring in some income, so don't plan to go back to work, though I have considered it, if I could find the right position, when he retires, not so much for the money, but for better health insurance options, and because I am 47, and not sure what I will do for the next 20 years, until my friends retire.

[farfalla2011]

I have no idea since we just had a baby. I can't see us fully retiring for a long time but more slowing down to something more part time. I'm hoping H can get to that point in about 10 years so when he's 57. Ideally I'd like to be able to do the same which would put me at 47/48. But, in order to achieve that, we'll likely need to look at relocating to a lower COL area so our money can go further. We could make it here if it wasn't for property taxes and we're kinda over the city life that gets worse every year.

[sloan]

I put 56-60, but not really sure. I saved a bunch in my 20’s so there’s a fair amount to grow even with me currently SAH, and if we don’t move/refi the house will be paid off in our mid 50’s. However, health insurance could single handedly require one of us to stay working.

[illgetthere]

I picked 56-60, but I plan to coast fire. The plan is to cut back at 40 and just cover costs until mid to upper 50s while letting compounding do its thing. Currently saving over 40%, so I should be able to go to no more than half time since I'll also be down one kid in the house

[thebulldog]

i have no idea and no set plans on what our retirement will look like. we are both 41 and save via Roths and 401ks but balance doing things now versus someday. I have no interest in "retiring early" at the sake for not traveling or enjoying life now.

my dad died at 69 from cancer treatments and all the things he and my mom waited to do will never happen. she is retired now but it is a lot different than what she thought it would be.

[heliocentric]

We're already 47 & 49 and neither of us have a pension so retirement still feels far away. I've used Fidelity's model and have us retiring at 65 since that when we could get medicare. I have no idea how to plan for insurance otherwise. DH & I both have relatives who've lived well into their nineties, so we're also cautious about ensuring we have enough if we live a long time.

If we can swing it earlier we'll certainly go for that, but realistically that would probably "only" be around 60 when we can start withdrawing from retirement without penalties.

DH lost his job last year and started his own business which put a big damper on our savings, so if that takes off and we can bump up his savings (retirement and non-retirement) that will also have an impact.

[lightbulbsun]

Ideally I would say mid-50s (we are mid 30s now), but it really depends on healthcare availability. We are DINKs, and while we're not super high earners, we have been able to save a lot in retirement so far and have about 3x our annual salary saved right now. We are living in the house we plan to stay in long-term and are on track pay off early in 11 years (17 years early, saving $130k in interest).

I also don't want to live super frugally now just for the sake of retiring early. My mom died at 55, and she never got to do all the things she had planned for retirement. I don't want to wait until retirement to do things because there's no guarantee that I'll get there.

[sillygoosegirl]

We set a goal at some point to be able to retire around/before 50, but realistically speaking, we can't fully retire until health care is a little more figured out in this country, and I don't have much faith anymore that'll happen before we reach retirement age.

We both downshifted to part time work when our daughter was born 5 years ago, when we were 32 and 33 years old, so that's a nice compromise to retiring early, since our employer offers benefits to part time employees.

[fryjack2]

I just turned 40 and H is 44.

He will never retire. He will continue to see patients and consult on cases until he is no longer mentally able. Even if he formally retires, he will still be consulted on cases by nature of who he is and what he does. His career is his passion and Im envious.

I have no clue when I will retire. I already am thinking of what I want to do next, so I may not be at my current career much more than 5 years but no idea when I will actually retire from work entirely. We are financially fine to retire sometime soon, but won't.

[thatgirl2478]

later.

IDK that I have a specific age... the women in my family have a history of living a LONG time so I don't want to just retire because I hit 65 or whatever.

If I have a good reason to retire, I'll retire. If not, there are lots of jobs in nursing that you can do until you are old and grey.

[mlkgls]

I would love to retire sooner, but I chose the 60-64 option because my current goal is to downshift around 60-62 and only work part-time to maintain my health insurance. I’m hoping this is more than feasible.

I feel decently prepared for retirement at 45, but single income coupled with family longevity and being solely responsible for college costs in 11 years is daunting. Every month I debate whether my 401K vs 529 vs savings vs mortgage allocations are correct/optimal! 

[tres3]

I'm not sure I see us ever fully retiring. I'm sure DH will sit on boards and consult well into his 70s if health allows. My mother is still teaching at 69, my grandmother worked until she was almost 80 for the state, DH's father worked up until about 2 years before he died in his late 80s (professor). I think working keeps the mind sharp.

Sadly, I also wonder if earth will be habitable in 20 years when I should retire or if we will have had a max extinction event.

[L]

I’m 44 & don’t plan to return to work or my profession ever again. My last job in a firm I quit at age 37, but I haven’t worked f/t since I was 28. My husband is also 44, we are hoping he can be done with his firm by 55. We may continue to dabble in real estate or something else, but actually working for other people—hopefully by then. But our youngest will only be 17, so he may need to do another 5yrs to pay for college. My FIL passed away at 58, DH doesn’t want to work until he drops dead & I don’t blame him.

[woowoo]

I love my job and most people in our company in high level positions don't seem to retire until 65 or old. And I just had my first (and only) kid at 40 years old. I will probably stay with my company until around 60, then hopefully teach for a few more years. Or maybe I'll stay until 65 or 70.

Either way, I would rather continue to travel while we're young(er), use all 5 weeks of my vacation time every year, and spend what I want when I want now while my kid is young (ie: take a Disney Magical Vacation to Africa), rather than save save save for retirement and retire early but still after my kid is older and out of of the house.

[nk]

Dec 9, 2019 11:48:00 GMT -5 atarianna said:

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

Yet you made $13k last year and couldn’t afford to pay the $640 for your kids to see the dentist this year? (Or maybe you were just too cheap to and would rather retire early than take proper medical care of your kids?)
Wonder how you paid for the new house given your true financial situation vs what you claim on here.

[atarianna]

Dec 21, 2019 20:39:46 GMT -5 nk said:

Dec 9, 2019 11:48:00 GMT -5 atarianna said:

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

Yet you made $13k last year and couldn’t afford to pay the $640 for your kids to see the dentist this year? (Or maybe you were just too cheap to and would rather retire early than take proper medical care of your kids?)
Wonder how you paid for the new house given your true financial situation vs what you claim on here.

Hi Niecy. Hope you’re well.