When can you retire?
When do you think you’ll be ready to retire? How well are you doing in terms of saving?
I’m 53 and I’d like to work until I’m 66 or 70, and cut back to part time or have a consulting business for the last seven years or so. Right now I’m playing catch-up with my retirement savings by socking away as much tax-deferred money in a 401(k) as I can.
over 3 years ago
Not sure if I'll totally retire from work until I'm 75. But it terms of finances, I think my pension, social security, 2 homes and annuities will enable myself and my husband the lifestyle we are accustomed to for a long time.
over 3 years ago
I've been saving with a 401K for awhile and can collect survivor benefits from Social Security in a couple of years, but I'd like to know how I can retire sooner than 66. Health insurance is so expensive. Is there any way to get a good rate if you retire early?
over 3 years ago
I can't imagine that I will ever retire. Maybe cut back on some hours, but I will be at least 60 when my kids graduate from college and I would love to be able to finance most or all of their undergraduate college costs. Am I crazy to think I will never retire? Does anyone think like that?
over 3 years ago
There are two questions here, and they both discourage me from being optimistic about the future.
Ready to retire? It doesn't matter when I'll be ready to retire. I won't be able too. They say you need 75% of your annual salary to live comfortably - and lets be honest, who wants to live uncomfortably? That really says that I've got to save 75% of my annual salary for each year after "retirement" age (65) that I expect to live. Let's call that 15 years (80). That means I would have to sock-away 75% of my salary starting at 50. I don't think so.
Savings? I've got enough for 3,4 years, 5 tops. I'm certainly not expecting Social Security. So again, it looks like I'll be working well past 65.
Should I be this grim about the rest of my life?
Ready to retire? It doesn't matter when I'll be ready to retire. I won't be able too. They say you need 75% of your annual salary to live comfortably - and lets be honest, who wants to live uncomfortably? That really says that I've got to save 75% of my annual salary for each year after "retirement" age (65) that I expect to live. Let's call that 15 years (80). That means I would have to sock-away 75% of my salary starting at 50. I don't think so.
Savings? I've got enough for 3,4 years, 5 tops. I'm certainly not expecting Social Security. So again, it looks like I'll be working well past 65.
Should I be this grim about the rest of my life?
over 3 years ago
I am 62 and should be thinking about retiring, but I am at least 8 years away. I have been saving, but my children ran into financial difficulties and I had to help. Any suggestions on how to pump up the savings?
over 3 years ago
I don't think I'll ever retire, but by the time I'm 60 I'll want to work part time and have lots of freedom. I'm not sure how I can create this opportunity for my future. Any ideas?
over 3 years ago
Well, Of course, we all hope we can stay productive as long as possible but sometimes life happens while we are planning! I found I had to cut back my work hours as arthritis started to slow me until I stopped work all together at 50. Not my choice, but one learns to adapt. It is never too early to invest as we never know what's around that next curve! I am still productive, just not in the same way! I bought a new home just a year ago @ age 60! Power to the brainiacs! Retire is just a word!
over 3 years ago
I'm 50 and am taking a little different view of retirement. I definitely am not going to have enough resources to retire at the level I want to (neither do most people I know).
So, I have been working on building an internet based home business to retire into. I'll still be working into retirement, but it will be from home (or on the road with a laptop and cell phone).
I think this will give me the freedom to do the traveling, etc that I want to do and the income to do it with.
So, I have been working on building an internet based home business to retire into. I'll still be working into retirement, but it will be from home (or on the road with a laptop and cell phone).
I think this will give me the freedom to do the traveling, etc that I want to do and the income to do it with.
over 3 years ago
I am 55 now and working on a job that does not have a 401k plan and I do not earn enough to fund my own. I was doing really well until 2001,,, lost my big $$$ to India, and lost 2/3 of investments after the dot.com bust. Didn't know that my wife at that time was busy running up credit card debt at the same time. It took me 4 years to repair my credit so that I could dump the credit card debt into a second mortage.
I will probably do just like my father did, work until the paramedics arrived.
I will probably do just like my father did, work until the paramedics arrived.
over 3 years ago
