When can you retire?
When do you think you’ll be ready to retire? How well are you doing in terms of saving?
I am 51, have a good job, but do not see how I can ever possibly retire. With increasing costs on everything being way more than wage increases and SS not a dependable option, it looks like I will work forever. The only viable option I can see is that in 6 years I will own my home and will then be able to sock away or invest the money that I currently invest in my mortgage.
over 2 years ago
I am 51, have a good job, but do not see how I can ever possibly retire. With increasing costs on everything being way more than wage increases and SS not a dependable option, it looks like I will work forever. The only viable option I can see is that in 6 years I will own my home and will then be able to sock away or invest the money that I currently invest in my mortgage.
over 2 years ago
When I can transition to a lifestyle business - doing more of what I love - with others I like and admire - and something that is socially responsible - aka a social enterprise.
That's my dream and I am researching it already.
Like many still-idealistic boomers in this Money group, I'm a fan of social enterprises - that is for-profit companies with business models that "do good" as they make money.
As you may also know, the Skoll World Forum on Social Entrepreneurship just completed at Oxford University - and honored ten innovators in this booming social enterprise sector.
They each have powerful stories to tell.
I am learning from my friend, Jenna Raby. She knows many of these business models. She co-founded, LaborFair. It enables time-starved people with the money to hire help to find reputable workers fast and ensure they get a fair wage. Think of LaborFair as an eBay for household services with fair trade built into the business
I think LaborFair goes to the heart of supporting the working poor - and connecting them with people with a social conscience who want their spending choices to support their moral ones. I have an idea for another kind of business with a similiar end goal.
There's a Sufi saying, "God makes only co-equal partners."
What resonates with me are the social enterprises that work "with" people so they can achieve a better life rather than the inadvertently condescending side of charities that "help" the poor. Maybe Jeff Skoll + some of these other entrepreneurs would "talk" to/with our group.
That's my dream and I am researching it already.
Like many still-idealistic boomers in this Money group, I'm a fan of social enterprises - that is for-profit companies with business models that "do good" as they make money.
As you may also know, the Skoll World Forum on Social Entrepreneurship just completed at Oxford University - and honored ten innovators in this booming social enterprise sector.
They each have powerful stories to tell.
I am learning from my friend, Jenna Raby. She knows many of these business models. She co-founded, LaborFair. It enables time-starved people with the money to hire help to find reputable workers fast and ensure they get a fair wage. Think of LaborFair as an eBay for household services with fair trade built into the business
I think LaborFair goes to the heart of supporting the working poor - and connecting them with people with a social conscience who want their spending choices to support their moral ones. I have an idea for another kind of business with a similiar end goal.
There's a Sufi saying, "God makes only co-equal partners."
What resonates with me are the social enterprises that work "with" people so they can achieve a better life rather than the inadvertently condescending side of charities that "help" the poor. Maybe Jeff Skoll + some of these other entrepreneurs would "talk" to/with our group.
over 2 years ago
I am 52 and hoping to retire in about 5 years. My job is good but I am looking forward to the freedom of spending my time on my own terms. My wife and I have been saving diligently for many years, and will hopefully stay in good health to travel and spend time with family and friends. My wife is a teacher, and we should be able to buy medical coverage through the school district until Medicare kicks in. I am not relying on Social Security too much, but I have to figure out how early retirement will affect my benefits. I also have a dream of hiking the Appalachian Trail after retirement. I used to hike Mt Washington, NH when I was young, and really loved it. (hiked it in Feb one year;
-56 degrees with wind chill). Of course at this age, I prefer the Caribbean in February !
Both our daughter and son are on their own now, so I can really see retirement on the horizon. I really enjoy reading the posts from people on this Eons site.
-56 degrees with wind chill). Of course at this age, I prefer the Caribbean in February !
Both our daughter and son are on their own now, so I can really see retirement on the horizon. I really enjoy reading the posts from people on this Eons site.
over 2 years ago
Want to retire at 62, I will take less $ home but hopefully enjoy it longer.
That's my dream, BUT for reality I'll retire when I'am 6 feet under.
That's my dream, BUT for reality I'll retire when I'am 6 feet under.
over 2 years ago
I'm 57 and 'retired' about 5 years ago. I spend my time as a community and social activist - largely unpaid but occasionally for nominal amounts. My (younger) wife will probably retire in about four years at age 53.
The key to retirement is not to have any debt. That means you have to learn to live on less than you make and invest. It's surprisingly easy to get by when you are debt free.
I was surprised at first to find many other people in their early 50's who no longer work. We spend time at the coffee shops, the gym and the golf course. Most of us fall into one of three income categories:
~ have modest pensions - usually from government or utility companies
~ built up sizable 401k s
~ have alimony income
but we all have the common advantage of being virtually debt free.
Planning to work until an advanced age - hope your health holds out!
The key to retirement is not to have any debt. That means you have to learn to live on less than you make and invest. It's surprisingly easy to get by when you are debt free.
I was surprised at first to find many other people in their early 50's who no longer work. We spend time at the coffee shops, the gym and the golf course. Most of us fall into one of three income categories:
~ have modest pensions - usually from government or utility companies
~ built up sizable 401k s
~ have alimony income
but we all have the common advantage of being virtually debt free.
Planning to work until an advanced age - hope your health holds out!
over 2 years ago
With unemployment running out and no job prospect in sight, I will probably never retire. This country has to start giving their older citizens opportunities.
With all of my years of experience and education, I must be worth a position with a salary that will pay for my basic needs.
With all of my years of experience and education, I must be worth a position with a salary that will pay for my basic needs.
over 2 years ago
I just retired-should get my first social security check soon. I guess how much you need depends on you-what does it take to make you happy?
If you have no debt and live simply-you really don't need that much. If plan on living the high life-then that a horse of a different color.
Getting rid of debt is the biggest factor-if your house is paid for-that is going to save you alot of money.
There are many things to do that cost little or no money-now I will have
time to do them. I plan to spend alot more time with the grand kids, go out for breakfast or lunch with friends, visit relatives with some inexpensive travel.
Check out income investing-you get paid even when the market is down.
If you have no debt and live simply-you really don't need that much. If plan on living the high life-then that a horse of a different color.
Getting rid of debt is the biggest factor-if your house is paid for-that is going to save you alot of money.
There are many things to do that cost little or no money-now I will have
time to do them. I plan to spend alot more time with the grand kids, go out for breakfast or lunch with friends, visit relatives with some inexpensive travel.
Check out income investing-you get paid even when the market is down.
6 months ago
