Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I retire October 1st at age 60. I was lucky enough to have a great economics professor years ago who opened my eyes to making your money work for you and it certainly has paid off.
We worked hard, invested wisely, and paid attention to our money. Put 2 kids through college with no debt, have a nice house, 2 newer cars, and a few toys all paid for. We don't worry about money anymore and have started to indulge ourselves. My wife is retiring too as I explained our finances to her.
Can't to experience freedom!
I Estimate my net-worth in 15 years (at 52 years old. 37 now) to be around $5M assuming max contributions, and a reasonable (i think) ~6-7% annual return. (currently $1.5M)
I think that may be enough for us to retire on. (Not counting on any Social Security or anything like that, cause you never know). Our current expense are very low at around 40k a year...I expect our expenses to increase given our desire to travel more in retirement.
But i will probably would still want to work part time....we'll see.
Regardless, it's a bit depressing when you think that 'the party is almost coming to a close' soooo fast
So am I the only weird one who just wants to keep the party going? I truly enjoy my job, and all previous jobs. I don't know, guess my perspective will change in 20-30 years, maybe I'll become more jaded or something. And yes I have enough money saved to quit today, but for what?
So am I the only weird one who just wants to keep the party going? I truly enjoy my job, and all previous jobs. I don't know, guess my perspective will change in 20-30 years, maybe I'll become more jaded or something. And yes I have enough money saved to quit today, but for what?
I didnt mean party as in the job. I meant life as a whole. Its depressing a bit to me that I'm even considering retiring....feels like yesterday that I was a teenager. Anyways, just wanted to clarify what I meant.
Ideally 70. That's when my pension maxes out. Of course, if another depression hits earlier, it may be accelerated. Every day at work is another blessing.
Never. I was a stay at home mom for several years and never really made much money when I work. I've got retirement savings and always participated in retirement programs as available. But I have no illusions that it will be sufficient.
Luckily I"m in a profession I can continue to do when I'm old. Many of my peers work part time when they are aged.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,712 posts, read 58,054,000 times
Reputation: 46182
Age 30-35 can be a great time to retire.
1) stayhome / travel with your kids
2) exploit / invest your healthy years in someone besides your employer
3) good time to try other things (and time / strength to recover)
4) you can be of great service to your family and community at age 35
5) develop a legacy (apart from a work routine)
Go back to work when the kids leave home(if you must), I will bet you will figure out a more attractive option.
So am I the only weird one who just wants to keep the party going? I truly enjoy my job, and all previous jobs. I don't know, guess my perspective will change in 20-30 years, maybe I'll become more jaded or something. And yes I have enough money saved to quit today, but for what?
As long as you like what you're doing, that's fine. The point is to give yourself options/breathing room if your desires change or your employment situation changes for the worse.
So am I the only weird one who just wants to keep the party going? I truly enjoy my job, and all previous jobs. I don't know, guess my perspective will change in 20-30 years, maybe I'll become more jaded or something. And yes I have enough money saved to quit today, but for what?
I'm in this camp too. There is more than one way to "win" the retirement game. You can make a big pile of money doing something that you dislike for a few years so that you can retire early, or you can develop a career that you love and work a bit longer. If you have the flexibility to retire early after doing something you love, fantastic. You just don't want to be in a position where you have to do something that crushes your soul until the day you die.
So am I the only weird one who just wants to keep the party going? I truly enjoy my job, and all previous jobs. I don't know, guess my perspective will change in 20-30 years, maybe I'll become more jaded or something. And yes I have enough money saved to quit today, but for what?
I think you're fortunate to be in the position you're in where you enjoy your job enough to where you have no desire to do anything else, and have the savings where you could make that call if you needed to. It's a rare person who achieves either, you've done both!
As for you "for what" question, some people retire early just to be able to have the freedom. Reporting to a job every day (usually) dictates where you live, what you wear, what time you wake up, etc. it really dominates the choices in life both day-to-day and long term.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
