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-- In my family, I the oldest, went into a career that didn't pay much until I was in my mid 30s. Then I traveled and bought things and saved a little, but not much. At 36 I started maxing out a 401K, until 43, then I bought a house and cut back on the 401k. Then last year at 57, I took a small severance package, sold the house, and now make 1/3 off what I did. I'm mortgage free, in our childhood home. So while I have what some might consider to be decent savings, I don't think I have enough to retire, shy of Medicare.
Out of curiosity, since you referenced selling the house you bought, how did you end up "mortgage free, in our childhood home"?
That is a great question and interesting topic to discuss. I am 61 and my sister is 58 and she retired first but only until she realized that she wasn't really ready for that. She was 55 I believe. I guess she was just needing a break. I think my retirement that was pending had something to do with it.
I think when you have siblings and if you are a close family (ours is), you tend to at least start thinking about it more if one retires.
In my family, all of us are self employed so it's a little different but I can see in many of the replies how it could change things; move up the date, etc.
Same as moving.
We live in Florida since our childhood. My dad made that decision for us but I've seen other families move here and eventually, all the family lives in the same area. Very common.
All of us live in the same immediate area - about 10 or 15 minutes from each other - so pretty close.
It's kind of like when we all got married. My brother was the first and he was the youngest; four months later, my sister got married (same boyfriend for a while). Then, it was me and 2 years later, my other sister.
All our kids are within 7 years of each other and there are 12 of them. It's nice actually.
It's kind of like when we all got married. My brother was the first and he was the youngest; four months later, my sister got married (same boyfriend for a while). Then, it was me and 2 years later, my other sister.
Ha ha ha, this is so true! In my family, none of us were going to get married. It was the 60's, man, marriage was for The Establishment. It's just a piece of paper, a way for City Hall to make money, man! Then my brother got engaged, and as we saw changes in his relationship once that commitment was made, marriage started striking the rest of us as something that maybe did have a point. Planning his wedding was cool. They had a long engagement, and by the time their wedding arrived two more of us were now engaged. Every one of us except for one sister was married within five years.
Ha ha ha, this is so true! In my family, none of us were going to get married. It was the 60's, man, marriage was for The Establishment. It's just a piece of paper, a way for City Hall to make money, man! Then my brother got engaged, and as we saw changes in his relationship once that commitment was made, marriage started striking the rest of us as something that maybe did have a point. Planning his wedding was cool. They had a long engagement, and by the time their wedding arrived two more of us were now engaged. Every one of us except for one sister was married within five years.
1982 All single; having Easter brunch with our parents and then within 4 years - all married and having kids of our own. Happened really fast. By 1991, there were 12 grandchildren. All in 7 years.
But seriously, IF siblings are relatively close in age, it wouldn't be unusual at all for them to have life events -- like marriage, children or retirement -- close in years.
As for retirement, one factor would be siblings seeing the first one to retire enjoying that retirement, and start to think about that also.
However, more of an "effect" on other siblings could happen if one or two retire well -- and others -- who may want to -- can't afford to retire. Could there be resentment? Sure. Should there be? No. (All things being equal.) But, humans are funny that way. Who knows what -- if any -- the already existing dynamics were between the siblings.....for reasons that could go back G-d knows how long.
Makes sense, actually. Guessing Bette's family all married in their mid 30s, which means you don't wait to have kids. The moment you say "I do" you get busy!
My sister is the oldest and she retired at 62. I was 62 in January and like my job too much to retire. I am not jealous at all. I have 2 younger siblings 61 and almost 60 and I don't think they are in any big hurry to retire either.
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When it happens -
