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Never. As long as I can talk I will be doing something. I'm doing network marketing and financial services so it's all about building that residual income by helping young folks make a decent income and renewals from financial products.
Whenever I have a busy time in my life (which has been a lot these days) I think about retirement. Not so much because I hate work, more for the time it affords. I'd love to piddle around more rather than the constant rush rush rush.
So realistically; given where you are financially and with what you are saving, anything else you anticipate coming your way financially, etc.
I am not stopping work until my youngest millennial either has a decent job with benefits, or until he develops his own business and can afford to buy benefits. He is really hustling, but this economy has dealt the younger generation a bad hand. Apron strings be dam*ed - I intend to backstop him until he is on his feet well enough that he does not live in fear. That could mean another ten years. I hope not.
I like my job, although I would not do it unless I was being paid. And when I stop working, I do not intend to ever see the inside of a work place again. Cold turkey, that's the ticket!
If you want to be technical, I haven't been in the workforce since I was 18. It took me 4 years to spend what I made, and by then I was married and had passive income source #1. Now I have passive income source #1 and 2, with a potential 3 if I was willing to put some effort into that. (I'm not, currently busy with 3 kids in 3 years.)
What I'm working on is getting my husband retired, or at least go "hobby time". Meaning, a part time job that he enjoys and gets him out for a few hours every week and not get cabin fever. Anticipating 1.5 years right now, but definitely by then time he's 40.
In no way am I bored though. I have a plethora of hobbies that I've been enjoying since I was 5 years old. I have half a dozen more I want to add when the time is right. I'll have more than enough to do until I'm 95.
I hope to one day find a career that I enjoy so I won't even think about quitting.
Why retire if you like what you do? It will keep me busy. What would I do after retiring anyway? Sit on the couch and watch TV or take random trips to different places? That would get old after a few months.
You nailed it.
I am now 65 and could retire any time I like but I really enjoy what I do. I was retired for a few years and I hated it.
My observation is that people who want to retire can't afford it and those who can afford it don't want to retire.
Have you ever wondered why Warren Buffet, Bill Gates, and Steve Jobs until his death keep working? They have unlimited funds but they choose to remain productive.
When I say retire, I don't mean do nothing. Of course you would still be productive...but in a way that you want to be productive, meaning that you don't need to rely on $. One can volunteer at any number of things, or work part time at a low stress job, learn juggling and perform for kids, get involved in one's religious organization more, travel, devote time towards a sport, learn carpentry and build cabinets, study chess and strive towards becoming grand champion, etc. There are an endless amount of things.
So of course I don't mean do nothing. I just mean do what you want without the need to do what you don't in order to make a living.
This is what I had hoped for but I don't think it will happen. I would need to have the house paid off and enough money in the bank (or drawing from a pension) to serve as a bridge until I can touch my Roth IRA at 59 1/2 and Social Security when I hit my 60s. I don't think it is going to happen. So, I imagine that I will work until I am ready to begin withdrawing from my Roth IRA, probably at 60.
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