What age do you guys plan to retire?

assegai · Post by **assegai** » Sun Feb 22, 2015 7:36 pm

Wow, a lot of people did some great saving and investing and are retiring young. I got started slower, and probably won't be able to retire until around 65. But at least I got started when I did.

TradingPlaces · Post by **TradingPlaces** » Sun Feb 22, 2015 8:28 pm

keystone wrote:Early retirement has been a goal of mine since I graduated from college . I am planning to retire on my 49th birthday (I am almost 41 now). What I will probably do is take some time off then and try to find a decent paying part time job. I don't think I will be able to resist the opportunity to sock away more $$$s with catchup contributions in my early 50s.

Also, my son will be 10 at my targeted retirement date and I fear that I won't be setting a good example by fully retiring. That's why I think a 3 day per week job would be a good compromise.

Setting a good example aside, I think being able to work either:

- a consistent 3 day workweek, or
- work about 60% of the time, with the rest of the time on vacation.

Would be a great deal.

zaboomafoozarg · Post by **zaboomafoozarg** » Sun Feb 22, 2015 8:41 pm

letsgobobby wrote:
zaboomafoozarg wrote:My goal is financial independence between 45 and 50. I'll see what I feel like doing once I get to that point.
Yes, this is our plan, too. I'm 41 now. I think we'll get there, but I'm liking work a bit more right now and not wanting to kill the goose that lays the golden egg. Going part time - say 3 days per week, or 150 days per year - is starting to sound really good. The biggest bugaboo is health care. We've got to have it.

Yeah, I don't mind my work right now either, so I might keep working. A lot of shtuff can happen in 15 years though

I would REALLY love to be able to take 2 or 3 months off, then go back to work for a while. So when I get to the point of FI, I may consider 1) switching from FTE to independent contractor, or 2) seeing if I can get a sabbatical from my employer if they want me to stick around.

At my company, some people have successfully switched to 4-day work weeks at 80% of their salary. If that's still a possibility down the road, I may consider that as well.

englishgirl · Post by **englishgirl** » Sun Feb 22, 2015 8:44 pm

Somewhere between 59.5 and 67, probably, with an outlying chance of somewhere between 55 and 70. I know, that's not a very small window, nor is it in any way any sort of accurate prediction. I figure I'll know better when I get closer. 58-59 is my current best guess of the earliest point at which I'll have enough. Waiting to 59.5 lets me easily tap things like 401k accounts, and also gets me working another calendar year so that's another year of social security earnings under my belt. After that, I guess it all depends how much I am enjoying working, and if my investments did better or worse than hoped. 67 gets me to 35 years of US earnings, and so gets me my maximum social security benefit.

zaboomafoozarg · Post by **zaboomafoozarg** » Sun Feb 22, 2015 8:49 pm

assegai wrote:Wow, a lot of people did some great saving and investing and are retiring young.

This forum is what got me started! So glad I stumbled across it when I was 28... just wish I'd found it a few years sooner.

scrabbler1 · Post by **scrabbler1** » Sun Feb 22, 2015 8:56 pm

Fifteen years ago, I was predicting a retirement in my early 50. But after I switched to working part-time at age 38, that predicted age dropped, so once I was zooming forward with my ER plan, things fell into place quickly and I was able to retire 6 years ago at age 45.

tylerdurden · Post by **tylerdurden** » Sun Feb 22, 2015 9:06 pm

I hope to stop working full time in my mid-40s, and continue working part time (consulting, most likely) in my current field. I want to continue working to some degree for as long as I can, as I enjoy what I do and have several ideas for 2nd and 3rd careers. If my wife chooses to fully retire at some point, I may do so as well.

Grt2bOutdoors · Post by **Grt2bOutdoors** » Sun Feb 22, 2015 9:37 pm

At the age where assets are 30-35x expenses. I've got a ways to go.

Bungo · Post by **Bungo** » Sun Feb 22, 2015 9:38 pm

Aiming for 55-ish, assuming the stock market and Silicon Valley real estate market cooperate.

gatorman · Post by **gatorman** » Sun Feb 22, 2015 9:41 pm

Don't intend to retire ever. I like what I'm doing and I intend to work as long as I can. I may cut back a bit at some point.
gatorman

kingsnake · Post by **kingsnake** » Sun Feb 22, 2015 9:48 pm

In 5 years Ill be 45 and should have FI, but will likely do some sort of part time work or locums thereafter to pay expenses/healthcare.

abuss368 · Post by **abuss368** » Sun Feb 22, 2015 9:49 pm

If only we were allowed to invest as much in IRAs and one can in 401(k)'s!

HIinvestor · Post by **HIinvestor** » Sun Feb 22, 2015 9:50 pm

H fully retired at 71 and I am partly retired at 57. Not quite sure when I'll fully retire--guess when it is no longer fun. So far, I work as much or little as I choose, so it's still fun.

Makaveli · Post by **Makaveli** » Sun Feb 22, 2015 10:21 pm

Aiming for financial independence (25x-30x yearly expenses) at age 40. From here it'll be non-profit or other work of interest.

zaboomafoozarg · Post by **zaboomafoozarg** » Sun Feb 22, 2015 10:28 pm

FredL wrote:People in the thread probably don't like their jobs. Warren Buffet at 85 is still not planning to retire.

I like doing other stuff more than I like my job. Good for Buffet, but I'm not Buffet.

hmw · Post by **hmw** » Sun Feb 22, 2015 11:40 pm

I am 40. Plan to retire at age 54 when my son finishes high school. Probably will achieve FI several years before that.

DVMResident · Post by **DVMResident** » Sun Feb 22, 2015 11:45 pm

Projected FI at 30*expenses between age 45-50 if AA returns 3-5% real and I can manage continuous employment.

Retire? Not sure. I would like to train/teach and be part of my industry's global certification program part-time.

TradingPlaces · Post by **TradingPlaces** » Mon Feb 23, 2015 12:10 am

FredL wrote:People in the thread probably don't like their jobs. Warren Buffet at 85 is still not planning to retire.

+1. But not quite. A lot of them like their careers, but not as much as their independence. To each, their own.

beyou · Post by **beyou** » Mon Feb 23, 2015 12:14 am

zaboomafoozarg wrote:
FredL wrote:People in the thread probably don't like their jobs. Warren Buffet at 85 is still not planning to retire.
I like doing other stuff more than I like my job. Good for Buffet, but I'm not Buffet.

We all select a career somewhere between 18 and 25.
Very few are lucky enough to EVER have a career that they both enjoy
and is lucrative. But to continue that for more than 30 years seems
pretty statistically rare. Few would tell their kids not to go into the same profession.
The world changes, we change, no reason to do the same thing for so many years.

The difference is, as a CEO of a very diversified company, I am sure no two days are the same for Warren Buffet.
I am happy to take his place as my 2nd career, and keep working to 85. For some retirement is play time,
for others a 2nd career, or both. But retire really means moving on. And yes I would like to move on,
even on the days I enjoy being at work.

JeanMich · Post by **JeanMich** » Mon Feb 23, 2015 12:27 am

Retired at 54 when my youngest graduated from college and got her first real job with benefits. She didn't need my health insurance anymore and I could retire. We live frugally but have lots of time to do everything we want. I love it. I wouldn't change a thing

cowboyinasia · Post by **cowboyinasia** » Mon Feb 23, 2015 12:51 am

My plan is to transition to part-time when I'm 55, and then continue for another 3 to 5 years before calling it quits. I'm taking steps now to have that part-time option available. If that doesn't work out, I'll probably just do full-time until 58 and then call it quits at the office.

Jack FFR1846 wrote:My spreadsheet says I retire at 62 and die at 85. I'll just follow the spreadsheet.

Hmm, never thought of that. I'll add a 'dies' field in the calculations and set it to 102. Surely that alone will add some years to my life expectancy.

lack_ey · Post by **lack_ey** » Mon Feb 23, 2015 2:44 am

cowboyinasia wrote:
Jack FFR1846 wrote:My spreadsheet says I retire at 62 and die at 85. I'll just follow the spreadsheet.
Hmm, never thought of that. I'll add a 'dies' field in the calculations and set it to 102. Surely that alone will add some years to my life expectancy.

Hm, Social Security seems to think I'll live until 2070. Hopefully I'll have enough to buy a few hoverboards in my time...

pennywise · Post by **pennywise** » Mon Feb 23, 2015 7:06 am

57 YO and generally planning to retire in 3-5 years. We are financially able to leave whenever we want, but both spouse (61 YO) and I aren't quite ready to pull the trigger.

Keep thinking 60 sounds like a good time to retire but am getting a new boss this summer so after 8 years of major stress and negativity in the workplace, perhaps life will get more pleasant and the grass won't look so green on the retired side of the fence. Or if the new person is a horror show my decision may be quicker and easier than I anticipate.

Feel extremely grateful and fortunate knowing that the work/retire choice is all mine because we won't suffer financially if I stop working; it makes all the difference on the worst days.

pennstater2005 · Post by **pennstater2005** » Mon Feb 23, 2015 7:16 am

My plan is part time, maybe 20 hours a week, by 53. Kids will both be graduated from high school. I figure since the wife is eight years younger than me she can go back full time. I haven't told her about my plan yet

Garco · Post by **Garco** » Mon Feb 23, 2015 9:50 am

I never had a specific plan but expected to retire at ~65. In my line of work, it's common for folks who continue to be productive to stay working. But the relation between my age and critical events (children's ages and college years, market swoons) interacted to lead me to defer retirement til age 70. I'm done retired now.

kenyan · Post by **kenyan** » Mon Feb 23, 2015 11:19 am

My current goal is age 55.

mak1277 · Post by **mak1277** » Mon Feb 23, 2015 11:25 am

Tentatively planning for a multi-year sabbatical starting at age 42. I may decide to work again after that, but I can't say for sure...and I definitely won't ever go back to full-time work in an office.

feh · Post by **feh** » Mon Feb 23, 2015 1:01 pm

Next year, at 50.

Random Poster · Post by **Random Poster** » Mon Feb 23, 2015 1:03 pm

By 40.

Perhaps by 39.

nordlead · Post by **nordlead** » Mon Feb 23, 2015 1:19 pm

My current plan says 55, but it could be anywhere from 50-65. It is too far away to know what is going to happen. 55 looks like the earliest unless I seriously start investing in taxable accounts (not likely).

NeutrinoPerson · Post by **NeutrinoPerson** » Mon Feb 23, 2015 1:22 pm

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dbCooperAir · Post by **dbCooperAir** » Mon Feb 23, 2015 1:29 pm

Planning on financial independence by 55ish, +5-10 years depending on the cost of health care

Logan T · Post by **Logan T** » Mon Feb 23, 2015 1:36 pm

Financially independent in about 15 years (age 43). Then probably continue to work until at least 50. I'll retire completely once I can find something to keep me busy without spending more than I can afford.

Confused · Post by **Confused** » Mon Feb 23, 2015 1:36 pm

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M_to_the_G · Post by **M_to_the_G** » Mon Feb 23, 2015 1:48 pm

I've got about 15 or 16 years left. 50 or 51. I should be good to go at that point, with my pension (federal employee), supplemental annuity, and investment income.

RWeThereYet · Post by **RWeThereYet** » Mon Feb 23, 2015 2:07 pm

Sometime this year, maybe mid year but probably end of year, when I'll be 66.5.

LateStarter1975 · Post by **LateStarter1975** » Mon Feb 23, 2015 2:23 pm

Started late at age 36 with no single savings then and some debt. With my epiphany, I'm trying to rachet it up and see if I can retire by 60.

Tortoise Banker · Post by **Tortoise Banker** » Mon Feb 23, 2015 2:28 pm

Financially independent goal: Age 45

Retirement age goal: Not sure, possibly a shift in career/starting a small business sometime after reaching FI.

Dave C. · Post by **Dave C.** » Mon Feb 23, 2015 2:31 pm

I pulled the plug and retired in May, 2014, at the age of 62. For years I had targeted 64 or 65. It's all in the numbers for me. I ran every retirement formula over and over.....about 100 times starting at age 59. It became clear and more clear as time went on.....I had enough. So we sold every stick of furniture in the house...sold the house,....bought one in Mesa, AZ and left Chicago forever.
I liked my job, I actually liked every job I had. But the freedom of retirement...with the finanical structure to support it....and being able to have my first cup of Joe on my patio in the middle of Feb. all seems right to me.

SurferLife · Post by **SurferLife** » Mon Feb 23, 2015 2:44 pm

Age 47, which is 3 years and 10 months from now. I make good money, and the work is usually enjoyable, but there are so many other things I want to do in life. Of course, there will be unforeseen events that may alter that date slightly, but not by much; there's just too much living that needs to happen to keep going to the office and working at the ol' J-O-B. If I'm going to become financially independent at a "young" age, then I need to get out there and get this body moving, and keep it moving, so it will last for a 30 year retirement.

TxAg · Post by **TxAg** » Mon Feb 23, 2015 2:45 pm

Quick question: what are folks considering "financially independent"?

I asked my wife and she said 42, haha (she just turned 30)

Realistically, our goal is early 50's but it could be 60ish...just depends on a lot of things. Most importantly, I hope we have good health.

RunningRad · Post by **RunningRad** » Mon Feb 23, 2015 3:08 pm

It is my impression that there are some people on this thread, who are very early in their work and personal lives, that vastly underestimate the expense of living over time and overestimate the likely returns on investments. Again, just my opinion....

Tycoon · Post by **Tycoon** » Mon Feb 23, 2015 3:16 pm

The current plan has me retiring at 55.

Was it Eisenhower that said, "Plans are nothing, planning is everthing"?

TxAg · Post by **TxAg** » Mon Feb 23, 2015 3:55 pm

RunningRad wrote:It is my impression that there are some people on this thread, who are very early in their work and personal lives, that vastly underestimate the expense of living over time and overestimate the likely returns on investments. Again, just my opinion....

You're probably right, but this forum is full of folks above the norm when it comes to planning and saving.

chessmannextmove · Post by **chessmannextmove** » Mon Feb 23, 2015 4:12 pm

EyeYield wrote:I'll never retire. @63, Ive been unemployed for four years now though and will only work if a project comes my way that I can be passionate about. For me, being financially independent just means I can confidently say no.
I prefer the reactions by society in general when I refer to myself as unemployed; life seems less expensive.
I found that when I referred to myself as retired, I received more offers to buy/join/sign up for something.

Lol awesome!

island · Post by **island** » Mon Feb 23, 2015 4:32 pm

TxAg wrote:
RunningRad wrote:It is my impression that there are some people on this thread, who are very early in their work and personal lives, that vastly underestimate the expense of living over time and overestimate the likely returns on investments. Again, just my opinion....

You're probably right, but this forum is full of folks above the norm when it comes to planning and saving.

You're also probably right, but hopefully those young planners and savers are also living life and enjoying experiences now instead of hoarding it all away for an early retirement. Just thinking this morning that here in my 50's I would never want to travel 2-3 weeks in Europe in the same manner I did in my 20-30's which was go as the wind blows, hit the ground running and look for cheap digs when I get there or sleep on the train. Now I'd definitly want a slower pace, all my hotels set in advance and I certaintly wouldn't want those cheap digs again!

Marmot · Post by **Marmot** » Mon Feb 23, 2015 4:44 pm

have, age 57. Wife will in May, age 56.

kaudrey · Post by **kaudrey** » Mon Feb 23, 2015 4:53 pm

57. My DH will be 52.

That is the year I hit my FRA for my FERS pension, which I need to keep my federal health bennies.

We should be FI a few years before that, but right now, at 45, I am not willing to say I'll give up the health bennies and retire earlier. That may change depending on how ACA looks in another 8 or 10 years.

avenger · Post by **avenger** » Mon Feb 23, 2015 5:14 pm

island wrote:
TxAg wrote:
RunningRad wrote:It is my impression that there are some people on this thread, who are very early in their work and personal lives, that vastly underestimate the expense of living over time and overestimate the likely returns on investments. Again, just my opinion....

You're probably right, but this forum is full of folks above the norm when it comes to planning and saving.
You're also probably right, but hopefully those young planners and savers are also living life and enjoying experiences now instead of hoarding it all away for an early retirement. Just thinking this morning that here in my 50's I would never want to travel 2-3 weeks in Europe in the same manner I did in my 20-30's which was go as the wind blows, hit the ground running and look for cheap digs when I get there or sleep on the train. Now I'd definitly want a slower pace, all my hotels set in advance and I certaintly wouldn't want those cheap digs again!

My first trip to Europe was when I was 30. And there was no way I could do the cheap digs/hostel thing. Don't think it's just an age thing.

RunningRad · Post by **RunningRad** » Mon Feb 23, 2015 5:49 pm

TxAg wrote:
RunningRad wrote:It is my impression that there are some people on this thread, who are very early in their work and personal lives, that vastly underestimate the expense of living over time and overestimate the likely returns on investments. Again, just my opinion....

You're probably right, but this forum is full of folks above the norm when it comes to planning and saving.

Perhaps. Based on what I have read here, some may have unrealistic expectations of life, of unexpected circumstances and encumbrances, of job stability, of future returns on investments, etc. Of the latter, when all you know is stocks going up, it is very easy to assume that the trees will indeed grow to the sky.

Nonetheless, it is good to see a core group of people living well AND frugally, optimistic about the future, setting lofty goals, etc.