How old do you want to be when you retire? I'm on vacation and realized staying up late in arguing with you creeps is a lot more fun then working50 hours a week. I'm aiming for between 53 and 55.
I actually like working. I think when I retire I will still own a business or work part time. I would certainly take more time off for vacations though. To answer the question it will be whatever the retirement age is when I get there. I am 33 now so it will probably be like 72? Sad.
You can still work after you retire, or start collecting medicare or Social Security checks. Longer you wait, bigger the check as things stand now so it's your choice. Just because you retire from a career doesn't mean you become lethargic overnight..you can do a lot of things. Money talks if you have the choice to do it earlier.
Didn't start a real career tip I was like 28......feel like I wasted 10 years and am trying to catch up. When I do retire I want a little cabin on the coast for me and the woman and a sat dish on top to catch my NBA LeaguePass.
Thanks to the wonderful divorce laws in Oregon my ex got 100% of my 401K when I was 40. I'll work until 70 whether I want to or not.
If I can stay in my current industry (and especially the current gig), I will probably work as long as possible (of course, I'm still only 31). I make good money, the industry is fun and has a lot of perks, good health care coverage (at least for now), I get to travel a fair amount on someone else's dime, flexible hours. At 31, I'm enjoying life and I've already accomplished the two bigger financial goals I had (bought a big-ass house, though it's probably a bit excessive, and bought a house on the Oregon Coast). I figure even if I ever do "retire", I'll still continue to work because I can make solid money offering various consulting services and/or accounting help (financially and tax-wise). Plus, I make a little money on a few of my hobbies - I could probably turn 1-2 of them into some decent money.
I'll start retiring in my late 50's, but I'll still do 50-100 tax returns during tax season for a little extra income until my brain doesn't work anymore
If the market doesn't tank too often between now and then, I'm on pace to retire by 60 (so 24 more years). Got a very late start to the 401k game but I've been maxing out my contribution for 3 years now, with no reason to stop.
If I didn't want top pay for any of my kids college, I may be able to retire now (47) but it would take a radical lifestyle change. I actually like my work, but I am looking forward to when I don't have to worry about money anymore... it will make work even that much more enjoyable. I have worked with a few people that were close to retirement, and they were loving it. Nothing worried them, nothing stressed them out. That is where I want to get. Both of the people I know who retired recently died shortly thereafter though, so I don't put all my eggs in the retirement basket. We bought a small place at the beach (paid for) that was a stretch at the time, but it like we get to live part of our retirement now, while we can still enjoy it. If possible, go that route. Don't wait for retirement to do things you think you don't have time for, make time for them now. The two people I know that retired recently, both died shortly thereafter.
Which beach? Having a place at the coast is fantastic. We go twice/month. We've been looking at some small cabins out just past Rhododendron - we'd like a place out that way or in the Gorge as well. My dad just retired at 59 (as someone else pointed out, thanks PERS). He's going to find some part-time work, but he's enjoying being off and getting to hang with his grandkids on a regular basis (we have him babysitting once/week and he loves it). He also spends a lot of time at the coast.
I started at UPS when I was 19 and we have that PEER 80 rule where if your time with the company and age equal 80 you can retire. But, I want to stick around for a couple years after that so I can receive that nice juicy Western Conference pension. I've been putting 2.5% into my 401k, but in a year and half when I'm top scale I'll probably put the max amount. My dad's a guy that's always stressed planning for retirement. I've always been kinda 'meh' about it though. I think I'd rather do great things while I'm still young and not washed up.
Yeah, but 2.5% is a small drop in the bucket to pull from your current cash flow to stash away for retirement. You likely made a decent amount on your 401k in the second half of 2013.
It's jack shit. But, I just turned 28 and will max that bitch out in a year and half when I'm making top scale wages. I figure I got about 25 years or so to contribute the max amount. Hopefully, the pension fund is ridiculously nice when I retire as it is right now.
I don't think I'll ever truly "retire" because I will likely always have some sort of project, consulting, real estate or business I'm working on. But as for retirement in the sense of being tied to a job with expectations from a boss... I'd like to be done by 45-ish.
