How close are you to being retired?

[brianmanahan]

It seems I am in the minority when it comes to never wanting to work again. Oh I'll do stuff. Just not going to work for nobody anymore!

i feel the same way! all my jobs have been memory and thought intensive, but after brain surgery i dont know how long i will be able to continue to think well enough to work.

 

[dud]

As for myself I can retire in about 34 months ... And I may do so. Ironically, my eldest can retire before me.

To all who claim that they would lose their minds and have no plan to retire I would like to share a short, true story:

A long time ago in a magical place called my 20s I was lucky enough to be a member of an organization with an 80+ year old employee. I only got to spend a short time with this man as he was retiring. What amazed me about this man was the history that he had lived through. This gentleman had once worked with Charles Lindbergh! I also learned the terrible truth that the man had lived so long that he had outlived his beloved wife and at least one of his children.

I was honored to drive this gentleman to his hotel after his last day of work. Unfortunately, I had learned that he died within a year of retiring. Take what you will from my story ...

 

[olds]

I could probably retire at 60 but I am staying till I am 62.
Edit: I am 56

 

[Imp]

In a year if Canada tanks in the coming year -- it's almost in the books, just a matter of how much and how soon. Fingers crossed!

I'd still work, just only stuff I want to do.

 

[brianmanahan]

In a year if Canada tanks in the coming year -- it's almost in the books, just a matter of how much and how soon. Fingers crossed!

I'd still work, just only stuff I want to do.

i thought you were 25?

but maybe i confused you with mayne

 

[AdamK47]

Probably in 15 years. 35 now. Going to do the early retirement thing.

Living below my means. My wife makes half of what I do. We're capable of paying all bills each month with just her income.

 

[Reasonable Doubt]

People who retire then die shortly after they retire probably retired because they were sick. I believe that is what happened to a family member of mines.

 

[Imp]

i thought you were 25?

but maybe i confused you with mayne

A bit older than that, but I put it all on black.

 

[mmntech]

I think Generation Y can look forward to Freedom 75, if they're lucky.

 

[brianmanahan]

I think Generation Y can look forward to Freedom 75, if they're lucky.

not if they save half the money they make

 

[Engineer]

not if they save half the money they make

With real wages declining, especially more among those that are younger (generation Y), I doubt that could happen, even if they wanted to.

 

[Atomic Playboy]

At my current rate of savings I will be able to retire approximately three years after I die.

 

[jlee]

About 10 years unless I buy more expensive toys.

With real wages declining, especially more among those that are younger (generation Y), I doubt that could happen, even if they wanted to.

I think most people would be surprised at how much money they spend unnecessarily; it's probably easier than most realize.

 

[pete6032]

A long way, 35-40 years out yet.

 

[Engineer]

About 10 years unless I buy more expensive toys.



I think most people would be surprised at how much money they spend unnecessarily; it's probably easier than most realize.

Not sure if serious. You think that most people could save half of their incomes? Remember, I'm not talking about the stereotype ATOT member, I'm talking about real people who live in the real world. Maybe generation Y could though since most of them still live at home because they can't afford to get their own place.

 

[Slew Foot]

aiming for the day before i turn 50, about 13 years from now. Hope to have the house paid off and the kids college fund set. we dont spend much at all aside from our mortgage/taxes/health insurance. aside from that we spend less than 2000 a month.

 

[jlee]

Not sure if serious. You think that most people could save half of their incomes? Remember, I'm not talking about the stereotype ATOT member, I'm talking about real people who live in the real world. Maybe generation Y could though since most of them still live at home because they can't afford to get their own place.

I didn't say most people could save half of their income - I said it's probably easier than most realize. Most people think it's outright impossible.

I don't save half of my income, but if I include my employer match percentage for stock and 401k, I am at around 33% of my gross (non-rental) income saved/invested without any substantial impact to my quality of life. I also buy used cars, have roommates who effectively pay my mortgage for me, I don't go out and drink on the weekends, etc.

 

[Engineer]

I didn't say most people could save half of their income - I said it's probably easier than most realize. Most people think it's outright impossible.

I don't save half of my income, but if I include my employer match percentage for stock and 401k, I am at around 33% of my gross (non-rental) income saved/invested without any substantial impact to my quality of life. I also buy used cars, have roommates who effectively pay my mortgage for me, I don't go out and drink on the weekends, etc.

Sorry, but you responded to my quote of brian where he stated that people wouldn't have an issue if they saved half of their income. It's all in the context in this situation.

I do agree however, the people can save far more than they do. If we ever did that (and became Japan), our economy might collapse and become stagnant like Japan's has (for decades) though. Not sure if we would be better or worse off.

 

[Carson Dyle]

I also buy used cars, have roommates who effectively pay my mortgage for me, I don't go out and drink on the weekends, etc.

So, when you retire at 45, do you plan on continuing to have just as much fun? :'(

 

[Engineer]

So, when you retire at 45, do you plan on continuing to have just as much fun? :'(

Saving money can be damn fun! :awe:

 

[Grooveriding]

I plan for 55, so in a little under 20 years. I don't plan to completely stop working, but as far as having a schedule and coming in to work, I plan for that to end for at 55 and continue to do some work remotely from a station at home. My wife wants to continue working as long as she feels able to, so with our plan to have our first child in three years I'll be semi-retired around the time our first is just getting into high school and playing at home Dad to a second most likely.

 

[jlee]

So, when you retire at 45, do you plan on continuing to have just as much fun? :'(

I need more time than I have, not more money. I spent a week with my gf in Baja over Christmas and the entire trip (excluding fuel) cost like $130 USD. Even if someone else is paying, I don't generally have more than one or two drinks if I do go out. Drinking isn't my idea of fun, nor is going out to eat.

I would keep my roommates even if I didn't need the money. We get along incredibly well. I also see absolutely no net benefit in buying new cars, and I don't feel deprived in the slightest by driving what I do.

So...when I retire, I'll have more fun because I will have the freedom to do whatever I want, instead of working five days a week and cramming my annual fun into a meager two weeks of vacation.

 

[skyking]

I get full pension benefits @ 62. I may continue till 65 as my wife is younger and will want to keep working. I hope she can retire closer to me.
Edit I am 54

 

[Atomic Playboy]

I think most people would be surprised at how much money they spend unnecessarily; it's probably easier than most realize.

I disagree with the idea that people spend money "unnecessarily." They spend money to entertain themselves. Maybe they could find cheaper hobbies, but nobody is going out and buying things because "FUCK SAVING!," they do it because it brings enjoyment to their life. And, frankly, that's important. Everybody deserves an opportunity to snatch some happiness, even if it comes at the expense of prolonging an uncertain retirement.

 

[Nograts]

I disagree with the idea that people spend money "unnecessarily." They spend money to entertain themselves. Maybe they could find cheaper hobbies, but nobody is going out and buying things because "FUCK SAVING!," they do it because it brings enjoyment to their life. And, frankly, that's important. Everybody deserves an opportunity to snatch some happiness, even if it comes at the expense of prolonging an uncertain retirement.

I'd be willing to bet he was referring to things more along the lines of "Oh well I'm here to get some gas might as well grab a coke. Oh might as well grab a muffin while I'm at it. Oh look the newest issue of the tabloids is here, better pick that up."

That's the way I read it at least.