When do you think you will retire?

[Exterous]

So I sat down and actually crunched the numbers and, assuming we pay off the house and student loans in the next 20 years (which is almost certain) a 6% return rate on investments, 4% inflation and a 2% withdraw rate there is a very good chance we will be able to retire at the age of 50 with the same standard of living we currently enjoy

I am not sure if we'd actually do it yet as we'd like to be able to travel more. There are also a host of unknowns and things I didn't consider (Gas savings/food savings etc) so its just a very rough estimate

So, for those of us shlubs on ATOT that don't make $500k a year when do you think you will retire?

 

[MagnusTheBrewer]

About 5 minutes before I die.

 

[GasX]

I guess I could retire if I wanted to, but I enjoy my job

 

[Fritzo]

I've scheduled everything to mature when I'm 59: my house will be paid off, and some term life insurance policies will mature that year. That will carry me over until I can get to my 401K, which is coming along nicely.

 

[IronWing]

Based on current savings rate and so forth probably around 60yo. Maybe a couple years earlier if the market stops sucking so bad.

 

[Dr. Detroit]

We plan on heading to Central/Latin/South America at age 45 to rent a place and move around every 6-12-months -

If I can find a job around that age that will allow me the freedom to travel/vacation a lot (3+ months off) while still making a healthy income I may stay for a few more years to pad the retirement account.

 

[Exterous]

I guess I could retire if I wanted to, but I enjoy my job

If I can find a job around that age that will allow me the freedom to travel/vacation a lot (3+ months off) while still making a healthy income I may stay for a few more years to pad the retirement account.

That and the possibility of working remotely may factor heavily in my decision. I expect my wife will want to be doing something different around 50 though

 

[Northern Lawn]

Based on current savings rate and so forth probably around 60yo. Maybe a couple years earlier if the market stops sucking so bad.

According to Peter Schiff run away inflation will wipe out your savings in the next crash. You'll all be Zimbabwe's millionaires.

 

[Greenman]

Never. Heavy losses and a badly damaged industry have made it almost impossible.

 

[Dr. Detroit]

I've scheduled everything to mature when I'm 59: my house will be paid off, and some term life insurance policies will mature that year. That will carry me over until I can get to my 401K, which is coming along nicely.

You can get to your 401K at age 59 1/2 - no early withdrawal penalties.

 

[IronWing]

According to Peter Schiff run away inflation will wipe out your savings in the next crash. You'll all be Zimbabwe's millionaires.

Possibly. It is quite the conundrum isn't it? Don't save and know you're screwed or save and you might still be screwed. The markets may very well continue to suck for a very long time as the baby boomers unwind their equities into "safer" investments. This drives down stock prices and drives down interest rates on savings. Of course with the Fed loaning out money to the banks at effectively negative interest rates there is currently zero incentive for the banks to pay anything on savings accounts. I've never been a fan of gold but it almost makes sense.

 

[Baked]

When I win the lottery. But since I don't buy the lottery, never.

 

[tfinch2]

If we stayed in the same house we are in now for the rest of our life, probably like 45. Since that is not going to happen, probably 55. Since dumb shit will probably happen, make that 65.

 

[Zorkorist]

It always amazes me that Government Employees get to retire at 20 years.

At 40, they are retired/get pension etc.

... See the Police Person?

He's retired... gets his end salary, forever.

-John

 

[olds]

Add 10-15 years.
The economy will tank next year when obama get re-elected and starts printing money to give away to those with their hands out.

 

[Zorkorist]

Obama is on a whole nother realm,

He wants to pay people that do nothing... just for being people.

-John

 

[Engineer]

Add 10-15 years.
The economy will tank next year when obama get re-elected and starts printing money to give away to those with their hands out.

The economy will tank no matter who is elected. You cannot run a "consumer based economy" when you are running low on consumers. Keep shipping middle class jobs out and this is what you end up with....racing to the bottom.

As for me, 10 years ago, I told myself that I'll retire at 45 and be a millionaire. Funny how that didn't work out so well. 401k is muddling along with the market, which is essentially flatlined for the last decade or more. I'm not so sure that we won't have a generation + that won't have the funds to retire and work until they all die.

 

[Lemon law]

As for me I am working on my second Million dollar nest egg. Simply because I long ago gave up on ever getting my first million.

 

[boomhower]

It always amazes me that Government Employees get to retire at 20 years.

At 40, they are retired/get pension etc.

... See the Police Person?

He's retired... gets his end salary, forever.

-John

WTH is a 65 year old cop going to do? With two knee replacements and a bad back he's not going to be a lot of good on the road. Is that who you want working your neighborhood? Not everyone takes desk jobs. On of that the life expectancy of a cop is ~65 years.

I'll be able to "retire" with my pension at 55 with 30 years in. My house will be paid of at 43 and I have no plans of ever moving until I retire at which point I will leave this area entirely. I'll likely pick up something part time just to keep myself busy but for the most part I will retire.

 

[Fritzo]

You can get to your 401K at age 59 1/2 - no early withdrawal penalties.

I'm going to see if I can hold on until 63 to get some extra out of it.

 

[T_Yamamoto]

Never. I will always be 16

 

[Fritzo]

Add 10-15 years.
The economy will tank next year when obama get re-elected and starts printing money to give away to those with their hands out.

Does anyone honestly believe the President is truly in charge of anything? Congress is the one that holds all the power. The President just makes suggestions and does a bunch of "Awww, c'mon guys! Lets do this! Please?"

By the time any idea any president has gets through legislation, it is so watered down and has so many riders on it that it's useless. Then we all sit around and complain the president sucks. That has to be the worst, most thankless job in the world.

We should change things around so the President is actually in charge. Make the democrats and republicans approach HIM with bills, then he decides which ones pass and which ones fail. That way if things screw up or go right, it actually is the result of the President.

[/soapbox]

 

[woodie1]

When do you think you will retire?

About 12 years ago.

 

[SSSnail]

It always amazes me that Government Employees get to retire at 20 years.

At 40, they are retired/get pension etc.

... See the Police Person?

He's retired... gets his end salary, forever.

-John

You forgot too add spiked overtime, and fraudulent time off spike to the end salary. Bunch of crooks I tell you.

 

[xaeniac]

Does anyone honestly believe the President is truly in charge of anything? Congress is the one that holds all the power. The President just makes suggestions and does a bunch of "Awww, c'mon guys! Lets do this! Please?"

By the time any idea any president has gets through legislation, it is so watered down and has so many riders on it that it's useless. Then we all sit around and complain the president sucks. That has to be the worst, most thankless job in the world.

We should change things around so the President is actually in charge. Make the democrats and republicans approach HIM with bills, then he decides which ones pass and which ones fail. That way if things screw up or go right, it actually is the result of the President.

[/soapbox]

So you really want a dictator? You can move to many other countries to experience that, however I do not think you will like it.