At what age do you plan to retire or
 

have you retired, what age?

I'm 34 and in Law Enforcement. I gave 20 years to go god willing. Ill be 54 when hit 30 years. and plan on doing a year are 2 in the drop.

81 or death. Which ever comes first.

59.5 or whenever I win Powerball but of course I have never bought a ticket

45 now need to go until I'm 48 then I will hunt and fish for food!!!!

I act like I'm retired does that count

Probably never.


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Well if you guys would pony up the 5 to buy our book I might be retired now. With a few good reviews it will start hitting the search engines and pay enough for us to write another.

Retired at 60, now 66, but helping my daughter/son-n-law build another house, is tough!!!

51. Ill be 47 in a month just waiting to get one more through high school then ill be fishing the white and buffalo river...........

And I'll be coming to visit you

Im actually up here NOW working on my house.
Thought about going fishing tomorrow but the rivers high and i need to seal and stain some more cedar beams and brush hog......... :(

I'm almost 52. I've put a minimum of 10% in 401k since age 32, and have been in the aggressive mode all these years. I am FAR from even thinking of retiring. The way I figure, I never will retire. With the oil field laying off like crazy, I'm not even sure I'll be employed by the end of the year. IF I could stay employed till 67 at same wage, savings rate, and same company match, I will have enough to semi-retire. I'll hopefully be able to do consulting enough to pay for health care. Happy for guys that can retire early, live out their dreams at a young age. They probably worked their @#$# off and reaped the fruits of their labors, and I know I'm not to envy, but DANG! I wish I could do the same thing.

Hopefully in 2020 from the Air Force, in which I'll be 39. I just need to survive this deployment first

So how much do you think a family of 2 needs to have stashed away to live at their current standard of living?

I'm thinking a minimum of $2 million should give about $4,500/month to live off of, which is not much when you look at car insurance, healthcare, food costs, etc.

Don't want to know anyone's personal info, just what you think is needed for a husband and wife who say make 60k each per year which is pretty avg these days.

May God be with you friend. Thank you for your service.

2mil with a safe withdrawal rate of 3%/yr will net you $60k/yr for 33yrs plus SS if its still around and if of age. Leaving money invested you could potentially have some leftover for an inheritance.

15 more years to go and I'm done

Will have more than enough clients established guiding so I will not have to touch my retirement




But I could also die before that time so ... Live each day to the fullest

exactly... I had a revelation around 10 years ago that chasing more money doesnt=happiness for me. So I decided to become a farmer, have a flexible schedule, enjoy life, and make less money. That being said, I have a Roth IRA I have been putting money in since I was 18

Thank you for your service. My cousin just retired from the Air Force a couple of years ago and is living on the beach in Florida doing consulting work

I just made 38, I've been putting 10% into a 401k for 20 years. I'll probably retire at 65.


Thank you for your service, my best friend from HS has 8 months left..... I shold have followed him but the oilfield was booming at the time and I was chasing the $$$$.

When y'all say your putting "X%" into your 401k, I'm assuming your meaning total combined input, yours plus any matching from the company. My next question would be is your wife doing the same, similar, or nothing. Only reason I ask is I've been putting into a 401k since I was 25. Started at 15% between me and my company and over the years have climbed to where I am now putting in 22% combined. My wife doesn't work however so I have to put in for the both of us. Planning on putting into a Roth IRA when I get my tax return as well. I ask about what your wives put in to see what the norm is. Most wives of the guys I work with don't put into anything so basically I am doing the same as them but putting in more than them. I'm 32 now and hoping to be able to retire around the time I'm 60 but imagining SS will be a thing of the past by then.

My xx% does not include company match. I'm fortunate to work for a fantastic company that, if you put in at least 6%, you get 5% match, then they give us another 4% at end of year (as long as business is good), so 9% company provided, plus my 12% I'm at now = 21%. Wife has part time job at a non-profit, so no savings. As soon as daughter finishes college in may, I'll be able to start saving another grand/mo. since I'm at "catch up" age.

In saving, time is vastly important. starting at a young age is the most important thing to do, that way when you're 52 like me, your money will be working for you. Its the rule of 72. Wish I'd understood that years ago.

My wife and I are self employed, so we will likely never retire. We may just let more of the business go, or hire others to do what we do over the years. We would be able to retire much sooner if we didn't travel quite a bit now, and if health insurance wasnt so freakishly expensive for self employed people. And when I say we travel a lot, a lot of that has been finding fun stuff to do within 5-6 hours of home. Several years back I mentioned going to see what it would be like to camp on a Louisiana beach. Now, several years later, we come back several times a year. So basically, we may never retire, but in our slow times, it kind of feels like we are close to being there for a couple months a year. I'm cool with that. Plus, we just made 12 years married today, and still have a blast together. That helps.

No doubt on starting young. I didn't have an opportunity to invest before the age of 25, but my company is similar to yours that they match 4% to my 6% but give me an additional 5% in place of the previous pension so I put in 6% and get 15% put in total. I put in 13% now and have it set up to increase by 1% every year. The past 2 years I've bumped it up an additional % when I got my yearly raise also. I regret not putting in more than 6% early, I believe I started adding to it around 27.

Just don't get divorced.....murder is probably cheaper......

......but I'm not bitter......

LMAO so I've heard.

Have fished them both. The buffalo is probably one of the nicest fishing trips i have done in my lifetime. 4 days fishing , drifting and paddling.
Just remember when they say you will be camping on the sand bars. the grains of sand are rocks the size of base balls and bigger.
Also it's worth getting there early and making camp just below OH Sh-T shoal one day just for the entertainment.

I put into my wifes one all the time, it's when you put it into someone elses wifes one that the trouble starts.

i retired at 55, i'm 66 now. been the best 11 yrs of my life. i have a pension and ss and run a little welding business. started a hot shot co after retirement and did pretty well, but hated being on the road. really think a young fella could do good in the trucking business if he worked hard and had a wife/book keeper to help out. after a couple years of hard work, he would be mainly just dispatching if he played it right.

I guess I will never really retire, but I do own a business. People tell me I act like I am retired. Big part of why we don't have to worry about money is we had no debt for years and paid cash for a house. I don't mind a little debt now that I have a paid for cash house and an actual net worth. I think about jumping back in the market, but I can turn that money faster and make more money myself through my business. 32, hitting 33 next month. Our biggest yearly expense is education...

Never

irockcj5
 

With 2 mil invested you should expect a 5 pct.avg. return in any market. 100k return annually is more realistic

Try 3 ! ...

Retire ... What's that ? Lmao !

^^^^ This.

I will likely never retire. I love what I do and want to keep on doing it as long as I can. If it ever stops being fun then I will retire. I used to think I wanted to get my Capt license and retire and guide a few days a week but have decided against that.

If your wondering when you can afford to retire, what you will have in after tax dollars compared to what your inflated expenses will be in 20 years, stop by my office and we can run a financial plan.

I'll be sitting fat after the drop. Lmao. jj

I'm only 35 so there's plenty of time to life to happen but I'd like to retire at 55. That's when several of my rent houses will be paid for and will provide a nice monthly income. I'm also maxing out my Wife and I's Ira every year. I'll also probably keep my license and build a couple of homes a year for Extra money

Retired after 21.5 years of paid service in the FD at age 51.5. Was planning on doing 27 years but had some health issues.

Wife had shoulder issues and is unable to work, so I am back working, my schedule, doing truck driving.

Spent 37 years total in the FD.

While public service pay sucks, the benefits are pretty good if you stick around long enough.

I'm 60 now and just started a new job with similar benefits and a much lower stress level than what I left. During my interview the asked where I saw myself in 5-7 years and I laughed, told them my age and said I just wanted to have fun at work for a while. I probably could retire and make ends meet, but a big part of staying employed is for insurance benefits.

X100, hope you return safely.

I'll retire when my dead a$$ falls out the seat.

65 them do something else either part time or start business

Markets have been real good last few years though.ay have to start being very conservative soon with the elections coming soon

With a retirement from the FD I'm looking at 25years I'll be 46 and can do what I want after work wise. Still undecided on doing 25 or 30. But it will depend on where I am and where the department is by then. I will also decide on the drop when the time comes but can't see passing it up. Maxed out at 33years I will only be 54 so I can be pretty much set and still young enough to pursue other avenues. But this is still a LONG ways out.


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Retired at 58 and never looked back (so far) after 11 years. If I had to give you "young'uns" some advice, it would be to load up your 401(k)'s/IRA's and never check the balances until you're within a few years of retiring. A simple rule of thumb that worked for me is your age minus 100 in stocks/equities and the rest in fixed, i.e. bonds, cd's, bond funds, etc.

I'm 26 and been putting 6% in my 401k since I was 21. BUT LITERALLY HAVE NO CLUE about retirement !


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It all depends on when you plan to die....that's what makes the decision to retire so difficult. Having some type of alternative income to supplement your 401k is the key. A few rental properties would be nice to have set up once you retire.

I am looking at investing in Vacation Rentals now, at 32. Tennessee is looking promising as a cheap start and we vacation there every year anyway. I know one day I will pick up something in the panhandle, and something in a fishing town in Louisiana. Rather "invest" the money than give it to the government. Paying cash for properties makes them income earners right away. Probably will keep the majority in TN and NC along the border. Great weather, great clientele, lots of CHEAP property management help.

At what age do you plan to retire or
 

I would never own rental property out of town. It would become a nightmare. But I really think Vacation rentals is where it's at for long term return. You just have to be close by to take care of all the issues.


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I think you meant to say YOLO..

I would like to retire one day but the rate my wife spends money, I will be in the hole until death...