Realistically, when do you think you can retire?

55, but we can reitre sooner than that if we wish.

Currenlty me 30 wife 29, we save 60% of our income in 401ks, Roth IRAs, and rest in after tax, I have an additional profit sharing plan as well as 6% match from work on the 401k.

Started saving when I was 20, we have, and never had, any dept besides a 10 year/90K mortgage on our current home.

No kids, just 2 dogs...

 

.......................
Not like you I was very late into my 40's before we really started to think of/if retirement. Now we had the daughters college and wedding paid off so now to think retire. We were heavy into stock. Dumb luck or what we sold off 100% of the stock/mutual and bought a duplex (new). Then another and now 15 days before I retire have 5 duplex and 4 houses over the past 15 years. This is income of app $120k that you can put app 70% in your pocket after tax/expense,etc....
Where I am going with this you can do it, I started with less at 50 than you are now. If app $1m worth of apartments (not hard one at a time and after about 10 doors they will build one a year off the income). No way in hell could I retire with a $1m in cash (return at maybe 2% is $20k) where the apartments gen cash now to my pocket at app $70k (after exp). And having cash can go south in a second by our govt lowering the value of $.
If you start with one it is a pain in the a$$. But by the time you have about 3 doors it is easier and all costs are covered by the apartments. I did not buy any used, all I had built new so no problems and one duplex here at retirement is several months old and the oldest is only 15 years so no old stuff. I just wish I had started at your age and with what you have put away. And yes with kid or kids your life will change.

 

I retired in 2001, never worked a day since. The wife will retire in 5 yrs, only because she loves her work. Worked hard and invested wisely. Pay everything in cash and live below my means. Built my own house and vacation home. Never buy brand new vehicles, 1-2 year old ones (let someone else take the hit for new). We pace our budget and never spend feverishly. We bought a 5thwheel and travel trailer for trips and a pontoon and cruiser for fun. Life is to short to waste. I do spend everyday with the grandchildren now..... That's life!!!

 

I don't think I'll ever will, after paying for my son's education and mortgage payments for the next 25 years no way I can stop working. Unfortunately I started too late, I wish I would've come to the states 10 years earlier.

 

thats my plan but its harder here where housing prices are so high. We will be buying a 3rd soon but im trying to build one like you said from scratch, but it will take a lot more learning before im ready for that. I would probably want to jump off a cliff if im working past 40-50. Like you said life is too short. Everyday flys by so fast. I need to also talk over with someone in my province so I can get a good idea about how to take advantage of the situations tax wise the best. We have saved currently 21000k in our TFSA so thats what I will be using next for the new house.
Great to hear your story though. Always nice to have a finish line in sight

 

My goal is 55 and if I continue doing what I am doing, it is well within reach.

I am already collecting a military retirement and I have health care for life for me and my wife, as well as burials for both of us.

My current job pays very well and I can retire when I am 50, but I will only have 12 years with them and would like to be a little more comfortable when I quit working. If I go to 55 it gives me 17 years with them and a nice retirement check each month to go along with my military pension.

Additionally, my house will be paid for in 10 years and I am putting 13k a year into my 457b @ 3.5% interest. That will give me 2 pensions, no house payment and about 250k in investments. As it stands today... I could sell all my stuff, move to the Philippines and retire comfortably right now, at 45. I'm shooting for 55.

 

The goal is to retire from a career at 50 but Id like to work part time at a bike shop, bar, state park, or something. Im not one of those people who can just sit around.

 

Hopefully when I'm 57. But in a federal employee so who knows. 57 will be 37 years for me. Only 30 more years to go lol.

But putting 15% of my checks into tsp, maxing my Roth ira every year now (only last two years so far), and putting an additional 5% or so each check into just investments.

Debt wise right now it's only my house...27 years left on the mortgage.

As for post retirement ..My dream now would be to sell my house and property, move somewhere in the mountains and build a nice cozy cabin. Fish, hunt, ski, hike all year. Only job I would consider would be something I truly enjoy such as park ranger, ski patrolled, something like that.

I've looked into "early retirement" for normal people. People do it but I wouldn't care to live that way. Spending no more tha. 10k a year,no vacations, being as cheap as possible basically

 

Hey all,

I retired 1 year ago today at age 56. Been the best year of my life; it wasn't easy to get here but I am dammed glad I put forth the effort.

When I was working I lived with less so I could spend the "less" and it's earnings later which just allowed me to retire earlier.

Spent my ass off last year including my new 2014 Tacoma, topper, trailer, travel, etc.; a life style I'm not accustomed to ....... but I'm getting there.

Work hard while you can; financial independence is worth the effort!
Poncho

 

There's really no point in leaving a legacy, anyone who didn't have a hand in creating it will only squander/fuck it up. For proof, google: 'Huguette Clark'

Due to years spent in the IT industry, I won't get a retirement. Thankfully though I am a partner in a business that I will be able to do well into my 80s. So as the years wear on I can slack off more the older I get. BUT I have no illusions about retirement, ain't happenin'.

 

what age do you all plan on taking social security. I think I will take mine the day I am eligible. This idea of waiting till you are 70 or older only gives the govt more time to squander MY money.

 

Never.

 

If you're under the age of 50, don't count on social security being there at all, I'm not. I have no doubt that program will be long gone by the time I'm eligible.

 

Buy a gold claim and mine it!

 

Well unfortunately or fortunately I am older than 50 I don't think it will run out but they may try and make you wait until age 75

 

I will retire as early as 50 or as late as 63. I have no fear. I know I will be taken care of, one way or another.

 

I will not retire since there is really no way to retire anymore. I will work until I can work no more.

 

I'm not looking forward to retirement as much as just being able to pick and choose the projects I want to take on without worrying about the monthly income

 

Since I got rid of my wife...I can retired 5 years sooner (~50)

 

Probably never. Whether that is through choice or necessity, I don't know, because even if I were to have enough money to retire on, I'd still want to be doing something. So I'll probably work until I die.