Realistically, when do you think you can retire?

X2!

 

A big factor in the overall yes.

My wife could retire in 2 months at age 62. Not what she wants but recent issues might have stolen the choice from her. The one plus is I carry all the insurance.

 

Wife’s retired and has a solid pension. I’m eligible and can also draw a solid pension.

The idea is two pensions, then S.S. bumps, then Medicare, then retirement savings/investments/real estate cash outs if/when needed.

The question: when’s it enough?

 

I'm 23 years old with plans to retire late 40's early 50's. A couple years ago I would've said DINK was the route we were going to take but here we are with a kid due in two months. Both my wife and I had established our professional careers in healthcare by 20 and ~65-70% of our take home income is saved. With both of us wanting to return to school for our masters and a kid on the way its realistically going to be late 50's.

 

When its 4-6% of your income producing net worth. Don’t over work yourself out of unreasonable fear.
Walk away when its your idea, not when you end up having too.

 

I max out the 401k instead of the Roth because my income is much higher now than I expect it to be in retirement. That said, I do the max IRA ->Roth conversion every year ($8k in 2024 for over 50).

 

I did the same.

I'm into my 3rd year of retirement.i did do a 72T, since I'm 3 yrs from 59.5.

I could have skipped the 72T, but, why not. Non of us is promised a tomorrow. Why not have some fun while I feel good.

I'm pretty happy.

 

At 35

 

Today would be a good day. Fts.

 

Retired in 2018. Traveled a bit. Modded the truck, and then the VW. Took a welding class, and I am now in a CNC machining program. Thinking about getting a job, but getting up at 5:00 am (again) is a big disincentive. I’ll sleep on it.

 

I'm with you on the getting up at O'Darkthirty.

I thought about a job, too, but decided to just do what I've been doing for the last 30 years. Just do my side gigs more heavy.

 

1722 days, 7 hours and 13 minutes.

 

70

 

7 years, 9 months, 22 days. Unless they don't fire my boss this week, in which case, I'll make it 5 years, 9 months, 22 days.

 

Right now at 33 my retirement income will be what I make now minimum. Ideally more. But if that household income should jump way up later I’ll swap to more traditional.

We want to retire in our 50s and right now health insurance will be $2k/mo including expenses in addition to premium. I can’t imagine retiring on less than $120k/yr (and our home is paid off).

Also Roth coversions have no limits, only contributions. You can Roth ladder as much as you want.

 

What helps the insurance hurdle is the affordable care act. I'm hoping to keep my income down low to help the costs.

 

This what we doing. You need to be careful that you only bring in exactly what you need or you lose the cheap insurance. As well as we have a pretty steep deductable. I think we have to pay $14k before the insurance kicks in.($7k/person).

 

Into it 3 years now

I’m in Hawaii right now

Tons of Tacos!

 

Agree, PA does have a health insurance calculator on its web site, it's nice to play around with the numbers. I do know Roth income is best , it's not counted towards "income" . Like others I've been converting some regular Ira every year.

 

Don’t make your last day of work a ride in an ambulance, there’s more to life than just work. Start your plans early, and pay yourself FIRST.