Realistically, when do you think you can retire?

X2

 

Reading this thread is depressing. It sounds like the retirement age for most is about the time I can hope to make a real salary in the field I'm in. I honestly don't think I will ever be able to retire (as in not work anymore ever). First my job is in my work shop in the garage. And second, I still need a terminal degree to be able to apply for the good jobs in my field, the ones I want to do anyway.

 

There is a way to run completely counter to that trend, and that is to do what you love. Then you can enjoy working until you're dead.

Greg

 

Good point, Every time I talk about quitting my job for one with better pay my girlfriend tells me she would not want me around if I stopped doing what I love just for money. That said, who Wants a hand made coffee mug for $35?

 

I have a feeling that I get to retire when I'm dead. SS will probably be gone, miliatry retirement will probably be greatly diminished and my nest egg will mostly be taxed to shit.

Live to work.

 

As of right now I just turned 27 (wow wtf) and I have 36000 in an rrps, 110k in equity of homes and my fiancee has a small pension and is starting to add to an rrsp too. I will have my house paid off in 15 years or less, and the rental house we currently own paid off shortly after. I add at least $15000 into my rrsp a year (just stared 2 years ago so thats why its low) and I expect to have enough to retire, combined with the 200k or so from the house we rent that we will sell, to easily retire between 45-50.
But.........all this talk is with no kids. Once that happens my whole outlook on life may change. Who knows. I just know im happy to have a good start of 36k right now.
Oh, and I have 5000 chilling in my TFSA. Will be adding more to it soon too and keep that in mutual finds.

 

I gotta do the TFSA too

 

This Wednesday is my retirement:
Powerball Numbers 12 33 41 5 15 22

 

Ya it's such a good idea to have. Even if your just saving to dump into an rrsp, you can keep it in the TFSA the whole year making tax free interest (gets pretty high if you understand the manipulating rich people do) and then get double the return by claiming it at the end of the year. I love it so far

 

I've been using an RRSP to offset taxable income in the last couple years and haven't been able to start a TFSA yet but maybe this year

 

Ya this year was the first year I really used my TFSA. Good thing is you always bank that room every year no matter if you use it or not. I put 18% every paycheck into my rrsp now so at the end of the year I have to use previous years non-used for lump sum amounts. That's getting close to used up so I'll be really using the tsfa more soon too

 

I've been aggressively paying down my mortgage

 

using this so if you win we split

 

I did that for a bit too but theres much more money to be made elsewhere when mortgage rates are about 3.5 fixed. Still a nice idea though, thats how I built up 110k in equity (also thanks to getting lucky on a 6 month old house being foreclosed). Me and my finacee talk all the time about what we want more. We dont have any bad habits and most of our bills are just the truck, houses, and 4 wheeler. With no mortgage payment I think one of us could quit and do something else like our own business or something

 

I never get tickets but Im thinking I might just for a laugh

 

37 days, 7 hours, 19 minutes

Still young enough to enjoy life!

 

I was just thinking yesterday that a great graduation gift or wedding gift for a young couple would be to pay their enrollment in a Dave Ramsey Financial Peace course or something similar. I wish I knew then what I know now... And started way earlier than we did.

 

If I want to retire when I expected I need to send my wife to Dave Ramsey courses. She has no idea how to be financially responsible and it is really hurting me.

 

Ya mine likes to learn and tries her best but it's annoying sometimes and I get frustrated when I have to explain things i find easy myself

 

Such as paypal bill me later still ends up billing you later?

Or that when I say make sure the state takes out your taxes on your unemployment that you call and do that regardless if we have a huge tax break having a kid this year?