Retirement

[hillview]

we plan to be retire ready in about 6 years. DS2 will be off to college then and DH will be 67 and I will be 56. We may not fully retire but we will have that options (hopefully) and also be able to take a step back if we want to.

[gymnbomb]

I would imagine we will retire sometime in our mid to late 60s. DH would retire tomorrow if we had the money (he is only 40 and we most certainly do not have the money!). I really like my job and feel like I would go crazy if I never went to work. But we will see how we feel about everything in 20-30 years.


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[klwa]

I started to work for the state on my 24th birthday, so I will be eligible to retire without my sick leave credits on my 54th birthday, which is in just over 10 years. (Hit 20 this year, which means if I leave the state, I can retire with penalty once I turn 50.) DD2 will be a junior in high school at that point, so it's going to somewhat depend on how I feel about her college fund. DS should be done with undergrad, and DD1 should be finishing up undergrad that year. DH can retire the summer before. I've been spoken to by a couple of contract firms in our line of business, and could probably get a part time job with one of them when I leave here, but not sure I want to do that. Knowing that I don't have to commute will be HUGE!!! I don't see me working full time much past DD2 graduating, if at all. There's too much ELSE out there. I'd love to have time to volunteer and visit family & friends. And just enjoy life.

ETA: DH & I are both vested in the state health plan and will be able to get it at employee rates (very minimal cost) beginning the day we retire. In fact, that's one of the reasons consulting firms really like to bring in former DOT workers. They don't need health care.

[DualvansMommy]

DH is 10 years older than me, so he’s much closer to retirement track and will be eligible for lifetime medical retiree benefits by this summer. Having that said, he prob won’t retire his from corporate job until he’s 60-63 which is only 7-10 years away. By then DS1 will be in college, DS2 in HS. He’s not sure what he’ll do, likely prob go into consulting PT while still earning FT income that’s the same if not bit more to his current salary. He wants time to golf and travel. Mortgage will be paid off by then too, and start looking into getting second home somewhere down by the shore.

I plan on working full time until my late 50’s early 60’s as I’ll be 54-58 when DS2 start his college life/graduation from higher ed. Likely switch to PT in my current job, as it’s fairly stress free, great balance of work/life and want to keep at it until l physically can’t. I don’t want to be bored, that would be my main fear about retiring completely.


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[jgenie]

DH is 53 and realistically plans to work for at least 10 more years my guess is more. Our youngest is 11 we still have a mortgage but thats really the only thing we have and its at some crazy low interest rate ( like 3%) I cant wait for my 16 yr old to head to college ( hes a PITA right now) DH will probably do consulting at least part time when he does retire and golf. I will keep on keeping on. We will probably travel a bit but he likes his profession and I cant see him just sitting home and golfing everyday He'd drive ME nuts.

This is pretty much my story except my guys are 10 and 12 and not yet driving me nuts but I know my days are numbered!! I don’t foresee my DH ever retiring completely. He will do consulting as long as he can.

[mommy111]

Can I ask what you guys are reading? It seems like a great idea

[georgiegirl]

I’m already retired

I can’t see my DH wanting to retire for a while. He enjoys his job. We haven’t really thought about retirement. We have already paid off our mortgage a while ago, and kids have a decent amount in their 529s. And he does have nice amount in his retirement accounts. DH is 46 (I’ll be 46 next month), and the kids are almost 14, 10, and 6. Maybe when the kids are all off in college?

[StantonHyde]

DH and I are 55 and didn't have kids till 37 and 40. I took the mommy track to balance his ER MD career. So we have had the one income with me being part time. We will both be working till we are 65 or 70. We are totally ok with this. As for doctors, there are many who do NOT do well in retirement. (my dad spent 3 weeks in the psych hospital) One of my dad's colleagues started a support group for "People who Used to be Important but Now are Not". It's a tough adjustment. DH knows a retired MD who is 90 and still volunteers one day a week to do physicals at a clinic for the working poor.

Bottom line is that people need a purpose, a reason to get out of bed and get going. DH's grandfather played golf every morning at 6 am with his buddies. My grandmother had a farm to look after. Others volunteer, switch to a low pressure PT job etc. It's a really bad idea to think you are going to be happy doing only your hobbies and nothing else. (hobbies are great when you have limited time, but they rarely fill your day and all of your needs)

[Kestrel]

We have set our savings/investments so we could retire at 50. However - we did not factor in the massive increase in health insurance prices. DH's health insurance went from $410 in 2000 to $1149 in 2020 - that's per month, just for him. DS & I together are another $650, for $1800 a MONTH in health insurance, and only modest coverage for DS & I. (DH needs more for a serious health issue.)

We are actually meeting with our investment person next month to try to set new goals, but with the massive increases, there's no end in sight. It sucks that we have scrimped and paid stuff off and saved and invested, and can't do what we've saved 20 years to do.

[niccig]

DH hopes to work to 60, 8 more years, that gets DS through college. I’m 5 years younger and I carry the benefits, so DH told friends when they were discussing this, that I’m the retirement plan! I’ve only got 5 years with the school district so I need to put in many more years. I should talk with someone to get an idea what my pension would be if I don’t work to 65. We’ve been saving for retirement and college so hoping there’s enough. We may need to relocate to cheaper COL too. I have more options to maximize income once I’m not needed to chauffeur DS, so I’ll start that in a few years too.


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