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What is your retirement age goal?

9,283 Views | 102 Replies | Last: 6 yr ago by AgCPA95
cgh1999
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jja79 said:

cgh1999 said:

aggieband 83 said:

Quote:

I'm 60 and have an 8th grader so never.
Damn!
Lol! That kid lives the life of Reilly.


He's working on his retirement too. He's mooched off me all this time but now he's gainfully employed. He started saturday as a golf cart and driving range wrangler at Houston Oaks. About time.
What a sweet set up. You have to drive him to work. He's working and you're playing golf, drinking beer, and hitting on the hot tennis instructor. Maybe it's you that is living the life of Reilly!
jja79
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This was a one shot deal at raising a golf hustler and world class tailgater. You know him.
The Wonderer
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jja79 said:

I'm 60, not 100.


Touche
SW AG80
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I'm 60 and plan on retiring Dec 31, 2020. I will have just turned 64. Want to have enough $$ to run and play.
62strat
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Interesting story for my dad;

My dad worked in O&G his whole career, and went on his own consulting in 2001 (about 50 years old). Did it for 10 years or so, retired for a year, and then wanted to go back upon hearing of a start up with some people he knew hoping for a buy out. So he hired on. Now, 4-5 years later, rumors of a buy out are floating. He owns enough company stock to get him into low 7 figures when that happens.

Course, 2015 crash delayed this quite a bit. He was hoping for a quick 1-2 years in and out.

He made great money while consulting for 10 years.. but putting in these last 4-5 years could give him an extra 6 figures a year or so for his retirement.




Pelayo
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SW AG80 said:

I'm 60 and plan on retiring Dec 31, 2020. I will have just turned 64. Want to have enough $$ to run and play.
I sweat not having enough. One of my worst nightmares.
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AggieChemist
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I'll probably never retire.

I'm looking to "semi-retire" in about 15 years at 55. Then I will probably pursue a part-time professorship at a small university, teach a couple of classes two or three days a week and fish the rest of the time.
MAS444
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Like jja79 said, likely never (had twins at 42)...but "early retirement" has never really been a huge goal anyway.
Wife is an Aggie
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Man you guys who are having kids in your 40's is my current biggest fear. Our kids will graduate high school in our early to mid 40s assuming I don't slip any more past the goalie.

My plan is that we have mortgage paid off before kids leave for college. With my current investments and annual contributions I think I could definitely be in shape to retire mid 50's but way too far away and way too many variables.
MsDoubleD81
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In my heart would have loved to at 55, now considering 59-1/2, but more realistically (financially) 62. I laughed before the election that i was going to retire, take pension in a lump sum, blow it all, then let Hillary and/or Bernie take care of me. Working is more fun now with Trump in office
jja79
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I wasn't planning to be 60 with an 8th grader. It's been great though. One time shortly before career day his 5th grade teacher called me and said he wanted to bring his physician brother instead of me and she asked me why he would say something like that. I said well his oldest brother is a physician and she said "how the hell old are you?"

That's not really retirement planning related but if it happens to you embrace it.
AliasMan02
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Wife is an Aggie said:

Man you guys who are having kids in your 40's is my current biggest fear. Our kids will graduate high school in our early to mid 40s assuming I don't slip any more past the goalie.

My plan is that we have mortgage paid off before kids leave for college. With my current investments and annual contributions I think I could definitely be in shape to retire mid 50's but way too far away and way too many variables.
Not quite in my 40s but about to have our first of at least a couple. It's later than I would have thought if you'd have asked me when I got married at 24, but I'm not worried in the least. We haven't squandered our DINK days, and the wife never even made that much, as she was in the non-profit world. Our retirement at 60 is basically set as we stand right now and we have plenty to savings and income, and no debt but the house, to get a jump on saving for college and such.

There are certainly people out there that we know who have spent their 20s and 30s living high on the hog before starting to have kids, with little to show for it, but it's still manageable.
RK
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Kids cost about the same whether you have them at 25 or 45. If you plan on them and plan on retirement, when they come along shouldn't have too much impact.
Fightin_Aggie
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jake2011 said:

Mine is 55 when last kid graduates college. What say you?
never had a goal. Always want to be doing something. I believe that your mind will go if it is not challenged. Still working on finding the career that I enjoy enough retirement doesn't seem that fun. So far I haven't found it but I enjoy what I do even if it is a pain in the ass some days.
Fightin_Aggie
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Wife is an Aggie said:

Man you guys who are having kids in your 40's is my current biggest fear. Our kids will graduate high school in our early to mid 40s assuming I don't slip any more past the goalie.

My plan is that we have mortgage paid off before kids leave for college. With my current investments and annual contributions I think I could definitely be in shape to retire mid 50's but way too far away and way too many variables.
Just had my second and my wife and I are 39. Tried to have them sooner. Sometimes that does not work out. Very happy to have them. The good part about having them at this age is that we make plenty of money and have time with the kiddos. The bad part is we have demanding jobs that don't give us as much time as we would like with the kiddos.

If that sounds like a contradiction then you read it correctly. Definitely a tough balancing act. Just always trying to make sure we keep up with our responsibilities for both the job and the kiddos (not always in that order)

Of course there are always trade offs no matter when you have kids. But definitely worth the sacrifice.
Wife is an Aggie
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Trust me this day and age it is seems more normal having kids late 30s/early 40s than mid 20s like we did. There are definitly pros and cons to both sides but as mentioned if you are responsible and plan accordingly you will be fine.

And to clarify I said having kids in my 40s is a fear of mine now ONLY because we started w kids at 25 and want to avoid having kids in college and a baby at home in diapers at the same time. But agree w jja if that were to happen we would definitely embrace it.

Sorry for the derail!
Jack Boyett
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42 this year and thinking about retiring. I don't really want to stop working, just stop working for the man. I've got my own investments that will support us, but with a tighter budget. I started planning for retirement about 6 weeks after getting my first job. I thought, wow, this kind of sucks. Now I've got a job that I enjoy. Funny how that works.
ColoradoMooseHerd
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I guess I am different than most here. I have no intention of setting a date to retire. I want to be working forever and want to continue building what I have along the way and then pass it all on to the next generations. It also sounds like many of you do not enjoy what you do.

Some have even talked about retirement as when they quit the corporation and then start out on their own. That to me is not retirement but just a career change that allows you to control your own destiny. I just don't see myself settling down and doing a full retirement ever.

Maybe slow down and take longer vacations, but I will always want to be in the middle of things and trying to grow things. Different Strokes for Different Folks.
DadAG10
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RK said:

Kids cost about the same whether you have them at 25 or 45. If you plan on them and plan on retirement, when they come along shouldn't have too much impact.
Not completely true.

It's much easier to let teenagers "have/get" what they want when you are at your highest income level in your late 50's -, early 60's (and frankly you will be too old and tired to fight them and their spending)

FrioAg 00
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Can't speak for others, but that's not the case at all for me. I very much enjoy what I do, and I enjoy being very good at it.

But that doesn't mean I want to do the same thing forever. It also doesn't mean the thing I enjoy doing the most is the same thing that brings the optimal balance of income and enjoyment.

I can love my job, but still love other uses of my time that I want to do more of. Also, you assume that retiring early and providing significant resources to the next generation are muuually exclusive, and they are not.
ColoradoMooseHerd
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FrioAg 00 said:

Can't speak for others, but that's not the case at all for me. I very much enjoy what I do, and I enjoy being very good at it.

But that doesn't mean I want to do the same thing forever. It also doesn't mean the thing I enjoy doing the most is the same thing that brings the optimal balance of income and enjoyment.

I can love my job, but still love other uses of my time that I want to do more of. Also, you assume that retiring early and providing significant resources to the next generation are muuually exclusive, and they are not.
So you didn't read my post.
FrioAg 00
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Part I agree with, but not the part where you assume change (retirement or career change) must translate to not enjoying one's job

And for clarification I can't call focusing more time on things like fishing, golfing and triathlon training a career change. But once a certain financial threshold is hit I definitely plan to divert more time to each, within a large bucket of things I plan to spend my time on
MsDoubleD81
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I just know that the people I worked with who have retired look 10 years younger.
hopeandrealchange
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Early in life I decided I was going to retire early. I saw to many folks work many years and die right before or after retirement. That was not for me. At 35 I decided I would do what ever I had to do to retire at 50. I did it at 46 and have been enjoying every minute. That was 11 years ago. I do still manage a small portfolio of rentals in the south side historic area but that takes very little time. I love this topic and I love talking to people who are serious about early retirement. Most are very motivated like minded. One book that really helped me reach my goal was the strangest secret by earl nightingale. And the second book was the richest man in Babylon.
M.C. Swag
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Wow, congrats! Care to share a bit about your background? Are you Married? Kids? Are you living your 'dream' retirement?
hopeandrealchange
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I married a great girl at 23. Twin daughters both class of 07. Always had a great income and always lived below our means. Kids came out of tamu debt free and are self supportive. It is not what you make it is what you keep. Stay out of the rat race. Read, read and do more reading. It took me a long time and it cost me a bunch to learn not to swing for the fence when investing. Just get on base and stay there. Surround yourself with good like minded folks and share information. You will become who your friends are. Good or bad. Like I mentioned I love this topic and I love encouraging young folks. Dave a Ramsey is also a great resource.
Blanco Ag
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Goal is to "semi-retire" at 50. That means leaving the 8am-6pm grind and moving out of the city. We might be able to reach that goal with some discipline and good fortune.

I think we will have to keep working a bit for the following 5 years to see our youngest graduate HS. Also, as previously mentioned in this thread, maintaining healthcare is a big concern.
Clavell
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57 and 3 months

I'm 57 now
Cyp0111
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I have a goal of 50. I'm 32 now and that seems like a realistic goal at this point but things always change.
YouBet
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ColoradoMooseHerd said:

I guess I am different than most here. I have no intention of setting a date to retire. I want to be working forever and want to continue building what I have along the way and then pass it all on to the next generations. It also sounds like many of you do not enjoy what you do.

Some have even talked about retirement as when they quit the corporation and then start out on their own. That to me is not retirement but just a career change that allows you to control your own destiny. I just don't see myself settling down and doing a full retirement ever.

Maybe slow down and take longer vacations, but I will always want to be in the middle of things and trying to grow things. Different Strokes for Different Folks.
Most people don't enjoy what they do. Most people end up in a job that was not intended but it pays the bills. I would say this board is definitely not representative of America though. A lot on here probably enjoy their jobs but still want to retire early or do something different at some point.

I ended up in a job that was never intended in a field I knew nothing about until after I got the job. Luckily, I love it and work for a great company but it's no where near my original career path and undergraduate degree. I still want to do something different though at some point. Just not sure what. Having a sizable nest egg to fall back on will give me time and the wherewithal to figure that out.
AliasMan02
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Planning to retire early is all about options and obligation. Even if you love what you do, you can still have other passions you want to pursue or new things you want to try.
FrioAg 00
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Ill be able to retire with my original spending goal by 46, but don't plan to retire until 50. Call it "playing with house money", plus you can't do that much travel anyway while the kids are still at home.

That said : I suspect I'll enjoy my career even more when I know that if I wanted to I could throw two middle fingers up in any damn committee meeting and just walk the f* right out.

Muzzleblast
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I retired at 57.

Save till it hurts.

Life is great. I do what I want when I want.
AgCPA95
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FrioAg 00 said:


That said : I suspect I'll enjoy my career even more when I know that if I wanted to I could throw two middle fingers up in any damn committee meeting and just walk the f* right out.


I've had a few moments like this at work the last month or so and if I was 54 and not 44 I may have given everyone double rods and made a royal exit.

My wife and I have always talked about 55, but maybe take some reduced roles if that is an option. We also have some passive investments we could get move involved with and expand on that could keep income up but allow us to travel more.
 
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