<p>It really is wonderful to be able to retire so young if that is what you want and can manage. I really am impressed. I couldn’t even touch my pension and 401K till I was 59.5 and much later for SS. That would have been an extraordinary amount of sheer savings accounts on which to draw for many years. You had to have been making big bucks to fund that plus retirement funds. What do you have for health insurance? I’m guessing it is employer provided? (me, no, don’t have that benefit).</p>
<p>VaBlueBird, nowadays one can get coverage from one of the state exchanges.</p>
<p>H and I could probably retire now, if we moved to a less expensive area such as the rural midwest where we both grew up. That’s Plan B, if we need it.
One reason I am not in such a hurry to retire young is that I spent 11 years as a SAHM. I don’t regret it and enjoyed it, but am also glad to be back in the business world, at least for now. One thing though, I did so much volumteer work during those years that I have no desire to have any sort of regular volunteer commitment when I retire.</p>
<p>Yes, the state exchange insurance plans must be good for those who were only hanging onto a job for health insurance!</p>
<p>Actually, that’s a lot of people over age 60. Since Medicare doesn’t begin until age 65, many people needed to continue to work until they and their spouse were both Medicare-eligible. </p>
<p>I’ve always thought that health insurance should be decoupled from employment. I knew so many people who were unable to change jobs because of a chronic health condition, or who would have liked to start a small business, but had to keep their jobs for the health insurance. </p>
<p>.>>>>>
What do you have for health insurance? I’m guessing it is employer provided? (me, no, don’t have that benefit).
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<p>Our health insurance, which was very good to begin with, got better with h’s retirement because he fell under the “old retirement plan” that has the super plan. Since H takes several meds for thyroid and other minor issues, his Rx coverage is now better as well. </p>
<p>I am soooo glad that H didn’t change jobs during the last 30 years. he did change jobs in the early 80s, but not since then. H is 59, and I am 55.</p>
<p>however, we really are just semi-retired since we have rentals to manage. we are remodeling one of them, so that keeps us busy. </p>
<p>the hardest thing about not going to real jobs?..we sometimes forget what day it is. last week, we thought it was Friday, but it was Saturday. yikes.</p>
<p>I thought today was Sunday when I first woke up!</p>
<p>There are more and more people around me who admit just like me that they have no plans to retire because job is providing a major source of entertainment and retirement is boring. I will not retire unless we buy a second house. Then I may retire at 70 depending on the location of the second house. Still not looking forward, I will definitely be very bored, despite of several hobbies. I do not like most activities that occupy many others. I do not like to use any of the social media, be in front of computer (8 hours is plenty when it is actually fun at work), do not like reading, TV, going out, to the movies, shopping, cleanning, cooking, gardenning, pets, none of it is my cup of tea. In addtion, I sleep only 3 - 5 hours, so what I am going to do in the rest of the day, how I am going to fill my 20 hours? With the activities that I do not enjoy instead of being completely satisfied and totally entertained? Does not sound right. One thing I enjoy is exercise. But doing it longer than 2 - 3 hrs that I am already doing on a daily basis will be also boring. </p>
<p>^^^Travel? Although if you don’t like “going out,” maybe travel would be boring for you. </p>
<p>I’ve been “retired” for several years, and have yet to be bored. But then, I enjoy most of the activities on your list - except cleaning. You mentioned not knowing what “stress” feels like in another thread. I’m wondering what "bored’ feels like. </p>
<p>I’m looking forward to the day my Dh retires in three to five years so that we can travel together.</p>
<p>Very thought provoking thread. We’ve been thinking about this for a while - no perfect answers. Currently no loans - house and cars all paid long ago. D is a senior in college - we have enough saved to pay for her senior year and she should graduate with a healthy bank balance and no loans. S is a rising junior in high school - we have money in the 529 for him - unsure if it will be sufficient. But we have other accounts we can tap - goal is to have both kids graduate with no loans.</p>
<p>We put away the max we can for retirement. Have been doing so for years and are in pretty decent shape. We’d like to move elsewhere - somewhere warmer for retirement. But all our friends are here - our social circle is here. What would we do elsewhere? We’ve looked in several places (florida and austin primarily) but haven’t been able to finalize anything. We’d love to retire to the same place with a couple of our close friends, but unfortunately, I don’t believe they are as comfortable with the finances as we are - so unsure if we can buy retirement condos/houses close by.</p>
<p>We are thinking we can’t retire for at least ten more years. It will be six years for S to finish high school and then college. Giving ourselves a few years after that. We both love to travel and have already done a fair amount - would love to do more when we are still able. Ten years from now would put H in his early sixties and me in the late fifties - would be a good time if we can swing it!</p>
<p>Absolutely no idea on how much money we would need to have saved by then - all I know is that we are doing the best we can at the moment!</p>
<p>“Travel? Although if you don’t like “going out,” maybe travel would be boring for you.”
-Do not like to travel either, forgot to add this one. I am very closely familiar with very different cultures, nothing new. Going to Europe would not be so exciting to me as to visit my local museum - I like this, but how many times a months one can visit museum? Art connection is important and it is one of my hobbies (also on a daily basis).</p>
<p>How about the casino. Plenty of retirees spend a lot of time there. </p>
<p>…anyway, saving money is not the best at all…they are working hard on making your money a paper. One reason why we are looking to buying the second house (and maybe another later). Thank goodness, we have spent good chunk of our money paying for D’s Medical School. </p>
<p>If retirement is boring, you are not doing it right! :)</p>
<p>You could get insurance before that was not coupled to your employer. All the ‘exchanges’ do is get the government involved. Ask a vet how well that works out for them, especially those in Arizona. eek.</p>
<p>The way we saved money was not by being rich, it was by being frugal. We keep the house warm in the summer and cool in the winter. We forgo many of the fun expenditures. We also have no problem with moving to live somewhere that is more appropriate for retirement. No need to live near the jobs. We can have a house that suits us in our retirement rather than a house that works best for a family of 6. </p>
<p>@Fallgirl - I agree. One thing I don’t understand about my own parents’ retirement is the number of hours they are committed to someone else’s schedule. I think one of the things I look most forward to in retirement is being able to wake up most days and decide what I want to do and just do it. I love to volunteer, but it will be for those things that I can drop in and help, not something that I need to be at a date and time on some regular basis.</p>
<p>My last day at work will be July 3. I will be 71. My wife went out in April. We will be triple dippers: federal civil service; social security; and, state pensions. We have over 1 mil in savings and investments. We sold our Chicago in-town at a nice profit and will close at the end of June. We will put our Madison place up for sale after we come back from two weeks in Aruba. In retirement I intend to go to the beach; ride a bike; volunteer; read; sleep; watch TV; travel; eat out a lot; and work out. I will avoid the front section of the newspaper and all TV news shows. I will not discuss politics. I will enjoy the remainder of time I have. </p>
<p>congrats, tsdad!</p>
<p>Helped D2 and her boyfriend move into a new apartment yesterday and it was a disaster on many levels. It got me thinking about how retirement/the end of life is a lot like packing up and moving. Everything starts out slow and orderly but the closer you get to the end the more frantic, chaotic and overwhelming it becomes! Very few people have enough boxes. There is not enough de-crapping beforehand. All of that costs you more money as the movers have to deal with it. </p>
<p>That’s all. Our retirement saving is pretty good (my intuitive feeling - not worth much) but I plan on making sure, and then making sure again, before the flow is capped. Getting rid of “stuff” should be done sooner rather than later. This will be much easier to do while I can still bend, lift and stretch! And also think! I will also wish for good luck and good health for myself, H, the kids and future grandkids or else all plans will have to change. </p>
<p>Few questions -
(1) When you quote the amount of money needed/saved, are you counting the house/cars etc or just retirement funds, investments, bank accounts and the like?
(2) I’ve seen various numbers on the thread - 60-70%, 85%. Percentage of what? Is this the percentage of your annual income that you will need in the retirement years? Or percentage of your annual expenses? And when we are talking income, are we talking of income of both you and your spouse(for those who are not single)?</p>
<p>Some really good advice on saving/investing for retirement and deaccumulating in retirement from other people is available on <a href=“http://www.bogleheads.org”>http://www.bogleheads.org</a>. </p>