At What Age Do You Plan To Retire?

Discussion in Retirement Plans started by gracer • Aug 3, 2016.

  1. gracer

    gracerActive Member

    Joined:
    Jan 10, 2016
    Threads:
    87
    Messages:
    459
    Likes Received:
    170
    Hi guys! :)

    I'm asking this because I see some people who are already past their retirement age but they still choose to work because they say they don't have any money set aside for their retirement. Although I also see some who retire even before their recommended retirement age because they have already set aside enough money for their retirement.

    My dad is already past his retirement age but he still chooses to work part time because he says he's not yet contented with the money he has earned.

    How about you, how many years from now do you plan to retire and do you think you have set aside enough money for your needs when you do?
     
  2. AgentD22

    AgentD22New Member

    Joined:
    Jun 28, 2016
    Threads:
    5
    Messages:
    21
    Likes Received:
    9
    Hello, gracer!

    Your dad's a trooper, salute him for me would ya?

    As for myself, I'd say somewhere between 50 and 60 sounds about right. I can't imagine working on my 60's so it's probably likely to say it'll be sooner rather than later. But I wouldn't do it before 50 even if I have the money.

    I just hope, as you say, to have enough money on my retirment fund to cover my needs. One thing I don't want is to be a burden for my family.
     
  3. gracer

    gracerActive Member

    Joined:
    Jan 10, 2016
    Threads:
    87
    Messages:
    459
    Likes Received:
    170
    I sure will @AgentD22@AgentD22. Thank you for that compliment on my dad. :) Anyway, I totally agree with you, I wouldn't want to become a burden to my family especially to my children when I already get too old to work. The last thing I want is for my children to feel stressed thinking about my welfare when they have their own lives to think of by the time I reach my retirement years.
     
  4. Vinaya

    VinayaActive Member

    Joined:
    Jun 22, 2016
    Threads:
    20
    Messages:
    401
    Likes Received:
    64
    Perhaps, I will never retire. I am a writer and I will continue to write until death engulfs me. Even if my hands are unable to type, or I lose my eye sights, I will be using voice to text program or a recorder to write. Like many writers, I will be writing until I die.
     
  5. cluckeyo

    cluckeyoActive Member

    Joined:
    May 18, 2016
    Threads:
    54
    Messages:
    283
    Likes Received:
    111
    Well, I suppose I am technically retired at the age of 55, but I'm not sure I will ever quit trying to hit a home run in the business world. It is a fun hobby, so I really have nothing to lose. I need something to do, I don't just want to sit around and watch soap operas!
     
  6. davos

    davosActive Member

    Joined:
    May 10, 2016
    Threads:
    15
    Messages:
    364
    Likes Received:
    46
    Probably never, I admire a teacher of mine which is around his 70 and is still working on his career field, I plan to follow his path or at least do something related on the field. I will not worry for money saving, but that doesn't mean I'm not going to save some cash for prime years.
     
  7. Krissttina Isobe

    Krissttina IsobeWell-Known Member

    Joined:
    Aug 23, 2015
    Threads:
    18
    Messages:
    1,788
    Likes Received:
    506
    Everyone is different circumstances and should go accordingly. Just check with your social security dept. or online when you do retire and get your benefits check done. Good to ask what's involved when you do retire or decide to get social security benefits and when to apply for it. It's up to the person when they'd like to retire or if they'd want to retire. Most people like your Dad need the money for COLA is high everywhere.
     
  8. Denis Hard

    Denis HardWell-Known Member

    Joined:
    Sep 22, 2013
    Threads:
    991
    Messages:
    4,335
    Likes Received:
    790
    I plan to retire as soon as my investments start making me enough money to live on. That could be in less tha 10 years but that doesn't mean I'll stop working. Once I retire I'll have time to do things that I actually like. Things I've always wanted to do but couldn't because I didn't have enough time for them. This should be the only reason people choose to retire early.
     
  9. ReadmeByAmy

    ReadmeByAmyMember

    Joined:
    Jul 12, 2016
    Threads:
    4
    Messages:
    26
    Likes Received:
    5
    I am glad that me and my husband had the same thinking when it comes to our retirement plan in the future. While we are still capable of working we are both working hard to save money aside from the retirement and pension that we can get when we reach that age. And one thing we also want to grow old gracefully that is why we are also taking care of our health now. Like what they had said we do not want also to be a burden to our family when we retire and what we want is that we are the one who can still help them even we are already old. I think that even we are already past 60 and we are still capable to work why not? And one thing when we grow old it is important that we are still active both physically and mentally.
     
  10. gracer

    gracerActive Member

    Joined:
    Jan 10, 2016
    Threads:
    87
    Messages:
    459
    Likes Received:
    170
    I've noticed that the trend nowadays is that even people who are already at the age of retirement don't really want to spend the rest of their years doing nothing that's why they would always try to find something they could do while at the same time earning a little bit from them. Even the younger ones who haven't reached retirement yet like us also have the thought of not wanting to become stagnant when we grow old.

    I guess the important thing is to work hard while we can and when we reach our retirement, we can somehow relax but still be able to do something we love while earning a little bit of money on the side. :)
     
  11. xTinx

    xTinxWell-Known Member

    Joined:
    Sep 30, 2014
    Threads:
    8
    Messages:
    1,793
    Likes Received:
    191
    I don't really want to sound like a lazy bum but truth is, I don't want to be working for someone else for the rest of my life. If possible, I want to retire as early as 35 and, at most, not later than 45. My reason? I just want to work at my own terms and at a pace I'm comfortable with. I may not retire as a self-employed person (I can take up gigs here and there, depending on my mood) but I sure am going to retire from 8 to 9 hours of routine employment at an establishment owned by other people. Our lives are too short to not be lived the way we want to. :D
     
  12. Corzhens

    CorzhensWell-Known Member

    Joined:
    May 27, 2015
    Threads:
    151
    Messages:
    1,855
    Likes Received:
    459
    To be honest, I don't want to retire because I can't imagine myself staying at home all day and not earning anything. Retirement is a sad fact of a career person's life because that stops him from earning. It is like stopping you from learning. In 7 years, I would be retiring from my daytime job and I really don't know what will happen next. But for sure, I wouldn't be able to find another employment unless i go to the US where there is no age limit to employment. 60 years old is still a young age to be retired.
     
  13. Onionman

    OnionmanActive Member

    Joined:
    Nov 10, 2014
    Threads:
    13
    Messages:
    443
    Likes Received:
    44
    I don't intend to retire unless I have to, I don't think. Notwithstanding the fact that financially I can't see myself being able to retire at the 'traditional' age, I really can't imagine simply having all this time to fill the rest of my life. It was strange enough having all that extra time when I left my job. I think I need to remain economically productive in some way to feel fulfilled.
     
  14. gracer

    gracerActive Member

    Joined:
    Jan 10, 2016
    Threads:
    87
    Messages:
    459
    Likes Received:
    170
    This is exactly how I see myself upon the age of retirement too. Actually, I have given up working on day jobs and am now working as a self-employed work-at-home mom. The income is not as big as my previous regular jobs but I'm quiet happy with what I'm doing right now because I get to earn money while I do what I love most, and that is fulfilling my job as a mother to my child. :)
     
  15. venusflytrap

    venusflytrapMember

    Joined:
    Mar 10, 2016
    Threads:
    5
    Messages:
    61
    Likes Received:
    16
    I associate retirement with slowly turning into a yawning zombie. I have seen plenty of them on my trips around the world. They either stay in resorts, if they can afford them, take long ship cruises, or they park their caravans in tourist parks where they often take up permanent residence, doing nothing all day but eating, sleeping and lots of yawning. Some of them like to play cards or listen to the radio, and every evening at 5 pm the TV is switched on for the news. Then it's switched off again at 10:30 pm.
    I will never stop doing what I am passionate about until the day I die.
     
  16. Binu

    BinuActive Member

    Joined:
    Oct 4, 2016
    Threads:
    14
    Messages:
    200
    Likes Received:
    34
    I am a teacher and I will be teaching until my body gives up that will be around 60 years of age.I think I can work until I am 60. Before I reach that age,I plan to save money, invest on various income generating programs and reap the benefits in the old age.
     
  17. Jamille

    JamilleActive Member

    Joined:
    Oct 6, 2016
    Threads:
    11
    Messages:
    727
    Likes Received:
    111
    I've been saving and investing money for retirement, but honestly, I can't see myself retiring. If you're in a job or business that you really like, it won't feel like work. Work is an important part of my life and I'll actually be lost if I suddenly stop working. That's why it's important to have work-life balance. I used to stress myself in my past jobs by working overtime, sometimes overnight, and making the impossible a reality until I ended being burned out. I have since learned to give myself the benefit of leisure.
     
  18. tonyb

    tonybActive Member

    Joined:
    Oct 3, 2016
    Threads:
    36
    Messages:
    901
    Likes Received:
    152
    It depends on the individual, some people are strong to continue working even after attaining the retirement age. There are some professions that the practitioners enjoy doing even at old age and are respected for their years of experience as they keep working, such as seen in Medical Practice. On the other hand some keep working even at supposed retirement age simply because they never saved or invested enough for retirement.
     
  19. efrain silva

    efrain silvaMember

    Joined:
    Dec 9, 2016
    Threads:
    13
    Messages:
    91
    Likes Received:
    12
    I plan to never retire in my lifetime, and so do my parents! They are both almost 70 years old and have worked full time jobs for the great majority of their lives! Retirement can make people get very bored and idle, doing more harm in the long run. The secret to life and happiness lies within staying active on a regular daily basis.
     
  20. ptahm22

    ptahm22Active Member

    Joined:
    Dec 8, 2016
    Threads:
    29
    Messages:
    168
    Likes Received:
    17
    The retirement age in our country is 65 and that's when I would love to retire. If allowed to extend I would. I have enough money saved but I think the transition from working to staying at home is what scares me.
     
Loading...
Similar Threads - Plan RetireForumDate
Can't afford to retire?Retirement PlansOct 10, 2014
What are some ways I can plan for retirement?Retirement PlansOct 29, 2013
Will you retire early or later in life?Retirement PlansJun 7, 2013
Buying Real Estate with your Retirement Plan or Self-Directed IRARetirement PlansJun 30, 2012
What if Your Job Offers No Retirement PlanRetirement PlansJun 26, 2012