Do you think you’ll be ready to retire in the next 15 to 20 years?
Posted by AdDapper4220@reddit | Xennials | View on Reddit | 433 comments
Posted by AdDapper4220@reddit | Xennials | View on Reddit | 433 comments
Jewbacca522@reddit
Y’all are actually retiring? Must be nice.
Loud-Chicken6046@reddit
Retired 2 years ago.
JazzlikeAd1555@reddit
I’m ready now, but I can’t afford it lol
greenroom628@reddit
After the last kid finished college, wife and I are seriously considering moving to SE Asia or Japan to retire.
JazzlikeAd1555@reddit
Bruh, hear me out….i live in France and it’s amazing. Been living here since September and it’s the best decision I ever made. Health care without the public insurance is less than the copay for American healthcare.
allgood1srtaken@reddit
This is what I’d like to do. Went to France a couple years ago (Toulouse and near Narbonne) and fell in love. Going to Paris and strasbourg in a few months to get a better sense of the country. Can you elaborate on your process, do you have dual citizenship etc? Happy to take it to DMs if you prefer.
drainbamage1011@reddit
I'm curious as well. I don't know French but I'm keeping my options open considering gestures around broadly.
PNWoutdoors@reddit
I'm happily unemployed right now and trying to stay that way as long as possible. It's a beautiful taste of freedom I'm not sure I'll ever get again until I retire - I am in a position to retire, but unsure at what age. Ideally, I'll get to take 6-12 months off every five years of working from here to retirement if I play my cards right and society doesn't crumble.
SD_MTB_CHX@reddit
So true. The way things are going, will likely work until I die. So 20 years?
rober89@reddit
I was ready at 14.
SilverAsparagus2985@reddit
My first paycheck at 16 and I saw how much in taxes came out and I was like I have to do this for the rest of my life??
Truth_Seeker963@reddit
I feel seen.
DragonsGape@reddit
I was ready after watching Office Space for the first time.
jaqattack02@reddit
Same. Probably won't be able to then either.
LMurch13@reddit
This right here, brotherrrrr.
elsie78@reddit
Ready, yes. Able, no.
elonmusktheturd22@reddit
Functionality retired now
Im a hermit that lives in a shack in the woods and don't do jack shit all day
roysterino@reddit
Peter ?
elonmusktheturd22@reddit
I assume your referring to peterexplainthejoke sub, and that you assume this is a joke. It is not.
I live in a very rural area, got land very cheap (cheap because there is no power available, no cell signal until a few years ago, and was just a dirt road until 2019). I built a cabin from whatever was available and just kinda do whatever. I have no bills to pay.
Fickle_Wrangler_7439@reddit
How do you afford food? What do you do with your trash?
Are you like... subsistence farming? Isn't that a ton of work?
elonmusktheturd22@reddit
Haven't taken trash out in a year, going to do it soon, the can in the kitchen is almost full.
If the weather is as sunny as its forecasted ill be planting my turnips by the end of the week.
switchquest@reddit
Except redditing?
elonmusktheturd22@reddit
Thats basically nothing
macroeconprod@reddit
I am still saving for that van down by the river Matt Foley bragged about.
Excellent-Source-348@reddit
Trade your rent/mortgage for van payment; $1000 per month gets you a new mercedes van; $800 gets you a new ford transit. You can also rent out your house so someone pays for your house for you.
Patrizio_Argento@reddit
If Matt Foley only would have known that there are several utubers living in vans, sometimes parked near rivers earning their living expenses just vlogging about living in a van down by the river!
Terriblarious@reddit
Matt foley was just too ahead of his time.
ouijahead@reddit
And ahead of his foot steps. Fell down on tables a lot.
Smokeythemagickamodo@reddit
Honestly. I’d grow my own weed and chill.
ArticleCrafty1884@reddit
yep, already retired
Hntrbdnshog@reddit
I’m also already retired. I was a workaholic for 26 years, got seriously ill and now I live off my savings and long term disability.
the_one_jt@reddit
I am a workaholic and after a recent layoff I am absolutely beside myself. I did get a new high intensity job but man I really don't know if I can do it.
What's the minimum I can have to retire in a van down by the river?
Hntrbdnshog@reddit
Depends on the van I think. There’s a range of options.
circusgeek@reddit
I'd like to subscribe to your newsletter.
seamonkey420@reddit
hell yea!! i do the same but in a condo in the city. hehe..
ouijahead@reddit
I’m jealous
LMurch13@reddit
This is the dream.
mackattacknj83@reddit
Sounds great
happyhardonharry806@reddit
Like most all-remote workers...
shoejunk@reddit
Hopefully in 20 years if all goes well.
Dh2007@reddit
I hope so
Fickle_Wrangler_7439@reddit
Nope. I have a career with a pension and 401k. I have a Roth.
It's just not going to be enough.
sugarcrumpet@reddit
Mentally I’m there hah. Financially? Yep, if all goes to plan I’m looking to soft retire in ten years and fully in fifteen.
Cutthechitchata-hole@reddit
Im done. I have 0 savings but i just dont want to go to work any more.
johngalt504@reddit
Hoping in about 10 years.
Key-Experience-7961@reddit
I'm done the day we get universal healthcare or I hit retirement age, whichever comes first
I have very low expectation of ever seeing either option.
Ippus_21@reddit
I'm cautiously optimistic.
I'll hit pension eligibility in 14.
IF nothing goes too far sideways, like an economic depression tanking my 401k or job loss or catastrophic illness, and I can keep contributing steadily for the next decade and a half... then I should have enough to live on for the remaining 20 or 30 years, yeah.
Not gonna be rich or buy a house in the Keys and sail my megayacht around all day... but I can reasonably expect to live in my current house and handle living expenses and whatnot until age catches up with me for real.
MadameTree@reddit
Considering they recommend close to 2 million to retire, I don’t think many of us will be. I’m divorced from a loser and not likely to get remarried. If it wasn’t for what my parents left me only recently, I would not be projected to have 1.5 when I’m 67 and “ready” to retire. I’d love to quit before then but more likely I’ll be downsized in my 50s and struggling to piece together part time jobs and healthcare.
Think about how much less money buys now than when we were young, and how many people who were solidly middle class aren’t. It’s not likely to get better.
weezeloner@reddit
They are no longer in the middle class because they jumped up to the Upper Middle Class. The Upper Middle Class is now the largest income group in the U.S., surpassing the Core Middle Class.
https://www.cbsnews.com/news/upper-middle-class-income-us-what-it-takes/
DinnerSilver@reddit
It depends on if the country keeps going on tbe path of economic ruin.
weezeloner@reddit
Economic ruin?! Sure on a microeconomic level there are some people that are having it tough. But on a macro level the economy is still doing ok. Pretty good in fact.
Personally I'm surprised by that. I thought tariffs would slow things down. Or this war would crash the market (its had dips but recently rallied). Unemployment is still low.
There are still people struggling so of course things can get better but they are not indicative of the entire economy.
EmmalouEsq@reddit
I'm beginning a new business venture and if it succeeds I can build a house this summer and maybe partially retire in a year or 2.
Dear-Purpose6129@reddit
No
ArrivalOnly8239@reddit
Pivoting careers and plan on living like a monk for the next 10 and retire as an expat somewhere
demonbadger@reddit
My retirement plan is societal collapse
Next-Honeydew4130@reddit
Honestly the confidence that people have that fifteen years from now they’re going to be able to retire because they have a great 401k or IRA blows my mind. Like … sorry have you looked around you? This isn’t going well.
weezeloner@reddit
I mean to be honest, if they are looking at their 401Ks and IRAs and they invested wisely, like an S&P 500 Index fund, then that might be why they are so confident.
If you have been investing for the last 10, 20, 30 years you should be doing splendidly. And looking around, I don't see how any of that is going to change.
wetbulbsarecoming@reddit
People do not pay attention to climate change enough. Like 2050 is not looking likely. That's why I laugh when financial advisors keep plugging maxing out 401k. Motherfucker, with tipping points the temp about to be 401 k.
Sea_Formal_3360@reddit
Could societal collapse happen? Sure. Is it possible it doesn’t? Sure. There’s nothing I can do about the first, but there sure is on the second.
I am sure as hell am glad I won’t be in a situation where I’ll be hoping collapse happens in 10 years because I didn’t plan for retirement.
viridiansoul@reddit
Ayep, which frankly looks like it could be any time now.
Broad_Food9658@reddit
Ready now. Started civil service position at 24 I’m eligible to retire as of last year with a pension. College wasn’t for me I just wanted to work.
Ok_Individual960@reddit
I started my civil service job@24 also, armed with my Accounting degree. Worked my way up and currently making pretty good money. I'm eligible for my pension now. Pension is roughly double my spend rate, healthcare plan follows with the pension so that's not an issue. Took some grinding but looks like that's paying off.
weezeloner@reddit
I also work for the government with an accounting degree. I have a finance degree as well. I graduated in 2007 and had to decide whether to go into accounting or finance. I'm glad I chose to go the government accounting route.
I doubt I would have been employed after 2008 if I had chosen the finance route.
Phyzzx@reddit
Same but I started at 19 with a city job where I knew pension started at 23yrs of service.
EcstaticPlankton8621@reddit
I think Gen Z is finally coming around to this. When I was in school no one pushed union trades or civil jobs like working for the water department, road department, wastewater plant, etc.
wmubronco03@reddit
I got my degree while working for a DPW in the summers. I graduated and went full time in the water department. My degree is in international politics! Best decision I ever made. College was fun and I’m glad I went but I’m not meant for that life.
Gullible_Rich_7156@reddit
I managed utilities on the public side for about 20 years and recently moved over to do business development/government relations on the private side and loving it. I was just at my daughter’s HS career fair last week representing my company and talking to sophomores and juniors about everything from our STEM and legal related positions for college track students to licensed water/wastewater operator positions for direct to workforce students. They’re great jobs with great benefits and long term stability, we send you to school for the licenses and as you know, they’re in high demand and pretty much AI proof!
weezeloner@reddit
I'll be able to retire in 12 years. And collect 75% of my salary for the rest of my life. I'm making a little over $120K now, so I'll get at least $90,000 a year. Hopefully my income increases a little more in the next 12 years.
My wife has the same retirement but as a teacher she doesn't earn as much as I do. But together we'll be alright. Especially since I'm working on getting the mortgage paid before we retire.
Allureme@reddit
I’ll be ready but will I be able is another question
machacker89@reddit
No. My financial situation what allow me to. Like my grandfather before me I will work until the day I die
RockShowSparky@reddit
I don’t think I really want to but I guess that could change
LKayRB@reddit
I’m ready to retire now, mentally anyway. Financially I’ll never be able to retire.
audiate@reddit
Nope. We make 250k a year, but had to do IVF to have a child. We’re renting and paying off debt in our mid 40s.
Ronthelodger@reddit
It depends on how the economy rolls out… going in a bad direction now(inflation and cost of living are sky high). At least the billionaires and corporations are doing well… which we all know is the most important thing.
idio242@reddit
Sooner than that!
Living-Video-3670@reddit
Im right at the 20 year mark. If all goes well, I'll be able to retire with my pension at 62.
jtmann05@reddit
I was kind of obsessed with saving and making money as a kid. Walked door to door asking to mow lawns or shovel driveways, collected cans to take back (10 cent deposit in Michigan), bought and flipped beanie babies, haha. Begged my mom to open a bank account for me and started an IRA when I was 18. I could probably retire now if I lived in a low cost of living area, but I’m a dumbass and choose to live in Seattle where everything is a billion dollars.
fannyalgerpack@reddit
Trying to do some variation of r/fire so hopefully in 10 years when I’m 55
Cernly@reddit
I keep telling myself 7 more years but I fuckin hate working so we will see
switchquest@reddit
Well, where I live (Belgium) my current retirement date is set in 2044.
I have a pensionplan with my employer. (Our socalled 3rd pillar) It's comparable to a 401k I guess, but less flexible) And I have a personal private plan that's tax deductable. (3rd pillar)
With my current pay I'm over the maximum eligible for contribution towards the social security pension that everyone contributes to. (Our socalled 1st pillar)
I'll also fully own my home by then, and home ownership is relatively lightly taxed. (Unofficial 4th pillar)
I guess it could be better, but I'm not the worst off?
However. The future of our social security pension is very much in doubt. Because the boomers forgot to make children of their own and also 'forgot' to reform the pension system which was based on the babyboom: lot's of young people pay the pension of a few retired people. Now there are fewer and fewer young people who have to pay for a lot of boomers but those younger people will probably never get to retire the same way...
TheyCallMeSuperChunk@reddit
Lol my wife is pregnant. I have at least 22 years until I'm out of college obligations for the last kid. I'll be 67.
d5dq@reddit
Yes. I’m hoping to maybe retire in 5-10 years actually. I love well below my means and have managed to save 50% or more of my salary. My parents are living overseas in a country with an affordable cost of living and universal healthcare. Hoping to join them soon.
InfidelZombie@reddit
Same, right down to the international retirement (as soon as my German passport arrives).
EatPizzaWitPineapple@reddit
Ditto. No kids, lots of savings. We’re aiming to be retired overseas at 50.
Specific_Pilot_328@reddit
Same I’m 46 single no kids Italian citizenship looking to retire to Italy at 55. Save all I can, net worth at 1 million portfolio just $680k but hope to have doubled it by age 55. I’m looking at Susa west of Turin, have you research any places yet?
EatPizzaWitPineapple@reddit
Probably Marche or Umbria if we want to go rural. Turin or Bologna if we go urban. Rural would obviously be a lot cheaper, even with a car. Been to a lot of the big cities but still need to get a better feel for the smaller towns before we finalize. We’ll hop around doing sone extended stay rentals before finalizing.
Specific_Pilot_328@reddit
Susa is on the rail line to Turin only an hour away, so no car needed. Real estate is pretty cheap there. But not 7% flat tax area so that’s the downside.
GrizzlyAdam12@reddit
Do you have some locations in mind?
EatPizzaWitPineapple@reddit
I have Italian citizenship so that’s the plan.
captain_flak@reddit
I have Italian citizenship too. Just make sure you do the research on taxes.
SheaBuf97@reddit
Same. We have always lived below our means (while still enjoying ourselves), no kids, contribute the max to 403b. We hope to be done at 55. The countdown is on.
Infinityandbeyond198@reddit
Which country ?
captain_flak@reddit
Retiring on 50% of your salary? Do you mean you have enough to generate cash flow of 50% of your salary?
No-Hospital559@reddit
I took it to mean, they are saving half their yearly income.
che_vos@reddit
Yes, financially possible in 8 years, but my two youngest still have 10 years to graduate high school. So plan to work a little more just to get them through college.
I started saving aggressively into my 401k back in 2007. Thank you Dave Ramsey. I read his book back in grad school. I've never made a lot of money, but we have avoided lifestyle creep, budgeted, wife home with kids, one income, etc. I will be retired early.
Sea_Formal_3360@reddit
So worst case scenario I die early and my wife and kids benefit from my savings? I’m completely fine with that. They come before me anyway now, so why not later in life or in death?
Geechie-Don@reddit
Already retired.
Sunshineal@reddit
Nope. I'm plan on working until age 70 plus. God willing
meizhong@reddit
I worked as a truck driver since about 2008. Saved money and bought my own truck this year. So, now I have to work hard and pay the house off, then work hard to save up some money to buy another truck before this one hits a million miles (in like 7 years), then run the new truck to save money to open a small restaurant or something before that truck hits a million miles. I really don't want to buy another truck after than. I'll be about 60 by then. I hope I can just make a couple Gs a month making gumbo in a little restaurant until I die. I don't want to sit at home. Ever.
If none of this works out, I'm selling the house and buying a sailboat. Whatever I can get without having payments. Then I'll just sail until I die of some medical event in the middle of the ocean. But either plan, I'll die happy.
cozycorner@reddit
Can retire in 2028 at 51 and have health insurance until Medicare, BUT wouldn’t be able to get my retirement without penalty for another 8 years…:
Wise-Activity-4203@reddit
World's ending in 2030. Good luck retiring with no drinkable water. 🤯
Glendale0839@reddit
I plan on leaving my full time corporate job and shifting to part time hobby-related work around 50-55.
GotWood2024@reddit
What are you doing for health care?
Glendale0839@reddit
When I quit my corporate job, going on my wife's employer's plan while she is still working full-time. Then when she stops working, mainly living off funds in taxable accounts that don't generate capital gains (bank CD's, etc.) to keep income low enough on paper to qualify for the highest ACA plan subsidies until I am old enough for medicare. I don't plan on withdrawing 401k/Traditional IRA funds until I'm on medicare.
eatsleepdive@reddit
I've been considering taking out original contributions from my Roth. I'd probably lose about 100k by doing so vs keeping it in there for another ten years but if it means retiring early I'm all for it.
GotWood2024@reddit
Nice. I think I can max out my HSA to cover healthcare if I want to retire early. Good luck!
Next-Honeydew4130@reddit
This. My retirement plan is a fun job!
5pens@reddit
Yep. Should be eligible for state pension at 56. Hopefully i can afford it!
cappnplanet@reddit
Mega backdoor Roth for the win
ComebackShane@reddit
I have a feeling I won’t be able to fully ‘retire’ but I’m hoping when I get it comfy late 60s a combination of 401k (that I stared way too late) and social security will allow me to eventually move from my career into a part-time job that will make up the shortfall.
lavasca@reddit
r/Fire
I watched the Golden Girls with my Grandma. I remember the episode when Rose found out about Charlie’s pension bustout. It was terrifying because that is also when I learned more about the premise.
They weren’t just a group of friends who decided to live togetjer. They all needed more money than they had to live comfortably. That’s why they lived together. This meant Rose couldn’t even do that.
Rose had to try to gind additional jobs or work full time when she was supposed to be having fun like grandmas are supposed to. (My grandma was a lot more like Blanche.) I was so upset. I didn’t want to wind up like Rose, or any of them, really.
I’m just about ready to pack it in now. I want to accomplish a couple other things. My husband says he doesn’t plan to ever retire. I do plan for his retirement anyway.
FoppyRETURNS@reddit
Yes. 22 percent in a 457 and 32 years of service at retirement time. Get in a Union or get to unionizing.
Tancred81@reddit
If literally EVERYTHING goes according to plan, then I would be ready, but probably wouldn’t do it. If any little thing goes wrong, then nope.
1101base2@reddit
Mentally yes, financially no...
hatfarm@reddit
Stevesd123@reddit
In 20 yeah. Between my pension, social security and VA disability I will be fine.
underwearfanatic@reddit
Market will not allow any of us to retire.
TheAskewOne@reddit
No, my only hope is social security or working till I drop dead.
jediphoenix1976@reddit
In 12 years, I'll be eligible to retire under state law (state job) at age 62, and I'm sure I'll be wanting to at that point. Whether or not I'll be able to depends on how much the pension will be.
ConflagWex@reddit
20 years probably. But I have saved more than the average so if I'm barely ready to retire when I'm in my mid 60s that doesn't bode well for others that haven't been able to save.
OtherlandGirl@reddit
Yep, just hoping the shit doesn’t hit the fan before then
DarkAngela12@reddit
Probably? But I think the robots will kill us all by then, lol.
jbt55@reddit
Shooting for 12-15.
TinyRedGuy@reddit
I decided to follow my dreams into an artistic career. I will never be able to retire
ThePerfectSnare@reddit
You know that Neil Young song where he says it's better to burn out than to fade away? In my 20's, that seemed like a brilliant plan.
jbt55@reddit
Have you started smoldering yet?
TinyRedGuy@reddit
The snag there is you need to be a prolific and well loved artist for burning out to be worth it, alas…
MaryMalade@reddit
Same but with writing
captain_flak@reddit
Cool! What do you write?
MaryMalade@reddit
poetry, and short fiction, but I’m currently blocked (creatively, and parenthoodly)!
SpoonFullOfSugar1111@reddit
Writing is an artistic career
valdocs_user@reddit
I hope to retire in 15 to 20 years to follow my artistic career dreams.
RandomRageNet@reddit
Same but I was forced into it from being laid off and not finding anything else
Verbull710@reddit
But then again you're not really working if you love what you're doing and creating art
That's what retired people do
TinyRedGuy@reddit
A creative career is non stop, never ending hard work, that I love and fulfills me. But hard work nonetheless
tracingtime@reddit
Me too! (And then my industry collapsed...and this after how many times graduating while the country decided to be in a recession!?)
GotWood2024@reddit
Yep. Outlook good. Especially retiring at 67.
bowleggedgrump@reddit
Ready - yes
Financially Ready - nope
TMore108@reddit
Maybe. I have a pension and a 457 though there isn't as much in the 457 as I would like. That said I'm a firefighter so I'm forced to age out at 62 or 64. Can't remember which. But the nice part about being a firefighter is I'll probably die before I should before of cancer or heart disease I got as a result of my occupation so worrying about how I'll survive after retirement is a moot point.
Pitiful_Ad2397@reddit
Lol
SilverAsparagus2985@reddit
No. Hopefully 20 but prob more like 20-25. Offloading my kids into full fledged adulthood will be extremely helpful.
HuckleberryLogical63@reddit
No lol. Barring hitting the lottery, I fully expect to work till I die. Most of the older adults I know didn't get to retirement age, or get to enjoy it by much. Retirement is a scam, enjoy life while you can.
walter_grimsley@reddit
This is the right take. Saving fun until you’re too old to work is asinine. You’ll be too old to do much else either. Have fun now.
Nwcray@reddit
I don’t get this either-or take.
I work hard, I save money for retirement. I also enjoy my family, my friends, and my hobbies. I travel - not as much as I’d like to but more than none at all.
I have fun and prepare for the future, because I’m an adult and able to balance competing priorities.
It’s all about finding the right mix. It’s not either/or, it’s how much of each.
wetbulbsarecoming@reddit
Good for you. Some of us can't "have fun" working 70 hours a week.
Nwcray@reddit
If you’re pushing 50, working 70 hours a week, and unable to enjoy your life - that’s on you.
We’ve lived through some of the worst job markets, but also some of the best. We’ve known since we were very young that the world isn’t going to give us much of anything, we have to make our own best of things. You’ve had decades now to find the balance.
If you haven’t, that’s no one’s fault but your own.
quietsam@reddit
I don’t really look at it this way at all. It’s about working while you’re able. Being old-old and working sounds like the least fun thing ever.
doktorhladnjak@reddit
It’s not unfun. It’s just not possible at a certain point.
It’s not a plan. It’s a cope.
I’ve watched several older relatives go through this now. Most became disabled in poverty toward the end, and struggled to even have a stable housing situation.
The one who worked until the very end got “lucky” and suddenly died while refusing care for a treatable cancer. Cause of death was never ascertained because once you’re under the care of a doctor, the coroner just assumes that’s why you died. Probably heart attack even though the diagnosis was cancer.
Next-Honeydew4130@reddit
That’s how I want to go honestly. I never want to be so disabled I have to retire.
Sit_Ubu_Sit-Good_Dog@reddit
Are you twelve?
Next-Honeydew4130@reddit
This right here.
thagor5@reddit
See. I saved money but invested time with my family. So i have had a full life and will retire soon. I didn’t spend money to have fun. Maybe because i started out with so little
ogami_itto@reddit
I'll be able to retire before I'm 50. Same job for 20 years, 60K --> 250K. Honestly, the hard part is imagining what I'll do with myself and how I'll keep routine once I'm not having to get up for work.
JoeInOR@reddit
Maybe 10-12 years? Depends if I get a decent enough return. Also on where my gets want to go to school in 8/13 years.
SirBobsonDugnutt@reddit
I'm not waiting that long. 4-5 years and I'll go part time or switch to a passion job like dog sitting or a bike tour guide.
anthrax_ripple@reddit
More like 30. Maybe.
eeb96@reddit
Retirarse ? Sabes lo loco que suena eso ?
onions-make-me-cry@reddit
We have to save $2K a month into retirement for the next 20 years to have $2 million (which will be worth about $1 million in today's money). So, no, I don't think so. So far we are doing that... but anything can happen in the next 20 years to knock that off course... it's a gamble to be able to depend on 20 years of savings like that.
KdawgEdog@reddit
Hell nah, I've had the last 10years off due to illness and cashed out everything I own. Hopefully the rest of my life is relatively pain free, because I'll have to work
Far-Veterinarian6465@reddit
No because I won’t be 65 and be able to get medicare. I should (hopefully) financially be ready to retire.
BlueJayMorning@reddit
Not exactly what you mean, but I “retired” in December. Living off my 401K until it vanishes and then starting over. Don’t even care. My career was 21 years in aviation management with the last five years being the director of a department that is underfunded and entirely subservient to the weather…in a region with horrible weather. I was on call 24/7 and wasn’t even able to “turn off” once in those five years. My health declined precipitously as a result. I loved what I did, despite the chaos, and I was very good at it, but I am no longer willing to sacrifice my health to be a corporate indentured servant.
Anyway, I’m focusing on my health now, finally, and I’ll figure the rest out later. To answer your actual question and based on what I just shared, I’d expect at least another 25 years before I can consider full retirement.
wetbulbsarecoming@reddit
Fuck yes! This!!!
Just-Seaworthiness39@reddit
Probably have to if my health keeps acting up.
BoredAccountant@reddit
Yes. I have a minimum 8 years left, and a maximum of 13. Retired by 55.
SnooDrawings7662@reddit
assuming we don't have a second great depression.. and the stock market continues on its long term average... then yeah. I'm on track to retire in just under 20 years
CheetahOfDeath@reddit
A lot of the modded starts have characters with stats in the 10-20 range. Supposed to tie into previous experience from whatever background story they start with (I’m guessing).
Vash_85@reddit
Aiming for 55, but with the way things are going probably not happening until 65.
Alien_Nicole@reddit
Nope. It seems like every single important decision I have made in life was wrong and I can't seem to get it together. At least I can make the rest of you guys look good. Silver linings.
Electronic-Ride-564@reddit
This question is very broad.
At the rate things are degenerating, I'll certainly be ready to retire mentally. Financially, maybe and hopefully.
I think there are a lot of people who think they'll be prepared financially and then be surprised later on when the money doesn't go as far as they think it will. Everyone else will probably get downgraded a step too. Like the people who hope to retire at 65 may have to work into their 70s, and so on.
The people who have nothing set aside will not be able to, but that's already their current trajectory.
FooFighter828@reddit
I think a lot of people that think they are close will get surprised by how much cost of living will continue to accelerate
Electronic-Ride-564@reddit
100%
SpectrumWoes@reddit
Maybe 😕 But I’ll have to pump a large percentage of my paycheck into my 401k and an IRA. I’m only now in a position where I can do this since my kids are grown up
TSquaredRecovers@reddit
Hahaha...no
MlsterFlster@reddit
Me? Yes. My bank account? lol, no.
VinceAmonte@reddit
Hahaha nope. I’ll be working until I drop dead
BohemianRhapsoda@reddit
I can retire whenever my parent dies and I come into my inheritance. I am fully aware of the enormity of this privilege and recognize how fortunate I am. Without this money, I can retire at 65 (so, 18 more years). We weren’t able to have kids, and we live in a lcol city and are generally pretty frugal, but we do take a couple of vacations a year.
Although, I really like my job right now- easy, 100% remote, and great coworkers. So, if I’m still working in my current job, I’ll probably continue, just take more time off for travel and when needed. My husband is several years younger than me, too, so staying on would keep me busy.
likesblackcoffeebest@reddit
I reach full pension eligibility in 20 years, 5 months, 2 weeks, and 1 day. No, definitely not counting at all.
YEMolly@reddit
No. 1) I doubt I’ll ever be able to afford to retire. 2) People who retire seem to die early.
With that said, I hope to have a much less stressful job in 20 years.
jmac11281@reddit
If I were to try to retire in 20 years from now at my current situation, I think I could live off my 401k for about 10-15 years. That is all I am hoping I would need. I don't want to live too long.
Izalii@reddit
Yeah. Although I’ll probably focus my energy on my fun side hustle. I’m not the type to sit around all day.
AetheriaInBeing@reddit
Definitely maybe.
I had inconsistent work for 15 years and am only kind of sort of seeing some stability now. I *should* continue to stabilize long term. But that puts me behind on retirement. I have the benefit of being married to someone with a union pension and being in position to inherit enough to supplement what i managed to put aside for retirement myself. But any inheritance i might have is probably 30 years out given my grandmother's longevity so... retire in 15-20? Probably not. If I can work half a year by then though? I'll be content if I can do it in 30.
PlantsNCaterpillars@reddit
Yes. One way tickets on the Fentanyl Express are very affordable.
blinkertx@reddit
I work in big tech, which is quite rewarding but also very draining. I’d like to think I can grind it out until 55 then retire, but with AI and layoffs, I have no idea what’s actually going to happen. Until then, I’ll continue to try to find joy in my work, but at the mid life point I’m well aware that can change very quickly. Bottom line, I keep my plans very short term and hope for the best long term.
HomegirlNC123@reddit
Definitely
frozenlotion@reddit
Yes 💯. In 10-13 years I’m done. Shooting for 10, though. I’m over it
seymourscagnetti420@reddit
Only if my parents don’t run through all their money before they die.
Formal-Telephone5146@reddit
Retirement! must be the day I die
NoExam2412@reddit
I can in 20 years, and I think I'll be fine. So not early, but at least I can do it. I feel like a failure reading everyone on Reddit who can retire early. But, I grew up poor and didn't know how to invest. I made 35k in my first job out of college and stayed in that job for 9 years. I didn't start a real career and real savings until 35. I also had a divorce in there.
So, yeah, I'm 45 now, work a solid career, and have a good savings plan. I own my home. I'll be fine. I wish things had started differently, but there's nothing i can do about that.
Dimplefrom-YA@reddit
i can retire at 55 if i want. however, i wish to retire at 72 because im greedy. i want to enjoy 10 years of my retirement… just traveling and joining elderly group activities. then i want to die.
Repulsive_Science254@reddit
I’m waiting for my younger (2nd husband) to make a lot of money and retire me. I’ve done well for myself but he’s doing better for his age.
Author_Dent@reddit
Funniest post I’ve seen all week.
theoneandonlyturo@reddit
Heh heh heh no.
Architorture_66@reddit
I've been putting away 8-10% pre-tax since I was 24, yet every year my meeting with the financial advisor seems to start with a deep sigh as he opens up my account files.
If anything, hopefully have enough that my wife could enjoy some retirement or my kids could inherit something of a boost on theirs in the future so that they don't have to work as long or as hard as I have.
Wilberforcezen@reddit
I'm ready now. The issue is am I able to.
Tuffwith2Fs@reddit
The other day I withdrew my pension contributions from an old job and put them in an IRA. The math says there's an 80% chance I retire with 1M+ in 20 years. For the first time in my life I actually feel like I'm gonna be able to retire.
nouseforaname79@reddit
Already there, thank you US Government.
sunisublime@reddit
LOLOLOLOLOOL…..omg I’m wheezing over here….
Sad-Structure2364@reddit
Going to move to a cheaper county when I want to stop working and sell my house
BeenisHat@reddit
Nope, unless the housing market makes another huge gain. I have a pension and some retirement savings. My wife has a small pension as well. We'll probably push it as close to 70 as we can just to have extra stashed away for the kids.
Next-Honeydew4130@reddit
I have a feeling we are the first people to realize ahead of time that retirement isn’t possible anymore for 95% of us.
Next-Honeydew4130@reddit
I been ready to retire for at least the last five years. In truth will never actually retire.
casdoodle527@reddit
I’m retiring in 6 years, 3 months, 24 days….not that I’m counting
skitch23@reddit
I’m not counting either. 7 years, 11 months, 12 days.
tonyeye@reddit
Yes. I thank my mother for forcing me into the recruiter's office, just about 30 years ago.
Relevant_Wallaby_227@reddit
I’m aiming for my 50th birthday.
DinglesBerry3@reddit
When I die.
Booji-Boy@reddit
Into the dirt maybe
ThePolemicist@reddit
I'm a teacher and can retire at 62 without penalty. We can't retire mid-year, though, since we sign a contract for the full school year. Nineteen more school years for me! We hope my husband can retire in 14-15 years, though.
karmannbg@reddit
Financially, yes.
Mentally, I'm not sure. Been working since I was 14, and work is who I am (I realize that's not healthy at all).
Spent the last couple years trying to figure out who I am if I'm not working... still not sure but getting there slowly.
chesterforbes@reddit
My retirement plan is dying
Darkwaxellence@reddit
I'm working while living on my sailboat. I'm doing all the things in my life that I want right now because i could be dead tomorrow. I'll go back to my house and garden someday.
grilledstuffed@reddit
Liveaboard is our goal!
We want a cat but will probably go mono to make it happen sooner.
Fair winds
Darkwaxellence@reddit
We spent 2 years and all of our money to sail. Made it from Indiana to Florida where we live in a mooring field. Boats prices are pretty low right now, good time to get in.
Moons_of_Moons@reddit
I'm ready now, but my bank account won't be ready until I'm 417 years old.
thetrappster@reddit
Mentally, I'm ready now. Financially, hopefully in about 15 years.
ScreenTricky4257@reddit
I'm shooting for between 60 and 63, in 13-16 years.
lostdragon05@reddit
I’ve been ready for 20 years. Hopefully in 20 more I will be able.
hurdeehurr@reddit
Yes but i'm not sure enough will be enough for my wife.. we'll see. By my standards we could retire now.
itsmejpt@reddit
Hell no
statix138@reddit
Only retirement plan I have is the Smith and Wesson catalog I get in the mail.
MS_GundamWings@reddit
I'm going to die of a heart attack in 8-9 years instead.
seriouslynope@reddit
LMAO no
William_Shaftner@reddit
I think this dream is absolutely attainable and I've even referenced my approach in other threads around finances. People overthink this sort of thing all the time:
I've found using this method has been completely adequate to provide enough funds to even see my kids through college and other expenses.
59apache01@reddit
My original goal was to retire between 55 and 60. That has since shifted to 65 due to a variety of factors, which is 18 years away. We'll see.
Persis-@reddit
I’m effectively retiring in May. My husband should be ready to retire in 10 years. He’s a Xennial, too. House will be paid off in 5.
Accomplished-Run221@reddit
There is no more retirement, unless you are in a dwindling privileged minority.
nola_mike@reddit
OllieFromCairo@reddit
I have a pension, so if that and social security survive, I'll be fine.
Stubborn_Brat@reddit
No
eaglewatch1945@reddit
I should be good to retire comfortably by 60 (44 now). Otherwise, I'll keep working if my wife keeps working and the role I have at that time is enjoyable/fulfilling.
albanyanthem@reddit
God willing and if our entire economic system doesn’t collapse. It’s a big assumption but it’s all I have got to go with.
Dog_Baseball@reddit
Lol
CubesFan@reddit
I'm ready now. Not able, but ready for sure.
Lauuson@reddit
I'll be ready to retire whether I'm ready to retire or not.
r2k398@reddit
If I remain employed, definitely.
ElizRaff@reddit
I’m 60 so likely in a few years. I can afford to retire now, but I’m not quite ready to pull the plug.
AnonymousIdentityMan@reddit
In 9 years.
Tedanki@reddit
Unthinkable. Unless by some fucking miracle my wife inherits some money from my in-laws.
BuggerPie81@reddit
I'm 44. I'm going to work till I'm 55 or so. I've had too many health problems and have come to the realization that life is too short to be working for the last quarter of it. I'm also lucky enough to have had a great career and a spouse with the same.
EidolonRook@reddit
Aaaahahhahhahahahhahahsha
Hahahah… /cries.
IceManYurt@reddit
No
AshDogBucket@reddit
I don't really follow the whole career/retire path. I've already "retired" from a few different "career" fields. I just started a new career field and I generally hope I'm not in the same field for the next 20 years.
mrsjetset@reddit
We are aiming for 5.
SlackerDS5@reddit
Yes. I started late but I have a city government job as a supervisor with a pension and I’ve been putting money aside since started. I automatically put money away in investments as well.
My mom went through bankruptcy and it showed me a lot about making sure I have things lined up. Now I just have to make it to that age.
problyurdad_@reddit
Yeah so long as my and my wife’s parents die, then I’m good.
vintage82-@reddit
My mind and body will be ready but unfortunately my bank account won't be.
OhNoWTFlol@reddit
😂
Terriblarious@reddit
No. but i'm going to anyway. I'll live on oats and water in a remote place for the rest of my life if it means some peace and quiet.
Human-Ad1643@reddit
Retire as in leave my current job with a full pension? Yes in 8 years. I’ll still have to work tho but I won’t be doing this job anymore because I never invested when I was young and could afford it.
wheres_the_revolt@reddit
I’m ready to retire now, I just don’t have enough money.
Maxnllin@reddit
I’m bout to get married with the intention of having kids! I’m gonna retire at 80!
Bushid0C0wb0y81@reddit
Hahaha lmao no.
123BuleBule@reddit
48 now. I’m retiring in 10-12 years.
Keldek55@reddit
Retired from the military after 21 years, its enough to live a hermit lifestyle and if I want to go on trips or buy something mildly expensive, I just pick up some PRN shifts at the hospital.
No_Mood2658@reddit
I will be fully vested in my teacher pension by age 56...planning to run for it and then do something else like scale my side business. I'm not retiring. I just hope I can make it ten more years as a teacher... I'm fried.
PopcornSurgeon@reddit
I’m 48. I think it’s more like 20-25 years if I’m not forced out before then.
tc_cad@reddit
The plan is to retire at age 60. But we all know life doesn’t care about your plans.
blackhawksq@reddit
I am ready to retire now. Just need to win that lottery.
Assuming everything stays consistent, I'll be financially able to retire in about 10 years. I've hit coast fire. So if I don't invest anything, work a job that allows me to maintain my lifestyle, then come retirement age, I'll have enough to retire. But I don't want to just retire. I want to be a globetrotter for the first couple of years. I'm going to continue working and hope that AI doesn't end my career early. If it does, that's fine, I'll just take a no-stress job and enjoy what I can.
Alice_600@reddit
Ha! Ha! Ha! Ha! Haa! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Haa! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Haa! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Haa! Ha! Ha! Ha! Ha! Ha!
Retire? Oh My god I needed a good laugh! (Continues to laugh in poor)
burnitdwn@reddit
As somebody who was diagnosed with stage 3 colon cancer and has had surgery and is more than halfway through chemo. Cancer appears to be in remission.
If I am still alive, I will be retiring in my 50s. Have been living under my means for many years saving and investing in index funds. I won't live in a castle, but I'd be quite happy with 1200 sq feet, a nice garage, in the forest somewhere with a few acres of land.
blondeviking64@reddit
No
Impulsiveleap@reddit
I’ll be able to leave my career, thank god, but I’ll have to find something else to do (something I’d like to do on my own terms) for a while which I’m ok with. I’d like my brain to stay sharp and busy.
pennyflowerrose@reddit
Yeah, I pumped money into retirement accounts in my 20s which was good, because I barely make anything now due to a chronic illness. Also I'll inherit my spouse's pension. I sometimes joke I'm semi-retired. (I work part-time right now)
Hour_Option_5260@reddit
Never. I will probably die at my desk
heart_blossom@reddit
Nope. I don't think I'll have enough money. My plan, between now and then, is to set up a service business like bookkeeping or accountant that I can use to support myself after retirement.
JasonG784@reddit
If I stop saving for retirement now and just let it ride, assuming 7% average returns and 2.5% inflation I can 4% withdraw a real \~101k a year starting at age 58, sixteen years from now. Granted, the nominal will be about 150k at that point.
digitaltree515@reddit
Emotionally or financially?
I'm ready to retire now. My bank account is not.
NotRadTrad05@reddit
No, but 67 is a realistic projection. Married in college and wife was SAHM until the youngest of 4 started school. It put us in a hole of debt and no savings I'm just getting out of, but the benefit to the kids was absolutely worth it.
pocket-snowmen@reddit
We will be ready in 11-14 years. Been saving pretty hard and I first become eligible for my pension at 57.
apudapus@reddit
I think so. It’s hard to tell but at this rate yes. Life can throw obstacles at you and you just hope to be able to weather them.
danceswithsockson@reddit
Could I? Yes. Do I want to? I can’t picture it.
RainerGerhard@reddit
Everyone is speaking about the feasibility of retirement in financial terms, as if the current structure of society will still be here in 20 years.
As for me, I stay doing push-ups, I get young blood transfusions weekly, and I am on all steroids and peptides.
Laugh now, but in 20 years, as I am swinging a chain over my head while driving a four wheeler into your village, we will see who laughs then.
I also looksmaxx.
tictacksmuggler@reddit
Mentally yes. Financially no
Rich_Celebration477@reddit
Well…no…no not at all
Hopefully I die quickly right around the time I become too infirm to work
hangout927@reddit
Nope. My kids will be in the middle of college in fifteen years
Patrizio_Argento@reddit
I will retire in max 8 years, maybe 9. Course I have decent investments and a pension.
Asleep_Onion@reddit
I have no pension, no 401k, no real savings to speak of, no owned house, and I only just 6 months ago opened an IRA account... So it's not looking great.
t-g-l-h-@reddit
If I can keep my current level of income, I think I can quit in 11-12 years.
xHandelx@reddit
Mentally, yes, financially, no
edfoldsred@reddit
YES! I'm on a public pension and I think I can make it work in 15 years or less. Plus I have some savings and will have a small inheritance.
No kids!
dcamnc4143@reddit
Yep. 4 years exactly.
greck00@reddit
Nope ..but I'm not looking forward to retirement...I will probably die of boredom...
dadneverleft@reddit
NoGoat3930@reddit
Of course not. Get sick once and they will gut your bank account like a fish. As soon as you stop making money for the billionaires, they want you to die.
Might as well die fighting them while your still in shape, than rotting to death on a table wishing you had left the world a place where your kids weren't domesticated like cattle with keyboards.
Okay, went off a bit on a dark tangent ,,, but my point is that retirement is going to become a death sentence unless we start eating rich people. Destroying their assets is not enough, they have plenty of those. They are not afraid of the poor masses, because they can turn any half of us against the other.
GerlockADUS@reddit
Probably have to work until I’m dead.
drtyhppi@reddit
I'm ready to retire right now. Do I have the money? No. Am I sick of the bullshit? Yes.
IdioticPrototype@reddit
Quitting my job at the end of next month on a r/leanfire trajectory.
higglesworth@reddit
lol retire. Nope gonna be working until the day I die probs
oronder@reddit
Not even close. I’ll be one of those sad old dudes in their 80s attempting to bag groceries with my grnarled arthritic claws.
LauraPa1mer@reddit
I just started working, so no.
Acceptable_Class_576@reddit
Emotionally? Yes. Financially? Probably not.
daddytorgo@reddit
I'm 46 - my goal is 12 years from now. I'm on track to achieve that, if not even a bit earlier.
BhamBlazer615@reddit
Yes, 2040
Wak3upHicks@reddit
Family history suggests I'll be dead by then
Ostro@reddit
As long as the market and my 401k isn’t decimated by some catastrophic crash
kdrachael1@reddit
Depends on social security and wealthy Boomer family members passing away, unfortunately.
JeffTS@reddit
Lol, surely you jest with that question? I'm ready for retirement now but my finances say otherwise.
Sufficient_Turn_9209@reddit
We're ready to retire now. I know this sounds morbid, but the truth is we're basically only still working and staying where we are as long as my 86 year old mom needs me here.
Nellie_blythe@reddit
I'm planning on my Gen X husband retiring next year but I definitely want to work at least another 20. I really like my job and it pays pretty well. When we go down to 1 income I'll cut back my retirement contributions a bit but we have enough saved to Coastfire at this point.
alisoncarey@reddit
I got a small studio apartment. After ten years of promotions I still live there.
I also had a great job in my 20s and maxed out retirements.
Compound interest is my friend.
mwalker324@reddit
I’m hoping I can retire at age 67 in 23 yrs, but then part of me is worried that I’ll be bored and depressed. I’m not a workaholic by any means, but I like working. Hopefully I’ll have grandchildren to keep me busy. Or maybe I’ll just get a lot of dogs. 🤭
StillhasaWiiU@reddit
No. I've reset my life from scratch too many times.
Listening_Stranger82@reddit
Mattyj273@reddit
Nope
IlIl0lIlI@reddit
Retired last year with a military pension and enough invested to retire without the pension. We done good and proud of it ;)
genesimmonstongue415@reddit
I know I'm the only 1... but Yes. Shooting for Age 55.
D. I. N. K. W. a D. & I slowly started planning at age 28.
G*d bless my Union, my Vasectomy, my lady, & my frugality.
dominator5k@reddit
I'll retire in about 7 years. I'll be 50
Nwcray@reddit
I’m on track, yeah.
A lot can happen in 17 years (my date), but I’m on the right glide slope to get there pretty comfortably.
_somelikeithot@reddit
I think I have 23 years, and I like to think I’ll be ready by then. I have accounts earning interest, that takes time.
ScarletTanager@reddit
I plan to die at work so they have to clean up the mess.
Big_Slope@reddit
I have a kid who will always need support so I could never retire and spend his inheritance. I’m working until I can’t and probably not making it home from the office after I clean out my desk.
stykface@reddit
Financially? Yes. Mentally and physically? No, because I do like to work.
If I wanted to, I could realign my stock market investments now and work another 5 years in padding them as much as I could and financially retire in a sense that I could draw enough to live, but the majority of why that's true is my wife and I don't have any debt, our last kid would be out of high school by then and even our house is paid off.
I'm a high income earner and it took a long time to get there but the rate of inflation is the only hesitation I have for it being doable in the next five years. But I like to work and like my market and industry and I'm filling more of a mentorship role these days, developing and coaching the Gen Z and younger and it's been fantastic.
Express-Cow190@reddit
I save decently for retirement. I’m hoping once my wife is back to work to be a little more aggressive with it.
My house should be paid off by 60 as it stands.
Having said all that, there’s definitely more “unprecedented” times ahead.
SciFi_MuffinMan@reddit
I love my work - I’m tired of life.
ProfessorOfLies@reddit
No retiring for me. I am a professor and love my job. I could see doing less teaching, but until I can't do that well anymore I wouldn't want to stop
MojoHighway@reddit
https://i.redd.it/zo9b4klx95wg1.gif
Retirement? What's that?
ElegantOperation7@reddit
I'm retired now, FIRE fwiw. Spouse is still working due to healthcare and they love thier job. We saved and invested for this opportunity.
1042Mary@reddit
My mom started from zero after her divorce. It was 1996 and she was 36. She worked at Walmart for the next almost three decades saving what she could. She is 65 now and was able to retire last year. I am 42 and starting from zero due to COVID job losses wiping out our savings. My mom gives me hope that it is not too late to climb our way back.
We have a new home with a 15-year mortgage that is set up so the upstairs could be its own future apartment rental (currently our daughters’ living space), plus another house that could be a future rental (we own my mom’s home because she had no credit to buy it; she pays the mortgage). Have not yet been able to start saving again in any meaningful ways, but our income is stabilizing and I think we will be able to support ourselves in non-traditional ways. Do I think that will be in 15-20 years? Eh… 25-30 maybe.
WakeyWakeeWakie@reddit
Ready now. I need to work 2-5 more years though to be comfortable though (I’m 48).
Aggravating-Try1222@reddit
I've never been interested in retiring.
EliteCheddarCommando@reddit
2 kids later in life.. so no. Will probably retire 25+ .. if I’m lucky
ArticulateRhinoceros@reddit
I have 24 years left to college my full pension.
ljf137@reddit
Yes, aiming for 10 though.
HildeFrankie@reddit
As long as the government doesn't collapse before then. I am a fed civilian who works for the US Coast Guard. They don't even know if they are going to be able to pay my next paycheck due to the current government shutdown......so what was a definite plan to retirement in the next 10-15 years with 22+ years under my belt is now unknown.
SB4_Camaro@reddit
I'll retire Nov 20th 2038 with 35 years. Im projecting $10,000 a month plus what's in my retirement account near $1,000,000.
shanty2021@reddit
i was retired by ieds and other explosion type things 20+ years ago.
pingus3233@reddit
Turbowookie79@reddit
Financially I’ll be ready in ten years, 56. Mentally I don’t know if i ever will be ready. But life is short, and I’ve spent way too much time and effort investing to go longer. I’m out in ten whether I want it or not.
Watergirl626@reddit
Gotta start mentally preparing now. Start a new hobby, give consideration to what you want to do but never have time for, or new things you'd like to try.
throwawayhbgtop81@reddit
I have 14 years until I reach my retirement date. I'm going to be ready.
Firebolt164@reddit
My retirement plans involve greeting shoppers at Walmart
LMurch13@reddit
Haha haha, next question.
DHN_95@reddit
I've been looking into this a bit, and I think I'll be good to retire at 62. I'll probably claim social security (if it's still around) by 67 to get the most from it.
zaggytiddies@reddit
No but I might be dead.
averageduder@reddit
Yea. 20 absolutely. 15 probably.
I put in 7%, then in addition I max Roth and put $25” every two weeks to a 403b
MiniTab@reddit
I have to mandatory retire in 16 years (pilot), but a shooting for 11 in case I’m just over it. I do enjoy my job, so I’ll probably spend the last 5 years basically working part time for the health insurance.
bassjam1@reddit
Same timeframe, I'm shooting for 15 but if I wait 20 should be no problem. I peaked at maxing my Roth and 15% in the 401k (plus 7% match) in my early 30's, I'm down now to just the bare minimum to get the match in my 401k but it has less of an impact at this point.
EcstaticPlankton8621@reddit
Maybe 20 but probably more realistically 25 (I'll be 65).
DBE113301@reddit
I'm 46 now. If I retire at 67 (which is the plan), I will have been at my college for 40 years because, for some reason, they took a chance on hiring a babyfaced 27-year-old fresh out of grad school. After 40 years in the system, my retirement account will look…well, let's just say that it'll look pretty nice. And frankly, I think it'll be 20 years before I'm comfortable with the idea of retirement.
Few-Mastodon-1710@reddit
That’s cool, I work in higher ed too! I worked in social services for 20 years after I got my undergraduate degree. It was all work and no play, on-call every other weekend & half of the holidays. Not very financially lucrative, but I saved a few people from suicide and I saw the miracle of self-determination bloom in the mind of hundreds of folks who needed help to overcome their struggles with addiction, depression, anxiety, and all the societal ills associated with them. When I finally decided to get out of direct care I got a job working at my alma mater. I’ve been there for 4.5 years and since my wife & I don’t have kids & are very fiscally conservative. I need to talk to my financial planner at the teacher’s retirement system about how to maximize my savings so maybe I can retire before dementia sets in.
DachshundNursery@reddit
I hope so? TIAA Cref says I'm on track.
SomeoneHereIsMissing@reddit
According to my pension plan, I'm retiring in 10 years.
DRARCOX@reddit
Unless something changes, I plan to continue working in my field for an extended period. I enjoy my job, I have the ability to scale it back (part time, for example) without leaving my position, and I don't think I'd enjoy having so little structure to my life if I completely retired.
ABSOFRKINLUTELY@reddit
What do you do?
Ok_Rule_8559@reddit
Absolutely. And it is always interesting how there are so many different ways that people have planned to achieve the goal from FIRE to high paying roles to living well below ones means. There is such a myriad of different ways to approach this goals based upon your particular methodology.
I played the long game as when I was 15yo I had a reading assignment in my high school economics class and the instructor gave us a selection of books to read and I choose “The Richest Man in Babylon” and though I did not know it at the time but that book was life changing for me financially. The basis of all the short stories was “Pay Yourself First” regardless of how much or little you make. So I had just started my first “real” job and the 401k was fairly new at the time and I chose to save 15% of my minimum wage pay and never looked back. I then married my lovely wife that I had known since 4th grade and also had the same financial mentality I had so we implemented this approach in our late teens and it has now been 40 years of this approach on top of our career opportunities as we simply never changed that habit regardless of educations, family, raises, struggles, economic down turns, etc. we just stayed the course and the results have been astounding to be honest but we just treated those deductions as missing money the rest of our working life so we have had between 15-30% of our pay taken out for that entire time and never less then 15% as once we learned to live without it in our late teens, it was a non-issue and we managed to be with companies that matched a portion of that for at least 35+ years so the dollar cost averaging of investing for such a long period of time on top of anything else we had access to, has paid off insanely well.
We will retire in the next 5 years or so unless the companies we work for “pay us” to leave as we could go now but to be honest we love our current jobs and the flexibility they provide so it would be stupid for us to leave at the moment but we would not complain if they RIFd us at any time and we are both heavy users of A.I. in our work places which adds to our value to our particular organizations as we both know that “partnering” and learning how to best utilize A.I. to the benefit of our organizations is how to add niche value in an A.I. driven environment and extend our value within our companies but in the end many of the roles we have historically had will be toast long term without a doubt.
ZedRDuce76@reddit
I’ve got another 23 or so years until I retire.
Infamous_Tie5605@reddit
I was ready to retire the day after I finished highschool.
Ideally, 55th bday. (Looking positive)
Realistically, before I'm 60
min_mus@reddit
If things go according to plan, yes.
absentlyric@reddit
Most likely, Im on track to retire by 64 and that was with a very late start, I didn't start putting in until I was 40
, the thing that would kill me is paying for healthcare when I do retire. Which will force me to retire when I can qualify for Medicaid/Medicare (Idk the one thats meant for old people)
flikken1@reddit
The plan is retiring in the next 10 years. I’ve been making good progress in money/promotions at work and have been maxing my 401k contributions for 5 years now. My spouse, who is 5 years older than me, has been at the same company for the last 30 years and is planning on retiring in 5 years. I’ll stay on longer to save more and to have our health insurance covered. It’s a balancing act for sure.
frawgster@reddit
I’ve got about a decade before I can tap into a pension I left at my old job. Once I’m there, my plan is to get a job carrying fuck-all responsibilities and accountability. Draw pension, have low paying low stress job, then 5 years later draw SS. Hopefully this all works out. 🤞
Lucky_Louch@reddit
That's a no from me dog... I will be mentally and physically ready but no way financially.
SalukiKnightX@reddit
With the way the economy has been, I don’t assume a thing.
Dry_Inspection_4583@reddit
Not even close
Jimmy_McAltPants@reddit
Barring something catastrophic (like a 2008 meltdown), 15 years max. I’d be in position in 5 or 10 if I really wanted to, but will probably do it at 62 just for the extra few years of investment growth and continued contributions (not to mention insurance).
tallicafu1@reddit
Yes, hoping to retire in 12-15 years. Been saving since I started working and carry very little debt (house and car is it). Paying both down aggressively while investing. One kid and we’re past the true daycare financial hell. I have a generous 401k match at work. My wife will also get a pension through her job. Fingers crossed!
Rosserman@reddit
Would love to retire by 60 & just do cycle trails, gardening, and holidays with the Mrs.
Still have two young kids (4 & 6) but the mortgage is gone so I'm managing to put away ~$2k/month and I hope that gets me there.
hernondo@reddit
I’m not so much worried about the retirement money, short of healthcare. Healthcare is going to be a very serious to many Americans trying to retire. And it’s hard to envision yourself as an old person needing a lot more healthcare, so it doesn’t weigh quite as heavy in your mind today for most. But, you MUST have a plan for healthcare, or retirement is a non-starter for almost all of us wanting to retire with a “normal” amount of retirement funds.
Dickrubin14094@reddit
Yes. My wife and I have been saving in our own account above and beyond what’s offered through our jobs. Plus, I’ve got 19.5 years left on my mortgage. Not having that payment will be key to being able to retire.
thechristoph@reddit
I chose a partner who is a financial drain. I’ll never retire. Partner lives as if they’re retired, so good for them.
EssenceOfLlama81@reddit
A little bit more than 20, but yes. My wife and I are on track to retire at about 64, but will likely work a little longer just to be safe.
The-Stoic-Investor@reddit
Yes, I have invested heavily into my 401k and self managed the funds in high growth, wide moat companies. If I knew how to invest 20 years ago, I would already be retired. However, I grew up poor and had no idea how to manage money.
az_climber@reddit
Depends on market performance and how much more expensive healthcare can get before Medicare eligibility.
I’m currently around 5x income invested. Spouse will have a pension in 14 years.
SomeGuyOverYonder@reddit
No one in my generation will ever retire. We will die in dire poverty and will probably starve as the wealthy class fight each other for absolute dominance.
velocitrumptor@reddit
I already am. Made the choice to commission as an officer in the USAF and I'm now pulling enough between regular retirement and VA disability that my bills are covered. I'm going to do something else to keep me busy though.
yodamastertampa@reddit
I don't understand these people with no post history just asking random questions
ohb78@reddit
I don’t understand why this upsets you
AndrewInMN@reddit
21k karma, 5 year old account. They just have their post and comment history hidden on their profile, which you can do as well.
GuyWhoSaysYouManiac@reddit
? It's a 5 year old account. They are just hiding the history.
aLongWayFromOldham@reddit
Not financially :(
Intelligent-Camera90@reddit
Not unless something drastically changes.
I didn’t start saving for retirement until my late 20s, so I definitely don’t have as much saved as I would like. However, I’ll have the last of my student loans paid off this year and can start being really aggressive with my mortgage.
redstopgringo@reddit
I got plans. I’m gonna turn my on-off switch to off.
The-Great-Ennui@reddit
No. Just entered graduate school this year and will have my degree in four years. I’d like to use it as a second career. I fully envision collapsing at my desk.
CayseyBee@reddit
We'll both get state pensions and are going to retire in 15 (minimum age to draw) so long as health insurance is manageable. We're going to reduce our lifestyle to what will fit into what we get. I'm already so tired of this shit there's no way I could continue working knowing that technically I could draw a check.
Ilovefishdix@reddit
Not a chance in hell. I'd depend heavily on social security and having my mortgage paid off. Neither is guaranteed now.
DickBurns01@reddit
I seriously doubt I'll be alive in 5 years
NewSpice001@reddit
Yes, my job gives us a golden pension after 25 years. I hit my time at 50. And I'm looking forward to the idea of not needing to work. I still intend to work, but at this point it will be if I want to only...
22220222223224@reddit
I'm in it until my early '60s, because I worry about money (even though I don't need to). That means 20 more years. My wife assures me she will retire at about 55, because she doesn't want to work much longer. So, again. That means about 20 years.
pushdose@reddit
55 is my number. I’d rather it be 50 but I’m not sure I can make it in 5 years. I’ve got housing and energy sorted, but I need to pad the retirement fund for steady income. Let’s hope the market doesn’t pop.
TuesDazeGone@reddit
The goal is 62, I have lupus though so no guarantee I'll be able to work that long. I upped my 401k contribution to 10% just in case.
DetroitsGoingToWin@reddit
Realistically I’ll probably be like my bad and work until I can’t anymore. Then, I’ll be poor. Then teeter around for about 8 years, have a bad fall and end up in a low income nursing home.
50 hours per week, these are the good days.
moonbunnychan@reddit
My retirement plan is whatever nuclear Armageddon the world finds its self in.
PolarsteeleMGB@reddit
I’m guessing 70, so in a little less than 30 years. Got two little kids so 15-20 feels too soon
AndrewInMN@reddit
I’d like to between 55-60. Whether I’ll be ready by then is another story. But if I have to work beyond 62 then I fucked up.
SnooKiwis2161@reddit
Depends on if social security is available
I have other plans to support but if the SS I paid into isn't available to me, that's going to be a significant chunk. Not sure how I'll make up the gap. And that's even with a 401k.
Super_Direction498@reddit
Nope. No savings, no property, im 43.
firegecko5@reddit
I was ready in 1999 after my first shift at my first job. Unfortunately my bank account wasn't and might never be.
Dry-Astronaut-8640@reddit
I’m ahead of you guys. I did the “join the army, get sent to fight in a bullshit war and return disabled” retirement plan.
It’s not quite how I planned my life, but at least I have the retirement part figured out.
Antique_Paramedic682@reddit
Same, I'm already retired under than plan.
dandelion_galah@reddit
No. I hope to work until I die. Maybe that'll be in 15 to 20 years though. I'll wait and see.
mackattacknj83@reddit
I literally have nothing saved but all my debts outside of mortgages should be paid off in a couple years. We also have the home we're attached to to rent out in old age, we put my mom in there now because her teacher's pension doesn't get very far. We make decent money and live relatively cheaply (one car, cook at home, buy used), so I'm hoping to catch up. We also will have the twin home we're attached to to rent out.
The reason I have the debt is the house we're attached to was getting flipped so we switched to spending on credit cards only for months to race to a down payment (need 20% on an investment property). Then the river was in my living room like four months later, so a whole lot more debt to elevate both houses. It's an amazing place to live and for the kids to grow up so we felt it was worth it to stay.
Independent-Pack5144@reddit
Retiring in less than 10 years. I'll have a modest pension and very little or no debt. Won't be flush, but I'll have health insurance and won't be working.
GXP_2009@reddit
Yes
walter_grimsley@reddit
I’m thinking I have about 20 to go. 48 now. Kid has a lot of health expenses. I put a lot away, but will likely work until 65 or later if my health holds up. Trying to enjoy life now but’s it’s hard.
NYCWriterOfAllThings@reddit
LOOOOOOOOOOOOOOOOOOL!
happyhardonharry806@reddit
if you have 15 to 20 years you can START saving now and probably do okay.
Minute-Yogurt-2021@reddit
Financially - never. State of mind - please, let's do it tomorrow.
nochumplovesucka__@reddit
I'm gonna work until I die. I have state supplied insurance. If have more than $10K in my bank account, the insurance gets cut off. . They count retirement savings. If you try to get ahead, they take your insurance away. I have some medical issues, and with state insurance I have no copays for ANYTHING. But I cannot save for my future.
My son bought a house with a basement that can be remodeled, has its own entrance and everything. I told him he was my retirement plan. He said "you took care of me for 18 years, I got you dad"
So I guess thats what I have going on.
TheDivine_MissN@reddit
I’ll never be able to retire.
tracingtime@reddit
NOPE. But I took what I call early retirement....time off while no employment and then a big accident and cancer then industry collapsed so back to no employment.... While I could afford it I had a horse and spent a lot of time with her.... Now I'm poor and will have to work till I'm dead, but at least I was able to do some stuff while I was young and able-bodied. My future will suck.
nipslippinjizzsippin@reddit
20 years would put me at 60. No i dont think i will be ready and im in a FAR better financial situation than most my age.
Stang1776@reddit
Im semi retired. I dont know what to do with the rest of my life now.
Amoreke85@reddit
Lol. No.
HylanderUS@reddit
I'm ready now, but gotta wait ~10 years to take money out of my IRA, so gotta work until then
TAckhouse1@reddit
Hoping to retire in 10 years, though mentally I'm ready today. Mortgage will be paid off in five years, wondering if I can step back to a less stressful role at that point and coast until full retirement
toodleoo77@reddit
Shooting for age 50. I've been on the r/FIRE path for the last 13 years or so.
PotentialPlum4945@reddit
Darkpriest667@reddit
3001 days from today I will retire on my 53rd birthday. So far that trajectory looks right. I didn't even start "investing" until I was 37. Maxed ROTH 401k (employer matched 6%) yearly and am on track to hit well above my number on that day.
Getting into bitcoin early didn't hurt either.
YakiVegas@reddit
MetalEnthusiast83@reddit
I do, yeah. We have been getting more aggressive with how much we are investing and stuff the last few years and are set up well m me.
jackfaire@reddit
My 401k is sitting around $800 and I can't afford to contribute to it right now. My savings is 0.
By the end of the year at my current expenses I'll have around $3000 in the bank as long as nothing unexpected pops up.
So no. Not unless something drastic changes.
Same_Bug5069@reddit
Before. Youngest graduates when I'm 47, plan to stick around to 50 to pay down their education costs.
bcentsale@reddit
Financially, or mentally?
War-Bitch@reddit
I was but then life happened and now I’ll never be able to retire. Current plan is to kms in 20 years.
ManufacturerWild430@reddit
Yup. My plan too. Aging in this country is for the wealthy.
wango_fandango@reddit
Hoping for 15 but more likely 20. Ready for it now but need the years too build up pension and savings. Youngest child will be 18 in 15 years time.
piscian19@reddit
From this mortal coil yes. To live free the shackles of the grind, unlikely.
PopularSet4776@reddit
No, 25 maybe if my kids don't need permanent care.
cyrand@reddit
It depends, in theory maybe. In reality based on experience with everything always going wrong? Nope, will be working until the day I die.
OkFeedback9127@reddit
I was blessed, 3 kids wife and I work I hope to be retiring by 55. We lived below our means. It helped that I went to a cheap college so I paid off my student loans ASAP
AZbitchmaster@reddit
Yes, and much, much sooner than that timeline.
Ok-Air-5056@reddit
for sanity sakes once everything was paid off... took a step back from full time... for a better work/life balance... it may take longer to hit the full retirement but not people to sit and do nothing but putter around the house...
thatsnotideal1@reddit
Emotionally, I’m ready now. Financially, I’m targeting 10-15, hopefully less. No kids, so never had those related expenses.
OkFeedback9127@reddit
I was blessed, 3 kids wife and I work I hope to be retiring by 55
Chili-Potatoe@reddit
No, I won’t because everyone I know that retired was dead in less than three years.
adchick@reddit
That’s the plan. Targeting about 20 years, will be ready in 15 if we have to.
We are discussing buying land in the next 3-5 years, so it will be paid off by retirement to build our retirement home on.
Neither_Internal_261@reddit
lol no way Ima work until I die. I can "retire" from my job in 20 years if I stay with the fed but I'll definitely need a side gig
_ficklelilpickle@reddit
I’m projecting for 14-15 years time at the moment.
GuyWhoSaysYouManiac@reddit
Shooting for early fifties myself. Two incomes, no kids, and having lived beyond our means should make it financially feasible. I just haven't defined what "retirement" means yet, as I do think one needs some meaningful things to do.
Rude_Masterpiece_239@reddit
That’s the plan. My youngest graduates HS when I’m 54. Target range is 53-56 and we’re on course. You can always get knocked off, but so far things look good.
call-lee-free@reddit
Nope.
Turbomattk@reddit
That is the plan