Retiring? | Imamother

amother

Tue, Jul 02 2019, 2:57 pm

At what age did your parents, and / or you retire? What did they/ you do professionally”? I’m wondering what the norm is and how to earn enough to make it after that point.. Thanx!!

amother

Cerise

Tue, Jul 02 2019, 3:25 pm

amother [ OP ] wrote:

At what age did your parents, and / or you retire? What did they/ you do professionally”? I’m wondering what the norm is and how to earn enough to make it after that point.. Thanx!!

I think it usually depends on how financially stable a person is. I have heard of people waiting for their mid to late 60's and early 70's to retire.

amother

Violet

Tue, Jul 02 2019, 4:33 pm

My dh retired at 62 (mainly because of a disability). He's 4 years older than me. I still work at age 61--and figure I'll likely need to continue until age 70. we don't have any savings, but we each have pensions, and Social Security. not a good situation. I think I would even work part-time after I retire from my full time job. so hard to put savings away when you're raising a big family.

amother

Copper

Tue, Jul 02 2019, 4:46 pm

My dad retired in this late 70s, I guess, after he sold his business. He didn't have a lot of savings, so its difficult.

I intend to work until at least 67, and DH will probably work until his early to mid 70s (he's older than me). I'm told we'll need $1.7 million -- at least -- to retire. We won't have it.

nicole81

Tue, Jul 02 2019, 4:52 pm

I think it was easier for my parents' generation. My mom was a legal secretary for a top international law firm and retired at about 60. My dad took an early buyout from his union to retire in his 40s, and then took on odd jobs to pay for extras until he passes away... But odd jobs were enough to get by with in Brooklyn back then.

My plan is to retire at 55 but I still have years to go so we'll see how this pans out. My husband is older than me so when he will retire will likely depend on his health and whether we can swing it on my plan with less than the full social security rate from him.

amother

Brown

Tue, Jul 02 2019, 4:57 pm

My parents are in their 70s and both still work, my mother part time after she officially retired from her full time job. My mother actually retrained for a new career (somewhat related to her field) a couple of years ago, one that she can do part time and make her own hours.

zaq

Tue, Jul 02 2019, 6:01 pm

amother [ Cerise ] wrote:

I think it usually depends on how financially stable a person is. I have heard of people waiting for their mid to late 60's and early 70's to retire.

And some people never retire, either because they can't afford to (worst-case scenario) or because they LOVE what they do and don't ever want to quit (best-case scenario).

ROFL

Tue, Jul 02 2019, 7:43 pm

Health insurance is a big question for us. My DH was laid off several years ago and is doing odd jobs. I carry the health insurance and can’t retire till we are eligible for Medicare and then I have to check how much money we will need

amother

Vermilion

Tue, Jul 02 2019, 8:17 pm

Its funny- I’m in my 40’s and want to go back to work - doing something that I can enjoy doing until I’m good and old!