At what age do you plan to retire or

[Shawn Braquet]

When y'all say your putting "X%" into your 401k, I'm assuming your meaning total combined input, yours plus any matching from the company. My next question would be is your wife doing the same, similar, or nothing. Only reason I ask is I've been putting into a 401k since I was 25. Started at 15% between me and my company and over the years have climbed to where I am now putting in 22% combined. My wife doesn't work however so I have to put in for the both of us. Planning on putting into a Roth IRA when I get my tax return as well. I ask about what your wives put in to see what the norm is. Most wives of the guys I work with don't put into anything so basically I am doing the same as them but putting in more than them. I'm 32 now and hoping to be able to retire around the time I'm 60 but imagining SS will be a thing of the past by then.

[irokcj5]

Originally Posted by Shawn Braquet

When y'all say your putting "X%" into your 401k, I'm assuming your meaning total combined input, yours plus any matching from the company. My next question would be is your wife doing the same, similar, or nothing. Only reason I ask is I've been putting into a 401k since I was 25. Started at 15% between me and my company and over the years have climbed to where I am now putting in 22% combined. My wife doesn't work however so I have to put in for the both of us. Planning on putting into a Roth IRA when I get my tax return as well. I ask about what your wives put in to see what the norm is. Most wives of the guys I work with don't put into anything so basically I am doing the same as them but putting in more than them. I'm 32 now and hoping to be able to retire around the time I'm 60 but imagining SS will be a thing of the past by then.

My xx% does not include company match. I'm fortunate to work for a fantastic company that, if you put in at least 6%, you get 5% match, then they give us another 4% at end of year (as long as business is good), so 9% company provided, plus my 12% I'm at now = 21%. Wife has part time job at a non-profit, so no savings. As soon as daughter finishes college in may, I'll be able to start saving another grand/mo. since I'm at "catch up" age.

In saving, time is vastly important. starting at a young age is the most important thing to do, that way when you're 52 like me, your money will be working for you. Its the rule of 72. Wish I'd understood that years ago.

[Average Fisherman]

My wife and I are self employed, so we will likely never retire. We may just let more of the business go, or hire others to do what we do over the years. We would be able to retire much sooner if we didn't travel quite a bit now, and if health insurance wasnt so freakishly expensive for self employed people. And when I say we travel a lot, a lot of that has been finding fun stuff to do within 5-6 hours of home. Several years back I mentioned going to see what it would be like to camp on a Louisiana beach. Now, several years later, we come back several times a year. So basically, we may never retire, but in our slow times, it kind of feels like we are close to being there for a couple months a year. I'm cool with that. Plus, we just made 12 years married today, and still have a blast together. That helps.

[Shawn Braquet]

Originally Posted by irokcj5

My xx% does not include company match. I'm fortunate to work for a fantastic company that, if you put in at least 6%, you get 5% match, then they give us another 4% at end of year (as long as business is good), so 9% company provided, plus my 12% I'm at now = 21%. Wife has part time job at a non-profit, so no savings. As soon as daughter finishes college in may, I'll be able to start saving another grand/mo. since I'm at "catch up" age.

In saving, time is vastly important. starting at a young age is the most important thing to do, that way when you're 52 like me, your money will be working for you. Its the rule of 72. Wish I'd understood that years ago.

No doubt on starting young. I didn't have an opportunity to invest before the age of 25, but my company is similar to yours that they match 4% to my 6% but give me an additional 5% in place of the previous pension so I put in 6% and get 15% put in total. I put in 13% now and have it set up to increase by 1% every year. The past 2 years I've bumped it up an additional % when I got my yearly raise also. I regret not putting in more than 6% early, I believe I started adding to it around 27.

[fisheye]

Just don't get divorced.....murder is probably cheaper......

......but I'm not bitter......

[Shawn Braquet]

Originally Posted by fisheye

Just don't get divorced.....murder is probably cheaper......

......but I'm not bitter......

LMAO so I've heard.

[eman]

Originally Posted by marty f

51. Ill be 47 in a month just waiting to get one more through high school then ill be fishing the white and buffalo river...........

Have fished them both. The buffalo is probably one of the nicest fishing trips i have done in my lifetime. 4 days fishing , drifting and paddling.
Just remember when they say you will be camping on the sand bars. the grains of sand are rocks the size of base balls and bigger.
Also it's worth getting there early and making camp just below OH Sh-T shoal one day just for the entertainment.

[swamp snorkler]

Originally Posted by Shawn Braquet

When y'all say your putting "X%" into your 401k, I'm assuming your meaning total combined input, yours plus any matching from the company. My next question would be is your wife doing the same, similar, or nothing. Only reason I ask is I've been putting into a 401k since I was 25. Started at 15% between me and my company and over the years have climbed to where I am now putting in 22% combined. My wife doesn't work however so I have to put in for the both of us. Planning on putting into a Roth IRA when I get my tax return as well. I ask about what your wives put in to see what the norm is. Most wives of the guys I work with don't put into anything so basically I am doing the same as them but putting in more than them. I'm 32 now and hoping to be able to retire around the time I'm 60 but imagining SS will be a thing of the past by then.

I put into my wifes one all the time, it's when you put it into someone elses wifes one that the trouble starts.

[smooth move]

i retired at 55, i'm 66 now. been the best 11 yrs of my life. i have a pension and ss and run a little welding business. started a hot shot co after retirement and did pretty well, but hated being on the road. really think a young fella could do good in the trucking business if he worked hard and had a wife/book keeper to help out. after a couple years of hard work, he would be mainly just dispatching if he played it right.

[kcinnick]

I guess I will never really retire, but I do own a business. People tell me I act like I am retired. Big part of why we don't have to worry about money is we had no debt for years and paid cash for a house. I don't mind a little debt now that I have a paid for cash house and an actual net worth. I think about jumping back in the market, but I can turn that money faster and make more money myself through my business. 32, hitting 33 next month. Our biggest yearly expense is education...

[simplepeddler]

Never

[Baychamp1]

With 2 mil invested you should expect a 5 pct.avg. return in any market. 100k return annually is more realistic

[jpd0144]

Originally Posted by fisheye

Just don't get divorced.....murder is probably cheaper......

......but I'm not bitter......

Try 3 ! ...

Retire ... What's that ? Lmao !

[I make oil]

Originally Posted by Baychamp1

With 2 mil invested you should expect a 5 pct.avg. return in any market. 100k return annually is more realistic

^^^^ This.

I will likely never retire. I love what I do and want to keep on doing it as long as I can. If it ever stops being fun then I will retire. I used to think I wanted to get my Capt license and retire and guide a few days a week but have decided against that.

[Armand16]

Originally Posted by alphaman

have you retired, what age?

I'm 34 and in Law Enforcement. I gave 20 years to go god willing. Ill be 54 when hit 30 years. and plan on doing a year are 2 in the drop.

If your wondering when you can afford to retire, what you will have in after tax dollars compared to what your inflated expenses will be in 20 years, stop by my office and we can run a financial plan.

[alphaman]

I'll be sitting fat after the drop. Lmao. jj

[Ed32]

I'm only 35 so there's plenty of time to life to happen but I'd like to retire at 55. That's when several of my rent houses will be paid for and will provide a nice monthly income. I'm also maxing out my Wife and I's Ira every year. I'll also probably keep my license and build a couple of homes a year for Extra money

[jchief]

Retired after 21.5 years of paid service in the FD at age 51.5. Was planning on doing 27 years but had some health issues.

Wife had shoulder issues and is unable to work, so I am back working, my schedule, doing truck driving.

Spent 37 years total in the FD.

While public service pay sucks, the benefits are pretty good if you stick around long enough.

[CustomRod]

I'm 60 now and just started a new job with similar benefits and a much lower stress level than what I left. During my interview the asked where I saw myself in 5-7 years and I laughed, told them my age and said I just wanted to have fun at work for a while. I probably could retire and make ends meet, but a big part of staying employed is for insurance benefits.

[cajun bill]

Originally Posted by irokcj5

May God be with you friend. Thank you for your service.

X100, hope you return safely.