How old were you when you retired?
I am 58 years old, work full time and even do some welding and construction on the weekends. The latter is where we get a lot of our RV and travel budget. Most of our trips are 1 week with a few that ...
Forum Discussion
I retired twice. once when I was 45 and again when I was 60. The first time was when I found out how expensive insurance was for two people. The second time was when I was able to retire with company insurance, which I used until I qualified for Medicare.
As to planning for retirement; I started in 1963 with my first job. My wife and I decided to set aside half of any pay increase into a savings plan when ever I received a raise. The remaining portion, was added to our disposable and living expenses. I made my last home mortgage payment in 1985 and have lived rent / mortgage free since.
My advice to anyone who is contemplating a retirement when they reach a certain age is to pick your retirement age and calculate what the annual cost to live the lifestyle you want at that time. Calculate the annual income from savings / investments / odd jobs / Etc. and then determine how much you will need to draw down from savings. As long as your savings stay positive, your good to go.
As to planning for retirement; I started in 1963 with my first job. My wife and I decided to set aside half of any pay increase into a savings plan when ever I received a raise. The remaining portion, was added to our disposable and living expenses. I made my last home mortgage payment in 1985 and have lived rent / mortgage free since.
My advice to anyone who is contemplating a retirement when they reach a certain age is to pick your retirement age and calculate what the annual cost to live the lifestyle you want at that time. Calculate the annual income from savings / investments / odd jobs / Etc. and then determine how much you will need to draw down from savings. As long as your savings stay positive, your good to go.
