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At what age do you plan on retiring

Started by Savonarola, January 30, 2019, 03:39:16 PM

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At what age do you plan on retiring (or did retire)

Younger than 50
3 (11.5%)
50-55
2 (7.7%)
55-60
1 (3.8%)
60-65
7 (26.9%)
65-70
6 (23.1%)
Older than 70
2 (7.7%)
Never
5 (19.2%)

Total Members Voted: 26

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Savonarola

January 30, 2019, 03:39:16 PM
I was reading an article about the FIRE (Financial Indpendence Retire Early) Movement.  While this isn't as alien to me as following beauty community influencers; it is quite different than how I thought as a young man.  Back when I was in my 20s I assumed I'd be working until they hauled my corpse out of the anaechoic chamber (bury me with my radios and my soldering iron.)
In Italy, for thirty years under the Borgias, they had warfare, terror, murder and bloodshed, but they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland, they had brotherly love, they had five hundred years of democracy and peace—and what did that produce? The cuckoo clock

Valmy

#1
January 30, 2019, 03:40:54 PM
I plan on retiring at age 70.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

The Larch

#2
January 30, 2019, 03:42:11 PM
No idea, to be honest.

Habbaku

#3
January 30, 2019, 03:56:31 PM
Current plan is to retire around 55 if my career continues as it has, though I might simply do a career shift around ~50 (to teaching) and do that until they haul me off.
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

Barrister

#4
January 30, 2019, 03:58:05 PM
Eligible for full retirement at age 55, in 2030.  Of course the longer I work the more I receive in retirement.

Problem is in 2030 my oldest boy will be 20, and my youngest 17.  Taking retirement will still be a massive drop in my income which I probably won't be able to afford, even with my house well paid off at that point.

So hopefully 2035, at age 60.  My youngest will be 22 and God willing none of the boys should still be living at home.  At that point it depends - if I've moved on and am doing some new and interesting job I'll keep working.  If I'm still doing the exact same kind of work I'm doing now I'll get the heck out of there.

From there I'll probably try and find some kind of part-time legal work just to keep busy and give me some spending money.
Posts here are my own private opinions.  I do not speak for my employer.

The Larch

#5
January 30, 2019, 04:10:36 PM
Quote from: Barrister on January 30, 2019, 03:58:05 PM
Eligible for full retirement at age 55, in 2030.  Of course the longer I work the more I receive in retirement.

Problem is in 2030 my oldest boy will be 20, and my youngest 17.  Taking retirement will still be a massive drop in my income which I probably won't be able to afford, even with my house well paid off at that point.

So hopefully 2035, at age 60.  My youngest will be 22 and God willing none of the boys should still be living at home.  At that point it depends - if I've moved on and am doing some new and interesting job I'll keep working.  If I'm still doing the exact same kind of work I'm doing now I'll get the heck out of there.

From there I'll probably try and find some kind of part-time legal work just to keep busy and give me some spending money.

Why do you call it full retirement if you'd not be getting the maximum pension?

Barrister

#6
January 30, 2019, 04:20:48 PM
Quote from: The Larch on January 30, 2019, 04:10:36 PM
Why do you call it full retirement if you'd not be getting the maximum pension?

If I retire before my pension fully vests I'll take a substantial hit to my benefits.

But once it vests, I get something like 2% of my salary per year of service.  So in 2030 I'll have 26 years service, and would be entitled to a pension of 52% of my final salary.  But if I work 5 years more, that's an extra 10% of my final salary, or 62%.

So the "maximum pension" means working for as long as you can - but that would be madness.  Sure I could work till age 75 (not sure what the mandatory retirement age here is) and get 92% of my final salary, but how much longer would I actually have to spend that?

Oh, and your pension "vesting" means you have to hit the rule of 80 - that your age plus years of service equal 80.  Which for me is in 2030, when I'll be 55 and have
26 years pensionable service.
Posts here are my own private opinions.  I do not speak for my employer.

PDH

#7
January 30, 2019, 04:29:13 PM
At the University of California after I turn 60 (oh hod, 7 years from now) I am eligible for the highest level of retirement - years of service x .025 to give you a number (effectively a percentage).  My three best years of money are averaged out and multiplied by that ratio to give me my annual retirement.

Since I started late here, in order to get more and to tie in to Social Security, I will work til I'm 67 - That will get me 40% of my UC salary, plus my 403 money from here and the University of Wyoming, and my sweet sweet government check.  2033 or somewhere around there.

Since the economy will crash before that, I will actually end up with nothing and live in a cardboard box under the Interstate, but that is my plan above.
I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.
-Umberto Eco

-------
"I'm pretty sure my level of depression has nothing to do with how much of a fucking asshole you are."

-CdM

Admiral Yi

#8
January 30, 2019, 04:34:13 PM
I still haven't decided if I want to get SoSec at 62 or 65.  I'll probably keep working, some, even if I do start at 62.

Habbaku

#9
January 30, 2019, 04:35:41 PM
Oh, yeah, my entire plan is predicated on the USA not going to shit within the next 20 years, which is not at all guaranteed. So I've stocked up on guns and ammo as a backup plan.
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

Grey Fox

#10
January 30, 2019, 04:45:59 PM Last Edit: January 30, 2019, 04:53:31 PM by Grey Fox
June 26th 2049. That's a Saturday, the friday before is my birthday & I don't work on my birthday & I'll turn 65. I guess I'll actually retire June 28th 2049, the first monday following.
Colonel Caliga is Awesome.

Josquius

#11
January 30, 2019, 04:47:50 PM
Doubt I'll live that long. The odds are against it.
And its unlikely my generation will get much of a retirement anyway.
So never.
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Habbaku

#12
January 30, 2019, 04:49:56 PM
Quote from: Tyr on January 30, 2019, 04:47:50 PM
Doubt I'll live that long. The odds are against it.
And its unlikely my generation will get much of a retirement anyway.
So never.

The only reason you won't retire is because you don't plan or save for it. Being fatalistic about something that is, to a large degree, in your own hands is downright silly.
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.
-J. R. R. Tolkien

derspiess

#13
January 30, 2019, 04:54:28 PM
Between 55-60, fingers crossed. 

Maybe sooner if I can get my kid's fastball velocity high enough, or have him develop a slider :P
"If you can play a guitar and harmonica at the same time, like Bob Dylan or Neil Young, you're a genius. But make that extra bit of effort and strap some cymbals to your knees, suddenly people want to get the hell away from you."  --Rich Hall

Eddie Teach

#14
January 30, 2019, 04:56:24 PM
I'm pretty much retired now.  :sleep:
To sleep, perchance to dream. But in that sleep of death, what dreams may come?
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