At what age do you plan to retire?

Facebook Confusd
May 15 22 Comments

I want to retire at 50 and live in either Florida or Texas.

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TOP 22 Comments
  • Yesterday
    May 15 0
  • Microsoft lHcN54
    Florida is unlikely to exist, as we know it now, by the time you retire if you are in your 20s now
    May 15 4
    • Facebook Confusd
      OP
      Interesting. Would you mind elaborating more?
      May 15
    • Google wFatDuck2
      Probably referring to sea levels and warming
      May 15
    • Microsoft msftpotato
      What do you mean "elaborating more", are you not aware of climate change?
      May 15
    • EMC yskV77
      Sure...
      May 15
  • Microsoft / Eng bebK16
    If we actually get universal health care in the US, I could likely retire by 50-55 (house will be paid off, kids' educations are paid for). If we don't, then I'll need to go to 60-65 to keep coverage for the kids (family history of early adult cancer, so I want them on good health coverage for preventative screening in their 20s)
    May 15 0
  • Nvidia signale
    Some delusional 20yr olds here
    May 15 5
    • Facebook public2
      Probably need to define retirement. I retired in my 20s as in didn't have to work but am still working decades later.
      May 15
    • Nvidia signale
      You must have bought ButtCoin
      May 15
    • Facebook public2
      Not sure crypto existed decades ago, that would have been cool though!
      May 15
    • Nvidia signale
      Peter Thiel was an early investor in Facebook, and he was pretty rich in his 20s hmm..... 🤔
      May 15
    • Facebook public2
      That's always a way to do it but Peter was rich long before that.
      May 15
  • Facebook Confusd
    OP
    It is evident that, the vast majority wants to retire by 50. Why can't we change this for our generation?
    May 15 4
    • Microsoft / Eng bebK16
      What's to change? If you want to retire by 50, then you need to adjust your savings rate to match. It means you'll probably want to go to a cheaper school to avoid massive student loans. You'll probably want to rent it if you buy a house it'll likely need to be cheaper than you would otherwise buy in order to maintain your savings rate. You'll need to investigate your savings vehicles and plan for things like Roth conversion ladders.

      The "official" retirement age only matters to Social Security. 401k and IRA withdrawal ages can be worked around. Everything else is up to how focused you want to be on FI/RE vs taking vacations, buying fancy phones, etc.
      May 15
    • Facebook Confusd
      OP
      Healthcare is unaffordable. You'd never realize this working at Microsoft. Buying half decent private insurance for a 50 year old couple with a couple of kids will cost you closer to $2500-$3000 per month in today's money. God knows what it will cost a few decades from now.
      May 15
    • Microsoft / Eng bebK16
      Yeah, health care is my main blocker as I mentioned above. But I wouldn't want to tie that only to retirement to avoid solutions like "reduce the Medicare age from 65 to 55". We need Medicare for All, not Medicare for Early Retirees.

      The rest of my point still stands, that the "rules" around retirement do not percent people from retiring early, though they may incentivize people to retire late.
      May 15
    • Facebook Confusd
      OP
      All your other points are common sense and obvious. I don't need to read those to know what I need to do to retire whenever I want bar healthcare.
      May 15
  • Microsoft / Eng dKWp30
    Want save aggressively now and transition to a lower stress/maintenance career later on but need higher TC to do so more easily
    May 15 1
  • Oracle desigirl
    Most of you children will work till 60!
    May 15 0
  • Facebook public2
    Why do late?
    May 15 0