Spin-off to retiring in 20 years

For those of you who think they won't be working in 20 years, do you think you will have enough to retire?

I know some of you get pensions. Do you think that will be enough?

How much do you all think you will need to retire comfortably at that point?

Re: Spin-off to retiring in 20 years

I am going to sound like a nutjob but even if I had enough money at 45 to retire, I would never. You just never know what life has in store for you and I could live for 50 years after that!!!


I get my pension in 30 years ( 27 left actually LOL ) plus my SS plus my TSP ( retirement fund )

BUT at that point I will still have a mortgage PLUS my future children may still have school left and I would love to be able to help them with their own weddings and homes!

Plus, like my dad says - when you retire - you get old.

Re: Spin-off to retiring in 20 years

We are trying now to save but with all these banks and investments firms going under we are afraid for our money. Right now we have CD's with BOA so I hope that is safe and we both have 401K's we contribute monthly too. So hopefully in 40 years when I am 71 I try to retire.

Re: Spin-off to retiring in 20 years

My husband and I are both hoping to retire in 10 years (he will be 57 and I will be 52). But retirement is somewhat of a fluid term for us. He has what he commonly refers to as his FU number (the number at which he can tell any employer, perspective or otherwise, to fu) . Right now we are on track.

We have always been great savers, bought our house at the right time and live below our means. But, we have one major hurdle covered, health insurance. I have a federal job, and at age 52, will have 28 years in, and can take my pension with lifetime medical and cover my kids up to age 22)

I don't think my husband will ever give up working entirely though. I think he will consult and not have to work for anyone and just work PT, on his own terms.

Once I hit 40, I just came to believe that life should be about more than working and if I have the opportunity to stop, I fully intend to. I have seen to many people, in both our families, just wait to long to retire and never enjoy their retirement. God willing, we should be healthy enough to retire in our fifties and enjoy it.

But who really knows. My grandmother always said, if "you want to make God laugh, tell him your plans."

Re: Spin-off to retiring in 20 years

as far as a number goes, I think a couple in 20 years would need $2mm if you live another 20 years. That is without SS and a pension.

I don't think I will have SS and I will have a small pension if I stay with my firm.

As much as we put away, I don't see us hitting that number unless our investments grow exponentially. My pension is something I can't count on. Who knows if I will stay in my firm. They will probably get rid of me before I quit.

So I don't think at this juncture I can say I will ever fully retire.