The Money Mustache Community
General Discussion => Share Your Badassity => Topic started by: forummm on September 09, 2014, 08:33:37 AM
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How old *will* you be when you retire?
A companion to the "How old were you when you retired?" post(http://forum.mrmoneymustache.com/share-your-badassity/how-old-were-you-when-you-retired/).
Tl;dr: About 36 or 37 for me. Probably a few years younger for DW.
For me, it's hard to decide. I'm 33 and married with no children. We're thinking about kids soon, so my future spending is more of a challenge to estimate. I have a lot of spreadsheets. Based on current spending and saving, I could get to FI at around 34-35. But if I'm no longer spending my time at work, I'll inevitably want to do things that cost more money (like more travelling and watching movies) even if I do those things inexpensively (e.g. hostels and Netflix). And having kids will increase spending some more. I'd also like to do more for charity (which could include volunteering, but sometimes giving money can be more effective). And the stock market could be overvalued a bit, so I'd like a bit of cushion for slower returns. I'm the kind of person where I think it's likely I'll be industrious my whole life, and perhaps in ways that bring in revenue, but I don't want to feel like I need to earn money. I feel like it's easier to stay in a job that is OK (but not what I'd choose to do with my time) and enables me to save a lot then to put effort into getting into something less remunerative later. Hard to predict how I'll feel when my time is relatively unconstrained (except for childcare, etc).
So probably 36 or 37 for me. DW is younger and needs to put in a few years beyond my projected retirement date to get SS and Medicare credits, so that will help pad the 'stash while I'm changing diapers and teaching the alphabet instead of earning money.
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44-45
I could possibly go a year or three sooner but there are circumstances at work that are "sticky". I'm ok with it though because it will allow for an unbreakable safety margin if things go according to plan.
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Currently both 35.
Me - work FT for another 5-7yrs, then unsure if I want to go PT or just call it a day and do other stuff.
GF/SO - work FT for another 3-4yrs, she wants to become a consultant and work seasonally. She enjoys her work but not FT. Unsure when she'll call it a day.
We have 2 kids (3 and 1), and live in a very expensive area. We'll downsize housing for sure once one she goes PT.
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I plan to cut my hours at work well before fully retiring, as to free up time for fun and side projects. I expect that to happen close to age 40, depending on where our assets are. If we weren't planning on saving for 2 kids' college tuition, it might have been sooner. Still pretty far away to accurately guess (I'm 33 now)
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I'll RE around 38 or 39.
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41-42
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How old *will* you be when you retire?
A companion to the "How old were you when you retired?" post(http://forum.mrmoneymustache.com/share-your-badassity/how-old-were-you-when-you-retired/).
Tl;dr: About 36 or 37 for me. Probably a few years younger for DW.
For me, it's hard to decide. I'm 33 and married with no children. We're thinking about kids soon, so my future spending is more of a challenge to estimate. I have a lot of spreadsheets. Based on current spending and saving, I could get to FI at around 34-35. But if I'm no longer spending my time at work, I'll inevitably want to do things that cost more money (like more travelling and watching movies) even if I do those things inexpensively (e.g. hostels and Netflix). And having kids will increase spending some more. I'd also like to do more for charity (which could include volunteering, but sometimes giving money can be more effective). And the stock market could be overvalued a bit, so I'd like a bit of cushion for slower returns. I'm the kind of person where I think it's likely I'll be industrious my whole life, and perhaps in ways that bring in revenue, but I don't want to feel like I need to earn money. I feel like it's easier to stay in a job that is OK (but not what I'd choose to do with my time) and enables me to save a lot then to put effort into getting into something less remunerative later. Hard to predict how I'll feel when my time is relatively unconstrained (except for childcare, etc).
So probably 36 or 37 for me. DW is younger and needs to put in a few years beyond my projected retirement date to get SS and Medicare credits, so that will help pad the 'stash while I'm changing diapers and teaching the alphabet instead of earning money.
WoW that is impressive. How did you pull that off or pulling that off?
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Aiming for 33.
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WoW that is impressive. How did you pull that off or pulling that off?
I've always lived frugally and worked almost constantly since 18, even during college (full time for 2 of 4 years) and grad school (1-3 jobs at a time). I started an IRA around age 20 and maxed it out every year and then maxed out 401k-type plans whenever available. Undergrad ended up being free due to going to a state school and getting grants. Grad school was free because it was a state school and I worked jobs that paid my tuition. In grad school I probably spent about $8k/yr total. I didn't have a car during grad school, had roommates, etc. I bought a cheap foreclosure during the housing crash. It's amazing how easy it is to save a lot if you just don't spend money you don't need to and keep a decent income. Admittedly, I have also worked incredibly hard and spent a lot of effort to keep expenses down. I do a lot of the things you read about here (no cable, Republic Wireless, cheap house, low food costs, almost no eating out, low utility bills, living close to work, not driving a lot, etc). But watching the money flow in each month--both from our jobs and the investments (most months anyway) and not flowing out too much feels really good.
I'm looking forward to freedom. I have so many things I want to do with the time.
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I'm guessing 43-45 age for me however I believe I'll be FI by 38-40. I just want a little extra cushion for my wife and I.
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FI 45, but I may not retire then. I suspect DH won't be comfortable with me retiring until 50. If so, I may work till 52 (20 years) in order to get my pension immediately rather than having to wait until 55, which would happen if retiring with 10-20 years here.
But kids would complicate plans a lot and they are hard to estimate costs (and DH and I greatly disagree about amount of college support required), so that's the big factor in whether we hit FI when I am 45.
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45. I'm 30 now, and could easily do it with a family of 3 by 37, but 45 will put me at full military retirement benefits. Plus I love my job and can and have about $300,000 of 'almost' guaranteed reenlistment bonuses in those 14 or so years, that I didn't even count into my RE calculations.
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I'll be leaving the workforce next spring when my first child is born. I'll be 26, and I'm not sure I'll ever return. I do a little freelancing on the side. My husband is likely to drop dead at the piano one day, so I'm not sure he'll ever retire, but I would assume that by his mid-forties at the latest he'll give up the software engineering work he also does.
Becoming a stay at home mom is not retiring. Dont mean to sound like a dick but tons of people do this.
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I'll be retiring at 55, but hopeful FI much, much sooner!
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Gee, it sounds like I need to grow a few more whiskers. I'm 33 now, and expect to be able retire at 51. That assumes we stay in this stupidly expensive state of Illinois in the same big house, and that I don't get any raises at work between now and then. That also coincides with the time when our 6th (and possibly last?) child will turn 18.
Downsizing our home or moving to a lower-taxed area will certainly accelerate that goal. Same with getting a raise.
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FI 40. I think I'll have enough at 40, but I probably won't be totally comfortable without a salary in 5 years. But I could see taking on part time work, or working on a contract basis for a bit, or taking a "fun" job. Also depends on what DH is doing, we are not planning on retiring simultaneously.
Anyway, FI 40, RE 42-45.
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No idea.
I should be 40-45 when we reach FI (depending on whether or not DH works PT in the next few years, raises, etc). I have no idea when I'll retire, other than it will probably be some time after then.
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42-45, depending on stuff. And then having a kid is a potential curveball. I'm 38.
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I'm FI right now but still working as is the husband. I'm 41 and he's 43.
I imagine that we will work at our jobs maybe cutting back hours until we are in our lower or mid 50's. We'll get full pensions then from the state. Both of us have jobs we enjoy, we just work too many hours. Our mid 50's will be a perfect time for early retirement - still young enough to travel and enjoy things, and not a million years until we can get medicare. That is my biggest conundrum with early retirement is getting health insurance. The MMM method of getting a really high deductible plan just doesn't seem like the best idea. I have seen people with horrifying diseases that could easily eat up year after year high deductibles. It really isn't sound financially unless you are young.
Also paying for a dozen years or more or health insurance if I retire at this stage in my life will be a drain on the fun stuff I can do later in life.
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My plan has been at the age of 55. I am currently 39. Will probably continue to do something. I am hoping to be FI before 55 but will probably continue to work anyway. I have a job that I like.
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I will be 30, as will my wife (I will be about to turn 31, she will have just turned 30).
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I am 42 ans and sould be FI at 45 (somewhere between 44 and 46 depending on things outside of my circle of control).
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Anywhere between 32 (very optimistic) to 42 (very pessimistic).
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I'm 50. I plan to pull the trigger before I turn 51.
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Assuming no personal, professional, or financial market disasters, I should reach my FI target net worth just after my 28th birthday. Unless I'm really enjoying my job, I will probably RE around then, too, which to me means taking some time to relax and do nothing, then eventually working on some entrepreneurial ventures and maybe doing some consulting gigs for fun and extra income.
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Between 48 and 50. But I think that means retire from my soul crushing corporate job and do something fun and meaningful that isn't all about the paycheck though might bring in some small $$.
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42. In THREE DAYS.
Really would be appropriate to post that Ron Paul "It's Happening" GIF right here. ;)
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42. In THREE DAYS.
Really would be appropriate to post that Ron Paul "It's Happening" GIF right here. ;)
As you wish...
(http://img.4plebs.org/boards/pol/image/1385/83/1385835316667.gif)
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Hahahaha! You made my frickin' day.
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DH FIRE'd in June 2013 at age 44. I turned 40 in May. My FIRE target is between age 45 - 50.
I enjoy my job, and w/DH now home doing most of the childcare, meals, and cleaning...I've got a lot of "ME" time.
IMHO, when one spouse works and the other FIRE's - it makes the working spouse's life a lot easier and therefore there's less of an urge to get to the finish line sooner.
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42. In THREE DAYS.
Really would be appropriate to post that Ron Paul "It's Happening" GIF right here. ;)
As you wish...
(http://img.4plebs.org/boards/pol/image/1385/83/1385835316667.gif)
For maximum effect, set that as your computer screensaver and blast Lynyrd Skynyrd's Free Bird (https://www.youtube.com/watch?v=np0solnL1XY) through the office's PA system as you pack up your things and make your final exit...
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40 years 4 months. Provided DW's gig is going as well as expected my half of the stache will be done and dusted and my current contact will be up.
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How old *will* you be when you retire?
DH has 'retired' this year at 35. He won't go back to full-time work, but in reality he's part-time SAHD and working on a side-gig.
I plan on retiring in 2.5 years, when I'm 40. I could afford to leave now, but we have a 2 year old and I want the security of a bigger 'stache. I'll also get a significant payrise next year which will see my superannuation increase a lot if I stay on a couple more years. I am considering working part-time next year though.
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I'm thinking RE in 10 in my late 30s. I'm probably about FI now a few dozen thousand under my 4% SWR goal, but that includes house equity which I'd prefer not to include, it includes some rental real estate which I'll either sell or live in, and I'd rather make a lower SWR assumption.
I'm really curious what options I'll have for job flexibility in the next few years. If I get something incredibly flexible that I enjoy I can see myself working for longer.
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42. In THREE DAYS.
Really would be appropriate to post that Ron Paul "It's Happening" GIF right here. ;)
As you wish...
For maximum effect, set that as your computer screensaver and blast Lynyrd Skynyrd's Free Bird (https://www.youtube.com/watch?v=np0solnL1XY) through the office's PA system as you pack up your things and make your final exit...
We should compile a list of songs appropriate for impending FIRE.
Here's my contribution. "The Final Countdown"
http://www.youtube.com/watch?v=9jK-NcRmVcw
Side note: The 80's were great...
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Potentially 42 with DH 40. We will see. I am only 33 now so planning is valuable but plans tend to be subject to change.
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Right now I will be FI at 40. Too many variables until then it really strap that down.
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Hopefully I'll retire between 37-40 but there's a good bit of time left until then for plans to change one way or another
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Currently planning on 33, but I'm looking to pull that in to as early as 30.
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Probably 55. Didn't occur to me that anything sub-65 was even an option until I found ERE / MMM. Seriously. No idea why.
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Way to make us feel bad.lol. No ER here, for numerous reasons including late marriage, getting spouse out of debt, one income x 10 yrs, and foster children, but I'm okay with that.
DH will retire at 65 when eligible for Medicare. At the most he "may" work PT for a yr. As far as me, it depends. Sometime between 60-62.
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Around 60, if I can pull it back a bit I will. I can see possibly OMYS coming up since numbers currently improve a lot if its 61 or 62.
Edit: added more clarification
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Was FI at 44.118.
Am now 45.292.
RE set at 46.735 (tentatively).
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FI at 54.5 (the year of my 55th b-day, so will have immediate access to 401k). In federal law enforcement, so could go until 57 (mandatory retirement age) if things went south with the market, but not planning to go a day past Jan. 3, 2020 if I can help it. Older than most "early retirees" around here, but considering 6 years were spent traveling the world courtesy of the U.S. Navy, 4 years were spent in college after that, and then another 3 years in law school, I'll have only had to work in the "real world" for @22 years. Plan to pursue work as a climbing guide after that (i.e., doing something I love).
Wife will hopefully follow at around the same age (55), which means she's got to work another 7 or so years after I reach FIRE.
Life is good and I'm thankful every day for my good fortune.
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49 and ¾’s
2 ½ years away. I currently have 94k in debts and am about to head to Europe for a wedding and vacation with the kids to see family.
The trip has been fully paid for and the 94k will be at 75k by the end of the year with a max rate of 3%
All paid in 2 years and I have a fair bit in 401k’s and ira’s – in 2 years we should have enough to live on with no debts and a paid for house.
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A freshly minted 38-year old. Might even happen on the birthday itself.
Jon_Snow, HUGE congrats on 2 days to go now. How awesome is that?
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Planning on around 28-29 for me, 34-35 for SO
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Obligatory needs a poll.
It looks like I'm gonna blow past my 35 target (although I'll be FI by then)... might be 40 to align w/ wife, but hopefully part time/reduced hours/something else until then.
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Semi retired at 35....self employed.
Fully retire at 45...maybe 50....I will be 40 this November.
DH will semi-retire at 60, maybe sooner...he is 50.
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A freshly minted 38-year old. Might even happen on the birthday itself.
I've also considered quitting on my birthday (coincidentally, my 38th). What a great present to yourself. The only reason I probably won't is because mine sits right between Christmas and New Year's. I'd rather just have my last day before the holiday and call it good.
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I am a bit of an oddball in that I want to be FI but am not sure about RE (ever. i.e., retiring before standard age). I would like to be in a financial position where I can if I need to at any time.
I'll be minimally FI, according to Mad Fientist's calculator, less than 1 1/2 years from now, when I'll be 39.
If I want a 3% WR, then it's a bit less than 4 years, or about 42.
If I want a 2% WR, (for me this is at about $1m), that'll be around 45/6.
The plan, currently, is to get to $1m then pay off the house. Then I'll do, like, whatever.
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Shooting for my 30th birthday. I'm FI already but plan on working a few more years for an additional buffer.
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i plan to be FI by 35 most likely ... probably RE by 38-40 depending on my comfort level
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Obligatory needs a poll.
(https://gs1.wac.edgecastcdn.net/8019B6/data.tumblr.com/tumblr_ltdq1zhMPU1qdiex4.gif)
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Obligatory needs a poll.
#Dunzo
Obligatory "this poll is flawed" comment.
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Good point. What if one never retires?
There's no option for them!
/mybad
//i'll delete the thread and start over
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Question added to this topic.
If your SO is working full time and contributing money to your household and you RE, are you really retired early? To me that is just quitting your job. Unless the SO is working because they enjoy it and/or you dont need their income.
It just reallly confuses me how one spouse can be retired at 30 somthing and the other work fulltime for 20 more years. I view marrage as a team. If one has to work it is greedy for the other to RE. Same goes with crazy spending.
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I will be 50 and my hub will be 55. I have calculated that we could do it at least three years earlier than that but we will see what happens before then.
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Question added to this topic.
If your SO is working full time and contributing money to your household and you RE, are you really retired early? To me that is just quitting your job. Unless the SO is working because they enjoy it and/or you dont need their income.
It just reallly confuses me how one spouse can be retired at 30 somthing and the other work fulltime for 20 more years. I view marrage as a team. If one has to work it is greedy for the other to RE. Same goes with crazy spending.
Your answer is in bold.
If I wanted to ER, and we have enough, but my wife doesn't because she enjoys her job, what do we do?
A) I am forced to keep working.
B) She is forced to quit.
C) It's okay for me to ER and her to keep working.
I think C is fine, but your post seems to say that it's not, so which are you advocating for, A or B?
;)
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If I wanted to ER, and we have enough, but my wife doesn't because she enjoys her job, what do we do?
A) I am forced to keep working.
B) She is forced to quit.
C) It's okay for me to ER and her to keep working.
I think C is fine, but your post seems to say that it's not, so which are you advocating for, A or B?
;)
No, I am agreeing with you. My issue is with the "I am ER but she cant because she has to work" (not for fun but because she didnt save enough). If someone wants to keep working that is cool.
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45 to semi-retire.
or I could wait until 50 and retire completely. Due to compound interest, I've calculated that five years makes an incredibly large difference in terms on how much I can retire with.
It's a sliding scale at this point and I am open-minded to make changes where necessary. I could always go somewhere in the middle.
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Shooting for my 30th birthday. I'm FI already but plan on working a more years for an additional buffer.
FI under 30. Holy cow, good work.
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Shooting for my 30th birthday. I'm FI already but plan on working a more years for an additional buffer.
FI under 30. Holy cow, good work.
Thanks. My situation isn't as impressive as Arebelspy and his rental tycoon but I'm happy enough about it :D
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If everything works out perfectly, 50. I'm guessing it will be more like 52, by hopefully no later than 55 (currently 34).
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I'm convinced I could very safely FIRE at 35 (I'm lucky I liked computers at the right time in history and found caught the FIRE bug 2 years after graduating college). 27 now. But that's only if I wanted to stay in my current job that long. Unfortunately, that doesn't fit with DW or my life goals (if we are going to have kids I'm going to be a SAHD). So things are a little more complicated.
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Currently 24, looking to quit current job at 35, find part time work or job of passion that pays living expenses (but no new savings required) until 40 or 45. Then it's happy hour for the next 35-55 years :-D
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Question added to this topic.
If your SO is working full time and contributing money to your household and you RE, are you really retired early? To me that is just quitting your job. Unless the SO is working because they enjoy it and/or you dont need their income.
It just reallly confuses me how one spouse can be retired at 30 somthing and the other work fulltime for 20 more years. I view marrage as a team. If one has to work it is greedy for the other to RE. Same goes with crazy spending.
Your answer is in bold.
If I wanted to ER, and we have enough, but my wife doesn't because she enjoys her job, what do we do?
A) I am forced to keep working.
B) She is forced to quit.
C) It's okay for me to ER and her to keep working.
I think C is fine, but your post seems to say that it's not, so which are you advocating for, A or B?
;)
Well let's say I'm Single and retire. Now I get married... I have to go back to work? Or say I'm 1 year out from FI and I get married... Now I'm 10 years from retirement? No thanks <- guy who saved significant cash towards retirement before marriage.
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No, I am agreeing with you. My issue is with the "I am ER but she cant because she has to work" (not for fun but because she didnt save enough). If someone wants to keep working that is cool.
It could be both. Your spouse sees no point in ER and thus does not prioritize saving her earnings for ER. She might retire if a giant bag of cash fell on her head, but it's not worth sacrificing for.
You, on the other hand, want to retire and do so when your passive income is equal to your share of the expenses. I don't see a problem with that scenario at all.
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Could also be separate finances. Could be a substantially older spouse.
Or a FIRE plan that hinges on 2 separate pensions that kick in a few years apart. Wife is 5 years older, started work 4 years earlier, and qualifies for pension 4 years earlier than husband. 1 pension covers 65% of FIRE, 2 pensions covers 130% of FIRE, first to qualify for their pension has no incentive to pad the numbers.
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Well let's say I'm Single and retire. Now I get married... I have to go back to work? Or say I'm 1 year out from FI and I get married... Now I'm 10 years from retirement? No thanks <- guy who saved significant cash towards retirement before marriage.
It's something to discuss before you get married.
I personally, yes, would go back to work to get both us us FIREd if she wanted to FIRE ASAP but wasn't yet there. If she was frugal (or became so) and dedicated to FI, as a partner I'd work to support both of us becoming FI.
If you wouldn't, okay. Like I said, it's between the couple. They should figure it out.
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No, I am agreeing with you. My issue is with the "I am ER but she cant because she has to work" (not for fun but because she didnt save enough). If someone wants to keep working that is cool.
It could be both. Your spouse sees no point in ER and thus does not prioritize saving her earnings for ER. She might retire if a giant bag of cash fell on her head, but it's not worth sacrificing for.
You, on the other hand, want to retire and do so when your passive income is equal to your share of the expenses. I don't see a problem with that scenario at all.
[/quote]
All relationships are different. I dont see it as my part of the expenses and her part. They are our expenses. Maybe its fundamentally the difference for me, I see it as team. How can only one spouse have tons of passive income? If im married for 10 years and grow a portfolio that has a return that matches my salary it isnt "mine".
Sorry wife, should have been investing your money better. Oh, you dont make that much and took time off to raise our family. Too bad, should have focused more on your career and getting a job with matching 401k and stock options.
Unless they go into the marriage with tons of money, then I guess that is a different story. But, I would like to see a guy explaining to his fiancie how he is going to hang out at home and live off dividends while she goes and works at the pet store for 30 more years.
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In our case, DH is 11 years older than I...has an ex-wife and has two sons, so child support and college has to be paid for the next 4 years. I was already semi-retired before I met him and was on track to retire fully at 45. We have also bought a house and splurged for a few nice things/experiences in life while on track to meet our goals in the next 10 years. We talked about all of this prior to marriage and he is well aware that I will never, ever, ever step foot in a cubicle farm ever again! We have a three step plan for retirement which includes moving to a lower cost of living area, paying cash for the new home, and having enough cash on hand for 6 years before he takes his social security. We also plan on working part time doing what we love....he builds furniture/restoration and I am the glazer/stainer/painter and a massage therapist. We will always make money ;)
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Unless they go into the marriage with tons of money, then I guess that is a different story. But, I would like to see a guy explaining to his fiancie how he is going to hang out at home and live off dividends while she goes and works at the pet store for 30 more years.
You've got quite the straw man there. Let me break this situation down into something realistic. My wife has a low paying job which she loves. She has no desire for ER. She already does the thing she would do if she was free to do anything in the world, and going to work each day gives her structure which she thinks she needs. I work in a high paying, high stress job which requires long hours. I will quit when my income can be replaced and do other things. I highly doubt those things will involve lounging on the couch and eating cheetos.
Everyone is different, but my wife can't wait for this day. She's looking forward to a happier me who is able to take care of the bulk of the house work, travel with her in the summers, and make it to our children's activities. We will, of course, ensure that we continue saving enough that she too can retire early (by conventional standards) if she chooses.
All this is a joint decision. It doesn't require us to keep separate staches, be less of a team, or have agonizing conversations about what is hers and what is mine. YMMV.
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I'm shooting for FIRE in 10 years. That would make me 34 and my wife 31. I would love to cut that back a couple years but I think we are already stretching it a bit with that goal.
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Well let's say I'm Single and retire. Now I get married... I have to go back to work? Or say I'm 1 year out from FI and I get married... Now I'm 10 years from retirement? No thanks <- guy who saved significant cash towards retirement before marriage.
It's something to discuss before you get married.
I personally, yes, would go back to work to get both us us FIREd if she wanted to FIRE ASAP but wasn't yet there. If she was frugal (or became so) and dedicated to FI, as a partner I'd work to support both of us becoming FI.
If you wouldn't, okay. Like I said, it's between the couple. They should figure it out.
Yeah, this is interesting to think about. I'll FIRE by 33 (I have no desire to work in an office any longer than I need to), but I'll most likely still be single by then - let's face it, I have no experience with women and I would need to somehow get motivated to make that change. But I still wouldn't mind having kids someday - what if I get married and need to go back to work? I guess as I'd be FIRE'd myself minimum wage even would be enough, I'll have to give it more though.
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Well let's say I'm Single and retire. Now I get married... I have to go back to work? Or say I'm 1 year out from FI and I get married... Now I'm 10 years from retirement? No thanks <- guy who saved significant cash towards retirement before marriage.
It's something to discuss before you get married.
I personally, yes, would go back to work to get both us us FIREd if she wanted to FIRE ASAP but wasn't yet there. If she was frugal (or became so) and dedicated to FI, as a partner I'd work to support both of us becoming FI.
If you wouldn't, okay. Like I said, it's between the couple. They should figure it out.
http://www.youtube.com/watch?v=9X_ViIPA-Gc
But seriously, nobody I'd want to marry would ask this of me. That doesn't mean I wouldn't do it.
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I used to work with someone that said her husband was retired but she couldn’t retire yet. I really didn’t understand this either. I got the feeling he was older and made it big at a startup and maybe they got married later in life (where then mine vs. ours stash might make more sense).
I view marriage as an equal partnership. In my view, you can’t retire until you both can retire. If one wants to continue working, then that’s fine and it’s between the two people to decide.
I view marriage as such a complete partnership, that I couldn’t imagine separate finances this way where one is able to retire and the other not. I guess that’s why I’ve never been married though. I haven’t found someone I could have this level of trust in. That’s why I am happily single. But I really would love to be able to find someone I can partner my life with.
I agree with arebelspy. Although I am close to FIRE, if I decide to marry someone I would view their inability to FIRE as an emergency to be taken care of as a team.
I suppose at this point in my life I may not marry as I would really have to find someone I’d want to give up FIRE for if it came to that.
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Right now I am 23, single, and am a entry level employee. I am on target for 40, but that is not getting married, no change in spending (which is falling), and no raises ever. So...I have no idea.
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To answer the question: I plan to FIRE some time between 45 (now) and 50.
I'm close enough, it's workable, but I'm a buffer kind of girl. I don't think I have enough buffer yet. But if I get laid off and can't find work, I will make my FIRE work one way or another. My parents are having a lot of medical issues lately and they are in their 80s so it might be nice time to help them out as I did during my last unemployment stint.
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I suppose at this point in my life I may not marry as I would really have to find someone I’d want to give up FIRE for if it came to that.
I see a demand for a FIRE dating site.
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I suppose at this point in my life I may not marry as I would really have to find someone I’d want to give up FIRE for if it came to that.
I see a demand for a FIRE dating site.
http://forum.mrmoneymustache.com/personals/
(Hi Daisy! :-) )
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We're 31 now, no kids, with a net worth of about $300K. If everything goes to plan, we'll be technically FI when we're 40, but because we want kids and I just want more of a safety net, one or both of us will probably work until mid 40s.
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Question added to this topic.
If your SO is working full time and contributing money to your household and you RE, are you really retired early? To me that is just quitting your job. Unless the SO is working because they enjoy it and/or you dont need their income.
It just reallly confuses me how one spouse can be retired at 30 somthing and the other work fulltime for 20 more years. I view marrage as a team. If one has to work it is greedy for the other to RE. Same goes with crazy spending.
Your answer is in bold.
If I wanted to ER, and we have enough, but my wife doesn't because she enjoys her job, what do we do?
A) I am forced to keep working.
B) She is forced to quit.
C) It's okay for me to ER and her to keep working.
I think C is fine, but your post seems to say that it's not, so which are you advocating for, A or B?
;)
Well let's say I'm Single and retire. Now I get married... I have to go back to work? Or say I'm 1 year out from FI and I get married... Now I'm 10 years from retirement? No thanks <- guy who saved significant cash towards retirement before marriage.
THIS.
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I suppose at this point in my life I may not marry as I would really have to find someone I’d want to give up FIRE for if it came to that.
I see a demand for a FIRE dating site.
http://forum.mrmoneymustache.com/personals/
(Hi Daisy! :-) )
I wish the personals section had more traffic. Sausage fest much? :)
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Ten years from now... age 42
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I should be FI at age = 28. I will likely continue working until age >= 32. I see myself taking extended leaves of absence or changing jobs, rather than quitting my career.
I am currently single. Wife/kids could significantly change that outlook.
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Complete shot in the dark?
40.
But I'm young enough that a whole ton of things can happen until I'm 40... :)
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50. I think. It's a guess, a number I picked because it sounds do-able, but I don't think I'm really at a point to know for sure.
I don't make a lot, neither does Mr Tofu. We're expecting a baby in November, after which I will only be working part-time. We spent the last 30-ish years (I'm 31, he's about to be 29) being pretty damn stupid and unMustachian, so we have a lot of debt to pay off before we can really focus on saving & investing. Besides that, he doesn't really "get" the whole Mustachian thing, and has been resistant to make major changes. He is coming on board, but it's a very slow process.
Honestly, I think we could be rid of our debt in 5 years, and be FI in another 10 years, but a lot of it depends on being able to increase our income, and him being fully committed. There's only so much I can do on my own, making $11/hr.
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Dunno. If we gave up the expensive hobbies we could retire now (40). At age 42 we can keep the hobbies (with moderation). 45 and we're golden. However, I do enjoy what I do. I'm *planning* on going to 55 at full-time, then possibly switching to part-time.
The wife is part-time now (due to lack of local work, she'd LOVE to go full-time but there's just nothing around here). Her plan involves trying to work full-time until 65+. Crazy extroverts. :-)
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I love my job so I will never retire. However, my wife's job negatively impacts our opportunities for extended travel. As a result, the plan is for my wife to retire in 10 years at 40. I will be 45.
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I voted 50-55, 10-ish years from now, but that's a total shot in the dark because my income is quite variable year-to-year. If I have another couple years of windfall earnings, that timeline could change significantly.
Right now I am sole breadwinner while he is a SAHP. We're liking this arrangement and may well keep it up until both kiddos are in school - but that kind of depends on whether DH continues to like being home w/ kids.