I have learned what not to do from all of them.
I am so curious whether we are on target with everyone else. Thanks!
Some people do. Nothing wrong with working.When I ride the bus to work it is seeing the 70 and 80 year old people still commuting to the office every day. Do you really like working that much?
Many do. My dad after his heart attack was basically told by his Dr. him staying at home would kill him. My dad NEEDED work. Sitting at home would have killed him. He reduced hours but worked until the end. Still had time to do other things. No regrets.Some people do. Nothing wrong with working.
I know a lot of extremely rich people in Orlando. The richest guy I knew and most people would know who he is in the area died of old age in his sleep and he worked the day before. He had a nurse drive him to work and stay with him at his office. I know several people who could have retired many years ago but continue to work.Many do. My dad after his heart attack was basically told by his Dr. him staying at home would kill him. My dad NEEDED work. Sitting at home would have killed him. He reduced hours but worked until the end. Still had time to do other things. No regrets.
I have a nice office job. See myself reducing hours and continuing to work. Now if I had a job that was physically demanding that it is a totally different story
I agree with the PPs--half a million isn't going to go real far, unless you have a nice pension. Health care is the biggest question mark--better to over-save than not save enough. Luckily for us, we're in good shape.
When I ride the bus to work it is seeing the 70 and 80 year old people still commuting to the office every day. Do you really like working that much?
Some people do. Notphing wrong with working.
Just want to add that I believe you guys here on the DIs are an exception to the rule. I know of no one that retired with maybe more than 100,000 in savings including their 401(k). Everybody I know, Including myself in the future, Does not or will not have close to 500,000 date for their retirement. You guys must’ve been making a lot of money over the years, had a great companies that matched very high and an advantage of great years in the stock market. Most people I know of by the time they retired have their house paid off and have a pretty good amount of Social Security (2000-2500) plus a pension. At some point Medicare kicks in so those costs go down. that is enough to live off of pretty well. Granted at this level able you may be pushing it if you plan multiple Disney trips a year (Deluxe level) and DCL concierage.
https://www.google.de/amp/s/www.bankrate.com/retirement/average-401k-balance-by-age/amp/
Link shows average 401k by age. Conclusion many here on this board are doing well, beyond the average american, who seem to be getting by without 500g
For a lot of American it takes 10 years to even make 500,000 and saving 5% will take a long time. And yes I know about rolling capital gains, interest whatever, how things can grow if you start young. a goal of 1 million is not easy to reach ( impossible really in managed funds) if you’re making a medium income
Don't feel sad for me! I am 50 and plan to keep working as long as I am healthy and happy. Granted, my full time job allows me about 4 months off, so there is time to travel and pursue other interests, but I find working outside the home fulfilling. I stayed home with my kids for 5 years and it was great, but this is my time to do what I want. If things change, I will retire and find volunteer work.That is so sad- I can't even imagine working a full time job at 55 never mind at 70.
I know a lot of extremely rich people in Orlando. The richest guy I knew and most people would know who he is in the area died of old age in his sleep and he worked the day before. He had a nurse drive him to work and stay with him at his office. I know several people who could have retired many years ago but continue to work.
Over the years I've seen a lot of people come in to the hospital with major health problems shortly after retirement. I've often wondered whether it's better to retire earlier, or to keep working! I do know from the many patients I care for that there are many who continue to work after traditional retirement age simply because they like what they do and enjoy getting up and going to work, and there's nothing wrong with that. One lady I remember was well into her 90s and was pushing us to finish things up so she could go get an award she was receiving for continuing to serve the children of the city the next day (which she did!). Some people just want to stay active, and in many cases, it's probably mostly a good thing. If one HAS to work to pay bills and it causes a lot of stress, then that's probably not going to be good for health and wellbeing. My DH's grandfather continued to work as an accountant for his long term clients well into his 90s, by choice. We believe it kept him young.That is so sad- I can't even imagine working a full time job at 55 never mind at 70.
When I ride the bus to work it is seeing the 70 and 80 year old people still commuting to the office every day. Do you really like working that much?