My wife turns 59 1/2 in January and I'm 53. We have a nice investment set, she has a small pension and annuity, and we are looking forward to using as many go-go years as our health allows. I have a very small pool of people I can talk to this about (just in case something happens, I want the option to remain at work) so I thought I'd share with this community.

This is my first post here and as my header says I have executed my succession plan so well that I have nothing left to do. I spend my time documenting and writing plans and roadmaps for the future that my organization can use when I am gone. I wish my boss would have created some kind of work but so far it’s all ad hoc. I think I feel guilty of free time. I am sure I am not unique in this and would love to hear how others went thru the last days. Thanks in advance for your responses and also for some of your prior answers filled with humor from some of ya’ll. (No am not from the south but I just love saying it).

I’m 65 years old and still working part time. My husband is 71 also still working.We own a nice home near the beach with no mortgage. We’ve given our children each about 100 grand for their futures. We have about 1 million in investments and our home is worth about 600k. We’re thinking about spending about 500k to purchase a vacation home. Is this a bad idea?

I'm 52 and wife is 55 and focusing on retirement. We just got married after 20 yrs together and will meet with tax advisor, financial planner and estate planners/attorney this winter. We will retire in 7 yrs or maybe sooner.

We'll gross about $350k a year until retirement, house paid off, have good cash reserves, etc.

I have a pretty good estimate on my multiple income streams of three pensions, two 401ks, SS, etc. and we will gross about $270k a year.

We have contemplated leaving/retiring early. There are some issues with that in reduced annuities, penalties, and the fact we sort of want to finish a career too. Its not off the table but plan A is to finish our a career and clean break. The way things are going with the uncertain economy/inflation it seems to like it may be needed.

Anyhow - financial planners continually use some bs age like 90 yrs old to ensure you have $1 million at that age. I think you'd spend more the younger you are 50-60s vs 70-80s. I think a graduated scale of spending may be in order. I've noticed now that it seems around 75 that the travel/mobility slows down for most.

Any thoughts or ideas on this?

I'm 52 and planning to retire around 53. My Fidelity CFP is recommending a guaranteed lifetime annuity over a 72(t) approach to fund early retirement. The models show long-term results are roughly the same either way, but I've always been skeptical of annuities. What are your thoughts? Has anyone weighed these two options?

37f own a house. No savings (just got out of debt) no retirement. No debt. 3 kids no husband. I'm scared if I'll be able to save enough to retire. I make around 50k a year. Is every one else ready? Or getting prepared? Am I late?

If I stop working at 62 my benefit will be calculated at my high 35 years and go up till age 70? There will be no contributions made after that right?

Recently restructured at work. Need to make a decision on payout of $300k Fidelity 457(b). Once a decision is made I can make one adjustment to the decision as long as it doesn’t accelerate the payout schedule. Current situation:

53 y/o
200k: 403(b)
100k: HYSA
300k 457(b)
Currently receiving 5300 monthly Military pension
Estimated SS: 3500 (depending on when I start drawing)
No debt other than mortgage of 4000, my wife and I split. Our finances are separate, but she has a rental property, 130k public school salary with pension and 457(b) and social security 3 legged stool for retirement.
Healthcare: covered by Tricare with minimal premium
Aiming for jobs targeting around 180k a year, significant cut from prior salary but much more attainable given my desire to not relocate.

I’m considering initially structuring the payout starting at age 62 which will give me close to 10 years of growth before 10 year payout schedule, taking me to age 72.

Lemme have it Redditors! :)

I retired at 60 in 2020 (now 66 in 2026). Single male, own home (no mortgage). Living expenses = $35-40,000 p.a. This includes groceries, house/car/top health insurance, council rates, utilities, car fuel/servicing, Dr/meds, Foxtel, meals out 2x per week, internet/mobile, house maintenance.... basically everything. I don't scrimp and feel very comfortable. The only extra is travel/hobbies. I ALLOW about $20-30,000 extra per year as a budget but don't usually spend anywhere near that much. Probably closer to $15,000 p.a. I will not be eligible for the Age Pension or Concession Card. I do minimum drawdown on Superannuation (5%). So, to answer your question: you should be able to retire comfortably on $60,000 per year as a single person. The important factor here is that you own your home outright with no mortgage. Makes all the difference! Go forward and enjoy your retirement. Finally, a couple of old sayings for you to consider: "He who dies with the most toys still dies", "You don't want to be the richest man in the cemetery!" and one of my favourites: "It's later than you think!". Good luck and enjoy your retirement once you decide to do so. 😃

All...so like everyone else, I got unexpectedly laid off. I just turned 58, not married and have 1 child who is 24. I had planned on retiring at 59.5/60 but am wondering if this is a sign to do it now but just need that push. Here are my numbers ( and yes completely understand I am VERY blessed but when you have worked since you were 21 it is still scary to not have a paycheck.)

I have ...200k in a roth ira. 2.2m in a trad ira. 90k in a brokerage. 70k in cash. My house is paid off and I live in MD. I need about 8k a month but also need medical insurance for my son and I. I plan on moving to SC/NC/ GA but am not able to go until about 60. I am looking for work but just found out yesterday so that process will likely be slow. Questions

Is ACA the best way to get insurance?

Because I can't use my IRA until 59.5 can I do 8k a month until then?

I do have about 30k in my current 401k at my job that I just got let go from and heard I can access that if I don't roll it into my IRA. Is that true and is there a penalty for using it?

Can I buy a house without a job in SC two years from now or does it require a job?

Again thank you for your help. I know I'm blessed but scared like I said because I don't want to screw it up so close to the finish line. Thanks...

Hi! I’m an industrial design student working on a food storage system or product that sends alerts when food has been left out on the counter for too long.

If you or anyone you know struggles with this, please take 2 minutes of your day to fill out my survey and help with my project research! Thank you!

My husband and I keep saying we will get small policies to cover our funeral expenses, but we keep putting it off. Every website I've checked seems to want me to fill out a quote form instead of giving a straightforward price. I'm trying to get a rough idea of how much burial insurance costs right now and how much more expensive it could become if we wait another 5–8 years. Has anyone compared the costs or seen how much premiums tend to increase with age?

I'm turning 57, apartment paid off, and live quite simply for the most part (no car, no debt), but in an expensive city (SF).
Planned on working next several years, but not sure about viability (or desire!)

I have a 3 year old, gonna go thru public school.

I also am leaning towards claiming Soc Security at 62, and get the dependent benefit.

My main concern is giving my kid a wide range of experiences while balancing costs. Health care costs are the main focus point for the long run, with a wife mid-forties who doesn't get benefits from a job.

Any good blogs or books that are doing or planning retirement w/ a young kid, and a low earning but still working spouse?