Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Tell It Right
Don't forget the massive boomer generation being ready to retire.

I'm in that bucket myself. I'm nearing 60 and finally have all my ducks in a row with enough savings to last me 30 years at 80% my current income (not including Social Security which should plug that gap nicely along with any part-time work I might want to do for fun).

I'm not worried about running out of money at 90. I figure if I make it to 90, I'll be sitting in a rocking chair on the porch all day reading books from the library so I won't need much then anyhow.

But I'm willing to go another 10 years. If I make it, I'll have 40 years of full income whether or not Social Security is even around. But no way will I live to be 110 so in that scenario, I'll be leaving a bunch of money for the kids.

So my kids at least are rooting for me to work 10 more years!

52 posted on 06/08/2021 1:35:59 PM PDT by SamAdams76 (Give me a Pigfoot and a Bottle of Beer)
[ Post Reply | Private Reply | To 5 | View Replies ]


To: SamAdams76
"I'm in that bucket myself. I'm nearing 60 and finally have all my ducks in a row with enough savings to last me 30 years at 80% my current income."


Way ta go!!


If I may make a suggestion (as someone else posted on this thread), be sure to account for inflation. Income that's good enough now won't be good enough in 5 or 10 years. So I hope that what you called "savings" is really investments that grow fairly well, even if a portion of the investments are in relatively safe funds to handle market downturns.

53 posted on 06/08/2021 1:49:12 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
[ Post Reply | Private Reply | To 52 | View Replies ]

To: SamAdams76
"I'm not worried about running out of money at 90."

I retired at the end of 1994 at the age of 51. My experience is that it's a lot cheaper/easier to live at this age than they said it would be. I'm in good health for 77 too.

55 posted on 06/08/2021 2:17:11 PM PDT by blam
[ Post Reply | Private Reply | To 52 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson