What age do you plan to retire?

[Leilah]

Hi Alex

Thanks for your words of encouragement.

I think that investing is pretty important, as I believe in having something to fall back on and plus I want all my kids (present and future) to be able to attend private schools like I did. It would also be great if they had something good to inherit from me, when I pass on, not to mention allowing hubbie to retire (as previously mentioned).

Sometimes people are so focused on investing that they forget to look at the quality of their lives and check whether they are enjoying the here and now. I reckon that while it is so important to plan for the future, it's also important that we all do a check on what we are doing with our lives today to ensure that we are happy.

cheers

Leilah

 

[JamesGG]

Hiya,

I'm aiming to be in a position to retire by 30, if I choose to. Chances are good that I won't, as by that stage I will be working for myself anyway and will probably want to be involved in my businesses in one way or another.

And like Alex, in many ways I would simply be replacing one form of occupation (accounting / business management) with another (full-time investing).

Current predictions are looking good for just prior to turning 28. But that's crystal ball stuff so I am not booking any flights just yet.

Sometimes people are so focused on investing that they forget to look at the quality of their lives and check whether they are enjoying the here and now. I reckon that while it is so important to plan for the future, it's also important that we all do a check on what we are doing with our lives today to ensure that we are happy.

Leilah, that's brilliant! Could not have said it any better myself. Awesome stuff.

Cheers

James.

 

[Jase H]

I'm 33 ATM and wife (Poppy) is 29.

Plan is for wife to work until she is 34 and me to work until i'm 42.

should be able to achieve that and probably sooning a suspect.

Jase

 

[BayView]

I'm assuming HA888 is saying with a 1.25m term deposit, he would get around 90k of interest, and he would only spend say 60k. The rest gets put back into the term deposit to allow for inflation.

Though I personally don't think like that. We use shares and property to build wealth faster than by just saving money into a bank account. What would possess us to suddenly say 'let's sell all these great assets which have been returning far more than cash, and put it all into a term deposit'?
Alex

I think it comes back to that industrial-age brainwashing we all got as kids about how money was safe in the bank.

WRONG!!!

 

[markp]

I do not intend to retire. Retired people tend to die young. I still want to be around in my 90's even if it is just to annoy people

 

[alexlee]

I think it comes back to that industrial-age brainwashing we all got as kids about how money was safe in the bank.

WRONG!!!

Precisely. It's like someone who is used to driving a sports car. Are they likely to suddenly change to a little 1.5L because with careful use it'll last forever?
Alex

 

[Jase H]

I do not intend to retire. Retired people tend to die young. I still want to be around in my 90's even if it is just to annoy people

The above is incorrect if the research study which I read a while back was valid.

Basically, For those persons retiring at traditional retirment age of around 60 to 65 the stats were horrendous a very short post retirment life.

However, the younger one retired the longer they lived. period. The extreme case was those retiring very young say around 40 were expected to live until around 90, whereas those retiring around 65 were lucky to see 67!

Jase

 

[alexlee]

One assumes there's a difference between people who retire because they choose to do so, and presumably have greater resources than ordinary people, and people who retire because they are FORCED to (as people who retire at 65 often are). If you are forced to retire, you don't know what to do with retirement, so you're more likely to die young.
Alex

 

[Jase H]

Alex,

I'm sure what you say re. having 'choice' is a major component, albeit difficult to measure for a study such as the link below:

http://www.helium.com/tm/700613/common-objection-retirement-planning

Jase

 

[markp]

The above is incorrect if the research study which I read a while back was valid.

Basically, For those persons retiring at traditional retirment age of around 60 to 65 the stats were horrendous a very short post retirment life.

However, the younger one retired the longer they lived. period. The extreme case was those retiring very young say around 40 were expected to live until around 90, whereas those retiring around 65 were lucky to see 67!

Jase

40 is young,65 is young,and 67 is too young to die thats what I said

 

[Jase H]

And then there's this . . .

http://news.bbc.co.uk/2/hi/americas/4726300.stm

Imagine 'having to' work until 85!

Good reason why we are all on the road to financial freedom, so the likes of some can 'choose' to work till that age, as for me 'no thanks'

Jase

 

[markp]

And then there's this . . .

http://news.bbc.co.uk/2/hi/americas/4726300.stm

Imagine 'having to' work until 85!

Good reason why we are all on the road to financial freedom, so the likes of some can 'choose' to work till that age, as for me 'no thanks'

Jase

Interesting but the word work was not mentioned once in the article. Hopefully by the time we get to 85 we wont be doing very much. Unless,of course we are still part of the "working families brigade".

 

[BayView]

The lady who lives in the apartment below us (she's on the ground floor) is 93. Still drives a car.

She was a writer, and is still writing. Does excellent children's stories.

I used to work at a very exclusive Golf Club where many of the male members were older (past retirement age), but still working in their own businesses.

From my observation, they were working because they wanted to; they certainly didn't need the money.

So, I think the difference is working because you want to; not because you have to.

I know that I will need to keep occupied well after retirement age, assuming the health allows it, so I guess the retirement factor is purely about choice.

I want to get to the point of having choice as soon as possible.

 

[Rickardo]

I would like the option of retiring from full time work by the time i'm 40. As others have said, i'm not the type of person who could sit at home doing nothing all day for the rest of my life, so i suspect i would just shift my time to more interesting opportunities.

If i continue doing what i'm doing i think i'm completely on track to reach my goal, still have 16.5 years left!

Hi,

Following on from recent threads asking what age people got their first IP, I wanted to ask what age do you plan to retire and are you on track to reaching your goal?

Oh, me first, I plan to retire before the end of next year (I'll be 30) and I am on track and very much looking forward to it.

-Ian

 

[myviolet]

lucky for those who can retire at the year of 40
i plan to retire at 70

 

[alexlee]

Think bigger, Tony. Seriously. You can't achieve a goal unless you can imagine it first. Aim high, aim big. Even if you don't make it, you'll do better than if you hadn't aimed that high.

I'm guessing you're in your 40s?
Alex

 

[myviolet]

Hi Alex,

you're right, i noticed that you live in Sydney, i live in Sydney too,
i'll PM you later on , i need your own advice on investment.
cheers

Tony-Sydney

 

[Francine]

how much do you need to retire

ok i've got a few questions.

so how much do you need in ips to retire?

and how long could it take to accumulate that if i'm just starting.

i do have alot of equity
but not relaly much income or secure income.

i'm raising kids so on sole parent and child support at present.

changes will be occuring with that in the next 3 years.nevertheless i am on my own and probably wont get too high an income even if i did work sometime in the next few years.

I also dont like things too risky as it took me decades of challenges to accumulate what i have .

cutegal.

 

[Xenia]

I replaced the income from my profession with income from my investing portfolio at age 33. I would hardly call that retirement however!!

You need to keep a keen sense of working hard as a property investor, continous education, long hours, enthusiasm and goal planning! This is not the time to be retiring!

 

[Simon]

lucky for those who can retire at the year of 40
i plan to retire at 70

I doubt anyone who has achieved early retirement would call it luck.

Except maybe in my case but mine was bad luck ...

I guess your plan will be easy enough to see come to fruition. Why not plan for something a little better? Your mindset is possibly your biggest obstacle.

Cheers,