Lately I have been thinking more and more about my retirement. Now im wondering if other people my age are putting thought into when they will stop working. I currently have a fairly decent engineering career, but can't stop thinking about the time that I'll be able to enter a quasi retirement state. Has anyone else set goals for when they want to be free from full time work? I've been aiming for a rather agressive retirement from my full time engineering work. My main driver is my time. I would like to be able to spend most of my time with my kid(s) as they enter school age. My goal is to leave full time work when im 32 years old (Donovan would be 4 and a half). This doesn't mean I would stop making money, I would just stop working a regular 9-5. I would still be working my own business or possibly in an engineering job part time if there was a great offer.
I've heard a lot of analysts saying that $1M is no longer enough to retire on. Personally I figure that $1M is way more than enough to retire especially if you are even remotely adept at investing. Combine good investing and streamlined living expenses and one could retire on a fraction of $1M. Perhaps its just my poverty-stricken adolescence that has influenced me in realizing that I don't need much money to get by.
At any rate, I've set my goal and hope to reach it.
-Brad
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3 comments:
I was just wondering if other poeple my age are thinking about it or if its so far away that no one is actively planning for it. Sounds like you've thought about it and passively saving for it.
I'm thinking about it, but I'm intimidated. I won't be able to retire for quite a while.
I plan to retire at 55, to be paid 75% of my final salary for the rest of my life. I just have to continue to be a govt worker for the next 27 years. I think Brian is going to get to be the home-business part-timer in our family.
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