Bill, I think the answer lies in how you lived before you retire. If you lived within your means or under, you will have no problem assuming you built up a 401k or the like. My savings when I retired was maybe 12 times my annual income. Six years later I have more than I started with, after taking out 5% annually. That's with minimal risk mutual fund and bond investments. We certainly haven't had to give up anything and have more fun money then ever. It's a scary time when you are planning to retire but my experience so far has been great from all aspects.

 

I retired at age 60 ........ actually I was made an offer I couldn't refuse: Either take the offered buy-out or stick around and possibly and quite literally end up in Outer Mongolia [or some other such place] for a few years. Since herding Yaks and living in a Yurt didn't look very attractive and the financial guy I went too said: "Go for it", I took the buy-out and never looked back....... best decision I ever made. Why? Every few weeks, guys and gals my age who are still working, are dropping dead and never getting to enjoy even a little bit of retirement.

 

I probably won't retire for another 10 years or so, just because I'm still enjoying what I do for the most part. Also, the +1 is at the peak of his career, which means DC is home for another 10 years at least. I have a good retirement, along with an investment portfolio and my condo, which is my biggest asset.

 

Probably not, I enjoy what I do too much. It keeps me mentally engaged, provides me with a sense of contributing something meaningful, and prevents me from becoming a total hermit.
Should the day ever come that I no longer enjoy it and it starts to feel like a job, then it'll be time to quit.

 

It'll be a while at least. I plan to retire when I'm eligible for Social Security if everything else pans out (so far so good).

My biggest concern is health insurance. For those of you who have retired what have you done in addition to Medicare to address this issue?

 

We'd love to retire. It won't be before 10 years time though, could be longer.

The cost of health insurance is a huge factor, along with other issues.

I think I'd still need something part time to keep me occupied. I need to have structure.

 

I would like to think in 10 years I will have to retire or go totally insane. My financial goals are as much as I can possibly save in a 403b/401k before I go into some type of semi retirement. If I find something I like for a couple of days a week, I will more than likely do that. I am not so sure I want to retire full time. I am sure my hobbies could keep me busy but they take $$$$ and sure as heck my social security will not even come close.
Since I have a skill that only requires a table, a chair and a computer with the right software I could always do something from home, or a small part time job. As long as my body allows me to do so.

 

S2ki isn't enough?

 

No, almost, but not quite.

 

Dave, not to brag, but my means are fairly significant. If and when I retire, the first thing to go will be the big house. It is very expensive to maintain and I just don't need a six bed room house any more. A 7 room, three bedroom house with a family room/study would be enough for Barbara and I. One of my biggest problems is trying to figure out what my monthly expenses would be in a much smaller house.