Ideal retirement age

I did it last year at 52. I could have gone out 5 years ago..but it would have been too early.

 

I think the secret to a long life is loving what you do every day ie waking up and being excited about the day ahead - whatever that may be. In my case, I'd love to be flashpacking around the world and on an endless road trip.

Ironically I may be in a position to do that financially in a few years but with a family and school aged kids, I'm anchored.

As for the ideal retirement age - ASAP, the younger the better.

 

My plan is 45. Bought my first place at 18 (now 29) and so far projections should see me there. 48 at the worst.

 

53. Plan was 55

 

Then you die at 58....

my dad loved his job , retired at 80 and died at 93

the reason those people died at 68 is they had nothing to do . Nothing to do except play golf and you can only do so much of that ( assuming you actually like it .... )

retiring isn’t something I’m looking at . I’ll probably work part time and then emerge myself in other activities , take regular and longer holidays , but “ retire “ ?

never . You need to keep your brain and body active .

cliff

 

My father died @ 65 ( stroke ) didn't get to retire , my 2 other close friends father's also died the next 12 months after mine also 65 and still working . I'm retired 62 because of medical issues its been 2 years but one thing I know for certain now is Melb is not the place to be retired unless you like sitting indoors for very long periods until the good weather returns .

 

So true. That’s why Melbourne s coffee and tea are so good. You’ll need them all year round!

 

Totally agree. I’m in that position now. More so not looking for a promotion so no sweat at all!

 

Was it the PhD thing? The universities are very good at telling people they are under qualified so to get a young and over qualified replacement…

 

Anything prior to 67 would be early. ideal is 18. Anything in between would be good though.

 

Holding problematic IPs and financing headaches will keep you busy haha.

 

Wow! I was thrilled just by reading about your adventures! Sorry to hear about your Mom’s passing. Re. running out of things to teach the guitar lessons, you can always self taught ballet and who knows what sort of middle agers might be your followers.

Re the university, you should have asked for a 2 or even 5 years contract. They are desperate, it’s your turn to get even. For making money for them, teachers are more important than researchers.

Anyway, thanks for sharing. So much more interesting to read than evaluating properties!

 

A quick read of this:

What Is Music Theory? - dummies

and you'll completely own this.

 

Paid down alot of debt in last few years and aim to be close to debt free when we retire though we have a LOC on house so might buy one every so often for interest .

I've seen first hand how people ( 99 % ) will struggle to manage their affairs at some stage if hey get old enough , but still got a few years to go . Mum made 98 and Dad 93 and they were very competent till their late 80's ( mum 93 ...) . Good genetic background helps .

Cliff

 

It really depends - I was financially ready at 35 but have since learned that I am the type of person who will never really retire.

Done the gardening, ancestry, renos, travelling (lap around Oz / time overseas) thing. It all gets old.

Having the option to quit / retrain to whatever I want to, to be with loved ones in any crisis - priceless.

 

noticed this post was Feb 2020….

lots of things have changed in the world and now I’m looking forward to retirement ( though not sure when it will be total ) I’ve cut down to 3 days a week and might be trimming that soon . Once our next NDIS property is finished we can move into a very comfortable retirement . Reality is we can retire now and we’re watching our cash flow at the moment to see if we can pull the trigger sooner .

Why the change ? Covid .

GP . Thought about this a lot over the last two years . As a Dr you always know some people don’t tell the truth and accept it , knowing the person who is at risk is the person themselves , but Covid changed that and the person who is at risk is myself and other people and those people who lie don’t give a s... It’s not 1-2 % . Probably 10-20 % so it occurs more than once every day . I’ve been abused and threatened bypatients AND a fellow Dr ( more than once ) and I was totally underwhelmed by the response to that by certain people who are important in my daily working life .

why did that happen ? Because I took Covid seriously and wanted to follow the recommended guidelines and other didn’t … until they were personally impacted ( relatives dying etc )

Next birthday 65 which is the traditional retirement age .

just had a nice holiday , with another coming up . Planing further holidays . Spent just under 20 k on three guitars ( white falcon , PRS 594 and a cherry red 335 .
Just saw the perfect boating option for us and will check that out this week . Signed up for another song writing course and booked in two co-writing sessions with US based friends ( one has had over 30 commercial cuts ……)

Got lots of things to do and while I’m not walking out of my job today , I can and probably will , a lot sooner than I planned .

cliff

 

Thanks for posting, we now can see how far a huge capital gain can do to a seasonal workaholic GP/property dealer

Joking aside, we all change to adapt and Covid did change our personal plan too, more positive with the help of 2021-2022 growth in our porfolio. All the best to you well deserved long holiday.

For me, it is always the power of choice when coming to anything like work, love or retirement so I can choose and do what I think is right happily. (even changing mind anytime is powerfull too)

 

Retirement is a funny thing, people just assume it's all fun and rosy. I don't know, maybe it's just because once you repeat things over and over repetitively it just takes out the novelty factor, and therefore, fun. Humans are just curious creatures, really.

I've come to the conclusion retirement or some form of retirement is only enjoyable if you're seriously wealthy enough to like change your lifestyle/surroundings and routine every few months.