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MoneyGuy · 02-03-2014, 09:33 AM

I think retirement should be what ever you want it to be. I'm 60 and we can afford to retire now, if we chose to. However, I like what I do, earn a high income and my work gives me opportunities I wouldn't have (like awesome travel, partly tax deductible).

If you want to quit working, go for it but please consider the possibility that you'll live longer than you thought and will need more money than you thought. If you want to keep working past the age when you can afford to retire, go for it. If you want to semi-retire and work part time doing what you love (such as working in a motorcycle shop or some equivalent), go for that.

I have these discussions with my clients all the time.

I'll stress one thing: if you retire it had better be a permanent decision so make sure you can afford it for a few decades, and consider that you may spend more than you did while working. It depends on what you want to do.

02-03-2014, 09:33 AM	#209
MoneyGuy Franchise Player Join Date: May 2006 Exp:	I think retirement should be what ever you want it to be. I'm 60 and we can afford to retire now, if we chose to. However, I like what I do, earn a high income and my work gives me opportunities I wouldn't have (like awesome travel, partly tax deductible). If you want to quit working, go for it but please consider the possibility that you'll live longer than you thought and will need more money than you thought. If you want to keep working past the age when you can afford to retire, go for it. If you want to semi-retire and work part time doing what you love (such as working in a motorcycle shop or some equivalent), go for that. I have these discussions with my clients all the time. I'll stress one thing: if you retire it had better be a permanent decision so make sure you can afford it for a few decades, and consider that you may spend more than you did while working. It depends on what you want to do.