What's your retirement plan?

[C0ckney]

some friends and i are planning to build a collectively run anarchist community out in the countryside; hopefully within the next two years.

[Alexander's Horse]

I'm planning to skip retirement, just get cancer and die in office.

[ricketyclik]

Does the thought of retirement induce a bout of nervous laughter that transitions to maniacal cackling and then descends into desperate sobbing?

That about sums it up.

[KrazyHorse]

My actual retirement plan is to save 50+% of what I make every year, running a high risk portfolio and trying to get to 8 figures by the time I'm 50. Then I plan to move to a low tax warm state on the ocean (hint...), convert my non-roth IRAs to roth money (paying an effective 15-20% rate as I will have almost no other "income" at that point - eat it, IRS + CT dept of revenue) and enjoy 30 years of diving, food, drink and slow living. Afterwards my kid(s) can inherit a sum (balance in the roths plus residual in taxable accounts) that will allow them to immediately retire, should they choose.

[Bereta_Eder]

When men make plans god laughs. I try to keep him at chuckle levels.

[Al B. Sure!]

50% domestic equity
25% domestic bonds
25% international equity

[Lorizael]

Oh, my "actual" retirement plan is to live forever as part of my ever-expanding, universe-consuming, telepathic blob.

[Jon Miller]

I currently 'save' about 50% of my net income. At this level of 'savings', I will pay off my debts around the time I turn 40. From there I will save. I of course have state mandated savings or what have you (currently about 7% of income).

Now I don't think I can maintain this level of savings with my income where I live. My family currently lives in a 60m2 apartment, and we don't have a car or daycare (and don't live in a european city anymore). Our living situation when we are travelling and staying at temporary residences is actually much better. I don't think we can continue to live this way for another 5 months even.

It has been 3 years since my 3 months of unemployment while I waited for a visa ended (where most of my non-student loan debt comes from). During that time I have had 2 significant salary increases (one of which was completely eroded due to my loans being in dollars and not pesos). It is enough to make me want to change careers.

JM

[Aeson]

My actual retirement plan:

1) No debt (accomplished so far)
2) Finish the house within 1 or 2 years. (on schedule)
3) Build a house for Net's parents. (may take precedence over #2 at some point soon)
4) Get all the siblings through college. (going well)
5) Buy up as much land as is legal in Net's name. (mostly done)
6) Get US citizenship for Net. (the hardest one, just in case something happens to me and what we're building here)

The perfect retirement:

1) An awesome hammock. (still looking)
2) Copious amounts of banana, papaya, mango, green coconut, avocado, and various other fruits blended together in awesome shakes and smoothies. (realized)
3) Go to the beach whenever I want. (realized)
4) Wake up whenever I want. (if we have kids that is going to destroy any chance of this for a good long while)
5) Play lots of games. (realized)
6) Lots of internet flame wars. (comes and goes, forum ownership seems to have been a mistake in this regard)

[Bereta_Eder]

Ok serious answer, thinking about retirement is depressing for me, especially since I've been pretty ****ing depressed all this week.
Logically, everyone gets a pension so I'll get some money from that. (although there really is a sentiment that pensions will be minumim and people would try to rely more in private schemes as well, something that is already done). I've been working since I got out of the (compulsory) army so I don't have "lost years" in insurance.
In 4 months I completely pay off the house mortgage so I have a house of my own.
I'm more interested in how my years go by than if I get a retirement to be honest.

[Hauldren Collider]

Oh, my "actual" retirement plan is to live forever as part of my ever-expanding, universe-consuming, telepathic blob.

Lorizael, God-Emperor of Maryland Community College

[KrazyHorse]

I currently 'save' about 50% of my net income. At this level of 'savings', I will pay off my debts around the time I turn 40. From there I will save. I of course have state mandated savings or what have you (currently about 7% of income).

Now I don't think I can maintain this level of savings with my income where I live. My family currently lives in a 60m2 apartment, and we don't have a car or daycare (and don't live in a european city anymore). Our living situation when we are travelling and staying at temporary residences is actually much better. I don't think we can continue to live this way for another 5 months even.

It has been 3 years since my 3 months of unemployment while I waited for a visa ended (where most of my non-student loan debt comes from). During that time I have had 2 significant salary increases (one of which was completely eroded due to my loans being in dollars and not pesos). It is enough to make me want to change careers.

JM

Maybe you should?

[Al B. Sure!]

Is 50% of your net income to pay off your debts in ~6 years typical for people with postgraduate degrees?

[KrazyHorse]

It is if you are working as a postdoc and have reasonable sized debts from undergrad.

[pchang]

My actual retirement plan is to save 50+% of what I make every year, running a high risk portfolio and trying to get to 8 figures by the time I'm 50. Then I plan to move to a low tax warm state on the ocean (hint...), convert my non-roth IRAs to roth money (paying an effective 15-20% rate as I will have almost no other "income" at that point - eat it, IRS + CT dept of revenue) and enjoy 30 years of diving, food, drink and slow living. Afterwards my kid(s) can inherit a sum (balance in the roths plus residual in taxable accounts) that will allow them to immediately retire, should they choose.

This seems a bit extreme to me. For me, 30% - 40% savings and mid 7 figures is plenty. I could retire now, but it would be less of a disruption if I continue to work until my son graduates from high school.