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deleted158872
At what age do you plan to retire your career as a pharmacist?
why? because you love your work or because of financial reasons?I plan to go part-time-ish at 50-55 (~2 days a week), I don't see myself completely stopping until I'm physically incapable of being a pharmacist.
why? because you love your work or because of financial reasons?
If I'm hopeful around 45, but with the predicted returns for the stock market it will probably be more like 55-60. To be honest I don't think they'll be keeping many of us around that long anyways.
this is my simple way to calculate desired retirement age:: annual expenditure x (# of yrs before 62) = money needed to save.
for example, after i retire, i plan to live on $30,000 a year. at age 62 i can live off of social security, so i will retire at 52 (62-52 = 10). hence $30,000 x10 = $300k. so if i want to retire at age 52, i will need $300,000 in savings. that $300,000 will get me by for 10 years. after that, social security will kick in. worry free! or if i want to retire at 42, i need $600,000.
this is my simple way to calculate desired retirement age:: annual expenditure x (# of yrs before 62) = money needed to save.
for example, after i retire, i plan to live on $30,000 a year. at age 62 i can live off of social security, so i will retire at 52 (62-52 = 10). hence $30,000 x10 = $300k. so if i want to retire at age 52, i will need $300,000 in savings. that $300,000 will get me by for 10 years. after that, social security will kick in. worry free! or if i want to retire at 42, i need $600,000.
Except when you hit 62, social security is expected to only be able to cover 75% or less of expected benefits.
Plus, this is such a bad plan with bad math, I don't even know where to begin.
Wow... just wow...this is my simple way to calculate desired retirement age:: annual expenditure x (# of yrs before 62) = money needed to save.
for example, after i retire, i plan to live on $30,000 a year. at age 62 i can live off of social security, so i will retire at 52 (62-52 = 10). hence $30,000 x10 = $300k. so if i want to retire at age 52, i will need $300,000 in savings. that $300,000 will get me by for 10 years. after that, social security will kick in. worry free! or if i want to retire at 42, i need $600,000.
yea i miss a lot of pointers. children, family, 3% inflation.. etc. hahhh
yea i miss a lot of pointers. children, family, 3% inflation.. etc. hahhh
this is my simple way to calculate desired retirement age:: annual expenditure x (# of yrs before 62) = money needed to save.
for example, after i retire, i plan to live on $30,000 a year. at age 62 i can live off of social security, so i will retire at 52 (62-52 = 10). hence $30,000 x10 = $300k. so if i want to retire at age 52, i will need $300,000 in savings. that $300,000 will get me by for 10 years. after that, social security will kick in. worry free! or if i want to retire at 42, i need $600,000.
At what age do you plan to retire your career as a pharmacist?
You don't qualify for Medicare until you are 65. So for 13 years how are you planning to pay for your increasing medical cost?
You 20 years in I take it?I can retire right now if I want to..but the life will be boring in that case. My goal is to retire by 45.
when I can cash out the roth 401k!!
also thinking about retirement lottery ideas...maybe my youtube motovlogging takes off?
You a feddy?At 45 if all goes according to plan! (Which is partially out of my control). Worst case scenario: 57. I'll have pension + a pretty significant amount in TSP + hopefully some form of passive income
You a feddy?
45. Between my investments and pension I'll be very well off by then.
Some of you guys are soft as hell... who stops working 40 hours a week in their 30's?c
Some of you guys are soft as hell... who stops working 40 hours a week in their 30's?c
Spend more time with my family and enjoy life. We will still have a very significant income even if I reduce to part time
Yeah just make your wife keep working for that 400k/year and you can be Mr. homemaker
Some of you guys are soft as hell... who stops working 40 hours a week in their 30's?c
I still work 40 hours per week because children are a money pit. I provide for them what my parents couldn't do for me. When you have three in travel sports, your paycheck doesn't go as far as you like. My wife is the full time taxi driver and I'm part time when there's a time conflictI take it you don't have kids? One of the posters said he would cut back in his 30's, because of his children. Until children hit 16, a lot of time can be spent driving them from activity to activity. Once one gets more than 1 child, and if those children have different interests and different activities, the time crunch can quickly spiral out of control. So yeah, the guy is cutting back to 32 hours, he is probably spending the 8 hours driving his children back and forth to activities.
What type of pharmacist gets a pension?