Soon to be Walgreens Pharmacist

[quickpic007]

As much as I love my job, I will love not having to work even more.

As a retail rph, how are you basing your retirement date? Total net worth? Monthly passive income? Children out of house?

Low 30's here looking to get out by late 30's LOL

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[wagrxm2000]

As a retail rph, how are you basing your retirement date? Total net worth? Monthly passive income? Children out of house?

Low 30's here looking to get out by late 30's LOL

All the above

When you are retired, you will have very little costs. Children cost a fortune and your mortgage will be paid off. That's a high majority of our costs.

Simple math: we will be able to live easily on 40k, double that for inflation (or x2.5 for more accuracy) and multiply that by 30 years of retirement and I have 2.4 million as a goal (not including house). Obviously I'll be pulling in social security and dividends so that should leave a nice next egg for my family when I die.

We are not one of those live cheaply families. Life is too short to not spend your money. I would work into your 40s if I was you to grow that nest egg.

I'm getting extremely close but I won't be retiring until I see some kind of correction in the market. Last thing I want to do is lose a million in a year when I'm retired.

I'm getting extremely close and hopefully will be retired in 5 years. Kids will be out of the house that will be paid off and we should be going back up after a correction.

 

[quickpic007]

All the above

When you are retired, you will have very little costs. Children cost a fortune and your mortgage will be paid off. That's a high majority of our costs.

Simple math: we will be able to live easily on 40k, double that for inflation (or x2.5 for more accuracy) and multiply that by 30 years of retirement and I have 2.4 million as a goal (not including house). Obviously I'll be pulling in social security and dividends so that should leave a nice next egg for my family when I die.

We are not one of those live cheaply families. Life is too short to not spend your money. I would work into your 40s if I was you to grow that nest egg.

I'm getting extremely close but I won't be retiring until I see some kind of correction in the market. Last thing I want to do is lose a million in a year when I'm retired.

I'm getting extremely close and hopefully will be retired in 5 years. Kids will be out of the house that will be paid off and we should be going back up after a correction.

For me I am unsure. I am close to a million soon. Am I too simplistic on thinking I can easily eek out 4-5% (40-50K) on the million roll and just live off of that if there are no kids? Sometimes I feel it is foolish to give up a 140K + post when its not even that bad (not at CVS day) yet I love lounging around the house.

 

[PharmDminus]

For me I am unsure. I am close to a million soon. Am I too simplistic on thinking I can easily eek out 4-5% (40-50K) on the million roll and just live off of that if there are no kids? Sometimes I feel it is foolish to give up a 140K + post when its not even that bad (not at CVS day) yet I love lounging around the house.

i wont retire until I hit 2 mil. i think 5% is pushing it, 3.5% to 4% is a safer bet. 2 mil would put me at 70k to 80k a year and that is enuf for me to call it quits. Probably wont get there until mid to late 40’s though. All depends on stock market.

 

[wagrxm2000]

For me I am unsure. I am close to a million soon. Am I too simplistic on thinking I can easily eek out 4-5% (40-50K) on the million roll and just live off of that if there are no kids? Sometimes I feel it is foolish to give up a 140K + post when its not even that bad (not at CVS day) yet I love lounging around the house.

You just have to find something you will enjoy doing instead of work. Heck I might retire and realize I need a part time job.

 

[mydogatemysuboxone27]

You just have to find something you will enjoy doing instead of work. Heck I might retire and realize I need a part time job.

I agree with the above, it does seem silly to leave a job with that salary. Admittedly I did take a bit of a paycut leaving CVS for Walgreens, but the hours, volume were better and distance to work is less. It all seemed to round out. And so far the change has been nice, definitely not as metric hungry as CVS and my boss isn't forcing me to do extra work.

I personally can't envision my wife and I packing it up and retiring at 50. The only way I see that happening is if we move to somewhere in the South (below Maryland) or to Spain. In the Northeast taxes alone are enough to put a damper in retirement plans and it seems like if you're not dumping all of the paycheck in a 401k/IRA you need to work until 65 at least, if not longer.

 

[quickpic007]

I agree with the above, it does seem silly to leave a job with that salary. Admittedly I did take a bit of a paycut leaving CVS for Walgreens, but the hours, volume were better and distance to work is less. It all seemed to round out. And so far the change has been nice, definitely not as metric hungry as CVS and my boss isn't forcing me to do extra work.

I personally can't envision my wife and I packing it up and retiring at 50. The only way I see that happening is if we move to somewhere in the South (below Maryland) or to Spain. In the Northeast taxes alone are enough to put a damper in retirement plans and it seems like if you're not dumping all of the paycheck in a 401k/IRA you need to work until 65 at least, if not longer.

Ive always wondered about life in the northeast with all those taxes. In much of the country you can buy homes near 100$ psf with little tax. If I was certain I'd stay in this town I'd build a triplex for cash and rake in 1400 in rent while paying no mortgage.

 

[mydogatemysuboxone27]

Ive always wondered about life in the northeast with all those taxes. In much of the country you can buy homes near 100$ psf with little tax. If I was certain I'd stay in this town I'd build a triplex for cash and rake in 1400 in rent while paying no mortgage.

I grew up here and our family is here, so it's what we're all used to. I just purchased a 4br 2 bath last June for over 4 and the taxes are at 14k yearly. normally i'd be able to write off that tax but with Trump's tax overhaul they capped it for 10k, combined with personal income tax. so unfortunately we won't be able to write off close to 30% of that now, and whatever income tax associates with my wife and I

 

[M0df]

I am not sure if this was already posted elsewhere but Walgreens has started the process of closing down some of the Rite Aid stores they acquired. They give you about 4-5 weeks notice. It doesn't look like employment is guaranteed for employees in those locations, front store or pharmacy. They claim they will attempt to retain everyone but you know that is not likely to happen.

 

[quickpic007]

I grew up here and our family is here, so it's what we're all used to. I just purchased a 4br 2 bath last June for over 4 and the taxes are at 14k yearly. normally i'd be able to write off that tax but with Trump's tax overhaul they capped it for 10k, combined with personal income tax. so unfortunately we won't be able to write off close to 30% of that now, and whatever income tax associates with my wife and I

Wow Trump really screwed high tax states.
I'd assume the schools are good for that 14K tho

 

[mydogatemysuboxone27]

I am not sure if this was already posted elsewhere but Walgreens has started the process of closing down some of the Rite Aid stores they acquired. They give you about 4-5 weeks notice. It doesn't look like employment is guaranteed for employees in those locations, front store or pharmacy. They claim they will attempt to retain everyone but you know that is not likely to happen.

It's true. Luckily I'm in a store that's not close to the next Walgreens. There's a store not far away that's less than half a mile away, unfortunately it seems the writing is on the wall for them.

Wow Trump really screwed high tax states.
I'd assume the schools are good for that 14K tho

Yeah school taxes are astronomical. Glad the kids are getting a good education.. it starts from the bottom