I worked for 41 years before my retirement. Somewhere in the middle, I received about 1.5 years of severance pay. From a financial point of view, I consider myself to have effectively worked for 42.5 years. Does that actually make sense? Anyway, I'm interested in knowing after how many working years did OZBargainers retire.
How Many Years Did You Work before Retirement?
BendBridge on 31/08/2023 - 13:17
Poll Options
- 14> 45 years
- 1340-45 years
- 535-39 years
- 230-34 years
- 225-29 years
- 620-24 years
- 25< 20 years
Comments
At work, if you're a selfish bastard, Good people die when they just get home.
Retired at age 29. Got an inheritance
Really? Congrats, m8. We shouldn't have to slave away for 40+ years to retire in your older years when you have far less energy and drive to enjoy your existence.
Yip, congrats on having a lived one die.
oi! Congrats on retiring ** at 29 is what I meant!
Forgot to put /s
Have already been working for 25 years, another 20+ until I'm 65, hopefully I make it that far.
Trying for 35 years. Once kids go to uni, i'm done.
my old man worked from 24 to 70
What did he do before 24?
studied at uni, and stayed in uni for an extra year as his birthday was drawn in the vietnam ballot draft
conscription was over by the time he finished up, luckily for him (and indeed me)
He got on the beers.
I’ve got 2 x power hit entries for the lotto tonight so I’ll wait till the draw is completed before I answer.
If you win, let me know the numbers so I can try tomorrows numbers
Lost $53. Less than ideal.
This is assuming retired people go on Ozbargain at all.
I'd hope when I'm retired I have better things to do, but maybe if all I have are eneloops I won't have money to do much else.
Don't forget your Steam/Amazon/Epic library with free games :)
Knitting, jigsaw puzzles and bingo nights.
Can't wait.
Still working and unable to retire.
Look, if you can't afford to retire you should get another job so then you can..
I think that's how it works.
I intend to retire at 55. I'm a decent way off, but if I don't make any reckless investments, or the world financial system is turned upside down, I think I'll get there.
Started full time working at 15 and in my late 30's set a goal of retiring before I was 50. Retired at 49, 60 days before my 50th and never looked back
Congrats mate. What keeps you busy now?
Initially I tried all of the "old fart" stuff like playing golf but realised that was not for me. Gold clubs could never seem to hit the ball properly!
So I very slowly started a home based import/export business of small and unique hobby products. That was about 15 years ago and has gone from strength to strength and now occupies about an hour a day.
How much $$$$ you need for retiring? I have only 260K in super :(
Depends…. do you own your PPOR outright?
Not yet…. Around 200K still as loan. I think I will have to work until I die…. lol
Having $260k in super could either be really good or really bad depending on your age. If you're 18 then it's really good but if you're 60 then it's not so good.
I am on track to retire at 55. Worked from 22. I could retire earlier but I want to retire with a solid investment income, not just getting by.
There's a risk that you may die before getting there.. Just getting by could work out better if you can be happy.
There is also a risk one of my investments goes bad & I end up dependent on a pension in my old age which I am almost certain wont exist by the time I hit my 60s. Super is also dubious, rules keep getting changed & my personal investments keep outperforming the "experts" managing my super.
There is always risk, but working hard & building multiple buffers against getting zeroed out is the most effective way to minimise it. Is there a risk I am taking all these precautions for nothing? Sure, but the way things are going I don't think I am going to roll those dice.
Great planning. Can you guide how much passive income (with our own home no debt) is good per year for retirement?
that answer will be different for everyone. Just work out what are your current monthly expenses minus your mortgage payment and decide fi that's enough for you to live the life you want to live or not. Also, need to factor in inflation.
Depends on how well you want to live. I currently life very frugally (which is part of why I can save so fast) but my lifestyle now wont be possible once I am older. Medical costs suck & I want somewhere comfortable to park my geriatric ass. As a target I am aiming for my investments to earn the median income at the time I retire. If I retire right now it would be 66k a year (which I am nowhere near yet).
Aiming for a few years away, as I hit 45.
I tried semi retirement in my mid 30s after a redundancy. I ended up back to full time hours at this place I enjoyed working at. Then I decided to study full time and just work part time now. I don't think I'll ever fully retire.
2
'two too many'
I'm not sure the prison workshop counts as "working" in this instance.
I don't plan on retiring. I'm just going to suddenly die one day.