bo_knows
Recycles dryer sheets
Still well within our "accumulation" phase, my wife and I find ourselves liking the idea of saving aggressively in our 30's, to get to a point where our retirement accounts (with average gains until we're 55+) will grow enough to support us in late retirement, while we switch gears to part time jobs.
After editing that sentence a couple times, I find it hard to understand myself. Here is our current idea:
Age 22-40: Save aggressively, until we meet a retirement account goal.
Age 40-55(or 60): Switch to part time work, just enough to cover bills, don't contribute much to retirement, enjoy life, watch retirement account gain interest.
Age 55(or 60)+: Completely stop working, use the retirement account (that has grown for the past 20 years) for income.
Does anyone on this forum have experience with a similar strategy? I'm curious.
After editing that sentence a couple times, I find it hard to understand myself. Here is our current idea:
Age 22-40: Save aggressively, until we meet a retirement account goal.
Age 40-55(or 60): Switch to part time work, just enough to cover bills, don't contribute much to retirement, enjoy life, watch retirement account gain interest.
Age 55(or 60)+: Completely stop working, use the retirement account (that has grown for the past 20 years) for income.
Does anyone on this forum have experience with a similar strategy? I'm curious.