What's your Current Age/Retirement Age/Total working years

[tangomonster]

Current age: 58

Retired at 52 (thought it would be 57, but this forum convinced us that we were good to go)

Worked 28 years

No pension. Supporting self on mostly tax free interest from savings

[RobLJ]

CA=54
RA=56/57
WY=30 + 6 1/2 time

Hope to modify employment to half-time at 56/57 and draw out at a low rate. Will qualify for retirement at 56 with health benefits.
If half time not practical will work another year or two. Plan to withdraw at 5% until SS kicks in, then reduce withdrawal rate to 3%. Calculations suggest we need an increase of 30-35% in portfolio to retire more than comfortably; could live on current amount after selling retirement home and downsizing.
I'm curious if anyone has withdrawn at higher rate until Social Security, which could be viewed as an annuity (and DW's SS will be higher although later). Also considering a delayed annuity for wife, who is likely to live longer, as another assured income stream, but there's a lot of time for considering this.

[rescueme]

Quote:

Originally Posted by RobLJ I'm curious if anyone has withdrawn at higher rate until Social Security, which could be viewed as an annuity (and DW's SS will be higher although later).

Yes, we both are.

I retired at age 59 but don't plan on taking SS till age 70 (primarily for the benefit of DW).

DW retired this year (64) but will be delaying SS till FRA age of 66.

Since a great deal of our retirement assets are in tax-deferred instruments, it allows us to reduce our respective portfolio's, which in turn reduce the amount of "excess" RMD's at age 70.5. Excess RMD's mean withdrawls required by tax laws, not necessarily that we need the money.

In addition, it aids a bit in portfolio management since we will be "trading in" a good portion of our portfolio for a future inflation adjusted lifetime annuity - AKA SS.

Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.

[Brett_Cameron]

Quote:

Originally Posted by rescueme Yes, we both are. I retired at age 59 but don't plan on taking SS till age 70 (primarily for the benefit of DW). DW retired this year (64) but will be delaying SS till FRA age of 66. Since a great deal of our retirement assets are in tax-deferred instruments, it allows us to reduce our respective portfolio's, which in turn reduce the amount of "excess" RMD's at age 70.5. Excess RMD's mean withdrawls required by tax laws, not necessarily that we need the money. In addition, it aids a bit in portfolio management since we will be "trading in" a good portion of our portfolio for a future inflation adjusted lifetime annuity - AKA SS. Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.

+1

[Huston55]

Quote:

Originally Posted by rescueme Just remember that under this scenerio you can't necessarily go with a measurement of the 4% rule. While our withdrawls are higher than 4% at the current time, it will drop to just over 2% of the then forecast value at our joint age of 70 - after two small pensions (DW) and our respective SS income flows start over the next five years.

Same for us. Fido RIP shows our w/d being >4% to start and ~2% later as we're collecting 2xSS and pension.

[BTravlin]

Current age: Me 54 and DW 50
Retirement age: Me 57 and DW 52
Years worked: Me 34 and DW 29
Pension: Me none and DW small non-COLA

[Tekward]

Current age = 55
Retire at 55-58 as I decide
Worked full time 37 years, with 25 years of part-time (not counting 8 years small biz and 11 years night school)
Pension = yes, Military reserve at 60, COLA
Savings to be FI, no mortgage, debt
Three kids moved out and independent

[Sniggle]

Current age - 48 (wife 42, home maker, no income)
Retire Age - 60-62
Worked full-time for 25 years
Pensions (expected) - Army Reserve at 60 ($24,000 annually), Current employer ($60,000 annually if nothing changes), COLA for army
401K and Roth IRAs
Will have mortgage debt, one way or another

I may be able to retire sooner.....depends on how deep into 7 figures I can get my 401K

[caninelover]

Current age: 40
Projected Retirement Age: 55-60
Working years: 37-42
Pension: World's smallest pension from my first employer ~$188/mo, ha ha.

[Meadbh]

Current Age: 55
Retirement Age: 55
Total working years: 33
Pension: No

[SoReady]

Current Age: 56
Retirement Age: 60ish
Total working years: 33
Pension: Yes

[CyclingInvestor]

Current Age: 54
Retirement Age: 48
Total working years: 27
Pension: No

[CDN_47]

Current Age: 47
Retirement Age: 58ish
Total working years: 25 so far
Pension: Yes

[jimnjana]

Current age: 49 (DW 58)
Retirement age: 45 (DW 53)
Total working years: 25 + for both of us
Pension: Both of us have pensions

[LakeTravis]

Current Age: 52
Retirement Age: 54 (hopefully)
Years Working: 30

My retirement plan is simple. Draw 100% of my annual budget from after-tax investment accounts for the 8 years until I can draw SS which will comprise 35% of my annual budget and draw the other 65% from those same after-tax investment accounts for the next 7 years, at which time they will be depleted unless I realize more than my 0% annual growth estimate.

After that 15 year period, I'll then begin drawing from my tax-deferred investment accounts (which I'm estimating will have enjoyed 15 years of untouched growth at an annual average rate of 5%) till death do us part.

[trouthog]

Current age: 61.5
Projected/goal retirement age: 62.5
Total working years : 45
I enjoy my job hope I don't miss it. Lots of outside interests.
Very small pension mostly self funded and real estate

[daystar]

Age: 33
Retirement Age: 57
Years Working: 10
Pension: I'll have a pension equal to 1/3 of my salary.

I have been maxing out my 401k and Roth IRA for the past 10 years.

[Original Wally]

Current age is 58.75.
Retired at age 55.5.
Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college.
Pension status:
Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5%
DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide)
Me: Social Security disability of $29k / year
Investments of $500k + House of $350k
Zero debt

modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.

[Huston55]

Quote:

Originally Posted by AWeinel Current age is 58.75. Retired at age 55.5. Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college. Pension status: Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5% DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide) Me: Social Security disability of $29k / year Investments of $500k + House of $350k Zero debt modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.

CalPERS seems to be in sound fiscal shape but, with the amount of Cali state debt, do you worry about your CalPERS pension?

[WestLake]

Quote:

Originally Posted by AWeinel Current age is 58.75. Retired at age 55.5. Worked since I was a kid. Newspaper route, etc. Married @ 19... worked full time putting self thru college. Pension status: Me: Yes = CalPERS @ 57% of final comp. $53k yr w/ annual COLA of up to 5% DW Yes = CalPERS of couple of hundred a month. (Worked YEARS as teacher's aide) Me: Social Security disability of $29k / year Investments of $500k + House of $350k Zero debt modest lifestyle. For example, still have a tv with a PICTURE TUBE. Still works, don't need no stinkin flat screen tv. ONLY indulgence is DW has an '08 BMW Z-4. Mine is an '08 F-150.

Wow. Tempted to make editorial comments. Just let me say a lot of people would love to have that sort of income outside saving and investments. May I ask if you also get insurance?