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Director
Joined: 28 Jun 2006
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When Will You Retire? [#permalink]
 09 Feb 2007, 09:05
So assuming we all get into b-school, and we do well, and from there we get into our desired industries, when do you think (let's be realistic here, not overly optimistic) you will be able to retire?
Is everyone's goal pretty much to retire as soon as possible?
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Director
Joined: 07 Aug 2006
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Your realize that many people work well into their 60s and sometimes 70s, right?
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Current Student
Joined: 29 Jan 2005
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Retiring too early could backfire as well. Word is that we humans are living longer and need the mental stimulation in out twilight years to ward off alzheimers disease. As long as I can do what I like and get remunerated for it, I'm going to keep on truckin'. Alan Greenspan kept the helm of the Fed Board up into his 80s and I'd bet my bottom dollar that Branson and Gates have no intentions of throwing in the towel any day soon.
To accurately answer your poll, I'd need another couple options.
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Director
Joined: 28 Jun 2006
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Just realized I totally screwed up the options the last one should be 55-60, not 51-60.
I realize many people work in their 60's and 70's, I just assumed that people wouldn't pick those options.
GMATT73, I agree, I would still like to be doing "something" when I get into my 50's and 60's, whether it's some sort of business venture where I can work 20 hours a week, or if it's doing some sort of charity thing. But I guess what I meant with my question was, at what point do you think you will have enough money that you won't need to worry about being constantly employed. For instance maybe when someone is 55 they can "retire" and travel the world for a couple years, and then maybe settle down in Santa Monica running a little surf shop or something to have a little income to supplement savings.
I'm assuming most of us are headed for the rat-race, so I'm looking forward to the day I can step out of that, and trying to make that as soon as possible. I think I can do that in my mid to late 40's if I invest wisely and manage to do okay in consulting.
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Director
Joined: 07 Jun 2006
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never.
I'll die working.
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Manager
Joined: 25 Sep 2006
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I'd say as soon as I can save a few million bucks and have a couple of houses and cars paid for, then I'm out!
i'd spend the rest of my days travelling, open a resturant/lounge, maybe have a small office to manage my investments, or hire someone to do it...
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Director
Joined: 28 Jun 2006
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Fluffydot,
That's what I'm talkin' about, good plan.
Necromonger - That's what I see when I look in the mirror these days.
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SVP
Joined: 01 Nov 2006
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johnny, i'm tellin' ya, we're twins.
I will probably have enough socked away by the time i'm 50, assuming i don't end up supporting all three of my parents and that my mba adventures don't completely wipe out the assets i've accrued.
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Director
Joined: 28 Jun 2006
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Wouldn't that be nice? To retire while you're still mobile and able to enjoy life? What's the saying, "You should be rich when you're young and poor when you're old." Something like that. I mean when I'm 50 am I even going to want to travel as much? Right now a vacation can be adventure, relaxation, culture, and nightlife. When you're 50 I imagine you're down to culture and relaxation.
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VP
Joined: 24 Sep 2006
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As soon as I've made enough money for the money to take my place (at working, that is), I'll quit. I'm hoping I'll reach that point around 45-50, and probably dedicate my time to teaching.
I'd hate to work for someone until I'm forced to retire. After a certain point it gets kinda nasty (young boys disrepecting you and the whole package).
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Director
Joined: 10 Aug 2006
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lepium wrote: As soon as I've made enough money for the money to take my place (at working, that is), I'll quit. I'm hoping I'll reach that point around 45-50, and probably dedicate my time to teaching.
I'd hate to work for someone until I'm forced to retire. After a certain point it gets kinda nasty (young boys disrepecting you and the whole package).
same here
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