I am 54 and I am not. The most recent drop in tech stock values hurt me really bad. I've been trying to save more but it's so hard with the prices of everything going up.
I am not sure how things will end up, but right now I am very pessimistic. I'll probably have to work until I am 70+... Darn...
stocks will disappoint, pay off your debt, stack cash, cd ladders. Work every minute of overtime until you leave
to: What's y'alls retirement number?
lookup social security monthly (increases with inflation)
look at pension (does NOT increase with inflation & lump may be better, but risk)
check 401k, ira, roth ira (see financial advisor, fiduciary)
compare to current without FICA, some states do not tax retirement income.
Medicare charges more if you earn more, move assets in steps to Roth IRA.
I targeted 80% of current income. This question has many concerns, health, spouse, heirs, donations, check with Fidelity (pension holder) or Vanguard. There are several videos on youtube.
Just Over 50. Left T in Dec. i could have stayed retired but the job market was so hot that I decided to go back to work for more money and less responsibility than I had at T. I say I could have stayed retired because I have lived well below my means. I went back to work because I knew I could find something that would allow me to save more money, invest now while things are down in my retirement accounts and I wanted to stay busy for now. I should note that prior to leaving I saved a lot of cash in addition to my 401k. Enough to sustain me until I could withdraw from my retirement at 59. So I’m not worried about the fact that the retirement accounts are down. I’m not 59 for a long time .
Don’t worry, be happy !
What's y'alls retirement number? Don't mind me askign
Put as much as you can right now into your 401K is the best advice
33 years as an outside tech.
Out of debt.
Pension. Health Insurance.
I am ready to and able to retire, but the $$$ is too easy as we have little work.
I feel bad for newer employees without pensions or retiree beni's.
Get out of debt.
Max the 401K.
Try to run them out of $$$$
The Bidumb policy of working till you croak has most effectively make it impossible for anyone to retire unless you are a goobernment retiree that get 100% of their salary in retirement and a COLA and you have taxpayers to pay for those glorious pensions.
AT&T needs service limits. No one beyond 25 years of service, forced out to retire. Then bring back the GE model, cut 8%-10% of your work force annually. That will keep things fresh.
A majority of employees over 50 are essentially in retirement while still working full-time for T!
lol you just work until you die.
I’m 60 and anticipate in a few days when May’s segment rates are released my lump sum will be down between 130 and 140K and it’s only going to get worse. Wouldn’t mind staying a couple more years but it just does t make very much sense to do so. Don’t fret when I was 54 I wasn’t close to being ready for retirement either. I’m craft
Non union,oing to be 59 planning to retire 12/23 with 22 years of svc. Proper planning, living within my means, and things falling into place my home has been paid of for a few years, my kids are on their own and I not 1 cent of debt. Only concern I have is finding healthcare at a reasonable price. If not, in my state old folks can go to college for free. If needed I will take a course at the local technical college and enroll in a student health insurance.
The current market and economic conditions aren’t going to last forever. The market will come back around and inflation will subside eventually. You’re going to be fine.
As you approach 60 move into stable investments and income streams.
62 here, plan to work another 10 - 12 years. Job is a piece of cake now. Hardly any tickets and way too many technicians, it wasn't always this way. We used to really earn our pay, busy always. It's boring, but I don't mind.
The market will come back. Don't sell...now is the best time to be investing in your 401K...everything is on sale!!!