The Motley Fool Discussion Boards
Retirement Discussions / Retire Early Liberal Edition
|Subject: Re: Poll: retirement income||Date: 10/2/2012 1:07 PM|
|Author: telegraph||Number: 45708 of 53432|
"I had lunch with some of my classmates from engineering school on Friday (golf was rained out). It was interesting that all had million dollar plus retirement savings but couldn't imagine being able to retire on that plus Social Security. All but one expected to be working until age 70."
if they are making 100K/yr and that is their lifestyle......
even with SS....and maybe a pension - but a lot of engineering companies did away with pensions in the 80s.....and gave folks 401Ks.....
It might be hard to retire on 2 million.....if you are only able these days to take about 2.3%a year from it......
For a single person, SS isn't all that much.....compared to 100K incomes...or more....heck, they could be blowing a 150K a year income.
Sounds like they like their work...a lot of engineers don't retire well......
I had no problem. My job sort of left me...... but I was ready.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|