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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 60213  
Subject: Re: Poll: retirement income Date: 10/2/2012 1:07 PM
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"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."


Depends...

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.



t
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