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Keep in mind that "retirement" can have different meanings to different people. There is a good chance that we will retire from bi-monthly paychecks at 58 (about 2 years). However, I hope to be involved with some stuff at our high school and in our adult education programs that will provide a little income. My husband might very well do some consulting--occasional income and paid-for vacations to Dept of Energy sites around the country. We enjoy working on houses and so plan to buy and renovate a house every 1-2 years while we can (probably a good 10 years if we are careful). Good chance we will sell our current house and build another since we anticipate the real estate market will come back at some point in the next 10 years.

We consider it retirement, although we plan not to use much of our savings--just enough to fill in the gaps occasionally--we'll still have some income. We'll continue to save up from whatever is current income for big vacations and cars; we'll contribute back to our emergency fund as we use it. Not sure yet when we'll start social security or my husband's pension--depends on how a few more things fall out over the next few years.

That is the current Plan A. We think it has enough flexibility to work for the foreseeable future. We have several spreadsheets to track expenditures and investments and to estimate taxes. We are starting to play around with models that estimate retirement income and taxes.

This is all a long way of trying to explain that your question really does not have a yes/no answer--it depends on how you define retirement and what your savings and expenditures are and what you have for social security and pensions and what you think your investments will do.... And the only way to formulate a plan for YOU is to create (or find) spreadsheets that allow you to try out various scenarios.

Best wishes in the new year!
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