When did your parents retire
I thought it would be a neat exercise if we could get a gauge on when our parents retired. It might help to see where our retirement goals/plan stand now in relation to the age our parents were when they retired. Personally, it seems so far off that I don't always feel motivated to make it a priority.
My dad is still working at age 75 and he plans to retire next year. I don't think he really wants to retire. He really loves to work - he was born in Greece and moved to the U.S. to pursue his engineering career. He travels internationally for business to South America, and he has even been working at the same company for about 47 years. He started as an engineer and now is a director of international marketing. My retirement goals are very different compared to my dad since I plan to do early retirement. I'm also much more interested in saving and investing and I like to manage my own investments. My stepmom will probably be retiring next year so she can enjoy retirement with my dad - they plan to do traveling and spend time with family.
Re: parents' retirement
My father in law, Bob, retired at 62 which is impressive. He also had a goal in mind to retire at an early age and worked almost single-mindedly towards it his entire life. It took serious planning and self-control to make it happen amidst unexpected circumstances, helping family members, etc.
However, I am not sure I will have the same earning power as he did (cross my fingers) to enable such an early retirement (nor am I sure I would want to retire that early).I know there is probably a serious retirement gap on my end but it's been difficult to recognize because 3 out of 4 of our parents are still working. We are in our mid-30's so it's not as depressing as it sounds! I've increased my 401K contributions and I've also been educating myself about various other components to a solid retirement plan (life insurance, annuities, mutual funds, etc) so I can see where I need to go from here but it's a slow a deliberate process.
Janice James - W+H Community Manager
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