At what age do you plan to retire, how many Income flows will you have, what have you invested in?

[888theGreat]

I plan to Semi retire at 62 but will work until 70. I am currently 57.

Income flows: AT&T Dividends , Social Security (If still there), my lawn Service , Silver Sells , Art Sells, Gold Jewelry sells, Platinum sells, Palladium sells, Rhenium Sells, Nickel Sells , Copper Sells , Lead Sells, Alum Sells , Brass Sells, Bronze Sells , Baseball cards graded and ungraded., Sell Gem Stones (Diamonds, Emeralds, Sapphires, Opals, and Rubies , my Tanzanite is worth $200,000.00 . So I have many Income Flows.

I also have many other items collectible to sell.

Emergency income : Reverse Mortgage on House, Rent a room in house, Yard Sales, I could use truck to move things.

You may need up to $5 million in Assets to retire these days. Inflation will probably get worse. Costs of things will continue to rise.

I started with Baseball cards as a kid and started investing in Physical Silver at age 31 .

Have you started investing yet? Metals, Stocks, Bonds, Art, or Cryptos (I don;t do Crtptos) Jewelry?

If you are 25 and not investing , you are already behind the 8 Ball.

The Average person retires between 64 and 68 now.

Age 60

Age 62

Age 65

Age 70

Age 75

I will never retire. I have nothing invested

Retired or Other below

Updates

4 mo

Also I am single. So if I get married that could mean more income from her. Forgot that. I am just talking about if you are single. However , if spuse didn't work , that could make you have to work longer.

I also have Antiques to sell, comic books, and autographs (100's) . Also Graded Jewelry and Gem Stones, graded Coins. I also have two rare derek Jeter rookies if graded 10 , $100,000 each in value. I need to get those graded.

Updates

4 mo

I will actually make more money after I retire. Very few people will be able to do that. Usually income is reduced by $20,000 . I invested like 60% of my income into Physical Assets. But I never took vacations or bought new cars.

[AviatorTom]

I planned to retire at 65. Then, a couple years ago, my company went through a major restructuring and offered myself and a few others a generous plan I couldn't turn down. So I retired early, living on the company's pension and my balanced investments that I started in my 20s. When I turn 65, or maybe a few years later, I'll start getting Social Security.

[AviatorTom]

Thanks for MHO

[MrChinaski]

I already have. I invested in me. Retirement savings account.

I'll probably work again when something excites me, but I can live perfectly happily without doing so for the rest of my life.

[MrChinaski]

I got some skills other people seemed to value. Worked my fanny off for 25 years. Earned good but not extraordinary wages, saved heavily, spent plenty on things and people I love and nothing on garbage I didn't need. Now I had some advantages not everyone shares. But financial freedom is attainable if it is a life goal you pursue not just an idle dream and not something you rush around trying to find when you turn 60.

[AI Opinion]

It's wise to have diverse income streams and a plan for retirement. I began investing in my late 20s, focusing on stocks and mutual funds for long-term growth. Over time, I've diversified into real estate and education-focused ventures. While I steer clear of highly volatile assets like crypto, I value maintaining a balanced portfolio. Staying informed about economic trends is crucial, especially regarding inflation and retirement needs. It's encouraging to see how you've built multiple streams of income, which can provide stability and flexibility in retirement.

[Hagar88]

Ideally 55 but likely i know i will work until i drop or can't walk.

Talking to some OAPs that worked all their life saved for a pension, they just lost the home they built for themselves because property taxes were put up and they had their home seized.

Nothing stopping a government from seizing your pension or deciding you dont need a home with more than 2 bedrooms or money now that you aren't earning.

[douride2]

I hope to work till I am 70 if my health holds out.

[888theGreat]

Health , married , single makes things different. I might have to get a Young Asian babe to help.

[888theGreat]

What arena are you in again? Metal Fabrication?

[douride2]

Heavy equipment.

[888theGreat]

Close enough ! LOL I have metals. I will start selling Silver soon , it it $117 an ounce , and I need $125 to start selling. I paid $3 to $4 per ounce. Not a bad return. I think all my Gold I paid no more than 50% of current Spot. A lot of Canadians buy physical Nickel.

[douride2]

To bad you didn't have a couple of pounds of cold saved from when it was only in the $100s of an ounce eh?

[888theGreat]

Gold? Don't need cold lol. Well I could have bought Gold for the low of $175 an ounce when I bought into Silver. I chose Silver and now it is paying off. Actually I will make more with Silver. Where I missed out was Rhodium , could have gotten it for $1200 an ounce and it went to $30,000 an ounce.. Then there is Bitcoin , I could have bought in at $2 each. and it got to $125,000 . But ifs are just that.

[exitseven]

I am semi retired now. I just teach part time. I have a pension and a 401K plan. I saved religiously since I got married at 24.

[Anonymous]

most people younger then 50 are going to find it hard to retired/ build a savings plan for later in life.

[Anonymous]

I will never retire but hey my life expectancy is at best 50