How Much Do You think You Need to Retire? What Age Will You/Spouse Retire? Investment and General Retirement Issues (Part 3)

[MarylandJOE]

Continuing the discussion from How Much Do You think You Need to Retire? What Age Will You/Spouse Retire? General Retirement Issues (Part 2):

@busdriver11

That was one thing that really stuck out to me. The examples the article used were of people with stable and good paying jobs, who worked in their industry for decades, yet their savings didn’t seem very high for their ages. One guy didn’t even start saving for retirement until age 53. I would be interested to know how they decided what to save for retirement and did the fact that they knew there was a pension impact their savings rate.

The 53 year old was retired military and his pension from the military was quite high. He did save I believe a million dollars outside of that too. He was pretty well set.

I personally have been heavily saving within a 401k but recently gotten access to what will end up being a small pension. I have cut back some on other savings because I have saved well and now that pension will give me a bit more security and dependability. It will be a known quantity that will also adjust for inflation.