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  1. #1
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    BH-KatiesMum is offline Community Manager
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    Default Do you have a retirement plan?

    What would you like to do?


    Me and DH are often planning stuff of what we will do when we retire (hopefully early enough to enjoy some of these things )

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    My dream is to do dual living. 6 months in Australia, 6 months in Europe

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    kylie764  (20-03-2017)

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    I want to foster

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    Wise Enough  (20-03-2017)

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    At this stage to not work until I'm 80 then drop dead the next day the way the cost of living is now

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    YeahYeahYeah  (20-03-2017)

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    I want to mind grand kids and spoil them rotten.

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    nicole83  (20-03-2017)

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    I want to work until I feel it's no longer doable, then switch to volunteering in the same field. I want my kids to know they have a built in babysitter, whether it's for work or for nights out. I want to travel with my husband and spend time with him, spoil him with attention.

    I want to have the kind of Christmas where my kids and their kids and their kids kids come, and all their in laws and friends come and everyone sits around and laughs and has a great time. I want to bask in the familial love.

    I want to have a decent sized hobby farm. I want to just drop by my kids houses with unusual amounts of fresh produce and homemade jams and baked goods.

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    babyno1onboard  (20-03-2017)

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    We are working towards being able to afford to retire rather than putting a retirement plan in place.

    It is scary how many people do not realise just how much they need to live on.

    Real life E.g. Wife earns 60K, husband earns 80K= $140K
    - Mortgage 30K= $110K
    No savings being done.

    That's 110K that is being spent a year on whatever. So assume you need it (as you are spending it), also assume you will live 20 years past retirement (assuming you live to 85).
    That's 2.2 million you need.

    *I realise that there are things being bought that won't be needed in retirement but you base the future on the present as it's what you know*

    We will inherit either my in-laws house, or there 3 apartments (two children so one will get the house and the other the apartments). We are hoping for the apartments and BIL has tentatively agreed but the boys will work that out when needed (PILs have said they would rather we did get the apartments).
    So that's 3 potential investment properties paid off.

    H wants to but 2 more investments and then our house.

    The investments will give us an income for retirement, which we need as we don't have much in super (I have about 4K and H has about 60K) and the pension can't be relied on tbh.

    ETA: We have both been chatting lately about living in the middle of nowhere and being self-sufficient
    Last edited by DT75; 20-03-2017 at 15:21.

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    We want to buy a block of land in the mountains within the next 10 years and slowly build our dream house. We'd put a shed on first, somewhere we can stay on weekends. We want to have it built and paid off at least 10 years before retirement, with the aim to be working part time and living there full time by the time we're 65 (got 35 years).

    We're lucky in that I have a pretty solid super nest egg, and my partner is in a good super scheme that will pay off really well. Fingers crossed it will be enough!

    So many people think that dealing with super is something for later in your career, but its so important early on. I've been paying extra into mine for years and it is the last thing I would stop paying if I needed to reduce my expenses.

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    Quote Originally Posted by Ahalfdozen View Post
    I want to work until I feel it's no longer doable, then switch to volunteering in the same field. I want my kids to know they have a built in babysitter, whether it's for work or for nights out. I want to travel with my husband and spend time with him, spoil him with attention.

    I want to have the kind of Christmas where my kids and their kids and their kids kids come, and all their in laws and friends come and everyone sits around and laughs and has a great time. I want to bask in the familial love.

    I want to have a decent sized hobby farm. I want to just drop by my kids houses with unusual amounts of fresh produce and homemade jams and baked goods.
    This! All of it.

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    We don't have a retirement plan...it's decades away for us and we don't even know what we're doing next year let alone in 30- 40 years time!


 

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