When can I safely retire?
Figuring out if current savings, assets, and projected expenses are enough to stop working without running out of money creates massive uncertainty. Without a clear way to verify these numbers, people are left guessing if they can afford to retire or if they are taking on too much risk.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
- 1Working longer before retiring
- 2Using online retirement planning tools and calculators
- 3Reducing lifestyle and travel expenses
- 4Delaying social security claims
- 5Planning a barista FIRE option with a part-time job
- 6Restructuring individual stock holdings into a blended portfolio of dividend and covered call ETFs
- 7funding Roth IRAs fully
- 8building emergency funds
- 9training for a job shift into a higher paying field
- 10saving additional cash into a general savings fund
- 11Using online financial planning and FIRE calculators
- 12Consulting local forums in the target retirement country for cost of living estimates
- 13Budgeting as if remaining in the US and treating lower cost of living areas as a bonus
- 14Increasing retirement contributions
- 15Relying on a partner's shared income
- 16Using brokerage stocks for emergencies
- 17Paying off credit card debt and building an emergency fund
- 18continuing to manage rental properties to generate income
- 19snowbirding and renting an apartment part-time
- 20attempting to map out assets, liabilities, and estimated spending
- 21Asking for peer grading and advice on financial forums
- 22Adjusting retirement contribution percentages
- 23Paying extra principal on the mortgage
- 24Doing napkin math projections
- 25Planning for a spouse to pick up a part or full-time job once children start school
- 26Saving aggressively in brokerage accounts
- 27Planning to rely on future mortgage payoff to reduce expenses
- 28Delaying retirement until Medicare or Social Security age
- 29Trying to build tighter budgets using apps like YNAB
- 30Working extra shifts to bring in supplemental income
In their words
Unedited, most upvoted first, each linked to the thread it came from.
“i just started 5 years ago, but took out 58k from 401 to down payment a house.”source ↗
“the question: am I working until I die?”source ↗
“Retirement is scary and telling you friends and family that "I just don't need to work anymore" gets you nothing but negative feedback.”source ↗
“Given all that context what I'm really asking is: Am I missing any major retirement pit falls?”source ↗
“I'm a little lost about the recent increase bond yields.”source ↗
“Financial check in as I'm worried about retirement.”source ↗
“We started late for retirement planning we know that and once wifey finds a job we will be investing heavily into the taxable brokerage.”source ↗
“I just turned 41 and halfway (or more hopefully!!) through my working years. I'd love advice on anything I could be doing differently or focusing on instead.”source ↗
“I personally wouldn't be comfortable retiring in 2027 with those numbers.”source ↗
“I am burned out AF in my corporate job and want to retire asap.”source ↗
“Has anyone else retired at 50 and how do you manage cash flow?”source ↗
“I live in a high cost of living area and don’t want to move.”source ↗
“Just wanting to get a sanity check on whether we're on track or not regarding retirement, ideally retiring closer to 60 rather than 65+.”source ↗
“Health insurance is the big thing when retiring at 60. If it wasn’t for that, I’d be more comfortable on our path.”source ↗
“Requesting feedback on readiness.”source ↗
“When can I safely retire”source ↗
“The problem is we just keep on adding money to the funds but we don't really know how much we'll have in the future.”source ↗
“Sadness, this checks out, I’m just hoping to figure a way to downgrade and stop sooner”source ↗
“I'm 45 and I could retire today, but my monthly outlays are still too high. There's, for lack of better terms, a lifestyle expectation that is combating my ability to hang up my spurs.”source ↗
“We would like to know how much retirements costs(?) since we don't really know what to expect.”source ↗
“But I feel like I’m extremely behind, but need your advice on what we could do to meet our goals. I feel like retiring at 56 isa long shot. How about at 62? Is it achievable?”source ↗
“My husband and I have a ten year age gap and I find it confusing to calculate how prepared we are for retirement with that gap in mind.”source ↗
“Whenever I calculate retirement preparedness I feel like its targeted at single people or only focused on one person. How do I calculate our joint preparedness when we have an age and income gap? Should we be putting more into his IRA than into mine since he is older than me?”source ↗
Where this came up
People with this problem also raised
- 3Should I lower my retirement contributions to save for a house?
- 9Is giving up a secure pension job worth it?
- 2When is the best time to do a retirement account rollover?
- 6Should I max my IRA or 401k first after a raise?
- 3How to handle 401(k) contributions and employer matches when changing jobs
- 4Is a small 401k loan a bad idea for cash flow?