Joe and I are in the process of finding out what we're really worth, making goals and figuring out how we'll make our money get us to retirement. Now the really neat/scary thing is that we have planned for me to retire at 28! 28 you say? Before you get your panties in a twist, no we are not insanely rich, we have made the insane discision to hopefully have kids one day and I get to stay home with them.
Now I know it is 2007 and women don't have to just be stay-at-home mommies, but I really want to. My mom stayed at home with us while we were growing up and I think it was such a great blessing and we would like to do the same for our kids. Now does this mean I will never work again, um, yeah right...remember the demise of social security we keep hearing about...trust me I'll be back.
But, when we really do get to retirement, what will the O'Briens do? Some of the ideas include moving to Santa Fe and Joe starting up a woodworking shop, opening a sports facility for inner-city kids, Leanna creating a business with her buddy, Lydia, opening an animal shelter, moving to the coast, moving to the mountains, moving to the mountainous coast! ha!
Well, you get the picture. There are a lot of things we want to do when we grow up and we're excited about discovering how we can get there soundly and quickly!
Any one else out there with aspirations for retirement?
11 comments:
I can't wait to retire. 30-40 more years of this seems impossible! But, then again, I would also like to stay at home with my kids. Working at home right now puts me in an awkward situation. It seems ideal when we have kids, but it still means I have to work. :) I'd always like to be doing something, and even earning money. But sitting at the computer all day is not my first pick for that. Someday the entrepreneur in me (and you!) will come out, and we'll have a great time and make money doing it. :) We just have to stay in the same vicinity as each other. I'm dragging Jon to Colorado; wanna come with us? :)
Sounds super! Mountains, especially the Rockies are always more than fine with me!
Yes, I hear the siren song of retirement ... only it's a loud trumpet blast, "GET READY!!" It'll be here in 3 short years which is why I AM getting ready by building my Arbonne business now. I intend to have fun working with women I like 10-12 hours/week, take great trips with friends and family, make tons of money, and drive a MB! Anybody with me?
I haven't given too much thought to what I would do in retirement. I like to take naps in my 20s, I bet I'll nap a lot in my 70s. :-)
I'm with you on starting now, though. It's sometimes hard for us twenty-somethings to put away for retirement, but hey, we can work for it now so we don't have to work for it then. We can ENJOY... in the mountains, on the beach, wherever!
Naps! I love naps! Let's nap now and think about our retirement!
Yep, Karbo, we should all get started now. I am quite depressed at the NUMBER we have to shoot for to allow for all the aspirations Joe and I have (and not a whole lot) for when we retire.
IRAs are your friend. The Money Market is a LOT better than your bank as far as interest/gains. Taxes are evil!
and @ Carolyn - I'd rather my Corvette, but I'll tour the country with you! =)
My checking account gets 4.21% interest. No minimum balance. We don't have enough money for a money market with a good rate. But, yes, we've got the IRAs.
Well, checking usually does ok, it's the savings account. I don't like all my money to be in my checking, easier for someone to get to...at least in my paranoid little mind.
So for someone to so quickly spit out this bank info, why do you find your job not to your liking! =)
Well, I think you know why I don't like the bank job...
And if it weren't for the 4.21%, I'd switch banks in a heartbeat (now that I don't work there). But no one else in town is paying that kind of rate.
Tim and I were talking retirement before we even got married. Retirement money that is. It's smart if you have even the smallest of savings to invest some time into researching IRA's. These are very important gifts that we in our younger years can jump on to and find we have a nicer retirement than expecting the government to actually have a Social Security program when we're that age. Anyways, another thought is the military. It may sound crazy but my father joined the military at a very young age. Traveled, did the kind of work he wanted...retired at 40...got another job. Continued working and then retired again. He doesn't really have to rely on the Social Security system either. He lives on the same monthly expenses Tim & I do, based off the interest of his investments. Savings is always smart. As far as thinking that in the 90's mothers who stay home are lame...certainly isn't the case. And even if they don't have the blessing of a "paid" position alongside of it, is a worthy cause indeed. Have fun dreaming.
Jon and I just set up an IRA and a savings account, both with 5.25% interest! We're thinking a little more short-term: we can take money out of the IRA penalty-free if it's for a house down payment. So that's the goal for us! Hopefully we'll be able to keep a little for retirement, as well.
So many things to think about!
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