How much would it take for you to retire/leave work

[Omaha 680]

your point stands, but I think $100 is not enough over time for house maintenance. So while it is POSSIBLE to do what she is doing, the margin is pretty slim and while she wouldn't have to live like a monk, it would still be a monastic-type existence. That said it is an intriguing experiment, but I would think that at that age she would have to have something to DO. Some motivating purpose for her life. Otherwise she ends up working really hard to not work for no good reason at all.

[Jeff Lebowski]

Median household income = $53K. $100K puts you in top 20%. In terms of retirement income, that probably puts you in the top 5-10%.

Did a little more digging on this. Among retired population in the US, median income is $30,480.

http://www.forbes.com/sites/janetnov.../#5f384436354f

Also, the median worker with an income over $100,000 has saved about $100,000. Also, only 64% of workers between the age of 55 and 64 have saved an amount equal to one year of income.

http://www.thinkadvisor.com/2014/03/...ement-disaster

So I would guess a six-figure retirement income is quite rare. Maybe 5% or less.

[Bo Diddley]

Did a little more digging on this. Among retired population in the US, median income is $30,480.

http://www.forbes.com/sites/janetnov.../#5f384436354f

Also, the median worker with an income over $100,000 has saved about $100,000. Also, only 64% of workers between the age of 55 and 64 have saved an amount equal to one year of income.

http://www.thinkadvisor.com/2014/03/...ement-disaster

So I would guess a six-figure retirement income is quite rare. Maybe 5% or less.

I've heard you can live on less money in retirement, but I don't see how people live on that much money. My biggest concern has been to save enough money to keep my wife's quality of life from suffering should I go first. I won't say what she'll get, because I don't want to brag.

[BigFatMeanie]

Sobering thought: My old man earns more in retirement from passive income than my active income...

[Jeff Lebowski]

Sobering thought: My old man earns more in retirement from passive income than my active income...

That's a good thing!

[BigPiney]

This discussion has prompted me to look more into my pension. I get at least a 2% cola every year after I retire. Not sure if that is common, but I like it.

[BigFatMeanie]

That's a good thing!

Good for him. Not so much for me. It makes me feel like I'll never measure up.

Also, he has vowed to donate it all to charity and die penniless...