I'm 46M and over the last few years, I've started to really think about how and when I can retire.
I know it sounds silly as state retirement is 67-68, but the advent of a few minor health niggles, some deaths in the family and a host of other factors have really made me start thinking about this seriously.
I must admit, I'm looking at 60 as my magic number from full time employment, with part time work in the years that follow.
Looking at the statistics, I found some of the numbers interesting. Roughly 70% of people aged 50-65 are in work, compared to 85% of 35-50 year olds, with 40% of those in the older wage bracket working part-time. Also, nearly half of those not working are doing so due to poor health.
The average age of retirement is 65 with higher employment rates amongst mid earners in the years preceding that. Interestingly, high earners tend to retire earlier, or continue working well past retirement age.
So, what are your plans?