General Discussion
In reply to the discussion: Have Americans Given Up On Saving for Retirement? [View all]madville
(7,408 posts)I'm on my second government career and as it stands right now should be vested in the second pension in three more years. I would start drawing one at age 57 and the other at age 58 as it's going now. Have a matched retirement account that my employer matches 5% of my annual salary into, it's mainly in low-risk bonds. I will have to see what I'm doing and how my health is around age 62 and decide if I want the early Social Security benefit or not.
Personally I try to live simple, my one luxury is a modest 2012 vehicle because I don't really care to maintain older high mileage stuff like I have in the past. I have a home mortgage on a house that I currently have a tenant in so that's kind of neutral but it should be paid off by the time I retire so it may produce some income as well or I may move back there. Currently rent a room from a coworker in the city I had to move to for this current job but may buy another house here and maybe turn it into a rental down the road for another income property.
Of course one accident or medical condition could flush a bunch of that down the drain and bankrupt me anyway, still going to plan like it won't though, been lucky so far.