At what age????

Question

At what age do people usually retire?

Answer 1

People usually retire at 50-60

Answer 2

I am 64+ and my wife is of the same age. Technically, I can and should have retired i.e from work and (according to the dictionary) withdraw. I find that there are more negatives in the definition than positives. When people think negative they act accordingly and this becomes a self fullfilling prophesy.
Two years ago when I "withdrew" (made redundant), I visited my bank's financial adviser. Following a "test", I was advised that the best strategy was to consolidate my superannuation, put half in term deposits and half in shares and still qualify for "unemployment" till retirement age i.e. 65. My wife already qualifies for age pension (for women 62.5)
I did some observations and calculations and figured
a) the figure was not based on me but some statistical average that say "old' people should and cannot take risk.
b) unemployment benefits is "demeaning" at least from the bureaucrats more concerned with doing their jobs "correctly" and giving you the run around. Many do not even understand the ever changing legislations.
c) I did a post graduate course and started to create my own "employment". It was too difficult to fight prejudices from so called enlightened employers. You get the usual polite nice rejects (something I am not use to and it starts to affect your self esteem)
d) I withdrew the term deposits up to what I am entitled without incurring further tax. I figured I can do a lot better with my considerable financial and computer knowledge.
e) In Feb 2005 my research tells me that the China boom is far from over. This will affect commodities and the large cap firms in this space would be BHP and RIO Tinto.
f) In turn the boom will affect the WA property markets in Australia.
g) I put my term deposits in BHP
h) I scouted and geared into two properties in WA in Oct 2005.
The rest as they say is now history.
I actually paid tax in retirement in 2006. In 1 and 1/2 years I made $400K (all above board). This is not a boast but more a testimony to inspire and not to retire. I do volunteer teaching to migrants and pre university students. I am on the committee. of the aged to advise on financial matters. In a weeks time I will be taking a months time off to complete my two properties then head home (a 5000 mile trip via the gulf of carpentaria) - a holiday come tax break for my efforts.
In summary: Fortune favours the brave. We do not have to take the kind of crap that others with less ability dishes out to you just because of your age. Animals with endoskeleton grow larger and are faster than animals with exoskeleton. I do not fancy myself as a tortoise or a crab: more a lion or a cheetah.
"Retirement" can be fun time. You are the master of your own destiny. Good Luck.

Answer 3

I know people who have retired in their 20s. I know people in theri 80s who are still working. I plan to work until I'm 70. At what age do you want to retire? What can you do to make that happen?

Answer 4

in this country you retire at age 65 and that's when the person gets paid when they retire

Answer 5

Around 65.

But some work longer and some retire earlier. Depends on each person's circumstances. What their company's pension plan is and what social security payments are for them.'

Answer 6

WELL IN THE U S A YOU CAN RETIRE AT 65 AND THEN GET MEDICARE FOR YOUR INSURENCE BUT S S IF YOU WERE BORN AFTER 1942 YOU HAVE TO BE 66 TO COLLECT FULL S S , YOU CAN COLLECT AT 62 BUT WITH 20% LESS
YOU CAN COLLECT AT 62 AND STILL WORK BUT YOU CAN ONLY MAKE ABOUT $12,000 A YEAR WORKING . IF YOUR 65 YOU CAN COLLECT AND WORK AND MAKE AS MUCH AS YOU WANT

Answer 7

Usually around 65 but by the time i get to that age it will be 105 and i will be dead.

Answer 8

some @ 65
some @ 70

ure entiled to a state pension usually from 60 but in many countries the longer you work on until the higher your pension from the govt. goes up.