We are meeting with our investment counselor in the next week or so to look at everything. We are young (33 and 37) so any market loss has time to correct, in my opinion. We each have a retirement plan with our jobs, both have Roth IRAs that have funds in them (not added to yet this year) and we have an investment account made up of mostly Exxon Mobile, IBM and some Berkshire Hathway (class B) stock. While the stock market took a hit, Warren Buffet kept BRK going, Exxon keeps doing well and IBM is doing ok. We do not plan on having social security available to us and if it is, it will be a boon.

We have life insurance on each other which I don't think is hurt by the economy. Right now, the amounts are sufficient and if one should pass, the house would be totally paid off with cash to spare. Like my dad said "I'm worth more dead than alive!"

I play around with the retirement calculators I find online. I don't want to work until I die and I would like to have time with DH to relax, be at home, and yet be young enough to do the things we want to do. Our goals (discussed not too long ago) is that if I am still working, I would retire first at 60 or 61 (DH would be 64) and then he would retire a year or two later at 65 or 66. He joked that he should retire at 60 and I could carry him until I'm 65. We will have to see who has the better retirement plan!

Of course, we are hoping we still have Medicare. I dont' think we can retire and then provide health insurance for years and years and years. Our goal has me covered until DH retires and then he is covered by Medicare and I would have 2-3 years of paying for my own policy. If either of us has health issues, this will change things.

I know I am young but this really interests me. We both look to our parents. My parents never traveled but my dad has yet to retire. My mom retired at 62 and my dad, at 74, is still working 40+ hours a week. My father in law does part-time consulting work (age 72) but it still gives him and my MIL have flexibility to do some travel (car trips, usually to see their brothers and sisters out of state). DH and I agreed that is what we would like to do. Maybe still work part-time but have flexibility that if we need to do home projects, we can do those or if we want to visit Chicago, we can hop in the car and drive there.

Neither of us plan on a grand retirement with vacation homes and the big travel to foreign lands. We just want the time.

mamasjob:

Neither of us plan on a grand retirement with vacation homes and the big travel to foreign lands. We just want the time.

Exactly!  The only travel we will be doing is to see kids & grandkids.  We are saving 30-50% of my paycheck to recover what losses we sustained from DH being laid off for a year in 2003-2004 & for the cut in salary he took with this job. The last two years were not friendly to our retirement funds, but the damage was less than that of the layoff.  As long as my health holds out, I should be able to work at least part-time or PRN indefinitely, whichgives us access to good medical coverage after DH retires.  The hospital I work for is an HCA affiliate, & HCA is very "older-worker" friendly.  They have an employee in the OR in Atlanta who is 96!

 I'm 27 and fully convinced that pensions/SS/Medicare/etc will all be completely bankrupt by the time I'm anywhere near retirement age. We're just working to become fully debt free and as self-sufficient as possible, so that retirement means we can raise our little herd of goats and be left alone other than paying the tax man.

My future is out the window might have to work until 70 my savings along with hubby is a no go.

hopefully everything will be paid off and social security is still around!   We have been paying into for years and will still been for many more.  

We do have some retirement funds but not enough and with young kids who will be in their early 20's by the time we are 65.  so savings lots of money per month is not going to happen.  We do put some away each month. 

So I am sure we will be working part time for love of it or money or a bit of both.  maybe successful hobbies. 

We have some savings but who knows what life will bring!