Plan to retire at 54 requires part-time work
At the age of 44, a woman we’ll call Nancy is on her own. Divorced, she has three children in their teens and a good job managing a products distribution unit of a multinational manufacturer.
She brings home $7,500 a month and adds what her ex-husband contributes for children’s expenses. Her plan: quit the corporate rat race in a decade and move to partial retirement with a bit of consulting work from time to time. But though she has substantial financial assets, she also has a $236,000 mortgage and three future university tuition bills to pay. Read More