Early Retirement [Pros and Cons]

[OgNasty]

I don’t think anybody truly retires young, they just stop having to work for people for money. Most of the “retired” people I know have replaced their jobs with other things. Sometimes relationships with people, sometimes hobbies, sometimes with a new business they run themselves for fun. I think retirement isn’t exactly a black or white thing.

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[kingvirtus09]

If there are employees who want to retire early, it means they already have good savings accumulated, or their plan is to build a business with their retirement pay. That's good if they can stick to their planned plans. Because if not, they might say to themselves in the end "I wish I hadn't retired early".

Because I have seen a lot of people who retired early, they didn't make their plans, or others who built a business didn't grow or manage the business they built properly, and the rest of the retirement pay they received just went to luxury and unnecessary things that did not produce income for them.

[YOSHIE]

My understanding is that early retirement is not someone's dream, the country could lose if many of them choose to retire early, unless: there are serious obstacles and problems faced by these users, for example, illness and other things, generally speaking, early retirement can have a bad impact on the country's economy, where they have to re-recruit employees to be hired, recruiting new employees drains a large budget for each recruitment.

As you said below is correct.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

By maintaining good work values ​​and activities, it will have a positive impact on users and the country itself. Early retirement can be detrimental to the country as a whole from an economic perspective.

[barisbilgili]

If there are employees who want to retire early, it means they already have good savings accumulated, or their plan is to build a business with their retirement pay. That's good if they can stick to their planned plans. Because if not, they might say to themselves in the end "I wish I hadn't retired early".

Because I have seen a lot of people who retired early, they didn't make their plans, or others who built a business didn't grow or manage the business they built properly, and the rest of the retirement pay they received just went to luxury and unnecessary things that did not produce income for them.

We need to think really well before making the decision to retire early and of course we already have a good plan after we take early retirement, what will we do with the money we get from early retirement. You are right that everyone who makes the decision to retire early certainly has enough savings to use if they want to build the business they want.
If we make the decision to build a business then we need to understand the business we are going to build so that we don't just run out of savings with a business that we can't run well and something like this will be very detrimental to ourselves.

[Natsuu]

I wouldn't have anything against retiring today, but only on the condition that I have enough money to be able to do the things I want and with which I certainly wouldn't be bored. Unfortunately, many people who do not have to work (for some reason) and have a lot of money, often do not know what to do with themselves, which can be a big problem.

I think that many people dream of early retirement because they do jobs they don't want to do or hate those same jobs from the bottom of their souls, while others you can't force into retirement even when they have to do it by law. However, many see their workplace as something more than making money, whether they enjoy the work they do or the people they are surrounded by.

I think it is important that a person has a goal and an interest in life, and then it is not a problem if for some reason he/she retires early.

I remember Ray Dalio saying. In your twenties explore all the things you can explore and find that one thing that excites you the most then master it. He then later said, don't forget to figure out how can you make money out of it. I think blessed are those people who find their job and passion as one. Or they are just simply hard-working and disciplined people who do things that the crowds aren't doing. When they work, they do it with finesse like it doesn't seem like work to them. They are just playing.

I think that's the greatest benefit of doing what you love, plus being paid for it.

[teosanru]

I read a very interesting article that actually happened very realistically.

retiring early is the new American dream. Imagine working for 15-20 years (instead of 40 years), investing half your income and retiring in your 30s or 40s. But a few early retirees have found out that it’s not as amazing as they thought it would be. We chatted with a few people who retired early — and then realized retirement wasn’t for them and started working again.

- I Wanted To Continue Providing Value
While retiring conjures up images of spending all day on the beach, many early retirees don’t feel satisfied doing nothing.

- I Wanted a Challenge
Retirement removes the challenges that work presents, which can be a good thing, but may also lead to boredom and a lack of purpose. Early retirees who have gone back to work respect the challenge of working for a business.

- I Wanted More Financial Security
Retiring early takes long-term discipline and a large enough nest egg to support your needs for the rest of your life. Sometimes early retirees simply didn’t have as much as they thought they needed or wanted more money to feel secure.

- I Didn’t Want To Retire, I Just Needed a Vacation
When you’re stuck in the daily grind, you might feel like the only escape is retiring from work forever. But in some cases, you are simply working too hard and need a long vacation.

- I Have a Passion for Entrepreneurship
Once you are retired, you have more time to pursue your passions. For some, those passions include entrepreneurship and running a business.

Read More: https://www.msn.com/en-xl/money/other/i-retired-early-and-regretted-it-why-i-went-back-to-work-to-continue-building-wealth/ar-AA1fBYHz?ocid=hpmsn&cvid=f2c759f9480f49fea02aa0d8288cc290&ei=16

this story is the same as what my cousin experienced, he retired early (at the age of around 35 years) now he is around 45 years old but there is an illness he is suffering from and he has to get proper treatment which quite expensive, so he sold some of his valuables and also withdrew his investment in shares.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

I really don't have a problem with early retirement but what I have realised about career is it's something that helps you get a motive in your life. Which means after retirement your life would be very motive less. Unless you are someone who can actually create a motive out of anything then It's different otherwise it's not really a wise decision to retire early, instead work for your passion instead of just money which is a better choice.

[macson]

I remember Ray Dalio saying. In your twenties explore all the things you can explore and find that one thing that excites you the most then master it. He then later said, don't forget to figure out how can you make money out of it. I think blessed are those people who find their job and passion as one. Or they are just simply hard-working and disciplined people who do things that the crowds aren't doing. When they work, they do it with finesse like it doesn't seem like work to them. They are just playing.

I think that's the greatest benefit of doing what you love, plus being paid for it.

great example, i immediately found out about him.

Ray Dalio is the founder of the world's biggest hedge fund firm, Bridgewater Associates, which manages $124 billion.

Dalio retired as co-CEO of Bridgewater in 2017 and stepped away as chairman and co-chief investment officer in 2021 and 2022, respectively

Dalio grew up in a middle class Long Island neighborhood and started playing the markets at age 12, getting tips from golfers for whom he caddied.

In 1975, after earning an MBA from Harvard Business School, he launched Bridgewater from his two-bedroom New York City apartment.

Dalio has given more than $1 billion to philanthropic causes. His Dalio Philanthropies has supported microfinance and public education.

[1] https://www.forbes.com/profile/ray-dalio/?sh=427a7a36663a

Dalio retired as CEO at the age of around 68, it is clear that it never crossed his mind to retire at such a young age.  Dalio has a passion for making money so he doesn't see the activities he does as work, it's a hobby, his thoughts really inspire me more and more, what he does is 100% the right decision.

[TimeTeller]

My understanding is that early retirement is not someone's dream, the country could lose if many of them choose to retire early, unless: there are serious obstacles and problems faced by these users, for example, illness and other things, generally speaking, early retirement can have a bad impact on the country's economy, where they have to re-recruit employees to be hired, recruiting new employees drains a large budget for each recruitment.

As you said below is correct.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

By maintaining good work values ​​and activities, it will have a positive impact on users and the country itself. Early retirement can be detrimental to the country as a whole from an economic perspective.

There will always be young blood who can replace your work. But you can always be the consultant or guiding force to these younger gen.
If you feel you need to retire from your daily job, why not? But you can always pursue where you are passionate of.
Because if you retire, and you won't do anything afterwards, I guess, you won't be very much happy, unless, you have lined-up your things to do that have been paused because of your job.
And do remember, not all people can afford to retire early. So don't worry about its significant impact on the economy of the country.
They will always find a way how to augment what's missing within their community. It is not the end of their lifeline.

[topbitcoin]

My understanding is that early retirement is not someone's dream, the country could lose if many of them choose to retire early, unless: there are serious obstacles and problems faced by these users, for example, illness and other things, generally speaking, early retirement can have a bad impact on the country's economy, where they have to re-recruit employees to be hired, recruiting new employees drains a large budget for each recruitment.

As you said below is correct.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

By maintaining good work values ​​and activities, it will have a positive impact on users and the country itself. Early retirement can be detrimental to the country as a whole from an economic perspective.

There will always be young blood who can replace your work. But you can always be the consultant or guiding force to these younger gen.
If you feel you need to retire from your daily job, why not? But you can always pursue where you are passionate of.
Because if you retire, and you won't do anything afterwards, I guess, you won't be very much happy, unless, you have lined-up your things to do that have been paused because of your job.
And do remember, not all people can afford to retire early. So don't worry about its significant impact on the economy of the country.
They will always find a way how to augment what's missing within their community. It is not the end of their lifeline.

There is no such thing as early retirement for those of us who are not yet financially free who have enough savings or have enough investment to be able to guarantee life after early retirement. I always ask my friends, some of whom really want to do this (retire early), so as soon as possible I will make them aware so that they can think about it again and can consider it again wisely. And the question I asked was quite simple, "Are you sure you want to retire early? Even if you work, your needs can still be met, especially if you retire early, do you just want your life to be even more miserable?"
And long story short, thanks to the questions I asked, I was able to make them aware so that they were no longer careless in making decisions.

[palle11]

maybe if your cousin invests more and has insurance maybe he can still continue to retire, everything has pros and cons, But im still prefer early retirement.

If you want to early retirement then you should have proper things like passive income one of the example is investing in dividend stock which can get dividend each quarter or every year. If you decide retire without passive income that will be bad.
The other case while you have passive income create new business it could be social media business like nowadays or sell something

Retirement or early retirement has pros and cons like you mentioned the most important thing is financial security because you need money more when you are out of job because now you will be running expenses to cover the work hours that you are now free. So you need solid investment that you can rely on, online business and physical business are all good depending on the one you are proficient in. Early retirement is good for people who have entrepreneurial skills so that they can also build their own businesses but those who don't have the skill of standing out on their own are those who don't really appreciate it.

[lixer]

I don’t think anybody truly retires young, they just stop having to work for people for money. Most of the “retired” people I know have replaced their jobs with other things. Sometimes relationships with people, sometimes hobbies, sometimes with a new business they run themselves for fun. I think retirement isn’t exactly a black or white thing.

That's right, a retirement doesn't need to be specifically about leaving a job that you've been doing for many years in your life and then sitting at home and living your life off of the money that you might get as a pension. People might also retire because they want to do something of their own, they might have found a way that can earn them passive income and they won't need to do a job anymore, they might have won a lottery and can live their lives happily without having to work anymore.

If we talk about retirement at a young age, I think only a person who has acquired a lot of money when they are very young might stop working but they will still have ways to earn more money, they will probably have a lot of businesses set up around the world which keeps earning them more when they enjoy their life.

[safar1980]

maybe if your cousin invests more and has insurance maybe he can still continue to retire, everything has pros and cons, But im still prefer early retirement.

If you want to early retirement then you should have proper things like passive income one of the example is investing in dividend stock which can get dividend each quarter or every year. If you decide retire without passive income that will be bad.
The other case while you have passive income create new business it could be social media business like nowadays or sell something

Retirement or early retirement has pros and cons like you mentioned the most important thing is financial security because you need money more when you are out of job because now you will be running expenses to cover the work hours that you are now free. So you need solid investment that you can rely on, online business and physical business are all good depending on the one you are proficient in. Early retirement is good for people who have entrepreneurial skills so that they can also build their own businesses but those who don't have the skill of standing out on their own are those who don't really appreciate it.

Do you have fines for a person not working?
I don’t understand why you talk about retirement and then talk about online business. I know that if a pensioner works, then the pension fund may freeze or reduce his pension if the pensioner decides to officially work or engage in business.

[Flexystar]

I think retiring early is very bad plan. I would literally die off boring moments! Without challenges, without spark or vision in front of my eyes I can’t even think about life in me. It’s literally not possible to live just like that drinking, sleeping and enjoying the life 24x7. Without the purpose I would go crazy for sure. I believe having purpose makes real sense to us and this is what taught us since our childhood. You know we do big and small chores all the time, learn new things, work ourselves to make fortune and much more. These habits won’t go just like that. Moreover it’s also important to understand that once we go into work life we get used to it and can’t just let it go. 

[safar1980]

I think retiring early is very bad plan. I would literally die off boring moments! Without challenges, without spark or vision in front of my eyes I can’t even think about life in me. It’s literally not possible to live just like that drinking, sleeping and enjoying the life 24x7. Without the purpose I would go crazy for sure. I believe having purpose makes real sense to us and this is what taught us since our childhood. You know we do big and small chores all the time, learn new things, work ourselves to make fortune and much more. These habits won’t go just like that. Moreover it’s also important to understand that once we go into work life we get used to it and can’t just let it go. 

If you have a good pension, then you can engage in any non-profit projects, charity or art. You can even play sports professionally. When you don't have to go to work every day to be stressed because so many people don't like their jobs.

[batang_bitcoin]

I don’t think anybody truly retires young, they just stop having to work for people for money. Most of the “retired” people I know have replaced their jobs with other things. Sometimes relationships with people, sometimes hobbies, sometimes with a new business they run themselves for fun.

Right, retired from corporate job but still continues to work with something else where they're their own boss. And it's much easier on this era because we've got Uber, food deliveries, car pools, etc. With those opportunities, it doesn't limit the age of the people that can work for those jobs.

I think retirement isn’t exactly a black or white thing.

It's becoming a word that literally means to resign or retire from the corporate world.

[Mate2237]

Retiring at the age of 50 or 55 is not too good because at that time the person is still strong to carry out activities. Though every country has their service years and age to be retiring workers. My country if you work in the Civil Service for 60 year of age as of the person age, then the person will be retired from active service but if the person service is still needed then, the institution would still hire him to carry out some specific service until the person himself says, he could not again then he would remove from the institution and replaced by another person.

[BigBos]

Actually in this case early retirement is not too prohibited either because if you feel able to do it then I think it can still be done or maybe there are some conditions that require us to retire early it can also still be thought of but for this there are many considerations that we have to do because in the end early retirement we not only have to think about today and tomorrow but for a longer term than that.
Suppose we are at the age of 35 and decide to retire then have we prepared for our future provisions? especially for those who already have a family because the needs are not only for them but for families who must definitely be thought of starting from children's education or daily needs for us and our families whether the finances we have are enough to accommodate it for the rest of our lives.
Personally, as long as I am still able to work and do business like today, I will continue to do that because I realize that my dependents are still very large, especially since I am still not sure that my current finances are able to handle the needs of me and my family if I retire early.

[Renampun]

Retiring at the age of 50 or 55 is not too good because at that time the person is still strong to carry out activities. Though every country has their service years and age to be retiring workers. My country if you work in the Civil Service for 60 year of age as of the person age, then the person will be retired from active service but if the person service is still needed then, the institution would still hire him to carry out some specific service until the person himself says, he could not again then he would remove from the institution and replaced by another person.

Even though I think your opinion is a little off base (because we are discussing early retirement here) I am also interested in discussing this.

I think it is vulnerable to manipulation (re-employing people who have retired will only make young workers lose opportunities). Our country has its own rules regarding civil servants who retire, they are no longer given work, but usually before retiring they will be directed to look for side income in preparation for the moment when their retirement time arrives.

[Lantind]

maybe if your cousin invests more and has insurance maybe he can still continue to retire, everything has pros and cons, But im still prefer early retirement.

If you want to early retirement then you should have proper things like passive income one of the example is investing in dividend stock which can get dividend each quarter or every year. If you decide retire without passive income that will be bad.
The other case while you have passive income create new business it could be social media business like nowadays or sell something

Retirement or early retirement has pros and cons like you mentioned the most important thing is financial security because you need money more when you are out of job because now you will be running expenses to cover the work hours that you are now free. So you need solid investment that you can rely on, online business and physical business are all good depending on the one you are proficient in. Early retirement is good for people who have entrepreneurial skills so that they can also build their own businesses but those who don't have the skill of standing out on their own are those who don't really appreciate it.

If we choose to take early retirement then we need to have enough savings to be able to use it to build a business after we no longer want to work as employees. Everyone who chooses to take early retirement of course they have different reasons, but if they don't think about it What will they do after they no longer work as employees Of course they don't need to take early retirement, it's better if they continue working at the place where they work as employees.

[xSkylarx]

maybe if your cousin invests more and has insurance maybe he can still continue to retire, everything has pros and cons, But im still prefer early retirement.

If you want to early retirement then you should have proper things like passive income one of the example is investing in dividend stock which can get dividend each quarter or every year. If you decide retire without passive income that will be bad.
The other case while you have passive income create new business it could be social media business like nowadays or sell something

Retirement or early retirement has pros and cons like you mentioned the most important thing is financial security because you need money more when you are out of job because now you will be running expenses to cover the work hours that you are now free. So you need solid investment that you can rely on, online business and physical business are all good depending on the one you are proficient in. Early retirement is good for people who have entrepreneurial skills so that they can also build their own businesses but those who don't have the skill of standing out on their own are those who don't really appreciate it.

If we choose to take early retirement then we need to have enough savings to be able to use it to build a business after we no longer want to work as employees. Everyone who chooses to take early retirement of course they have different reasons, but if they don't think about it What will they do after they no longer work as employees Of course they don't need to take early retirement, it's better if they continue working at the place where they work as employees.

Most of our thinking about taking early retirement is to relax but you are right if you are not doing anything except going out to the beach after retiring for sure you'll get bored so having a business is better. This is also what I have noticed in retirees because if they quit their 8 p.m.–5 p.m. job and retire then that is the time they establish a business to provide them with another source of income.
 
As long as you are investing in a pension to prepare for your retirement  you are good but having a source of income after that is really good.