Early Retirement [Pros and Cons]

[bayu7adi]

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.

In essence, having a business plan isn't a strong enough reason to achieve early retirement. Before deciding to retire, one should already "possess" a business with a clear projection of sustaining and growing over the next 10 or 20 years. It's even better if you have multiple business lines, ensuring a steady income reserve even if one of the businesses faces a downturn.

A significant challenge for an employee is the time and energy allocated to preparing for retirement. Indeed, employees often find it challenging to maintain a strong focus on a business venture since their time and energy are already committed to the company where they work.

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[philipma1957]

Even if you do some great thing and are wealthy at 40 after being not wealthy at 30.

Say you purchased 1000 btc for 6 bucks a coin. or 6,000 usd then sold them all at 67,000. You have about 67,000,000 pre tax.

You pay the tax in the USA about 20,000,000 leaving you 47,000,000 in 2021 and you grabbed 1,000 coins back at  16,000.  The cost is 16,000,000

You now have  31,000,000 and can do a lot with yourself.

 But I know I would not do

travel
fine dining
Broadway shows
concerts

and nothing else > it would be boring to me. I would still post here with a new name maybe.  But I would post.

[Arenga pinnata]

Early retirement does sound very pleasant if we are in a situation of exhaustion due to work. Sometimes we imagine relaxing would be more fun. But as in the news in the OP, sometimes retirement can make someone feel bored. And in the end they miss work.

For me, early retirement will only happen when I have achieved financial freedom. This means I am free to choose whether to work or not. In essence, when I have financial freedom, I will do anything that won't bore me. Sometimes I work, sometimes I vacation, sometimes I relax. The point is that when you have financial freedom, it is better than just retiring early. Because financial freedom means we won't worry too much about money.

There is a clear difference between early retirement and financial freedom. And my choice is to have financial freedom at a young age before 40 years.

[slapper]

Early retirement does sound very pleasant if we are in a situation of exhaustion due to work. Sometimes we imagine relaxing would be more fun. But as in the news in the OP, sometimes retirement can make someone feel bored. And in the end they miss work.

For me, early retirement will only happen when I have achieved financial freedom. This means I am free to choose whether to work or not. In essence, when I have financial freedom, I will do anything that won't bore me. Sometimes I work, sometimes I vacation, sometimes I relax. The point is that when you have financial freedom, it is better than just retiring early. Because financial freedom means we won't worry too much about money.

There is a clear difference between early retirement and financial freedom. And my choice is to have financial freedom at a young age before 40 years.

Retirement? Boredom? Everything here is relative. Some people might find relaxation in the mundane life, while others, like you, seem to thirst for something more, something... limitless. It makes sense to me. Taking an early retirement is an outdated idea from the past. And honestly? It's overrated! The old norms of business and labor are being rethought and rebuilt in today's environment. The grind of 9-to-5? Not everyone will enjoy it. To be financially independent is the real deal. Envision yourself, at age 40, in complete control of your life. Now that's power

And here's a fun fact: it's not simple. It requires planning, bold investments, and a sharp brain. And sure, while you're chasing that dream, don't forget to live a little. Get a good work-life balance by mixing in some downtime and adventures. In the end, it's all about being unstoppable, right? When you can live your life exactly how you want, early retirement seems unnecessary

[dothebeats]

Early retirement does sound very pleasant if we are in a situation of exhaustion due to work. Sometimes we imagine relaxing would be more fun. But as in the news in the OP, sometimes retirement can make someone feel bored. And in the end they miss work.

For me, early retirement will only happen when I have achieved financial freedom. This means I am free to choose whether to work or not. In essence, when I have financial freedom, I will do anything that won't bore me. Sometimes I work, sometimes I vacation, sometimes I relax. The point is that when you have financial freedom, it is better than just retiring early. Because financial freedom means we won't worry too much about money.

There is a clear difference between early retirement and financial freedom. And my choice is to have financial freedom at a young age before 40 years.

Retirement? Boredom? Everything here is relative. Some people might find relaxation in the mundane life, while others, like you, seem to thirst for something more, something... limitless. It makes sense to me. Taking an early retirement is an outdated idea from the past. And honestly? It's overrated! The old norms of business and labor are being rethought and rebuilt in today's environment. The grind of 9-to-5? Not everyone will enjoy it. To be financially independent is the real deal. Envision yourself, at age 40, in complete control of your life. Now that's power

And here's a fun fact: it's not simple. It requires planning, bold investments, and a sharp brain. And sure, while you're chasing that dream, don't forget to live a little. Get a good work-life balance by mixing in some downtime and adventures. In the end, it's all about being unstoppable, right? When you can live your life exactly how you want, early retirement seems unnecessary

You have a good point here, one that I'm sure a lot of employees such as myself will easily agree to. Most of the people I am associated with who retired early stated that the reason for their early retirement is due to the work-life balance they fail to have access to and hence they want to make up for that and live their life free from any corporate responsibilities now. As much as I understand where they are coming from, I am worried for them as I know that some of them only relies on their previous work for their income, and hence it would surely be a bloody process once they stop having that, it makes me question if they can really enjoy life without having the assurance of a steady income. Personally, as much as possible, I'd like to keep working as it gives me the comfort of knowing that I have a stable source of income, as for the enjoyment part I can say that I am doing that just fine while working, it just takes good planning and balanced lifestyle, I don't have to give up one thing to enjoy the other.

[Razmirraz]

Early retirement must be based on strong reasons. Those who decide to retire early have various reasons, some are getting bored with the rules at work, there are those who want to manage their own business and there are also those who are lazy about doing the same activities every day. For those who want to manage their own business or want to form a new life to be more independent, early retirement is a good decision.
Many people retire early but don't have a clear reason why they made that decision, ultimately their lives become chaotic due to not having a regular source of income every month.

[gunhell16]

Early retirement must be based on strong reasons. Those who decide to retire early have various reasons, some are getting bored with the rules at work, there are those who want to manage their own business and there are also those who are lazy about doing the same activities every day. For those who want to manage their own business or want to form a new life to be more independent, early retirement is a good decision.
Many people retire early but don't have a clear reason why they made that decision, ultimately their lives become chaotic due to not having a regular source of income every month.

I just want to add to what you said: the other ones who want to retire at their early age are because they have to work, they are tired, or they don't want to reach 60 years old with their employer because they are old nuns and they will never enjoy it, even though they say they have a huge retirement fee.

So the other retirement is cautious and is really wondering if they will allocate their money when they are in their hands. They do not want to suffer just because in the long run they have suffered, and any of us do not want that, of course.

[Y3shot]

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.

Retiring early has its cons with the top of the least as finaiincial constrain especially during a challenge, except someone has a trust fund but if you don't the only way one can secure an early retirement is by putting certain things in place, like multiple streams of income importantly multiple passive income. In other to stay active its advised to pursue other passions and desires.

[jaberwock]

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.

Retirement is usually done at an older age. If it's done early, I think there is also another term for that. There are reasons on why an employee can do it and you already gave a few of them. Another main reason is they can't stand the environment that they are working with.

For those who don't have enough savings, I think they are still qualified to apply and work for another job. It's not wrong to treat our selves with the things that we are always dreaming of. We work hard for a long time so we deserved them. We can still sell them if we are in trouble financially and we wouldn't regret it totally because we already experience using them.

[Hamphser]

Early retirement does sound very pleasant if we are in a situation of exhaustion due to work. Sometimes we imagine relaxing would be more fun. But as in the news in the OP, sometimes retirement can make someone feel bored. And in the end they miss work.

For me, early retirement will only happen when I have achieved financial freedom. This means I am free to choose whether to work or not. In essence, when I have financial freedom, I will do anything that won't bore me. Sometimes I work, sometimes I vacation, sometimes I relax. The point is that when you have financial freedom, it is better than just retiring early. Because financial freedom means we won't worry too much about money.

There is a clear difference between early retirement and financial freedom. And my choice is to have financial freedom at a young age before 40 years.

Retirement? Boredom? Everything here is relative. Some people might find relaxation in the mundane life, while others, like you, seem to thirst for something more, something... limitless. It makes sense to me. Taking an early retirement is an outdated idea from the past. And honestly? It's overrated! The old norms of business and labor are being rethought and rebuilt in today's environment. The grind of 9-to-5? Not everyone will enjoy it. To be financially independent is the real deal. Envision yourself, at age 40, in complete control of your life. Now that's power

And here's a fun fact: it's not simple. It requires planning, bold investments, and a sharp brain. And sure, while you're chasing that dream, don't forget to live a little. Get a good work-life balance by mixing in some downtime and adventures. In the end, it's all about being unstoppable, right? When you can live your life exactly how you want, early retirement seems unnecessary

You have a good point here, one that I'm sure a lot of employees such as myself will easily agree to. Most of the people I am associated with who retired early stated that the reason for their early retirement is due to the work-life balance they fail to have access to and hence they want to make up for that and live their life free from any corporate responsibilities now. As much as I understand where they are coming from, I am worried for them as I know that some of them only relies on their previous work for their income, and hence it would surely be a bloody process once they stop having that, it makes me question if they can really enjoy life without having the assurance of a steady income. Personally, as much as possible, I'd like to keep working as it gives me the comfort of knowing that I have a stable source of income, as for the enjoyment part I can say that I am doing that just fine while working, it just takes good planning and balanced lifestyle, I don't have to give up one thing to enjoy the other.

To those who do make out some decision about having those kind of early retirement then for sure they would really be that confident on the time that they would really be seeing that they could be able to sustain

themselves on the time that they would retire onto their dayjob which they do know that this is their main source on which means that they might really be having other income source which is really not totally
relying or depending with their job and now that they have decided on retiring and minding about having their time to mingle and go out which they hadnt done before due to nature of work
then its not really bad to have those kind of aims as long you arent that risking out that much about your finances or you do know that you could really be able to sustain on that.

We do know that its not really that something enjoyable if you do really just that pushing yourself on working until you do get old and with those retirement money or amount
on which it is something that you cant really be cherish out because of your body condition and this might be one of the reasons on why people do really retire early.

[CryptopreneurBrainboss]

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.

Nobody should retire from making money but retiring from working is what the dream is. When you retire, you stop working actively for money but your money can always work for you until you die. It's smart to retire early and I don't see any problem with that provided you have made enough money to consider yourself to be financially free and to keep that status of been financially free, you have to make investment that generate money for you without you been actively present. Everyone desire an early retirement so they can spend time with their loves ones or do things they love but to enjoy that, we have to make use of our early days in service (working) to make investment that'll help use retire early.

If you're not yet financially stable (that you can't live without depending on steady salary) then there's no need to retire. Don't get pressured by those doing it because you don't have the same financial backing that they do. We need money to live comfortably and if you don't have the opportunity that others have to leave off money made from their investment then keep working until you have been able to save enough money for investment then you can retire. When you're financial set for life you won't see any Cons for retiring early but only Pros as it gives you more time to follow your dreams and explore the world from a different point of view.

[bocyaj]

Early retirement is not the correct option,because you can earn after the retirement.But the sudden medical expenses you need to sell some assets or stock which will push you backward a decade.So it’s better option to work atleast till your 50 years which help you with the medical insurance which was covered from you salary.The medical was the unexpected one for now,even my mother and father had get into the health problems.Being a freelancer,I had suffered a lot to manage the funds for medical expenses.

[darkangel11]

Even if you do some great thing and are wealthy at 40 after being not wealthy at 30.

Say you purchased 1000 btc for 6 bucks a coin. or 6,000 usd then sold them all at 67,000. You have about 67,000,000 pre tax.

You pay the tax in the USA about 20,000,000 leaving you 47,000,000 in 2021 and you grabbed 1,000 coins back at  16,000.  The cost is 16,000,000

You now have  31,000,000 and can do a lot with yourself.

 But I know I would not do

travel
fine dining
Broadway shows
concerts

and nothing else > it would be boring to me. I would still post here with a new name maybe.  But I would post.

Posting here is not work

I wouldn't need 30 million to retire and feel wealthy. Where I live, you're really wealthy if you have $2 million in properties. You don't even need that much in the bank. A typical house is worth 500k, so with $1 million (or the same amount of EUR) you can buy a house and 2 rental apartments that can pay all your bills. You can spend the other million on whatever you like like travel, cars, schools for your kids, whatever fits your lifestyle.

Let's say I'd sell all my bitcoin at high price and have 2 million in cash to spend on whatever I want.

1. I'd never work again that's for sure.
2. I'd never be bored. I have so many hobbies that I'd spend years doing the things I love.

[stomachgrowls]

Early retirement is not the correct option,because you can earn after the retirement.But the sudden medical expenses you need to sell some assets or stock which will push you backward a decade.So it’s better option to work atleast till your 50 years which help you with the medical insurance which was covered from you salary.The medical was the unexpected one for now,even my mother and father had get into the health problems.Being a freelancer,I had suffered a lot to manage the funds for medical expenses.

You wont really be finding yourself to have those kind of problems when it comes to medical expenses if you do have just put up some budget on medical insurances on which we know that it does really give out that kind of

benefit specially if you do know that one of your family members are really that having those kind of body conditions specially when we do get old on which you would really be somewhat lessen up the burden since you do know that there's something that supporting it.Speaking about early retirement then it would really be totally depending on someones preference because there are ones who do love their work or job on which
even on the time that retirement age had been hit up, they do still refuse on retiring just because of that love of work but since efficiency is already that affected then agencies or companies would really be
needing to lay off to those old workers.

The pros on retiring early is that you could really be still be able to enjoy on the time that you had left specially if you could still travel and your body isnt really
that suffering by any sickness or some issues unlike when you do retire of being old then you cant really be able to enjoy that much your retirement life.

[arabspaceship123]

It's the same thing that happens to millionaires like Mark Cuban, who after selling a company and retiring for a while decided that spending all day playing golf wasn't his thing.

And it's good that they made the decision to go back to work because having many millions, all the time in the world and being bored can land you in a detox clinic, or even more, dead from overdosing.

Every body want to retire early. Who wants to work when they're old. It isn't a problem wanting to work in old age if you're getting bored but feeling you've got to pay bills so you've to work isn't good for health. Controlling when you're going to work's the key.

In the end the good thing about being rich and being able to retire is that if you feel like it you can retire for a season, like a long vacation that can be a year if you want. Then when you come back you work in what you like, what motivates you and with the schedules you set for yourself. It is very different to work for someone else on a fixed schedule that they impose on you and because you need money to eat than to work on something you like the way you plan it yourself.

Setting schedules or lengths of vacations isn't some thing most ppl can do. It's something we dream about. If you're rich you're able to set all dates timetables to suit what ever you're life allows. You can't retire unless you're going to have an amount of physical actvity or else you'll suffer from boredom.

[Casdinyard]

It's not necessarily the "retiring early" that we're actually looking for at this point. We're searching for the comfortability that retiring early brings. We want to live everyday not having to drag ourselves to work to a job that pays us peanuts. We wanted so much more than just being a statistic in the system and doing what we're told until we either get fired or die. There's no cons in a living state like that. A lot of us will choose that life over working every day even if we're given the choice of living comfortably in both scenarios, cause at the end of the day we wanted stability, we wanted to live our lives not having to depend upon employment in order to survive.
When that's taken care of, we're able to really look into what we wanted to do with our lives, that's why we see people who have just retired going back to work, that doesn't mean their well has run dry, it just means that they are able to take that leisure of going to work not for the sake of money but for the sake of working.

[blockman]

Early retirement is not the correct option,because you can earn after the retirement.

It is the mistake of many people that I've seen that they've regretted. There's no such as early retirement if you're going to rely on your retirement funds.
Take the example of richest people in the world, they have the ability to retire whether it's an early retirement or not but they are capable of doing that but just being themselves despite being billionaires, they are not retiring.
Well, for a simple living person having that much riches you'll definitely have to choose your retirement and live at peace until you die. But that's not the case for these borned businessmen as it's like embedded into their genes to never stop working.

[Smartvirus]

Early retirement is not the correct option,because you can earn after the retirement.But the sudden medical expenses you need to sell some assets or stock which will push you backward a decade.So it’s better option to work atleast till your 50 years which help you with the medical insurance which was covered from you salary.The medical was the unexpected one for now,even my mother and father had get into the health problems.Being a freelancer,I had suffered a lot to manage the funds for medical expenses.

Early retirement isn’t a very patronized idea for me. While you try to seek early retirement, there is so much that you could do with your youthful strength and intelligence.
Youth is a time to build, to channel not just your youthfulness but resources as well to the development of yourself in the things you can archive through what you have available at your disposal.

Retirement is an idea that comes in play when you can no longer do those things that you could easily do with your youth and thus rely on what you’ve built through your lifetime for survival.

I wouldn’t advice anyone to be in a haste and fast forward what would be in the time due.

[Ben Barubal]

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.

Retirement is usually done at an older age. If it's done early, I think there is also another term for that. There are reasons on why an employee can do it and you already gave a few of them. Another main reason is they can't stand the environment that they are working with.

For those who don't have enough savings, I think they are still qualified to apply and work for another job. It's not wrong to treat our selves with the things that we are always dreaming of. We work hard for a long time so we deserved them. We can still sell them if we are in trouble financially and we wouldn't regret it totally because we already experience using them.

      That's correct, this senior gentleman caused my former coworker at one of our local government offices to retire at the age of 60. When he finally did, he continued to hunt for a job while he was awaiting his retirement benefit since he didn't want to rely on his children's assistance.

      As long as he is able to, he will continue to work; nevertheless, don't put a hardship on his kids. However, it is rumored that his goal is to leave his children the retirement money he would receive in order to start a microbusiness, etc.

[dothebeats]

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.

Retirement is usually done at an older age. If it's done early, I think there is also another term for that. There are reasons on why an employee can do it and you already gave a few of them. Another main reason is they can't stand the environment that they are working with.

For those who don't have enough savings, I think they are still qualified to apply and work for another job. It's not wrong to treat our selves with the things that we are always dreaming of. We work hard for a long time so we deserved them. We can still sell them if we are in trouble financially and we wouldn't regret it totally because we already experience using them.

Good point here. Yes, there are various reasons why individuals chooses to retire early as every single one of us have different situation that some may not be able to understand. I'm sure no one will just retire without a valid, especially if they are aware that their job is the main source of their income.

Your example reminds me of an elder I know who retired due to old age, but since he's still physically suitable for work he found other easier job with shorter working hours to spend his free time in and make more money that can provide for his everyday needs.