Early Retirement [Pros and Cons]

[bakasabo]

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This means only your wife retired early. I always wonder, people who retire early, dont they miss daily or working routine? I understand that during first year or couple of years, people dont miss their work colleagues, routine of driving to work, getting a coffee on the way and etc. People that retire, they most likely narrow their circle of friend. If they havent saved a lot, for example to travel, they spend most of the time with their second half, family and few friends. But when you are at work, at least you get some news from colleagues. What I mean is, with retirement, the life somehow stops or pauses.

[arabspaceship123]

Who isn't dreaming of escaping the rat race. I'd like to work or invest today so I'll be able to retire early. I want to enjoy my old age I don't want hassles of finding money to pay for my living. You've retired in 66 or 67 but I'd like to retire when I'm younger.

You've found a cool balance to keeping busy so long as you're active you'll be enjoying your life for many years. Working 2 or 3 hours every day online gives you freedom to make your own hours that's the way I'd like to retire. If I can receive a pension with investment returns each month I'll say it's a success.

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This Sunday we went to the beach on the Jersey shore. Walked for 75 minutes. Then went to a restaurant ate German food then drove to Six flags great adventure and went to 3 shows of fright Fest along with a few rides,  A long exciting day.

Saturday it rained like mad we slept in . Played  for a few hours ate a brunch, The watched some old movies. I did some mining work on line. It is a good life as we no longer have the rat race to deal with.

[dothebeats]

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This means only your wife retired early. I always wonder, people who retire early, dont they miss daily or working routine? I understand that during first year or couple of years, people dont miss their work colleagues, routine of driving to work, getting a coffee on the way and etc. People that retire, they most likely narrow their circle of friend. If they havent saved a lot, for example to travel, they spend most of the time with their second half, family and few friends. But when you are at work, at least you get some news from colleagues. What I mean is, with retirement, the life somehow stops or pauses.

I think you're referring to those who are actually passionate about their job and are able to have a work-life balance. However, in contrast to your point, there are individuals who cannot wait to retire and finally live life and catch up to everything that they missed out on while they were too busy working.

[Juse14]

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This means only your wife retired early. I always wonder, people who retire early, dont they miss daily or working routine? I understand that during first year or couple of years, people dont miss their work colleagues, routine of driving to work, getting a coffee on the way and etc. People that retire, they most likely narrow their circle of friend. If they havent saved a lot, for example to travel, they spend most of the time with their second half, family and few friends. But when you are at work, at least you get some news from colleagues. What I mean is, with retirement, the life somehow stops or pauses.

I think you're referring to those who are actually passionate about their job and are able to have a work-life balance. However, in contrast to your point, there are individuals who cannot wait to retire and finally live life and catch up to everything that they missed out on while they were too busy working.

The choice of early retirement is not a priority issue, but if you weigh it, you have to wait until the specified time but you still don't get anything unclear because of your position. Well, it's better to just retire early, we can choose a job or start a business or we will carry out activities. A clearer investment and the benefits can be additional. Isn't that right? Well, our stupidity is that if we choose to retire early because we are tired of working and don't do other activities, don't do business, don't make grants, don't even do activities that add to other income, you will So it's a loss if you take early retirement but don't pay attention to the next steps.

[stomachgrowls]

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This means only your wife retired early. I always wonder, people who retire early, dont they miss daily or working routine? I understand that during first year or couple of years, people dont miss their work colleagues, routine of driving to work, getting a coffee on the way and etc. People that retire, they most likely narrow their circle of friend. If they havent saved a lot, for example to travel, they spend most of the time with their second half, family and few friends. But when you are at work, at least you get some news from colleagues. What I mean is, with retirement, the life somehow stops or pauses.

I think you're referring to those who are actually passionate about their job and are able to have a work-life balance. However, in contrast to your point, there are individuals who cannot wait to retire and finally live life and catch up to everything that they missed out on while they were too busy working.

The choice of early retirement is not a priority issue, but if you weigh it, you have to wait until the specified time but you still don't get anything unclear because of your position. Well, it's better to just retire early, we can choose a job or start a business or we will carry out activities. A clearer investment and the benefits can be additional. Isn't that right? Well, our stupidity is that if we choose to retire early because we are tired of working and don't do other activities, don't do business, don't make grants, don't even do activities that add to other income, you will So it's a loss if you take early retirement but don't pay attention to the next steps.

If there's an optional retirement then its a good option that you do have but this is unlikely to happen but on government agencies then this is something that would really be that offered but majority of those these
employees would really be opting not to retire early yet those pension and retirement amount wont really be that as big on what they could really be able to get when they do retire early and this is why its not really that ideal on making up such decision because you are really just that minding on cherishing out while you are young. Actually this is a personal preference since every person does have their own liking and decisions towards their life.

If you are really that have plans on making some investment or business rather than on getting old with your day job then go ahead and make it happen but make it sure that you should really be able to sustain
yourself and make those investment or business to be that fruitful because if you do make out some unwise spending with those retirement funds then sooner or later then you would really be
struggling on making a living or survival due to the fact that you dont really have any other source of income already on which you could really be able to depend on and this
is why it would really be that relevant that you should do the right decision into your life.

[Smartvirus]

I think you're referring to those who are actually passionate about their job and are able to have a work-life balance. However, in contrast to your point, there are individuals who cannot wait to retire and finally live life and catch up to everything that they missed out on while they were too busy working.

Catching up on the good and missed things of life?

Is there anything that is really stopping those with this idea of a catch up on life from doing it side by side… work sometimes and actually take times out for vacations and enjoy life from where they might have missed it?

Retirement isn’t something you decide if you ask me. It’s something that actually decides for you. Of course you get to make the call but, you make that call when your strength and sense are failing you. That’s when you know it’s right to retire.

No matter how much life you seek to enjoy, there are always a lot that would still float right pass you. Don’t be taken by the idea of you’ve accumulated enough, it’s never enough when you look at it from a generational point of view.

[shinratensei_]

the only thing that I think majority are not thinking when they are planning for early retirement is that they can get really bored if they don't have any meaningful things to build after they retire. maybe like business based on hobby or something. if its just retiring and you're doing nothing i'm sure 100% after 3 years you would be really bored, i've been reading about many younger generation planning fully retire in 30s.
while that's nothing wrong and if someone is really capable of earning money enough for fully retiring in 30s then i think they deserve it but they should have something they passionate about that they really want to do after retiring. that way they will still have income and also not getting bored while also being productive.

[lienfaye]

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.

Well, if you love your job don't retire early since you're not just working but also enjoying it. Otherwise, think if it's still healthy for you to stay or maybe retiring early is the best decision to do. It doesn't mean you'll do nothing after since you can still seek for another source of income alternative to working 8 hours a day. It can be being an entrepreneur so you holds your time, your profit and most importantly you're the boss.

Anyway whatever your decision, what matter is you plan for it and it's not a sudden decision. As you've said, if you're still capable to work then do it, because we'll never know what lies ahead. Retire if you're already confident as financially stable.

[philipma1957]

Who isn't dreaming of escaping the rat race. I'd like to work or invest today so I'll be able to retire early. I want to enjoy my old age I don't want hassles of finding money to pay for my living. You've retired in 66 or 67 but I'd like to retire when I'm younger.

You've found a cool balance to keeping busy so long as you're active you'll be enjoying your life for many years. Working 2 or 3 hours every day online gives you freedom to make your own hours that's the way I'd like to retire. If I can receive a pension with investment returns each month I'll say it's a success.

My wife and I are 66 and 67. She retired in 2012 at 55 after working at 1 job for 33 years.

I got my  pension last year. But I mine and make money in sales ands I am self employed for years.

I make my own hours. I would find it impossible to work 5 days a week 8 hours a day.  but 2 or 3 hours every day via internet and some trips to the mine 2-4 times a month I will likely do for years to come.

I like the work yet I also have a lot of time to spend with the wife.

This Sunday we went to the beach on the Jersey shore. Walked for 75 minutes. Then went to a restaurant ate German food then drove to Six flags great adventure and went to 3 shows of fright Fest along with a few rides,  A long exciting day.

Saturday it rained like mad we slept in . Played  for a few hours ate a brunch, The watched some old movies. I did some mining work on line. It is a good life as we no longer have the rat race to deal with.

I think this works for me and my wife because we get along been together 37 years and still like to hang out with each other.

My wife had a hard job IRS revenue agent. A shit ton of rules and regs to obey.  She found a lot of freedom when she went on pension.

[Kakmakr]

A lot of people go on early pension with a large single amount being paid out from something like a Provident fund and those are the people who might be struggling within the next 10 to 20 years. You have to remember that the amount you got paid, will be eaten by inflation over time... let's say the average inflation every year is say 10%... then your total inflation over 10 years will be 100%

So, within 10 years at an inflation of 10% per year... you Capital will be halved. You will have to find some investment option that will grow your capital by more than inflation and you should never take more money than what you gain from that.

So.. let's say you invested $1 000 000 and the inflation is 5% .... then your growth from your investment should be more that 5% ($50 000 per year or $4166 per month) ....just to beat inflation... then you still need to take live from the rest of the profit from that investment. 

Your best bet is to find some work with Pension benefits that pay you a monthly pension for the rest of your life and with a increase of a percentage that are higher than inflation. (cost of living) 

[Synchronice]

To be honest, having fun all the time is not really funny, at least for me. I think that when you are young, you should use that as an advantage, you own healthy body, full of energy, full of enthusiasm, why should you retire? It's your duty to do as much as possible while you are young, you will have time to rest when you'll become old.

Have you guys seen that footballers like Messi, were already millionaires in their teen ages. When Messi was 20 years old, he was earning $116,000 a week. Why didn't he retire when the contract expired? You see, he is 36 years old and still plays football. Life is not really only money and sleep or rest, you get high from doing things, from moving forward. Let's take Conor McGregor, his dream was to earn millions of dollars and retire but right now, he is trying to get back in MMA because he chases that high, it's amazing when you are at the top, even if you have to move your ass up and struggle a lot.

[L4rs_]

No idea what anybody could have against retiring. Having enough money to live until old age is a solid foundation to live a happy life. Of course it can "boring" and money actually isn't the main factor for happiness, but I would say it's a good start and so many people on earth could live worry-free if they didn't have to struggle for paying their bills.

[kojektea]

I think people retire early because they want to be financially free. Yes, but it's not easy, some people even have to retire early because illness means they can't work anymore. this is something we cannot even predict. I think everyone will retire eventually, but wanting to retire early means there is an allowance to continue living.

[inthelongrun]

the only thing that I think majority are not thinking when they are planning for early retirement is that they can get really bored if they don't have any meaningful things to build after they retire. maybe like business based on hobby or something. if its just retiring and you're doing nothing i'm sure 100% after 3 years you would be really bored, i've been reading about many younger generation planning fully retire in 30s.
while that's nothing wrong and if someone is really capable of earning money enough for fully retiring in 30s then i think they deserve it but they should have something they passionate about that they really want to do after retiring. that way they will still have income and also not getting bored while also being productive.

This would be the perfect plan after retiring. It's not like we retire from our regular job and just do nothing. Plus the monthly pension only happens once we are in our 60s which is a long time. We might still need to do something or invest for us to earn regular income. Having an apartment or building could be great since it can provide steady income while doing nothing but the cost might be too expensive and unaffordable to most people retiring in their 30s. Having a business coming from our passion even if it takes a lot of our time would be cool.

[Lanatsa]

the only thing that I think majority are not thinking when they are planning for early retirement is that they can get really bored if they don't have any meaningful things to build after they retire. maybe like business based on hobby or something. if its just retiring and you're doing nothing i'm sure 100% after 3 years you would be really bored, i've been reading about many younger generation planning fully retire in 30s.
while that's nothing wrong and if someone is really capable of earning money enough for fully retiring in 30s then i think they deserve it but they should have something they passionate about that they really want to do after retiring. that way they will still have income and also not getting bored while also being productive.

This would be the perfect plan after retiring. It's not like we retire from our regular job and just do nothing. Plus the monthly pension only happens once we are in our 60s which is a long time. We might still need to do something or invest for us to earn regular income. Having an apartment or building could be great since it can provide steady income while doing nothing but the cost might be too expensive and unaffordable to most people retiring in their 30s. Having a business coming from our passion even if it takes a lot of our time would be cool.

Retiring when you are at 30's? Pretty sure that it would really be unlikely specially if we do talk about into those people who are dealing with a dayjob considering that employment contract terms specially on a regular position would really be needing at least 20 years at service before you could really be able to make some decision on taking up retirement into your position and the fact that this is also one of the most common points on where a certain individual would really be finding their good stable job on which means that you are really just starting up with this kind of age on which it is really just that something that will really be not that common on having retirement on this kind of age bracket but rather the opposite one.

Its true that this would really be usually be playing out on 60's if we do speak about pension and this is something that we old people would really be that expecting for us to receive on month to month basis
but i should say that it isnt something a solid thing on which you could really be able to rely on and it is really just that much better if you do have other income source or passive like on what you have said
on having at least some 6 ot 10 doors kind of apartnment or whatever property which could really be able to generate passive income. Dont make yourself that ending on relying with your
children or sons/daughters because its never a guarantee that they would really be looking back on you once they do have their own family. So better get prepared.

[macson]

I think people retire early because they want to be financially free. Yes, but it's not easy, some people even have to retire early because illness means they can't work anymore. this is something we cannot even predict. I think everyone will retire eventually, but wanting to retire early means there is an allowance to continue living.

not everyone is able to be financially free, all the decisions they make must be right, usually people who retire early are people who have narrow thinking or just want to look cool at first, illness cannot be used as an excuse for someone to retire early because you definitely will recover from your illness unless you become disabled because of it.  i know everyone is free to live the life they choose, but it is not easy to live the life of a retired person, even rich people continue to work to make money even though they are over 70 years old.

[Bushdark]

the only thing that I think majority are not thinking when they are planning for early retirement is that they can get really bored if they don't have any meaningful things to build after they retire. maybe like business based on hobby or something. if its just retiring and you're doing nothing i'm sure 100% after 3 years you would be really bored, i've been reading about many younger generation planning fully retire in 30s.
while that's nothing wrong and if someone is really capable of earning money enough for fully retiring in 30s then i think they deserve it but they should have something they passionate about that they really want to do after retiring. that way they will still have income and also not getting bored while also being productive.

This would be the perfect plan after retiring. It's not like we retire from our regular job and just do nothing. Plus the monthly pension only happens once we are in our 60s which is a long time. We might still need to do something or invest for us to earn regular income. Having an apartment or building could be great since it can provide steady income while doing nothing but the cost might be too expensive and unaffordable to most people retiring in their 30s. Having a business coming from our passion even if it takes a lot of our time would be cool.

Early pension is something we need to ignore or else it might affect us in a long run. Sometimes we are not the ones that mostly initiate early retirement since it can be due to sickness, disability and other factors. Even though we are given a force retirement, it is very important for us to look for other means  of making money for ourselves because we will always have to pay bills and do other things with money. Retirement is not meant to be early rather than late. This mostly comes in our late 50s or late 60s when we don't have a strong bones and muscles to do some no certain things that will aid us to produce more results.

[Chilwell]

Retirement isn’t something you decide if you ask me. It’s something that actually decides for you. Of course you get to make the call but, you make that call when your strength and sense are failing you. That’s when you know it’s right to retire.

Retirement is done when you are working under government organisation or private organisation or your own organisation. Retirement is easy to say if you have not started it, you will not know it pains, sorry for bring the story when my father was about to retire from work "government organisation" we all thought is a good thing that we will have full and good time with our dad not knowing that it was a big disaster, in the following month things started changing which is beyond me, I then asked my dad why so so thing is not like before, he said because he has retired, I then said dad you have to go back so that we can continue our beautiful life, he then said no is not possible.

No matter how much life you seek to enjoy, there are always a lot that would still float right pass you. Don’t be taken by the idea of you’ve accumulated enough, it’s never enough when you look at it from a generational point of view.

Self employed is good but it doesn't happen like a dream, there are so many way people become self employed, some have to pass through government organisation or private organisation before getting their independent. For anyone to live or retired from is working place to become self employed thinking that he/she has had enough money, only few people survive this, someone have to take caution before making this kind of decision because it very dangerous.

[trendcoin]

The history of human thought has been home to many interesting great men. Someone who starts reading from Plato will spend at least 10 years until they get close to contemporary history. I think it would be a good option for someone who retires early to read the history and development of human thought. Another option would be to learn new professions. Carpentry is a really technical and peaceful profession. There are so many alternatives for someone who retires early. If they can't find anything to do, come to our forum and join us. :)

[arabspaceship123]

Congrats on the retirement. Your wife's seen the day to enjoy peaceful retirement without rules so wishing you bliss in the next chapter of your life.

I'd like to do that. I mean I don't want to be married as long as you've been before retiring. We've been together a long time but we're still young so I'd like to see investment paying me each month. I don't want to work when I'm old that's why I'm trying to save now so my pension's going to help. That's the plan.

I think this works for me and my wife because we get along been together 37 years and still like to hang out with each other.

My wife had a hard job IRS revenue agent. A shit ton of rules and regs to obey.  She found a lot of freedom when she went on pension.