Is it still possible to retire early?

[red4slash]

Early retirement is actually still very possible but if indeed as long as we still want to live in luxury then indeed I don't think we will think about it from now on.

Early retirement is not as easy as imagined especially for ages that are still productive enough to make money because after all, apart from our lives including old age that must be considered here we must also realize that every human being has a condition where they are never satisfied with something and of course with the power of money now even though we can still be happy even without money but when we don't have money then it is certain that we will suffer so that in order to keep it from experiencing setbacks in old age, especially for financial problems, we need to support it by working or building a business so that in this case retirement will clearly be hampered.

But if you are sure enough with what you have now even though it is still productive age I think if you want to retire early then it can still be done. But I personally will not do that because I realize my journey is still long and do not want to stop at this age.

[Bananington]

It's quite a possibility to retire early with investment in ones portfolio and a steady income or dividend being received regularly and with other incentives like vacations and tourism just to keep the mind young and active.
All this would have to be made possible with a clear and intelligent investment choice and with Bitcoin offering a better chance for investors who don't have real estate or gold as investment, and with Bitcoin also being a currency of the future, it would pay double to understand the intricacies of trading cryptocurrency as well as how to keep it safe and earn profit from it.

The best option to retire early is in how much financial education we can comprehend and put to practice currently.

[GeorgeJohn]

In summary, early retirement is a choice. The global economy is making it difficult to achieve it, but we can still try our best to plan toward enjoying it by saving, investing, and healthy living.

In my estimation early retirement is a choice if you leave in an economy that is already developed. In an economy where the government actually cares for her citizens and have been able to provide the basic and amenities for them. But if you leave in an economy that is still developing early retirement will only be a wish. Because you can't retire early and have it going good for you. In this type of economy you have to work twice as hard to even erk out a good living for yourself and while you are at it retiring early would be the last thing on your list. That is why you should do work that you love, take time out to relax, eat healthy, invest no matter how little even while you are actively working.

Theirs people who retired voluntarily, and Theirs also people who retired base on working duration, so this people that retired base on the time has elapsed is the people that received retirement benefits from companies and government jobs, so those people retired voluntarily maybe those who just want to retired base they find the job faul, so therefore I will say why some people retire voluntarily is because they are tired of the job.

Working until the duration of any worker, is just base on you have passion to the job and you loving working there until you are aged for the service you render to the company or government, so for me I have not seen anything wrong if someone retired voluntarily, their people retired in work because they have been offered another job somewhere else, so retirement is base on condition.

[GideonGono]

It would be possible if you have enough money to support your lifestyle and needs, you have to have enough passive income in order to retire at an early age, let your money work for you in order to survive while enjoying life, they should also consider where to live when they decide to retire, they should know if they could afford the cost of living vs their income.
But I guess this would only be applicable for single people, those who have family or kids would surely need to work for their kids future, so early retirement would be hard for them.

[C10H15N]

Yes, absolutely possible.  I did it a year and a half ago at age 58.5

The key was having everything paid off (including my house) to be totally debt free. (my net worth statement has no liabilities)
I invested heavily in my company 401(k) as well as maxing out a Roth IRA and making regular contributions to a regular brokerage account.
I lived (and continue to do so) well below my means and did my best to avoid lifestyle creep.
I use credit cards, but the statement balance is paid in full every month to avoid interest charges.
Part of the key was to turn my shopping addiction into purchasing stock in good companies rather than the products they make.
I'm happier owning Tesla, Ferrari, Porsche, and Stellantis rather than the vehicles they produce.  My newest vehicle is a used 2015 Nissan Leaf.

So far my investments are earning and growing faster than I am spending the money to live.

Crypto has also been very very good to me - but it is icing on the cake.  I don't require it to live, but it does provide a massive safety margin. 
  

[Antotena]

It is possible to happen. Though all the planning and investing is one of the factor to consider here. Mostly in the first world country, people can have their early retirement due to their economic advantages, sadly to say for us belongs to the 3rd world country, one possible option is really to invest in different investments, meticulous planning, consistent approach to goal and study more to gain more knowledge how to manage the money effectively. We have our own, investments are not a hype in our country, a very few are willing to invest. As long my countrymen eat 3 times a day, we are ahappy about it, even doing the 9-5 job till our retirement age.

Coming from a first world country doesn't mean anything, you can still end up in a bad investment. There are companies that has folded this year and has gone bankruptcy and not because the investors didn't do adequate research before they made the investment but because the company run into some complications and it was beyond them and because they couldn't continue, they have to shut it down and pay out investors probably without interest.

There could be cases of scams, many scammers hide under many of this so called retirements plan because they see weakness and eagerness from people who tend to make investment plan for their life.

[passwordnow]

Early retirement is actually still very possible but if indeed as long as we still want to live in luxury then indeed I don't think we will think about it from now on.

I think luxury isn't the word but more of comfortable living. But it's true that early retirement is still possible but we have to do what we think we should be in order not to stop the cash flow that we're having.

Early retirement is not as easy as imagined especially for ages that are still productive enough to make money because after all, apart from our lives including old age that must be considered here we must also realize that every human being has a condition where they are never satisfied with something and of course with the power of money now even though we can still be happy even without money but when we don't have money then it is certain that we will suffer so that in order to keep it from experiencing setbacks in old age, especially for financial problems, we need to support it by working or building a business so that in this case retirement will clearly be hampered.

Well said, we're never satisfied with most of our current states and that's why even if we can retire too early and live a frugal or even a comfortable life, we won't do that. With how prices of everything goes up rapidly, we just can't stop working. I agree about the idea of retiring but in a way that they'd still some resources and cash flow keeps going on them. That's the kind of retirement that everyone loves, there's still money goin in to them while they're receiving pensions, shares, dividends and other source of income that they're able to set the foundation while they are young.

We have all in common and we'd say to those that are capable of retiring early, it's just a matter of how you prepare for it. So, while many of you are still young, don't do the mistakes of many old workers that they have not planned for it. They only relied on their pension and now with cost of goods going up continuously as inflation is hitting us all badly, you need to scatter your money and make them work for you as long as you live.

[STT]

Theres a whole community dedicated to this task as a necessity because of modern living denying people proper wages demanding too many hours and not letting them start families etc.    The main requirement to achieve such a task is to have a good paying job but live like a pauper and deny any spending beyond basic food, cook your own for example and live as if you have no money always.   Repay all debts and save into a house, even better learn to build your own etc.

 That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job.  They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.

[oktana]

It is very possible to retire early but it is quite unusual. The richest men on earth are still busy trying to make more money, so who really wishes to retire? And like you see, the economy isn’t so good, so by the time you’ve made enough money to decide retirement, you have most likely grown old. In my opinion, People who retire early are people who started very very early.

[C10H15N]

Theres a whole community dedicated to this task as a necessity because of modern living denying people proper wages demanding too many hours and not letting them start families etc.    The main requirement to achieve such a task is to have a good paying job but live like a pauper and deny any spending beyond basic food, cook your own for example and live as if you have no money always.   Repay all debts and save into a house, even better learn to build your own etc.

 That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job.  They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.

Yep.  The FIRE movement.  (Financial Independence Retire Early)

https://www.investopedia.com/terms/f/financial-independence-retire-early-fire.asp

[Poker Player]

It's not something that worries me. In fact, when I retire I would like to continue doing things at my own pace, without any obligation, and that provide me with an income. Like playing poker or participating in signature campaigns, if that still exists when I retire. I can do it when I feel like it, quietly from my home, and on top of that it provides me with a small income. It's one thing I could do, as long as I stay sane, until I die.

[sekalitas]

I want to add another thing that can really affect whether we can retire early or not: who we choose to be our life partner. It might be different in other places, but in my country, especially for my generation, a lot of people become the "sandwich generation." This means that on top of paying for our own lives, we also have to support our parents.

And honestly, some parents see their kids like investments, expecting them to pay them back once they start earning money. It's tough for some people to break free from that. So even if both partners work really hard, it can feel impossible to save for retirement because they're supporting so many people.

That's why it's super important to choose your partner wisely. Before getting married, have honest conversations about money and family relationships. And if you need to, don't be afraid to get a prenuptial agreement.

[ChiBitCTy]

Retirement is what I deal with on a daily basis.  Many advisors suggest you try and save around 15% of your current income (of course it all depends on your current age).  Also, the goal should be to try and replace roughly 70-90% of your current annual salary.  If you're towards the end of your career, that is, so that you may continue to live the same current level of lifestyle.

IF ANY of you actually give a shit about this topic, and truly what to better your financial situations, here's a fantastic link with some really good helpful financial tools.  TRUST ME when I say this is worth anyone's time!  Number 1, do you run a monthly budget at least once a year? If not, you NEED to be ( it's the first calculator on the page)- https://www.empower.com/learning_center/calculators/index.shtml#/

[michellee]

Retire early is possible for people who is ready with everything, including how they can fills their daily needs. Although retire early is a choice, we can prepare that from now so we don't have to wait for a long time to retire. If we can retire at forty or fifty, we can enjoy our life without keeps busy with our works.

Many people are not ready to retire early because they don't prepare it while they are younger. Having an investment is a way to prepare our future so when we can make a profit from the investment and that is more than enough to fills our day and prepare our kids, we can retire early without thinks much. We must have a plan what we wants to achieve so we can start from now and still search for many ways to earn what we wants.

Bitcoin can helps us to retire early but we must have many Bitcoins that we can sell in the highest price. We can start to investing in Bitcoin and keeps it until the price increase so we can make a profit.

[bettercrypto]

As others have said in this section, the decision of early retirement is a choice of what you want to do, because there are others who prefer to manage a business rather than spend time as an employee, and many have done that before. man actually.

And Bitcoin or cryptocurrency at the top can be given to someone who wants early retirement, and there are some of us who may have done it somehow in the field of crypto space.

[armanda90]

If all points below have been completing its over and right time for retiring,

• Budgeting
• Saving
• Alternative sources of income
• Investment
• Healthy Living

But I doubt for some one can reach all points above because many people still get difficult with financial condition and can't manage their money for saving, investing and opening new source of income before retiring from their offline working. Many of us work until old age because lack financial condition with small payment salary receiving make us must working until age for retiring because we don't have much money for saving and can't save our money for investment way.
Since still young we must working hard and spend all days keep looking the opportunity how to earn income from every source, after our working over we need looking alternatives income for side job and make the earning from this for investment to earn profitable in the future.

[lovesmayfamilis]

I don’t know if I understand the meaning of the word “pension” correctly as the OP describes it. But if we talk about pensions, then, as far as I know from my country, they should always be paid for by the state. The amount of payments depends on the length of service the person has worked.
Is it possible to simply retire, in the OP’s understanding? Maybe it’s worth just reformulating the meaning that the OP wants to stop working for “uncle” early, that is, for the state, and become a free entrepreneur, free from the constant obligations of going to work. Then you need to take into account that you should not expect privileges from the state.
If you have capital, this is possible, especially if there is alternative, or better yet, passive, income.
But don't call free enterprise, or the free decision not to work, a pension.

[Plaguedeath]

Indeed retirement is a choice but in addition
While it is technically possible for someone to retire early without a proper plan, it is generally not advisable. Retiring early without a solid financial plan in place can lead to financial difficulties later on, as you may outlive your savings or not have enough income to sustain your desired lifestyle.

If you are considering early retirement, it is important to consult with a financial advisor to create a comprehensive retirement plan that aligns with your goals and financial situation

Lol who in the hell someone want to retire early without proper plans, every people who want to retire early have calculated how much their monthly spending, how much their investment and average return of their investment.

But, what most people forget is they didn't calculate the "real inflation rate" instead they use "fake inflation rate" that posted by central banks. They also didn't calculate the tax they need to pay from their capital gains, depreciation cost, and any other extra things.

[Zlantann]

I thought you not the worker set out his retirement time but the employer. And all countries government have their retirement date for all their workers. And that is why those who joined the civil service work retired late in the old age. Those who joined late sometimes work till at the age of 70s but normally I'm my country retirement age is 65 years. Because at time your not smart again so you are to rest and receive your retirement benefits at home. And they was a time the government was planning to reduce the years and I don't k ow if they have reduced it to 55 years because I am not part of them so I won't know.

You can only spelled out your retirement age if you are self-employed and not working for anyone because the person must have a say over you.

As a civil servant, you shouldn't wait until the statutory age of retirement before you decide to leave service. I wouldn't expect that I will keep working hard until I get to seventy. Even as a government worker, one can set up plans on how to retire early before the age of retirement. Most civil servants who achieve this are those who have investments that give them enough income to survive. I know many civil servants who left the service to go into business this is because they are well aware that the gratuity and pension will not be enough to pay their bills when they retire. 

Indeed retirement is a choice but in addition
While it is technically possible for someone to retire early without a proper plan, it is generally not advisable. Retiring early without a solid financial plan in place can lead to financial difficulties later on, as you may outlive your savings or not have enough income to sustain your desired lifestyle.

It is possible for someone to retire without a plan and this has been the case of many people. Such people don't have savings or investments because they have no plan for it. Countless people mismanage their income by wasting it on liabilities. But they end up becoming broke and start living beggarly lives. I don't really need to go to a financial expert to get investment advice; the internet has enough information to guide me.

[Ever-young]

In summary, early retirement is a choice. The global economy is making it difficult to achieve it, but we can still try our best to plan toward enjoying it by saving, investing, and healthy living.

In my estimation early retirement is a choice if you leave in an economy that is already developed. In an economy where the government actually cares for her citizens and have been able to provide the basic and amenities for them. But if you leave in an economy that is still developing early retirement will only be a wish. Because you can't retire early and have it going good for you. In this type of economy you have to work twice as hard to even erk out a good living for yourself and while you are at it retiring early would be the last thing on your list. That is why you should do work that you love, take time out to relax, eat healthy, invest no matter how little even while you are actively working.

You are absolutely right, if we actually work to provide everything for ourselves, retiring early will be the last thing on my mind just as you have said

But doing what we love and like won't be affecting our wellbeing as long as we are doing it with our heart and mind, we might even work without getting tired of it because we will be enjoying doing the work and the way our economic is right now in my country, we will have to work things for ourselves and to our own comfortable too.