Is it still possible to retire early?

[rangga28]

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.

Usually the word retirement is categorized as those who work for the government and companies. If the meaning is like that then someone can choose a period of service of more than twenty years to get severance pay or pension funds or by reviewing the rules agreed with the employer. But for entrepreneurs, it seems like there is no such thing as retirement, they will continue to run or be involved in their business even when they are old. For some people who are still provided with good health and mental health, it is unlikely that they will apply for retirement unless they choose to resign and return to work in another field. Of course there are many things to consider if someone chooses to retire from a job, inflation rates, taxes and other unexpected costs.

[Xcode7]

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.

Of course when we start to get older, we will think about growing old with our family and also doing things we like that we didn't have time to do before because we were working, but in the future we will do it for that reason creating pleasure for ourselves and our families. However, we can imagine that if our finances were stable when we were young, we didn't waste a lot of money on things we didn't want or wasted it, we would definitely imagine a beautiful old age.

Therefore, prepare well now if you want to enjoy old age, because if not we will continue to work without any restrictions on rest when we are old It is important to think about the future rather than wasting money on youth.

[Iranus]

To be honest, I have never thought about the prospect of retiring and at what age I would retire. Because I realize that with the current life when we encounter countless difficulties, I don't think I will be able to retire to enjoy my old age. Every time I think about my family, especially my children's future, I don't dare think about retirement. Life is increasingly harsh, raising them and providing their daily necessities is also sapping my strength, and if I stop they will have to live the rest of their lives full of difficulties. Not to mention, with an increasingly polluted world, increasing illnesses and I also have to prepare for my parents to grow old...there are too many things to worry about and I no longer dare to think about my retirement scenario. Retirement is a luxury that I have never dared to think about.

Maybe back then, we had a target age for when to retire, but with what is happening now in our country where there are many changes and stable sources of income are needed to live, it seems that you really don't want to think about retirement, and even those who are riches owner of a company will still work even though they are at retirement age, have we thought about why? because for them, as long as their body and mind can do it, they will continue doing it because nothing is permanent in the world, something can be lost in just one snap, so in preparation they are not complacent, especially now that it seems like every year there is a change in expenses and lifestyle of our life so it's better that we enjoy the time while we work so that we don't think that our life is just wasted on working and saving money, learn how to balance our life and work.

Yes, when I was young with my shallowness and naivety, I also thought about becoming rich easily and enjoying life as soon as possible. But when I grew up and had a family, I realized that life does not go as we think and is not as rosy as we imagine. For me, an adult man with a family, what I think about is my family, not just me. And as you also said, with the current economic situation, maintaining the supply of daily necessities is also a big problem for many people. So how can we dare to think about the prospect of retiring and enjoying old age?

[Volimack]

Everything has changed people are living longer. It's true the post retirement years are getting longer. Many professionals in the technology sector retire at an early age leaving room for the younger generation it becomes impractical to maintain their position. Yet to resign means to give up one's place. Retirement gives you a lot of time. But because you are no longer busy you are cornered. That is why it is better not to retire early.

[0t3p0t]

This actually depends on what we are doing in life. If you have a high paying job then that would be possible but for people who has low to average or medium salary it's very difficult to especulate but based on my observation most of them cannot retire that early and even those people who has high paying job but also having a lavish lifestyle can't do that as well and it's obvious. Those people who work, invest and save has the higher edge on that early retirement thing. Discipline, consistency and patience will also help individuals achieve financial freedom ahead of that early retirement we all dreamed of.

[God bless u]

<snip>

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.

Early retirement preparation by prioritizing the five points is good, but most people are still not ready to step into it because the economy is still in the lower middle class or the level of economic difficulties has not yet fully found a solution in the midst of the country's condition.
I agree with all of this and you are right that early retirement is an option, but I have not been able and ready to make that choice because of economic factors that are still like most people who live their lives out there.

So this means a middle man is not allowed to live a life in which he should be able to do everything that he wants. As a family why we put so much pressure on someone to fulfil our wishes and to make us live a life that he can't afford to pay of.

We should minimise our wishes and then automatically the burden will be relieved from his shoulders. Everyone here should be allowed to live a life which he wants.

[erep]

Usually the word retirement is categorized as those who work for the government and companies. If the meaning is like that then someone can choose a period of service of more than twenty years to get severance pay or pension funds or by reviewing the rules agreed with the employer. But for entrepreneurs, it seems like there is no such thing as retirement, they will continue to run or be involved in their business even when they are old. For some people who are still provided with good health and mental health, it is unlikely that they will apply for retirement unless they choose to resign and return to work in another field. Of course there are many things to consider if someone chooses to retire from a job, inflation rates, taxes and other unexpected costs.

I rarely hear information about government employees who apply for early retirement because they have a fixed income even though their performance does not comply with regulations, but if you work in a company there may be several percent of workers who will retire early if there are regulations that are detrimental to employees or they already have a high income from another job. Government employees have a pension salary as a guarantee of income in old age and generally they run other businesses without having to retire early.

The current situation is very difficult to get the job you hope for with an appropriate salary, therefore think wisely before applying for early retirement, think more about consulting with your family and friends so you don't make the wrong decision.

[Mame89]

Everything has changed people are living longer. It's true the post retirement years are getting longer. Many professionals in the technology sector retire at an early age leaving room for the younger generation it becomes impractical to maintain their position. Yet to resign means to give up one's place. Retirement gives you a lot of time. But because you are no longer busy you are cornered. That is why it is better not to retire early.

The term early retirement actually means if we work professionally in a company or in the government, of course if we are no longer young then retirement cannot be avoided because we will be replaced by a younger generation. Usually retirees also continue to carry out work activities by looking for income elsewhere even though financial freedom has been achieved, but most retirees cannot just stay at home, they will do other activities such as running a business, investing and so on to fill their time. .

So actually retiring early is just to work, but to continue looking for passive income there is no such thing as retirement. It's just that after retirement our activities are more relaxed, because we will have more time to enjoy life with our family. So my conclusion is that to be able to enjoy old age, we have to prepare ourselves financially when we are still young by managing our finances better and investing. Retiring from a job is certain to happen, but don't retire to always get an income.

[Wakate]

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.

We can decide to retire anytime that we want it and this should be our decision especially when we have ready prepared well for the near future we are going to stay without working. Retirement should be a stage of life when we need to rest and enjoy our old age. This is the age some people are using to hustle more because they do not plan these well and prepare for retirements before it ever comes. We need to be always prepared and get ourselves in different investments than could being huge profits for ourselves so we can always make money from time time without over stressing about how the future is going to look like.

[seanskie18]

For some, it is possible, but many people are unable or unwilling to retire early due to the fact that their monthly expenses outweigh their prospective non-working income, forcing them to work to meet the costs. Yet, whether or not to retire early is a personal decision.

[barisbilgili]

For some, it is possible, but many people are unable or unwilling to retire early due to the fact that their monthly expenses outweigh their prospective non-working income, forcing them to work to meet the costs. Yet, whether or not to retire early is a personal decision.

It all comes back to yourself to prepare for early retirement or continue working to prepare for a much more adequate old age and I see that the decision to retire early or not is not only a matter of money but also desires and of course if someone wants to retire early they can when they have have a business or a steady income that continues even though he doesn't work anymore, but the amount won't be too big so he won't be able to fulfill many desires. I think that's the reason many people don't retire early.

[Juse14]

When we can't make money while we sleep, then be prepared to work all our lives.

Of course, being able to retire at a young age is what everyone dreams of most. However, of course this is not an easy thing to achieve, especially if we come from a poor family and live in an underdeveloped country. Because when we leave a poor family, let alone thinking about saving and investing, just being able to meet our daily needs is already grateful. In fact, because of this need, it forces someone to work part time and ignore their health in order to earn some money to cover their needs.

So when we talk about retiring young, this is just a wish, because sometimes necessity forces someone to continue working throughout their life. Keep up the enthusiasm of the sandwich generation...!

[sunsilk]

For some, it is possible, but many people are unable or unwilling to retire early due to the fact that their monthly expenses outweigh their prospective non-working income, forcing them to work to meet the costs. Yet, whether or not to retire early is a personal decision.

And that is because they realize that what they have isn't going to be enough to sustain all their needs. To be honest, the older we are, the more expensive our costs are going to be.

Even if you're a good saver and budget man, it won't be enough for you to retire early because what matters is how much is coming to you.

Well, if someone is going to retire very early, it's doable with a couple of million dollars and a lot of passive incomes are going to do fine.

[AVE5]

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.

It's agreed. Retirements is mostly considered based on the economy situations, nature of jobs and the concerns of the government towards their citizens welfares.
Just as said, if living in a crumbling economy, most citizens wouldn't even mind the nature of the job but all they cares about of the job because they're afraid of coping with life after retirements but if living in a developed country of course citizens would be indebt to retire with the alignments that the governments would take cares of their basic and essential needs.
But of all in both developed and undeveloped economy, savings and investing would always give citizens a more better reliance to live a better life because the government can't always give it all.

[Uhwuchukwu53]

This actually depends on what we are doing in life. If you have a high paying job then that would be possible but for people who has low to average or medium salary it's very difficult to especulate but based on my observation most of them cannot retire that early and even those people who has high paying job but also having a lavish lifestyle can't do that as well and it's obvious. Those people who work, invest and save has the higher edge on that early retirement thing. Discipline, consistency and patience will also help individuals achieve financial freedom ahead of that early retirement we all dreamed of.

Yes  this categories of people as alpha mentioned
By 0t3p0t may hardly retired at young age but there is one thing I would debunked is the aspect saying they leave a lavish lifestyle, I think that is wrong because even if they do not all in this categories leave such lifestyle, take instance of people working in mostly if the third world countries where the economy and inflation usually hit hard all time even their so called salary can't even give them two square meal per day not to talk if others unforseen circumstances that face humans life how will you conclude that such a salary earner is lavishing example 30,000 as salary precisely in Nigeria what kind of lavish lifestyle will you classified this set of people earning this as salary rather than seen them as people who are into deep suffering as the salary can't even feed one person for a month no matter how you manage it, as there is no plate if food you can eat 500 naira in the morning and also eat same in the evening to afford two square meal for 30 days , even if you want to cook your self it will not still work and your transportation is not inclusive.

The truth is the poor salary hinder such desire to retire at young age as some barely survive even with the salary because it's hard to feed with it and make enough saving or investment that will sustain them after retiring from the current job .

[Essential10]

For some, it is possible, but many people are unable or unwilling to retire early due to the fact that their monthly expenses outweigh their prospective non-working income, forcing them to work to meet the costs. Yet, whether or not to retire early is a personal decision.

Sometimes people get injured in accidents and they are forced to retire from their jobs, while there are many who deliberately decide to retire early. But for those who want to retire early on their own, I personally guess the two problems you are most likely to face. Retiring early means giving up your regular paycheck, which will suddenly stop your financial stability. You can't continue to save for retirement or afford the luxuries you enjoyed while working. Another most important thing is that as you get older, the cost of health care will increase which will become expensive for you. So I think you should continue working until you save enough.

[Chilwell]

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.

Retiring at young age is actually a good thing because if things work out well you will enjoy the fruit of your labour, I really get what you are saying but they are just few of them and again it depends of on the career work, most of the people I noticed that with are educationalist, people making research don't retire at early age most of them died in that path. Most of this educationalist doesn't have money and they don't care because they love what they do, some even turn down offers that will make them rich but due to the passion they have for knowledge they don't take it.

As am concern, if I make huge amount of money at my early age I plan to retire early because live is very short, I want to enjoy myself first before many will start fighting for what they don't work for.

[Promocodeudo]

Early retirement is a personal decision and this decision shouldn't be questioned, a person may decide to retire when he is satisfied with his level of achievement in a short while and deem it necessary to go and get a rest in his home to continue sustaining himself with his savings or earnings from the government, to be realistic this can only happen in the developed nation where things are been done rightly as for most African country and some other underdeveloped countries it is almost impossible for this to happen because everyone is eager to get a job so you cant just retire early when you have numerous responsibilities that needs financial attention unless you have a better Job if not you may end up being frustrated, as a matter of clarity this may not exist in africa because of the nature of things their, in the underdeveloped countries workers wish to work until the age to the extent of not being able to walk again because of unorganised economic system of government.

[Yatsan]

Yes, possible with investments simply because it will generate income for you. It also comes in many forms and only depends on what would be more profitable in your end. Well, a good salary will help you with savings but as we all knows savings alone won't last forever. It should be turned to something that could generate money for you if you're after early retirement. Bank savings in most instances could give you interest for a long run however, bankruptcy will also be the threat you won't hope to happen. Depends as well on how you would consume or spend money once you chose to retire 'coz it would be a factor determining how long your money would last or sustain for you. However, I guess this generation won't be settling early given how passionate they are with their professions.

[Lanatsa]

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.

Retiring at young age is actually a good thing because if things work out well you will enjoy the fruit of your labour, I really get what you are saying but they are just few of them and again it depends of on the career work, most of the people I noticed that with are educationalist, people making research don't retire at early age most of them died in that path. Most of this educationalist doesn't have money and they don't care because they love what they do, some even turn down offers that will make them rich but due to the passion they have for knowledge they don't take it.

As am concern, if I make huge amount of money at my early age I plan to retire early because live is very short, I want to enjoy myself first before many will start fighting for what they don't work for.

Some people would really be having this kind of thinking about having that kind of early retirement on which they would really thriving out their best for them to accumulate more money or saving it up until
they would be able to find themselves that they could really be able to stand still or survive. Due to lack of action and proper planning and integration of such savings then this is where a certain individual
would really be having a never ending kind having a job and since they are really that still get stucked into that day to day living expenses. To those people who had been thinking about those
early retirement while they are still young are the ones who arent that contented on the current condition that they are in.

Even myself wont really be tending to be that like an employee forever on which it would really be just that right that you should really be doing additional steps that would really be proving out
that you are really that able to achieve such thing. It wont really be that so easy but doesnt mean that it would really be that impossible to be done. It is really just that
someone isnt really that serious on trying out to achieve on something and really that contented on the condition that they are in.