Too Late for Early Retirement

Chase

Active member
First of all, let me admit that I'm envious of Syd at Retirement: A Fulltime Job. That's not just because she sends a lot of readers my way, though she does.

Let's face it, I'd be jealous of anyone who gets to retire in their forties with enough resources to travel, a cute & loving partner to travel with, and their health intact.

A young friend of mine, an auto mechanic who is in his late thirties, is busy buying up rental real estate, desperate to leave the work world behind by age 50. He doesn't want to spend the rest of his life under cars, nor does he want to retrain for some other career. If he has to work, he tells me, then fixing autos is the way to go. But he believes that fixing up and maintaining rentals will suit him better and leave him with more time to pursue the hiking and rock climbing that he also loves.

I sort of envy him as well (except for the repairing rentals, hiking and rock climbing part!).

But would I have retired in my forties, even if it had been financially feasible? And assuming I hadn't been busy adding children to my family during that time?

Somehow, I suspect not.

The decision to retire, when not dictated by job loss or health concerns, is so very personal.

It seems to me that some people, like Syd and my mechanic friend, do leisure well. I don't count myself in that number. Left to my own devices, I tend to hole up with my books, the remote control and a full supply of Ben & Jerry's. I don't even bother to answer the phone much of the time when I'm home alone.

Work provides structure and social interaction, whether we need it or want it. People like me need both. In fact, as I plan for my eventual retirement, part of my plans involve thinking of ways to maintain structure and interaction (while still managing to sleep in on weekdays, travel, read, and hit movie matinees).

When I retire, I want to RETIRE--all caps! I don't want to change careers--I love the one I have; I don't want to become an entrepreneur--contrary to the Dave Ramsay mantra, not everyone is cut out for self-employment. I know I'm not.

But I also don't want to vegetate into a hermit. I want to volunteer; I want to travel; I want to have way more time for myself.
 
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Tundi Mick

Member
Saving for retirement have been a bigger issue. Most people wait until their company or organization retires them before they start making a proper plan for pension. Its better to start saving or keeping some penny aside for your retirement.
 

Alexandoy

VIP Contributor
For me, retirement is at age 65. That is the time that the human body gets tired of working but is still capable of some enjoyable activities. You can enjoy retirement if you have enough savings and a good pension. Most of the big companies here are going for an early retirement at 60 but there are some with 55 years old as their retirement age. I think that 55 is too young to be idle. Having no income at that age will matter a lot to ordinary people. I know that executives have a huge retirement package so they have no worries with their financial needs even when they have no more job. But the issue is the general public. There would be too many unemployed workers that can be of good use if they still have a job.
 

Nova

Active member
I think there is never late when it comes to the retirement planning. You just have to take one day at a time. And keep investing. That is one way of making more right choices slowly. I have noticed that some of the time retirement planning is made too much complicated. Most of these complications can be removed if you know how to plan retirement and how it can be done with monthly investment plans one at a time. That is something always works out. I started investment pretty late like in 30s. So it's not really set stone and it requires some effort.

Another thing is that late retirement is always better if you don't have the money. You just however make sure to take care of your health and continue investing some amount per month. That is something always works out for many people. I know because I have seen that working out.
 
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