Not everyone can retire young, but even those who have the financial means to quit their jobs often choose to wait.
In a recent Facebook post, New Retirement Group, got hundreds of comments in response to the question, “Why are you retiring young if your retirement lasts so long?” The responses fell roughly evenly into his eight categories: Below is a summary of answers about why people retire early.
Time that enjoys wasting time is not wasted time
Bertrand Russell
Retiring young isn’t necessarily a specific, obscure goal. Many people retire for the simple pleasures of free access and complete control over their time.
In fact, a sense of control and freedom was the number one reason people cited for wanting to retire young. Whether you have time to sleep, do nothing, or pursue hobbies such as golf, woodworking, or knitting (activities mentioned varied)
Joseph commented: No need to plan. I take it one day at a time.
John was even more outspoken. I love the freedom to do whatever I want, whenever I want. It’s not for everyone, but it works for me. “
“I get up early not because I have to, but because I want to,” says Rosalyn.
Brad made plans for financial freedom and how he would spend his time in retirement. he wrote: And like most things, things haven’t gone according to plan for me, but I’m not at all sorry that I’m retired. . I am only limited by my level of ambition for what I do. “
Michelle pursues entertainment, swimming, pickleball, boating, reading, biking, Bunco, and travel. She summarizes her retired youth philosophy: “Some people live to work, some people work to live.” I retired because I have so many other things I want to do. “
Need some inspiration? Here are 120 ideas for what to do after retirement.
2. I want to get away from work
“I’d rather eat rice and beans so I can do what I love than get a miserable, well-paid job.”
Darius Follow, Author Think straight: Chang. ge Your Thought, Change Your Life
Many people seem to find their jobs soulless and choose to retire even if it means a financial toll (which is often not the case).
Getting away from a stressful job is the second biggest reason people give for early retirement. Janet summed it up in the following comment. That’s something you don’t have to do anymore. “
James said, “If work is an indicator of your identity and self-esteem, you have already failed in life.”
Patrick says, “Work was never meant to define who I am. Some people cling to work because they can’t imagine what they would do without it. It was about not being tied down. Which one are you?”
“Kneeling in menopause” was what inspired Stacey to retire young. She said, “I don’t want or need to put up with any more nonsense at work.”
It’s important to note that many people actually enjoy their work and find meaning and purpose in it. And that’s 100% okay too. It is admirable to delay retirement because you love your job and feel you are contributing to the world. And you are lucky to have a fulfilling job.
“Work fills your pocket, adventure fills your soul.”
i don’t know
There’s something about travel and retirement. Research shows that it’s the #1 goal for most people, and the answers to this question confirm that it’s true. Whether it’s camping, an RV trip, or a round-the-world tour, having time to travel is a big reason people retire early.
“Family is not important, it’s everything.
Michael J. Fox
Love is always the answer to everything, including why I’m retiring young.
People retire early to spend time with their spouses, children, grandchildren, and aging parents.
Brian wrote a comment from Lanai, Hawaii. he said: But now I can do what I want when I want. I should have done it sooner. “
Wendy made time with her daughter a priority. she said: I’m glad I left my soul-crushing schedule for my family. “
Many say that retiring young gave them time to spend with and help their aging parents. Nancy’s mom needed Nancy to move in with her. she says: Spending four and a half years with her mother was an incredible gift. She died her last summer. “
“All you need is a plan, a roadmap, and the courage to push where you want to go.”
Earl Nightengale
Some people have known almost their whole lives that they do not want to work until old age. Others set their goals a little late, or quite late, but carefully plan for early retirement.
In Facebook groups like NewRetirement, you’ll find people retiring earlier than average because people are actively managing their finances and preparing for the future they want.
Tom D. says: Get a high-stress, high-paying job. We had a goal to retire early and we did it. “
Denise made a life change to help young people retire. The Daily Grind. Now I can choose to enjoy my life on my own terms. “
Brad decided to retire in his 30s and 50s. Although he has achieved his goal, he realizes that even with a market crash and inflation, he could have retired earlier because his finances are in better shape than he had planned. discovered.
David retired five years earlier than expected. He mentioned the importance of keeping track of his financial situation even after he retires.
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“Happiness is a by-product of function, purpose, and conflict. Those who seek their own happiness seek victory without war.”
William S. Burroughs
Many people think they are retired but still work or volunteer in jobs that they enjoy and that give meaning to the time they spend on watches.
“Early retirement gives you the option to switch to a new kind of ‘work’ without the constraints of worrying about income levels,” Katherine said.
Laura has a really tough job after retiring young. she wrote: Her work continues on her but more passionate project. “
“True wealth is health, not a piece of gold or silver.”
mahatma gandhi
Not only your own health, but also the health of your loved ones is a major factor in early retirement. Many have watched their friends and family struggle and retire and their bodies and minds begin to fail. Or, their own health scare has led them to find a way to work in retirement regardless of the financial implications.
Rob writes: Two years ago, at his 55th birthday, he had a heart attack (the first, out of the blue) and he and the dream died suddenly that day. I am 61 years old this year and I am preparing for this year to be a year of transition for his wife and I. No matter how many precious days remain, we will live and love in a new and better way!!”
Laurie says: I was one of them. I just turned 55 and am enjoying every day I have been given. “
Also taking inspiration from one of his family members, Tom comments: I retired 14 years before he was 54 years old. Life is more than work. I am really enjoying it now. “
David intends to sail around the world for three years. He said, “I don’t know if I can physically do that in my 60s. increase.”
Jeff said he lost his wife and mother to cancer early on. he says: He spent too much time being productive and efficient to enjoy the trip. “
The choice to retire young was a tough one for Brett. He wrote, “If he hadn’t retired at 54, he would have died of stress and frustration.”
If you don’t take care of yourself, you can’t take care of your time. Unless you value your time, you do nothing with it.
M. Scott Peck
You can always have more money. But your time is definitely limited. And this trade-off is one of the most important considerations when deciding when to retire.
At 55, Wendy plans to travel and says, “No one can guarantee how much time we have, so why not retire sooner if it makes financial sense? ?”said.
Robbi echoed this sentiment. (She added that she would be proud of her father for retiring early enough to enjoy ten years of retirement before she died at age 68.
Retirement at age 60 or 65 can span 30 years, requiring you to raise funds without income from work for a very long period of time. If he retires young, he may need another 10-30 years of savings.
A comprehensive financial plan, a back-up plan to anticipate what could go wrong, and the flexibility to maintain and update the plan make it less stressful for young retirees.
NewRetirement Planner is the most comprehensive and flexible tool for anyone looking to retire young (or later).
