If you could retire early...

[Disneypeach]

I retired at 53 from a large company after 28 years. Saved money (and invested) like a miser so I could afford to retire when I wanted to. Wish I had retired even earlier. Been traveling and helped take care of my dad in his last few years. I see the early morning traffic reports and think “ha! I don’t have to face that anymore!”

 

[disykat]

Absolutely and I did - almost 5 years ago. My parents and my husband's both needed help I simply couldn't provide while working full time. Thankfully, our youngest graduated from college the year I retired, or we might not have been able to swing it as easily. (or he would have had to take loans we didn't want him to have to take.) Since I had been in and out of my career while raising kids while my husband worked consistently and was the main income, we weren't generally reliant on my income. I retired at 56 and now do per diem work only. I could sub at schools, but I choose to sub at the library for less money because it's much more relaxed! Sometimes I do think about how much money would have been rolling in if I'd continued working full time with our house paid off, the kids off on their own, etc. but I don't regret it at all.

DH is younger than me and also plans on retiring the minute he is eligible in a few months, so both of us will have retired from full time work at 56. We have saved in our retirement plans, have a paid off home, and also have pension income so we will be fine and have enough to do some traveling, etc. Although we liked our jobs, neither one of us lived for them so I'm not worried at all about finding other interests. My true retirement will start when I have no more caregiving requirements. I'm hoping that will happen while we're still young and healthy ourselves! We haven't decided what DH will do, but I'm guessing he'll try to get some sort of flexible part time employment too for a few years.

We know how lucky we are, but also planned well to make this happen.

 

[CaptainAmerica]

I'm on track to retire on my 20 year work anniversary at 41 and I can't wait.

 

[amylevan]

I will be 53 in 10 years and will absolutely retire if we can. My youngest daughter will be in college then, so that will factor, as will health care costs. But we save with the intention to be done no later than 55.

We work to live, not live to work. There’s so much more to life than work and I want to do it all!

 

[Forevermarypoppins]

My "retirement" came at 58 1/2 because I was terminated from my job. This happened a few months before the pandemic. HAD that not happened I probably would have went out and got a retail job somewhere but circimstances what they were I stayed unemployed. I have some health issues not and honestly don't miss working until I want to purchase a large ticket item. But I can live without and I do. My husband is retired and we make by just fine. There are days that are boring but honestly I have found things to keep me busy, plus I have a 7 year old GS living in our home ( along with working daughter) so that by itself is time consuming.

 

[MamaMermaid]

If you told me I could retire tomorrow, I would. I'm a 31yo teacher - it was a hell of a year!

 

[mom2rtk]

I have a good friend who is retiring early at 53 along with her spouse. I'm around the same age and so not ready for this (my kids are much younger...).
Since they are a really introverted couple and claim they can't travel much due to retiring early I don't really see what they will do with their time.

Would you have retired early if you were able to? Personally I wouldn't (even if I could) as I'm still liking the structure of a daily routine. I'm lucky to have lots of vacation time and love my job. I will retire between ages of 60-62. But 53 just seems so early. And they are moving to a retirement setting which to me I'm so not there yet but each to their own I guess. I support her either which way as long as she's happy.

There are a lot more things to do in life than just travel.

 

[disykat]

There are a lot more things to do in life than just travel.

I think actually the pandemic was a good lesson in knowing that we'll be okay if we have to simplify and stay closer to home. Although I still want to travel, my priorities around it have kind of shifted. I can more easily envision being content with more time at home now.

 

[kymom99]

There are a lot more things to do in life than just travel.

So true. My husband doesn’t like yo travel much but he likes to garden and puddle in the yard. He gets a little bored in winter but as soon as spring rolls around he doesn’t stop.

 

[Kittyblue]

I'd love to retire early and travel. I like my job but it's not my life. There's so much more.

 

[CdnCarrie]

I'd love to retire early and travel. I like my job but it's not my life. There's so much more.

I guess the point /question I was more asking was would you retire early if it meant not being able to travel? That’s the trade off my friends are making.

My answer to that is no. Only if there was a really good reason like health issues.

Also not sure I would move into a retirement community at such an early age. - downsizing to the point of not being able to host their family for holidays or even really babysit grandchildren overnight seems drastic change so early.

 

[soccerdad72]

My wife and I are both 50. She’s planning on retiring in the next year or so and I’m planning on retiring in a couple years. Our youngest will be off to college next year, so we’ll be freed up to be able to do whatever we want at that point. We plan to travel, but we also both want to do new things as well.

 

[ronandannette]

My mother in law retired pretty early. Just after 50 I think. Father in law was 56. They are busy all the time and never stop. Renovations, volunteering, gardening, church activities, kayaking, fixing up the cottage, cooking and baking, hosting, travelling, spending time with family. You name it , my in-laws do it. They are self driven and provide their own structure. They also have a GM and a government pension so all those option were available to them.

I’m 48 and Dh is five years younger. I would love to retire early, rent out my house and travel in a van or small trailer for a year or two to all the National Parks. There is no way I could just retire and live how we are living. There’s too much left on the mortgage and we want to help our kids through post secondary and weddings. The cost of living is very high where we are. We aren’t opposed to selling and moving elsewhere to speed up the process but we aren’t there yet.

Short answer .. yes I would.

This is exactly the idyllic life we would live if we were financially able to retire early, which would essentially be now. DH is 67 and I'm 54; we both plan to work until we're 70. But since Carrie has now clarified the question to emphasize that travel would not be affordable, I think we wouldn't do it. Or if we did, one or both of us would work part-time to afford the occasional vacation and a few other luxuries.

 

[amylevan]

Also not sure I would move into a retirement community at such an early age. - downsizing to the point of not being able to host their family for holidays or even really babysit grandchildren overnight seems drastic change so early.

FWIW, the 55+ communities that I know allow grandchildren to visit and stay overnight, with some restrictions (one says no more than 14 consecutive nights).

And if unable to travel (and not everyone likes to travel and wants to do it in retirement), those communities can be great because they usually have activities and social gatherings that would help to keep you busy and engaged.

 

[mom2rtk]

I guess the point /question I was more asking was would you retire early if it meant not being able to travel? That’s the trade off my friends are making.

My answer to that is no. Only if there was a really good reason like health issues.

Also not sure I would move into a retirement community at such an early age. - downsizing to the point of not being able to host their family for holidays or even really babysit grandchildren overnight seems drastic change so early.

MYbe they are looking for a convenient excuse not to babysit or host big gatherings. I’ve been trying to downsize my holiday responsibilities lately. And as much as I look forward to babysitting one day, some just don’t. My mom was always pretty clear on that front and they own a spacious home on 8 acres of land.

 

[Kathryn Merteuil]

I probably would go ahead and do it... in which case I could finally get caught up on everything that needs to be done around the house.

Seriously though, it would be a tough decision. If/when presented with the opportunity I am sure I will take it. I would love to have all the free time to do what I want to do. Traveling is one thing near the top of my list, but I know it is not something I would not want to be doing year-round. I would also like to be more active in church, it would be nice to have the free time to help and not make even going on Sunday seem like a chore.

It's not that I dislike working. I just dislike having 5 days out of every week already planned out for me, and having to get up/go to bed on a schedule. The actual work is fine, I just don't like getting up every morning and going. There are other things I would rather be doing a lot of days. I actually LIKE going and seeing everybody, I would miss that.

 

[Pea-n-Me]

I don’t really have a burning desire to travel. I mean, sure, there are a few places I’d like to go, but that’s not what I mainly envision in retirement. When I think of retirement I think of not having to battle traffic for hours and not having to take care of sick people when I’m not feeling well myself or exhausted from the sheer work load. Honestly I never thought seriously about it until recently. Things are getting so bad in hospitals, there is not a person I know over, say, 40s (but even some of the younger people), who isn’t thinking about it. I’ve never heard multiple people before saying in one shift they’d thought about walking out, but I’ve heard it a lot recently. Sad.

That said, I was away from what I do for a relatively short time before and I missed it more than I ever expected I would. It literally felt like a part of me was missing. So I could definitely see myself continuing to work but at a different level and pace than what I’ve been doing; maybe something closer to home and less stressful. I could see both DH and I keeping our hand in work but on more of a part time basis, at hours of our choosing, etc. Not sure if this answers the question!

 

[clh2]

We’ve been working with a financial planner for 25 years or so, and DH has given his company notice he will be retiring in October. Healthcare being the kicker, I will probably be working 2 more years.

Part of that decision, do we want a “rice and beans” retirement? Or do we want to take a nice trip every other year or so, and spoil our daughter/son-in-law and grandkids. I do not want to retire and be worried about not having enough money to do stuff. Back to our financial planners…they have been awesome helping us sort through options/ideas/wants and needs.

 

[mom2rtk]

None of us were a promised a tomorrow. None of us is promised a tomorrow where we are even healthy enough to travel. I can respect anyone taking the opportunity to do the things they love and spend more time with the people they love as soon as they can.

 

[Pea-n-Me]

None of us were a promised a tomorrow. Nine of us is promised a tomorrow where we are even healthy enough to travel. I can respect anyone taking the opportunity to do the things they love and spend more time with the people they love as soon as they can.

This is true. I can’t tell you how many people I take care of with a major medical problem that started just after retirement, or just before retirement, etc. I had a guy 83 last week very sick who told me he had just retired. So I don’t think it’s a bad idea to retire early at all, if that’s what someone wants and they can afford it. Why not. But I can also respect that some people enjoy what they do and want to continue doing it. I’ve met people still choosing to work into their 90s, including DH’s grandfather, who continued to do books for people as their long term accountant, and a lady I took care of who was itching to get out of her hospital bed because, at 95, she was receiving an award for teaching reading to underprivileged kids in Boston! (And she did.) God love her. It’s so individual.