Will you retire early or later in life?

Discussion in Retirement Plans started by kad613 • Jun 7, 2013.

  1. kad613

    kad613New Member

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    I have at least 15 more years to go before deciding whether I will retire or not. A few people I know have retired early, some at 55 and others at 60. They've worked at good jobs with employee pension plans that add to their income and are enjoying their retirement. Others have retired at 60 or 65 and are working part-time to keep income coming into their house. I'd like to retire at 60 but realistically I'm looking at 65. When will you retire?
     
  2. wendyjames2

    wendyjames2New Member

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    This is always difficult to answer if you are going to weigh all the things that matters. You'd have to consider your health, your working capacity and most especially your financial situation. I'd love to say I would retire at 40 but when I would have to look at my financial capacity I step back and think twice...I am not yet at my ideal financial status.
     
  3. Katewon1

    Katewon1Member

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    With how my finances are at the moment, I won't be able to retire until 10 years after I'm dead!
     
  4. thenextGeek

    thenextGeekActive Member

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    I'd really love to retire when I'm 40 but looking at my current financial status, that's not yet possible. Looking at it realistically, I think I would be able to retire at late 50s or early 60s. It's a big jump from my ideal retirement age but that's how life is. If I could somehow manage to improve my financial status by creating more sources of income, becoming more thrifty, etc. then there might be a chance for me to retire at my ideal retirement age. After retiring I'm also thinking of continuing working not for money but for myself. You know, just so I won't get bored and die from a sudden heart attack because of lack of exercise. :D
     
  5. ACSAPA

    ACSAPAWell-Known Member

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    Me too. I'm really not prepared for retirement and not where I want to be financially. I didn't get the best start while I was younger and I'm still paying for my earlier bad financial habits.
     
  6. dissn_it

    dissn_itActive Member

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    That is just way too funny! This would be me, as well. I still have a few working years left in me but I really hope that I can retire when I am at least 65. Realistically, it seems as though I am just going to have to work until I just simply can't anymore. I am not sure how old I will be when that happens but it just seems like that is what WILL happen.
     
  7. BlackSolaris

    BlackSolarisActive Member

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    For me, i would never work and just live a simple life, but because that isn't even an option, i don't know. It really depends on my financial status. If everything is okay, then yes, i will retire soon, but otherwise i will just continue work until i am done.
     
  8. ChanellG

    ChanellGActive Member

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    I would love it if I were able to somehow retire early, but that doesn't mean I would never work. I think as long as I am able I will always be doing something at least part-time and I am moving in a direction now to insure that I will always be able to have a decent income no matter where I live or what is going on in the world that might effect economic trends.
     
  9. vpresson

    vpressonWell-Known Member

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    I have never even thought about retirement or anything don't know when I will or if I ever will.
     
  10. Winnie

    WinnieActive Member

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    I think that one has to keep on working "forever" if only to insure that you don't get bored, or out of touch with the things that are going on in the world. I would love to be financially stable enough to "retire" into work that I choose to do, not still working someplace just in order to have a paycheck. That being said, I don't know when I'll be able to retire in the way that I want to.
     
  11. GemmaRowlands

    GemmaRowlandsActive Member

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    I like to think that I would be financially stable to "retire" at around 50. However, that doesn't mean that I don't want to work. I'm a writer, and at the moment I do all sorts of projects to pay the bills. But my passion is novels. I'd like to get to the stage where I could write, but not worry if I couldn't make loads of money out of it. So that's what I would class as "retiring", even though technically I would still be a writer.
     
  12. Denis Hard

    Denis HardWell-Known Member

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    I've always thought about retiring early [that's once I've invested enough to guarantee a level of financial security] so I can be free to do stuff that I love but haven't had much time to do because I have to work for cash.

    I've always had the dream of being an artist [not professionally] but to the extent where I get satisfaction from my work. So for me early retire is not an option, it's a goal I'm working towards attaining.
     
  13. ExpertAdvice

    ExpertAdviceActive Member

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    My wish is to work as long as I physically can, work should be something that you do until your very last breath, work makes a man. From where I sit, it is better to work even until you are 80, because there will be times when you need money in your senior years, and do not have that money because you are retired. Additionally, the University where I attend has several lecturers over the age of 60. And they are as active as a 20 year old. :)
     
  14. DancingLady

    DancingLadyActive Member

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    I do not expect to retire. I plan to continue working until I am no longer physically capable of doing any form of work. I can't imagine what I would do with myself if I did not work, probably just be bored and sad and want to be done with this life. I don't really believe there are enough years left in this age for my generation to have to worry about retirement, so I am not making any plans for it.
     
  15. Parker

    ParkerWell-Known Member

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    My goal is to be financially free. I'm not there yet. I never really plan on retiring completely. I won't be working for someone else. I will not be punching a time clock, but I will be doing some type of work. I can see myself working for a charity or non profit doing something worthwhile. Of course, my dream is to start a non-profit or charity.
     
  16. Thejamal

    ThejamalActive Member

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    I think it's entirely dependent on each person's individual situation as to when they'll retire. I think everyone would love to retire as soon as they could, but it's smart to be in a confident financial situation before doing so. Even though I'm a long way away from retiring, I wouldn't consider it until I was at a point where I wouldn't have to worry about money for the rest of my life.
     
  17. eagletal88

    eagletal88Active Member

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    I am already semi-retired at 31. I travel quite a bit and do online work when I can. When I live in my home state, I work part time jobs and save for my next travel. I never plan to fully retire, and once kids come along, things will have to change a little bit. But the most important step I have taken to live this life-style has been getting out of debt as SOON as possible. The next step I took was to live a super-simple life; A minimalist life.
     
  18. owesem75

    owesem75Active Member

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    If you are still able.. just work.. just enjoy life.. but it doesn't mean that you spend your life like there's no tomorrow. savings and investments are good.. the age of 60-65 or simply the retirement age will come no matter what.. so enjoy life but be ready (by saving) when you get old so you do not need to depend to anyone while continuing to enjoy life with the retirement fund you saved when you were still strong and youthful.
     
  19. Onionman

    OnionmanActive Member

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    Health permitting, I don't want to retire really. I might want to relax a bit more then, but the idea of switching off my capacity to earn and produce doesn't appeal. I'm more likely to have my own businesses at that point, but that's part of my strategy.
     
  20. ExpertAdvice

    ExpertAdviceActive Member

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    I won't ever retire, as soon as I get going, I'm going until I die. I love to work. I love to have money and the only way to get money is if you...work for it. The good thing about my professions is that I have no tenure, and by that I really mean, I am a self employed professional so I will not have to think about retiring.
     
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