Topic: Early Retirement [Pros and Cons] (Read 1631 times)

Here in out country on which on the time that you do able to hit up that age of 60 specially when you are working on a government agency or some big private companies then you could really be having that kind of optional
retirement on which neither you would completely be taking those retirement funds @60 or would really be that opting out for working even more until 65 on which it is already the maximum. There's no way that you could really be able to get some retirement on just having that few years when it comes to your service or work, not unless if you have really just simply quit and retire on your own will just because you've seen
that you are already that financially capable on which you could really be able to sustain and survive without relying on any work or having that day job.

We know that there are different or various circumstances or conditions on which you would really be making yourself that able to make out decisions on which it is really something that you do wish for.
There are people who are really that preferring on cherishing out their lives without needing to be shackled with that 8-5 thing or being an employee for the rest of their lives. Although some becomes that successful but majority would really be having no choice considering that not all would really be able to achieve their goals and targets in life on which it would really be resulting on just simply staying
on where they current are and this is in fact the reality.

Wow! the cases you are describing are quite hardcore, and I agree that the thirties are not a good age to retire early. But I don't think the same for other ranges of age.

In my work there is a colleague that is in his sixties and just decided to quit early. That will suppose a big discount in his retirement pension, and many told him that he is mad, but he wants to enjoy the good years left, and I respect that. In Spain the retirement age is 67, and increasing, and some of us won't get to that age, so early retirement can be a wise decision in some cases.

I have also a friend that has aged 30+ and he got early retirement from the Armed Forces, he has a total of 12+ years of his job. But he took retirement very early, now he doesn't have any job and the pension which is issued by the government to him is very less and he cannot afford even his children's school fees. So, I have taken a lesson from his early retirement that early retirement is not a good idea, but If a person has some other business then it would be better for him. Otherwise without any other way of earning, taking retirement may lead to economic problems.

The main problem is finances, everyone definitely wants to retire at a young age and do many things they like without having to have the responsibility of working, but financial constraints force someone to continue working.
In my opinion, there is no problem for people who want to retire early or want to work as long as they can because we don't know what people like and we also don't know the reasons why people work (on average it's because of finances) but there are also people who work because of their hobby. and his desires.

Personally, I have thought about retirement and financial freedom in old age. Even though I have made plans, that doesn't mean it will be easy for me to achieve it, so that's why I continue to work, build assets and other businesses to achieve financial freedom in old age. Later, no matter how old I am, I will achieve this. This is definitely not a matter of age, but of readiness.

              -  How many years is it now, mate? I'm just asking. If you are under 40 years old, you still have a long way to go; that's the age at which long-term employees often retire. My mother, at the age of 55, retired; now that she is 60, she receives her monthly pension of around 230 dollars every month.

Because of the retirement fee he got, she repaired her house, she took during the time she was still working. She didn't use his retirement fee correctly except for repairing the house he inherited from his son. Now, it's like she's the one living in his house because the son-in-law has a bad attitude. So she just depends on her pension, and sometimes I reach out financially.

You're absolutely right. Relying on income from a single source is highly risky when it comes to sustaining one's finances during retirement. This is especially true when that source is agriculture, where substantial risks can threaten income derived from the farming sector. We might encounter issues such as pest infestations, adverse weather conditions, or specific diseases that can render harvest earnings highly unstable.

For early retirement, below the age of 40, it's advisable to have several stable income streams to serve as benchmarks. Perhaps two or three businesses that can provide passive income or businesses that operate on autopilot. Moreover, you should have trustworthy individuals who can adapt the businesses to keep pace with the evolving times.

Retirement isn't merely a matter of timing; it necessitates thorough preparation to ensure a consistent income stream even when physical labor is no longer an option.

The thing is, if you wanna ensure that you can have a good early retirement you'll have to secure a stable financial lifestyle that will last for the rest of your life. If you only focus on the now and a few years ahead chances are you'll be finding yourself back to work in a few years when all your financial savings and investments are all used up. Hence, it is suggested to build or find a source of income that will be constantly providing you with all the financial needs you'll require.

Even the richest people in the world are still working until old age, such as Warren Buffet and of course many others, because by continuing to work, our brain and body will continue to work properly, which will be reduced when we choose to retire
Retiring early without any replacement activities, especially if you are still very young, will only lead to more boredom and make us rarely do physical movement, which ultimately causes health problems, because going on continuous vacation will give you boredom later.
I really want my investment to be successful, but not to retire at a young age, but to guarantee a better life when I'm old, which of course will be very limited in earning income and also because price inflation will be much different from now, so without a successful investment it's impossible to live a better life when I'm get old.

In my country people usually work until more than 35 years old so I think this is a waste of time, I have worked more than 5 years since I graduated and hope that in a maximum of 5 years I can retire when I am around 34 years old, I want to do things I like like traveling and now I'm investing in fruit plants and I'm sure in 2 or 3 years the harvest will come true and I can make my dream of retiring soon come true.

In my opinion, people who retire from work can be due to several factors, whether it's family or the economy, but most people who retire want to spend time with their family, so they can fill their seniors' time and sometimes we work not because we like the job, but because the work environment makes us feel at home. Even though the income is not much, the work environment makes you comfortable and will make you feel at home in the job itself.

But back to ourselves, we have the choice to stay or retire, if you retire, have there been results that make you satisfied or something that can produce long-term results that can be passed on to relatives or family. I personally will retire if I have my own business that can support my family so I don't depend on other people for work, what about you?

that might be a thing, it is indeed true that having job keep minds sharp, that also why many of entrepreneur refuse to have retirement but to work for his own company to the end of their life.
but some people will definitely have different idea about retirement, there's some people that don't really like their jobs doing 9-5 that just want retire young and get financially independent to do their hobbies.
which from their hobbies they can generate revenue and income from, its just as good as having job, keeping mind sharp, but you like to do your hobbies, therefore the supposed "work" become a fun thing to do.
I think thats what motivates many retire young, because they want to do something else.

I think any kind of retirement is a bad idea for a lot of people. Work keeps people minds sharp and their body healthy (decent work, not sitting 10 hours in a chair work). Once those kinds of workers go into retirement, they become lonely and sad. They have nothing to do with their life. Every day becomes the same dull shade of gray. If you are in a job that you love and you work with people that you love then a money-making does not become the priority of a job but rather having a reason for living. Your purpose becomes your reason.

We see way too many people go from 70 to 100 in a matter of months. From my experience with the elderly, I think they may have been happier with a job or a reduced-hour job than with retirement.  

Chasing up more dreams isnt really that bad but we know that once you have acquired or achieve something that you have been hoped for or really comes into a point that your finances had been that stable on which it did come into a point that it isnt really that something for you to wake up early and go to work then most probably you would really be having those kind of thinking that you would really be needing to retire and would really be that just focusing on how to make those relaxation or trying to make yourself that get rewarded after all the hardwork that you have done. Also, on what age you would really be considering on trying to travel? When you are already that 60-70? That sounds that never been that enjoyable.This is why as much as possible on where trying out to reach that kind of financial freedom then you would really be trying out your best to achieve on shortest time so that you do still have the time on cherishing out if ever you do have those kind of plans.

Somewhat there are people who do really have the passion on working and doesnt mind about the money that they are earning as long they do really love on doing that they do want to do.
This is why we cant really be able to judge on whatever decisions been made by those people who had chosen up on trying to stay with their jobs until to that
retirement threshold. We do have our own choices in life though.

Making the decision to retire early shouldn’t be considered foolish and isn’t a sign of laziness. There are folks who are only too happy to work but were forced into retirement due to having a serious injury or some health conditions that could prevent them from actively working.

I would admit that retirement could get extremely boring when you’re idle and have a lot of free time on your hands. But with that free time, you can do what you’ve been meaning to do but couldn’t get around to doing it cause of work engagements. That’s why a lot of people plan to retire early so they’ll still have the energy to actually enjoy retirement doing other things they love.

I honestly have never thought it wise to retire early even if I have made the whole money in the world, in my own assertion, i would say that its only lazy people, people without vision that think that retiring early is actually an achievement, for me, it is absolutely not, not when i have dreams, and even when I keep accomplishing those dreams, more dreams keep coming.

I know we all are entitled to our different opinions and I honestly respect everybody's opinion on this subject of discussion, but for somebody like me, I have no dream of retiring early, how much money I have made is not a factor to consider, and neither is my achievements a factor as well, life will be so boring if I ever have to sit around doing nothing, even in old age.

Except i get so damn old that i have to be pushed around in a wheel chair, but as long as i can still walk with my foot, and see clearly, i will be working, bringing new ideas to live, working in old age can be fun if only we can learn to mentally accept it even now that we are still young.

I can share my experience. I've been a financial director for many years, and by the age of 25, I had already earned enough money to retire. However, in the end, you come to the realization that it's extremely boring not to be useful, so you go back to work, but on your own terms. For example, you work for 4 hours a day or in a place that's convenient for you.

I would say that early retirement is a dream for working people, except for a small minority. Thanks to Bitcoin, we can retire early, but we can never know if Bitcoin will rise to the amounts that will make us retire early, so we should follow different ways to retire early. Since the pros of early retirement outweigh the cons, we might as well not talk about the cons. I think it is important what people expect from early retirement.
It is normal for someone who has a house, a car and enough money to live until the average age of death to retire early to enjoy the rest of their life. However, not everyone thinks this way and there may be people who want to retire early with millions of dollars. People's expectations, how they want to live after retirement and the factor of friends can change the expectations in early retirement. In my opinion, early retirement is a right that people should have if they have goals and plans for the rest of their lives after retirement.

This is what i do have in mind is on having that trying to make some business or investment on which it would really be giving me out the chance on having that early retirement and wont really be tending to last up that on entire years of working and if i would really be given some chance and some mix of luck for me to make some huge money and do able to make some passive income then i wont really be hesistating on stopping or retiring my current job and would really be that spending the rest of my life with my wife and doing on the things that i havent done before, like vacation/travel, buying some wants or likes that havent done before.

Agree on this one that this would really be that still involving some mix of luck because majority of employees would really be that retiring on the time that they would be able to reach out a certain
age or years of service before they could really be able to retire not unless if they do found themselves that sustaining then for sure they would really be that be retiring early but on the time
that you do see that your income stream isnt really that still enough then it would really be that a suicide on making yourself that retire or having no job
but you do know that there's no source that you could get for you to have a living which its that a really bad idea to be made.

While that's the ideal retirement for most, I have seen people telling themselves to retire at an early age of 35-40 and if they can do that what are they gonna do next? Are they rich or will they continue to work but at a minimal level for which they consider themselves by that time is already a retirement to them? But putting that into context, when we're getting old we're looking for the things that we used to do and one of it is working or doing things like the hustles that we've got.

We're all hoping for that to come and the majority of us would be retiring for sure and will build other income streams coming from that profit, going into another investment or income-generating asset. It's not just tiring to get into such activities when you've been used to it whether you declare retirement or not.

Lucky are those who retire before 60, and enjoy their lives,and enjoy their life.Retirement between 50 and 60 is an ideal time,If one has a family and children are employed.After 60 years the effect of old age starts and after that it is not easy to enjoy life,So if one gets free time at the age of 50, he can enjoy the rest of his life more.

I don't know what age group you are in right now, but it will take years for Bitcoin to reach a million. If you are waiting for Bitcoin to reach the price of one million, then you must have invested in Bitcoin, and if you have invested, it is definitely the best decision for the future. That is why you are preferring to retire before the age of 60. I think all of us working people should invest for our retirement. Whether it's in cryptocurrency, real estate or gold, long-term investing is essential to living comfortably for the rest of your life.