Early Retirement [Pros and Cons] - page 2.

Lanatsa

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Quote from: slapper on October 10, 2023, 02:33:43 AM

Quote from: dothebeats on October 09, 2023, 11:47:28 AM

Quote from: Frank_Holo on October 09, 2023, 06:18:20 AM

I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

That's true. I think the term retirement is just different now compared to before when retirement is actually finally giving up the long time work cause age has caught up and the limit has been reached. It was more of a finished line that everyone would eventually reach and it'll be the end of the career path every individual have. However, today, retirement means finally being free from the 9-5 job and having the financial stability needed to finally have the freedom to do what we are passionate about and not worry about how much we'll make at the end of the day cause that's already taken care of; it doesn't matter if we choose to start our own business, go on vacation around the world, or even take on a job that people will look down on because of the low salary because it doesn't matter.

Retirement was once considered the end of a lengthy journey and a reward for hard labor. Finish line. Now, though? Retirement means freedom. We're breaking away from the 9-5 grind and embracing what counts

Aren't our economic and social changes fascinating? Financial security today is having enough to live, not simply survive. It's about being able to travel, establish new businesses, or take on low-paying yet rewarding work. Why? Financial concerns are resolved

How does this affect our economy and human goals? Is society learning to define success and fulfillment holistically? Consider it

Not on the sense that you've been paid up because of the service that you have given on a certain company or institution for long years which here in my country which those amounts would really be just basically be pulled on the contribution that you had made all over the years or came from the deduction that you do have on the time that you are really still working which its not really that something an amount that they do own but rather you are the ones who are really that accumulating all over the years.It did really just turned out to be big just because considering on how long you've been working then you wont really be noticing about those accumulated funds overtime.

Some people would really be that eyeing for the benefit like on having that pension fund which it would really be supporting them on the time that they dont have any work but its true that as much as possible
then i would really be liking to retire when im not really that too old because its really just that not good to retire when youare really not be able to cherish out on the amount that you had been received.
This is why if i do have the chance with my current day job then im not really that anticipating about huge retirement amount but rather finding up ways on making myself that financially stable
and could really retire early.

tread93

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Honestly i'd love to retire in my 50's or 60s. By that time my family will have grown and if I had the time I think it would definitely be more enjoyable. Hopefully by then BTC will for sure have gone up to 1 mil lol.

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Quote from: puloweh555 on October 10, 2023, 08:12:34 AM

In my opinion, the country will progress if civil servants aged 58-65 years are forced to resign or retire early, because the mindset of employees of that age is on average bored with their work, more money-oriented, and they even tend to already know. Weaknesses in the system in the institution give rise to opportunities for corruption. The average civil servant aged 58-65 years finds it difficult to adapt to technological developments.

Which country are you talking about? Because if you are talking about this for your own country, you should also know that at that age it is time for civil servants to be retired by the state and only receive their retired salary every month. Apart from that, adapting to the latest technology for those who are that age is no longer possible for them to learn, even if it is still possible it will not be optimal because at that age it is time for them to rest without having to resign as you said.

Quote

It is true, if we look at performance compared to age, there are several civil servants aged 58 years and over who are still very productive and contribute more than the younger generation, but this number is still small.

Now many of the younger generation have become civil servants and their job is to be as productive as possible so that their performance can be better than that of older civil servants. Because the working years of older employees are no longer long, they all must also provide the best advice to the younger generation in order to be able to apply satisfactory performance in their respective fields for their own country.

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So I agree with early retirement. It's best for those who are 58 years old and can retire so that the younger, more creative generation can have a place, and at that age you can retire so you can share time with your beloved family. If they are over 58 years old, their creativity and strength will weaken.

In fact, from the opening of candidates for civil servants every year in your own country, you can already conclude that the state does not turn a blind eye to the younger generation in this matter. Because the government always provides opportunities for everyone who wants to become a civil servant every year so that with young people, the government can immediately make rotations or retire those who have time to retire in order to provide a place for the current younger generation.

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Quote from: nurilham on October 06, 2023, 04:34:31 PM

Quote from: Spaceman1000$ on September 20, 2023, 09:25:28 AM

Retirement is good but it was designated to be at certain age. For instance in my country the legal age to retire is 60 years, but you can only work actively for 35 years before retirement.

Agree. We have no problem with retirement when it is in an ideal age. For people above 60 years old, it is okay to retire from certain professions. In my country, Most civil servants or government employees retired about 60-65 years old. Meanwhile for private workers, the end of their career can be varied. It can be below 60 years or more. However, generally, it is true that 60 years is the common age for retirement.

In my opinion, the country will progress if civil servants aged 58-65 years are forced to resign or retire early, because the mindset of employees of that age is on average bored with their work, more money-oriented, and they even tend to already know. Weaknesses in the system in the institution give rise to opportunities for corruption. The average civil servant aged 58-65 years finds it difficult to adapt to technological developments.

It is true, if we look at performance compared to age, there are several civil servants aged 58 years and over who are still very productive and contribute more than the younger generation, but this number is still small.

So I agree with early retirement. It's best for those who are 58 years old and can retire so that the younger, more creative generation can have a place, and at that age you can retire so you can share time with your beloved family. If they are over 58 years old, their creativity and strength will weaken.

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Quote from: dothebeats on October 09, 2023, 11:47:28 AM

Quote from: Frank_Holo on October 09, 2023, 06:18:20 AM

I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

That's true. I think the term retirement is just different now compared to before when retirement is actually finally giving up the long time work cause age has caught up and the limit has been reached. It was more of a finished line that everyone would eventually reach and it'll be the end of the career path every individual have. However, today, retirement means finally being free from the 9-5 job and having the financial stability needed to finally have the freedom to do what we are passionate about and not worry about how much we'll make at the end of the day cause that's already taken care of; it doesn't matter if we choose to start our own business, go on vacation around the world, or even take on a job that people will look down on because of the low salary because it doesn't matter.

Retirement was once considered the end of a lengthy journey and a reward for hard labor. Finish line. Now, though? Retirement means freedom. We're breaking away from the 9-5 grind and embracing what counts

Aren't our economic and social changes fascinating? Financial security today is having enough to live, not simply survive. It's about being able to travel, establish new businesses, or take on low-paying yet rewarding work. Why? Financial concerns are resolved

How does this affect our economy and human goals? Is society learning to define success and fulfillment holistically? Consider it

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Quote from: Frank_Holo on October 09, 2023, 06:18:20 AM

I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

If we talk about normal retirement then this is clearly different from Financial Freedom. Because the concepts of the two are clearly different.

But if we talk about someone who has managed to collect a lot of money and it is estimated that this money will be enough to meet all his needs for the rest of his life after he stops working. So he decided to stop working even though he was still young because he was confident enough that the money he had would be enough to meet all his life needs after he stopped working. And the conditions are indeed a bit similar to financial freedom.

But still the concept is still different. But people who are able to achieve early retirement should be people who are good at managing finances and have made thorough financial preparations. But still, someone who retires early does not necessarily have financial freedom. But people who already have financial freedom seem to have much more freedom in their lives. He is free to retire at any time because he no longer worries about money. But people who retire early actually only have more limited finances. That is limited to the finances they have collected or something similar. But they don't really have financial freedom yet.

But I feel that people who are able to reach the early retirement stage are people who are close to the next stage, namely financial freedom.

Mauser

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Quote from: chigo on September 20, 2023, 08:32:12 AM

this story is the same as what my cousin experienced, he retired early (at the age of around 35 years) now he is around 45 years old but there is an illness he is suffering from and he has to get proper treatment which quite expensive, so he sold some of his valuables and also withdrew his investment in shares.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

Retiring at 35 years seems crazy, at least for me there is no chance to retire at such a young age. When reading the title, I thought at first the early retirement age would be around 55 years, which already 12 years below the official retirement age in my country. Which also would be my goal to retire before I become 60. I find it surprising that someone as young as 35 can already earn enough money that is going to cover for the rest of his life. Becoming ill and requiring expensive treatment is pretty common these days with people becoming much older. It doesn't really matter at what age we become sick, if we don't have enough saving in our retirement plan for it than we are doomed. That is probably why I would never consider retiring before the age of 50. There are still so many unexpected things that could happen in our life, that we would need a lot of money to account for it. Also, in retirement I would like to live of the returns and dividends of my investments and not touch the actual savings money.

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Quote from: Frank_Holo on October 09, 2023, 06:18:20 AM

I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

Yeah I am a gear head. Fixing and runing gear is what I like to do.

So mining ⛏️ with 150 gpus and 100 plus asics is ideal for me.

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Recently a grandpa aged around 85 years of age got viral in our country. He was a common man residing at the rural part of the country in a small house that is much of a traditional look. He share what he had invested and what is the value of his investment in present value is around $12 million which is a very very big money. He had invested long back taking into consideration his retirement. Now he had experienced the good out of the investment.

The present generation is of this kind, the primary focus is on some solid investment taking account of their future retirement. Not many able to make good money out of the investment at the shortest. People who were lucky or who had predicted the growth in a better way gets the opportunity to retire earlier whereas the rest just continues with their day jobs.

dothebeats

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Quote from: Frank_Holo on October 09, 2023, 06:18:20 AM

I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

That's true. I think the term retirement is just different now compared to before when retirement is actually finally giving up the long time work cause age has caught up and the limit has been reached. It was more of a finished line that everyone would eventually reach and it'll be the end of the career path every individual have. However, today, retirement means finally being free from the 9-5 job and having the financial stability needed to finally have the freedom to do what we are passionate about and not worry about how much we'll make at the end of the day cause that's already taken care of; it doesn't matter if we choose to start our own business, go on vacation around the world, or even take on a job that people will look down on because of the low salary because it doesn't matter.

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Quote from: chigo on September 20, 2023, 08:32:12 AM

I read a very interesting article that actually happened very realistically.

Quote

retiring early is the new American dream. Imagine working for 15-20 years (instead of 40 years), investing half your income and retiring in your 30s or 40s. But a few early retirees have found out that it’s not as amazing as they thought it would be. We chatted with a few people who retired early — and then realized retirement wasn’t for them and started working again.

- I Wanted To Continue Providing Value
While retiring conjures up images of spending all day on the beach, many early retirees don’t feel satisfied doing nothing.

- I Wanted a Challenge
Retirement removes the challenges that work presents, which can be a good thing, but may also lead to boredom and a lack of purpose. Early retirees who have gone back to work respect the challenge of working for a business.

- I Wanted More Financial Security
Retiring early takes long-term discipline and a large enough nest egg to support your needs for the rest of your life. Sometimes early retirees simply didn’t have as much as they thought they needed or wanted more money to feel secure.

- I Didn’t Want To Retire, I Just Needed a Vacation
When you’re stuck in the daily grind, you might feel like the only escape is retiring from work forever. But in some cases, you are simply working too hard and need a long vacation.

- I Have a Passion for Entrepreneurship
Once you are retired, you have more time to pursue your passions. For some, those passions include entrepreneurship and running a business.

Read More: https://www.msn.com/en-xl/money/other/i-retired-early-and-regretted-it-why-i-went-back-to-work-to-continue-building-wealth/ar-AA1fBYHz?ocid=hpmsn&cvid=f2c759f9480f49fea02aa0d8288cc290&ei=16

this story is the same as what my cousin experienced, he retired early (at the age of around 35 years) now he is around 45 years old but there is an illness he is suffering from and he has to get proper treatment which quite expensive, so he sold some of his valuables and also withdrew his investment in shares.

as long as you can still make money, don't even think about retiring early, I know early retirement is everyone's dream but who knows what will happen next, you have to maintain your grades and productivity so that you stay healthy and respected by people.

Early Retirement is out of my mind..by the way why will one be retiring so early!? Probably the nature of the work he /she does or another thing looking at the age range of the person,so one may seem to retire early.

To me I feel retiring its the thing of the pensioner's subsequently working under a private sector or the government.
Ones your retired it means you have been relieved off your duty.
But one who have things working for him won't be having that in mind or be thinking of working where u maybe retiring anytime soon.

You may have assets,businesses nd lots more and still sit back at the comfort of your home and watch them grow nd earn as much as you want,so it doesn't literally means your retiring early.when your the boss you don't need to be retired.

Frank_Holo

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I feel like the word retirement has a totally different meaning in the 21st century. I doubt anyone actuals "retires" anymore, it more like financial freedom to just pursue what you want, when you want.

I'd happily "retire" onto a nice plot of land and fix up old cars, it'll be hard work but I'll be doing what I want knowing I've already secured my financial freedom.

Just my 2 cents Grin

bitterguy28

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Not sure if there are truly a retirement at age of 35? or even 40? you need to live a life with what you are holding meaning a semi if not luxurious life.
so how can you manage to support that and with your family expenses when you retired that young?

and how stupid that could be when you can at least continue having businesses of even shares from stocks and of course Investment in cryptocurrency instead of letting your funds sits in your bank accounts?

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Quote from: Latviand on October 08, 2023, 10:04:31 PM

The problem that this people who have retired early is that they probably don't have a life outside of their work and now they end up miserable because they have nothing to pass the time, my advice to those that want to retire early is to at least find a hobby or two, read or write a book, practice drawing or painting, there's more to life than just traveling when you're retired. Trust me on that advice, makes your boring days a normal day or the best day if the hobby that you've dedicated your time into makes you happy everytime you do it.

Agree with you but there is no problem if every person retires at a young age (40 years) if he has enough money to do something good with that money in the future. Although retired people can do more than reading books, traveling, and painting etc. As far as I can tell a man doesn't stop doing things even after retirement, gardening and tending the garden will not make life boring. That's why I think a person should not take it at a young age. Because sometime it will be seen that reading books, traveling, painting will become boring. So everyone should do things that can lead to happiness in daily life. Should not retire even after 40 years.

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Quote from: Latviand on October 08, 2023, 10:04:31 PM

The problem that this people who have retired early is that they probably don't have a life outside of their work and now they end up miserable because they have nothing to pass the time, my advice to those that want to retire early is to at least find a hobby or two, read or write a book, practice drawing or painting, there's more to life than just traveling when you're retired. Trust me on that advice, makes your boring days a normal day or the best day if the hobby that you've dedicated your time into makes you happy everytime you do it.

Agree. But when someone has a particular hobby, they are successful in retiring at an early age with a large enough savings which is expected to be enough for future living expenses. So those who have a hobby will definitely not regret their decision to retire early.

For example, if we have a hobby of exploring all the beautiful places in all countries in the world. So I think we really have to retire early to do that.
And for someone who has a hobby of writing, they will also be more productive in writing and sometimes they will produce extraordinary books in their retirement. The point is that by having a hobby, we will not get bored in living our lives.

Latviand

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The problem that this people who have retired early is that they probably don't have a life outside of their work and now they end up miserable because they have nothing to pass the time, my advice to those that want to retire early is to at least find a hobby or two, read or write a book, practice drawing or painting, there's more to life than just traveling when you're retired. Trust me on that advice, makes your boring days a normal day or the best day if the hobby that you've dedicated your time into makes you happy everytime you do it.

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Quote from: erep on October 08, 2023, 02:01:49 PM

When someone decides to retire early at the age of 45-50 years, they must have a plan to prepare another job according to new skills that may not interfere with time with family. Many early retirees already have their own business that has been running for a long time along with their previous job. They must ensure that their monthly income is still the same as the salary in their previous job, if their income is lower they will have difficulty paying for health insurance, according to information that the cost of health insurance increases depending on age level, and many other routine expenses must be considered, so don't rush to take it the decision to retire early without the guarantee of being able to work in another job.

That's why when someone decides to retire early, they must have a plan for their life journey, relying on their salary or severance pay from their pensioner may not necessarily be enough to send their children to school, health insurance costs or other unexpected costs. Early retirement can provide opportunities for someone who has skills in the field of business development because they can focus on running it seriously. If someone has skills in building a business, taking early retirement may be a good consideration so they can achieve greater financial freedom than before.

This consideration must be a wise decision, so that when we make a decision it does not endanger our daily lives. Every day life will definitely change and for those who dare to get out of their comfort zone and have a concept in living it, they will be more focused on achieving financial freedom.

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Quote from: Davidvictorson on October 08, 2023, 10:01:05 AM

We spend half of our lives working and the retire tired at 65 - 70. Those who retire early, 45 - 50 get to spend more time with family, friends, hobbies, and passions, as well as the opportunity to learn new skills, play instruments, engage in sports, and enjoy youthful activities. Its fun. Despite people saying that the lack of health insurance is a disadvantage to early retirement, I tend to think that an early retiree who may not be able to afford healthcare can opt for part-time employment to maintain affordable health insurance. Where this is not possible after a thorough thinking, then the individual must choose to continue working until it is sorted out.

I personally think that early retirement only suited if we already got all things for ourselves including health insurance at least money to pay for it and also getting passive income.
without those i doubt the early retirement will let us having good time considering we will have constant worries without source of income and there's many bills to pay.
therefore having passive income is I guess a thing that can't be underestimated when it comes to preparing early retirement.
i would say i wouldn't even dare to have retirement without all these things set up just to give ease of minds.

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Quote from: erep on October 08, 2023, 02:01:49 PM

Quote from: Davidvictorson on October 08, 2023, 10:01:05 AM

We spend half of our lives working and the retire tired at 65 - 70. Those who retire early, 45 - 50 get to spend more time with family, friends, hobbies, and passions, as well as the opportunity to learn new skills, play instruments, engage in sports, and enjoy youthful activities. Its fun. Despite people saying that the lack of health insurance is a disadvantage to early retirement, I tend to think that an early retiree who may not be able to afford healthcare can opt for part-time employment to maintain affordable health insurance. Where this is not possible after a thorough thinking, then the individual must choose to continue working until it is sorted out.

When someone decides to retire early at the age of 45-50 years, they must have a plan to prepare another job according to new skills that may not interfere with time with family. Many early retirees already have their own business that has been running for a long time along with their previous job. They must ensure that their monthly income is still the same as the salary in their previous job, if their income is lower they will have difficulty paying for health insurance, according to information that the cost of health insurance increases depending on age level, and many other routine expenses must be considered, so don't rush to take it the decision to retire early without the guarantee of being able to work in another job.

Health insurance aside, we have the inflation to keep in mind. The cost of every purchasable goods and services continue to increase. To retire at a young age, it will take a lot of effort, decision making and things that needs to consider. You have to had a long running business, properties to lease, or at least a source of income that can help to sustain the daily expenses (needs and wants).

Quote from: chigo on September 20, 2023, 08:32:12 AM

- I Wanted a Challenge
Retirement removes the challenges that work presents, which can be a good thing, but may also lead to boredom and a lack of purpose. Early retirees who have gone back to work respect the challenge of working for a business.

Early retirees also feels like becoming weak as they stopped working. Their body and mind is looking for the challenge, the movement they used to before. Also, there are a few people to talk to as most of people around is working.

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Quote from: philipma1957 on October 07, 2023, 05:37:28 PM

Yeah my wife is on her fourth nasal doctor trying to control the post nasal drip 💧 which is hard on your lungs. Have to be persistent. My vascular injury from covid if not dangerous and I have done therapy to correct it quite a bit. Biggest issue for the wife and I is a bit of fear of crowded spaces.

Your plan's working you're taking measure to safeguard to stay away from crowds so there aren't more steps to include extensively.

Quote from: philipma1957 on October 07, 2023, 05:37:28 PM

We went to a birthday party and the father used relighting candles so his daughter and seven other kids worked very hard to blow those candles out. My wife and I did not eat the cake 🎂. As 7 kids 8 to 11 going to three schools between them kind of made us afraid germs.

Eating cake from kids blowing out candles isn't the correct invitation!

Quote from: bayu7adi on October 08, 2023, 04:53:16 AM

In the event of a delay, perhaps by the time we reach 55, we may not have achieved all five businesses, but even if we possess three autopilot businesses capable of generating passive income, wouldn't that be satisfactory? In essence, we would still be able to retire and savor our golden years with our loved ones.

You don't have to wait to reach 55. If you're investing using cryptos to give financial space to your pension for receiving higher wages you'll have to be wise. You require patience to gain returns from investment. Put some cash in cryptocurrencies because it's the future but don't invest unless you've calculated conceivable losses.

Topic: Early Retirement [Pros and Cons] - page 2. (Read 1645 times)