Early Retirement [Pros and Cons] - page 6.

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Quote from: dothebeats on October 01, 2023, 12:55:54 PM

Quote from: 3kpk3 on October 01, 2023, 12:47:01 PM

This is a very subjective topic op. Firstly, no one knows how long they will live which is why retiring early is preferred over retiring late. Imagine saving a lot of money and retiring late only to expire shortly after. Crazy regrets!

Secondly, most early retirees are happy with their decision. The ones that you mentioned are part of the minority who can always come out of retirement.

I disagree with you. With the current condition of the global economy, more and more early retirees are back to seeking jobs and any sources of income. While it is true that retiring early allows people to finally have time for themselves and enjoy life, majority of the people see it as a hard-to-reach goal due to inflation and the possible hit it will cause their financial stability once they choose to stop working. Hence, I wouldn't call this a subjective topic.

Indeed, it depends on the circumstances, not all people who have retired early have lived a happy life just like others. Retiring early would mean smaller monthly pension in most instances. Sometimes, the money they are getting on a monthly basis, is not enough to have a satisfying life. But this is not to invalidate those who have retired late but did not manage to enjoy things because of certain conditions such as medical health and responsibilities. It depends as well on the lifestyle you are living upon your retirement whether it would be sustainable or not. It could either as well be dependent with how an individual handles his/her finances well upon retirement. But if it were in my case, i'd be fine retiring at the max age if i have no other sources of income such as investment or business but if I have ofcourse i'd be choosing to retire early and to enjoy life at its fullest.

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Quote from: 3kpk3 on October 01, 2023, 12:47:01 PM

This is a very subjective topic op. Firstly, no one knows how long they will live which is why retiring early is preferred over retiring late. Imagine saving a lot of money and retiring late only to expire shortly after. Crazy regrets!

Secondly, most early retirees are happy with their decision. The ones that you mentioned are part of the minority who can always come out of retirement.

I disagree with you. With the current condition of the global economy, more and more early retirees are back to seeking jobs and any sources of income. While it is true that retiring early allows people to finally have time for themselves and enjoy life, majority of the people see it as a hard-to-reach goal due to inflation and the possible hit it will cause their financial stability once they choose to stop working. Hence, I wouldn't call this a subjective topic.

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Quote from: Dimitri94 on October 01, 2023, 10:12:08 AM

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.

If fate doesn't favor then man has nothing but ignore it. Every man is mortal and must die. However, if one is diagnosed with a fatal disease before reaching the appropriate age(old) , nothing can be done. Not everyone can retire at the age of 35. It was a joy for him as he got into retirement but everyone has to worry that he has a future. If early retirement comes, then it is natural that his later life will be rough. On that account the mentioned person must have needed to make more assets or if he had kept some money for his emergency rather than putting all his money in the shares then he would not have to sell the shares.

Fate would definitely be one of the factors on which it would determine out whether you would live a life longer or not which we know that there are people who dont reach out that retirement age but had already experienced out those unfortunate conditions on which we didnt really been able to hope for. Retirement on age 35? On the time you would really be able to reach this then it would really be just that you had won up something big on lottery or getting some inheritance or do able to succeed on business but if we do talk about on your day job then retiring on this age is not possible. Life is indeed rough and things wont really be just as smooth on what you are anticipating on which decisions would really vary whether you should do this or that just to make yourself put up on a situation on which it is really that better.

There's no way that we could do or tell on whats ahead and this is how we should really be that doing our very best and cherish out every moment that you do have on this world because we dont know
on how long we would last. Speaking about retirement then it is really just that too soon but if thee are some opportunities of better things then why would
tend to ignore or reject it out?

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This is a very subjective topic op. Firstly, no one knows how long they will live which is why retiring early is preferred over retiring late. Imagine saving a lot of money and retiring late only to expire shortly after. Crazy regrets!

Secondly, most early retirees are happy with their decision. The ones that you mentioned are part of the minority who can always come out of retirement.

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Quote from: abel1337 on September 30, 2023, 02:27:19 PM

My plan is to retire early. Cryptocurrency is I think my gateway to that early retirement as I am trying my best to accumulate as much crypto as possible. If I profit enough, I guess I'll make a business out of it that can produce income to me without a burden job like having multiple rentals or flipping things in the market. It suck to work on a job but it is currently the one that supply me money to buy crypto. I don't plan to live a glamorous life after retirement but I want to have money and asset that can make me survive and live longer without the stress I'm currently having.

If you have plans to open your own business, that means you are not really retiring early, you are just changing the way you make money (from an employee to an entrepreneur), there's no need to rush to get out of the job that's giving you good money right now, you're just feeling bored or fed up, or maybe there's a problem at work that involves you and your friends? if yes then finish it well or go on holiday for a while to clear your mind, surely you will return to work with enthusiasm.

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If it's possible to put funding in place so you're able to retire before 50 it's heaven. It isn't a nice feeling you're going to work when you're old and grey because you didn't invest or save when you were young. If you're running your own business it's different but if you're an employee you won't make it big. It isn't easy building your own financial empire from wages but if you can avoid working like a horse when you're young and old it's worth a try.

Quote from: mindrust on October 01, 2023, 10:21:39 AM

I don’t agree with the OP on this. You should retire if your passive income is strong enough. Especially if you are working as an employee, you should get retired as soon as possible. You may start your own business and keep yourself busy later on but never ever work for somebody else. It is because if your paycheck is $2k, you are probably giving your boss $2k for the work you do. In other words your employer is getting rich from your hard work. I know most people don’t have much of a choice at the beginning but it is not your destiny to die like a work horse. You can build your own financial empire while wageslaving. (Assuming that you are making more than the minimum wage.) it will take some time but if you make the right moves you’ll be financially secure before your 50’s.

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Quote from: mindrust on October 01, 2023, 10:21:39 AM

I don’t agree with the OP on this. You should retire if your passive income is strong enough. Especially if you are working as an employee, you should get retired as soon as possible. You may start your own business and keep yourself busy later on but never ever work for somebody else. It is because if your paycheck is $2k, you are probably giving your boss $2k for the work you do. In other words your employer is getting rich from your hard work. I know most people don’t have much of a choice at the beginning but it is not your destiny to die like a work horse. You can build your own financial empire while wageslaving. (Assuming that you are making more than the minimum wage.) it will take some time but if you make the right moves you’ll be financially secure before your 50’s.

Well said, I actually agree, cause if you're planning to retire business is literally the key. If you own a business, you are the boss and you handle or manage your own time which is really for a retiring person. That's why if you're still working for a company or corporation, it would be better to have a plan to achieve, cause it would literally drain you to act like a robot everyday, working without a purpose like you are a slave. Set a goal, like for 2-5 years with that much retiring money you could build a small business, ready yourself with the risk as you have plan A to plan B. Don't rush and be patient as well, cause it might take time but it will secure you when time comes.

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I don’t agree with the OP on this. You should retire if your passive income is strong enough. Especially if you are working as an employee, you should get retired as soon as possible. You may start your own business and keep yourself busy later on but never ever work for somebody else. It is because if your paycheck is $2k, you are probably giving your boss $2k for the work you do. In other words your employer is getting rich from your hard work. I know most people don’t have much of a choice at the beginning but it is not your destiny to die like a work horse. You can build your own financial empire while wageslaving. (Assuming that you are making more than the minimum wage.) it will take some time but if you make the right moves you’ll be financially secure before your 50’s.

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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.

If fate doesn't favor then man has nothing but ignore it. Every man is mortal and must die. However, if one is diagnosed with a fatal disease before reaching the appropriate age(old) , nothing can be done. Not everyone can retire at the age of 35. It was a joy for him as he got into retirement but everyone has to worry that he has a future. If early retirement comes, then it is natural that his later life will be rough. On that account the mentioned person must have needed to make more assets or if he had kept some money for his emergency rather than putting all his money in the shares then he would not have to sell the shares.

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Quote from: uswa56 on October 01, 2023, 06:22:00 AM

It's not an easy thing, everyone really wants to retire because of course almost everyone doesn't want to be tied down to work and wants to be free to do whatever they like, but again, if everything is constrained by money, even though they have prepared for early retirement, not many people have the courage. take this decision if there is no strong guarantee that your finances after retirement will remain secure or stable.

I agree, it is really really very hard to retire at early age if your company job is your source of income or your retirement fee is good amount but then you are afraid to start your own business or start your own life from now on, it really requires a lot of courage. I know that because it was the struggles of my parents when they start to retire it is hard to adjust and live in the first few months but it is fine after you adjust.

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Quote from: CarnagexD on September 30, 2023, 11:34:20 AM

Quote from: Razmirraz on September 26, 2023, 08:33:04 AM

Early retirement must be based on strong reasons. Those who decide to retire early have various reasons, some are getting bored with the rules at work, there are those who want to manage their own business and there are also those who are lazy about doing the same activities every day. For those who want to manage their own business or want to form a new life to be more independent, early retirement is a good decision.
Many people retire early but don't have a clear reason why they made that decision, ultimately their lives become chaotic due to not having a regular source of income every month.

That’s why early retirement should be planned ahead. If you plan well, early retirement can give you the chance to explore new passions and interests, which might not have been possible if you were still employed. With sufficient money to sustain your lifestyle, you can overcome the challenges that you may encounter and explore new opportunities.

There are people who have the mindset of retiring when they reach 60 years old, and there are others who have the mindset of early retirement because they want to use the money they get from their retirement fee in business, and so on.

And for the others, who took 60 years, what they are chasing is a pension that is big for a month, although in early retirement, my pension is also the same. so that even if they don't have a job anymore, they can still get a monthly pension, something that I saw in my relatives. But there are others who don't seem to have enjoyed the retirement fee they got.

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Even if one is in a position to retire at an early age due to financial success, they may still experience feelings of dissatisfaction, boredom, and loneliness. If they are already sedentary and do not exercise regularly, their body may become diseased within three to four years, and their muscles may become rigid and painful. If they are tired of working and would like to take a short break to spend time with their family, they can do so.

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Nobody wants to live on the street after retiring so that's why we've got to start saving now or invest wisely or else it won't be possible to retire early. What's the point of working all of your life only to live in financial pain during retirement. Working 8-5 doesn't provide enough to save for retirement.

Fate doesn't treat ppl the same there isn't equality for all. Nearly all ppl living in Asia, South America, African & MENA countries aren't receiving same opportunities as ppl living in the west. They're two different worlds.

Quote from: xSkylarx on October 01, 2023, 06:58:54 AM

All of us want to have early retirement. Even right now we want to quit this 8 a.m.–5 p.m. job and retire but the problem is that we are not financially able. If we retire or quit now we go broke and live on the street. That is why you are right that we need to plan it ahead and also make sure your finances are in your favor. But right now there are people who prefer to work because they get bored and have nothing to do and others want to work again as they have no income.

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Quote from: uswa56 on October 01, 2023, 06:22:00 AM

Quote from: CarnagexD on September 30, 2023, 11:34:20 AM

Quote from: Razmirraz on September 26, 2023, 08:33:04 AM

Early retirement must be based on strong reasons. Those who decide to retire early have various reasons, some are getting bored with the rules at work, there are those who want to manage their own business and there are also those who are lazy about doing the same activities every day. For those who want to manage their own business or want to form a new life to be more independent, early retirement is a good decision.
Many people retire early but don't have a clear reason why they made that decision, ultimately their lives become chaotic due to not having a regular source of income every month.

That’s why early retirement should be planned ahead. If you plan well, early retirement can give you the chance to explore new passions and interests, which might not have been possible if you were still employed. With sufficient money to sustain your lifestyle, you can overcome the challenges that you may encounter and explore new opportunities.

It's not an easy thing, everyone really wants to retire because of course almost everyone doesn't want to be tied down to work and wants to be free to do whatever they like, but again, if everything is constrained by money, even though they have prepared for early retirement, not many people have the courage. take this decision if there is no strong guarantee that your finances after retirement will remain secure or stable.

All of us want to have early retirement. Even right now we want to quit this 8 a.m.–5 p.m. job and retire but the problem is that we are not financially able. If we retire or quit now we go broke and live on the street. That is why you are right that we need to plan it ahead and also make sure your finances are in your favor. But right now there are people who prefer to work because they get bored and have nothing to do and others want to work again as they have no income.

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Quote from: uswa56 on October 01, 2023, 06:22:00 AM

It's not an easy thing, everyone really wants to retire because of course almost everyone doesn't want to be tied down to work and wants to be free to do whatever they like, but again, if everything is constrained by money, even though they have prepared for early retirement, not many people have the courage. take this decision if there is no strong guarantee that your finances after retirement will remain secure or stable.

People who want to retire from their jobs are people who have made special preparations regarding their own finances, both in terms of income and expenses. Because if someone retires because they are bored with work and are no longer comfortable with the environmental conditions where they work, they don't have any preparation for their life after retirement. I think that would be quite ridiculous for someone because he would struggle from the start to get a better life, while he still doesn't have the capital to open his own business after retirement.

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Quote from: CarnagexD on September 30, 2023, 11:34:20 AM

Quote from: Razmirraz on September 26, 2023, 08:33:04 AM

Early retirement must be based on strong reasons. Those who decide to retire early have various reasons, some are getting bored with the rules at work, there are those who want to manage their own business and there are also those who are lazy about doing the same activities every day. For those who want to manage their own business or want to form a new life to be more independent, early retirement is a good decision.
Many people retire early but don't have a clear reason why they made that decision, ultimately their lives become chaotic due to not having a regular source of income every month.

That’s why early retirement should be planned ahead. If you plan well, early retirement can give you the chance to explore new passions and interests, which might not have been possible if you were still employed. With sufficient money to sustain your lifestyle, you can overcome the challenges that you may encounter and explore new opportunities.

It's not an easy thing, everyone really wants to retire because of course almost everyone doesn't want to be tied down to work and wants to be free to do whatever they like, but again, if everything is constrained by money, even though they have prepared for early retirement, not many people have the courage. take this decision if there is no strong guarantee that your finances after retirement will remain secure or stable.

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What's your best retirement age to be in good shape. If we could retire today we'd all retire but life isn't fair. Workers living in the west dream different to workers living in Africa or MENA. Fate doesn't provide options equally some live day to day getting by so dreaming about retirement's all they've got.

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Quote from: abel1337 on September 30, 2023, 02:27:19 PM

My plan is to retire early. Cryptocurrency is I think my gateway to that early retirement as I am trying my best to accumulate as much crypto as possible. If I profit enough, I guess I'll make a business out of it that can produce income to me without a burden job like having multiple rentals or flipping things in the market. It suck to work on a job but it is currently the one that supply me money to buy crypto. I don't plan to live a glamorous life after retirement but I want to have money and asset that can make me survive and live longer without the stress I'm currently having.

Your goal is simple but it looks like it will be fun if it is achieved. And I like your intention not to live too glamorously when you succeed in achieving your goal of retiring at an early age. Basically, early retirement can give us more relaxing time and live more comfortably. And it does require quite a lot of money which we have prepared for this purpose. And we also have to have passive income to make us more comfortable and not worry about not having enough money when our savings run low. But apart from retiring early, I think it would be even better if we also achieved financial freedom.

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That planning won't be exclusive to you we're thinking the same. I'm stacking sats I don't want to invest what I'm making from sig campaigns. If I get web dev jobs I'l be paid in crypto so I'll save it. Like you I don't want burden on my old age so money's needed to make me live better when I'm old.

I don't have money to investment so can't say if I'd investment for retirement. It's living with guilt if investments go south that's making me cautious so I'll keeping stacking sats unless I'm sure my investments bringing returns.

Quote from: abel1337 on September 30, 2023, 02:27:19 PM

My plan is to retire early. Cryptocurrency is I think my gateway to that early retirement as I am trying my best to accumulate as much crypto as possible. If I profit enough, I guess I'll make a business out of it that can produce income to me without a burden job like having multiple rentals or flipping things in the market. It suck to work on a job but it is currently the one that supply me money to buy crypto. I don't plan to live a glamorous life after retirement but I want to have money and asset that can make me survive and live longer without the stress I'm currently having.

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My plan is to retire early. Cryptocurrency is I think my gateway to that early retirement as I am trying my best to accumulate as much crypto as possible. If I profit enough, I guess I'll make a business out of it that can produce income to me without a burden job like having multiple rentals or flipping things in the market. It suck to work on a job but it is currently the one that supply me money to buy crypto. I don't plan to live a glamorous life after retirement but I want to have money and asset that can make me survive and live longer without the stress I'm currently having.

Topic: Early Retirement [Pros and Cons] - page 6. (Read 1632 times)