Topic: Early Retirement [Pros and Cons] - page 9. (Read 1632 times)

If there are employees who want to retire early, it means they already have good savings accumulated, or their plan is to build a business with their retirement pay. That's good if they can stick to their planned plans. Because if not, they might say to themselves in the end "I wish I hadn't retired early".

Because I have seen a lot of people who retired early, they didn't make their plans, or others who built a business didn't grow or manage the business they built properly, and the rest of the retirement pay they received just went to luxury and unnecessary things that did not produce income for them.

I don’t think anybody truly retires young, they just stop having to work for people for money. Most of the “retired” people I know have replaced their jobs with other things. Sometimes relationships with people, sometimes hobbies, sometimes with a new business they run themselves for fun. I think retirement isn’t exactly a black or white thing.

maybe if your cousin invests more and has insurance maybe he can still continue to retire, everything has pros and cons, But im still prefer early retirement.

If you want to early retirement then you should have proper things like passive income one of the example is investing in dividend stock which can get dividend each quarter or every year. If you decide retire without passive income that will be bad.
The other case while you have passive income create new business it could be social media business like nowadays or sell something

early freedom from compulsory work would be nice to have at 30 years old. Share the time with a nice lover. Work a bit here and there. short hours top pay so time is not wasted on the job .  You spend it with your lover. visit the world . eat at nice places. see other cultures.

That would be pretty nice gig to have. a unique high paying skill.

Well, I think that before one chooses to personally retire, they should have things well planned out as to what they can do next and also make a well-examined road map as to what their next plan is. Some people just don't give in to their deep thoughts as to what next step they must take before they retire, and that's why they may end up returning to another job after they have retired.

If one chooses to retire because they want to be the boss of their own as entrepreneurs, they can still be working as employees and still working things out in their career until they are certain that even after they retire, they are able to handle anything that comes their way, then they can retire.

You're trying to say that you will still working when you get old? I think there's a right age for you to retire and start to enjoy your retirement. I know some of them is still have to work as what you have said they wanted to gain more of those benefits they get from working but the problem is are you still capable of doing those works. That's why when you are still young you have to think twice about saving your money make a used of it start from a small type of business or invest so that while you're working you have an earnings also from your business/investment and by the time you're going to retired you can focus on managing to it.

To me retiring isn't necessarily quitting the employment life in exchange for a laidback one where you can just frolic in the beach with friends and families until you die. More often than not it will still involve you having to find a way of earning money later down the line. The only difference being that instead of doing so because you're literally 2 paychecks away from starving to death, you do this because you want to do something with your spare time.

Working when done from a newfound perspective is a massive breath of fresh air. It's like you're doing it not just for the hell of it but also because it's therapeutic, much like what people mean when they say "I wanna do what I love." Early retirement is going to pretty much be like that. You have all the time in the world to do whatever you want, and you're probably still going to spend it working, this time not because you have to, but because you want to.

Isn't it the case that when we want to satisfy our hobbies we have to have enough money? Well, unless you are a wealthy person, it is not a problem. But it's good if you decide to retire early for the sake of your hobby, then the thing you have to do is to start a promising new business that can give you a profit every month. then after that mandate the company to someone you trust who can indeed manage the business that you have started from the beginning, but before you mandate it to someone else then you have to make sure that the existing business is running smoothly. So that you are not too worried if you entrust the company to someone else for your hobby.
And as for other things you can do is to invest or plant shares, so that you still have benefits even though you have retired from your job.

I think "Early Retirement" is a very subjective matter for all of us, while most of people think of early retirement at 30 some may achieve it at 40 and others at 50 it is still depends on how you are managing yourself, your work and the value you have financially. Early retirement is 90% talking about the money or asset you possess, and the 10% is contentment in life. For poor people  they might subject early retirement at 50, middle class at 40 and above middle class at 30ish. But for me Early retirement is just about things that can sustain you, probably a business that generates you enough to live day to day. If you are working on corporate, or office you might find frequent vacation an escape and do not really want to retire early, only if you love your job.

Yeah, just live your life and do not let things let you stop even a general mindset to achieve things. Don't get bored!

I know a person who is filthy rich. The guy lives in Monte Carlo and he retired early. Well what he said is that people there mostly don't work but attend different clubs instead. Like a vintage car club, speed boat club, horse racing club etc... so the rich guys who don't have to work just meet there and spend time on their hobbies, having fun etc.

If that's the reason... it's quite logical and acceptable. Because I also understand how long we will be at the mercy of other people and become corporate slaves who continue to work to enrich other people while the salary we receive is only enough to meet our needs. So deciding to retire early and start an independent business is a good thing to do, because no matter how small the business we have, we are still the owner and no matter how high the position we hold in a company, our status remains that of an employee. However, before we choose to retire early, this must be considered carefully. At least you have enough capital and savings when you decide to retire early so that with this we can at least guarantee our lives for the next few years and have enough capital to be able to start a business.

Early retirement isn't the right term. It's much better to aim for fundamental independence, which means you can do whatever you want. If you want to work, you can. If you want to travel, you can. But if you don't want to do something, you don't have to. That's the kind of freedom I wouldn't mind having.

I have a hunch that by "retirement" a lot of people mean "sitting on a bench and doing nothing". Hence the controversial issues
For me, the concept of early retirement is not "collect money and sit on the couch watching TV". It is a period when you are already sure of your future income, and you can reduce your productive activity, spend MORE time on leisure and family, or your hobbies, and LESS time actively developing your business. But this does not mean a completely passive mode of life. I generally believe that "until the last breath" a person should be active - both physically and mentally!

According to someones preference because there are ones who dont really have no choice even if they wanted to retire early because of some rules which they wont really be having no choice but to reach up that

specific age required or years of service before they would really be able to optionally retired. We do know that there are really indeed pros and cons and its up to you on what would really be your plans
ahead in regarding about your retirement. For me its really that better to retire while you are still young and able to still wander around and could go whenever you do want since you arent that still old
or having no health issues unlike when you do retire but you are already old then it is really that something a problem or hindrance due to body condition.

Also you could really still be able to make out some business and ran for yourself without being that too tired because you are still that capable in towards that body
movement or condition. I dont know on what are others views about retiring early or not or they do just simply stick out because they do really love their work.

I disagree with you, there are some cases wherein retiring early can be a good choice for an individual. As many of the other replies have stated, we all have different situations that affect our decisions, in this case, some of us choose to retire early and some don't, for those who choose to retire early most of their reasons range from health concerns while others retire early because they are confident that they were able to get the financial stability they need and have other means to get income such as businesses and investments. Essentially, we cannot just simply state that retiring early is not a good decision in general as not all of us have the same situation and thus our decisions will provide different consequences and outcomes. Although I do not agree with your stated examples, it is still best to remember that there is another side of the coin you fail to consider.

Retiring earlier is not a good decision at all. People think that retiring early will be beneficial for them but it's totally different. Let's say a person who started working in a company at the age of 20 years. He spent 15 years in that company and now he decided to be retired. Its age is now 35 years, For the last 15 years he busy itself in a work from 9 PM to 9 AM. When he retires his routine will be disturbed if he works just say 4 hours in day, He will feel alone because he worked about 12 hours. If this routine goes on he will be sick and maybe he will die soon.

In another case, if he stops working just because he earns a lot of money then a time comes when he needs money, and for that maybe he starts working again on a lower salary so besides taking retirement earlier just take a long break, refresh your self and then come to your work again.

So in both cases taking retirement earlier is not good for your health as well as for your finances so do not take retirement earlier but if you have genuine reason then look after your retirement situation and make a plan for it. 

Chinese individuals often find it challenging to experience contentment, even when their assets are more than sufficient to sustain their entire family for generations to come. According to the latest reports, Zhang Yiming possesses a wealth of $39 billion, with a significant portion attributed to his founding of TikTok.

However, I am not aware that this individual has opted for early retirement, despite being fully capable of doing so. As of now, it appears that he continues to contribute to his former company, ByteDance. Can you provide concrete information about the retirement of TikTok's founder from a reputable source?

Retiring early has never been better with the evolution of technologies and investments.

One of the true proof of the above mentioned is that of tiktok's founder. Retiring in your 30s makes it a whole lot of fun but you have to set such goals running from an early stage. It's better for people who've got good guardians.

Retiring early for me isn't mean retiring, and do nothing at all. What early retirement for me means is that, retiring for your long time job, then finding another job, or work that is less time consuming, or at least you will work a few hours on it. It means you have the freedom to work at your own pace, at your own will. No one will stop you, no one will force you to work. You can choose when to work, and when not too.

TBH, a few years ago, this is one of my goal. Retiring at early 40's, then live the life that I wanted without thinking of anything that makes me stress, but as years go by, I'm starting to realize that it will be very boring if I will do nothing at my retirement. I mean I want to be efficient at all times. I want to make money, but spending little time doing it. I want to do the things that I love to do. Retiring at your job means stopping from working, then find another work where you will be loving doing it. I want my mom to retire since she's in her age where she can just retire, but whenever I say it to hear, what she always says to me is that "After I retire, what will I do?", and because of that, I realized that it really is boring.

Retiring isn't mean not working for the rest of your lives because that would be very boring especially for those old people who loves challenges, and adventures.

I would say retiring early and not working are different things and people confuse those two. Just because you retire, doesn't mean you have to sit at home all day watching soap opera, you can still retire early if you can, but then keep on doing something fun, could be a work you wanted to try, could be something else. At that point we are talking about something that would make sense because you would be doing something that will benefit you and profit you as well.

I personally like my current job, but if I didn't had this job and had one that I hated, then I would have probably just work to get enough money to stop and quit that job I hate and instead do the job I am doing right now, that would be a lot better.