Topic: Is it still possible to retire early? - page 6. (Read 1664 times)

One can retire early if he starts a business before retirement which can give him income on a monthly basis and he will not work to get his salary. Most of the people work hard and save some amount with which he can build some house for rents so if he retires early then there will be no issue for him in terms of getting salary.

Those will surely be at risk who does not have any concept of saving and investment during his job because most of the time people think that their salaries are enough so they have no need to save some amount and make investment but I think saving and investment is crucial because in life any type of situation can arise in which your investment will help you if you have no salary.

Of course we can make ourselves happy in life and even retire early even with the way the world seems to be manipulative, it's our choice to make the earth a heaven for us. all we can do is just to put our time in planning and executing our plans on how we can retire early.

Although this days I haven't seen an elderly person that retired early all I see is people working too hard to make a living yet retirement only meet them and not them retire at will as the economy in some countries has put them in this shoes but we can make ours different.

This is the reality going on now in my country. If you carry out a research survey among the working class regarding this, majority of them will definitely opt for early retirement if they have alternatives. Considering the present economic turmoil, early retirement is not supposed to be a thing of choice, it's very necessary. Working for government or private company is now a total slavery but then sitting idle is not an option after retiring at early stage. The measures you list out in your post can not realistic, not because the payment are too poor but inflation has caught up with us. Although, the payment is not quite good enough but it was a decent figure prior to inflation hike thereby making budget, investment and saving become almost impossible.

Considering alternative source of income? This option will hardly work for people working in private sectors. At first, I thought it was going to be possible to engage in several other things after closing from work but I barely have time for myself talk more of thinking about alternative income. Resume to work by 7am and close by 4pm with lots of incomplete logs that you'll take home and finish before the following day. All these result to shortage of sleep and overworking just to please someone in order not to lose your job. I don't think anyone will be interested to reject the offer of retiring early if they have plan on ground to sustain themselves after retirement.

When someone is in retirement, of course they no longer think about the work they have to do because they already have a lot of money and they will be free to do whatever they want with the money they have, but for some people who don't have a lot of money, of course they have to continue do their work and prepare themselves so they can enjoy their retirement and will also be able to enjoy their lives from the results of the work they have done.

If you live in a country where it is difficult to get a job, then taking early retirement is not the right choice. Especially if you do not have a plan after you retire and it will affect the life you live. Someone who dares to take early retirement has been equipped with the ability to make money in other ways because making decisions in a hurry will not have a good impact. Saving and investing cannot be done if someone does not have money and when taking early retirement steps. Have we collected money to run an investment or business?

Before the decision is taken, it is better to consider these two things and whether our ability to make money in investment or business has good prospects. If you do not take the decision, it will only complicate the problem and our lives will be much worse when there is no stability in getting money regularly and stably.

In my opinion, only a few do not want to retire early, the rest most people want to retire as soon as possible. Who doesn't want to have a lot of money, who doesn't want to live without worries and spend more time doing the things they like? But the problem is that we are still facing many difficulties with the current economic situation, our income is not even enough to cover our needs, savings...so no one dares to think about retiring early.

Not just OP, many people have planned their own retirement and planning does not necessarily mean they will be able to retire as early as they think. It all depends on each person's economic conditions, for example when OP is 50 years old and his children don't even have a job or family, he still doesn't have enough money to live the rest of his life. How will he retire?

The future is always a mystery, it's good for us to plan but that doesn't mean things will always turn out as we want. Planning your life is not so difficult, but completing it is a huge challenge.

Of course, it is possible to retire early if you have made the proper preparation. However, people think retiring means they won't be doing anything at all. Yes, you won't be working but you can manage your business and investment. Or you choose to sit and employ someone to do that while you authorize the person from the comfort of your home. Things are made digital now, you can be watching your business grow and investment or company from the comfort of your home.

Early retirement is a very good thing for a salary earner to do but when doing it, truly, you need a very strong mindset, discipline, endurance, patience and dedication because you will go through a lot during the process. You will need to save part of your income no matter what. not only saving, but also try to invest it by settling down a business that you will go back to after the retirement. You can not have a lot of the things that you wish to have during the process. But just make sure you set up a fix goal to be accomplished.
Early retirement is also very good to your health, because, the more time you spend in the service, the older you become and the weaker your body systems become. Early retirement enables you to look after your family and mingle with your friends.
It gives you more time for yourself and you have time to exercise in the morning and evening. Which will boost your immune system.

It sincerely depends on the individual and when they wish to retire because retirement outside the government approved time to retire is a choice because some people forge their age and also lobby in most parastatals just to continue working till 65 or more.retiring early for some people is very bad because most people see their work as a means of exercise waking up early and going out of the house to meet different people. While some people also choose to retire early to have enough time for their family and their private business and also to enjoy their retirement benefits before death. Note that most people find it very difficult to secure jobs after school and probably must have not saved a lot to carry them to old age, however this sets of individuals will find it very difficult and hard to retire because they rely on their salary  to sustain their families and many other contingency expenses.

Early retirement suggests financial stability until time stretches out. When you retire early, you can enjoy your life more. You do not need to be thinking about certain bills anymore and you can do exactly what you have always wanted to do. Most people travel after retiring.

Wouldn’t you want to stop working just to enjoy life? If I had the chance to live my life without having to work and still be financially independent would be a dream come true.

It's hard to do it in developing countries but you know your status whether you're able to do it or not.

The advantage of people retiring early living in developed countries are the massive benefits that they're getting from their government. It is normal for them to have free healthcare, education for their kids and other benefits that they'll get plus the savings and investments that they have.

So with the combination of all of it, they're able to do it without having to worry about the future of themselves and as well as their kids.

As you said there are some people who want to retire early but they can't because the income or money they have accumulated may not be enough for them to live peacefully with all their needs.

Indirectly it means that it can be if the money we have is more than what we can possibly spend for the rest of our lives, some people who have a large income and accumulated so that they can stop working and prefer early retirement for a freer life, you can explore freely without any time that requires you to go to work, no boss who scolds you and others.

Retirement is a personal decision and it depends on a person whether he wants to retire early or continue his job as there are some people who want to retire early but due to their increased expenses they cannot do this and there are some people who have lots of money so they don't need to continue their job therefore they retire early.

It is a personal decision and we don't know about the expenses and other issues of an individual so we cannot say something but I will suggest that early retirement will not give you anything therefore try to complete the age of your job so you will be independent and will complete all your expenses with your own salary.

Yeah it’s still possible if you are lucky.

Here in Canada, depending on the province many are retiring early because they are selling their house and moving to a difference province and adding the +$1 Million to their retirement and quitting work early.

Along with the massive gains that everyone got on their RRSP from the bullish stock market in the past decade, many of these boomers are very comfortable and just retiring.

Some people would really be having this kind of thinking about having that kind of early retirement on which they would really thriving out their best for them to accumulate more money or saving it up until
they would be able to find themselves that they could really be able to stand still or survive. Due to lack of action and proper planning and integration of such savings then this is where a certain individual
would really be having a never ending kind having a job and since they are really that still get stucked into that day to day living expenses. To those people who had been thinking about those
early retirement while they are still young are the ones who arent that contented on the current condition that they are in.

Even myself wont really be tending to be that like an employee forever on which it would really be just that right that you should really be doing additional steps that would really be proving out
that you are really that able to achieve such thing. It wont really be that so easy but doesnt mean that it would really be that impossible to be done. It is really just that
someone isnt really that serious on trying out to achieve on something and really that contented on the condition that they are in.

Yes, possible with investments simply because it will generate income for you. It also comes in many forms and only depends on what would be more profitable in your end. Well, a good salary will help you with savings but as we all knows savings alone won't last forever. It should be turned to something that could generate money for you if you're after early retirement. Bank savings in most instances could give you interest for a long run however, bankruptcy will also be the threat you won't hope to happen. Depends as well on how you would consume or spend money once you chose to retire 'coz it would be a factor determining how long your money would last or sustain for you. However, I guess this generation won't be settling early given how passionate they are with their professions.

Early retirement is a personal decision and this decision shouldn't be questioned, a person may decide to retire when he is satisfied with his level of achievement in a short while and deem it necessary to go and get a rest in his home to continue sustaining himself with his savings or earnings from the government, to be realistic this can only happen in the developed nation where things are been done rightly as for most African country and some other underdeveloped countries it is almost impossible for this to happen because everyone is eager to get a job so you cant just retire early when you have numerous responsibilities that needs financial attention unless you have a better Job if not you may end up being frustrated, as a matter of clarity this may not exist in africa because of the nature of things their, in the underdeveloped countries workers wish to work until the age to the extent of not being able to walk again because of unorganised economic system of government.

Retiring at young age is actually a good thing because if things work out well you will enjoy the fruit of your labour, I really get what you are saying but they are just few of them and again it depends of on the career work, most of the people I noticed that with are educationalist, people making research don't retire at early age most of them died in that path. Most of this educationalist doesn't have money and they don't care because they love what they do, some even turn down offers that will make them rich but due to the passion they have for knowledge they don't take it.

As am concern, if I make huge amount of money at my early age I plan to retire early because live is very short, I want to enjoy myself first before many will start fighting for what they don't work for.

Sometimes people get injured in accidents and they are forced to retire from their jobs, while there are many who deliberately decide to retire early. But for those who want to retire early on their own, I personally guess the two problems you are most likely to face. Retiring early means giving up your regular paycheck, which will suddenly stop your financial stability. You can't continue to save for retirement or afford the luxuries you enjoyed while working. Another most important thing is that as you get older, the cost of health care will increase which will become expensive for you. So I think you should continue working until you save enough.

Yes  this categories of people as alpha mentioned
By 0t3p0t may hardly retired at young age but there is one thing I would debunked is the aspect saying they leave a lavish lifestyle, I think that is wrong because even if they do not all in this categories leave such lifestyle, take instance of people working in mostly if the third world countries where the economy and inflation usually hit hard all time even their so called salary can't even give them two square meal per day not to talk if others unforseen circumstances that face humans life how will you conclude that such a salary earner is lavishing example 30,000 as salary precisely in Nigeria what kind of lavish lifestyle will you classified this set of people earning this as salary rather than seen them as people who are into deep suffering as the salary can't even feed one person for a month no matter how you manage it, as there is no plate if food you can eat 500 naira in the morning and also eat same in the evening to afford two square meal for 30 days , even if you want to cook your self it will not still work and your transportation is not inclusive.

The truth is the poor salary hinder such desire to retire at young age as some barely survive even with the salary because it's hard to feed with it and make enough saving or investment that will sustain them after retiring from the current job .