Is It Worth It to Have Early Retirement?

@yoalldudes I am on a break from my regular job for some time due to my health. I hope I am back to work by 2020. I would like to work till 65 and then slow down. But my husband is planning to retire in 50s and get engaged in some of his passion which will give him more time and little money.

Am I right that you are with retiring at 65?

@arunima25 What you have now is what they call a mini-retirement. You must really love your work or employer to wish to work until 65.

Thanks for sharing. I believe you think it is worth it.

@nawala123 Financial planning is one of the major considerations.

@yoalldudes i have discussed it seriously with my wife. but it takes much money to make it come true. at least we must have a good busienss

@yoalldudes not only that it means you’re still at the age where you still will need to gind ways and means to afford your lifestyle. You have to think for your health needs that’s why its good to retire early when you have other sources of income you can rely on.

For sure retiring early means less money. But the other factors discourages me like getting bored, the rest are at work or school so I have no one to share my free time with.

@rsa101 Actually, now I am inspired to work as long as I can. As I age, maybe more flexible time or even passive income. We can build sources of passive income now.

@yoalldudes I am planning when I retire to teach English online.

Yes staying at home day after day seems so boring.

@SIMPLYD I hope you like it.

@yoalldudes Yeah that is correct, we need to find a business who can make us live without doing much.

@tech40 I am urging my family about this but they dont seem to be interested.

I should start working on something like that on the side.

@yoalldudes often times that is not how it works out. if you stop going for work. routine collapses and you tend to get lazy and avoid things. that's where the mindset role comes in. without hard work and routine or some goal. we just don't move much.

But wouldnt a lot of free time means a lot of time to workout, jog, swim, bike, do resistance training?

@skysnap A flexible work time and location independence might be good.

@dodo19 You are right and the fun working to find out and understand these so called other things, because they may be your path to financial life.

Yes you are right.

@yoalldudes I would say it is and I loved one job but not the others that I had to do.

Not having to go to work you don't like is a big relief, isn't it?

@lovinangelsinstead21 Good thing you have one job you love.

@yoalldudes which would mean finding new friends

The problem is that the people are all busy studying or working so one wont have anyone to do things with.

@hereandthere Hmm finding new friends with same interests right? Those who also opted for early retirement

Am I right that the retirement age in your State is 65?

Are you happy with your decision?

@valmnz That is what I always say. But it is possible only if one has planned for expenses during the retirement life. It can either be with reducing your expenses or with increasing your earning or both.

That is great for you. Congratulations!

@yoalldudes When you say that you are in 8 to 5 and I assume that it is for 6 days you are already in 54 hour schedule. Add to it 2 hour of commuting every day and taking 30 minutes to get ready in morning and 30 minutes to settle down in evening after coming back it is additional 3 hours every day. This adds 18 hours and you are actually on 72 hours schedule. In other words if you are earning say X per hour, your actual earning is (54/72) x X per hour - say Y. Again remove all that you spend to be in work time money speny for commuting, office attire, lunches etc from Y and then you get Z. If you enjoy your current work, nothing like it. But if you are not but able to find a better job that you life and it gives you more than Z, try it. It will start your journey towards financial freedom as you will have more time to do other things and at the same time will have more surplus to save (not to splurge)

@ashuli That is true what you say. Thank you. I'm working on towards that dream job/life.

Thank you for sharing. Yes of course, retirement doing nothing would be boring. But doing what you enjoy doing, with flexible hours and location independence and not working just for money would be awesome. I havent found that yet as I am in a 8-5 day job.

Ha ha! Spot on.

It's the bare truth

I'm happy your early retirement have proved worthwhile for you.

Build new friendships, right?

@yoalldudes Yes.