Early retirement pros and cons

I suppose the difference, in my mind, at least, is that I retired from a career. Now I have a job. To add something else to this is that going forward you find something to do with your time. Either you volunteer or you receive pay. If you receive pay then it is a job. Doesn't mean you didn't retire just means that you continue to work.

The big word here is RETIREMENT. You never retire from working. Okay, let me take that back. You take your pension, move to a retirenment location and play sports or improve the garden etc. But you don't work..............................That's retirement.
Get a wage after that.............................. then you are still working. Did you retire??
 
retiredtraveler said:
"..you just don't go from a 40 hour work week to complete freedom to do what you want..".
I did.
Retired at 57, 19 years ago. Wife and I could finally take extended trips and be gone for weeks. We also live on a few acres with flower garden, veggie gardens, small orchard, etc. Never had time to take care of any of it properly. Finally had time and energy to do all those projects that were put off to maintain the house and out building. I did go to work, part time, eventually at a local home improvement store to get the discounts on building materials. Wife does a lot of volunteer work --- I do far less than she but get something done for others.
Anyway, I fully realize we are all in different positions as far as income, health, mobility, living conditions, family, social life, etc. I know it is not easy for some. It was easy for me.
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so you want back to work and collected a wage. Retirement is a myth
 
rbtvgo said:
The big word here is RETIREMENT. You never retire from working. Okay, let me take that back. You take your pension, move to a retirenment location and play sports or improve the garden etc. But you don't work..............................That's retirement.
Get a wage after that.............................. then you are still working. Did you retire??
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to me , yes.

if you retire, don't work for a period of time and then go back to work, you retired temporarily.

My husband did that - retired. didnt work for a year and then went back to work
another year later he re-retired.
 
It is about the money most assuredly. But it is also about your usefulness in a world that has changed. Who am I? What do I do now? I have years left, I have my health......................what do I do? How do I go on?????
 
Knight said:
Not everyone enjoys retiring. Not everyone needs to do something to fill their days. I think those like me enjoying retirement understand retirement isn't for everyone.

Walking away & starting new was simple. Wasn't about cheaper it was about how we wanted to enjoy our remaining years. And we are! Family is close & making new friends over the last 31 years was/is no different than life was prior to retiring.
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good for you.I am envious
 
rbtvgo said:
good for you.I am envious
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No need for envy. I hope you are living the life you chose.

I think you posted.
"Not everyone enjoys retiring. "

I consider my working years to begin after I left the U S Navy at age 24. Or at least the years that paying into Soc. Sec. & federal taxes began to count towards the years in retirement. What amazes me most is I retired at age 54. That is 30 years working for wages. Now with 31 years in retirement with more income coming in than during my highest earning years I feel really fortunate.

Not rich in money compared to some, but feel rich in family & in reasonably good health.

If you have that.

"No need for envy. You are living the life you chose"
 
Knight said:
No need for envy. I hope you are living the life you chose.

I think you posted.
"Not everyone enjoys retiring. "

I consider my working years to begin after I left the U S Navy at age 24. Or at least the years that paying into Soc. Sec. & federal taxes began to count towards the years in retirement. What amazes me most is I retired at age 54. That is 30 years working for wages. Now with 31 years in retirement with more income coming in than during my highest earning years I feel really fortunate.

Not rich in money compared to some, but feel rich in family & in reasonably good health.

If you have that.

"No need for envy. You are living the life you chose"
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I am pretty much in the same situation enough, but not enough if you get what I am saying. Besides that ,it is what to do with my remaining years. I didn't have big goals. Just worked at a job I loved and the years flew by. Then I was here. Sometimes i feel lost and then sometimes I look at the Lords blessing and realize how fortunate I am.
 
I want to be 100% retired :ROFLMAO: DH does not. As long as he does not, I really can't - unless some health issue pops up.

So semi-retired I'll stay for awhile longer. We gave up on the idea of moving to Arizona! :)
 
retirement beckons heh but it's sometimes not as sweet as it appears?? - I now wish I had continued working ; I was well qualified and there were always shortages in my field - I became bored in retirement and got sucked into it all. think it through carefully and talk to many colleagues!!
 
stevenSC said:
My first post here. I have been contemplating retirement for the last year. It's scary when all you have done is work your whole life. I am currently 59.5 so I can start to withdraw from my IRA and 401k. I am fortunate to have a hefty savings built up and very little overhead. All in my bills each month add up to under $2k, that's groceries, utilities, phone, insurance, etc. I don't plan on drawing SS until I am 70.
My biggest fear isn't the money, although I do worry about drawing from that nest egg without ever putting any back, but it is more around just missing work. So I am reaching out to those of you that have retired early. Do you regret leaving early or do you wish you would have done it sooner?
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This is a reasonable question to ask and I'll be talking from my experience. To me, retiring early isn't the main issues but what's in to do after retirement?

saving up money after retirement and withdrawing it little by little to take care of bills or other necessary things is the mistake any retiree would do. After my retirement before the covid, I was contemplating what I could do next then came the covid which leaves everyone idle and indoors.

But, then I was able to think what I can do with my savings. I started with a 2 bedroom and 1 bathroom for Internships student in the providence area and this opens my eye to vacation rentals in the new shoreham and Newport area respectively.

I'd say "we have to begin to know where we are going". Now, I manage and own several properties in the RI, NH and CT areas. I do not list this properties on vrbo or airbnb i managed it myself and this has helped my retirements great and peaceful. Think of what you can do by yourself and invest in it instead of saving up the money. I wish i would have retired early.
 
Noticed this is yet another revived older retirement thread with members relating their personal experiences. Generally, a wide range of situation responses from others that usually don't much apply to those OP asking. Many seniors unprepared to occupy their time away from whatever work world and career, after concentrating decades storing up money they expected would solve what to do once that arrives. And of course, many are unfortunately then rather boringly limited in what is possible due to physical mobility health limitations and lack of experience doing much more than work or usual weekend tv watching and weekly domestic chores.

Others entering retirement fare much worse with life ending or very disabling health issues. I would not even be alive at this point at age 77 were it not for modern medical science. So have lucked out on that. The main advice I have for any younger folks reading this is to keep active, fit, eat healthy, and have hobbies/pursuits through the middle decades of one's life so when one reaches senior ages, one can still be mobile, active, with enjoyment and fun. Use It or Lose It!
 
Heather33 said:
This is a reasonable question to ask and I'll be talking from my experience. To me, retiring early isn't the main issues but what's in to do after retirement?

saving up money after retirement and withdrawing it little by little to take care of bills or other necessary things is the mistake any retiree would do. After my retirement before the covid, I was contemplating what I could do next then came the covid which leaves everyone idle and indoors.

But, then I was able to think what I can do with my savings. I started with a 2 bedroom and 1 bathroom for Internships student in the providence area and this opens my eye to vacation rentals in the new shoreham and Newport area respectively.

I'd say "we have to begin to know where we are going". Now, I manage and own several properties in the RI, NH and CT areas. I do not list this properties on vrbo or airbnb i managed it myself and this has helped my retirements great and peaceful. Think of what you can do by yourself and invest in it instead of saving up the money. I wish i would have retired early.
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The problem with questions like this is that they are hard to answer. We decide to retire, because we are tired, exhausted and just plain flat hit the end of our rope.
So we pull the plug. Set up the pension or payout. Take a deep breath. Sleep late for a few weeks, flap our wings, so to speak, and then say to ourselves, "what do I want to do?"......................................................Oh SH_T!...............................I don't know.
Some are fortunate in knowing what they want and where they want to go. But a lot of us just hit the brick wall of realization that we never considered after we retired.
I am one of those unfortunates who got snagged after the decisions were made.
So I am still working as a contractor which I am quite happy at and own a small gift store which my wife and I run.
Am I content?.............Yes.
Is it what I wanted? no.
But I am still able to shovel snow which I would rather not do. Take buddy for his walks and live my life with no regrets. At 77 I think I am beating the odds.
Hopefully my words will help.
 
rbtvgo said:
The problem with questions like this is that they are hard to answer. We decide to retire, because we are tired, exhausted and just plain flat hit the end of our rope.
So we pull the plug. Set up the pension or payout. Take a deep breath. Sleep late for a few weeks, flap our wings, so to speak, and then say to ourselves, "what do I want to do?"......................................................Oh SH_T!...............................I don't know.
Some are fortunate in knowing what they want and where they want to go. But a lot of us just hit the brick wall of realization that we never considered after we retired.
I am one of those unfortunates who got snagged after the decisions were made.
So I am still working as a contractor which I am quite happy at and own a small gift store which my wife and I run.
Am I content?.............Yes.
Is it what I wanted? no.
But I am still able to shovel snow which I would rather not do. Take buddy for his walks and live my life with no regrets. At 77 I think I am beating the odds.
Hopefully my words will help.
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In life, things happen. You are not unfortunate but life happened. Brace yourself and take that as fate. Since you're contended that's all we need to live. You've got a work and a wife besides you that's sweet. Age is just a number; in as much as you're still getting your hands on something and you're happy, that's all we need in life.

Some of us has no partner or who to plan life with but the materialistic life is there and when we are alone we reflect and call ourselves back and that's when the reality struck. I know people who planned for their retirement but just didnt go as planned and some were able to achieve it. Things just happen and life goes on. peace and love to you and yours :love::love::love:
 
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