What is the best age to retire? What are the important considerations that we need to keep in mind

[Lon]

It's all a matter of planning and disipline. I planned to retire at 55 and did. I had a fantastic retirement and now at age 83 have sufficient resources to have a comfortable life and not be a financial burden to anyone.

 

[Bullie76]

A pension is a must. Those who do not have one have a real problem.

Lot's of people have retired w/o a pension. Certainly a cola pension is nice, but not necessary if one has invested wisely and lived on a reasonable budget during their working days. I retired at 52 without a pension. Now living on SS and investment income.

 

[Knight]

What is the best age to retire?


It's when you feel comfortable in your ability to walk away from a steady pay check, won't miss the social interaction of a work place, & understand that as you age your plans/needs/wants change


What are the important considerations that we need to keep in mind


Good health. Because finances and ability to enjoy the freedom of doing whatever you have in mind to do when retired will be impacted.


After health. As early in life as possible financial planning a must. What worked for us was to plan as though we wouldn't get soc. sec. or medicare. Because we planned that way our soc. sec. started at age 62 for both of us has been used to invest. I retired 23 years ago age 54 my wife quit work in her 40's after getting enough quarters in to qualify for soc. sec. & medicare.

 

[AZ Jim]

Every situation is different therefore so is every solution.

 

[Aputernut17]

Most important is figure out if you will have enough money to live a comfortable life or at least the same life you have now, into your 80's since the average life span is longer then your parents no doubt?

 

[Camper6]

You can accumulate money but you can't accumulate time.

For some people work is fun if you love what you are doing.