Is it ideal to retire early?

[King bell]

Although, most people believe it is ideal for one to retire early There is no one answer to this question as everyone's retirement goals and needs are different. While retiring early may be ideal for some people, others may prefer to work longer in order to maintain their standard of living. I would like to point out some pros and con's attached to early retirement. Some pros of early retirement are that you can have more time to enjoy your hobbies, travel, and spend time with your loved ones. Early retirement may also allow you to pursue other interests or start a new business.

Some cons of early retirement are that you may have to reduce your standard of living and may no longer receive employer-provided benefits like health insurance. You may also have to find other ways to generate income, which can be difficult if you are no longer working.

 

[Mika]

I don't have any desire to retire early, in fact, I don't think people should retire early. Let's say you retire at the age of 40? What next? How are you going to spend your life? Having said that you can retire from your active income activities (a job for instance), and continue to focus on your passive income source. Let's say you work until 40 years of age and build a business or some investment portfolio, you then spend the rest of your life managing your business or investment portfolio. I would consider retiring from my active income activity only when I have enough positive income sources to live comfortably. Sadly, for a lot of us, that is not possible because of limited income and the inability to build passive income sources. We are so engaged with our job that we don't have enough time to build our secondary income source.