Want to retire early? Rethink

raaman

Valued Contributor
Some people think early retirement to mean leaving the job at an early age. But most of the people don’t follow this path. Unless you’re lucky enough to have a full pension and benefits that kick in at that age, like full military retirement or from work as a police or firefighter.

You will probably need to work until the age of sixty to get enough money for a comfortable retirement. Of course, you may want to work longer, to keep your mind and body active and possibly extend your life. Or because you haven’t saved as much as you found you needed.

There are reasons why retiring early may not be a good thing to do. Early retirement requires a large nest egg that most people may not have. When life expectancy increases, early retirement will mean long retired life. You may also run out of money before you die.
 

anil02

Verified member
Some people think early retirement to mean leaving the job at an early age. But most of the people don’t follow this path. Unless you’re lucky enough to have a full pension and benefits that kick in at that age, like full military retirement or from work as a police or firefighter.

You will probably need to work until the age of sixty to get enough money for a comfortable retirement. Of course, you may want to work longer, to keep your mind and body active and possibly extend your life. Or because you haven’t saved as much as you found you needed.

There are reasons why retiring early may not be a good thing to do. Early retirement requires a large nest egg that most people may not have. When life expectancy increases, early retirement will mean long retired life. You may also run out of money before you die.
At present at the age of 60 most of peoples are enough healthy, so they don't want to retire before 60. But some are get retirement for some othre reason although they are fit to work. Here in India most of department have option of VRS. One of friend avail it because department were sending to their employees to other departments.
 

Alexandoy

VIP Contributor
I am against early retirement especially for those working in the office. The government employees are retired at age 65 while most of private companies have 60 years as the retirement age. There are some banks with 55 as the retirement age. What will a 55-year old do if he is retired? It will ruin his life because loss of occupation at an early age is risky to the mental health.
 

Mataracy

VIP Contributor
Some people think early retirement to mean leaving the job at an early age. But most of the people don’t follow this path. Unless you’re lucky enough to have a full pension and benefits that kick in at that age, like full military retirement or from work as a police or firefighter.

You will probably need to work until the age of sixty to get enough money for a comfortable retirement. Of course, you may want to work longer, to keep your mind and body active and possibly extend your life. Or because you haven’t saved as much as you found you needed.

There are reasons why retiring early may not be a good thing to do. Early retirement requires a large nest egg that most people may not have. When life expectancy increases, early retirement will mean long retired life. You may also run out of money before you die.
You are very right but some time one just need to take the bull by the horn. In a country where they don't even take care of their retiree one need to wake up to the challenge earlier enough so that one we not suffer at the end .
To me once you know what you are doing the first thing to do immediately after you received appointment letter is to start planning business you can do to yield profit so that you don't need to Waite till the retirement age before you drop your letter of retirement honourably.
 

anil02

Verified member
I am against early retirement especially for those working in the office. The government employees are retired at age 65 while most of private companies have 60 years as the retirement age. There are some banks with 55 as the retirement age. What will a 55-year old do if he is retired? It will ruin his life because loss of occupation at an early age is risky to the mental health.
To give chance to young it is must that we have retirement system. In India age of retirement for government employees are 60 years, earlier it was 58 years. Here in private sector age of retirement is not fixed. In these days because of better health service health of peoples are much better so age of retirement can be 65 years. We must be remember that working capacity decline with age
 

sincerem

VIP Contributor
It depends on the kind of gig when finds himself or herself working on. If its in the military and you go to war often and your family needs you alive cos you have responsibilities to fulfil in your household couple with, you're the only son or daughter. Such kind of factor can make one force him or herself to early retirement even when it is unwise.
 

Chibson

VIP Contributor
As far as you are still very healthy to work then I don't see a reason why you should retire early. Except you want to venture into other businesses or you have a business that you are running that fetches you a lot of money, then retiring early is not advisable. It is also very important for people to make plan for their retirement and future.
 

Ozigba Richard Lamai

Active member
If you want to retire early it is an individual's decision,make good plans for your future before retiring from any kind of work that you are into, this is because the plants that you put in place will determine whether your future is going to be easy or challenging for you. Every individual must have a plan because if you don't plan to succeed you are definitely planning to fail.
 

btaliat

VIP Contributor
I am sorry, I want to disagree to agree with you but it doesn't mean your are not correct with your opinion. The time of retirement is not a factor whether one will run out of money as you conclude. You can retire late and still doesn't have anything to fall back on. So if someone has a better plan for himself and his future, one can resign at any age.
 

Samuel72

Verified member
I don't see early retirement as a great idea the only way you can think or take up the decision of early retirement is when you have enough investment. If you only depend on the money in your bank and retire early there's a possibility for you to get broke at your old age this is because the cost of living might get high.
 

Briangsam

Active member
The difference between retiring and resigning is that when you retire, sometimes you can still receive (social) benefits like healthcare and a pension. Resigning means you voluntarily quit your job, which means you're not eligible for those benefits. So you have to weigh your options and decide why you have to quit and what you are quitting your job for. Does it worth it?
 

anil02

Verified member
It depends on the kind of gig when finds himself or herself working on. If its in the military and you go to war often and your family needs you alive cos you have responsibilities to fulfil in your household couple with, you're the only son or daughter. Such kind of factor can make one force him or herself to early retirement even when it is unwise.
You are right it is very common in army that soliders get retirement when every they are eligible for pension. It very common in India. If a solider get retirement before the age of retirement , here they can get job in other government departments. It is extra benefit for them. Here we have quota for ex-serviceman in government jobs
 

sincerem

VIP Contributor
You are right it is very common in army that soliders get retirement when every they are eligible for pension. It very common in India. If a solider get retirement before the age of retirement , here they can get job in other government departments. It is extra benefit for them. Here we have quota for ex-serviceman in government jobs
That's awesome that soldiers get extra honors applying and securing job in other government job departments. Here in my country if a soldier retire on his or her will when it isn't disabled, it will go with nothing. Their is no reward or reservations for such kind of soldier. They say, such soldier is a weakling not fit enough to represent the country during war and the rest.
 
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