Ideal retirement age

Hello PC Team,

I am curious to see what you guys consider to be an early retirement?

For me personally, I think it's 50 years of age. It gives one a lot of time to enjoy life but at the same time an opportunity to develop and utilize their human capital.

Thanks

 

I’m hoping to stop paid work at 60, but 50 sounds better!

 

55

 

Hi Realist35,

Honestly I believe it is what ever you can afford to live off. Everyone would have a different number for their own specific reasons. Personally the younger the better, but unfortunately for me it is not possible until about 40 since I wouldn't have enough for my retirement lifestyle.
I would be keen to hear from others, even though I've read that people become bored and end up working in something that they love so they keep themselves busy rather than say sitting by the pool or going to parties if you get my drift.
Peace out

 

Hi The Y-man,

Please enlighten me on what has stopped you from entering the workforce.
Peace!

 

Lol can't think of anything worse (going back to work). I don't think I'll miss working one single bit.

At what age did you retire mate?

 

This is a loaded question surely

asap

 

• Old age
• Expired visa
• Can't be @rsted
• Lack of transferable skills
• Is extremely ugly
• Has a problem dealing with people
• Is agrophobic
• No-one can afford him
• Cannot go out during daylight hours
• Y-man isn't his real name
• Doesn't have a a TFN

 

Hi Scott No Mates,

I guess The Y-Man doesn't regret retiring early then even though he said it's over rated. I am with Realist35 on this one, I can't wait to retire.

Peace out.

 

I'm aiming for 51 only because I'm OCD and could not live with the mental anguish if I retired part way through my 25th year in the Brigade rather than seeing it out and retiring on my anniversary date. Having said that, I would have liked the option to retire at a much younger age but I started the FI journey too late.

However, whenever I do "retire" it will only be from the brigade and not from life or meaningful activity.

 

Whatever age one retires, not only does one require sufficient passive income to cover one’s lifestyle expenses (at least their “needs” and preferably their “wants”), one also must have a cash reserve to cover any unexpected events.

We have been retired for nearly 10 years now. In the last 3 years, we have had two health issues that were totally unexpected.

Total cost around $180,000. Thank goodness, we had full health insurance.

But even if we didn’t, we couldn’t have funded it all from our cash reserves. Albeit, it would have made a severe dint in our reserves.

 

That’s a a good point YMan, I theoretically could leave work and for the first time possibly in my working life have a better understanding of my personal worth in the workplace, this has certainly allowed me to be far more assertive than I ever remember being. In the last four weeks six colleagues have not had their contracts renewed and are instead casual.this is destabilising and distressing not to mention poor management. I can only look on and realise how fortunate I am to be permanent and think how bloody lucky I am to be almost at the end of my paid working life. But I still could take the leap of faith and I don’t like hearing my colleagues say “ oh, I’ll have to work until I’m 78 ya da ya da until the mortgage is paid off” because if you have a property you have options, many people don’t.

 

Beside the main purpose of giving back to my community, that is the second reason why I love doing volunteer work.

... they can sack me and it makes no difference to my income .

A really, really powerful position to be in (and one that shouldn't be abused).

 

Your definition of GIVING is obviously different to mine .

 

Seen it all too many times, my fathers age group, retiring at 65 and passing at 66-68.

Granted life choices plays a big part here. However stuff leaving a full working life to chance.

55 sounds safe and about right. Though I do think its important to keep active in some capacity, both physically and mentally.