I do not want to retire early.
There are so many articles about retirement. Everyone seems to be thinking about it, talking about it, planning for it and more.
How to retire at 30, 40, 50 blah blah blah
I unequivocally do not wish to retire early. It simply is not a good idea at all.
PS: I am 48.
What about those of us who do not want to be retired?
Many people are happy with their work as employees or business owners.
You are getting tremendous satisfaction from work, and instead of seeking early retirement, they want to continue as long as their health permits.
Maybe that’s you.
The FIRE movement
- Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment.
- By saving up to 70% of their annual income, FIRE retirement proponents aim to retire early and live off small withdrawals from their accumulated funds.
- The FIRE movement was inspired by the 1992 book Your Money or Your Life, written by two financial gurus.
The FIRE retirement movement directly aims at the conventional retirement age of 65, and the industry that encourages people to plan for it. By dedicating a majority of their income to savings, followers of the FIRE movement hope to be able to quit their jobs and live solely off small withdrawals from their portfolios decades before they reach 65.
In recent years, millennials have embraced pursuing a FIRE retirement.
Proponents of the extreme-saving lifestyle remain in the workforce for several years, saving up to 70% of their yearly income. When their savings reach approximately 30 times their annual expenses, or roughly $1 million, they may quit their day jobs or retire from work altogether.
Early retirement isn’t a good idea.
Early retirement before 62 has sometimes been associated with a higher mortality risk.
A study of Shell Oil employees found that those who retired at 55 and lived to be 65 died 37 per cent sooner than those that retired at 65. And in general, people who retire at 55 are 89 per cent more likely to die within ten years than those that retire at 65.
Now I can hear you saying…’ well, you can combat this by looking after yourself, ensuring you exercise blah blah blah.’ And yes, this may be true, but is it actually true?
The statistics don’t lie! 89% are more likely to die, leaving you only 11% likely to last longer than ten years!
Still, want to retire early?
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Thank you in advance for the claps and comments; I appreciate every one of them.
Kelly
