For those who are still in the workforce, what is your ideal retirement age? As for me I want to retire before I hit 40. I've got slightly over a decade to realize that. My main blue print in realizing that dream is saving a lot now and spending less. What's your ideal retirement age and what are you doing to achieve that?
I don't think there's an ideal age for retiring. I've seen people retire when they are 35 but all that ever changes is who they work for. I think for someone who desires freedom, they'll want to retire any time they've saved enough. Those who just love working [and getting paid while they do it] may stick around longer. I believe therefore "IDEAL" would differ from person to person depending on numerous factors.
Each and every person has their own idea of what an ideal retirement age is. Mine is 62, but I don't know if I will have enough in the bank to make that a reality. I am still young and have plenty of years to save though. You first have to figure out how much money you will need to be comfortable and everyone has their own idea of what comfortable is.
I wanted to retire at 55 in high school. 55 was the earliest that you could retire. Needless to say I was ignorant to what retiring involved financially. As others have stated money is the key to retirement at any age. You can retire from one job and still continue to work to supplement your retirement income or just because you like working.
I would not mind doing a partial retirement when I am younger and then working a part time job that I really loved. I would be totally happy not commuting to work each day, but sitting at home doing some writing to supplement my retirement money. The key is to be happy and have time to do the things I really enjoy in life.
I can't imagine lounging around doing nothing because I'm retired. In fact when I retire as you aptly putting, I'll merely be changing jobs. Only difference is, the job I do after I retire, don't know if it can be classified as a job, won't make me a lot of money. Maybe it won't make me any money at all which is why I have to invest [a lot and wisely] so I can earn enough to live on whilst I do stuff which I've always wanted to do but can't [currently] because I don't have the Capital [yet].
I'd work, as long as I enjoy working. However, the mode of work differs as I assume senior positions. I like going places during paid vacations, but working gives me a lot of pleasure, particularly when I accomplish something of substantive value.
40? Good luck! I might have had a plan like that once but it didn't come to fruition. I don't actually think there is an "ideal" age. It depends on so many factors - your circumstances, where you live in the world, your goals in life, inflation, interest rates and so on. I've already decided that I don't intend to fully retire - possibly over the years I'll be working a lot less, but the idea of being handed a carriage clock and a "thank you for all your efforts" fills me with dread.
I think it all depends what your definition of retirement is. I can't see myself ever retiring from anything. I love what I do. I need to be active all the time and engaged in a variety of projects. I honestly can't see that changing when I am getting older. Obviously, I might have to slow down a little, but that's fine. As long as I am physically and mentally able to do what I enjoy most in life, I will continue doing it until the day I die.
If you choose a work that is in line with your comfort zone, then I think retirement is pretty much useless. I mean, people find a job so they can support their daily existence and eventually receive a decent pension upon retirement. This mindset isn't even practical. I want to be able to work and earn comfortably for as long as possible. By doing so, I'd be able to build something for posterity's sake.
I have not yet decided on what age I would retire. It is important though that I will be financially stable before I can really enjoy the fruits of my labor. My mother retired at the age of 60 years old. She is in good health, thank you God, and has a fair amount of money set aside so she can live comfortably. She enjoys local and overseas travel from time to time. She is also active in various organizations in the community to keep her busy.
I'm still working and the retirement age in our office is 60. But I guess that age is too young to retire since a 60-year old person is still strong and useful to the society until the age of 70. So maybe if the law can be changed, I would suggest that 70 becomes the retirement age. At that age, it is time to relax and take the retirement benefits that you fully deserve.
I think it depends what your idea of an ideal life is, and how much you enjoy the job that you do. I am a freelance editor, and while I enjoy editing novels and non-fiction books, there are some aspects of my job that I don't enjoy, too. My dream would be to be able to just do the parts of work that I enjoy, and take a step back from the parts that I haven't liked quite so much. As a result of thinking like this, I am not only trying to save a lot of money at the moment, but am also trying to think of ways that I can invest to mean that I get more of a return on the money that I have saved. This is the way that you're going to make the most in the future, for sure.
