To Retire At 56? Or Rough It Out...

[Higg-num]

Were it NOT for me literally putting my entire life on hold for over 17 years with a 90 Hour work week, ( A majority of that in Operations which has risks ) I would feel ashamed to admit the following; sort of retired at 38-39. I relate this story to help NOT boast of my on humble and gratefulness towards my fortunate circumstance.FWIW, I had a man on his death bed jump all over me when I visited him. I had cheated death myself or at least sever harm recently at that time anyway..( Well, more or less. I had excellent doctors ) None the less, he simply asked me, " What the ( Insert profanity here ) are you waiting for...to get wealthy ? ! ? Take what you have ,quit working so many hours. How many friends make it to retirement in your careers ? ! ? ! How much longer you think you are gonna live Higg-num ? ! ? You never even experienced common things ! How many times have you taken a date to the movies, When was the last time you just went out, met people, traveled ! What the ( Insert even more profanity and huge insults here ) are you working for ? ! ? Are you that selfish concerning money ! ? !Three days later I put my business up for sale and turned in my paper work to the higher-up powers. I do to live frugal. I don't have a dish washer, my home is very small but very well built. I drive old, old vehicles that I can fix. Lost over half my income /investments for almost 90 days when the market crashed around 2008-09 but had emergency funds. Thank goodness they came back.The point is this is an individual decision. ONE must discern what it is they really want. I do not have a lot of the latest but I'm happy !! Early retirement gives you a chance to explore new things. Learn to sing, read, volunteer, take up hobbies or skills you always wanted to do. Engage in athletics.Heck, Half the time when ever someone asks what it is " I " do for a living...I think silently to myself....." What ever I wish " ; )Bottom line; I wake EVERY day pleading with God Almighty...Thanking him for giving me this NEW life. This new awareness I guess you might say.

[JJReyes]

When planning your retirement, keep in mind the United Nation life expectancy table.Philippines - 71.7 yearsUSA - 78.3 yearsRetirement is not a topic of conversation in Mozambique. Life expectancy is 39.2 years.Please remember the numbers are average. If you are planning to live longer, someone else has to have a shorter life. To retire at 56? It's not a bad idea. You are more beating the odds if from the Philipines and the United States, but not if you are from Mozambique.

[MikeB]

cannot live a great retirement life without lots of money.

Could not disagree more. All the money in the world won't buy you happiness. All the money in the world won't save you if you are terminally ill.eg, Jackie Kennedy, George Harrison, Linda McCarthy, Steve Jobs, etc. You can be very happy though poor and very rich and miserable. Examples abound.

[MikeB]

Philippines - 71.7 years

That's the average between male and female. The Avg Life Expectancy for males in the Philippines is 3 years lower - 68.72. (http://www.indexmund...cs_profile.html)OP, this is a personal, individual decision, no one has to live with the consequences of a bad decision but you. Take all the advice with a grain of salt and weigh all your factors as dispassionately as possible, especially your health. The financial aspect is just one part of it. If you're not alive none of it matters.

[billten]

Does ANYONE know a person that retired early and regretted it? I sure don't.Go for it, start a new chapter and move on man...

[Old55]

cannot live a great retirement life without lots of money.

Could not disagree more. All the money in the world won't buy you happiness. All the money in the world won't save you if you are terminally ill.eg, Jackie Kennedy, George Harrison, Linda McCarthy, Steve Jobs, etc. You can be very happy though poor and very rich and miserable. Examples abound.

I agree Mike, A typical Filipino with tight budget and rarely seen without a smile on their face.

[MikeB]

Does ANYONE know a person that retired early and regretted it? I sure don't.Go for it, start a new chapter and move on man...

I don't personally know anyone who admitted it but I only know a couple of expats and those I met through the forum. There was, however, a former member, Travis, who wrote many times of his unhappy life and struggles because of lack of money. He was apparently living on SS only. He eventually moved back to the US to work.

[Dave Hounddriver]

There was, however, a former member . . .

Good call. I have also met a couple of real life people who regret running low on money. Their solution is usually to go 'home' and work 'for a while' so they can come back. I don't believe these people regret retiring early. I believe they regret not being able to live the same lifestyle as a retiree as they did when working full time. It is something we have to come to terms with in our owns ways.

[billten]

Agreed. There is no substitute to decent planning and reasonable expectations; but, i still claim that if you CAN do it; then do it, get off the fence and do it. The timing will never be absolutely perfect...

[i am bob]

I retired at 36 (stopped working at 35 and almost a year of leave) from the Canadian Armed Forces. And I really have regrets! I regret that it's been 18 years of having all the money I made since then go down the drain in a failed marriage and then paying off debts. I will be out of debt later this year and moving asap to the Philippines. Why? Because I am going to be living on my military pension - and while I can survive in Canada on it, I can enjoy life in the Philippines better on the same amount. (Not to mention finding the love of my life there as well) I'm only 54 (barely) but I wished I had moved there when I was 36!!!