Quote:
Originally Posted by RockCrusher
An early retirement can be nice.
But an early retirement means whatever you have to sustain you -- in terms of money/income -- has to last you and your wife longer.
You could retire at 62 (my Dad did) and you could live long enough you could be retired longer than you worked. Which is again my Dad's situation. He retired at 62 and lived to 95+. Thus he was retired for 34 years. But he worked only 32 years: From 1950 to 1982.
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***Wow. That's a long time to be retired. That requires a LOT of money, be it a pension or other retirement income, etc..
Many people aren't good at planning for things that will happen far in the future and want to live the good life now figuring they can start saving or investing for retirement later, or keel over dead from partying with hookers and blow in a binge week at some point...
A lot of elderly people live on just Social Security here in the USA and it doesn't seem like the best way to go about.
Ironically, one of my friends from college did well financially, was always a planner for the future, and died of a massive heart attack in his mid 40's... Bad genetics, but also poor lifestyle habits and allowing himself to get way too heavy and sedentary. His widow at least now has a ton of money to spend and never needs to work again.
Best to plan ahead and hope you make it.