When talking of retirement, is there a 'definition' of 'early retirement'?
When a person can retire varies greatly from very early in life if financially gifted, to never, with a whole range of scenarios in between.
I'm 55 now, and think about my 'work end game' a bit. I'd like to stop working by 65, but feel I will need to keep going as I got my home loan last year (with a 30 yr term) that I'm paying off faster than the minimum payment schedule (projected term is currently 24 yrs).
So can I 'retire'? Not sure. At age 70 I will have to alter my retirement fund setup because the industry-specific one I've been in since 1987 has a rule that at age 70 you have to close the account and move the money elsewhere. That could be the time I pay most or all of the remaining mortgage off, providing I can sustain myself. I have another fund (a regular one) since working in private industry I can't contribute to the original one anymore.
I could keep working past 70 but in a very limited capacity (definitely not full time). I already work perm part-time (due to parenting requirements).
'Early' retirement (whatever that is) is probably off the table.
I see on dating sites a heap of women saying that they are 'retired' in the early 50's onwards and there could be lots of reasons.
If you could retire 'early' (a) would you? (b) what would you consider 'early retirement' to be?
I'm 55 now, and think about my 'work end game' a bit. I'd like to stop working by 65, but feel I will need to keep going as I got my home loan last year (with a 30 yr term) that I'm paying off faster than the minimum payment schedule (projected term is currently 24 yrs).
So can I 'retire'? Not sure. At age 70 I will have to alter my retirement fund setup because the industry-specific one I've been in since 1987 has a rule that at age 70 you have to close the account and move the money elsewhere. That could be the time I pay most or all of the remaining mortgage off, providing I can sustain myself. I have another fund (a regular one) since working in private industry I can't contribute to the original one anymore.
I could keep working past 70 but in a very limited capacity (definitely not full time). I already work perm part-time (due to parenting requirements).
'Early' retirement (whatever that is) is probably off the table.
I see on dating sites a heap of women saying that they are 'retired' in the early 50's onwards and there could be lots of reasons.
If you could retire 'early' (a) would you? (b) what would you consider 'early retirement' to be?
