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You're probably been off this track for a while, but my friends are specialty doctors and make in excess of 300K a year.
They live well, but not lavishly, and all of the $ they save goes into investments. Businesses on the side, real estate, interest collecting ventures.
If they lived even more simply, they could all probably retire by age 50 to 55.
The irony to your question is that most people who have the means to retire early (those friends mentioned above), rarely do. They may retire from medicine, but will start alternate ventures and may even work more hours.
Other than the police force, firefighting, and anything involving the military, that is? I prefer a job where I don't have to interact with people much, or an office job...
A lot of government jobs. Teacher, postal worker, etc. (But of course, you don't have Social Security; they have separate retirement vehicles.)
A lot of government jobs. Teacher, postal worker, etc. (But of course, you don't have Social Security; they have separate retirement vehicles.)
That isn’t really true. In my old state, you either had to have 30 years or be able to take social security (62) for most government positions that were not high risk. The high risk ones like firefighter, law enforcement/corrections officer were the only one that had 20-year full retirement options.
Find something that you love doing and you will not need to retire. My plan is to work into my 80's or 90's. As it is I get over 5 weeks of vacation a year and never take it. I end up cashing it out so that I don't lose it.
Earlier this year I remember hearing about a man that past away at age 104 I think. He had worked to 92 I think. Wrote a book about living a long life that became a best seller. Even in retirement he did not stop doing something. His thoughts were that the more you stay busy and active the longer you will live.
My parents next door neighbor when I was growing up, retired from his job at age 55. He had started his own business and ran that for 30 years, until he past away. His wife is 102 although she does live in an assisted living facility now. She had been doing the same thing she did her entire life. Still owns her home, but rents it out, also owns rental property that her son and daughter manager for her.
My advice, find something that you love and do it for years. Don't plan on retiring although prepare for retirement.
You're probably been off this track for a while, but my friends are specialty doctors and make in excess of 300K a year.
They live well, but not lavishly, and all of the $ they save goes into investments. Businesses on the side, real estate, interest collecting ventures.
If they lived even more simply, they could all probably retire by age 50 to 55.
The irony to your question is that most people who have the means to retire early (those friends mentioned above), rarely do. They may retire from medicine, but will start alternate ventures and may even work more hours.
Yep. Friend of mine is a development architect, a fairly high-end IT Position yet still tactical where needed. My peers; I'm a principal PM, major projects to c. $5M at this time. About same level of authority.
We are paid beer money next to his wife, who is I believe an endocrinologist. She must be pretty good, she bills her time here and there between a couple hospitals in greater Seattle. The money sounds like what OP mentions. My friend refuses to stress about much, he somehow finagled about 8 months off the other year and chose his current job. Likeable guy and brilliant. They invent things in their spare time, because busy minds have to roam.
I figure they'll work another ten years, when they're both about fifty. Figure I'm in it until 60. That's as short a short-cut as I can do and still not leave significant money on the table.
Not social work if you don't want to work with people!
Same thing with the suggestion of "teacher". As far as retiring "early", not so much. New college grads in my district will need to work 43 years for unreduced retirement assuming they start at age 22. I've been around longer and will be eligible for unreduced pensions after 33 years.
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