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I went at 53, I wasn't sure how much I would get. I moved to Arizona and bought a tiny house, with a pool. I qualified for a tax break because my pension was small. Then everything kicked in and I was doing well. I bought a bigger house which I sold a year later for double what I had paid. Then I moved back to California but things fell apart there and I moved to Sierra Vista to be close to an Army Base when my military pension came through.
I have more income than expenses and I use the facilities on the base every day. I've been retired for 12 years now, I've stopped travelling because of my health but it's so nice here I often pass because I like here better than where I was going.
I retired at 51 but had always plan to since my 20's. One thing I learned was that starting early is the only way to achieve it unless you win the lottery.Bascailly I am middle class and live much as I did in my working life.Now just 62 and actually banking my SS check.My wife is five years younger and wanted to work until she was older but seeing how mine turned out she decided to retire a year ago.Bascailly you have to start when young and have luck during the early years when your invested in growth, Then I swiutched once I was within ten years of retirement to more secure investments.You also need a litle luck combined with choices in life.It also helps if you love waht you are doing ;so work hard in your early years because most things wear on you as you get older.not sure if i could ahve retied in my 40's as they were some of the most profitable;when i saved a huge amount.Basically I made enogh for us to live well on and we saved my wifes entrie salary.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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49 for me, but I always worked PT jobs and stashed my salary (until I bought a farm, age 30...). Things kinda went downhill after that, so an age 35 retirement didn't happen as planned. (even tho my coworkers threw me a 'retirement' party). I was really disappointed to have to come in to work the next week... Working night shift really helped savings plan (15% pay premium + paid lunch breaks and free food - all day was free for other jobs, helping elderly neighbors, or farming (as well as eldercare and homeschooling). Logged 32 yrs at a great employer that turned sour when 'the most powerful woman in business' took the reins. In 5 yrs she destroyed a 65 yr old company that was cash rich (we floated loans to the GOV so they could make payroll).
Life-style.... ?? Anything is much easier than growing up an a dairy farm, followed by 30 yrs of eldercare responsibility. This is a picnic.
I do drive a 30 yr old car that cost me $35 and gets 50 mpg on free fryer grease, and eat / entertain on $100/ month. Considering moving overseas to reduce spending in the future, probably until I'm 70 or so (in case of hyper-inflation). I don't think these jokers are gonna pull it together.
100 a month to eat, ooooh my god i can do that in a day ha ha ha... our retirement budget for food and eating out is about 1000 a month. our grocery bill alone for my wife and i is 150 a week and we are always picking up other stuff during the course of the week.....
my wife and i took a ride to the bronx zoo and it cost us 100 bucks with noooooo food. just admission, parking and tolls. the metropolitan museum of art which is a city museum is 40 bucks a couple to get in the door.
just taking the kids out with their spouses for a lunch is 100 bucks....
How did you do that? What kind of lifestyle did you live?
I got my pension at 42.
We cashed out most of our portfolio and bought forested land in a rural area along side a river.
I have since built a 2400 sq ft house, with an indoor lap-pool.
We grow organic veggies which I sell some years at a local Farmers Market.
We have goats, sheep, hogs, chickens, greenhouses, raised-bed gardens. I tap maple trees for syrup, and pick fiddleheads in the spring.
The hunting is good; fishing, boating, snow sleds are popular, skiing, ...
Our children graduated from the high school here, it was a great move for them. Small school systems were a much better fit than the urban schools they had been in.
Will have no income until I can draw retirement at 50. Bought CA real estate in early 90s, paid it off, and just cashed it out to move to less expensive area. Always lived below my means: didn't buy the most expensive home I could afford, cooked my own meals, brought lunch to work instead of eating out, didn't take expensive vacations, drove my car for 13 years and 180,000 miles, maxed out 401 contributions and savings/IRA...stuff like that. Oh, and no kids.
Almost retired at 50 but decided to wait (now 51 1/2 and thinking of doing it at 55 -- I know that's a common number but it does actually coincide with a few things I have going). I am glad I waited since the markets took a turn for the worse - I have been investing every penny I possibly can...I love buying when things are cheap!
I have over a dozen rental properties - all will be paid off in the next couple of years. Bought them one at a time over the last 25 years on short notes. Maxed out 401K and other stocks and investments. Fortunately I bought in a good area and rents are still good, but I can say I have seen some affects from the economy.
Not so sure it's a good idea to retire in your 40s. Just get in some international travel in those years. I will probably do something after 'retirement' - I used to sell Real Estate and still have my broker's license - will probably do that after 55.
... Not so sure it's a good idea to retire in your 40s. Just get in some international travel in those years. I will probably do something after 'retirement' - I used to sell Real Estate and still have my broker's license - will probably do that after 55.
mmm.
We lived in Scotland for 8 years, and Italy for 3 years during my AD career.
I do understand that if a person has an itch to travel, then they need to go travel. But travel can be done at any age. I did my travel via my career.
Whenever you get a pension, and your portfolio is 'ripe' is a good time to retire, IMHO.
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Just did it at 48
