What is the earliest you've heard of someone retiring? (pension, moving, inheritance)
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Obviously there are some who inherit a boatload of money and never work a day in their life (i.e. Paris Hilton). I'm talking about what is the earliest age that you've heard of someone retiring from an actual career field and no longer works?
I've always thought of retiring in my early 50's, right now if I can keep up my current saving/investing habits, I should be able to hit that goal (without any major hiccups such as losing my job or major medical problem). I don't want to be working until I'm in my 60's, I really want to set my own schedule and do what I please when I please.
The earliest I have known anyone to retire is their mid 40's. He worked for an insurance agency when he was younger, invested much of the money he made, and then opened his own successful firm. He sold that particular firm after building it up from the ground and made millions of dollars on the sale. He decided that he no longer had the need to work so he bought an oceanfront home near Malibu, CA and retired for good.
Obviously there are some who inherit a boatload of money and never work a day in their life (i.e. Paris Hilton). I'm talking about what is the earliest age that you've heard of someone retiring from an actual career field and no longer works?
I've always thought of retiring in my early 50's, right now if I can keep up my current saving/investing habits, I should be able to hit that goal (without any major hiccups such as losing my job or major medical problem). I don't want to be working until I'm in my 60's, I really want to set my own schedule and do what I please when I please.
The earliest I have known anyone to retire is their mid 40's. He worked for an insurance agency when he was younger, invested much of the money he made, and then opened his own successful firm. He sold that particular firm after building it up from the ground and made millions of dollars on the sale. He decided that he no longer had the need to work so he bought an oceanfront home near Malibu, CA and retired for good.
38..... after 20 years in the military or the police.
Depends on what you call retirement (see this thread). I know people have chucked it all and just stopped working with basically no income or resources. They do what they want, when they want and live an extremely frugal life. Not a traditional retirement, but I suppose you could call them retired.
Traditionally, I would guess the military, police, fire route would put it at 38. Possible some traditional types that really saved and invested aggressively and retired younger. I assume that would generally take a combo of saving aggressively and living a frugal lifestyle, but not always.
By that I mean that their pension started at 38 and they were moving to really low cost-of-living areas where their pension would make them comparatively wealthy.
By that I mean that their pension started at 38 and they were moving to really low cost-of-living areas where their pension would make them comparatively wealthy.
I retired at 41. No inheritance. Worked hard, long hours, saved, did without all the "I want" stuff and only did the "I need" stuff. That was 20 years ago, and doing just fine thank you.
Trust funders. Either they never had to work at all, or stopped working when they felt like it.
I know a couple of guys who live very frugally, as their inheritance (not trust fund) doesn't allow high living, but they simply don't work. One dabbles in writing (he's not very good) and the other claims to be doing independent math research. ??
I knew a brilliant guy who did retire at 40, sold his software company. At the same time, his lover died of AIDS and he said it was weird- he was only 40, yet he was retired and widowed. Last I heard, he was thinking of a software project that scanned porn on the internet and delivered images you didn't already have. I asked him, "Do you really think there's a market for that?" He was incredulous, ARE YOU KIDDING?
Are at-home wives considered to be retired when the husband retires?
I know quite a fewe guy that wre in their 30's that retired after the 70
s recession when companies added 5 years to their service and other bonuses.They were not even forced but couldn't pass up the deal. I know other that actaully were given deals but force out.All I can think of that young stated second careers;some workig for themselves with many making alot fo money afterwards
The company My Dad worked for was acquired by another company. He was offered early retirement,He took it at age 56.
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