Do people actually retire early?

[audreyh1]

Quote:

Originally Posted by accountingsucks Although i plan to retire early, based on the sample size of people I know or work with, this seems unobtainable. I literally know zero such people but know plenty of 60+ year olds who work including the president of the company I work for who is approaching 70. If these early retirees exist, where are they? I do not want examples from internet blogs. Do you actually know a real person who has retired in the 40's or early 50's successfully?

Well, I know me!! (39) Several of my colleagues at my company retired early in their 30s and 40s as the company was small when we started and became rather successful.

In Austin I also knew people from other successful companies that retired in their 30s and 40s. I think in high-tech areas you are more likely to run into people like this.

We have a close friend who retired at 50 after serving 25 years as a policeman.

In traveling and RVing, I have met many people who proudly retired in their 50s. They tend to be quite vocal about it. Obviously there are a lot more of them than the 30s and 40s folks.

The thing is, that when people retire, they really disappear from the working world - don't look for them there! Yes, we probably seem invisible, because we are out doing stuff when you are working, and we avoid being out on weekends when places are crowded. You are much more likely to run into these folks in some travel excursion or some other adult recreational activity. Look for them when you are on vacation.

Yep - there is a parallel, invisible universe!

Audrey

[bbbamI]

Quote:

Originally Posted by easysurfer Let me guess, probably sitting in front of their computers, sipping a cool drink (beverage of one's choice), typing away in a retirement forum?

oh...and I retired at 41.

[Bikerdude]

Quote:

Originally Posted by audreyh1 The thing is, that when people retire, they really disappear from the working world - don't look for them there! Yes, we probably seem invisible, because we are out doing stuff when you are working, and we avoid being out on weekends when places are crowded. You are much more likely to run into these folks in some travel excursion or some other adult recreational activity. Look for them when you are on vacation. Yep - there is a parallel, invisible universe! Audrey

Yeah, the ER shadow world. We're not at Home Depot or the grocery store on weekends except in an emergency. During the week I listen to the rush hour traffic reports while I check email and have another cup of coffee.

[WB52]

I personally only know one. So I know it is indeed possible. I am determined to make it work for DW and me too. In reality, I already feel the relief of knowing that DW and I are financially secure enough to feel some relief from wage slavery already. I keep w*rking now to make a more comfortable, secure future. But if it all becomes too much...I'll walk.
I like this site very much, because it helps me keep the goal in mind, is educational, and occasionally inspirational!

[IndependentlyPoor]

I retired at age 50. What I can't figure out is how to convince you that I really exist.

[easysurfer]

Quote:

Originally Posted by bbbamI oh...and I retired at 41.

I like that, An ER'd person version of "Happy Hour!"

[LARS]

Quote:

Originally Posted by IndependentlyPoor I retired at age 50. What I can't figure out is how to convince you that I really exist.

To paraphrase Sartre in this new high-tech world: "I type, therefore, I am."

And I retired at 38 and have a number of ex-colleagues that punched out early, but that was Investment Banking and not accounting.

[kramer]

Quote:

If these early retirees exist, where are they? I do not want examples from internet blogs. Do you actually know a real person who has retired in the 40's or early 50's successfully?

Well, I am in Colombia

I am 44, retired at 41 and that was after getting a late start on my career (I was almost 24 when I started college).

The very early retirees that I have met (45 or younger?) personally are Billy/Akaisha, Ben, and Paul/Vic Terrhorst. But I met them all through the internet via early retirement forums before meeting them in person.

But now that I think about it, no one in my extended friends or family network, and this includes extensive connections in Silicon Valley, did a very early retirement. Also, I have traveled to and lived in a bunch of countries and met a lot of people since I retired, and yet I have never met another Very Early Retiree that I know of, save those I mentioned above that I met first through the internet. So I guess we are a rare breed . . .

Also, even of this small group, I am the only one that I know of that has basically done no work for pay (writing articles, writing books, AdSense web sites, angel investments, etc) since retiring. That is one reason I prefer to call it financial independence -- it is not necessarily retirement, as not working is not the most important element. The important element is freedom to do what you want with your time.

I recently posted an update on my Early Retirement here:

Raddr's Early Retirement and Financial Strategy Board :: View topic - Three Years of FIRE

[LOL!]

Nope, not even govmint workers can retire until they are 95:
Postal Worker Retires At 95, Onion Sandwich In Hand : NPR
I can't decide if an onion sandwich is better than cat food or not.

[haha]

Quote:

Originally Posted by kramer Well, I am in Colombia I am 44, retired at 41 and that was after getting a late start on my career (I was almost 24 when I started college). The very early retirees that I have met (45 or younger?) personally are Billy/Akaisha, Ben, and Paul/Vic Terrhorst. But I met them all through the internet via early retirement forums before meeting them in person. But now that I think about it, no one in my extended friends or family network, and this includes extensive connections in Silicon Valley, did a very early retirement. Also, I have traveled to and lived in a bunch of countries and met a lot of people since I retired, and yet I have never met another Very Early Retiree that I know of, save those I mentioned above that I met first through the internet. So I guess we are a rare breed . . . Also, even of this small group, I am the only one that I know of that has basically done no work for pay (writing articles, writing books, AdSense web sites, angel investments, etc) since retiring. That is one reason I prefer to call it financial independence -- it is not necessarily retirement, as not working is not the most important element. The important element is freedom to do what you want with your time. I recently posted an update on my Early Retirement here: Raddr's Early Retirement and Financial Strategy Board :: View topic - Three Years of FIRE

Super interesting Kramer. Thnx for the link.

Ha

[Htown Harry]

Quote:

Originally Posted by accountingsucks Well the reason I ask is that any time this subject comes up at work and I mention I would like to retire early, they think I'm A)Crazy or B)Naive. You just see the same people grinding it out M-F and it's hard to think there are people who actually don't live this way.

In other words: B) What do you mean, you want to be financially independent from a paycheck? or A) Why would anybody want to retire early?

The collective ER.org wisdom has taught me that the FI part can be boiled down to a simple math problem. Something like this:

Career income
- working-life spending
+ career retirement benefits (pension, SS, med coverage, etc)
+ (LBYM savings x investment growth and compounding)
+ windfalls (gifts, inheritances, lottery winnings, etc.)
= my retirement portfolio and benefits

When the sum is greater than 25 times a desired retirement income, you're FI

See Firecalc and a few hundred helpful threads for more details.

Sadly, not many 25 to 40 year-olds have grasped how the various parts of this equation work and interact with one another, which puts a real damper on the number of 45-year-olds prepared to consider ER.

For those in their 40's with the foresight (or luck) to actually be prepared financially, the self-examination needed to answer "why do I want to retire?" trips up a large percentage. The retirement lifestyle isn't for everyone.

A small percentage multiplied by a small percentage = a very small percentage. Our flock is indeed pretty rare.

"Crazy" or "naive" are often just convenient labels some folks come up with to categorize opinions or knowledge not matching their own.

[Nords]

Quote:

Originally Posted by Bikerdude During the week I listen to the rush hour traffic reports while I check email and have another cup of coffee.

I try to get to the beach at dawn, or at least drive to the beach that's opposite the rush-hour traffic flow...

[scrabbler1]

A few months before I retired in late 2008, two coworkers in my office retired at age 55. One was a married man and simply latched on to his wife's medical plan. The other was like me, single and childfree (but was female, unlike me).

Both of them, like me, had long, tiring commutes and were simply sick of them. Both of them, like me, got out when our company stock was still very high, before it tanked a lot at the end of 2008 (after I left, too). Both of them were grandfathered into the pension plan which had been frozen for me because I was too young (45).

The woman was more angry at her management (she was in a different department). The man was not. He had been my boss for a few years before he got switched around and was higher up on the food chain than I was.

I have stayed in touch somewhat with the woman but not as much in the last 12 months. I have not stayed in touch with the man although he lives in my county.

[clifp]

Besides Nords, who looks a lot like his pictures . I know four other people who have stopped working before the are 50 plus my Brother In Law who actually retired twice before finally retiring at 65 and my cousin a retired firefighter who was about 50 when he stopped working.

Among my former Intel colleagues many have stopped working for corporation and work as "consultants", entrepreneur advisers, charitable organization where I'm pretty sure they don't actually collect paychecks.

[Tigger]

The youngest I've met worked in a coalmine and when those were closed in my country, got his retirement at 38! Or at least that's what he told me. Later on he worked a bit as an IT conslutant, to keep busy.

An uncle and an aunt were teachers and were offered a chance to get out at 50, which they are happy to have done.

I also know about a guy who is living a quiet life with his beautiful young girlfriend, receiving social security because he's "jobless". He is said to have a fat investment portfolio that generates a nice income. Won't have to work ever again probably.
He's cheating the system, but the others simply were lucky to get a (reduced) pension at an early age, back in the days before government started worrying about funding future pensions.

[WhoDaresWins]

A high school classmate of mine retired at 50 as a police officer. My old electrician sold his business at 45 and retired. My cousin retired at 55 from her federal job. And I know a couple of military members who retired in their forties, also some teacher friends in their early 50's.

[aaronc879]

No, I don't know anyone who retired early 50's or earlier. One of my grandmas retired at 55 with a nice cola'd city pension. One of my aunts retired at 58 with an even nicer cola'd city pension. Neither of them had a net worth above $200,000(neither ever owned real estate) when they retired and have still been quite well off just with the pension and SS. No one else in my family has ever retired before they could get SS. I expect to retire in my 40's.

[Dawg52]

My Dad retired at 58 and my brother at 50. The only golf buddy I have that retired early did so at 62, so not that early. That's about it.

[donheff]

Quote:

Originally Posted by accountingsucks If these early retirees exist, where are they? I do not want examples from internet blogs. Do you actually know a real person who has retired in the 40's or early 50's successfully?

Ha was right, there are no early retirees. There is just a conspiracy on the Internet by us fakers to make our fellow workers suffer more. We make all these posts about the joys of ER from our desks at mega-corp.

[Dawg52]

Quote:

Originally Posted by kramer Well, I am in Colombia I am 44, retired at 41 and that was after getting a late start on my career (I was almost 24 when I started college). The very early retirees that I have met (45 or younger?) personally are Billy/Akaisha, Ben, and Paul/Vic Terrhorst. But I met them all through the internet via early retirement forums before meeting them in person. But now that I think about it, no one in my extended friends or family network, and this includes extensive connections in Silicon Valley, did a very early retirement. Also, I have traveled to and lived in a bunch of countries and met a lot of people since I retired, and yet I have never met another Very Early Retiree that I know of, save those I mentioned above that I met first through the internet. So I guess we are a rare breed . . . Also, even of this small group, I am the only one that I know of that has basically done no work for pay (writing articles, writing books, AdSense web sites, angel investments, etc) since retiring. That is one reason I prefer to call it financial independence -- it is not necessarily retirement, as not working is not the most important element. The important element is freedom to do what you want with your time. I recently posted an update on my Early Retirement here: Raddr's Early Retirement and Financial Strategy Board :: View topic - Three Years of FIRE

Nice post in the link. You need to write a book someday.