What age is not considered ‘early retirement’ .. above 62 ? Above 64?

[cyber888]

Most discussions in this forum I’ve read talks about early retirement referring to ages 50 - 59. On a few occasion, some retire in their 30s and 40s. Then, there are those that retire in their early 60s .. like 62.
Would it be accurate to say that if you retire at 65 .. that is not ‘early retirement. Or if you retire after age 60, that is not early retirement?

 

[Dtail]

You will hear lots of opinions on this one.
FWIW, I believe anything under 65 is early.

 

[SheitlQueen]

You will hear lots of opinions on this one.
FWIW, I believe anything under 65 is early.

I agree, early is anything younger than 65.

 

[wmc1000]

+1 on pre-65

 

[audreyh1]

Agree - before 65.

 

[davebarnes]

So, does this mean I have to leave this forum?
I will report you guys for ageism.

 

[Dtail]

So, does this mean I have to leave this forum?
I will report you guys for ageism.

I think the forum has "laid off" folks under 40/50 y.o., so you probably wouldn't be able to successfully sue.

 

[RobbieB]

If you die while still employed you have retired too late.

 

[Oz investor]

If you die while still employed you have retired too late.

+1

or have retired before you are financially independent ( that must rate as premature )

 

[RonBoyd]

Early would, of course, be sooner than you previously thought it should be. (That might be at age 80 or 90.)

 

[ziggy29]

Most people think of 65 as the "normal" retirement age, but that made more sense before the Social Security FRA was increased. Using that, the Generation X "retirement age" is 67, and who knows what it will be for Millennials by the time they get closer to retirement.

If one is covered by a defined benefit pension plan, of course, "early" may be defined differently according to plan documents.

 

[braumeister]

The Baby Boom is considered to have begun in 1946. The change in FRA from 65 to 67 is phasing in over a 22 year period and affected everyone born in 1938 or later. That's a very gentle transition IMHO.

 

[cooch96]

I think 59.5, because that’s when I can access all retirement funds without penalty. But I can get the principal of my Roth account before that, and some folks’ plans enjoy a Rule of 55. So I’ll say 55 and under is early. Final answer (for now).

 

[steelyman]

It’s probably an artifact of when I was growing up but I always thought of standard retirement at 65 and early at 62. I’ve no idea where that 62 came from.

In general I agree that pre-65 would be considered early.

 

[ziggy29]

I’ve no idea where that 62 came from.

Well, it is the earliest one can file to collect SS, so there is that!

 

[Rianne]

I'll go with somewhere between 55-65. So I"m 62, am I a senior or is that a new thread? I ask the movie kids when we buy our tickets and they don't have a clue. I just want the discount.

 

[steelyman]

Well, it is the earliest one can file to collect SS, so there is that!

You’ve resolved my uncertainty and confusion! Time to return to retirement!

 

[Midpack]

Anything under FRA certainly, but it doesn’t matter. Early is whatever you think it is, there is no absolute consensus, so others may agree/disagree - who cares? Some people want out of their job/career long before 65, a few people can’t imagine not working and go into their 80’s and 90’s. And there’s FI too, a big factor - if you’re not FI, it’s too soon no matter what your age. All good.

 

[gauss]

How about any time earlier then your friends / coworkers?

They will let you know if they think it is early (grin).

-gauss

 

[youbet]

Before we can agree on what age defines the border of "early" retirement, wouldn't we have to agree on what constitutes "retirement?"

You know, the usual ambiguous situations such as the difference between being "semi-retired" and "working part time." Or being FIRE'd and being a kept man...... (you don't work and feel FI, but it's because your DW is a renowned MD making a million bux a year). Or you officially "retired" from the military at 40 yrs old and are entitled to military retirement benefits but you choose to work in a second career. Now you're a retired guy yet working full time........ It goes on and on.

 

[MarieIG]

Social Security tells me my full retirement age is 67. So, 67.

 

[braumeister]

wouldn't we have to agree on what constitutes "retirement?"

Yes, and that will happen about the same time we all agree on any other issue that has more than one possible answer.

 

[Red Badger]

Yes, and that will happen about the same time we all agree on any other issue that has more than one possible answer.

We would also need full agreement on the definition of "retired." With any luck, the IRP (Internet Retirement Police) will be along shortly to sort all of this out.

 

[Offgrid Organic Farmer]

Anyone who 'retires' before they were old enough to get Social Security, retired 'early'.


If you wait for SS to kick in, everyone does that.

 

[scrabbler1]

I would say there are different levels of early retirement. At 65, you are eligible for SS and Medicare. At 62, you still eligible for SS but not Medicare. At 59.5, you can tap into your tIRA but are not eligible for SS or Medicare. At 55, you can access your 401k if you have just separated from your job but can't access SS, your tIRA, or Medicare. Before 55, you can't easily, if at all, access your tIRA, 401k, SS, or Medicare, forcing you to rely solely on your taxable account for several years while buying HI through the ACA (like me).