What age would each of you define as “early retirement?”

[GalaxyBoy]

I retired a few days after my 57th birthday. Since peoples' reactions were nearly universally, "Whaaaa? You're too young to retire!" I considered it "early."

Not that it matters.

 

[Scuba]

I retired shortly after my 56th birthday, and DH retired at 57. We consider ourselves to have retired early, realizing that there are many who retired younger. The people we worked with were all shocked that we were retiring and since retiring, we often get questions or surprised looks when we tell people we’re retired.

 

[YVRRocketSurgery]

I learned from my grandfather that "retirement age" was 65, because that was when you got Social Security and also when you got Medicare. That was considered normal and expected.

That's my thinking too. I think standard retirement is around 60-65 when a lot of government retirement-related benefits kick in.

Anything in your 50's to me is standard early retirement as I feel a lot of pensions have magic numbers that support a mid 50's retirement. At my megacorp, a lot of people with the old DB pension that started with the company fairly young either hit their numbers around 55 or have been pushed out in their early 50's with enough severance to tie them over to when their DB pension can kick in around 55.
Anything below 50 is very early retirement IMO.

I don't think the labeling in itself is important but I view earliness from a financial challenge perspective. The earlier you retire, you won't necessarily be able to initially tap into government benefits and/or possibly a work pension while being more dependent on personal savings.

 

[kcowan]

25 years education (Masters)
35 years productive
25 years retired
so far so good....

 

[kimcdougc]

I retired at 50 and DH retired at 57. We didn't consider it early till everyone we talked to said we retired early. So be it. Living life on our terms.

 

[Splash]

The only time the "early retirement" label mattered to me was when I told HR I was thinking of retiring at 54 with 30 years of service. HR informed me that Mega Corp considered leaving before age 55 as quitting not retiring and I would not be eligible for any Mega Corp retiree benefits. I opted to stay and retired at 55 and 2 days.

Haven't taken advantage of any Mega Corp retiree benefits so probably didn't matter in the end. However, I like the ability to use the IRS Rule of 55 if I would need to access my 401k funds prior to 59.5.

 

[Offgrid Organic Farmer]

I retired at 42. I think that any age below 60 is fairly early.

 

[misty57]

As we were working, we defined early retirement as age 55 because that was the first year that DH could receive a pension. He retired at age 56 so not as early as planned.

 

[pb4uski]

FWIW, I have always thought ot 65 as normal retirement age and early retirement as 55 or younger. I planned for 55 but ended up retiring just after my 56th birthday.

 

[FreeBear]

When people still say "you look too young to be retired"! Guess DW and I are still ER's!

 

[Rustic23]

Isn't this another bragging rights thing? I retired at 62, I think, and it was about three years earlier that I had planned. So for me I retired early, but what difference does it make?

 

[W2R]

I know that, technically, anything under 65 is considered early retirement. I’m 58, and I am counting the days to when I can finally escape the clutches of big corporate. Now, I always plan to do “something” to keep busy, bring in some spending $$$, but I don’t view 58 as a particularly early retirement.

You?

I think that definitely anything under 65 is early retirement, because that used to be the standard retirement age for many people.

But really it's whatever the retiree thinks. If someone retires at 68 and feels like that is early, then so be it.

I retired at 61. When I appeared here a few years before that, I was scared that I'd be chased off the forum for being too old. But I was assured by forum members that I was young enough so I stayed.

 

[Lakewood90712]

< 55

 

[Al in Ohio]

I totally agree with this. I am shocked that many answer 55. When you think as a percentage there is a sliver of Americans that retire prior to 62, that becomes a pretty decent number. I understand the sampling size is small in relation to reality.

Not a sliver at all. The current AVERAGE retirement age in the USA is age 59.8. Many workers with physically demanding jobs retire before age 56 because they are basically worn out and thankfully have pensions that kick in earlier.

 

[badatmath]

55 or earlier. I wanted to add I don't see it as uncommon - Know many who had a 20 or 30 and out kind of job or worked at a megacorp that allowed pension access at 55.

 

[Ed B]

I agree that a logical definition is <65 (Medicare age +SS option).

But more subjectively any age below 62 where the retiree left on their terms; has enough tread left on the tires to get out and do things they enjoy; and young enough that their retirement causes people to express some surprise that they were able to retire at that age.

 

[cooch96]

<55

Had I enlisted at 17, instead of going the officer route, I could’ve fully retired from the army at 37. That seems wonderfully early to me. I also spent a couple years in my late 20’s looking for a rich Ms. Right with the idea I could get a cushy job in the family business or just be a house husband.

 

[Ed B]

I agree that a logical definition is <65 (Medicare age +SS option).

But more subjectively any age below 62 where the retiree left on their terms; has enough tread left on the tires to get out and do things they enjoy; and young enough that their retirement causes people to express some surprise that they were able to retire at that age.

Something odd happened with reply, at least with how it displays on my android. Oh well.....

 

[RoyDornoch]

I read this thread to see if a target retirement at 62 is considered "early" since it seems early to me (even though at one time I'd planned to retire at 50). I'm 60 now and feel good which is why 62 seems early, or young. I suppose for me, if pressed, retiring early means retiring while things are going well on all fronts. To step away at 62, which I am personally committed to do, seems "early" to me.

 

[Offgrid Organic Farmer]

<55

Had I enlisted at 17, instead of going the officer route, I could’ve fully retired from the army at 37. That seems wonderfully early to me. I also spent a couple years in my late 20’s looking for a rich Ms. Right with the idea I could get a cushy job in the family business or just be a house husband.

I am a military retiree. I know a lot of other military retirees. Most of us, get the DOD pension but do not have any other portfolio. Most of us get the pension and use it like a car payment, but still must work to support our families.

I build my net worth during my 20-year military career, so that when I got my pension I was actually able to retire.

 

[ckelly78z]

According to the federal government, my fully vested SS age will be 67 years old. Something truly, profoundly, bad would have to happen to keep me working that long. I did want to retire at 59.5 like my dad was able to, but was extended full benefits, and insurance throughout his retirement from working 41 years in a union factory.

I will most likely retire in the 62-62.5 range with plenty to live a happy life. Health insurance is my wild card.

 

[brett]

It depends on their occupation

We met a retired former senior British police officer last week. He has been retired for just under 30 years. He retired on a full indexed pension at age 49. He put in his required time and exited for a life of travel.

I went at 58/59. My father went at 58 then collected his DB for 30 years. Was that early? I guess it depends on your experiences and your perceptions. No doubt everyone wi have a different number in mind.