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

[Nemo2]

I stopped working at 45. After reading these comments I feel fortunate.

I ceased being employed at 46. And, apart from a variety of intentionally temporary exposures to drudgery, I was only semi-seriously a participant for around 15 years.

Not really my cup of tea, as some might say. The last 30 years and 24 days have been, overall but not all, great.

I thought of not working before I was coerced into it, so 'early retirement' from my perspective would have ideally been 14 years of age.

 

[tmm99]

When I see that I think it is for one or a combination of four reasons:

1. They need the money
2. They need the health insurance
3. They need the social contact
4. Some people feel unfulfilled if they're not working

I thought about that too. One guy (who's probably in his 70's) at Home Depot here in Canada - he's the most knowledgeable in the electric isles and I feel lucky when I need something there and he happens to be working. (The other workers seem to have no clue!) I also see many working for the city/region and I believe they've been there for a long time. Whatever reason, they choose to keep on working, but probably none of them for the health insurance since healthcare is very inexpensive here I could be wrong, but I feel like I see more older folks working here in Ontario than when I lived in northern California (for ~20 years).

 

[Cobra9777]

I retired at 52 from a corporate job that I started at 28 after grad school and a few false starts. Megacorp defined "early retirement" as 55. All that meant was that there was a small bump in the pension value and you got to keep unvested options and RSUs. I still get a modest pension annuity and subsidized health insurance. But I traded a lot of Megacorp stock for 3 years of freedom. DW retired at 56 from a local government entity. She also has a nice pension and subsidized health insurance.

FWIW, I think of 62 and up as "normal" retirement; and anything below 62 as "early."

 

[MarieIG]

My full retirement age for SS is 67. I remember listing to Suze Orman on tv a number of years back. I thought that DH and I would need to work to age 70. Really.

Then I started lurking on this forum. It really gave me a new perspective, I moved my goal up from 70 to 65; and more recently 60.

Now, we'll see if I last that long.

So, while I will not qualify as early retired in the opinion of many; it will be for me.

 

[Itsagrind]

My issue is if you'd do something different based on that label.

- 58 is early retirement. Oh, I feel too guilty to retire early, so I'll hang on.

or

- 58 is not early. OK, I can retire and feel ok about it.

It just doesn't make sense that you'd do one thing or the other based on what others do with that label. Since you're asking in this context, it seems to at least be on your mind. It shouldn't. If you have enough money to retire, and have better things to do with your time, you should retire. Whether it's early or not.

Appreciate the pep talk...you’re spot on...are you available for therapy session? Thanks!

 

[Itsagrind]

Wouldn't you say that you earned the right to spend your retirement, early or otherwise, as you see fit? After my early retirement (age 59), I slept late for a couple of months and my wife just went about her business and didn't bother me about it. When I was ready to start doing things and becoming engaged again, then I started doing so. That said, sometimes my best moments are sitting on the couch, gazing out the windows and just letting my mind wander!

-BB

Bryan...I do feel as I’ve earned the right...and sitting on the couch, gazing out the windows sounds pretty darned good, especially on days like today when it is below zero in New England. Thanks for the input and support...much appreciated!

 

[braumeister]

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.

When I was still a teenager I decided that I would have the goal of getting there ten years earlier so I could enjoy retirement longer than most people. I made it, or close enough. (55.3)

 

[Itsagrind]

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.



When I was still a teenager I decided that I would have the goal of getting there ten years earlier so I could enjoy retirement longer than most people. I made it, or close enough. (55.3)

Congrats and enjoy...you earned it!

 

[gayl]

I retired from gov't position @ 52. Spent 6 yrs completely retired. Taught 1 class for 3 yrs. Then seasonal for a few years which led into FT which I did not want so left for good last January. Now the only 'work' I do is with my investments & planning trips [emoji68]*[emoji335]

 

[misanman]

I know a fellow who is mid forties but has never really had a job. Would you say he retired at 18?

 

[Dtail]

I know a fellow who is mid forties but has never really had a job. Would you say he retired at 18?

Not sure, but would say he probably has had parents support his entire life.

 

[RobbieB]

Don't care and was not in any rush. Didn't hate my job either, in fact I enjoyed what I did and was well paid for my effort.

And by not quitting as soon as I could I now have...More Dough to Blow -

 

[Bir48die]

No particular reason, but always thought anything before age 62 early SS. .
We retired at 53.
22 years growing up and going to school,
30 years of w*rk,
30 years of retirement ,
60 years of marriage, and
wouldn't change a thing.

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.

 

[lampshade]

<59

 

[bingybear]

We retired at 53. Do I call that early retirement? Not really. It is just when I retired. You can call it what you want. It was my normal retirement since I've only done it once. It may be turn out to be my early retirement if I go back to work and do it again.

Make your own label. This is not a competition. Do what works good for you.

pax

 

[tfudtuckerpucker]

65 is commonly thought of as retirement age, but according to this, the average retirement age in the United States among currently living retirees was 59.88 years old. The median living retiree left work at 62 years old, and the most common age to retire was 62 years old. 18.7% of retirees retired at age 62, and a whopping 63.1% retired between the ages of 57 and 66. So if you retire before 65, you're in the majority. "Early" means "happening or done before the usual or expected time". Most people think they will work until 66 (according to this), but the majority retire before then.

I retired earlier than the majority, but was on schedule for my plans.

 

[corn18]

I'm going to be a lemming and go with SS FRA (for me). Anything before 67 is early. I'm more concerned about getting to FI than defining RE.

 

[jollystomper]

Since I retired at 60, I defined early retirement as 60. Simple.

 

[Scratchy]

Before age 60.

 

[Col. Klink]

I retired at 57, but do consider anything under 65 to be early. Reading on this site, can skew thoughts on the typical age for retirement. Even on this site, the average retirement is probably 56/57.
I live in a gated non retirement community in FLA (but has some retirees) and don't know anyone else under 60 who is retired.

I also live in a Florida non retirement community as you. Been here 4 years. Several new neighbors have moved in during that time. They seem amazed that my DW is 57 and I am 58 particularly when we tell them we moved here in 2015. I worked PT until December when I called it quits. From September on, each time I saw neighbors at the pool or on the street they would ask are you REALLY going to retire?? Some were like, "we don't understand, who is paying you". The concept of paying for yourself using dividends and interest was inconceivable to my neighbors on a pension and or living on SS.

 

[Midpack]

I'm going to be a lemming and go with SS FRA (for me). Anything before 67 is early. I'm more concerned about getting to FI than defining RE.

I was going to say 65, but I agree FRA is a good reference. But I don’t know what difference it makes to pin down an age. You retire sometime/anytime after you reach FI and have better things to do than a conventional job, who cares what someone else calls it?

 

[ckelly78z]

Being able to access your 401K without a penalty is at 59.5 years old, and early SS at 62, so anything before these dates I consider early.

Good planning makes a good ending !

 

[street]

Being able to access your 401K without a penalty is at 59.5 years old, and early SS at 62, so anything before these dates I consider early.

Good planning makes a good ending !

If I would have to pick a date (ER) means it would this ^.

 

[tmm99]

Being able to access your 401K without a penalty is at 59.5 years old, and early SS at 62, so anything before these dates I consider early.

Good planning makes a good ending !

But most 401K plans allow you to take a distribution at Age 55 without penalty if your employment is terminated past your 55th birthday.

 

[Rianne]

ER, Retired while you're healthy, active and can enjoy life. If someone is RE because of health issues, I don't consider that FIRE because there was another layer to the decision to ER. If you're ER because laid off and had no other choice, mmm, not sure I"d consider that ER. IMHO, if you have the resources, desire and choice to be ER and can at least, enjoy ER, that's the age I define as ER.