When Are People Most Likely To Retire?

Isn’t it funny how everyone’s dream is to retire young and rich. I remember when I was 15 and said I want to make enough money to retire at 30, now I’m 32 and nowhere near being able to kick back and relax. I dont even have a pension, I’m foolishly relying on one of my business ventures paying off big style!

Let say you do make enough money to retire at an early age, my question would be “What are you going to do with your life?”
I can only imagine after a few months you would get pretty bored, why not keep working while enjoying a better life style. I suppose the real question is “How much money is enough?”

Hi Julian, great comment and I agree that it is funny how most never achieve the goals that they have while being young. I know that people have different reasons (or excuses) for not reaching their goals but I think that the important part is not to learn why other people fail but rather be honest with yourself about why it didn’t come true for you. Have you given that any thoughts? (You don’t have to share the reason if you don’t want to).

As for relying on your business ventures I must admit that I think that is a great choice and one that I’m sure you’ll be glad you went for if you put your mind to it.

As for why people want to retire early and rich there are definitely as many different reasons as there are people. For me “to retire” doesn’t mean that I am going to sit on the beach, drinking drinks and doing nothing but watching the ocean.

To me “retirement” means that you will no longer HAVE to do anything to make money and THAT is true financial freedom. But not having to do something doesn’t mean that you will do nothing but rather that you’ll be able to do what you want whenever you want.

So I don’t think the real question is “how much money is enough” but rather that you will need to have a clear vision of what it is that you want to spend your time doing when you will no longer HAVE to do something but are able to do it because you want to do it.

Mikael

To clear up the “retire at 21″ There is a really well known website called retireat21.com

I would like to semi retire at 30. I am 23 years so I have sometime to really focus on my plans and make it happen. I never thought the whole work until you 65 to retire was a good luck idea. Unless you are the owner of the company sitting back watching other people do it.
.-= Deneil Merritt´s last blog ..Are You Sick Of Seeing Me Everywhere? =-.

I don’t even know if I’d live to be 62. But I do want to be able to work as long as my body permits me too. Why? Because you have to love your job and when you love it, you’ll have fun and retiring would not be something you would think of. I know this is impossible but a guy can dream right?

Yes it is. But at least over time people may learn that it doesn’t have to be that way, and you should be happy in the knowledge that you are helping people onto the right path.
.-= Sire´s last blog ..Getting Paid For Reviews That Have The No Follow Attribute =-.

Hi Julian,

Thank you for sharing and for being so honest. I think we’re main that have fallen into the instant gratification trap and had high hope without wanting to put in the effort (myself included).

And for your thoughts about online income vs. a paycheck I can definitely follow that path. Of cause you can always argue that just as online income might not be reliable in the long run, a job is not secure either and we’re seeing it these days where a lot of people are being fired.

And I agree that if you love what you do there is no reason to stop doing it.

Hey Mikael, thx, for the email.
I do think I will put a comment here.

I think people think of retirement in different ways.
I’m not planing on retireing at all in the sence of not working again, but I do have a plan of retirering completely from my job, but only to be working for my self, in ways making it possible for me, for example to take a vacation when ever I wanted without it having signifficant effect on me and my family’s economy.

The plan is to retire from my JOB by the time I’m 40. I’m turning 30 in 2 weeks, and is at the moment working almost fulltime(34,5 hours a week) and parttime on my “Retirement” or fortune as Jim Rohn Calls it.

The plan is to cut down on my fulltime job gradually over the next 10 years.

I’m quite sure I’ll get there.
.-= Thomas Pedersen@Hostgator discount´s last blog ..Fik du dit eget navn på FaceBook? =-.

@Thomas, I am sure you will get there too. Just praise yourself lucky that you’re in a job you can cut down on gradually. Most people can’t do that!

@Chloe, thank you for sharing your story. It is always inspirational to hear from someone that has been able to retire from (the job trap).

Nicolas, if you don’t mind me asking, how did you get to the stage that you are at now. Was it through something that you did online or through investments and ventures in the outside world.

I could have been in that very position except for certain mistakes, either in timing or because I was not willing to take certain risks. Perhaps if I was single and didn’t have a family to worry about.
.-= Sire´s last blog ..Word Of Mouth, A Bloggers Most Effective Marketing Technique =-.

OMG! You have made your second fortune selling origami and (besides that you have business skills that are better than most peoples) you did that by leveraging SEO as a big part of it.

If I wasn’t impressed before then I am definitely impressed now!!

Mikael

I’m particularly proud of the origami business because I started with basically no funds at all and everybody was laughing at me saying that nobody would ever buy origami at all!

When I showed them the Purchase Order requesting 20 containers, they didn’t laugh anymore.

Now that sounds easy, but you have to be able to fulfill this kind of order or your face big troubles. I had nothing at all since I was “working” alone out of my living room. Within the next 90 days, I had to find paper suppliers, warehouses, factory space, workers, and trained them…. do you know a lot of people who can do origami… Doh!

Yes, without SEO, I would never have been scouted by that merchandiser, so that was my part of luck! My accomplishment was to take up the challenge to fulfill the order against all odds!
.-= Nicolas Prudhon@SEO Help´s last blog ..Case Study: IndoContest.com =-.

OK, now I am really confused. You are 31 years old, have 5 kids and none of them live with you now? I’m 50 with two kids and I still have them under my roof. Have you ever seen Al Bundy in Married With Kids? That’s me
.-= Sire´s last blog ..Getting Paid For Reviews That Have The No Follow Attribute =-.

@Sire, If you’re Al Bundy then I think you’ll need a new Gravatar icon

@Sire, Yes, that day I lost my wife and children, that day money was the last of my concerns, all words of success and achievements were meaningless to me.

Luckily I have met a person that give me a new motivation in life, and this is why since last year I decided to stop to work, and spend more time with the person that really matters to me.

When something like that happen in one’s life, you’ll learn very quickly to reassess your priority and values.
.-= Nicolas Prudhon@SEO Help´s last blog ..How Much Money Can You Save With SEO? =-.

I’m so glad it all worked out for you in the end, but I can’t imagine what you went through. Still, life goes on, and it just goes to show how having the right person behind you can help you to achieve your goals.
.-= Sire´s last blog ..7 Beautiful CSS Galleries To Help You Find Inspiration =-.

HI Mikael,

I’m very glad talk on the retirement early.
For me, retirement means that I can secure myself and my family.
I’m 24 years old right now. I graduated law faculty, but my country is over corrupted in this field so I don’t find myself succesfull.
So, I find that internet is a big market. I try to learn SEO as it is the key of success on the internet. Sadly is that I found SEO not a fast learning knowledge. I need time and determination.

I’m very happy to see Nicolas here. I must say I’m impressed by his life story. Sincerily, I read Nicolas story to my mother as it is a real life story. This story gives me the motivation to look forward and follow my goal.

I agree with you Mikael, that most of times when a tragedy hits somebody it changes his mind and life. It is weird! I also lived this kind of experience. So, for me retirement would mean the possibility to help those people who are close to me and my family. That would make me very happy!

Thanks for this post Mikael:)
Ion

Hi Jason, why do you say that? Don’t you think that people retire from their jobs?

Interesting. I know quite a few people that have recently retired or that is going to retire within this year.

Now I can say for sure but I think that if you talk to someone in the HR department they’ll very likely tell you that people are still retiring

Hi Jason,

Well I did retire last year, for a start.

Now, I think I understand what you are trying to say, it’s that because of all the recent financial crisis, people are afraid to retire as they can’t trust or are worried about their so called “financial security” that retirement is supposed to provide.

And that’s exactly why I had dedicated my life to retire rich early, and not follow that shallow illusion of financial security at retirement age provided by the government (regardless of the country you come from).

Real financial security is the responsibility of each one of us, not the government.

When after working over 40 years and you suddenly realize that this potential virtual security offered by retirement threatened, all you have left is hold on your deadly job…
.-= Nicolas Prudhon@SEO Help´s last blog ..I Need Your Help =-.

Less and less people will be able to retire at 62 (or earlier) in the future. The fact that people are living longer is the reason. It means that only those you are pretty wealthy will be able to retire early and support themselves through many years of retirement.

It is true that many don’t think about retirement. I know someone who’s had his own business his entire working life and assumed he would have earned enough by 60 to retire. He’s now 57 and his business isn’t doing so well so he can’t save for retirement. Having said that he does have a big house he can sell if he get desperate.

I think there might be a little too much going on on the initial load of your blog. I see just the background for a couple seconds, until the page is finally up. But excellent info worth waiting for ). Definitely ‘two thumbs up’.