Mikael Rieck is the author of more than hundred articles on topics of how to make money both online and offline. He has been online since 1999 and has always had a passion for money making opportunities and teaching others how to make a profit.Benefits of Retiring at 55 or Sooner
A couple of months ago I wrote a little piece about being able to retire at 55 and a lot of people have been coming by that post but not that many have commented on it. I guess one of the reasons is that the post was more of a statement than a question or a solution for early retirement.
As I would really like to help people that are looking for a way out of their job before the age of 65 (or 63 depending on the country you live in), I am planning to do a series of small posts with advice that can help you not only decide if you want to retire earlier than most people but also how you can make it a reality if you put your mind to it (along with some genuine efforts).
But before I go into these concrete steps I would like to look at a few of the benefits of early retirement at the age of 55 years or sooner. There will probably be hundreds or thousands of reasons but here are at least some of them.
Travel the World in Good Health
The problem for most people is that when the time comes where they are able to get their pension and are not longer working their jobs, the health has started to decline rapidly. For most retirees one of the great joys and desires are traveling the world. But with a poor health condition this might not be as easy as they would have wanted it to be. By achieving early retirement you can travel without the hassles of a poor health condition.
Taking Care of Grandkids
At the age of 55 you are probably already, or at least close to becoming, a grandparent. By not having to go to work each and every day you will be able to spend as much time with your grandkids as you want and their parents will probably love you for it.
Everyone will benefit from it and you will get a strong bond with your grandkids. If on the other hand you will have to wait until the age of 65, you will probably find that not only your health will keep you from playing as much with them as you would want but they are probably also starting to become pre-teenagers and are most likely not going to spend as much time with you as you would want them to.
Take up a New Hobby
Some hobbies will require a certain physique and as you probably already know, there can be a big difference in your physical abilities between the age of 55 and 65. If you have always dreamt of climbing mountains, river rafting, hiking or any other outdoor sports you will have a lot more options the younger you are and even if you don’t like these sports it will still be better to have the option than having to look back and say “I wish I could have…”!
So stay tuned for the next posts where I will give you tips that you can used to improve the likelihood or retiring earlier that you would have if you didn’t follow them.
To Your Success,
Mikael
7 Responses so far
Nicolas Prudhon@SEO Help
July 29th, 2009
3:38 pm
Hi Mikael,
My foster father is not retired yet, he will next year. Not because he can’t but because he loves his job (he’s actually very successful with his job), unfortunately for him, he’ll be reaching the age limit.
He’s actually trying to stay active for as long as possible, one of his passion is sailing, and he spends a lot of time on his yacht and taking part in competition (and winning!) across the globe.
But like you said, I feel that age is catching up with him slowly and he doesn’t have the energy he used to (lucky for him he was able to do most of what .he likes without having to delay it after retirement time)
Although I haven’t experienced this yet since I’m not in that age range, I think the biggest advantage to retire earlier is to be associated with physical condition, at least for me.
.-= Nicolas Prudhon@SEO Help´s last blog ..Roadmap to SEO/SEM Success =-.
Mikael
July 29th, 2009
4:57 pm
Hi Nicolas,
It is great to hear that some people are actually capable of combining the two and I agree that some people will probably have a very flexible job where they can do pretty much as they please.
It is however a VERY limited crowd that can do this and without knowing your foster father I am guessing that unless he owns the business in which he works there will still be someone that he’ll have to ask or at least notify before leaving work (or not showing up) if he were to go fishing with his grand kids (if he has any).
Some people are cool with this and some hate to have to ask other people what to do. Luckily we’re all different and only the people that are not happy with how things are will have to change something.
Mikael
jason
July 29th, 2009
11:41 pm
I am hoping, actually, I am working on my way to retiring at 55 or earlier. This is my third year since I actually wrote down this goal, and I am already ahead of the plan, as long as the economy does not get worse I should be fine.
.-= jason´s last blog ..Stupidity at its best, this time worse… =-.
Mikael
July 30th, 2009
7:17 am
That is great Jason. So what is your plan? Are you building a business, saving your way to early retirement or something else? Please share if you’d like. Someone reading it might get inspired.
jason
July 30th, 2009
3:54 pm
A little bit of both actually. Saving mostly, and I have a business on the side that seems to have more profit than I had originally thought it would.
.-= jason´s last blog ..Stupidity at its best, this time worse… =-.
Mikael
July 30th, 2009
4:12 pm
That is great Jason. So if you are working on savings as your primary goal, have you then sat an amount that you will need to have saved in order to retire or are you planning on living off interests from those savings?
jason
July 30th, 2009
4:34 pm
I am planning on living off of interest and dividends, if it all works out and goes as planned.
.-= jason´s last blog ..I hate humidity… =-.
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