How old is too young to retire?

[Elizabeth35]

OoohShiny--I don't know your exact situation. But paying off a dwelling, while desirable, is not required to have an enjoyable retirement. DH and I do not have any pensions---nor do most people in the US.
That is pretty much a thing of the past unless you are a teacher, government worker, military, etc.

You are saying two conflicting things. First--you live off credit to 'live' as opposed to just exist. Then--life is too expensive to save anything.

I agree life is expensive. But I think if you are on a forum that is focused on diamonds, it is hard to also say you have no money to save.
Again--I don't know your situation or your income or spending habits. And I am sorry if you have had hard times. I have also and it is no fun.

These are all issues of simple arithmetic. Earn more (have a side job or better first job) or spend less. Lol--hopefully both.
I was divorced at 50 with virtually nothing. I have always been frugal and I stepped up the cheapness.
Clothes were purchased on eBay and all home repairs were done myself--new thermostats, oven repair, new sump pump. I literally could not afford to pay for repairmen because I maxed out my 401K. No vacations and no eating out. Did a side job for extra $$.
I will add that I was very happy! I had healthy kids and wonderful friends and met my DH. Being poor was fine---it was a challenge to overcome.

So step outside the box and think about what you could do differently. It becomes a game and not a matter of going without.

 

[Austina]

I retired at 29 lol.

I retired at 24 16 years later I went back to work part time and retrained, but only worked a few hours a week. I gave that up a couple of years ago. My husband started retiring when he was early 50's, set up his own consultancy business and worked when he felt like it. He fully retired 8 years ago, doesn't miss it at all.

We travel a lot and manage to fill our time doing what we want.

 

[Missy]

Congrats on your retirement Missy! I think many equate retiring with a loss of a professional identity. At least that's my fear. And after working so hard and devoting my life to my professional purpose, my fear is that I'll no longer be relevant in a world where I'm relevant every day. I don't know if it's wrong to think that, but that's what I fear.

I have the luxury of taking summers off. I have made a vow to myself that I will spend these summers looking for a new passion, forging a new identity. Do you have any tips for that?

Personally I never felt my identity (professional or otherwise as I didn't separate one from another) was tied so much to what I did. Who I was wasn't and isn't what I did for a living if that makes sense. My career was my job and I did the best I could for the people I served but it wasn't who I was. So I didn't have any issues (with my identity) not doing that anymore. I still feel relevant and content without my professional purpose (to borrow your phrase). And I think you will be fine too.

It's not about a timeline either as I am just letting myself be right now and just process and enjoy not having to fit my schedule to a work timetable. I don't want to make a To Do list and I just want to see how things go. It's funny because I am a structured person and like schedules but I am also very regimented and it is easy to continue being structured without having a job to go to. I enjoy my morning workouts and then the rest of the day just seems to flow at least for now. Check back in with me 6 months from now and perhaps I will have a different perspective.

I completely agree with Matata in that one of the best things about retirement (in my short time being retired)- and what I was most looking forward to leading up to my retirement in anticipation- is the freedom to choose what I want to do when I want to do it (with a few limitations/exceptions of course when things happen as they often will).

To all those newly retired my advice is enjoy the adventure one day at a time and things will fall into place. Don't put too much pressure on yourself. Let it be and see what happens. And most of all be kind to yourself. After a lifetime of working it is OK just to be and enjoy the peace if that is what you want. In time you will realize how structured or unstructured you want your retirement to be. No rush. You have the freedom of time...and hopefully for a long time to come...

 

[daintyG]

I am also a teacher and can technically retire at age 53 if I want. I'm 29 now, so it's far off for me. However, I have already considered what I would do when I get my years in. I will probably T Drop for a few years or several years. Is that an option for you? It seems like a good deal. Then I would retire from full time teaching and do some other work while collecting the teaching retirement. Teachers here commonly do this. Depending on how much they want to work, they substitute, or work for an educational cooperative, or work for educator consultation services (so they get hired out by the hour by school districts to coach teachers and help strategize and raise test scores). Some of the above mentioned jobs allow for flexibility and traveling. Of course, you could pursue a job in a completely different area, too, just for fun.

I have heard a few teachers say they can't do this because they can't afford to lose their insurance coverage from teaching. How sad. That's not an issue for me personally as I'm on my husband's insurance anyway.

 

[luv2sparkle]

I retired at 26 to take care of my family. My husband will retire next July, just shy of his 59th birthday. Had we not had 5 kids we probably would have retired much sooner as many in his profession do. I don't regret having our family so we are fine with that. We are both so looking forward to it! His job has often required him to be gone many days in a row and I am looking forward to spending every day and night with him. We recently purchased a new truck and 5th wheel trailer and are looking forward to traveling and spending our days together.

 

[autumngems]

I will be eligible to regular retirement at 2021 as I will have 30 years govt service. My hubby retired from military in 2001 and now works for govt he can retire a second time in 2021. Now we're paying for college for daughter.

 

[soxfan]

Nah... likely doesn't matter-- I was a teacher and had more kids than years between them, so it was more of a forced issue. (And married so went down to one income)

I have noticed most of my public school teacher friends have retired as soon as they eligible.

EXACTLY the same for me. I was 31, though. I Quit teaching when I had my son. Cost us more to put them in daycare than I made. My husband makes a really good salary, so I don't have to work. I sub occasionally at a charter school, and I freaking LOVE my co-workers. It's very laid back, way different than public school. I wouldn't sub in public school...