re: Retiring with 75% pension, is it smart to wait that long?

What's a pension?

Signed,

Non-government employees

Some people also genuinely enjoy their work.

I love what I do and feel fortunate to get to do it. I hope to “retire” early, but the plan on paper is to gradually grow my side business into a sustainable income, so really more of a “work as much as I want for myself” plan.

I’m sure someone might still have that love for what they do in their later years. I’m not there, so it’s hard for me to say.

Scared to make a change I guess. My mother is a teacher who secured her pension a few years ago, and she still hasn't left. I dont know why. I have repeatedly told her that she could take her pension, get a part time gig with less stress and time commitment, and still come out ahead, but she doesn't listen to me. And then she still complains about her job and the administration. I dont fricking know, man.

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This is why I retired at 30. Didn't care about the money. It's also why I'll be going back to work at 32

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You joke, but I think doing something like this in early 40s could help into older age to prevent the "what else to do" when 70 comes around. Help blow some life into your marriage, etc.

Obviously need to save money to live off, and maybe not 2 yrs, but 6months of so of not worrying about anything might help. Clean up your life. Go thru your house, and clean up shite youve "meant to get to" for a while. Truly get a kick start into a bigger hobby that you have wanted to get into, that you find hard "starting" when you have to work. So "work for yourself" in a way, and when you get back to the grind you have that hobby set-up to do more with free time.

Obviously hard as 40s is that spot you are at to get into mgmt. I know someone in their late 50s/early 60s that was a VP. Got worn out. His company gave him a 6 month hiatus for him to spend time with his ailing mother, and for him and his wife to spend time together prepping for how to handle his moms next steps etc. W/o worrying about company stuff. He came back a lot more refreshed, but at a different VP position.

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This is why I retired at 30. Didn't care about the money. It's also why I'll be going back to work at 32

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I actually used that to explain a gap in work history once. The truth was that I was laid off in an industry downturn. I told an interviewer that I'd taken early retirement, but found that the retired life wasn't stimulating enough so I wanted to go back to work. He just laughed and moved on.

/CSB

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People like this piss me off. Go ahead and retire so some other people can move up already!

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I'm gonna work forever just to watch your entitled arse get stuck at the fry station for the rest of my life.

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Probably partly because they're still supporting that millennial they failed to raise properly

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Probably has more to do with being house poor and racking up credit card debt, but maybe

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Probably has more to do with being house poor and racking up credit card debt, but maybe

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Yeah, actually there were a lot of bad spending/saving practices in my generation. I'm an exception, having a relatively low debt/income ratio. If I worked for a company that offered a pension, I'd probably be on the edge of retiring. Looks like I'll be about 10 years or so away (I'm 57). About to have 2 in college at LSU and that is part of the driver as well.

For you younger baws, start maxing out that 401K now. I didn't have that option either until I was in my late 30s. Had I been able to start that 10 years sooner, I'd probably be pretty flush right now.

What is a pay raise?

Signed,

A government employee

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Wife and I are getting to middle age status and looking at prepping for retirement

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You're about 20 years to late baw