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Reader Question: What's All This Talk About Early Retirement Print E-mail
(4 votes, average 5.00 out of 5)
Personal Finance - Retirement
Written by livecheap staff   
Friday, 26 March 2010 03:03

A question from reader Chris, "A theme that I see in LiveCheap's articles is the notion of being able to retire early. I don't want to retire early and many others I know are of the same opinion. Why the focus on early retirement."

Chris, great question. Many people are quite happy working and have no interest in stopping early. The point is that you have the option to do so when you live cheaply. While you might think that working is great when you are 35, when you hit 50, you might not be of the same mind. Having choice is one of the key benefits to building up a solid net worth. What happens if you hate your boss when you hit 50? Or maybe you just want to work in a more rewarding but lower paying job. If you haven't been living below your means, you don't have that choice.

There's also another reason. Early retirement isn't always an option, sometimes it is forced upon us. Being 50 plus years old and hunting for a job is difficult especially in a down economy. So if you are "offered" an early retirement package or your retirement is created by a layoff, you won't sweat it if you know that you are set for the rest of your life.

Thanks for the question, and keep them coming!

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