Friday, November 13, 2009

Why I Consider Myself Retired

In October, 2007, I retired from my job, while still in my forties. I know that some people questioned whether it was really a retirement or whether it was just simply a job resignation, followed by unemployment. In my case, I consider it retirement and here are the reasons.
  • Retiree benefits. I received all the benefits that a retiree gets from my company - health insurance, access to company offices, and participation in all retiree programs.

  • Nobody in our family is employed full time, by choice. In addition, neither my spouse nor I are looking for full time employment. The only work we do are part time jobs, in areas we consider fun and interesting.

  • Live primarily on savings or pension. About 90% of our living expenses come from our savings and the earnings. Since we are both under 59 1/2, we cannot withdraw money from IRAs or 401Ks without penalty, and therefore have not used these funds yet. The other 10% of our living expenses is covered by the part time work I do.
  • I still get a lot of quizzical looks when I say I'm retired, mostly because I look 5 to 10 years younger than my age. However, based on the criteria outlined above, I think I have earned the privilege of saying I'm retired.

    For more on Reaping the Rewards, check back every Friday for a new segment.

    This is not financial or retirement advice. Please consult a professional advisor.

    Copyright © 2009 Achievement Catalyst, LLC

    No comments: