Friday, January 01, 2010

Reasons to Retire

Despite all the gloom and doom about the economy, it may still be worth thinking about retiring. Ten reasons to retire posted at A Private Portfolio presents a good case for when to consider retiring. I wanted to share the author's reasons and how they have applied to my own case of retiring early.
  1. Can afford it. Once we saved enough, we were open to the option of retiring. In addition, getting good affordable health insurance was an important factor for us.

  2. Time is a precious resource. I'm very glad I had an opportunity to be present during our daughter's infant, toddler and pre-school years. I would have missed a lot if I had been working full time.

  3. Don't need more. We have avoided extravagance and live a moderate lifestyle, which is sufficient for us.

  4. Getting older. My mental and physical capabilities aren't as good as in my 20s and 30s. Unlike good wines, these capabilities don't improve with age.

  5. Changing priorities. Adopting our daughter made me quickly realized there is much more to life than a career. Career and career advancement is a lot less important to me nowadays.

  6. Personal interests. I've been rediscovering my childhood interests since taking early retirement, including playing sports, stamp collecting and volunteering.

  7. Physical health. Since retiring, I'm more fit, eating better and sleeping more.

  8. Less stress. To me, retirement has definitely been less stress and more fun.

  9. Mental health. I've enjoyed expanding my mental capabilities outside of my career.

  10. Giving back. For me, this means making a difference. In addition to spending more time with our daughter, I've started teaching science to first graders.

Although I wasn't able to articulate them this well, every one of the reasons were a factor in my decision to retire early in October, 2007. Even after the Great Recession, I still consider the choice to retire early a good decision.

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 © 2010 Achievement Catalyst, LLC

1 comment:

Teri Green said...

When looking for reasons to retire you have to consider a lot of things like if you are prepared for it in terms on the financial aspects of it. And if you are very sure you are, then that will be the time to consider relaxation and enjoyment during retirement, plus experiencing new environment and cultures.