Most people perk up at the idea of early retirement even if they love their jobs. They can quickly come up with a list of many reasons why they would be crazy not to take an early retirement when they were offered. There are, certainly, many good things about early retirement, but there are some things you should consider before deciding to end your working career.
The advantages of early retirement seem obvious. Not having to work full-time means to have more time to do things that you enjoy more than work.
The idea of spending everyday doing things you love sounds too good to be true, right? Who would not love hour after hour to garden, read, get in touch with friends or join clubs in your community? Taking an early retirement means having more time to travel and spend with family and friends.
You must take time to consider with caution all of the ways your life will change due to early retirement. Think beyond all of the pleasures and freedoms you will enjoy and consider your financial situation for a moment. Do you have funds in place that will be able to support you if you take early retirement? How are you going to pay for your home, cars, insurances, and travel?
It is much easier to dream about the kind of life early retirement would allow than it is to pay for that kind of life. If you have a family, you must also consider the responsibilities you have to provide for and support them. Are all of your children through college? Are there important events such as weddings that are not yet paid for? All these questions must be answered honestly before deciding that early retirement is right for you.
Another thing to carefully question before you decide on early retirement is how your life will really look without a full-time job in the picture. Sure, having no job sounds great now, but are you really willing to break away from all that your job has required of you? Many people who opted for an early retirement end up regretting the decision when they start to actually miss work and interaction with co-workers. Your work is likely to have played a more important role in your life and happiness than you think so carefully weigh the pros and cons of leaving your job for an early retirement.
The most important thing to decide in the early retirement, the decision is not to overthrow.
The main thing in deciding about early retirement is not to rush the decision. Take your time, consider all of your options and know yourself well before making a big life change. If it is right for you, early retirement can be full of joy and blessing. If, however, you jump into early retirement prematurely, you may be sorry for the rest of your