Posted by
Retired
16 yrs ago
It appears that we are encouraged to work longer and retire later in life given that fertility rate is reducing etc etc. Some of my friends think that working until 55 for women is ideal and some like to retire earlier. I think mid or late forties is a good age to stop work and focus on your hobbies, family, etc. What age do you think works for you?
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It's so difficult to answer that because you have to consider your health, your saving and if you have a partner, you have to consider his views. Can you provide more details about your situation?
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Oh, my situation is that I retire at 50. Would have worked a couple more years longer if my health was not giving me some problems. I seem to be a late retiree as a number of friends and relatives I know retire between 35 to 48. However, I do have friends who intend to work until 55. Yes, it does depend on all those factors you mention and more. You know, if I had been more careful with my expenses, I would have retired earlier.
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i wouldnt retire as i think working keeps me energetic (of course provided that it's not too stressful)~
but i do wanna enjoy my life.. so i think it'll be better to have my life and work stable at the age of 50, then i can put off work sometimes and travel around~
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i think there's no definite answer as it depends on the individual and the situation one is caught in. there are too many considerations for this. its impossible to come up with one definite answer
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i would agree that 55 would be a suitable age to retire.
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I am glad I am retiring at 50 because I am still energetic enough to pursue my hobbies. I intend to go to Kau Sai Chau once every week (on a week day) and play golf. I have to carry my clubs there and think it'll be difficult to do that when I reach 55. Also, I can catch up with my reading, movies, language studies and some travel which I had to cut down a lot when working. I'll like to take up a new hobby too - not decided. Also, volunteer work will give me some interaction which I will miss from not working. Hopefully, I remain mobile and healthy for the next 25 years. I can see I will have to cut some of the mobile sports by the time I reach 65 or so. When you think of it, that's not many years of just enjoying hobbies and so, I think 50 is the right age for me to retire.
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It is good to work out the figures with a financial planner. Madtown, you are so fortunate to find a reliable one. A lot of people ask what is the magic number - USD500k, USD 1 million, USD 2 million etc are just numbers. One has to review one's age, dependents, lifestyle, where we are retiring in, what assets we own, etc. Preparing for retirement is hard work because there may be no turning back. I wish someone had educated me on this when I was in my twenties so that I can start preparing then.
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