Why Retire Early?

EARLY RETIREMENT

Early retirees have many different reasons for retiring. For myself, I wanted freedom from the stress, time commitment and responsibility of teaching. Working in education is stressful and seems to become more demanding each year. Most educators have little say over their daily schedule or the school year calendar, and I honestly was tired of the "grind." I wanted the freedom to decide what my day would look like, and the ability to travel when I wanted to. 

Deciding when to retire can be difficult. Freedom is great, but we also want financial security. Balancing freedom and security is challenging, but I decided these two elements were only part of the equation. The third factor you should consider is health. Every additional year you wait to retire, is a year of good health you could be actively enjoying in retirement. Financial advisors will almost always tell you to work another year, but health is the risk that they don't factor in. I decided I wasn't willing to give up 10% or 20% of my healthy active years for more financial security. 

Everyone has to make that decision for themselves, but health should always be part of the decision making process.

Here is my list of ranked reasons for retiring early:

1. Taking advantage of life experiences: Retiring early can provide more opportunities to travel, learn new things, and take part in experiences that may not have been possible while working full time.

2. Enjoying good health: Retiring early while in good health can enable individuals to enjoy their golden years with good health and energy.

3. Pursuing personal interests: Early retirement allows individuals to pursue their hobbies and interests that they may not have had time for while working.

4. Reducing stress: Work-related stress can have a negative impact on one's physical and mental health. Retiring early can provide a much-needed break from work-related stress.

5. More control over your life: Retiring early can give individuals more control over their time and allow them to live life on their own terms.

6. Spending more time with family: Retiring early can provide the opportunity to spend more quality time with family and loved ones.

7. Pursuing a business or other employment interest: Retiring early can provide the opportunity for individuals to start their own business or pursue a different career or part-time employment...