Been there, done that. Retired 11 years ago at 56 and never looked back. But figure out your anticipated expenses and fund sources first using Dickens' principle: "Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Not much to add here from what's already been said. However, there is more to retirement than just being able to afford it. You seriously need to assess what your time is going to be like when you don't have a job to fill it with. Most of my friends are retired and many have had this problem. My riding buddy retired from the V.A. as a research assistant and, even with cycling, had a hard time finding things to do because he wasn't used to just sitting around. He now works for them 3 days a week, even though he can afford not to. I had a good friend that retired from the Sheriff's Office after 35 years and died three months after his retirement. He was so bored, he began drinking throughout the day and eventually committed suicide because he couldn't handle the inactivity. I worked for 25 years for my county's EMS/Fire Rescue and worked a 24 on 48 off shift with 5 consecutive days off every three weeks (to keep the overtime down). I had no problems with the excess time on my hands since I basically worked 2 days a week during that time period. I retired from the county at 55 and worked 10 years in Corporate America as a consultant, which also gave me lots of time off between contracts.

Retirement is great and it's the best job I've ever had. It's even better when your wife is retired because you can do things together to fill your time with. I will say that if you can afford to retire and you have ways to keep you busy for the day, go for it. You won't regret it.

I have yet to hear of anyone who ever regretting retiring, but have heard of many who regretted not retiring sooner.

(I'll be retiring next August when I turn 65. Looking forward to another cross-country bike trip, this time, I don't expect to be so rushed.)

That the '1%' somehow control our lives is a myth. The reality is that public sector workers have become the new elite and we workers in the private sector have to work longer to support them. Just sayin'.

Absolutely untrue.

I've met lots of them. Most don't admit it, but it's quite clear that they don't know what to do with themselves, and that their lives get smaller and smaller.

ok guys, back off... I do not want to have to move this one to P&R...

That's a good call. FWIW I had/have no intention of continuing. Here or there.

HERE IS THE OVERRIDING RULE OF DOWNSIZING ------THE FIRST OFFER IN THE DOWNSIZING WILL BE THE BEST IN MOST INSTANCES

1) That they have offered at all means they have sized it up and the management thinks they can do without you. <------EMPHASIS
2) Assuming you are senior staff the company paints a good picture on it if you voluntarily leave on your timetable, so to speak. It helps to keep appearances up and rumors down. It helps to avoid that office talk of .........."firings will continue until morale improves."
3) The highest paid are the first to go IF someone from above or below can take over the dutires. Sad but true. Forget the loyalty. In the managerial accounting group everyone is a line item in the overhead.
4) As I said above.........the first offer you receive to take early retirement/firing/severance is almost always the best.

I was the COO for a small but publicly traded company for quite a few years. I had to plan and implement overhead reductions on two occasions. FYI. This is sort of how it always worked, for good or bad.

Too late top think about retirement after you drop dead . .
Am 83, retired 21 years ago.
Do it!

I'd say "where do I sign?". I went out at 60, in my 7th yr. of retirement now, and have never regretted it. But you have to be comfortable with it and people are different. Myself, I wish I could have gone earlier......

Retired at age 53 in 2001. In hindsight, I could have waited 2 or 3 more years, saved some more money, and received a years' severance pay and a smaller pension, No regrets. It's all about time and using it well.

Another college buddy of mine retired last year at age 65. I said, now we're even. I've burned 14 years of retirement with nothing more to show than good memories, so I'm no longer ahead of you as far as screwing around. We both have to work on making good memories for the next 14 years.

Some guy's will never be rich enough. Some guy's know they are wealthy enough.

Retired at 50, hated it (probably not mature enough) and started my own business six months later.

Re-retired at 64 and love it. I have no trouble in finding things to do, including the very important (to me, at least) privilege of giving that very valuable (again, to me) commodity, my time, as a volunteer.

It's all about choosing the right time for you (and making sure the the finances are sound, of course), but the problem is you'll never really know until you try it.

Something that has not been brought up yet and I had a problem with and still do. You are smart enough to figure out if you can afford to or not. The real question is what is your mental make up. What I found when I retired (at 73 and retired from the Army (28 years) and from a civilian company(20 years)) was when I woke up in the morning and realized that if I decided to play golf or rode my bike, NO ONE really cared. I discovered that I WANTED someone depending on me to show up for work. I am still battling with that (am now 75). So much so that I have been hired for 3 jobs and canceled out of 2 of them and worked for 2 hours on the other and quit. All this is MY problem, but just make sure you are ready and not just in love with the IDEA of retirement.

Not here. On Dec 31st I will have been retired for ten years. I'm 73. I was beating my head against the wall trying for the next rung. After leaving work I realized it was an exercise in frustration and was pleased with my decision. Of course you have to be able to retire financially but if you can I suggest doing it. As for not knowing what to do with myself...hah! I have insufficient spare time now. My most important evolution each day is my 90 minutes on my bike or trainer. My wife is a month older and we retired on the same day. She's doing what she loves and also finds little spare time. As is said: "no one, facing death, wishes they had worked more."

Rich

There is so much need in the world, so many people - organizations - charities - churches - needing helpers/volunteers, I just don't understand how someone could say they could find nothing to do Or, alternatively, there are so many places to explore - even close to home - that doing that could utilize time. Or writing, music, speaking, advocating. Whatever.

No problem here finding worthwhile things to occupy my time. I am involved in so many things, I have less available "extra" time than when I was working.

This can be a tough question...irrespective of the financial. I could not have retired at 55 or even 65. I was working at my peak in a very dynamic and challenging profession. Eventually, tho, began losing interest and that's when I chose to roll off. I would not now consider going back to work on a bet, although ten years ago I would not have considered quitting work on a bet. As the wise man said, it's all individual.

There you go. I "retired" from business at 62, but never intend to stop working. Just do something less and different. Right now I work part time as a substitute teacher in one of the local districts. It's much less work, very different, pretty entertaining and provides a lot of free time. That'll work for a while.

Marc

If you enjoyed being a teenager you will enjoy retirement. I was a casualty of technological change in 1994,
21 years retired now and have never regretted it for a minute.

At 58, I would retire if I could afford it and would have no problem filling my time. If I could afford it, I'd do it.

I took a buyout at 58, many times I thought I should have kept working for financial reasons. This summer I had a major physical problem and now have a permanent disabled parking permit, can't walk without pain. I am very happy I had 13 great years of retirement before this happened! I have had arthritis for 30+ years and my condition is a result of that.
I live day by day and still ride every day without pain, don't feel sorry for myself and definitely am glad I retired early!

If you live within your means and don't burden yourself with stuff most people have more than enough money to fully enjoy retirement.

Everyone's different and no one can truly answer for anyone else, but if it were me I'd fall over myself to retire. It can't come soon enough, as soon as I'm financially able (?). I'd love to be able to know that no one's depending on me to show up. I've wasted more than enough on that to last a lifetime, but unfortunately it's not time yet.

My last day is December 4, 2015... will be 64 almost 65 (Feb 5.). Am deferring my pension until March 2016 (as well as SS) but I almost didn't let them finish asking me before I said "YES!!!"

Not exactly certain what I am going to do, but there are lots of options... I figure, this is a great opportunity; I shouldn't look back but just move forward...

Edited to add: A friend of mine was telling me if he waits until 70... with his pension and SS he will be bringing in almost $7,000/mo... my response? "What if you die at 69...?"