Retiring early is not an easy decision to make. Once the decision becomes final and executed, the die is cast. Four years ago, I struggled on whether retiring at the age of 52 was right for me. I still had eight more years to go--eight more years of making decent money. The decision wasn’t made overnight or in a week’s time. It was about a year in the making.
After working my way hard for 23 years, I had a fairly good position and had earned the respect and trust of both my colleagues and supervisors. I was tasked with sensitive assignments and hardly ever had to be checked if I was doing a good job or not because they know I do. My bosses just had to skim through the work I’d done, did a little tweaking here and there and signed it off with confidence. It was a position most everyone at the entry level would want to be in someday. I was born of a poor family and always had to strive hard and now, my career was at its peak and afforded me to have the things that I needed and wanted (though I never really wanted much).
What made me finally decide to go on an early retirement? At the time, I had a housing loan I had been amortizing for nine years out of 19. I had credit card debts, but they were very few and far between, and always paid in full at the payment due date because I am averse to interest charges. Except for those, I had no debts, and I could pay my loan off should I retire. It was my second year of being eligible for a pension. Should I retire, I can take with me my company’s health plan though I would be paying the whole insurance premium including the company’s portion which they were paying for me being their staff. I had medical insurance for my mother. I had saved some. These seemed to be great reasons to enable me to go on an early retirement. However, these were just secondary.
More than anything, I was mentally exhausted and worn out. I wanted to claim my life back. Yet, I wanted the money that I would still be earning in eight years which would be pretty good. Although I had no kids to support, I was helping the economically challenged members in the family, which to me was a mission for I thought I was blessed comparatively speaking. I wanted to still be of help to those who needed my help, yet, I would be doing myself a great disservice if I was to think of others more than I would think of myself given the state of my corporate sanity (or insanity). I felt like a factory machine churning all day long, and the 23 long stressful years were taking their toll on me.
My mind went into a tug-of-war of “Should I” and “Shouldn’t I” retire. One day, it dawned on me that I would lose good money, yet, what good would it do to me if I was worn out to the point of not having a real life and being in a state of ill health? I wanted to enjoy the fruits of my long hard labor while I am young and still able to do it. I wanted to travel and see more places while I can. I wanted to read all the books that I missed; to enjoy my garden, to sleep in, to cease being a daily road warrior. It all boils down really to a simple choice, and why was I agonizing over it? I offer no further excuses for wanting to retire early, for to me, these were enough.
Now, four years after that “fateful deciding moment,” I look back and think if I made the right choice. It was one of the most courageous decisions I ever made. I have no regrets. My life is still not exactly perfect despite my retirement, but I never expected it would be. I am fully aware that retirement doesn't promise you a rose garden. I just feel I am more in control of my life now. If my life then was greatly affecting others in a positive way, I have not lost that perspective and mission, and I hope that by writing my thoughts, I still will be able to impact others in the same way.
Early retirement isn’t for everyone; people have different circumstances and life situations. If you are still at the stage where early retirement is not possible and feasible, just hang in there; if despite that you still want it for some good reasons, weigh your options and do what your heart tells you. Just don’t say I encouraged you if it doesn't work out for you.
Quote for today:
"Retirement: When you have given so much of yourself to the Company that you don't have anything left that the Company can use."
- Unknown wise person
After working my way hard for 23 years, I had a fairly good position and had earned the respect and trust of both my colleagues and supervisors. I was tasked with sensitive assignments and hardly ever had to be checked if I was doing a good job or not because they know I do. My bosses just had to skim through the work I’d done, did a little tweaking here and there and signed it off with confidence. It was a position most everyone at the entry level would want to be in someday. I was born of a poor family and always had to strive hard and now, my career was at its peak and afforded me to have the things that I needed and wanted (though I never really wanted much).
What made me finally decide to go on an early retirement? At the time, I had a housing loan I had been amortizing for nine years out of 19. I had credit card debts, but they were very few and far between, and always paid in full at the payment due date because I am averse to interest charges. Except for those, I had no debts, and I could pay my loan off should I retire. It was my second year of being eligible for a pension. Should I retire, I can take with me my company’s health plan though I would be paying the whole insurance premium including the company’s portion which they were paying for me being their staff. I had medical insurance for my mother. I had saved some. These seemed to be great reasons to enable me to go on an early retirement. However, these were just secondary.
More than anything, I was mentally exhausted and worn out. I wanted to claim my life back. Yet, I wanted the money that I would still be earning in eight years which would be pretty good. Although I had no kids to support, I was helping the economically challenged members in the family, which to me was a mission for I thought I was blessed comparatively speaking. I wanted to still be of help to those who needed my help, yet, I would be doing myself a great disservice if I was to think of others more than I would think of myself given the state of my corporate sanity (or insanity). I felt like a factory machine churning all day long, and the 23 long stressful years were taking their toll on me.
My mind went into a tug-of-war of “Should I” and “Shouldn’t I” retire. One day, it dawned on me that I would lose good money, yet, what good would it do to me if I was worn out to the point of not having a real life and being in a state of ill health? I wanted to enjoy the fruits of my long hard labor while I am young and still able to do it. I wanted to travel and see more places while I can. I wanted to read all the books that I missed; to enjoy my garden, to sleep in, to cease being a daily road warrior. It all boils down really to a simple choice, and why was I agonizing over it? I offer no further excuses for wanting to retire early, for to me, these were enough.
Now, four years after that “fateful deciding moment,” I look back and think if I made the right choice. It was one of the most courageous decisions I ever made. I have no regrets. My life is still not exactly perfect despite my retirement, but I never expected it would be. I am fully aware that retirement doesn't promise you a rose garden. I just feel I am more in control of my life now. If my life then was greatly affecting others in a positive way, I have not lost that perspective and mission, and I hope that by writing my thoughts, I still will be able to impact others in the same way.
Early retirement isn’t for everyone; people have different circumstances and life situations. If you are still at the stage where early retirement is not possible and feasible, just hang in there; if despite that you still want it for some good reasons, weigh your options and do what your heart tells you. Just don’t say I encouraged you if it doesn't work out for you.
Quote for today:
"Retirement: When you have given so much of yourself to the Company that you don't have anything left that the Company can use."
- Unknown wise person
