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3 Reasons to Retire As Early as Possible – The Motley Fool




Retiring early can be a peep of yours – and one you assume you will never realize. However, 37% of workers have retired earlier than they had planned, per retirement center, and it can also happen to you.

Whether you plan to retire early or not, here are three reasons to consider doing so. See if they apply to you.

  We see the words retire in followed by a colon and below are the words 15 years and 5 years, and a red pencil that has crossed out the 15 years and circled the five years. 19659004] Image Source: Getty Images. </p>
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<h2><strong>  1. Enjoying pensions as much as possible </strong></h2>
<p>  Not only do many people not only know when to actually retire, most of us also have no idea how long we should live. It is a sad fact that many people die earlier than expected. If you sit on retirement longer than you need, you can end up cutting it short, with relatively few years off to enjoy. </p>
<p>  The sooner you go to retire, the sooner you can get around to all the fun activities that you have long intended to do, such as taking a few months to drive across the country, checking out local landmarks and eating places, Go through old cities in Europe, and make long-term visits to friends and relatives who are far away, planting a killer garden, learning to sail or golf, or taking history courses at a local college. While you are younger, you are probably healthier than you will be later, and can spend and enjoy your money more, since you are more able to travel and enjoy recreation. </p>
<h2><strong>  2. Because you can </strong></h2>
<p>  For many people, another good reason to retire early is that they can. If you haven't taken the time to figure out how much money you need when you retire, and how well you've grown your egg, you won't even know if you can retire early or not. </p>
<p>  You can use the flawless but still helpful 4% rule to help you estimate the amount of annual revenue you can turn from the amount you have saved and the amount you expect to retire. The rule suggests that you can withdraw 4% of your own egg in your first year of retirement and adjust future inflation outcomes to make your money last 30 years. The table below shows how much you can withdraw in your first year of retirement from witch eggs of different sizes. </p>
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Retirement Nest Egg

4% Payout

$ 100,000

$ 4000

$ 250,000

$ 10,000

$ 500,000

$ 20,000

$ 750,000

$ 20,000

$ 750,000 $ 30,000

$ 1 million

$ 40,000

$ 1.25 million

$ 50,000

$ 1.5 million

$ 60,000



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