How much would they have made when they reached their 40s?
Retiring early has many pitfalls, because your savings have to last much longer and life can throw you many curve balls along the way. And you stopped contributing to your
CPF at too young an age.
It is not unheard of that so-called high flying executives who retired early trying to look for jobs again when an economic downturn wiped away their investment. And they have little or no
CPF monies to fall back on.
If you cannot handle the stress, you should look for a less stressful but lower paying job. To totally cop out of work early in life is a big mistake.
Many engineers are still working late into their lives because they still they can contribute and the companies still value them. Believe it or not, in some companies, fathers, sons and daughters are working side by side. Financial independence is not an issue here.
Don't make the mistake of retiring early and getting stressed everyday worrying whether your savings is enough. Worrying, thinking and cutting back your expenses day by day. First no car, then the maid has to go, next downgrade to smaller housing etc... When we should be savouring the fruits of our labour.
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Originally Posted by Unregistered
You're right. Retirement age is very much personal. There are high flyers in the finance world who have made a lot during their career such that they are retired in their late 40s. They also decided to retire early as their job were highly stressful. The high pay comes with the high stress. They no longer find meaning in their work as it took away a lot of time from their children and old parents. They find themselves a lot happier after their early retirement. To them the additional wealth is no longer worth the extra time and stress.
Other professions however very difficult to retire early as they don't earn enough to retire early. Those in the manufacturing and engineering line usually have to retire until they are in their 50s, some even in their 60s.
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