Let’s face it, we work for 50 years and then we get a few years of retirement, some more than others, obviously and many employees are presented with the option of early retirement, which is usually a very attractive package. In this short article, we take a closer look at early retirement to help you weigh up the pros and cons.
Enjoy life
Too many people die young and if you are around 55 years old and you are not in love with your career, early retirement is very attractive and you and your partner can visit the many places in the world that you have always dreamed of. We think that time is a valuable commodity and if you are not in financial trouble at this time, why not take the offer and your supper should be enough to provide?
Crunch the numbers
Do you have an investment portfolio? If so, calculate the benefits and if it is close, things usually work themselves out. Be optimistic and everything will work out, as it always has. If you do need daily help, there are affordable self managed home care packages available from trusted care providers, they can be found with a Google search.
Making plans for the future
Retirement is definitely something to look forward to, not a time to be stressed or anxious and one way to ensure that you will look forward to your retirement is to make plans. This is the perfect time to travel and see all those places in the world that you never managed to see. Talk to your partner about retirement and both of you should make plans; you might have a hobby that you don’t currently have time for, or perhaps you would like to take up a new hobby/sport.
Career goals
If you still have career goals, perhaps early retirement is not the way to go; if you realistically have the time to further your career, then you should strive for that goal. Another important thing to consider is whether or not early retirement is on the table. It could be that your employer does not want to lose you at this time and without any financial incentive, retiring earlier than usual might not be the best way forward.
Discuss things with your partner
There are cases where early retirement can lead to relationship issues; it might be that you make a decision without discussing it with your partner and this can cause a rift between you. Make sure that you both air your views; your partner, for example, might have worries about finances and if that is the case, you need to sit down and be open with each other.
If you make it known to your immediate superior that you might be open to early retirement, he/she might surprise you and tell you that early retirement is possible. Many companies are trying to downsize and part of that can mean offering early retirement to long-standing employees.
