Why Do I Want to Retire Early

You shouldn’t read this post if you can answer yes to the following question. If your work stopped paying you tomorrow would you still go into work? Now be honest. If answered, no, then you are a likely candidate for early retirement. As far as I’m concerned that is all I need to know.

There could be other reasons, such as wanting more time with your family, starting a business or even an artistic career, but really what every is looking for is freedom. The ability do want you want when you want without having to worry about getting a pay cheque. To me this is the true meaning of early retirement or financial independence.

I dislike the common wisdom that we need to work until we are 65. Why would I want to waste even a single extra second on something as meaningless to my personal happiness as work? 55 sounds a bit better, but let’s face it. We really want to stop working as soon as possible. So this is what led me to dream about stopping work at 45.

Will it be hard to retire early? Yes, it will take some planning and effort to pull it off, but let’s face it spending an extra 20 years at a job you dislike could be a hell of a lot worse for your physical and not to mention mental health. In that sense, your family and not to mention the health care system will love you if you retire early. You will likely experience some interesting symptoms once you achieve your goal of early retirement. Common symptoms include increased laughter, more energy, increased thoughtfulness and exponential increases to your overall happiness.

Thanks to everyone for coming along on this journey. I value each comment and criticism. Your stories bring more depth to each post and teach me things I didn’t even know anything about some days.

4 thoughts on “Why Do I Want to Retire Early”

  1. Best of luck with your journey! I think you’re right that some people would keep working, even if they didn’t have to (lucky them!). I’m with you that I look forward to the day when working 9-5 become optional.

  2. CD… a question for you. I don’t know if you have a similar pension, but I would take penalties in retiring before 55. I’m certainly not pinning my livelihood on my pension; however, in looking at early retirement, I’m guessing covering the pension shortfall must be accounted for. What’s your plan?


  3. Will,

    Actually my old work pension I took a cash payout on and invested it in a locked in account (LIRA). The details of the transfer state I can’t touch the money before I turn 55. My new work pension is a defined contribution and has similar restrictions.

    So my plan is to save a substantial amount of money in my RRSP and taxable accounts for my wife and me. From 45 to 55 we will draw those down and then tap into my pension at 55. By 60 we will both take CPP and by 65 we will get OAS. So in the end we will have drawn down most of our RRSP money by the time we turn 65. Yet at that point the pension money, CPP and OAS will be providing me with more than enough cash to live on.

    For details read the “How Much Do I Need to Retire” series of posts (Parts I to V). Just use the search function on the top of the first sidebar on your right.


  4. How about finding a way to have so much fun making a livable wage that you never want, or need, to quit. Then, you’ve effectively “retired” from the drudgery you hate, and graduated to a livable life that is continually self-sufficient.

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