These days it’s so common to find people around you talking about retiring early. Retiring by 45.
It is really admirable. That’s what most of us would feel about people who are determined to achieve. But it’s not that obvious. If you browse on the internet, you’ll find countless articles on ‘why should you retire at 45?’ or ‘How to retire by 45?’ Probably those who believe it is such a charm don’t know that it’s actually not that fascinating.
Is it because they want to loosen up and chill out after 45 or are there some other reasons too?
There was a time in my life, when I too was running this race to finish by 45. For me too there were reasons.
I seriously admire both the extreme poles, those who are able to cut down their desires to the bare bones and live a very frugal life and the ones who have been able to strike super rich very early in their life.
I would reiterate, it’s not that obvious. Let’s understand why people actually want to retire early and why we should think a lot before pulling the ripcord too early.
Few of the reasons which I think are:
1. People are working on roles which they feel is not their dream job and continue to remain disgruntled, working day in and day out. And some 10-15 years of being in that state, they feel there’s no point slogging like this for the entire life. Therefore, it’s better to slog harder for few years and enjoy life after 45. So it’s not their passion but their dissatisfaction which is leading them to believe on ‘Let me too retire at 45’ fad.
2. People are impatient. These days it’s not the hard work ideals but instant gratification, which most of us run for, every day. Society does not have that patience to wait for years, work for decades, learn along the way and earn that level of maturity with their pension. So it’s not their passion but their impatience which is leading them to dash to achieve this insane goal of ‘Let me too retire at 45’.
3. People say if it’s 80 what we are going to stay put alive, then with only 15 years after 65 and that too at that helpless physical state, there’s no point retiring at 65. Retiring at 45 is what, would give us years of pleasure.
The point of contention is that if you have decided to retire at 45, would you actually retire once you have secured yourself and are financially free or you would retire irrespective of it.
And if you achieve financial freedom and then retire at 45, is it still that great?
Remember, that your friends and family might not be able to achieve this ‘retire at 45’ goal along with you. After having achieved this state, to have all the time in the world to do anything you want in your life, will your friends too would have that luxury. What would you do alone, with all the spare time at your will? They would like to spend time with their family and friends, when they get free during the evenings or during the holidays, rather than spending time with you. It would actually get depressing. So it’s not only the financial gratification of the work which is the reason we work for, but a lot more than that, actually.
There’s a point in life which we reach when it’s not all about earning money, because we have earned enough. So whenever we reach that stage in our life, be it 45 or 65, it’s not about focusing on ourselves, but helping others.
Instead of focusing to retire at 45, if we are able to retire with financial freedom, irrespective of the age we are able to do that by, it would actually be the gratification in the real sense.