Forced Into Retirement Without Warning

This NBR piece got me thinking. Why do people fear retiring early? Is it that we Americans don't know what to do with ourselves if we're not working? Have we been brainwashed into believing that we "are" what we "do" (for a job, that is). Why do so many people assume that retiring from work means retiring from life? My experience is that the opposite is true. I can't tell you how many retirees, young and old, tell me that they had wished they had retired sooner. Most are having the time of their lives. Sure, many retirees don't have as much money as they may have wanted (who does?). But what they do have is time; time to do whatever they want, whenever they want (within reason, of course). Many retirees I meet tell me that they wouldn't give up this freedom just to make a little more money. And most retirees tell me they are busier than ever. "How did I ever have time to work?" I often hear. So those who find themselves unexpectedly downsized should sharpen their pencils and see if they can develop a plan to retire. Of course, this plan will probably involve sensibly, but perhaps drastically, downsizing your lifestyle. However, if you can find a way to make it work for you, evidence shows you won't regret it. And as an early retiree, you'll love answering the "what do you do?" question with the snappy retort: "In case of what?"

Jonathan Edelfelt, Author of Who Said You Need Millions? Retirement Strategies for the Rest of Us. www.WhoSaidYouNeedMillions.com

Jonathan Edelfelt of TX 11:32PM April 10, 2009