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Don’t You Want to Retire ASAP?

Thousandaire asked in this post,

This raises the question;

if you had millions in the bank, would you retire at 46?

I don’t mean retire where you go work another job. I’m talking where you spend the rest of your life pursuing hobbies and spending time with family.

I answered with a resounding HECK YES in 1 second flat, lol.  Wouldn’t most people?  Apparently not Thousandaire.  He comes out and says,

I think showing up to work every day is a healthy and natural part of life, and I’d hate to be without it.

I think that he is lucky to enjoy his day job so much.  I’m not being snarky either – I truly think he is amazingly lucky.  I personally enjoy the other aspects of my life WAY more.  I’d happily fill in the extra 50 hours of my week with my hobbies and time with friends and family.

Here are my early retirement dreams:

  • Most of my friends are 15-25 years older than me, so it will be nice to be able to hang out with them as soon as they retire too.
  • I’d finally have the time during the day to deliver lunches for Meals on Wheels.  Up to this point, I’m only available on Saturdays when they need help.
  • I’d also be able to grow all 3 of my blogs at the same time.  It could be argued that blogging would be my job, but it is my hobby first and foremost.  The income it makes me is AWESOME but I would do it for free.
  • I could run my errands during the day when traffic is nicer and less people are out and about.
  • Continue investing without thinking. This is why I began investing on Robinhood. I want my money working for me without much mental work.
  • I could have lazy days where I watch whatever-I-want marathons and have snack food attacks at will (I’d space these out so I don’t get too unhealthy to enjoy everything else of course).
  • TRAVELING.  My husband and I would finally be able to take a trip during the school year!  Do you know that cruises cost about twice as much from June-August and in December? Tack on all the other costs such as insurance these become very expensive trips. This is one of the reasons I decided to review the best travel insurance companies recently. Me and my friends always travel with insurance coverage and it has paid for itself many times over.
  • I’d finally have enough time to pursue other hobbies that I’ve put aside in favor of blogging.  I want to join a volunteer choir or singing group of some sort.  Maybe we could tour senior citizen centers.  I also have been trying to find the time to finally put together 10 years worth of photo albums.  I would even be able to try out things just for fun – maybe a few dance classes or kick boxing.  It’s harder for me to allow myself to just “try” things right now since my time is so freaking priceless…

I know a few people who define themselves through their part time jobs at home.  I also know a couple of people who have found their dream job and enjoy waking up to it every morning.  I do understand that those people may not want to retire until they physically cannot get out of bed anymore.  More power to them.

For the rest of us though, retirement is the ultimate dream, right?  It is definitely what gets me up on weekday mornings.  I blog because I enjoy it, but I go to my “real” job everyday to keep up our retirement savings, lol. I wish cd account rates were better because I would put more money in that. In the meantime we’ll stick with the money market savings account we have set up.  Here’s to hitting our early retirement goal by age 52 or less!!!

Would you retire at 46 if you could? Read more about how to make passive income using different online and offline ideas.

37 thoughts on “Don’t You Want to Retire ASAP?”

  1. LifeAndMyFinances

    Since I’m currently only 25 years old, 46 sounds too far away!!! 🙂

    I think 35 sounds a little better. And, to answer the question, YES, I would retire from my current day job. However, I would begin to create passive income in my spare time – so technically, I would keep working. It just wouldn’t be the standard 8-5.

  2. Adam - Magical Penny

    It’s easy to say we’d like to do X Y and Z when we retire but there’s a risk that we idolize retirement. If we’re not making time to do it before we retire its unlikely we’ll get around to it when we retire.

    Personally I’d keep working because I want to build something great and have an impact – just doing hobbies and socialising would leave me feeling hollow and that I’ve not really accomplished anything.

  3. [email protected] Balance Sheet

    I’m cringing…46 is only 5 years away for me, not 21 like the pp and age 35 was also way past yesterday.

    I won’t be able to retire at 46, actually that is probably when I’ll start my second career. I am at home with 2 small kids right now, but when they are in school full time, I am hoping to re-establish some kind of a career. But if I could retire at 46, I certainly would to pursue hobbies, voluteer opportunities and travel the country and world.

  4. Nicole

    10 million in the bank and we buy a house in Mountain View, CA and try to find ourselves. Which may or may not involve work, but it does involve a lot of hiking and probably volunteering to teach math and stuff.

    Sadly we’re not quite that motivated to get there before age 46. And by the time we have that kind of money, we will need more, and any kids will be grown up.

  5. Jeff @ Sustainable Life Blog

    I’m not too sure what I’d you. Having time to persue hobbies would be very nice, but my hobbies tend to turn into work (although sometimes I dont get paid for it). If I had millions, I’d probably buy a farm or ranch and run that – It would be something that was a hobby, but also it’d be work. Not too sure what I’d do, but I’d like to have the money to have the option!

  6. BeatingTheIndex

    Sign me up for a “HECK YES in 1 second flat” answer. I have so many other things I would >love< to do with my time! I would also end up with a healthier lifestyle believe it or not.

  7. Everyday Tips

    I have been ‘retired’ on and off since I had kids and I would flat out retire in a second even when the kids are out on their own.

    But, I think you need to have a plan of how you will spend your time. I do know those that seemed lost the first year or so after retirement. So, I think it is just as important to plan what your life will be like when you retire as it is to save the money to reach the goal. It is a tough transition to go from being busy everyday and highly regarded by your peers to suddenly feeling like you are not needed anymore.

  8. Crystal @ BFS

    @LifeAndMyFinances, passive income isn’t considered working, so that completely counts as early retirement, lol. Let me know which passive income streams make the most for you!

    @Adam, I agree that daydreaming about what I’d do is worthless if I don’t have any actual plans, but I already volunteer, blog, hang with friends, etc. I’d just fill me weekdays with the stuff I already do and add in a few new hobbies as I get interested. 🙂

    @Kristia, please don’t cringe. Not many people can afford to retire at 46…I don’t think even me and Mr. BFS have that shot since we’re going for a pension. This was just an exercise in what ifs. 🙂

    @Nicole, it sounds like you would retire if you could but prioritize other things instead right now, which makes sense to me. Thanks for adding your 2 cents!

    @Jeff, I’ll let you know as soon as I find a signup sheet for receiving the millions. I’m going to sign first though. 😉

    @BeatingTheIndex, I think I’d be naturally healthier too! I eat a lot of junk food in my cubicle…

  9. MoneyCone

    I would love to retire early, but will still need something to keep myself occupied! I might keep the job – extra income, even if you are a millionaire, never hurts!!

  10. Crystal @ BFS

    @Everyday Tips, my transition wouldn’t be as harsh, lol. I’m already reminded daily that my job isn’t exactly rocket science (we have such great morale around here…). I actually got a huge confidence boost from blogging since it is something I can be proud of. Good points!

    @MoneyCone, I personally don’t mind the idea of working if it’s something I love, I just haven’t found a job yet that I truly enjoy. Blogging is awesome but even when I start doing it full-time, I cannot imagine ever thinking of it as a job – it’s work for sure, but it’s also a ton of fun. 🙂

  11. Invest It Wisely

    I think 35 sounds like a good goal, but it depends on how much passive income I have at that point, what kind of lifestyle we want to live, and whether we have children by then or not.

  12. DoNotWait

    For sure I would! I love horses, so I would spend most of my time riding them! And I would also travel a little, a trip or two each year, but not more as I really enjoy being home. And of course, I would help out our kids if needed and maybe volunteer somewhere… To me, retirement (with that much money at least) is not doing nothing, but more having different goals. So I don’t think I would get bored.

  13. Crystal @ BFS

    @Invest It Wisely, that’s a big thing that could change our plans too – kids.

    @DoNotWait, I don’t think I’d be bored either! Here’s to finding a couple of million just laying around. 🙂

  14. Jenna

    Heck yes! But I’d probably keep working (in a non traditional way): volunteering, helping out others, and traveling.

  15. Little House

    If I could retire by 46, I don’t really know if I would. I get quite a bit of vacation, like your husband (almost 12 weeks in the summer, 3 in the winter, and 1 in spring – that’s a lot!) I’d be open to working part-time, which would give me enough time for additional projects. I guess I’d quasi-retire which is probably the direction I’ll head when it really is time for me to retire.

  16. Financial Samurai

    Give Kevin 10 years, and I’m pretty sure he’ll be changing his tune, but perhaps not entirely. Sorry Kevin!

    A better experiment would be to see how many your age would click yes/no, and how many people under 25 would click yes/no. How can one at 25 want to retire already if they’ve only been working 2 years?

    Nobody quits a job they love to do, which is why that is all our goals in life.

    Cheers, Sam

  17. Crystal @ BFS

    @Jenna, sounds good to me!

    @Little House, if you are happy, then I would never suggest stopping. 🙂

  18. Crystal @ BFS

    @Financial Samurai, LOL. I wanted to retire before I even started working, so I’m an oddity, hahaha. Of course you’re right, if a job doesn’t feel like work, than retiring seems less pressing. 🙂

  19. krantcents

    No way! I am having too much fun working! Since I will be retiring for the second time, I want to make sure I will have something interesting, valuable and fun to do. My blog is the beginning of that journey.

  20. Mike - Saving Money Today

    Most definitely! But I do think it is important to have a purpose. For me, I love building websites so I wouldn’t have a problem keeping busy. I’d love the freedom that early retirement could bring.

  21. Buck

    Awesome post and way to have a plan for the early retirement. I think many people work so hard to retire, but when they get there, fun in the beginning, but there is a letdown. Brain slows down and without a plan in place, you begin to turn into mush. Once again, being prepared with finances and retirement (even what you will do with all that extra time) are keys to a happy, healthy life. 🙂

  22. Aloysa

    Hell yes! I would retire and do what I want: get a small house in the mountains, get two or three more pugs (I am pug obsessed), blog, write and travel. My work doesn’t define me. My writing does.

  23. Jonathan @ CentsToShare

    If I could retire from “traditional” work, even tomorrow, I think I would. To me, retiring means quitting a job you don’t want, to do something you DO want to do. Retiring for me would/will probably mean switching to full-time blogging, mainly because it’s so darn fun! Work is just a means to an end right now.

    I’d also spend more time learning about car engines, and probably attempting to build one. I love that kinda stuff. 🙂

  24. The Passive Income Earner

    My dad retired at 44. He was burnt out from his company and it was quite challenging for him the retirement phase … All his friends were still working. That’s when I started playing golf since I went with him 🙂 He did a lot of real estate and that kept him busy.

    I am not saying I would quit and retire but I would transition to something different. This is where defining retirement is important. In a company meeting, one employee asked the CEO why they still worked? They have lots of money to retire if they want. It’s all about having something to do and enjoy. Having challenges in life.

    If you say you would stop and retire, then you probably don’t have the right job (or you do but just for the money to pay the bills) … For me, my immediate goal is to be debt free so I can pursue what I want as oppose to retire.

  25. Molly On Money

    About 5 years ago I was able to semi-retire. I was lovely. My life slowed down a bit, I did a ton of yoga and got to know my husband. After about a year we both got antsy- he went off to school and I started a business. I’m envious of that time!

  26. 101 Centavos

    I take it that retiring in this context means being free. Free to do what you want, when you want, and with whom you choose. No more getting up early in the morning, trudge to work, because you *must*. I would not retire as such, since I’m I tend to stay busy in my free time, but my activities would change in focus. I would do what I want to do. So a big “Heck YES” for me as well.

  27. Evan

    I think it is near impossible to give a truthful answer to this type of question since 99.9998% of people will never be in the position.

    I don’t think I’ll ever retire in the truest sense of the word because I would go NUTS not doing ‘something.’

  28. First Gen American

    Hell yeah I would. I would probably spend all my time learning new things. There is this furniture making school near me where the program is 2 years long and you get to learn how to make the super high end stuff by hand.

    I think the key is to be doing all the things you want to do now, so that when you finally retire, you can just reshuffle your time allocation more towards the things you enjoy. I already travel for fun. I already volunteer..I already tinker around my house and cook things from scratch. I can easily see filling my day with the things I already do but instead of doing something once a week or month, I can actually do some things every day.

  29. Funny about Money

    He is amazingly lucky. Also, I think a lot of Americans (and citizens of most developed countries) are socialized to believe that trudging to a job every day is normal. In the past, worse things have been normal (having to get up before dawn to milk the cows; spending the rest of the day in hard physical labor eking out a bare subsistence). These days, at least one has a shot of loving one’s job.

    I’ve had jobs where I thought,”Wow! I could cheerfully do this for the reset of my life!” And I did have a good time on those jobs. But over time, things change and the worker changes. After a few years, I could easily visualize myself doing something else: either another job or, preferably, nothing.

    Retirement is a busy time. My Semi-Demi-Exboyfriend used to say — and continues to say — that he was never busier than when he retired early, in his late 40s. An outgoing person can always find activities to fill her or his time; an introvert will find plenty to do around the house or with one or two volunteer activities or hobbies.

  30. Funny about Money

    oops! make that “for the rest of my life”! Talk about Freudian slips…

  31. Briana Ford

    I love my job and what I do. What I don’t love is working 9-6 M-F. I would retire from that, but if I had the chance to work when I wanted from wherever I wanted, retirement would be everyday 🙂

  32. Kay Lynn @ Bucksome Boomer

    I’m 5 years past that age and not in that position (the money in the bank, I mean).

    I plan to retire from my full time career in nine years, but it doesn’t mean I won’t be working for money.

  33. Money Reasons

    I’d love to travel a lot more! If I were able to retire because of wealth, you can be sure I’d hit a few countries a year (at a minimum)…

    Great list 🙂

  34. Crystal @ BFS

    I replied to every one of you but the internet crashed and ate my huge reply. Instead of pulling out my hair, let me just say I hope every one of you do whatever makes you happy. If that is working, woot! If that is pursuing other hobbies, woot! Thanks so much for adding your thoughts!

    Stupid connection…

  35. Jim Smith

    I don’t think I could retire even with a million bucks. I have some things in my career that I want to achieve first. For some people climbing Mt Everest is their goal, for me its seeing how far I can push myself in the corporate world. Might sound odd to some, but the challenge of building a business (even if I don’t necessarily own it) is something that I want to do for the next couple of years. I’m mid-thirties and maybe in a decade or so I might change my mind, but for now – even if I had 10 million, I think I’d still be heading into the office.

  36. Crystal @ BFS

    @Jim, congrats on having found your purpose! Good luck on your career goals!!!

  37. Erick Glasier

    retirement is always unavoidable. we should enjoy each day and save money for our retirement. *

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