What is the best age to retire?

@wykidd (83)
June 30, 2007 8:33am CST
I was hoping to be able to retire when I reach 40yrs old. That would be in 5yrs time. Hopefully by then I can gain Financial Freedom.
5 responses
@rocky777 (353)
• India
13 Oct 07
I think every one should retire at 40. By retire ofcourse, I mean not have to work for a living. I say 40, because then the road is all downhill, after 40. After 40, everyone should be working at what he or she loves to do! As for financial freedom, what is your plan? If you have not made a plan, I would recommend you make a plan now! Check out my website on my profile for my financial freedom blog.
@tigertang (1750)
• Singapore
14 Oct 07
I think the answer depends on what you do for a living and whether you can afford it or not. I mean, if you are a sports star, chances you won't be able to do at 40 what you were doing at 19. However, for most professions, 40 is still considered young. Anyway, the key to when you should retire is perhaps when you are no longer having fun at what you do. CHances are, when you are no longer finding a thrill in what you do for a living,the chances are that you won't be so good at it and thus no longer contributing value to it - hence time to either hang-up your boots or move onto a new profession.
@SHAMRACK (8532)
• India
19 Dec 07
Hi, I would like to retire when if I have good earning in my bank or property that I could live rest of my life luxuriously. The most early it comes it well and good my enjoyment starts then. I am on my work for monetary benefit for my lively hood earning. I am ready to retire at any time only thing is my bank balance should be healthy so as to move a happy long and enjoyable life.
@jam14zen (149)
• United States
18 Dec 07
Seems like that ? would have a different answer for every individual. Most would probably like to retire between 35-40, but how reasonable is that? Most people are forced to work 20 or 30 years longer. Do you have anything saved up? Are your investments diversified so you don't end up like the fools that trusted the Enron crooks...broke and homeless.
@sunshine4 (8708)
• United States
3 Jul 07
That would be fantastic for you if you can retire at 40 yrs old. Unfortunately, I am still working and I am 43:( My hope is to retire at 55. My husband has a plan and hopefully it all pans out for us. We are trying to teach our 18 yr old to invest wisely and save so he can retire at 40.
• Singapore
3 Jul 07
The best age to retire is at 70 years old and above, because at that time all kinds of illness start to invade into our body and we are vulnerable to it. As for how to retire, the best solution is to save money during younger days, if you do not have the habit of saving, maybe you start saving now by keeping 10% of salary into your piggy bank every month. It is up to individuals preferences on this issues. You may not agree to 10%, so be it. In addition, post more discussions on mylot, you will benefit more.