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EARLY RETIREMENT, GOOD OR BAD?

How many times have people trudged home from the office wishing they could just walk away and never go back? Unfortunately, unless they wan the lottery or inherited a lot of money, the chances of them retiring young were pretty limited. To make matters worse, finance is the biggest issue and in order to retire earlier than usual, it is important that people are confident that they can support themselves and their families for the years they will not be working. So what are the pros and cons of early retirement?
Well, to start with, retiring early means that the retirees will generally be in better health to do all the things that they really want to do, and to do them as long as they please to. Many people who retire at the usual age suffer from distinct illnesses shortly after they retire, and even die. So, whether it is pursuing new leisure activities, taking up hobbies, travelling around the world or getting a degree, retiring younger should be about giving themselves more freedom to do all the things they have not been able to do while they were at work.

Secondly, if appropriately planned and carefully implemented, early retirement can bring about a humane and beneficial workforce reduction. Cost cutting can be achieved without economic, social or psychological hardship, while at the same time the institution is left in a better competitive position. Employers must limit the early retirement option to specific employee groups and communicate any plan with reasonable decision time; and employées must be sure they have resources to sustain themselves financially during retirement.
On the other hand, financing an early retirement is always a serious matter as well as coping with too much free time. Many retirees do not think these two factors through well and may soon find that the money available to them via pensions is not enough to sustain their kind of lifestyle for very long....