As of today, I’ve only got 176 days left of work until I pull the plug and retire from the normal 9-to-5 of the world of work.  I’m walking away after 35 years of regular employment, at the rather young age of 57.

I get lots of comments from friends and co-workers when I share this information.  After the formal “congratulations”, there’s always the upturned eyebrow, along with the slew of questions.

“Aren’t you a little young to retire?”

“What are you going to do for insurance?”

“What else do you have planned – a part-time job or something?”

So I thought I’d share the answers to these questions here today.

First, yes, 57 does seem a bit young to retire, especially when things like Social Security and Medicare don’t really become available until the mid-60s.  However, that being said, I have always put aside part of my paycheck for retirement (@15%) since my mid-20’s and invested that money in the markets (first on my own and then with a professional).  While I’ve never been one to drive new cars or have the latest gadgets, I’ve tried to live within my means, and my retirement savings have been slowly and faithfully growing over the past few decades.  That fact alone has given me the opportunity and flexibility to hang up my causal-professional wardrobe now instead of later (a fact I am constantly preaching to my own kids about).  I’ve accumulated enough to comfortably retire now.  Now, the word “comfortably” is different for everyone, and while I won’t be cruising Biscayne Bay in my own yacht down in Miami, I’ll certainly have enough to pay all of my ongoing expenses, travel when I want, eat out occasionally, and not fret about next month’s electric bill for the next 30 years.  There’s something to be said for that.

Second, everyone thinks they are going to live a long life once they decide to retire, but I’ve got news for you.  The average lifespan in the US is only about 76 years,  so like it or not, that makes 38 years old the “halfway point” in most people’s lives (let that depressing statistic sink in a little bit).  Its life’s ailments, diseases, and just old age that tend to catch up with a body quicker than one thinks, so I’m anxious to take advantage of the remaining “good years” I have left.  Let’s face it, I’m probably not going to be out hiking or gallivanting around the globe in my mid-80’s (if I even live that long), and one only has to scan the newspaper obituaries to realize that any of us can go at any time (and that those ages are getting more and more in line with my own range).  As of right now, I’m in good health, I can get around, and my mind is clear and sharp.  I’d rather take these future days for myself and do what I want, rather than sit in a cubicle and do repetitive tasks that benefit someone else, hoping something terrible doesn’t happen to me in the next 8-10 years.

Third, there’s the insurance question (Medicare) and Social Security concerns.  Yes, I’m too young to collect on both at the moment.  With regards to insurance, I’ve had it once before on the Maryland Health Exchange (i.e. ACA), so while it may be a bit expensive for a while, it’s still cheaper than COBRA (and I’ll have coverage until I get to Medicare age).  I’ve also tried to control my own destiny (regarding money in my retirement years) with my disciplined investing so that when it came time for Social Security, it was “extra” (as opposed to necessary).  Sure, I’ll pull it when I’m eligible, but it’s not a “make or break” factor in my decision making.  I’m very lucky in this regard, but actually, the luck was made by my own doing, through years of taking advantage of time and compound gains in my investments.

Lastly, everyone asks – “what are you going to do?”  The real answer to that is “anything I want to.”  I’ve got hobbies.  I’ll continue to write.  I can piddle in my garden.  Believe me, I’ll find things to do.  Soon, I’m sure I’ll wonder when I ever had time to work in the first place.  The big draw for me is if I don’t want to do anything, I don’t have to.  My time will be my own – not bound to labor for someone else’s benefit.

Isn’t that really what retirement is all about?

I’ll let you know how it goes after January 1^st, 2025.