Who retires at 50 today? Probably a lot less people than used to. You may be unaware, but at one time in our nations history, you could buy property, and it was yours. Until the artificial bubble of 1990-2006 in real estate, the price for a home was about half of what it is today (the real estate bubble collapse will bring prices down to affordability again, HOORAY!), and people didn’t buy the newest Ipod and IPhone every 2 months. Factors those in together, work for the same company for 30-35 years (depending on the age you started) and you could easily retire at 50.
My dad retired at 55 and my mom at 44 or so (just before dad). Both of my uncles retired around the age of 50 (younger), though do a little side work from what I understand. I have an aunt who is just over 40 and could have retired 10 years ago if she so chose, but she outspends her ample 6+ figure income. I have another aunt (who married an uncle) who was a multi millionaire by 60. The ability to make money is being taken away which by corporate fascism, or crony capitalism which is the new buzzword today. There are so many loops to jump through, you’re right in your assumption that one can no longer enjoy—or even receive—the fruits of one’s labor, by and large, in today’s world.
Oh, and I don’t care if you believe the study or not, I merely posted it as a point of interest.
Good point. Not ragging on you directly.. I believe many retire at 65a and live to 85.. my, how things have changed..
I easily believe it as I retired 11 years ago at age 50. I owe no one, everything is paid off and I homesteaded my home, took my VA 100% disability tax exempt status on my home and property as well so it can be done under certain circumstances. I realize most people can't do it that way totally but they can work to pay off their home and other big ticket items and stop spending so much on things that they really don't need and can easily live without.
And I still haven't even filed for my SS retirement. All my previous belt tightening measures are paying off nicely now.