Retiring at 65 is a HUGE Mistake. Retirement Expert Explains​ Why

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The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.

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052 {Thumb}[Edited Sabaree] Retiring at 65 is a HUGE Mistake. Retirement Expert Explains​ Why

[darnellcapriccioso]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[JENNIFERSONIA]

Investing in stocks may appear simple, but selecting the appropriate stock without a proven strategy can be tough. I've been trying to develop my $210, 000 portfolio for a while, but the biggest hurdle is a lack of a clear entrance and exit strategy. Any feedback on this topic would be greatly welcomed.

[NicholasBall]

So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

[renscience]

67 now. Retired at 60. I sabotaged my career many times in lieu of keeping up my health all my life. At 4:00 pm I went to the gym all my working career regardless what my employer wanted. I am infinitely more important than my stupid career!

[tomlewis]

I retired at 63 and 4 months. I had my first heart attack at 62. My wife was diagnosed with cancer 2 months after I retired. Wiped out our retirement savings but she is 14 years cancer free.

[bcarroll]

Financially, I’m set for life. So long as I die by Tuesday.

[Riggsnic_co]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[tahirisaid]

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

[sharedsailing]

My father was a hard working engineer and was going to retire early at 62. He got cancer at 59 and didn't make it to 60. He never got the chance to enjoy the fruits of his labor. You never know. Enjoy life while you can.

[ginatayl]

Retired at 62. No stress, no schedules, no alarm clocks! It's amazing!!

[texputter]

Well said, sir! I retired shortly before I turned 52, 19 years ago, and never looked back. Living healthy and stress free is worth more than all the riches in the world, in my opinion.

[Shirley_P-cc]

I have savings of $1, 000, 000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

[leolo]

I worked a high pressure job with a lot of stress. I slept maybe 4 uninterrupted hours each night unless I self medicated. I had heart palpitations during the day and realized at 52 I felt like a stroke or heart attack were around the corner. I retired 6 years ago at 52 and finally got a full night sleep. Yep, we changed the way we live, but shedding all that stress was worth it.

[AuthorCAL]

Just "retired." What do I live on? 33% SS widow's benefits; 33% investments; and, 33% PT work. ALWAYS invest in your marriage. It's easy to cut and run, but also very costly in many ways! My late husband and I dated and wooed each other throughout our marriage. When we had rough patches (every marriage does!), we worked on it, and kept our lines of communication open. We worked through things and made it to our late 50s with a HEALTHY and HAPPY marriage before his death in 2021. Don't take time for granted. He saved his entire life and never saw retirement. Nothing is guaranteed. Live now and live well!

[micheal_mills]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[PapiChulo-ts]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $400k savings.

[larrymcdonald]

I retired at 57 and I am happy as a clam. I will be 62 at the end of the year and I’ve been supremely happy.

[Ericbabacan]

Recently, I've been pondering retirement. I've also want to put $300K into the stock market but i need an approach that will align with my risk tolerance and financial goals to secure our future..

[logicae]

48, retiring at 50. Really tired of the rat race... I am a corporate executive. I need a solid 6 months of de-compression, just fishing and traveling with my wife and I.

[tedebayer]

My sister did her best to maintain good health, working out daily, keep the weight down, ate properly, so she worked right until her 65 birthday in Aug of 2021. Sold her house and bought a smaller one on the coast. New years 2022 she went to see the emergency department due to dizzy spells, and was given a few months to live, but she made it two months. Retired at 65, made it to 65-1/2. I retired 6 months later at 61 realizing then there are zero guarantees and life isn't always fair. Retire as soon as you are financially able, not financially well off. If you love to work enjoy, if you don't do all you can to get away, its worth it.