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Advantages And Disadvantages Of Early Retirement Essay

Benefits Of Early Retirement

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Benefits of Early Retirement

Early retirement is not such a bad idea, but only if itÕs affordable.
Today, people who begin this process feel confident that they can live out the
rest of their lives comfortably. Still being young enough to enjoy what is
earned is another good reason why someone might want to advance into retirement.
Also, having good health is another popular reason why it is a good idea to
retire early. After working hard, one should reward them self by enjoying
what they have worked for.
Either off benefits or money allocated throughout the working years,
these retirees enjoy what they worked for. Not only do they feel relaxation and
enjoyment, retiring early also gives them a sense of accomplishment. Purchasing
previously desired land or traveling to a country never visited before are just
some examples in which early retirees enjoy the money that was saved. Since the
assets are all earned, spending this bonus makes one feel proud for what they
worked for and that the working years didnÕt seem like a waste. Something
simple such as being young can make someone retire early.
Retiring early just for being young also has their advantages. This way,
the retiree can explore more areas and get to stay longer because they have more
years to enjoy than an ordinary retiree. Also, when someone gets older their
health slowly diminish and their ambition to go out and travel also vanishes.
Finally, having good health while retired pays off. One would tend to
enjoy retirement more if their health were in decent shape. Irritating injuries
and irksome illnesses certainly keep the retiree limited while being retired.
Ambition to travel and going out and doing things lowers when the health is low.

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MLA Citation:
"Benefits Of Early Retirement." 14 Mar 2018

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Retirement         Being Young         Good Health         Benefits         Bad Idea         Good Idea         Enjoyment         Accomplishment         Complications         Advance        

Having bad health makes retirees not enjoy the full effect of retiring. One is
supposed to enjoy what is earned and shouldnÕt have any complications during
In essence, retiring young seems to be the way to go. If you have your
health while you still have many years to enjoy it, and the ambition to follow
through is there, why not do it? You can always come out of retirement.

It would be understandable if some people’s definition of the American Dream included early retirement. Perhaps certain American dreamers look to move to a warm locale, near their families, or near a great golf course to experience the glory of an extended retirement.

Early retirement isn’t possible for all workers, but for those who have the choice, what are the potential advantages and disadvantages of early retirement? Are there any disadvantages?



A landmark study led by University of Sydney found that people become more active, sleep better, and reduce their sitting time when they retire.

“A major life change like retirement creates a great window of opportunity to make positive lifestyle changes—it’s a chance to get rid of bad routines and engineer new, healthier behaviors,” the lead researcher said.

The data revealed that retirees:

  • Increased physical activity by 93 minutes a week
  • Decreased sedentary time by 67 minutes per day
  • Increased sleep by 11 minutes per day
  • Stopped smoking (50 percent of female smokers)


The earlier you retire, the more years you’ll have before health issues begin to limit your mobility.


If you feel boxed in to your current career, early retirement may provide the opportunity to break away and move into a field you love or even start your own business. Sooner is better than later.

And if you want to be your own boss, you’ll have more time to get your business off the ground. A business you launch at age 60, for example, could easily keep you intellectually challenged for another 20 years or more.



In May 2013, the Institute of Economic Affairs published a report on retirement. According to the report, one disadvantage of early retirement is that it can increase the chances of depression and despair by 40%.

It has also increased the prospect of developing at least one physical disorder by approximately 60%. The report is vividly explained by the BBC.


Another disadvantage to early retirement is the fact the sooner you start to take Social Security, the lower your benefits will be. For example, if you were born in 1960 or later and you start taking benefits at age 62, the earliest age at which you’re eligible, your monthly benefits will be 30 percent less than if you wait until age 67.

For each year you postpone from age 67 to 70, you’ll receive an additional 8 percent of your monthly benefit. After age 70, there’s no further bonus for delaying.


If you retire at age 62 and live to 90, your IRAs and other savings will have to cover you for 28 years. If you retire at 70 and live for the same length of time, however, your savings will only have to last for 20 years.

Working longer also means you’ll have more years to contribute to a 401(k) or other retirement plan, and the money in your plan will have more time to compound.


Unless your ex-employer provides it, you’ll have to pay for health insurance on your own until you’re eligible for Medicare at age 65.


Many retirees find one disadvantage of early retirement is the tough transition from the daily routines to the unstructured life of retirement. They may want to return to work; unfortunately it isn’t easy to get back into the workforce once you’ve left it, voluntarily or otherwise.

A 2012 report by the U.S. Government Accountability Office noted that people over age 55 generally need more time to find new jobs than their younger counterparts do.


This means they will have limited time to spend with you, and they may still talk about work while you are around. In some cases, you might find yourself out of place in these conversations. This has more bearing on the emotional, psychological, and social aspects of early retirement rather than physical and financial aspects.


For those people out there who love numbers, advantages of early retirement scored a three, and the disadvantages of early retirement scored a five. However, one could assume that even though the disadvantages of early retirement scored higher than advantages, many would take the risk. Especially once they know what to look out for.

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