Saturday, October 1, 2011

Early Retirement: The Only Criterion that Matters

Question: Can I retire early?

Response phrased as another question: Do you have kids (or plan to)?
If yes, no you can't.
If no, yes you can.


Barak Strickland said...

or another way to phrase the you have aging parents?

Syed Rashid said...

Ram, just perfectly pointed out. Kids change everything.

Barak, aging parents may not be a retirement deferring issue. Many people have parents who are okay living within their retirement resources. But sure, some do need financial assistance. But many many more need time and attention which you can provide if you are retired from work.

I have 2 kids - 7 and 4. I love them dearly and cannot imagine life without them, but if I do not have kids, I would have retired may be a couple of years earlier. I am 40 right now. Living and working in San Diego. With kids going to school, you just can't do so many things.

Like it was said in Eat, Pray, Love, "having a kid is like getting a tattoo on your face - you have got to be committed"

Mike said...

I disagree but cannot verify it from personal experience (childless).

However, I see MANY couples that use their children as an excuse to give up on their dreams or on life in general. My wife and I get many snarky comments when we travel "Oh well, it's easy for you.. etc.. blah blah"

It's extremely annoying when often these people have more wealth and/or better health than us and all the time in the world due to their cushy jobs.

As I often say:
a) then you shouldn't have had kids or
b) give me a break.. explorers have children, astronauts have children, etc.. quit whining and blaming your children

burntout said...

I'd have to respectfully disagree. I think it is possible to retire early even if you do have kids. Infact it was after having a kid, that I truly realised how much I needed to control my own time, and why early retirement was a great way to get there.