Here’s Why You Want Retire at 55

For many, the idea of retiring as early as possible is enticing. It lets you spend more of your life on activities and goals that matter to you, as you aren’t as chained to the traditional workforce. But figuring out the exact age to head into retirement isn’t easy. If you aren’t sure where your target should sit, here’s a look at why you want to retire at 55.

You Can Focus on Your Health

Longevity is often tied to your health. As people age, health problems tend to emerge, and those that already exist have the possibility of worsening.

If you’re working a traditional job, focusing on your health may not be plausible. It can be challenging to squeeze a workout in when you’re at a desk 40 hours a week, for instance. Similarly, eating healthily can be difficult if your workplace lacks appropriate facilities, such as high-quality foods in a cafeteria (or at a nearby restaurant) or a breakroom with amenities like refrigerators.

By retiring at 55, you can fully prioritize your health at a moment where it may matter most. Many people are still fairly vibrant in their mid-50s, and you can use that energy to keep yourself on target or get back on target before certain issues develop.

Plus, you’ll eliminate workplace stress from your life, something that benefits your well-being. Getting enough sleep may also no longer be a challenge, and that can do your mind and body good.

You Can Try a Different Career

For many people, retirement doesn’t mean never working again. Instead, it’s being in a financial position that’s solid enough to make their first career choice unnecessary. They can move on to something they enjoy, even if it doesn’t pay as much as their last career path.

By retiring at 55, you’ll have plenty of time to explore professional alternatives. You can head in a direction that matches your ideal lifestyle, and that ignites your passion, all without having to worry if it pays enough to tackle your bills.

You Can Travel While You’re in Good Shape

Many people dream of traveling in retirement. However, mobility issues do become increasingly common as people age, and some of them may make certain destinations or adventures impractical, if not impossible.

If you retire at 55, you may not have any significant mobility issues to hold you back. Or, even if you aren’t in the best of shape, you could have enough time to improve your physical capabilities and still make it to all of your preferred destinations.

Ultimately, retiring at 55 could be a great move. Just make sure that, if you head in this direction, you plan accordingly. You’ll need a sizeable nest egg that’s designed to cover the rest of your life. Additionally, you’ll initially be too young to tap Social Security or access your retirement savings, at least not without incurring a penalty. But if you can manage it, retiring at 55 could be a boon, allowing you to do more of what you want in life and less of what you don’t.

Is retiring at 55 your goal? Do you think you’ll be able to retire at 55, or is another age more likely? Share your thoughts in the comments below.

Read More:

• 5 Ways to Ensure You Don’t Outlive Your Retirement
• Top 5 Hacks for Your Early Retirement Plans

Tamila McDonald

Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.