3 min read
When are you thinking of retiring? With many pre-retirees reassessing their lives and priorities in the wake of the pandemic, there really is a seismic shift for many people towards achieving life balance. People need a plan to flex with their changing aspirations – it has become more about living life rather than going through the motions of the daily grind.
With earlier retirement a serious consideration for many seeking balance, a quarter of those sampled who aspire to retire early feel that age 60 is the optimum time to do so1.
What really makes you happy? If you are planning to celebrate your 60th birthday by saying ‘goodbye’ to working life, it’s good to know that 68% of people report an increase in overall happiness as a result of retiring early, with 44% of early retirees reporting their family relationships improved and 34% citing improvements in their friendships. From a health perspective, 57% of early retiree respondents report a boost to their mental wellbeing, with 50% believing their physical wellbeing has improved.
Nearly a third (32%) of people who retired early or plan to do so are driven by the desire ‘to enjoy more freedom while still being physically fit and well enough to enjoy it.’ Other factors driving people to pursue early retirement include financial security (26%), reassessing priorities and what’s important to them in life (23%), wishing to spend more time with family (20%) and finding they are either ‘tired or bored’ of working (19%). Stress is also a contributing factor that 19% of respondents are keen to eradicate.
With a sizable 24% of people returning to work after retiring because they experience financial issues, careful planning is essential. Interestingly, 47% of retirees found that their finances worsened and only 22% felt they benefited financially from their decision to retire early.
People cited steps toward making early retirement achievable like paying off a mortgage (30%), saving little and often (29%), saving extra when they receive a pay rise or bonus (19%) and receiving an inheritance (14%).
We are here to reassure you that happiness does not need to come at a cost when retiring early. Although it is very important to be realistic, with meticulous planning and careful consideration, we can assess and develop a robust plan to align and flex with your changing requirements and priorities.
Financial freedom is what many strive to achieve, though not all of us know how to get there. This is where we come in.
Get in touch today and book your initial, free, no-obligation meeting so we can show you the way. You have nothing to lose and potentially lots to gain! Send us an e-mail to email@example.com, call us direct at +41 78 214 84 32, or fill in our contact form
1Aviva, Dec 2021