Quote:
Originally Posted by bizaro86
Being able to retire 10 years sooner than they otherwise could is something I bet most people would like.
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Retiring 10 years earlier in the 50s is achievable for most people. But is it desirable? To me there's no such thing as enough savings, your spending goes up and down with the size of your nest egg. If you retire by choice ten years earlier, you lose 10 years or earnings and your nest egg will be stretched ten more years, double whammy.
What makes sense is if you have a DB plan working for the government mostly, you cannot accrue anymore pension after a number of years, then you can either retire and receive 50% of your salary as pension, or stay on and earn 100% of your salary. The difference is 50% and much less after tax, so it'll make sense to retire early.