I retired in 2000 at the age of 60. Wife said she loved her job and wanted to keep teaching. Had a couple of offers to join a couple of tech start ups but they didn’t look like either had a long-term workable concept. Tried consulting part time but found it interfered with my retired life style. After two years my wife finally realized that work was less rewarding than retirement. My backup was that I had somewhat of an in-demand skill set and had been able to find consulting work in the past.
One problem some have with retiring early is you don’t get Social Security and Medicare until 65 and for example at the age of 60 a healthy individual with health insurance has a median life expectancy of almost 30 years. I ended taking out more than 4% of investments the first few years but fortunately have been able to make more on investments than I spent.
I have never held much stock in a 4% rule that is based on one single retirement age and one life expectancy. But we both have scraped by through college with minimum wage jobs and know we can adapt to much lower incomes if we have to and still enjoy life. Toured most of Europe as a French resident alien in the 60’s with a 25 HP Renault 4 with a used tent and sleeping bags.
And now where in the process of moving into one of those exorbitant priced University connected Continuing Care Retirement Communities. There supposed to be more comfortable than a tent.