What age should you start retirement?!?!!?

Question

I was thinking as early as possible, but. . .

Answer 1

It is never too early to start saving, in fact ‘retirement is one of the greatest cons of all time.

What you really want, what everyone really wants is Financial Independence.

Someone has set up a standard game plan for everyone. It basically goes as follows:
Age 0-5: Baby – Grow Up
Age 6-17: Child – Go to School
Age 18-21: Student – Go to College
Age 22-65: Adult – Work
Age 65+: Senior Citizen – Retire and Die

Retirement usually means that we are no longer dependent on work for our income and daily living needs. Our income is independent from our occupation.

So what you really want is ‘Financial Independence’ much earlier than scheduled for us in the standard game plan. In fact maybe the game plan we really want is more like:
Age 0-5: Baby – Grow Up
Age 6-17: Child – Go to School
Age 18-21: Student – Go to College
Age 22-39: Adult – Work towards Financial Independence
Age 40+: Financially Independent – Enjoy Life

So now that we have a goal of Financial Independence, we need to set a timescale to reach that by and a means of reaching that goal.

In this context we are generally talking about a savings and investment plan that will give us a sufficient amount of money to live off for the rest of our lives.

We will need to equip ourselves with the necessary knowledge and tools to make this work now.

To be successful we will need patience, discipline, and wisdom. But most importantly we need a plan.

It may prove expensive to acquire that much needed wisdom on our own. Learn by other peoples mistakes. Learn from other peoples successes. Read some books. Visit our local book store and find books that we like and feel comfortable with.

Some of the titles I have on my bookshelf include:
One Up on Wall Street by Peter Lynch
How to make money in Stocks by William J. O’Neil (Founder of Investor’s Business Daily)
The Millionaire Next Door by Thomas J Stanley and William D Danco

Check out web sites like fool.com and yahoo finance.
Investigate trading strategies with a proven track record over 3, 5, 10, and 15 years.

Pick something that we understand, find easy to use and will help us realise our goals. Pick a strategy where we can take responsibility for your investments and be in full control of our capital.

Systems like the Stocks Monthly system (which has generated an average return of 49%p.a. over the past 15 years) are definitely worth investigating once we are up to speed with the nuts and bolts of investing.

Answer 2

first of all what is retirement. I retired from my business at age 54. But now do other things, some make money so don't consider myself retired and what I do is something enjoyable so hope to continue as long as possible maybe 94 or so. Some very old people work right up until they drop over George Burns is a good example
While you are not retired find something to do for when you "retire" .

Answer 3

I am not an expert, but am 59 years old and never planned for my retierement and now am very sorry. It is my "opinion" that before you get out of High School, you should be thinking about how to plan for retirement. At the age of 18 is not too soon to start planning. Consult a CPA or an estate planning counselor for more information. A whole life insurance policy should be opened early while you have good health and keep it no matter what so you won't have to re-qualify healthwise later.......When you get married, you should start a revocable living trust etc......CLA ESTATE SERVICES is one such source....I am not a salesman neither am I a cpa or affiliated with any such business.......just common sense information//G

Answer 4

When you can pay your bill without a job till the day you die. The earlier you start investing for your retirement, the better your chance of retiring early.

Answer 5

should you start and fund your IRA at age 20 through30 yrs old then leave it alone till you are 65 . you would have a conservative
1.75 million$. costs about 170$ month to fund your IRA. OR yu can do like some 65% people retiring and pray to have no problems living on SS.
start on Tuesday 29th 2007

Answer 6

The early you invest, the longer your retirement savings have time to grow. Read this article.

Answer 7

with the first check would be the best answer

Answer 8

yes, i agree with you, as soon as posible, and enjoy the life

Answer 9

Me too.