why did you retire

Why did you change course, job, journey to retirement, project, and more?

When considering reasons people retire aside from financial factors, several non-financial and personal motivations come into play. Here are some key reasons:

Workplace Changes or Stress: Workplace changes, downsizing, or stress can prompt people to retire early. This includes avoiding unwanted changes in their work environment or escaping a stressful job.

Non-Financial Reasons for Retirement
Health Problems or Disability: Many people retire early due to health issues that make it difficult to continue working. This includes chronic conditions or disabilities that impact their ability to perform job duties.
Desire for Freedom and Personal Fulfillment: Retiring early can provide the freedom to pursue hobbies, travel, or simply enjoy life without the constraints of a work schedule. This desire for personal fulfillment is a significant motivator.

Family Obligations: Some individuals retire to care for family members, such as aging parents or spouses with health issues. This allows them to focus on family responsibilities without the burden of a job.

Pursuing New Interests: Retirement offers the opportunity to explore new passions or pursue a second career. This can be a fulfilling way to spend one's time and maintain mental and physical engagement.
Loss of Job Identity: For some, retirement is a way to redefine their identity beyond their job. This can be particularly important for those whose sense of self-worth is heavily tied to their professional role.

Personal and Emotional Reasons
Emotional Milestones: Many people retire after reaching personal or emotional milestones rather than purely financial goals. This could include feeling ready for a new phase of life or achieving a sense of personal fulfillment.

Avoiding Burnout: Early retirement can be a way to avoid burnout or dissatisfaction with one's current career path. This is especially true for those who feel unfulfilled in their jobs.
Travel and Exploration: Travel is a common goal for retirees, allowing them to explore new places and experiences without the constraints of a work schedule.
Social and Community Engagement: Retirement can offer more time to engage with family, friends, and community, which is crucial for mental health and happiness.
These reasons highlight the complex mix of motivations behind retirement decisions, extending far beyond financial considerations.

Financial reasons:
You can live with sufficient income, less risks in the market, no fees in savings, tax deferred/tax free plans, less expenses, additional side income from savings/annuities and other sources.

Connie Dello Buono
Investment Fiduciary
Helping pre-retirees retire early
for financial freedom, income anytime
hybrid annuities
408-854-1883