Retirement. Certainly has changed over the generations. My grandfather worked for the same company for over 40 years until he retired. My father worked all his adult life for the same company.
Myself, I was fortunate to work for the same company until I retired. And in my case I was able to retire at 49 years old with a 30 years and out plan. Retirement from 49 to 65 years old have been without doubt the best years of my life. Full time rving certainly has been a major part of it. I have lived more, traveled more, and had more experiences & adventures after retiring than all of my earlier life. The alternative would be to continue to work until 65 than retire. I can't imagine having done that.
But I digress... Retirement. For the generations of my daughter, and certainly my grandkids... They will probably never work for one primary company most of their life and retire from it. Let alone retire with 30 years and out at a younger age. The younger generations will work for several companies and be destined to work until they are 65+. Of course, this is a major benefit to companies not having to pay retirement benefits, reduced benefits, and deferred benefits.
I consider myself fortunate to be of my generation... some of the last to get a 30 years and out retirement especially at a younger age. At 49 years old, it was safe to say that the best years of my life after 49 was going to be the next 16 years... with regards to Health and physical ability. I didn't want to spend those 16 years working the same old same old of the previous 30 years... waiting to be physically use up at 65.
Doing the math. Just based on money. Early retirement gives you less per month after 30 years verses the 46 years I would have worked for. Total of 16 years of advance benefits verses the extra monthly benefits after 65... Well, I would be 80 years old before the total of my advance benefits would have equalled the higher benefits from 65-80, and I'd be going into negative status comparing the two. This doesn't even take into account that those 16 years of advance benefits would certainly have more buying power, 49-65 (inflation) than the increased benefits from 65-80 year 's old. (Hope that is understandable).
So, there you have it. Perhaps with proper planning early retirement may still be possible for you too. Certainly relying on companies for retirement is not what it use to be. Plan ahead as if you could not rely on companies. Even if you have a retirement from a company, they still have found ways of circumventing that commitment, or reducing your overall benefits... monitary and health benefits. So plan accordingly.
I'm glad I got out early before I start loosing something, which now certainly seems probable.
