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What Are the Benefits of Early Retirement?
Early retirement is rewarding for those who have spent a lifetime providing for themselves and their families. It provides a number of freedoms, including pursuing another occupation, traveling, or cultivating a hobby. If you have enough savings and financial investments, retiring early gives you the opportunity to live a "new" life that doesn't depend on earning a living.
Pursue Another Career
When you decide to retire early, it doesn't mean you're no longer able to work. Many people retire from one career and begin another. You can retire from a company in which you've spent 20 or 40 years and still have time to comfortably pursue another career that you truly desire. If you're a workaholic and can't stand the thought of not working, early retirement from one career will allow you to comfortably pursue other professional interests, such as consulting or mentoring.
If you love to travel, now is your chance. You can travel just for fun or you can pursue writing opportunities that pay travelers to chronicle their experiences. Traveling to foreign countries will expose you to different cultures and ways of life, or you can spend your time visiting children and grandchildren. Traveling is one of the best ways to reward a lifetime of work and achievement.
Cultivate a Hobby
Many people retire from careers that were financially rewarding yet lacked the substance to fulfill their more meaningful desires. Hobbies such as gardening, playing sports, painting, and dancing are often neglected simply because we lack enough time to pursue them. Early retirement allows you to engage in activities that satisfy a deeper part of yourself with ample time and concentration.
K. Nola Mokeyane has written professionally since 2006, and has contributed to various online publications, including "Global Post" and Modern Mom. Nola enjoys writing about health, wellness and spirituality. She is a member of the Atlanta Writer's Club.