Early retirement: What Yahoo Finance viewers have to say

The Federal Reserve Bank of New York's recent report revealed that 46% of Americans plan to work after the age of 62, a notable decline from the 55% recorded in 2020. However, this news prompted a wave of reactions from Yahoo Finance readers, who shared their thoughts and perspectives. Yahoo Finance's Kerry Hannon delves into the details of viewers' commentary regarding this shift in retirement plans.

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This post was written by Angel Smith

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Turning now to a topic on many Americans minds retirement.

Earlier this month, we shared new data from the New York fed that more and more Americans do not expect to work beyond their early sixties.

Well, nearly 2000 Yahoo finance readers jumped online to share some opinions.

And here to highlight some of those thoughts is our very own carry, hand and carry.

What did they have to say?

I know.

Good morning.

Well, they were not amused with me saying that it wasn't particularly realistic to think about retiring before 62.

These people were saying, hey, come on, we hated our job.

There are like three common themes.

One was hated my job.

Best decision I ever made to retire early.

The second theme was that, hey, you know, I had a traditional pension.

It was ok.

I could step away.

Now, remember only about 11% private employers now offer a traditional pension, but they had that security so they could with social security step away.

And, and the third theme, Brad was saving early.

They said, yeah, you know what, I started saving early.

We had plenty with, you know, uh, my wife and I were both able to step away from work because we started early and in fact, that can happen, you know, fidelity just came out with their big 401k millionaires.

Uh, you know, jump to record levels.

And these are people and who's a 401k millionaire who's been saving for 26 years, the average age was 59 and get this one.

They saved a total of 26.6% of their salary.

Now that included their employer match.

So, oh my goodness.

So people can do this.

This is not uh something that you should not do.

But I gotta say the final thing is that I did hear from readers who said, you know what I did retire early and I regret it and I regret it because guess what?

I miss my job.

I absolutely loved the work I did.

I loved the community.

It made me feel relevant.

So, you know, we gotta take all these things into consideration when we think of early retirement.

But for everyone, it's their own path.

Yeah, love your work, love your job and you won't work a day in your life.

They say, but hey, some of us love to travel.

Uh Carrie.

Thanks so much.

We appreciate it.

Thank you.