This is an interesting rhetorical question (since I am many years past that age and will not be retiring for a good long time) that I have seen from a few financial bloggers so I will give my opinion on this critical goal (for some folks). Anyone can retire at 35. If you start early enough, remember Investing is like Golf. FIRE seems to be the new watchword. Financial Independence Retire Early is a lovely idea, but is it feasible?
The primary thing you should do is plan on not living past 40, and you can retire at 35 no problem. You might be able to retire at 32. OK, that is me being a snarky-pants on that one; however, the idea might be that you “retire” at 35 and then go back to work at “40,” sort of a change of career concept.
The concept of a mid-life career change has worked very well for many associates and friends. If at age 35 you decide you don’t want to be a “grunt programmer” and go back to school to become a Lawyer or Doctor, you have retired from your old career but are “reborn” in your new job. This is not FIRE. Does that seem to imply you stop working?
Another great idea is to plan on winning the lottery at 35. Then you can retire for sure. However, you may end up returning to work at 40, since if you buy lottery tickets, you most likely will blow most of that money as well.
If all you are trying to do is retire 30 years before the “normal retirement age,” stop worrying. In about ten years, the retirement age will be moved up to 75, and thus 45 will become the new 35!
Why Retire at 35 ?
I guess my real question is: You want to retire at 35? What the hell are you going to do for the 50 years after that? If you tell me “explore the world,” I’ll let you know “the world” can get tedious after a while. Why not just aspire to be DEBT FREE by 35 and able to do what you want at 35? You don’t like your job, quit, and do something you want, that is the greatest freedom. If you want to change careers, no problem, you can do it.
Who wants to retire at 35 completely? Is FIRE a believable idea?