The most common reasons to retire early are control over your own time and leaving a job that wears you down. Others retire to travel while they’re healthy, to spend time with family, or to reach a goal they planned for years.
Not every early retirement is a choice. Health problems and layoffs push many people out sooner than they expected.
When members of the Boldin community on Facebook were asked why anyone would retire young when retirement lasts so long, hundreds answered. Their replies, along with a second member survey on what pushed people to retire, sort into 10 reasons. Here they are in members’ own words, followed by the tradeoffs that come with leaving work early.
Why Do People Retire Early?
People retire early for reasons they choose and reasons chosen for them. The chosen ones include freedom, travel, family, and a goal they saved toward for years. The others come from a health problem, a layoff, or a family member who needs care.
The second group is bigger than most people expect. In the 2026 EBRI/Greenwald Retirement Confidence Survey, nearly half of retirees said they retired earlier than planned. Of those, 41% cited a health problem or disability, and 35% cited changes at their company. Gallup puts the average retirement age at 61, six years before full Social Security at 67.
10 Reasons People Retire Early, in Their Own Words
Members’ answers fell into these groups, and many people gave more than one.
1. To Control Their Own Time
Freedom came up more than any other answer. Some members wanted time for golf, woodworking, knitting, or any of the 101 things to do in retirement. Others wanted no schedule at all. Rosalyn is looking forward to “the day I wake up early because I want to and not because I have to.” John put it plainer: “I do absolutely nothing and I don’t start that until after noon.”
2. To Leave a Job That Wore Them Down
Getting away from a stressful job was the second most common answer. Janet summed it up: “It’s not what you do. It’s what you don’t have to do anymore.” Patrick said his goal in life “was to not be beholden to a job.”
For others, the job had stopped going anywhere. Sam was “tired of the toxic culture of my job with no opportunity to advance.” Doug saw the “same stuff every year. So, I figured it was time to go and do something that I’d like.”
3. To Travel While They’re Healthy Enough to Enjoy It
Travel shaped many members’ timelines, from RV trips to a year on the water. David plans to sail around the world for three years. He said, “Not sure I would be physically able to do that in my 60s.”
4. To Be There for Family
Members retired early to spend time with spouses, children, grandchildren, and aging parents. Wendy had traveled 80% of the time as a consultant. “I am glad I left my soul crushing schedule for family,” she said. Nancy moved in with her mother when her mom needed her and called their four and a half years together “an incredible gift.”
Some retire to become caregivers, which carries its own costs. Jill retired to care for her mother. “The decision was full of emotion,” she wrote. “The stress of care giving is very real and it was hard financially.”
5. Because Health Made the Decision Clearer
Health is the most common reason people retire sooner than they planned. Members who chose to go early often saw it coming in someone else first. Tom wrote, “My father died at 39 of heart disease. I retired at 54, 14 years ago. Life is more than working.” For Brett, the job itself was the risk: “If I hadn’t retired at 54, the stress and frustration would have killed me.”
6. Because They Always Planned To
Some members set the goal decades ahead and saved hard for it. Tom D. said, “We were aggressive savers. Worked in high stress, high paying jobs. Had a goal to retire early and we made that happen.” Brad decided in his 30s to retire in his 50s. He got there and found his finances in better shape than he’d planned, even after market crashes and inflation. Many people in this group follow some version of FIRE, short for financial independence, retire early.
7. To Do Work That Matters More to Them
For some members, early retirement meant switching to work they care about. Katheryn said it “gives you the option to switch to a new kind of ‘work’ without the constraints of worrying about your income level.” Laura is turning her farm into a business with one of her kids and calls it “more of a passion project.”
8. Because Time Is the One Thing They Can’t Buy Back
Several members framed the decision as a trade of money for time. Robbi retired at 58 and said, “I know how much money I have but I don’t know how much time I have.” Wendi asked, “No one can guarantee how much time we have so why not retire earlier if it makes sense financially?” For Kay, the turning point was the “death of a close friend. Made me appreciate time is short.”
9. Because the Numbers Said Yes
In the second member survey, the most hopeful answer was financial confidence: seeing that their money could cover the rest of their lives. Julie described “the epiphany that I didn’t need the income.” Without that clarity, it’s easy to fall into one more year syndrome and keep moving the date.
10. Because the Choice Was Made for Them
Layoffs, buyouts, and age bias force people into retirement too. Changes at work were the second most common reason retirees gave EBRI for leaving earlier than planned. Jeff, who worked in IT, took an early retirement package because turning it down meant risking a layoff. “The company saw no long-term value in me at my age,” he wrote.
What Are the Pros and Cons of Retiring Early?
The biggest advantage of retiring early is more healthy years to spend as you choose. The biggest drawback is more years to pay for, with no Medicare until 65 and a smaller Social Security check if you claim early.
| Pros of retiring early | Cons of retiring early |
|---|---|
| More healthy years for travel, family, and hobbies | More years to fund, often 30 or more |
| Distance from a stressful job | No Medicare until 65, so you buy your own health insurance |
| Time for work you choose | A smaller Social Security check if you claim before full retirement age |
| Less day-to-day stress | A 10% penalty on most retirement account withdrawals before 59½ |
| Room to change course while you’re young | Less structure, and a work identity to replace |
Each drawback can be planned for. Start by estimating how much you need to retire early, then price health insurance before Medicare. Decide when to claim Social Security, since claiming at 62 cuts your benefit 30% for life if your full retirement age is 67. A few IRS exceptions also let you withdraw from retirement accounts before 59½ without the penalty.
Is Retiring Young Right for You?
Retiring young works best when you’re retiring to something. A 2025 study in the Journal of the American Geriatrics Society found that adults 60 and older with high social engagement, like volunteering, time with grandchildren, and sports or social clubs, had a 42% lower risk of dying over four years than less-engaged peers.
Work can supply that engagement too. Many people enjoy their jobs and keep at it, and some go back after retiring for reasons that have little to do with money.
The members happiest with an early retirement had a plan for their time and their money. Having both in place is one of the clearest signs you’re ready to retire.
What Does It Take to Retire Young?
Retiring young means paying for the years before Social Security, Medicare, and penalty-free access to your retirement accounts. That takes a high savings rate, money you can reach before 59½, and a plan for health coverage.
How Can You Test an Early Retirement Date First?
Before you set a date, see whether your money holds up. In the Boldin Planner, enter the age you want to stop working and see how your savings, taxes, and Social Security play out year by year. With PlannerPlus, you can build up to nine scenarios beside your baseline, then compare up to three side by side. Try your target date, a date a few years later, and one where work ends sooner than planned.
Reasons to Retire Early: FAQ
What are the most common reasons people retire early?
People most often retire early for freedom, to leave a stressful job, to travel, to spend time with family, or to reach a goal they saved toward for years. Many early retirements aren’t chosen. Health problems, layoffs, and buyouts push a large share of people out of work before their planned date.
What motivates people to retire?
People are motivated to retire when they can afford to stop working, when health or family needs make work harder, or when they reach a milestone like Medicare at 65 or full retirement age for Social Security. Some retire to escape a job. Others retire toward something they want more time for, like travel, family, or a passion project.
What are the disadvantages of retiring early?
Retiring early means more years to fund from savings, paying for your own health insurance until Medicare at 65, and a reduced Social Security benefit if you claim before full retirement age. Withdrawals from most retirement accounts before 59½ can trigger a 10% penalty. Some early retirees also miss the structure work provided.
Is retiring early worth it?
Retiring early makes sense when your savings can cover a longer retirement and you know how you want to spend the time. Many members who retired early described the freedom as worth it. Testing your target date in a retirement plan first shows whether the numbers support it.
