When will I Retire ?

The Australian Bureau of Statistics conducted a survey in 2015 about the retirement plans of Australians. It has found that 71% of people said they intend to retire at age 65 or 66. The proportion of people that said that they would work beyond 70 has grown 4 fold.

Is this because we are enjoying our jobs more ? living longer ? the age pension is pushing out ? or we just dont have enough money to fund our lifestyle ?

Only you can determine what the answer is in your case however i think a lot of the people planning to work to 70 are doing it for economic reasons and not from a position of choice. When will you retire ?

Retirement is the day that you are working for fun. There is a range of very wealthy people that work beyond 60,70 and 80 because they want too not because they have too. Those people are actually retired as they can stop working and do what ever they like whenever they want to. They just choose to work. Assume you win $20m in lotto on the weekend. For most people that would be enough to sustain them and their families for 100 years however you may still choose to work because you want to. That is retirement.

Warren Buffett works because he enjoys his job. Bill Gates decided he had enough at Microsoft and now devotes his time, energy and considerable expertise and influence to great social causes in poor parts of the world.

You only have to listen to either of them speak to know they love what they are doing and will do it until they die. They have enough resources to do anything they want and they are spending their lives doing exactly what they want to do. A lot of people would say they are working full time at a great pace. They are both retired to my way of thinking.

Retirement is the day that you have enough money to fund your lifestyle and on that day you may stop work or continue the choice is yours.

Ask yourself When will i retire ? and What is my retirement plan?