unsplash.com

Some people love their job and going to work each day is a reason to wake up bright-eyed and bushy-tailed. The thrill of the task at hand excites them and keeps them busy with to-dos, meetings, and projects. They will likely retire someday, but the urgency isn't forcing them to cross the days off the countdown calendar.

Then there are those folks who cannot wait until retirement rolls around. The 9-to-5 has gotten stale, stress is through-the-roof, and they relish in the day when they can sit on their back porch, lemonade in hand, with their days free for whatever life may bring.

However you may feel about working, the idea of retirement has surely crossed your mind at one point or another. As great as your job may be, retirement sure sounds dreamy. And if the last time you'll clock in will be as exiting as getting your first paycheck, retirement seems like a trip to paradise.

While the average age of retirement in the U.S. is 63, some people have the luxury of retiring sooner. And retiring early, while not commonplace, certainly has its perks. Here are three benefits of retiring ahead of the curve.

Improved Mental Health

pexels.com

While working keeps our minds active, it is also a major source of stress for many. Not to mention the tension of working with people we may not agree with, pushy bosses, demanding schedules, and commuting chaos. These things will be over and gone come retirement.

As per The Motley Fool, "More than 50% of Americans consider themselves unhappy at work. Of course, unhappiness comes in varying forms and degrees, but if your job is a major source of stress, retiring early might actually be a smart move health-wise."

You'll also likely get more sleep, keeping you on the ball and invigorated. You won't be as cranky or short-tempered, creating a more mentally-sound you. De-stress, decompress, and delight in your mental health boost while your mind is still young and sharp!

Time for Personal Interests

unsplash.com

After a long day at work, there is little time left for hobbies, passions, and non-work-related goals. Although you may have weekends and a bit of free time after work to pursue personal interests, your job usually comes first. You need to make money, and that trumps tending to your garden, hitting the free weights, or brushing up on your Spanish. Travel is limited to set vacation days and you can't practice with your church choir if rehearsals are at two in the afternoon on Wednesdays.

According to U.S. News & World Report, "Having free time when you are still relatively young is better than having those same hours when you are older. An early retiree will have more energy to travel, perhaps live in exotic places and try out physically demanding new hobbies. Maybe you will find a new hobby that ends up turning into a lifelong passion."

You may even want to start a new career. As Investopedia notes, "If you dream of switching fields or starting your own business, sooner may be better than later. You'll be a more desirable job candidate to many employers the more years you have ahead of you. And if you want to be your own boss, you'll have more time to get your business off the ground."

Improve Relationships… and Form New Ones

unsplash.com

More hours at home means more quality time available to spend with family and friends. Reconnect with people you have not seen in a while, bring back the romance with your partner, and give your kids an opportunity not many have by being there day in and day out as they grow.

U.S. News & World Report adds, "Not everybody can make it out during the week, but don't underestimate the number of people who don't work on a 9-to-5 Monday to Friday schedule. You will find new people to socialize with in your area who have similar schedules."

Most importantly, you can get to know yourself all over again. When focus is shifted from work to retirement, you can take a deep look inside and rediscover what makes you tick. Doing this earlier in life can leave you with fewer regrets that you didn't live up to your full potential on your own terms.

Would you retire early if you could?

PayPath
Follow Us on

Over two years into the most momentous event in our lives the world has changed forever … Some of us have PTSD from being locked up at home, some are living like everything’s going to end tomorrow, and the rest of us are merely trying to get by. When the pandemic hit we entered a perpetual state of vulnerability, but now we’re supposed to return to normal and just get on with our lives.

What does that mean? Packed bars, concerts, and grocery shopping without a mask feel totally strange. We got used to having more rules over our everyday life, considering if we really had to go out or keeping Zooming from our living rooms in threadbare pajama bottoms.

The work-from-home culture changed it all. Initially, companies were skeptical about letting employees work remotely, automatically assuming work output would fall and so would the quality. To the contrary, since March of 2020 productivity has risen by 47%, which says it all. Employees can work from home and still deliver results.

There are a number of reasons why everyone loves the work from home culture. We gained hours weekly that were wasted on public transport, people saved a ton of money, and could work from anywhere in the world. Then there were the obvious reasons like wearing sweats or loungewear all week long and having your pets close by. Come on, whose cat hasn’t done a tap dance on your keyboard in the middle of that All Hands Call!

Working from home grants the freedom to decorate your ‘office’ any way you want. But then people needed a change of environment. Companies began requesting their employees' RTO, thus generating the Hybrid Work Model — a blend of in-person and virtual work arrangements. Prior to 2020, about 20% of employees worked from home, but in the midst of the pandemic, it exploded to around 70%.

Although the number of people working from home increased and people enjoyed their flexibility, politicians started calling for a harder RTW policy. President Joe Biden urges us with, “It’s time for Americans to get back to work and fill our great downtowns again.”

While Boris Johnson said, “Mother Nature does not like working from home.'' It wasn’t surprising that politicians wanted people back at their desks due to the financial impact of working from the office. According to a report in the BBC, US workers spent between $2,000 - $5,000 each year on transport to work before the pandemic.

That’s where the problem lies. The majority of us stopped planning for public transport, takeaway coffee, and fresh work-appropriate outfits. We must reconsider these things now, and our wallets are paying

the price. Gas costs are at an all-time high, making public transport increase their fees; food and clothes are all on a steep incline. A simple iced latte from Dunkin’ went from $3.70 to $3.99 (which doesn’t seem like much but 2-3 coffees a day with the extra flavors and shots add up to a lot), while sandwiches soared by 14% and salads by 11%.

This contributes to the pressure employees feel about heading into the office. Remote work may have begun as a safety measure, but it’s now a savings measure for employees around the world.

Bloomberg are offering its US staff a $75 daily commuting stipend that they can spend however they want. And other companies are doing the best they can. This still lends credence to ‘the great resignation.’ Initially starting with the retail, food service, and hospitality sectors which were hard hit during the pandemic, it has since spread to other industries. By September 2021, the US Bureau of Labor Statistics reported 4.4 million resignations.

That’s where the most critical question lies…work from home, work from the office or stick to this new hybrid world culture?

Borris Johnson thinks, “We need to get back into the habit of getting into the office.” Because his experience of working from home “is you spend an awful lot of time making another cup of coffee and then, you know, getting up, walking very slowly to the fridge, hacking off a small piece of cheese, then walking very slowly back to your laptop and then forgetting what it was you’re doing.”

While New York City Mayor Eric Adams says you “can't stay home in your pajamas all day."

In the end, does it really matter where we work if efficiency and productivity are great? We’ve proven that companies can trust us to achieve the same results — or better! — and on time with this hybrid model. Employees can be more flexible, which boosts satisfaction, improves both productivity and retention, and improves diversity in the workplace because corporations can hire through the US and indeed all over the world.

We’ve seen companies make this work in many ways, through virtual lunches, breakout rooms, paint and prosecco parties, and — the most popular — trivia nights.

As much as we strive for normalcy, the last two years cannot simply be erased. So instead of wiping out this era, it's time to embrace the change and find the right world culture for you.

What would get you into the office? Free lunch? A gym membership? Permission to hang out with your dog? Some employers are trying just that.

Keep reading Show less

Did you hear about the Great Resignation? It isn’t over. Just over two years of pandemic living, many offices are finally returning to full-time or hybrid experiences. This is causing employees to totally reconsider their positions.

Keep reading Show less