Early Retirement Goal

If I had a choice, I would be a stay-at-home wife. Don’t get me wrong. I love my job. I also love the idea of working to earn a living. It’s just that the idea of homemaking and doing a plethora of things on the side at my own pace seems very appealing to me. (I say the lesser pressure from the outside world, the better!) And I can only do all that by quitting work. But the question is, am I ready for it? Am I ready to give up my job –my primary source of income– at this time? The answer is a big NO.

Image Source: http://www.gijobs.com/plan-retirement-civilian-world/

That’s why making an early retirement goal sounds like a great idea to me right now. I used to imagine myself retiring at age 45 but recently, I have decided to move it to age 50 (that’s exactly 19 years from now). I would still be young and healthy (I guess) by then and my savings and investments should be enough to tide me over until I start receiving my GSIS pension 15 years after at age 65. (That is, if I could complete the required 15 years of government service as I’m still on my 10th at present.)

Side story: Out of curiosity, I once asked my parents how they feel physically now that they are in their early 60’s (Mame) and late 50’s (Daddy), respectively. They both told me they feel the same as when they were in their 20’s except that their eye sight isn’t as sharp as before and that they must wear eyeglasses to be able to see clearly. Like, I couldn’t believe it at first! I asked them if they move slower now (they must be moving slower at their age!) and they answered with a big NO. Really? Yes, really, they confirmed. Okay, fine. I don’t know if it’s all in their mind but still, I want to give them the benefit of the doubt. If they feel that way today, there’s a chance that I could feel that way also when I reach their age…good for my early retirement goal!

I’ve discussed this early retirement thing with the hubby before and he didn’t pose an objection, whatsoever. He plans to work until he’s 65 years old and that means we are going to be a one-income household only when I retire. That should be manageable for us, financially speaking.

Here are just some of the things I wanna start doing or do more of when I finally say hello to retirement:

1. travel to new places both here and abroad
2. learn Spanish
3. cook and bake
4. declutter and maintain our home
5. bond with my husband and the kids (if ever we’d be blessed with more aside from our angel in heaven)
6. try my hand at brush lettering or calligraphy
7. sew and crochet
8. garden (hydroponics, if possible)
9. blog (and earn money online only when opportunities present themselves)
10. entertain at home (as a way of spending more time with family and friends)
11. make DIY projects for our home
12. sketch and paint

So yeah, age 50 it is! Now, this goal may change depending on what life will throw at me as the years go by. For now, I’ll stick with my early retirement goal and work hard on achieving my financial goals while on it.

Has it ever crossed your mind to make an early retirement goal? Tell me about it! 🙂

May you choose happiness always,
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19 Replies to “Early Retirement Goal”

  1. Me too, I want to retire early. I think I’m fixed at age 55 (God willing). Hopefully, by that time, my kids can feed themselves already. If they can support my teeny weeny luhos, the better.hehe

    Teka, do we need to wait until age 65 to get the GSIS pension? Diba, may choice na 5-year lump-sum or outright pension? Ganon kay Mama eh. Hindi na ba applicable sa batch natin yon? Hay, I’m praying that the government could come up with the best retirement package when it’s our time. I’m crossing my fingers at this one.

    1. Haha, I’m sure your kids will support your luho. Ang supportive mo kayang mommy! We start getting our pension at age 65 and yes, we will be offered two options: lump sum or outright pension. Oo, think positive sa mas magandang retirement package in the future! Pero sana mauna muna yung salary increase next year para masaya. 🙂

      1. I did a little research (via the retireables around). Sabi nila, say you retire at age 50 and chose 5-yr lump sum, after 5 years start na ang pension (55 yrs old). If you choose outright pension, the month following your retirement, pension ka na agad.

        Anyway, matagal pa na man yan, tsaka na natin busisiin pag malapit na. Ang importante yung increase next year. yey!

  2. I made a graceful exit in the academe (after teaching for 8 years some 3 years ago), so I guess I’m retired? Haha.. But i still work on the side. I went back to event hosting and freelance writing recently. I wish I had saved enough before I retired! So go ahead and enjoy life as a working wife before you retire! It is still nice to receive a decent regular income to be honest., (but no, I’m not complaining.. Haha)

    1. Wow, yes I think you’re officially retired but not 100% because you’re still doing some work on the side which is good, hehe. True, dapat madami ako pera bago magretire, hehe. 🙂

  3. Kami ay parang naka semi-retirement pero I would like to call it sabbatical 🙂 while we wait for an opportunity para makapagbusiness.

    Nasa plano ko din yung mga to-do list mo and fortunately, some of them I am doing now, like cooking and baking! 🙂

    I hope the business will come soon para ma busy na din 🙂

    1. Being an entrepreneur is always better than being an employee. But you and I know not everyone is molded for it. I wish you good luck sa business na gusto nyo iput-up. Oo nga, blog mo naman mga bine-bake mo para mainspire ako magbake ulit, hehehe. 🙂

  4. I have read financial goals too and most of them says to retire at the age of 50. I want it too.. I want to take advantage of the time since I have 25 years pa before 50. If I could just start with the investments too pero I have debts to pay first along with building emergency fund pa. Goodluck to us Edel. =)

    1. True, you’re luckier than me because I only have 19 years to prepare for it. Tama yan, Jen, unahin muna pagbayad ng utang at pagbuild ng EF. 🙂

  5. Gustong gusto ko ding maging stay at home wife! Sa bahay lang ako habang nag aalaga ng mga bata tapos habang tulog sila mag gagantsilyo ako at mag aaral magbake. Sarap siguro nun! Pero malabo atang mangyari un. The only thing that I regret now is starting my retirement insurance so late. But hopefully matatapos ko pa naman sya before I plan to retire. Then invest na lang after if may sobrang income pa.

    1. Yes, hindi pa huli ang lahat for that retirement insurance and yes, masarap tiyak yung nag-aalaga ng kids and doing some productive/therapeutic activities pag tulog sila. It’s not going to be a walk in the park for sure, but it’s going to make us very happy and fulfilled! 🙂

  6. Constant dream ko rin ang early retirement. I always see myself teaching when I retire. Earning just enough for my transpo and incidental expenses from teaching, but having a full heart from being around young people.

    1. You know, I used to want teaching, too. But I have a little problem with my temper, maikli kasi ang patience ko pag nagtuturo. Kaya sabi ko, wag na lang siguro. 🙂

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