How much is enough, why I am not working till 65

How much is enough

The toughest part of early retirement is knowing when you have enough saved to retire comfortably without running out of money. Working longer prevents this problem. The big question is how much is enough? Early retirement opens up a lot of opportunities, but obviously the longer you work and save the higher your net worth is.

I think the “living to work” mindset plays into people wanting to retire later even past the standard 65. I have known several people who believe if they’re not working they have nothing else to fulfill themselves.

If you live in Canada the average life expectancy for a male is 79 years and a female 83 years. For a couple one out of the couple can be expected to live well into his/her 90s or longer. Statistic  Canada

Back in the early 1900’s when a lot of Social Security started life expectancy was 50 years, so not many lived long enough to collect. In 1927, the Federal government introduced the first old age pension.

In 1965, the Federal government further reformed the public pension regime when it introduced the Canada Pension Plan (CPP). That’s how we have the standard 65 years of age for retirement. Canada Income System

Why I don’t want to work until I am 65

I am sure you have heard the saying 60 is the new 40, but is it really ? Maybe 60 is, but I have noticed that once you get into your 70’s you don’t want to travel as much and health can be an issue. Travel insurance is expensive and most retirees want to slow down and stay closer to home. There are exceptions, for most retirees by the time they are in there 70/80s they start having mobility/health issues.

Some experts discourage people from retiring at 65 and suggest working a few more years to fund their retirement. That would help some people financially, but that’s not for me. I would rather save more now and have a longer more enjoyable retirement. I want to travel and RV. Once I am in my 70’s I will probably prefer to stay home or easier traveling like cruises or all-inclusive packages.

“I would say the greatest gift is time. Money, real estate, stuff, can be bought or stolen, but you’ll never get an extra hour back,”(sorry I don’t know who the quote came from).

Final Thoughts

Only 5-10 good years of retirement after 45+ years of working sounds like a poor trade-off, that’s why I will not wait until I am 65 to retire. I will be a little more frugal and delay gratification now, save as much as I can so I can retire early.


Don’t wait for retirement to enjoy life !!



  1. I totally agree, however will put a little different spin on it. Find work you actually like to do and best case make it part-time. The feeling of work and productivity is great, the extra money can’t hurt and it doesn’t feel like work if you enjoy whatever it is. It works for me and consistent with the message in your post, I would never want to go back to the 50+ hour work week, with a bottomless to do list and and an hour or more of commuting each day. Tom

    • Hi Tom Thanks for stopping by. I do work part time now and it is the best. I am not in any hurry to fully retire it gives you a purpose to get out of bed in the morning and the extra money is great.

  2. I don’t want to be working until I am 65 either. Freedom 45 for me (hopefully). I know too many people who waited until they were 65 and then they had a heart attack or got diagnosed with cancer and didn’t get to do the things they wanted to do. Life is precious we don’t know how much time we have. Gotta make the most of it!

  3. I am with you there Steve! If someone is dedicated to saving and investing there is no reason you need to work until 65. I hope to be working better hours doing what I enjoy early in life. Then eventually fully retire before waiting to long. I think many people get addicted to the status that comes with work or the comfort of the income. Life is to short to work forever in my opinion.

    • Exactly. Without your health money doesn’t really matter much and I agree people get addicted to status and the income. You can never buy an extra hour back! Thanks for the comment .

  4. I’m working towards retiring at 55 – hopefully! 65 years is a long time to be tied to doing 9 to 5 or any other variation of full-time work. I would prefer a situation where I can 100% choose to work or not at that age.

  5. It is a fact that after 50 your strength starts decreasing therefore if your job requires hard work, then you might not be able to do. That’s why, I would suggest you to make savings for 10 to 12 years so you can retire in the age of 50 and then your savings can help you to reach 62 where you can get a huge amount of money for living the next years enjoying as much you can with the help of reverse mortgaging.

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