When I was in my 20s, I worked an extremely stressful job that paid well. Had I continued in that field through my early 40s, I might’ve made a ton of money. But my mind and body couldn’t handle it.
So instead, I pushed through that job until I reached my late 20s, and at that point, I shifted over to a less stressful career. What I lost in terms of higher earnings, I gained in the form of a better quality of life.
Because of my experience, I was able to relate to this Reddit poster. Here, we have a 43-year-old man who’s in a stressful but rewarding career he’s passionate about. He also says he’s in a great place financially and could retire now, but he’s not sure what to do.
Now the poster doesn’t reveal how much money he has, so I’ll have to take his word for it that he’s really equipped to retire at his age. But I also think there are risks of retiring at 43. And so he may want to explore other avenues.
The danger of retiring very early
The longer your nest egg needs to last, the greater the general risk of running out of money. But retiring in your 40s poses some unique challenges.
For one thing, you’re decades away from being able to claim Social Security or get health coverage through Medicare. And you’re not even old enough to tap an IRA or 401(k) plan without an early withdrawal penalty.
Hopefully, the poster above has considered these things. And it may be that they have a backup plan. But for many people, these are major issues.
The poster also has to think about the fact that if he retires at 43, he might be the only person in his social circle to end their career that young. That could change the dynamics quite a bit.
Plus, there’s the question of what the poster will do with his time in the absence of a job. If he’s used to working long hours, he might struggle to fill his days.
This is something that retirees often have a hard time with in general. But at 43, it’s even more likely to be an issue given that the poster might have a higher energy level than someone of typical retirement age.
A shift or break might be best
I don’t think it’s a good idea for this poster to rush into retirement, even if he feels confident he can afford it. Instead, I think he should meet with a career counselor and think about other work-related options that aren’t as stressful.
It’s good that the poster is passionate about his job, but he needs to lower his stress levels. A career shift could give him the best of both worlds — work that’s less demanding but also meaningful.
Another option is for the poster to take some time off. It may be that three months on an island is enough time to get a reset. From there, he might be in a better position to make a sound decision.
All told, this poster has many options. And he should seek help in exploring them. That could mean not only talking to a career counselor, but also, a qualified financial advisor who can help him understand his options.
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