I Just Retired Early at Age 56 – Am I Making a Mistake?

A Reddit user retired at a much younger age than most, and now he’s second-guessing his choice. While he has made clear that he feels like he is in a good financial position as a retiree, the original poster (OP) has also admitted that he feels strange about the situation and that other non-monetary issues have cropped up that are interfering with his full enjoyment of retirement.

So, is the OP making a mistake in staying out of the workforce despite the fact that he’s well below the standard retirement age? And, what can he do to improve his situation so he’s happier as a retiree?

Retired Redditor grapples with downsides of early retirement

The Reddit poster pointed out a number of issues he is having now that he is retired, although he said he is generally enjoying not having to go to work. 

One issue he has is feeling like he’s done something wrong by leaving work so young. He describes it as a sensation similar to the feeling you’d get when you cut classes in college. He said it’s awkward when he talks to older people who are still working, and he fears he’ll end up in trouble at some point in the future because of his choices.

Aside from the strangeness he’s feeling over potentially having done something he shouldn’t, he’s also uncertain about how to get used to having free time and how to create a plan for what to do with all that time. He was considering either part-time work or consulting gigs as a solution to feeling at odds without enough to do, but isn’t sure if that’s the right path. 

How to enjoy early retirement once you’ve left work

Since the OP here is in a good place financially, he doesn’t have an economic reason to return to work — but plenty of people end up regretting retirement even if they have money, because losing the purpose and the social connections that work brings are huge downsides. This is especially true since the OP is pretty young. 

When you are in your mid-50s, you (hopefully) have a lot of years left to fill and, if you don’t have a clear plan for what to do with your days, becoming bored, lonely, and depressed are all potential outcomes. That’s likely why so many people responding to the OP’s post suggested that he should find a hobby or lean into exploring new interests to keep his mind sharp and to fill his days with something useful that he will enjoy. 

Others also advised him to give it time to settle into a routine and to get over that odd feeling of thinking that you are doing something wrong or that others are judging you for early retirement. One other Redditor said it took him around a year to feel comfortable with and get used to retirement, and another said they initially felt awkward about their early retirement, too — but that feeling eased both as they settled into their situation and as they got older and closer to the more standard retirement age.  

The OP would do well to listen to these comments and find something to focus his time on now as he gets used to being without a job. He may decide to embrace new hobbies or even pick up that part-time work he was talking about later, but for now, he should take the time to think about what social and personal goals he wants to set for himself to spend retirement doing what matters most.

The OP may also want to talk to a financial advisor to confirm he’s definitely on track to a secure retirement and to get help making sure his assets are allocated appropriately and his withdrawal rate is reasonable.  If it turns out he wasn’t really in a great financial place to retire, as he said some people seemed to suggest, his advisor can hlep him come to terms with that and make a plan sooner rather than later before he settles into retirement and then things go wrong and need to change. 

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