Making Sense Of Cents

Learn how to make extra money, how to save money, how to start a blog, and more.

JOIN OVER 300,000
MONTHLY READERS!
  • HOME
  • BLOG
  • About
  • Categories
    • SAVE MONEY
    • Side Job Ideas
    • Blogging Tips
    • Budget Tips
    • Career Advice
    • College
    • Pay Off Debt
    • Extra Income
    • My Life
    • Minimalism
    • Pet-Related
    • Real Estate Help
    • Retirement
    • Product Reviews
    • Self-Employment Tips
    • Travel
      • RV Life
    • Wedding
  • How To Start a Blog
  • FREE FB GROUP
  • Recommendations
  • Contact
    • Contact
    • Advertise
  • How To Save Money
  • Make Extra Money
  • Blogging Courses
    • Affiliate Marketing Course
    • Making Sense of Sponsored Posts
  • Travel

Secrets of Early Retirees

Last Updated: December 19, 2015 BY Michelle Schroeder-Gardner - 10 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

2shares
  • Facebook
  • Twitter
  • Reddit
  • LinkedIn
  • Email
Everyone wants to retire early right? Retirement seems so far away for me (and it is) but I still want to retire early. But am I prepared?

Yahoo! Finance had an article about early retirees and I thought it would be helpful to compare myself and see where I am.

1. Do you save for retirement outside of just your workplace plan? I save, most of my retirement fund is from my work though, because I’m trying to pay down debt first.

“69% of early retirees do this vs. 60% of those who plan to retire after 65 and 49% of those who say they’ll never retire.”

 2. Do you defer a high percentage of their salary into a retirement plan? No. I feel like I’m already failing at this article.

“Early retirees defer a median of 10% vs. 6% for those who plan to retire after 65 or don’t plan to retire.”

 3. Did you start saving at a young age? I started saving awhile back! This is something that I did not fail at.  I expect all of my debt (besides my mortgage payment) to be done in a couple of years, and then I will start heavily saving and investing.

“The median age early retirees begin saving is 25 vs. 30 for those who will retire after 65 and 31 for those who never plan to retire.”

4. Do you have a thought-out retirement savings strategy? No I do not.  All I’ve really thought about is that I want to retire.

“71% of early retirees have either a written plan (16%) or a non-written plan (55%), while just over half of those who plan to retire after 65 do and just one-third of those who will never retire do.”

5. Are you very involved in managing and monitoring your retirement accounts? I monitor them all the time. Nearly everyday.

“71% of early retirees say they are very involved vs. 58% of those who will retire after 65 and just 45% of those who say they will never retire.”

6. Have you saved the same amount or more since the recession began? I have saved more. Considering I was only around 18 when the recession started, of course it’s more.

“71% of early retirees are doing this compared to 61% of those who will retire after 65 and just over half of those who never plan to retire.”

How are you doing? What are your retirement plans?

Related Posts

  • A Beginner’s Guide to Micro-Investing in 2021A Beginner’s Guide to Micro-Investing in 2021
  • What is Value Investing, and Why Should You Care?What is Value Investing, and Why Should You Care?
  • Why Save Money Now? 9 Reasons That Will Help You Start SavingWhy Save Money Now? 9 Reasons That Will Help You Start Saving
  • How To Save For Retirement – Answers To 13 Of The Most Common QuestionsHow To Save For Retirement – Answers To 13 Of The Most Common Questions
  • Why Investing for Retirement is So Important for Women (and How To Do It) Why Investing for Retirement is So Important for Women (and How To Do It) 
  • How To Reduce, Reuse, And Save More CashHow To Reduce, Reuse, And Save More Cash
2shares
  • Facebook
  • Twitter
  • Reddit
  • LinkedIn
  • Email

10 Comments
Filed Under: Retirement Tagged With: Retirement, Savings

About Michelle Schroeder-Gardner

Michelle is the founder of Making Sense of Cents, a blog about personal finance and traveling. She discusses how her business has evolved in her side income series. She paid off $40,000 in student loans by the age of 24 mainly due to her freelancing side hustles. Click here to learn more about starting a blog!

Comments

  1. Holly says

    October 27, 2011 at 7:04 am

    This is something to seriously think about! I think I'll run this post by my husband later. Thanks, Michelle :)-Holly @ Eight Six Eleven

    Reply
  2. saving for travel says

    October 27, 2011 at 7:53 am

    You sound like you're doing great. We are paying off the mortgage. Saving for retirement will begin in earnest in 2013. But I do have a great teacher's pension (at the moment-changes afoot) and we do pay into pension accounts too.It all helps.Sft x

    Reply
  3. Ashley says

    October 27, 2011 at 9:06 am

    Such an important post! Thanks for sharing!

    Reply
  4. Stephanie says

    October 27, 2011 at 9:12 am

    Yay, I've done all of these except #4! The extent of the plan is just to save 10% of our income since most calculators I've used say we should have about a million dollars in our accounts if we continue at our current rate. I'd love to bump our savings up to a little bit more than 10% though, just for a little extra cushion. 😉

    Reply
  5. The Happy Homeowner says

    October 27, 2011 at 10:20 am

    This has nothing to do with your (great) post, but congrats on winning Money Rabbit's giveaway!!

    Reply
  6. Brittany says

    October 27, 2011 at 10:48 am

    Thanks for sharing this! I need to start doing some of this!

    Reply
  7. Jane says

    October 27, 2011 at 12:40 pm

    Hey – great list!! It looks like I'm doing ok!

    Reply
  8. GLAMOURMOES says

    October 28, 2011 at 1:28 am

    Great post, but I'm not thinking about retirement yet! I have to start work fulltime so, it's not something I'm thinking of but I will definitely start saving money!

    Reply
  9. Michelle P says

    October 28, 2011 at 3:29 am

    Thanks everyone!

    Reply
  10. Rafiki says

    October 31, 2011 at 6:50 pm

    I feel like I am doing pretty good although a pretty quick rough calculation show I only save 5.6% of my gross salary.Other than that, I think I have nailed everything else although I only started my retirement account this year so roughly before 21.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Making Sense of Cents welcome page photo
Hello and welcome!
My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.
Follow on Bloglovin

Subscribe Via Email

As Seen On

as seen on
How To Start A Blog
making sense of affiliate marketing for bloggers
My Monthly Online Income Reports
My Student Loans Are Gone - How I Paid Off $38,000 In Student Loans
Buying a House at 20 (How I did it)
How To Make Money Blogging Picture
How To Save 50% Or More Of Your Income Picture
How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
75+ Ways To Make Extra Money

Subscribe Via Email

HOME
CONTACT

POPULAR POSTS
How To Make Money Blogging
How To Start A Blog Tutorial
I Paid $40K In Student Loans By 24
75 Ways To Make Extra Money

PRIVACY POLICY
TERMS OF USE
DISCLAIMER / EARNINGS DISCLAIMER

Copyright © 2011 - 2021. All Rights Reserved.

© 2021 Making Sense of Cents
Design by Swoon & Co. Creative