Why Retire At 55? (Part 1)

Many thanks to “A Momma’s View” for posting this on her page!

A Momma's View

I have a unique opportunity to retire at age 55; maybe not that unique, but more of a rarity. I was fortunate to begin work for a recreation and parks department at a municipal government agency at age 26.

How can I retire at 55? In California, we (and our employers) pay into CalPERS, a public employee retirement system. To retire, the formula for eligibility is 2% at 55. With 30+ years in, this is the equivalent of retiring with 60% of my salary. I have 31 years in with PERS as I was able to purchase service credits from working part-time during college at PERS agencies. With 31 years, I am retiring with 62% of my salary.

Image credit by globalaging.org Image credit by globalaging.org

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4 thoughts on “Why Retire At 55? (Part 1)

  1. I retired at 55 because my husband who is 9 years older had retired and wanted me to join him. At first I was like a fish out of water however I’ve now learnt to let go and just enjoy. I am now funneling my energy into travelling with my love, my new blog and grandchildren.

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  2. I retired at 55 also. The best decision I ever made. My husband and I are much happier. He is a 100% disabled Vietnam Vet (retired from the Air Force after 24 years) so we are financially able for me to be at home. I love being able to write and spend time doing the things that I like to do. 🙂

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