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 Comments 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.

    Liked by 1 person

  2. I retired at 57 and have never looked back. Best decision we ever made AND we’re not bored as some might expect, in fact, we don’t know how we fitted work in’

    Like

  3. 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. 🙂

    Liked by 1 person

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