Why Retire Early?

Abstract

Early retirement trends in the United States, United Kingdom and other industrialized societies are examined in relation to changing manpower requirements and economic forces. The results of a United Kingdom study of early retired men are presented, demonstrating the strategies adopted in retiring early. Factor analysis was used to examine the detailed considerations of respondents. A suitable financial basis was generally seen as the necessary prerequisite. In addition, a double-edged strategy emerged: a strategy for coping with changes and pressures in the work environment, and a more positive developmental strategy. Implications considered include the responsibility of organizations, the costs of early retirement, and alternative approaches for the future.