Why Retiring Early Is Hard Even When You Can Afford It

"When you have spent your entire life working hard and saving for a secure retirement, it can be surprisingly difficult to flip the switch and actually walk away. Many people find it emotionally challenging to stop earning and start spending down the nest egg they spent decades building. This is exactly the struggle one Reddit user recently described. The original poster shared that he had always planned to retire at 55 and had invested carefully to make that dream possible."

"By the time he reached that milestone, he had saved twice the amount he believed he needed. But his lifestyle had expanded, his spending had grown, and his colleagues urged him to stay a little longer. Tempted by the offer of an additional 6 million dollars, he pushed retirement back another year, even though he felt the after tax amount would not truly change his quality of life."

"Psychological research shows that people often attach a deep sense of purpose and identity to their careers. Studies on wellbeing in later life, as well as research on affluenza and the tendency to overvalue future earnings, support the idea that quitting can feel far more daunting than expected. This post was updated on November 9, 2025 to reflect these insights."

Many people find it emotionally challenging to stop earning and start spending retirement savings after decades of work. A retiree who saved twice what he believed he needed delayed retirement multiple times because expanded lifestyle, social pressure and the lure of additional millions made walking away difficult. High earners can struggle with identity loss, purpose and the psychological tendency to overvalue future earnings. Research on wellbeing in later life and on affluenza supports the idea that quitting work can feel more daunting than financial calculations predict. The temptation to add more wealth can override readiness to spend a secure nest egg.

Read at 24/7 Wall St.