We all aspire to retire early at some point in our lives, whether we love our jobs or feel burnt out. Depending on your benefits or salary, you can explore that option with different careers. More importantly, you don’t need a six-figure salary to achieve this. Some jobs offer career benefits that can help you to retire early. In this article, we will show you some of those careers you can consider for early retirement.
A psychologist is a healthcare provider who specializes in mental health. They must treat mental health conditions like depression, anxiety, and stress. They diagnose the patient and develop a treatment plan that often involves psychotherapy. According to the American Psychological Association report, the average retirement age is around 61 years, and women usually retire earlier.
Police officers and detectives usually have an average salary of $67,290, according to the Bureau of Labor Statistics. This is close to the national average of all occupations, so most people wouldn’t think early retirement is possible for police officers. However, since this is a public role, we must consider their benefits.
Many police officers and detectives receive the possibility of retiring at 20 years of service, and their payout is more than 50 percent of their salary.
Data science is a multidisciplinary branch that extracts insights from structured and unstructured data. This profession is mainly used to make better business decisions but is also relevant in industries such as pharmacy and finance. According to BLS, the salary of a data scientist is $126,830. You can easily afford early retirement with this wage and the appropriate retirement plan.
Physicians are medical professionals who help patients treat and cure their conditions. They first perform a diagnosis or evaluation to determine the disease, then prescribe the treatment. This role usually has a high salary, which could help you afford early retirement. With preparation in advance, you can retire early with no problems. However, you must also consider that it’ll take several years to become a physician.
A software engineer is a programmer who designs and implements applications for mobile and desktop devices. They can work in front-end development, back-end development, or both. It all depends on their role. Software engineering is a high-paying job that could become your path to achieving early retirement. Software developers earn an average yearly salary of $110,140.
A politician’s average retirement age is 56, earlier than most professions. Political scientists make around $125,350, according to BLS. However, their possibility for early retirement is not only because of their salary but because they also enjoy governmental benefits that allow them to retire comfortably with 20 years of in-field experience.
Some people believe it should be mandatory for politicians to retire early. There is a big debate regarding politicians’ retirement age in the United States. Psychologists think that mental problems related to age could influence how they manage their responsibilities. Therefore, senior politicians shouldn’t be allowed to work after a certain age.
Becoming a pilot is another great option if you enjoy traveling and are not afraid of heights. Pilots make an average salary of $130,440, according to BLS. Pilots are in a similar situation with politicians, forced to retire before 65 due to federal aviation regulations. Senior pilots are not physically or mentally qualified to work, so the average retirement age for pilots is 65. However, you also can retire early with the appropriate savings and other benefits such as healthcare insurance.
You don’t have to be a CEO or company owner to aspire for early retirement, and sometimes, your salary isn’t a crucial factor for this. To retire early, you have two options: having a high salary or pension. You can get a pension with public jobs such as politicians or police officers.
You can also opt for high-paying professions in the healthcare or tech industry, such as becoming a physician or web developer. It all depends on your interests; however, it is always crucial to keep your retirement in mind when choosing a career.