Does engineers retire early?
than other jobs like businessman
Public Comments
- It depends on how much money you get. It also depends on the type of engineer you are.
- Only aftr they lurn to spel
- Engineers don't retire if their great wealth of knowledge has not expired. Often times, they move out of active participation in the industry or academics and function as consultants. Don't be afraid!
- I can only speak for myself. I retired at 59. Raymond W makes some very good points about saving and investing. It is very good advice.
- It depends on what kind of engineer you are if you have an important job you get payed allot of money but usalluy engineers can retire early if they've made enough
- Firstly, I suggest you start by reading the book, "the millionaire next door". If you read that book you will see that your ability to retire (which is directly proportional to your wealth) is a function not only of your income, but also of your ability to save income and make it work for you. I know several engineers who make very decent salaries but which hardly have a penny saved because they can't control their spending. Now, as a population, engineers do tend to be more frugal than most. I know many engineers that apply their logical engineering minds to their investments and, like myself, can consistently outperform the market. Having this skill is essential if you want to retire early, but it is by no means what they teach you in engineering school. Finally, you have to take into account the "burn out" factor in engineering. The work can get tedious, and it takes effort to keep up with the technology. Many engineers give up on the profession and "retire" into other occupations. So, really, whether an engineer retires early or not depends more on their spending habits and outlook on life than whether they are an engineer or not.
- Only if they are fortunate enough to work for the state or a city (great benifits & pay). If they work for a consulting engineering firm (low pay & few benifits) they will be working until they drop.
