Not retiring young in the sense of just quitting their jobs, but if someone has been saving for their own retirement already, then their parents pass away, shouldn’t it be pretty common for a lot of that inheritance to pass down to them? But it seems like most people still struggle to save enough to retire even if their parents have passed on.
What is the reason most people don’t retire at 55 or 60 assuming their parents have passed on by then? Do people not usually save enough for interest to cover a lot of the spending?
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It’s rare for both parents to die so young — losing both parents before the parents turn 65-70 is not that common now, especially among the classes who’d be able to save ample for retirement. Those are also the ones with less physically demanding jobs, access to better healthcare, more likely to eat healthy and exercise.
But I suspect the inheritance relatively young does probably happen a lot more than you hear about… people aren’t likely to brag about a big windfall, and many probably choose to allocate the money differently, such as buy a vacation house or fully pay for their children’s / grandchildren’s college vs. just retiring. And health insurance before Medicare is a HUGE consideration! But they may take a less demanding job, say leaving a law firm to join a non-profit as legal counsel or stop working crazy hours in hopes of a promotion, etc.
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