Here’s What It’s Like to Retire in America at Age 55 or Younger
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,736,779 (+1.11%)       Melbourne $1,057,340 (+0.67%)       Brisbane $1,151,226 (+0.91%)       Adelaide $1,015,559 (-0.31%)       Perth $1,005,131 (+1.51%)       Hobart $796,466 (+0.04%)       Darwin $882,186 (+3.28%)       Canberra $964,108 (-3.09%)       National $1,143,418 (+0.66%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $795,054 (-0.05%)       Melbourne $519,602 (-0.44%)       Brisbane $725,709 (+0.28%)       Adelaide $576,859 (+0.27%)       Perth $556,364 (-0.30%)       Hobart $539,090 (+1.17%)       Darwin $431,601 (-3.46%)       Canberra $496,653 (+1.87%)       National $602,168 (+0.09%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 12,039 (+174)       Melbourne 12,993 (-35)       Brisbane 7,289 (-39)       Adelaide 2,335 (-40)       Perth 5,251 (-17)       Hobart 827 (+11)       Darwin 144 (+1)       Canberra 937 (+12)       National 41,815 (+67)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,101 (+9)       Melbourne 6,848 (-50)       Brisbane 1,320 (-17)       Adelaide 358 (+2)       Perth 1,221 (-32)       Hobart 171 (+4)       Darwin 244 (+4)       Canberra 1,120 (+13)       National 20,383 (-67)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $580 ($0)       Brisbane $670 ($0)       Adelaide $630 (-$10)       Perth $700 ($0)       Hobart $600 (+$8)       Darwin $750 ($0)       Canberra $690 (-$10)       National $685 (-$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 (-$10)       Melbourne $599 (-$1)       Brisbane $650 ($0)       Adelaide $535 (+$8)       Perth $650 (-$25)       Hobart $460 (-$5)       Darwin $595 (-$5)       Canberra $570 ($0)       National $612 (-$6)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,374 (-74)       Melbourne 7,632 (-176)       Brisbane 3,997 (+12)       Adelaide 1,498 (-8)       Perth 2,385 (-46)       Hobart 156 (-18)       Darwin 100 (+7)       Canberra 417 (-34)       National 21,559 (-337)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 7,991 (-97)       Melbourne 5,949 (-41)       Brisbane 1,977 (-78)       Adelaide 411 (-13)       Perth 729 (-25)       Hobart 70 (-7)       Darwin 149 (+12)       Canberra 680 (-44)       National 17,956 (-293)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.40% (↓)       Melbourne 2.85% (↓)       Brisbane 3.03% (↓)       Adelaide 3.23% (↓)       Perth 3.62% (↓)     Hobart 3.92% (↑)        Darwin 4.42% (↓)     Canberra 3.72% (↑)        National 3.11% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 4.91% (↓)     Melbourne 5.99% (↑)        Brisbane 4.66% (↓)     Adelaide 4.82% (↑)        Perth 6.08% (↓)       Hobart 4.44% (↓)     Darwin 7.17% (↑)        Canberra 5.97% (↓)       National 5.28% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 2.0% (↑)      Melbourne 1.9% (↑)      Brisbane 1.4% (↑)      Adelaide 1.3% (↑)      Perth 1.2% (↑)      Hobart 1.0% (↑)      Darwin 1.6% (↑)      Canberra 2.7% (↑)      National 1.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.4% (↑)      Melbourne 3.8% (↑)      Brisbane 2.0% (↑)      Adelaide 1.1% (↑)      Perth 0.9% (↑)      Hobart 1.4% (↑)      Darwin 2.8% (↑)      Canberra 2.9% (↑)      National 2.2% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 26.8 (↑)        Melbourne 27.0 (↓)       Brisbane 29.6 (↓)       Adelaide 24.7 (↓)       Perth 34.3 (↓)       Hobart 27.7 (↓)       Darwin 25.7 (↓)       Canberra 26.9 (↓)       National 27.8 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 27.1 (↓)       Melbourne 27.4 (↓)       Brisbane 29.3 (↓)       Adelaide 26.8 (↓)       Perth 34.5 (↓)       Hobart 26.7 (↓)     Darwin 31.3 (↑)      Canberra 39.7 (↑)        National 30.4 (↓)           
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Here’s What It’s Like to Retire in America at Age 55 or Younger

Retirees open up about their finances and how they spend their time.

By ANNE TERGESEN AND VERONICA DAGHER |
Mon, Mar 31, 2025 2:46pmGrey Clock 7 min

Ask people when they expect to retire and they are likely to say age 65. But that is not how it usually plays out.

Some stay at their jobs into their 70s and 80s, and many hang it up far earlier. About one in five retirees reported leaving a career at age 55 or younger, according to the Employee Benefit Research Institute, below the median retirement age of 62.

Early retirement doesn’t look much like the polished social-media posts made by “ financial independence, retire early ” influencers. Many retire early because they lose interest in their jobs or lose them altogether. Some want to reduce their stress or pursue hobbies. Others need to take care of aging relatives. It is common to pick up a part-time job.

Retiring early often means more free time to enjoy good health and grandchildren. It also means having to make savings last longer. And early retirees must wait for benefits such as Social Security and Medicare to start.

“The decision to retire early should be carefully considered, as the impact can be very significant” said Craig Copeland, director, wealth benefits research at EBRI.

We spoke with five retirees about how they are making it work:

Mike Judd retired a decade before he initially planned.

The 58-year-old resident of Lansing, N.Y., was the head of a 50-person pharmacy department at a health system with two hospitals. After leadership changes, he was feeling sidelined.

“All of a sudden I was the oldest guy in the room,” said Judd, who felt “covert ageism.”

After the pandemic hit, he worked round-the-clock navigating drug shortages and overseeing the procurement of vaccines. The burnout cemented his decision to retire in 2022.

His pension and the financial support of his wife, Bonnie Judd, 57, made the decision easier. She is also a pharmacist and has a steady paycheck, with dental and health insurance.

“I wouldn’t be retired today without her,” said Judd.

For years a do-it-yourself investor, Judd hired a financial adviser before leaving his job and began saving the maximum amount allowed in his employer’s 401(k)-like plan. He was already saving the limit in his IRA. Getting a thumbs-up from the adviser gave him confidence to retire.

His pension hands him $20,000 a year pretax. He puts the after-tax proceeds into one of two brokerage accounts that together hold $800,000.

He and Bonnie have $1.5 million in retirement accounts. They plan to claim Social Security at 67, when they’ll get $6,800 a month. Bonnie’s pension will be about $60,000.

The Judds earn $195,000, down from a peak of $300,000.

That includes income from his part-time work. He works one day a week as a pharmacist. For a few days every couple months, he inspects medication storage rooms in prisons for a company that supplies inmates with prescription drugs.

“It gets me out of the house and gets my brain moving,” said Judd, who wants to avoid his parents’ main retirement activity, watching TV.

The first few months of retirement were a shock. “For the first time in 35 years, I didn’t have to be someplace at a specific time,” he said.

He took a cross-country road trip with a friend and relearned the art of hanging out, something he hadn’t done much since high school. A bass guitarist, Judd joined a band. He spends time with his baby granddaughter and recently rebuilt an outdoor staircase.

The couple spend about $154,000 before taxes, have no debt and own their house outright. Expenses include $50,000 annually for federal, state and local taxes. They spend $2,000 a month for groceries. Last year, they put $35,000 into home repairs, including a new furnace. He hopes their cars, ages seven and 10, will hold up.

The Judds plan to go to Vancouver this summer and might eventually move south, where their son lives and the cost of living is lower.

Jim Lee realized he had saved enough to retire by age 54, and took that as a sign it was time. Because he was living below his means, he figured the longer he worked, the more he would end up leaving the charities in his will.

Lee, now 60, was a vice president at a health research and consulting nonprofit. His unit used mathematical models to forecast the impact of cancer therapies and advise clients where to open medical facilities.

As he entered his 50s, he found it increasingly stressful. “You’re either bringing money in or laying people off,” said the Chelsea, Mich., resident.

Before leaving his job in 2018, Lee consulted a financial adviser who said he was in good shape.

Lee and his former wife divorced in 2022, dividing their $4.5 million in assets.

He met Susan Buyaki, 56, in 2023. The two live together but keep their finances separate. Buyaki, a social worker, plans to work several more years.

Soon after retiring, Lee enrolled in accounting classes at a local college and volunteered to do free tax returns for an AARP program. He is now the program’s coordinator in Michigan, where he oversees more than 100 sites and works three days a week during tax season.

“It’s a dream job,” he said. “I don’t have to worry about revenue.”

Lee also serves on the boards of a food bank, an Ann Arbor folk music venue and a cycling club.

He has $2.2 million, including $1.1 million in a traditional IRA; $757,000 in a Roth IRA; and $142,000 in a health-savings account, which permits tax-free withdrawals for medical expenses.

He splits his portfolio evenly between stock and bond index funds.

When interest rates rose in late 2022, Lee put $200,000 into an immediate annuity that pays him $1,150 a month. He has $300,000 in Treasury inflation-protected securities maturing over the next three decades, given the longevity in his family.

He plans to claim Social Security at age 70, when his monthly benefit will be around $4,500.

Lee spends about $65,000 a year.

He takes about $57,000 from his traditional IRA and supplements that with tax-free Roth withdrawals. That keeps his taxable income low enough to qualify for health insurance premium subsidies under Obamacare. He pays $85 a month for a plan with an $8,000 annual deductible.

His $5,500 monthly budget includes a $1,600 mortgage payment. He and Buyaki each put $1,000 into an account for utilities, property taxes and groceries. He set aside $100,000 for long-term care.

Lee and Buyaki recently bought a $500,000 house on 10 acres. If egg prices remain high, they might buy chickens.

After more than 33 years as a structural firefighter in California’s Sacramento County, Troy Simonick was ready to retire. “All those years of helping people on their worst day finally caught up with me,” said Simonick, who retired at 51.

Gone are the 48-hour shifts. He no longer misses Christmas.

Now 55, the retired fire captain lives in a one-story home in Foresthill, Calif., in the foothills of the Sierra Nevadas. On weekdays, he reads, goes on walks with his two dogs and tends to his two cats.

His property has nearly 100 trees, so there is always yardwork to do, especially after a windy day. Wildfire season is nerve-racking, even for him. He has had to evacuate once so far.

His wife, Joy Simonick, still works for the county education department but plans to retire this year.

The couple met online and married more than five years ago. Troy’s three adult sons are independent, which made leaving Sacramento easier. The couple keep their finances largely separate but share a joint account for some household expenses and travel.

Troy has saved about $270,000 for retirement in an employer-sponsored 457(b) retirement plan. He wishes he had more, but lost almost all of his savings when he divorced at 40, he said. Joy has about $70,000 saved for retirement and stands to receive a pension of about $2,000 a month, plus Social Security.

Troy has a nearly $8,300 monthly pension after taxes. His healthcare is largely covered by the fire department, but he is responsible for dental and vision coverage. He bought long-term-care insurance when he was around 30 and pays about $80 a month in premiums.

The couple spend roughly $6,000 a month, about $2,800 of which goes to their mortgage. Home insurance is a rising expense they are worried about. Last year, he paid about $3,600 through the Fair Plan, California’s insurer of last resort . This year, he is expecting to pay around $5,000.

Troy is trying to see how many audiobooks he can listen to in a year (100 total so far in retirement). He occasionally meets up with other retired firefighters for breakfast.

He occasionally contemplates a part-time job. If he did get one, he would like to help people when they are happiest.

“Maybe I’ll become a bartender on a beach,” he joked.

Wes Weiner, a retired Army Colonel, had a near 32-year career that included deployments to Bosnia and Morocco. He retired as an inspector general at 55. Shortly beforehand, he experienced severe complications from a flu shot, resulting in slurred speech and balance problems.

Now 71, he is almost fully recovered. He exercises three to four hours daily. On most days, he walks about two hours, usually with a rescued Australian Shepherd. He volunteers approximately 10 hours a month as a board member with various military organizations.

He and Ida Weiner, who have been married for more than 40 years, bought a home in San Antonio for about $940,000 in cash about two years ago. Their home came with two koi ponds.

Ida retired from the Army at 43 as a major and a combat veteran. She took a break for around four years, then spent about six years as a civilian senior intelligence analyst. She retired again at 54.

Now 68, she spends around four hours daily in their garden. She has also taught swimming to children and seniors, taken up strength training, volunteered with foster children and raised funds for animals.

“As a retiree, ​​I have no regrets,” she said.

The couple spend about $100,000 annually on travel. They also spend roughly $93,000 a year on household expenses such as property taxes. They invest about $94,000 annually in limited liability companies in which they are partners.

They have no debt. They have roughly $350,000 in after-tax income, including military pensions, disability payments, Social Security and income from their LLC investments. They also have about $1 million saved in individual retirement accounts, about $2.5 million invested in individual stocks and stock funds and an additional roughly $1.25 million in LLCs.

The Army paid for their healthcare when they retired before 65. Once they reached 65, they filed for Medicare as their primary healthcare insurance and Army insurance became their secondary coverage.

Since they have no children, Wes is worried about what would happen to Ida if she needs care after he dies. Two years ago, Wes paid about $40,000 to put their names on the wait list of a continuing-care community in Texas.

They have arranged their wills to provide for close relatives and favorite charities.

Meanwhile, they are seeing the world. Wes has spent more than 600 days on cruises since retiring, and Ida has spent about 300. Wes is planning a 40-day cruise from West Africa to Lisbon.

“Travel now because no one is promised tomorrow and your health can change in the blink of an eye,” he said.



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In a Sea of Tech Talent, Companies Can’t Find the Workers They Want

A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.

By CALLUM BORCHERS
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There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.

What gives?

U.S. colleges more than doubled the number of computer-science degrees awarded from 2013 to 2022, according to federal data. Then came round after round of layoffs at Google, Meta, Amazon, and others.

The Bureau of Labor Statistics predicts businesses will employ 6% fewer computer programmers in 2034 than they did last year.

All of this should, in theory, mean there is an ample supply of eager, capable engineers ready for hire.

But in their feverish pursuit of artificial-intelligence supremacy, employers say there aren’t enough people with the most in-demand skills. The few perceived as AI savants can command multimillion-dollar pay packages. On a second tier of AI savvy, workers can rake in close to $1 million a year .

Landing a job is tough for most everyone else.

Frustrated job seekers contend businesses could expand the AI talent pipeline with a little imagination. The argument is companies should accept that relatively few people have AI-specific experience because the technology is so new. They ought to focus on identifying candidates with transferable skills and let those people learn on the job.

Often, though, companies seem to hold out for dream candidates with deep backgrounds in machine learning. Many AI-related roles go unfilled for weeks or months—or get taken off job boards only to be reposted soon after.

Playing a different game

It is difficult to define what makes an AI all-star, but I’m sorry to report that it’s probably not whatever you’re doing.

Maybe you’re learning how to work more efficiently with the aid of ChatGPT and its robotic brethren. Perhaps you’re taking one of those innumerable AI certificate courses.

You might as well be playing pickup basketball at your local YMCA in hopes of being signed by the Los Angeles Lakers. The AI minds that companies truly covet are almost as rare as professional athletes.

“We’re talking about hundreds of people in the world, at the most,” says Cristóbal Valenzuela, chief executive of Runway, which makes AI image and video tools.

He describes it like this: Picture an AI model as a machine with 1,000 dials. The goal is to train the machine to detect patterns and predict outcomes. To do this, you have to feed it reams of data and know which dials to adjust—and by how much.

The universe of people with the right touch is confined to those with uncanny intuition, genius-level smarts or the foresight (possibly luck) to go into AI many years ago, before it was all the rage.

As a venture-backed startup with about 120 employees, Runway doesn’t necessarily vie with Silicon Valley giants for the AI job market’s version of LeBron James. But when I spoke with Valenzuela recently, his company was advertising base salaries of up to $440,000 for an engineering manager and $490,000 for a director of machine learning.

A job listing like one of these might attract 2,000 applicants in a week, Valenzuela says, and there is a decent chance he won’t pick any of them. A lot of people who claim to be AI literate merely produce “workslop”—generic, low-quality material. He spends a lot of time reading academic journals and browsing GitHub portfolios, and recruiting people whose work impresses him.

In addition to an uncommon skill set, companies trying to win in the hypercompetitive AI arena are scouting for commitment bordering on fanaticism .

Daniel Park is seeking three new members for his nine-person startup. He says he will wait a year or longer if that’s what it takes to fill roles with advertised base salaries of up to $500,000.

He’s looking for “prodigies” willing to work seven days a week. Much of the team lives together in a six-bedroom house in San Francisco.

If this sounds like a lonely existence, Park’s team members may be able to solve their own problem. His company, Pickle, aims to develop personalised AI companions akin to Tony Stark’s Jarvis in “Iron Man.”

Overlooked

James Strawn wasn’t an AI early adopter, and the father of two teenagers doesn’t want to sacrifice his personal life for a job. He is beginning to wonder whether there is still a place for people like him in the tech sector.

He was laid off over the summer after 25 years at Adobe , where he was a senior software quality-assurance engineer. Strawn, 55, started as a contractor and recalls his hiring as a leap of faith by the company.

He had been an artist and graphic designer. The managers who interviewed him figured he could use that background to help make Illustrator and other Adobe software more user-friendly.

Looking for work now, he doesn’t see the same willingness by companies to take a chance on someone whose résumé isn’t a perfect match to the job description. He’s had one interview since his layoff.

“I always thought my years of experience at a high-profile company would at least be enough to get me interviews where I could explain how I could contribute,” says Strawn, who is taking foundational AI courses. “It’s just not like that.”

The trouble for people starting out in AI—whether recent grads or job switchers like Strawn—is that companies see them as a dime a dozen.

“There’s this AI arms race, and the fact of the matter is entry-level people aren’t going to help you win it,” says Matt Massucci, CEO of the tech recruiting firm Hirewell. “There’s this concept of the 10x engineer—the one engineer who can do the work of 10. That’s what companies are really leaning into and paying for.”

He adds that companies can automate some low-level engineering tasks, which frees up more money to throw at high-end talent.

It’s a dynamic that creates a few handsomely paid haves and a lot more have-nots.

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