[quote=UCGal]FYI – you can retire at 50 in the private sector too – just takes a lot of saving/planning/debt reduction and a Live Below Your Means lifestyle.
I’m private sector and am working hard to retire at or before age 55.
I do have a private sector defined benefit pension that was frozen a decade ago, along with a private sector defined contribution “portable” pension that was frozen a few years ago and is now underfunded and non-portable… They add up to a whoppin’ $400/month at age 60. Obviously the bulk of my income stream will be from savings.
Check out http://www.early-retirement.org/forums/ and http://earlyretirementextreme.com/
Lots of non-public employees retire at or before the age of the OPs neighbor. It’s a choice to be frugal and get out early.[/quote]
I don’t think anyone will disagree that you can reitre at 50 in the private sector. It’s just much harder and you can’t live the same life style as you could have with the public sector pension. Beyond that, people who get public sector pension can also live below their means during the working years, save, plan, debt reduction and they’ll have a decent savings on to of the pension as well.
