30 Best Jobs If You Want To Retire Early

Firefighters put out a fire
Even if you love your job, it's hard not to dream of early retirement. The reality, however, is that many Americans are forced to work past the traditional retirement age of 65 due to a number of factors including longer life expectancy, stagnant wages, and a lack of jobs that a retirement plan offers to guarantee income in retirement . Lots of people just won't be able to save enough to comfortably retire before 65 - they should have saved over $ 1 million regardless of your state, according to another GOBankingRates study. However, some jobs offer better chances of early retirement than others.
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GOBankingRates identified the best jobs for those looking to retire before 65 by looking at the age of the people in each occupation, the average employer contribution 401 (k) per hour worked, the average salary, and the average retirement assets of a person in that occupation would have saved in a 401 (k) through early retirement age 62. If you are looking to retire early, these are the best jobs if you want to retire rich.
Retiring Early: Retiring So Early: A Complete Guide
Last updated: December 23, 2020
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30. Mechanical engineers
Average percentage of people who believe they will continue to work over 65: 58%
Average annual wage: $ 91,500
Estimated savings of 401 (k): $ 574,743
If you want to know how to retire early, consider getting a job as an engineer. Mechanical engineers earn a high average salary compared to most of the other jobs included in this study, so they have more income to spend on a 401 (k).
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29. Kindergarten and early school teachers
Average percentage of people who believe they will continue to work over 65: 16.9%
Average annual wage: $ 57,110
Estimated savings of 401 (k): $ 358,727
About 61% of early childhood educators plan to retire by the age of 62. This is the occupation with the fifth highest percentage of workers who want to retire early - and the third highest percentage of workers who want to retire by the age of 65 - compared to any other occupation on this list. Overall, kindergarten and other early-stage teachers are the fifth most confident about their financial retirement compared to people employed in the other professions on this list.
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28. Insurance sales professions
Average percentage of people who believe they will continue to work over 65: 37.9%
Average annual wage: $ 66,990
Estimated Savings of 401 (k): $ 420,787
Employers of those in insurance sales pays an average 401 (k) hourly contribution of $ 2.47 - linked to another job for the fifth highest average hourly contribution.
Psychologist listens to the woman
27. Psychologists
Average percentage of people who believe they will continue to work over 65: 27.8%
Average annual wage: $ 82,770
Estimated savings of 401 (k): $ 519,907
Although more than half of psychologists (56%) plan to work after the age of 62, less than a third plan to continue working after the age of 65.
Special education teacher with pupil
26. Special education teacher
Average percentage of people who believe they will continue to work over 65: 25.5%
Average annual wage: $ 62,640
Estimated savings of 401 (k): $ 393,463
Most special education teachers plan to retire early. Only 44% of respondents say that they plan to work beyond the age of 62.
Industrial engineers review plans
25. Industrial engineers
Average percentage of people who believe they will continue to work over 65: 49.8%
Average annual wage: $ 90,340
Estimated savings of 401 (k): $ 567,457
The average salary of an industrial engineer is higher than the average salary of most of the other jobs included in this study. If these engineers add just 3% of their salary to their 401 (k) and receive a 50% employer match, they will have saved over half a million dollars by the age of 62.
male high school teacher with students on laptop
24. Secondary school teacher
Average percentage of people who believe they will continue to work over 65: 21.7%
Average annual wage: $ 62,730
Estimated Savings of 401 (k): $ 394,029
As with kindergarten and special education teachers, most secondary school teachers plan to retire early. Only 44% of those questioned stated that they wanted to work after the age of 62.
Housekeeper works
23. Insurance specialists, examiners and investigators
Average percentage of people who believe they will continue to work over 65: 28.3%
Average annual wage: $ 66,250
Estimated savings of 401 (k): $ 416,139
As with insurance sales jobs, insurance adjustment jobs typically receive a high employer contribution of 401 (k) with an average contribution of $ 2.47 per hour - tied to the fifth highest employer contribution for the occupations included in this study.
Portrait of bearded expert explaining construction details to workers while taking measurements. All wear reflective orange vests and hard hats.
22. Inspectors and Compliance Officers
Average percentage of people who believe they will continue to work over 65: 19.3%
Average annual wage: $ 71,540
Estimated savings of 401 (k): $ 449,367
Only 35% of inspectors and compliance officers expect to work after the age of 62. The job has the fourth highest percentage of employees looking to retire early compared to the other professions on this list, and the fifth highest percentage of employee inspectors and compliance officers are the third most confident that they are compared to those in the retire financially in other professions on this list.
A group of software developers who sit at desktop computers and focus on their work.
21. Computer programmers, support specialists and administrators
Average percentage of people who believe they will continue to work over 65: 38.5%
Average annual wage: $ 87,530
Estimated savings of 401 (k): $ 549,806
Although most computer programmers - 56% - plan to work past the age of 62, only about 39% plan to work past the age of 65.
Learn: 5 Technical Skills Everyone Should Learn To Grow Their Careers
Consultant advising clients on business meeting.
20. Financial services sales professions
Average percentage of people who believe they will continue to work over 65: 64.3%
Average annual wage: $ 97,440
Estimated savings of 401 (k): $ 612,054
Those who sell financial services earn less than six figures on average. The high salary that comes with this profession makes building a healthy nest egg on a 401 (k) account easy.
young accountant helping retired seniors
19. Accountants and auditors
Average percentage of people who believe they will continue to work over 65: 28.4%
Median annual wage: $ 77,920
Estimated Savings of 401 (k): $ 489,442
About 71% of accountants and accountants plan to retire by the age of 65. 39% plan to retire by the age of 62.
Business team at a morning briefing; Business meeting and presentation in a modern office.
18. Management analysts
Average percentage of people who believe they will continue to work over 65: 41.4%
Average annual wage: $ 93,440
Estimated savings of 401 (k): $ 586,929
Most management analysts plan to retire by age 65 and 44% plan to retire early by age 62.
Electrical engineer reads measuring devices
17. Electrical engineer
Average percentage of people who believe they will continue to work after 65 years: 40%
Average annual wage: $ 99,580
Estimated Savings of 401 (k): $ 625,496
Electrical engineers have a high average salary and therefore a higher estimated saving of 401 (k) by age 62 compared to those in the other occupations included in this study.
The team of computer engineers lean against the desk and select circuit boards to work on. The computer shows the current programming.
16. Mathematicians and computer scientists
Average percentage of people who believe they will continue to work over 65: 22.9%
Average annual wage: $ 90,460
Estimated savings of 401 (k): $ 568,211
Most mathematicians and computer scientists - 64% - plan to retire early by the age of 62. By the age of 65, around 77% plan to retire.
Civil engineer supervising a construction site
15. Civil engineers
Average percentage of people who believe they will continue to work over 65: 22.4%
Median annual wage: $ 91,790
Estimated savings of 401 (k): $ 576,565
About half of all civil engineers plan to retire by age 62, and the majority plan to retire by age 65.
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14. Post-secondary teachers
Average percentage of people who believe they will continue to work over 65: 36.7%
Median annual wage: $ 82,880
Estimated Savings of 401 (k): $ 520,598
For each hour of work, post-secondary teachers typically receive employer contributions of $ 3.18 to their 401 (k). This is the fourth highest average contribution amount compared to the other professions included in this study.
Learning: This is how much teachers earn in every state
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13. Medical and health professions managers
Average percentage of people who believe they will continue to work over 65: 33.8%
Median annual wage: $ 111,680
Estimated Savings of 401 (k): $ 701,501
Those who work at the managerial level in the medical and health sectors make nearly $ 112.00 per year. With that salary, the average person with this job can retire by age 62 with over $ 700,000 in savings in 401 (k).
Three ecologists in casual clothing explore the lake and take a water sample.
12. Physical scientist
Average percentage of people who believe they will continue to work over 65: 14.3%
Average annual wage: $ 88,470
Estimated Savings of 401 (k): $ 555,711
Most physicists assume that they will retire before the age of 65 and even before they reach the age of 62. Only 27% of respondents say that they plan to work beyond the age of 62. It is the occupation that has the highest percentage of people expected to retire early and the second highest percentage of people expected to retire by the age of 65. Overall, physicists have the greatest confidence in the financial opportunity to retire when compared to people in the other professions included in this ranking.
Three firefighters put out a house fire.
11. Fire fighting, prevention and inspection
Average percentage of people who believe they will continue to work after 65 years: 50%
Average annual wage: $ 52,560
Estimated savings of 401 (k): $ 328,263
Firefighters benefit from generous employer contributions to old-age provision. The employers' average 401 (k) hourly contribution is $ 5.83 coupled with another job for the second highest average contribution for all jobs included in this study.
School administrator with children at the bus stop
10. Managers in education and related fields
Average percentage of people who believe they will continue to work over 65: 26.1%
Average annual wage: $ 95,270
Estimated savings of 401 (k): $ 598,424
About half of employees who work as managers in education and related fields plan to retire early by the age of 62. By the age of 65, around 74% plan to retire.
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9. Lawyers and judges
Average percentage of people who believe they will continue to work over 65: 61.3%
Median annual wage: $ 137,660
Estimated Savings of 401 (k): $ 864,690
Lawyers and judges have the fifth highest average salary compared to the other professions included in this study. Thanks to the high salary associated with these positions, individuals in this occupation have the fifth largest estimated 401 (k) savings by age 62 when compared to individuals in the other occupations included in this study.
The aircraft maintenance mechanic inspects and tunes the aircraft engine in a hangar.
8. Aircraft mechanics
Average percentage of people who believe they will continue to work over 65: 23.3%
Average annual wage: $ 62,540
Estimated Savings of 401 (k): $ 392,835
For aircraft mechanics, the average hourly employer contribution is 401 (k) $ 5.13 - tied to another job for the third highest average contribution compared to the other jobs in this study.
Admission of a pharmacist who supports a customer in a pharmacy.
7. Pharmacist
Average percentage of people who believe they will continue to work over 65: 11.7%
Median annual wage: $ 121,710
Estimated savings of 401 (k): $ 764,503
Most pharmacists assume they will retire early. Only 30% of the respondents stated that they would like to continue working after the age of 62. Of the jobs on this list, it has the second highest percentage of employees who want to retire by age 62. It also has the highest percentage of employees who want to retire by age 65. Pharmacists have the second highest confidence in financial retirement when compared to the other types of employees in this ranking.
Two police officers who work hard to ensure justice, keep the peace and make the country safer try to beat a man down with a baseball bat in his home.
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6. Police and detectives
Average percentage of people who believe they will continue to work over 65: 22.1%
Median annual wage: $ 62,960
Estimated savings of 401 (k): $ 395,473
Two thirds of the surveyed police officers and detectives plan to retire by the age of 62. Of the jobs on this list, it has the third lowest percentage of people who want to work after age 62. It is also the fourth most trusted job of employees to financially retire.
A major perk to police and detectives ability to retire early is the high 401 (k) average employer contribution. The average hourly fee associated with fire fighting is the second highest employer contribution compared to the other professions included in this study.
Contractor electrician.
5. Electricians, electricians and repairers
Average percentage of people who believe they will continue to work over 65: 19.1%
Median annual wage: $ 57,910
Estimated savings of 401 (k): $ 363,753
Less than a fifth of electricians plan to continue working after the traditional retirement age of 65. This is the fourth lowest percentage of workers willing to work after age 65 compared to the other jobs on this list. It is also the most generous employee contribution 401 (k) job with an average contribution of $ 6.52 per hour.
Shot of a young businessman giving a presentation to his team in a modern office.
4. Finance manager
Average percentage of people who believe they will continue to work over 65: 43.8%
Average annual wage: $ 143,530
Estimated Savings of 401 (k): $ 901,562
Of all the jobs included in this ranking, finance managers earn the third highest average salary and have achieved the third highest estimated savings of 401 (k) by age 62. It should be noted, however, that the average finance manager will save less than $ 1 million, which could explain why 69% of those in this position plan to work past the age of 62.
Doctor dentist shows patient's teeth on x-ray.
3. Dentists
Average percentage of people who think they will keep working after 65 years: 75%
Average annual wage: $ 180,010
Estimated savings of 401 (k): $ 1.13 million
Dentists earn the second highest median salary of any jobs included in this study, making them the second highest estimated savings of 401 (k). By the age of 62, the average dentist has saved more than $ 1 million in their retirement account.
Couple after consultation in the doctor's office.
2. Doctors
Average percentage of people who believe they will continue to work over 65: 64.2%
Average annual wage: $ 214,700
Estimated savings of 401 (k): $ 1.35M
Doctors have the highest median salary of any occupation on this list and the largest estimated savings of 401 (k). By the age of 62, many doctors will have a nest egg large enough to take early retirement.
commercial airplane pilots fly at sunset
1. Airplane pilots, navigators and air traffic controllers
Average percentage of people who think they will keep working after 65 years: 25%
Median annual wage: $ 138,690
Estimated Savings of 401 (k): $ 871,127
When it comes to early retirement jobs, the airline's pilot takes the top spot. Airline pilots earn the fourth highest average salary compared to any other job included in this ranking, and they also have the fourth highest estimated 401 (k) savings by age 62. Additionally, the average hourly employer contribution 401 (k) is $ 5.13, which is the third highest value when compared to any occupation in this study.
The sweet senior couple explore the Pacific Northwest together on a day hike.
Should You Retire Early?
Before deciding to retire, it's important to take stock of your finances and assets - including your home, investments, 401 (k), IRA, Social Security income, and other incomes - and decide if you really are have enough money to support yourself for the rest of your life.
Although most people now retire without a pension, a guaranteed income throughout retirement is the best financial safety net you can have. It's worth noting that many of the best early retirement jobs are still tied to retirement, which explains why many people in these professions plan to retire early without paying at least $ 1 million in their 401 (k) Dollars to be saved.
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Methodology: GOBankingRates identified the 30 best early retirement jobs by analyzing 50 jobs based on the following factors: (1) The average percentage of people who believe they will continue working after 62 and 65 comes from EDU research data from the University of Michigan in 2015. This data was used to measure employee confidence in retirement in various occupational fields. (2) average contributions to retirement benefits obtained from 2017 Bureau of Labor Statistics Employer Compensation data; (3) Average salaries based on the Bureau of Labor Statistics occupational data from May 2017; and (4) average retirement assets in a 401 (k) assuming an employer contribution of 50 percent is the same as an employee contribution of 3 percent (the national average), provided the individual retires at 62 and starts at 35 Years to invest with a return of 6.5 percent. The estimated savings of 401 (k) were calculated using SmartAsset's 401 (k) calculator. Each individual category was rated, and the ratings were added together to identify the best early retirement jobs. The average percentage of people who think they will retire has been multiplied by 0.5 so this category is not weighted as heavily as the others. This research was conducted on March 7, 2019.
This article originally appeared on GOBankingRates.com: 30 Best Jobs If You Want To Retire Early

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