Retiring at age 37 to give back to the community

Many Americans are retiring earlier than they planned according to a report out earlier this year from Allianz.

The report found that 42% of survey respondents said they retired earlier than expected, and of that, most did so due to job loss or health reasons. Only 21% said they took the retirement plunge due to being financially ready earlier than they planned.

Skip Franklin falls into the latter category. In 2013, at age 37, after working more than a decade in the consulting industry, he decided to retire.

“I basically looked at it and said, ‘you know, there's a lot more to life than this,’” Franklin said. “I've made good money up to this point. I don't have to work right now if I don't want to, so I decided now is a good time to take a break.”

That break soon became full-time retirement. Now, he spends most of his time with family, friends, and volunteering.

“I live in a small place. I don't have fancy cars. I'm not married. I don't have kids,” he said. “I live on probably around $20,000 a year, and that doesn't really impact my investments that much.”

To hear Franklin’s story, hit the play button above.