Facing Early Retirement as a Firefighter? Here's How to Be Ready

If you're a firefighter, chances are you're thinking about retirement much sooner than your neighbors who work in more traditional careers. Whether you're just starting your firefighting career or are well into it, the reality is that firefighters often face mandatory early retirement. And while you may love what you do, the physical demands of the job—and the laws governing it—mean your career will likely end earlier than you expect. So, how do you make sure you're financially prepared to enjoy life after the firehouse? Let's break it down.

Retirement Ages: What Firefighters Need to Know

Depending on where you're serving, the rules around firefighter retirement can vary, but one thing remains consistent: early retirement is the norm. Here's a quick snapshot of how retirement ages play out in different areas:

Massachusetts: In Massachusetts, a state law (Chapter 415 of the Acts of 1987) says firefighters can’t stay on the job past the last day of the month they turn 65. While exceptions are rare, this means your days in uniform are numbered the moment you hit your mid-60s.
Federal Wildland Firefighters: The federal government requires Wildland firefighters to retire by age 57, assuming you’ve put in at least 20 years of service. And if you’ve hit 25 years of service, you can retire even earlier—at any age.
Local Fire Services: It’s not uncommon for fire departments across the country to require retirement as early as age 50. The work is demanding, and while we all like to think we’ll be in top shape for decades, the truth is that firefighting takes a toll on your body.

Early Retirement—Whether You Like It or Not

Whether you're climbing ladders or battling wildfires, being a firefighter is not a career most people can or want to do into their later years. That’s why so many firefighters are faced with retiring at an age when their friends and neighbors are still building their careers. At first, this might sound like a dream—you’ve spent decades serving your community, and now you can relax. But early retirement isn’t just a vacation from work; it’s a financial transition that requires thoughtful planning.

Why FIRE Matters for Firefighters

Here’s where it gets interesting: since most firefighters have to retire earlier than people in other professions, the principles of Financial Independence, Retire Early (FIRE) could be your best friend. FIRE is all about saving and investing aggressively while you’re young so you can retire early and have the financial freedom to enjoy life on your terms.

Even if your pension kicks in, you’ll still want to make sure that you’re prepared for the lifestyle you want. Whether that means traveling, starting a second career, or simply enjoying your free time without money worries, planning for this transition is key.

How to Prepare

If you’re serious about making the most of your early retirement, here are a few things to think about:

Maximize your savings now: While you’re still working, contribute as much as you can to retirement accounts like your 401(k), IRA, or any other savings plans. The more you can sock away now, the easier it will be to relax later.
Take a hard look at your pension: Depending on your location, your pension might be enough to live on comfortably, or you might need additional savings. Talk to a financial planner to figure out how your pension fits into the bigger picture. 👋
Consider other income streams: Think about what you might want to do after you retire. Would you be interested in consulting, teaching, or even starting a business? Having a game plan for generating income during your early retirement years can take the pressure off.
Invest smartly: If you’re aiming for financial independence, it’s crucial to have your investments working for you. Whether it's real estate, the stock market, or other vehicles, building passive income will give you more freedom to enjoy retirement.
Plan for healthcare costs: Since you'll be retiring early, healthcare might be an unexpected cost. Make sure you have a strategy for covering medical expenses, especially if you're retiring before you're eligible for Medicare.

Your Next Move

The bottom line? Retirement is coming for every firefighter, and it’s coming sooner than for most people. The good news is that with smart planning, you can be ready. Whether you retire at 50, 55, or 65, there’s life—and adventure—after the firehouse. The key is to take control of your finances now, so when it’s time to hang up the helmet, you’ll have the freedom to live life on your own terms.

Want to get started on your retirement plan? Let’s talk. You’ve spent your life protecting others; now it’s time to protect your future.

The information provided in this article is for educational purposes only and is not intended as financial, tax, or legal advice. Every firefighter's retirement situation is unique, and it’s important to consult with a financial planner or tax professional to discuss your specific circumstances. Investment involves risk, and past performance does not guarantee future results. The retirement strategies discussed may not be suitable for all individuals, and reliance on any information provided herein is at the sole discretion of the reader.

Carlson Planning Company is a Registered Investment Advisor. The opinions expressed in this article are solely those of the author and do not constitute an endorsement of any particular investment strategy or product.