Is it normal to keep thinking of retiring around the age 40-45 as I feel its a waste of time to spend it on working? Just wish to have a carefree life, eg wake up naturally, exercise,accompany family?

Carefree life after a birth can become meaningless and boring

I think if you don't have dependents and outstanding debt, it's a path worth exploring. Creating the space in your life could lead you to monetising your passions in a way you would not have expected if you were working.

It's all up to individual. Most importantly is to stay active physically and mentally.

I am around the same age as you and I have similar plan, except that I don't plan to stop working. I just want the option to stop working if I want to or have to.

I do enjoy working mostly and I like feeling productive. But as we get older, we need to take care of our health and we start to cherish our time with our loved ones.

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For 40K annual expenses, 1 mil of liquid asset just needs to generate ~4% of income. It's highly doable. I'd say it's a good plan, keep going, and you can decide if you want to retire when you reach your target :)