Do you want to retire early? Retiring early can seem like a lot of idle time, but it’s not. Think of it as “buying” back your time. You might be wondering why you’d want to retire early, sitting back and not working.
Much to the surprise of many who enjoy their work, retiring early isn’t a bad idea at times. There are many ways that you can embrace an early retirement. If you have the stability of income to do it, retiring as early as possible can be a great idea.
Below are the Big Three. The three reasons you really should try to retire early if you can afford it. And with some free financial advice Perth, you definitely can. Just click here!
First, realize the simple fact that time is finite and no matter how much money you have, you can’t buy it back once it’s spent.
Working so hard and so long, you miss out on things. You miss crucial moments in the life of your children. You lose track of what it felt like to have a partner’s presence. Money is something you can always earn more of if you can find the ways. Time, though? That’s a limited resource.
Spending your younger years working also means you’re spending most of your prime years not enjoying life. When you’re 60 or older, you’re not anywhere near as capable of enjoying your bucket list as you would have been in your 30s.
Retirement doesn’t mean being idle. You can still work on what you love to do while being retired.
People who love their work can still do it, even after retiring. Early retirement gives you the chance to work and pursue what you love to do, not what makes you more money. Profitability is less of a concern if you have the financial security needed to support how you live your life.
Retirement doesn’t mean idle. You can retire and still do your old job if you happen to love it. You could work fewer hours or be a consultant, passing your expertise on to others. You might decide to spend your time on investments, too.
Finally, if you’ve planned right and don’t waste it, it’s actually quite difficult to run out of money.
You need to have a solid, reliable retirement plan. It has to be something that generates its own income, possibly with some input from you. A retirement fund that’s static isn’t a good idea since it grows smaller each time you tap it. One that accrues interest is superior.