Many people are now working toward retiring early to enjoy some of the great advantages of early retirement.
When you think about retirement, what vision comes to mind? Some people think of this period of time as their opportunity to travel while others simply imagine a weight lifted off their shoulders as they no longer have the burden of working full-time to pay the bills. You may envision yourself lounging in your favourite chair, flipping through the television channels with nothing to worry about other than what you’ll order out for dinner. Maybe your vision shows you fulfilling a dream that you had to limit to a hobby or give up entirely earlier in life.
You may have resigned yourself to the fact that this vision doesn’t get to play out in reality until you’re at least 55 years old, but that doesn’t have to hold true for you. More and more people are now working toward an earlier retirement, and there are some advantages to doing so.
Less Stress, Better Health
Work is a major source of stress for most people. Even if you enjoy your job or spent years building a fulfilling career, there are major sources of stress in any profession. When you retire early, you save your mind and body years of side effects that come from that constant stress. You have the freedom in retirement to do more of the things that relax your mind and body, and your body will repay you with better health.
More Time to Chase Dreams
is the period of life where you have the time and freedom to do what
you want rather than what others expect of you. When you reach this
phase of life early, you have more years to enjoy that freedom and to
chase those big dreams. Plus, early retirement allows you to tackle
those big life goals with a younger mind and more agile body. You’ll
make progress toward your goals much faster, delivering greater success
in a shorter period of time.
Who says that retirement is for old people? It’s more of a lifestyle than an age, especially now that a growing percentage of workers cannot afford to retire at the traditional age of 55. When you get to this lifestyle earlier in life, you can work toward self-directed goals that bring personal fulfilment to your world.
More Freedom to Invest
Something amazing happens when you’re no longer focused entirely on growing your retirement fund. One of the great advantages of early retirement is that you can start thinking of ways to invest your money solely to grow wealth. You’re already retired, so your goal isn’t to live independent of your employer any longer. Your goal is to simply invest your money in a manner that excites you and pays off in the long term. You may find that you now take more risk with your investment, or you may simply try new strategies that wouldn’t worked well when planning for retirement.
Peace of Mind
This is perhaps the biggest of the advantages of early retirement, and it’s one that should serve as motivation as you strive to make retirement come as early as possible. You don’t have to worry about what you’ll do when you get older. You don’t have to watch your pension pot build slowly and question what age you’ll be when you have enough to retire. You can step into your later years of life feeling secure and self-reliant. This is incredibly freeing on a mental and physical level, and it’s what makes early retirement worth the time and hard work that you put in early on.
Are you getting excited to start your journey towards early retirement? You can enjoy all of these advantages and many more if you build a retirement business that can sustain your financial obligations long term. The Utility Warehouse offers a simple scheme that is flexible and rewarding, so consider building a business that brings your vision of retirement into reality in the near future.