Does your current job make you leap out of bed every morning with enthusiasm? If not, why not retire early?
Is the career that you’re currently building your personal definition of passion? If it doesn’t get you excited and light you on fire with physical and mental energy, then you should be focusing on early retirement just as much as you focus on advancing that career. Retirement allows you the freedom to do things that will give you that magical enthusiasm for life.
Yes, there are people who leap out of bed with that vigour for life. No, they aren’t the rich and famous, and they haven’t all had piles of money handed to them. They watch their pension pot build just like you. Many once worried that they would never have enough in that pot to retire. The catch is that they found a way to make early retirement work so that they could take that whirlwind cruise with someone special or spend their days hitting golf balls and sipping drinks on the beach.
How does one make early retirement happen? Many people think of retirement solely as an accounting of the money that they have accumulated in their pension pot and the minimum age that they’re allowed to collect that money without financial penalty. It often comes down to one sad reality: most cannot afford to take that money until they’re 60 or even older because they simply haven’t saved enough to produce a reasonable retirement income.
The solution is to stop thinking solely in
terms of the pension pot scheme. Start thinking of ways that you can
move toward retirement without touching that pot. This is when you
really develop the mind of an entrepreneur who can legitimately retire
early without sacrificing a comfortable quality of life.
Here are some plans that have successfully helped many other people retire early:
The best strategy is perhaps a combination of all three options. Start by cutting down your expenses and living frugally so that you can afford to contribute a bit more to your retirement pot. Start a business that gives you more flexibility and that allows you to work on your own terms. When your business starts to bring in a little money, consider working part-time so that you have more time to grow that business. Perhaps you can move into a seasonal position that gives you longer blocks of time to work on your business.
The key to a plan like this is to start a business that gives you more freedom. If you take action in that direction, you may be surprised at how fast you start earning more money, saving more money, and spending more time doing the things that you love. It won’t happen unless you take action. The earlier you start, the earlier you can live the dream of early retirement.
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