Retire early is possible for people who is ready with everything, including how they can fills their daily needs. Although retire early is a choice, we can prepare that from now so we don't have to wait for a long time to retire. If we can retire at forty or fifty, we can enjoy our life without keeps busy with our works.
Many people are not ready to retire early because they don't prepare it while they are younger. Having an investment is a way to prepare our future so when we can make a profit from the investment and that is more than enough to fills our day and prepare our kids, we can retire early without thinks much. We must have a plan what we wants to achieve so we can start from now and still search for many ways to earn what we wants.
Bitcoin can helps us to retire early but we must have many Bitcoins that we can sell in the highest price. We can start to investing in Bitcoin and keeps it until the price increase so we can make a profit.
Topic: Is it still possible to retire early? - page 8. (Read 1703 times)
Retirement is what I deal with on a daily basis. Many advisors suggest you try and save around 15% of your current income (of course it all depends on your current age). Also, the goal should be to try and replace roughly 70-90% of your current annual salary. If you're towards the end of your career, that is, so that you may continue to live the same current level of lifestyle.
IF ANY of you actually give a shit about this topic, and truly what to better your financial situations, here's a fantastic link with some really good helpful financial tools. TRUST ME when I say this is worth anyone's time! Number 1, do you run a monthly budget at least once a year? If not, you NEED to be ( it's the first calculator on the page)- https://www.empower.com/learning_center/calculators/index.shtml#/
IF ANY of you actually give a shit about this topic, and truly what to better your financial situations, here's a fantastic link with some really good helpful financial tools. TRUST ME when I say this is worth anyone's time! Number 1, do you run a monthly budget at least once a year? If not, you NEED to be ( it's the first calculator on the page)- https://www.empower.com/learning_center/calculators/index.shtml#/
I want to add another thing that can really affect whether we can retire early or not: who we choose to be our life partner. It might be different in other places, but in my country, especially for my generation, a lot of people become the "sandwich generation." This means that on top of paying for our own lives, we also have to support our parents.
And honestly, some parents see their kids like investments, expecting them to pay them back once they start earning money. It's tough for some people to break free from that. So even if both partners work really hard, it can feel impossible to save for retirement because they're supporting so many people.
That's why it's super important to choose your partner wisely. Before getting married, have honest conversations about money and family relationships. And if you need to, don't be afraid to get a prenuptial agreement.
It's not something that worries me. In fact, when I retire I would like to continue doing things at my own pace, without any obligation, and that provide me with an income. Like playing poker or participating in signature campaigns, if that still exists when I retire. I can do it when I feel like it, quietly from my home, and on top of that it provides me with a small income. It's one thing I could do, as long as I stay sane, until I die.
Theres a whole community dedicated to this task as a necessity because of modern living denying people proper wages demanding too many hours and not letting them start families etc. The main requirement to achieve such a task is to have a good paying job but live like a pauper and deny any spending beyond basic food, cook your own for example and live as if you have no money always. Repay all debts and save into a house, even better learn to build your own etc.
That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job. They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.
That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job. They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.
Yep. The FIRE movement. (Financial Independence Retire Early)
https://www.investopedia.com/terms/f/financial-independence-retire-early-fire.asp
It is very possible to retire early but it is quite unusual. The richest men on earth are still busy trying to make more money, so who really wishes to retire? And like you see, the economy isn’t so good, so by the time you’ve made enough money to decide retirement, you have most likely grown old. In my opinion, People who retire early are people who started very very early.
Theres a whole community dedicated to this task as a necessity because of modern living denying people proper wages demanding too many hours and not letting them start families etc. The main requirement to achieve such a task is to have a good paying job but live like a pauper and deny any spending beyond basic food, cook your own for example and live as if you have no money always. Repay all debts and save into a house, even better learn to build your own etc.
That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job. They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.
That kind of humble attitude will get you to a possible early retirement if lucky but also I think of the cases I read people do continue to do light work after their early retirement from a main job. They consult or do some light contracting work that allows them to use up their tax code as best possible, stay liquid and secure long term.
Early retirement is actually still very possible but if indeed as long as we still want to live in luxury then indeed I don't think we will think about it from now on.
I think luxury isn't the word but more of comfortable living. But it's true that early retirement is still possible but we have to do what we think we should be in order not to stop the cash flow that we're having.Early retirement is not as easy as imagined especially for ages that are still productive enough to make money because after all, apart from our lives including old age that must be considered here we must also realize that every human being has a condition where they are never satisfied with something and of course with the power of money now even though we can still be happy even without money but when we don't have money then it is certain that we will suffer so that in order to keep it from experiencing setbacks in old age, especially for financial problems, we need to support it by working or building a business so that in this case retirement will clearly be hampered.
Well said, we're never satisfied with most of our current states and that's why even if we can retire too early and live a frugal or even a comfortable life, we won't do that. With how prices of everything goes up rapidly, we just can't stop working. I agree about the idea of retiring but in a way that they'd still some resources and cash flow keeps going on them. That's the kind of retirement that everyone loves, there's still money goin in to them while they're receiving pensions, shares, dividends and other source of income that they're able to set the foundation while they are young.We have all in common and we'd say to those that are capable of retiring early, it's just a matter of how you prepare for it. So, while many of you are still young, don't do the mistakes of many old workers that they have not planned for it. They only relied on their pension and now with cost of goods going up continuously as inflation is hitting us all badly, you need to scatter your money and make them work for you as long as you live.
It is possible to happen. Though all the planning and investing is one of the factor to consider here. Mostly in the first world country, people can have their early retirement due to their economic advantages, sadly to say for us belongs to the 3rd world country, one possible option is really to invest in different investments, meticulous planning, consistent approach to goal and study more to gain more knowledge how to manage the money effectively. We have our own, investments are not a hype in our country, a very few are willing to invest. As long my countrymen eat 3 times a day, we are ahappy about it, even doing the 9-5 job till our retirement age.
Coming from a first world country doesn't mean anything, you can still end up in a bad investment. There are companies that has folded this year and has gone bankruptcy and not because the investors didn't do adequate research before they made the investment but because the company run into some complications and it was beyond them and because they couldn't continue, they have to shut it down and pay out investors probably without interest.
There could be cases of scams, many scammers hide under many of this so called retirements plan because they see weakness and eagerness from people who tend to make investment plan for their life.
Yes, absolutely possible. I did it a year and a half ago at age 58.5
The key was having everything paid off (including my house) to be totally debt free. (my net worth statement has no liabilities)
I invested heavily in my company 401(k) as well as maxing out a Roth IRA and making regular contributions to a regular brokerage account.
I lived (and continue to do so) well below my means and did my best to avoid lifestyle creep.
I use credit cards, but the statement balance is paid in full every month to avoid interest charges.
Part of the key was to turn my shopping addiction into purchasing stock in good companies rather than the products they make.
I'm happier owning Tesla, Ferrari, Porsche, and Stellantis rather than the vehicles they produce. My newest vehicle is a used 2015 Nissan Leaf.
So far my investments are earning and growing faster than I am spending the money to live.
Crypto has also been very very good to me - but it is icing on the cake. I don't require it to live, but it does provide a massive safety margin.
The key was having everything paid off (including my house) to be totally debt free. (my net worth statement has no liabilities)
I invested heavily in my company 401(k) as well as maxing out a Roth IRA and making regular contributions to a regular brokerage account.
I lived (and continue to do so) well below my means and did my best to avoid lifestyle creep.
I use credit cards, but the statement balance is paid in full every month to avoid interest charges.
Part of the key was to turn my shopping addiction into purchasing stock in good companies rather than the products they make.
I'm happier owning Tesla, Ferrari, Porsche, and Stellantis rather than the vehicles they produce. My newest vehicle is a used 2015 Nissan Leaf.
So far my investments are earning and growing faster than I am spending the money to live.
Crypto has also been very very good to me - but it is icing on the cake. I don't require it to live, but it does provide a massive safety margin.
It would be possible if you have enough money to support your lifestyle and needs, you have to have enough passive income in order to retire at an early age, let your money work for you in order to survive while enjoying life, they should also consider where to live when they decide to retire, they should know if they could afford the cost of living vs their income.
But I guess this would only be applicable for single people, those who have family or kids would surely need to work for their kids future, so early retirement would be hard for them.
But I guess this would only be applicable for single people, those who have family or kids would surely need to work for their kids future, so early retirement would be hard for them.
In summary, early retirement is a choice. The global economy is making it difficult to achieve it, but we can still try our best to plan toward enjoying it by saving, investing, and healthy living.
In my estimation early retirement is a choice if you leave in an economy that is already developed. In an economy where the government actually cares for her citizens and have been able to provide the basic and amenities for them. But if you leave in an economy that is still developing early retirement will only be a wish. Because you can't retire early and have it going good for you. In this type of economy you have to work twice as hard to even erk out a good living for yourself and while you are at it retiring early would be the last thing on your list. That is why you should do work that you love, take time out to relax, eat healthy, invest no matter how little even while you are actively working. Working until the duration of any worker, is just base on you have passion to the job and you loving working there until you are aged for the service you render to the company or government, so for me I have not seen anything wrong if someone retired voluntarily, their people retired in work because they have been offered another job somewhere else, so retirement is base on condition.
It's quite a possibility to retire early with investment in ones portfolio and a steady income or dividend being received regularly and with other incentives like vacations and tourism just to keep the mind young and active.
All this would have to be made possible with a clear and intelligent investment choice and with Bitcoin offering a better chance for investors who don't have real estate or gold as investment, and with Bitcoin also being a currency of the future, it would pay double to understand the intricacies of trading cryptocurrency as well as how to keep it safe and earn profit from it.
The best option to retire early is in how much financial education we can comprehend and put to practice currently.
All this would have to be made possible with a clear and intelligent investment choice and with Bitcoin offering a better chance for investors who don't have real estate or gold as investment, and with Bitcoin also being a currency of the future, it would pay double to understand the intricacies of trading cryptocurrency as well as how to keep it safe and earn profit from it.
The best option to retire early is in how much financial education we can comprehend and put to practice currently.
Early retirement is actually still very possible but if indeed as long as we still want to live in luxury then indeed I don't think we will think about it from now on.
Early retirement is not as easy as imagined especially for ages that are still productive enough to make money because after all, apart from our lives including old age that must be considered here we must also realize that every human being has a condition where they are never satisfied with something and of course with the power of money now even though we can still be happy even without money but when we don't have money then it is certain that we will suffer so that in order to keep it from experiencing setbacks in old age, especially for financial problems, we need to support it by working or building a business so that in this case retirement will clearly be hampered.
But if you are sure enough with what you have now even though it is still productive age I think if you want to retire early then it can still be done. But I personally will not do that because I realize my journey is still long and do not want to stop at this age.
Early retirement is not as easy as imagined especially for ages that are still productive enough to make money because after all, apart from our lives including old age that must be considered here we must also realize that every human being has a condition where they are never satisfied with something and of course with the power of money now even though we can still be happy even without money but when we don't have money then it is certain that we will suffer so that in order to keep it from experiencing setbacks in old age, especially for financial problems, we need to support it by working or building a business so that in this case retirement will clearly be hampered.
But if you are sure enough with what you have now even though it is still productive age I think if you want to retire early then it can still be done. But I personally will not do that because I realize my journey is still long and do not want to stop at this age.
I thought you not the worker set out his retirement time but the employer. And all countries government have their retirement date for all their workers. And that is why those who joined the civil service work retired late in the old age. Those who joined late sometimes work till at the age of 70s but normally I'm my country retirement age is 65 years. Because at time your not smart again so you are to rest and receive your retirement benefits at home. And they was a time the government was planning to reduce the years and I don't k ow if they have reduced it to 55 years because I am not part of them so I won't know.
You can only spelled out your retirement age if you are self-employed and not working for anyone because the person must have a say over you.
You can only spelled out your retirement age if you are self-employed and not working for anyone because the person must have a say over you.
It’s possible but you must be more prepared for this because retirement is not just about having money, retirement means doing the things that you want and if you’re ready for that, challenges might still be there. I also want to retire early, but my family depends on me so I think I want to save more not just for my own retirement but also for my family so I can still support them even if I’m no longer active in working. Having a good financial status can be a big help, make sure to plan everything before you retire.
Depends on your monthly savings. If you own a business or working in a high salary job, yes it is possible. Also mind that you don’t necessarily have to get retired in your home country. The world offers lots of other places that are suitable for retired people. For example many US citizens live their retirement life in the Philippines. It is because the Philippines is cheap compared to the US.
Just save whatever you can while you are young and eventually you will be sitting on a pile of assets which will be enough to keep you alive for decades.
Just save whatever you can while you are young and eventually you will be sitting on a pile of assets which will be enough to keep you alive for decades.
This trend is actually happening in our country too, many retirees from the west end up living here because the cost of living is cheaper and there are also many interesting vacation spots here, just imagine with only $100 you can survive for a month here (already including the cost of renting a house and food), I admit that those from western countries are very lucky because they get a pension that can be used to survive in a country where the cost of living is cheap, in contrast to those from poor or developing countries. I think make your current job something you like and can guide your life in the future so that you don't have thoughts of retiring early.
Retirement never crossed my mind, but I must retire. We have never thought about these things the way we think about family or the way we think about it. A day goes by, and we face a difficult life, overcoming our problems, but life will not go like this. We have to retire, but we dare not think about it.
Meanwhile, my parents are getting old, and I never thought I would retire. When you think about all the family members, life goes on like this, but the days pass, and the body's strength decreases. That's why I am preparing from now on how to spend the days after retirement well. That's why I'm trying to save. It will gradually become helpful in my life.
Meanwhile, my parents are getting old, and I never thought I would retire. When you think about all the family members, life goes on like this, but the days pass, and the body's strength decreases. That's why I am preparing from now on how to spend the days after retirement well. That's why I'm trying to save. It will gradually become helpful in my life.
I have heard people talk about retiring early and I usually see it as unnecessary. But as I begin to grow older it is beginning to make sense to me. Growing up and education took me like twenty years, and I might work for another thirty-five years. So, it is expected that I will retire at the age of fifty-five.
Now it is important to note that the desire to retire early is personal because some people don't want to rest early. I just think I need to have some time to do this. I am passionate about, and in some cases, most of them are not for profit making. I also need time to explore books and learn about many things. I desire to rear domestic animals and plant some crops. I just want to be free from this rat race and modern-day slavery. Life is too short to be wasted only on work.
But with the economic condition of some countries, people are scared of retirement. Retirement benefits can hardly feed a family for two years because of inflation. Before, now retirement benefits could sustain a family for up to ten years if it was well managed. But this is not the case today. It is common to see retirees still working actively to survive. Seeing elderly men engaging in energy-consuming jobs because of harsh economic conditions is always painful.
Regardless of these economic woes I still believe that there are still ways to retire early. I have considered a few steps on how to plan for early retirement. They are not new but I wanted to remind us.
-Budgeting: If you don't have a good financial plan you better consider having one. It helps you to know when to reduce or increase your income and expenditure. Recently we had to cut the cost of buying imported cereals and replacing them with cheaper locally produced ones. We had to start spending money on a keyboard teacher because the children needed to learn music. It is not a basic need but we have to make provision for it. Budgeting will help you spend within your means.
- Saving: It is very difficult to save money in this period of economic breakdown. What you earn is not even enough to cover the cost of your needs, so having extra is not just possible. You might not be able to save a huge amount monthly but just try and save a little. I was saving $10 monthly from my salary, and I continuously did it for about two years. You might say I just saved $240, but the truth is is at least I have a backup fund. So from that, you have little income, no matter how small, keep saving some.
-Alternative sources of income: In some countries, getting a job is a big problem, so you can hardly get more than one job. The economy is also affecting businesses negatively, many firms in my country have gone bankrupt. Going back to school to get a relevant qualification, which has a high tendency to give you a job with a higher pay, is good. Learning a new skill that can help you meet a need in your location is also fine. Starting a business with available funds can bring profits. The point I am making is that you should use any available opportunity you have for another income source. But this is not an excuse to overwork yourself; your total well-being is more important.
-Investment: If you are considering early retirement, then you should have a system that brings money even when you are not working. Some people have built that will give them money for as long as they live. I know of many people whose income from their farms can sustain them for like. Some people were able to own properties that they rented and make money. Some persons have shares, patents, or royalties in some profitable organization. People will always say the forum promotes Bitcoin but the currency is another good investment. One can add Bitcoin hodling to his retirement plan because it is profitable.
-Healthy Living: Many retirees spend their savings on medical bills. Sometimes, these illnesses are unpredictable, but we should also do our best to prevent them. We should eat healthy, avoid harmful practices that endanger our health, exercise, and rest. A healthy retiree greatly enjoys his retirement life because he is strong and spends less.
In summary, early retirement is a choice. The global economy is making it difficult to achieve it, but we can still try our best to plan toward enjoying it by saving, investing, and healthy living.
Now it is important to note that the desire to retire early is personal because some people don't want to rest early. I just think I need to have some time to do this. I am passionate about, and in some cases, most of them are not for profit making. I also need time to explore books and learn about many things. I desire to rear domestic animals and plant some crops. I just want to be free from this rat race and modern-day slavery. Life is too short to be wasted only on work.
But with the economic condition of some countries, people are scared of retirement. Retirement benefits can hardly feed a family for two years because of inflation. Before, now retirement benefits could sustain a family for up to ten years if it was well managed. But this is not the case today. It is common to see retirees still working actively to survive. Seeing elderly men engaging in energy-consuming jobs because of harsh economic conditions is always painful.
Regardless of these economic woes I still believe that there are still ways to retire early. I have considered a few steps on how to plan for early retirement. They are not new but I wanted to remind us.
-Budgeting: If you don't have a good financial plan you better consider having one. It helps you to know when to reduce or increase your income and expenditure. Recently we had to cut the cost of buying imported cereals and replacing them with cheaper locally produced ones. We had to start spending money on a keyboard teacher because the children needed to learn music. It is not a basic need but we have to make provision for it. Budgeting will help you spend within your means.
- Saving: It is very difficult to save money in this period of economic breakdown. What you earn is not even enough to cover the cost of your needs, so having extra is not just possible. You might not be able to save a huge amount monthly but just try and save a little. I was saving $10 monthly from my salary, and I continuously did it for about two years. You might say I just saved $240, but the truth is is at least I have a backup fund. So from that, you have little income, no matter how small, keep saving some.
-Alternative sources of income: In some countries, getting a job is a big problem, so you can hardly get more than one job. The economy is also affecting businesses negatively, many firms in my country have gone bankrupt. Going back to school to get a relevant qualification, which has a high tendency to give you a job with a higher pay, is good. Learning a new skill that can help you meet a need in your location is also fine. Starting a business with available funds can bring profits. The point I am making is that you should use any available opportunity you have for another income source. But this is not an excuse to overwork yourself; your total well-being is more important.
-Investment: If you are considering early retirement, then you should have a system that brings money even when you are not working. Some people have built that will give them money for as long as they live. I know of many people whose income from their farms can sustain them for like. Some people were able to own properties that they rented and make money. Some persons have shares, patents, or royalties in some profitable organization. People will always say the forum promotes Bitcoin but the currency is another good investment. One can add Bitcoin hodling to his retirement plan because it is profitable.
-Healthy Living: Many retirees spend their savings on medical bills. Sometimes, these illnesses are unpredictable, but we should also do our best to prevent them. We should eat healthy, avoid harmful practices that endanger our health, exercise, and rest. A healthy retiree greatly enjoys his retirement life because he is strong and spends less.
In summary, early retirement is a choice. The global economy is making it difficult to achieve it, but we can still try our best to plan toward enjoying it by saving, investing, and healthy living.
It is definitely possible to retire early with a slightly above average wage and an entrepreneurial hustler mentality. There can be so many money making opportunities out there, but it requires jumping on the opportunity while it's there - sometimes it can disappear quickly. Lots of people work really hard and then fritter away money very quickly - either by overpaying for goods, doing things like buying delivery food every night which is super expensive or buying big ticket items which leaves them with nothing to spare. If you build up an investment portfolio over decades, it can be possible to retire in your 40's or 50's with proper focus.
It can still possible to retire early. Achieving early retirement requires careful financial planning & disciplined saving & investing. It means making smart choices with money like living below your means, minimising debt & maximising savings & investments. It may involve reducing expenses & increasing income through side hustles or other streams of income but early retirement is a realistic goal for those who are willing to make sacrifices, prioritise financial independence & consistently work towards their retirement goals.
Yes it is true that we can still seek early retirement, but before the stage that this you must do we need to raise income first as a cash flow fund, because if this plan is to be achieved the flow of funds is very important for a smooth and accelerated target of money as the next life support and we can claim ourselves that we can be in an early retirement position. Because investing without a large cash flow and clear money management has big money will be very difficult to achieve, so the main focus first is to have many sources of income as a means or a way to achieve early retirement.
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