What comes to your mind when you think about early retirement? Do palm trees and salty breezes come to your mind? How about traveling the world on a private yacht or parasailing in the Caribbean? Or sitting around the house just waiting on death? Or limitless shopping at your local Hobby Lobby or Foot Locker? What if I told you it’s none of the above or all of the above for some!
When I tell my family, friends, and coworkers about my plans to retire by the ripe ole’ age of 45 or sooner, they must envision me propping my feet up, waking up late, and just doing the things I love…hunting, fishing, boating, etc…They inquisitively ask questions like, “What are you going to do with all of that time?” “How much money do you need?” “How are you going to afford to retire at age 45?” or the dumbass question of “You’re not old enough to retire?” Next time you are around the “baby boomer” generation, mention early retirement and watch how pissed some become!! Most can’t fathom a 25 or 35-year-old person retiring from the workforce!
People don’t understand that early retirement isn’t time to give up work, hobbies, saving, or investing. Retirement isn’t the time to run away on limitless vacations worldwide or spend everyday recreating or shopping. Early retirement should consist of a “transition time” when you go from full-time structured employment to a part-time work structure. This part-time employment will cover the necessities and may even allow you to continually invest in your portfolio to keep increasing your mailbox money supply!!
Retirement has many meanings, but “early” retirement, for most, would be a hybrid form of part-time work that I enjoy. Again, to reiterate, I wouldn’t stop working, but I would begin working the hours I desire!
I have developed a strategic plan that I will discuss in the next few posts about how much money you need to retire, part-time opportunities, and how you can still save and invest while using a systematic approach to this dynamic subject of “early retirement”!
Stay tuned, comment and subscribe,