Times are-a changing. They always are. Less than a century ago, the financial depression of the 1930s brought many lives to a standstill. People were so desperate for money that they were willing to work for a pittance and were willing to do that at any age. To them, retirement would have meant the end of all things. But things have changed since, and today, people are retiring while still in their 30s. Is this a passing trend? Is it good or bad? And… most important of all, is it possible for you?
We have come a long way away from the days of The Great Depression. Money is no longer limited to a few creative (lucky) minds. Financial literacy is starting to be taught in school, learned on the streets, and practiced at home. Thanks to the emergence and popularity of the internet, financial gurus are sharing little-known insights with the everyday person. Today, we understand more about investment opportunities, asset management, loans, etc., than our immediate ancestors could have dreamed of.
This growth in knowledge is helping many youngsters retire early. Some of the ideas they follow to make their dream come true are:
- Don’t waste money on living an extravagant life now! Save every chance you get.
- Invest carefully
- Maintain budgets
- Be strict on yourself
- Constantly remind yourself that the sacrifices you make today are to help you gain your freedom a decade early
- Don’t take any expenditure lightly
- Don’t be led by trend lines that are not designed to stand the test of time
The idea of retiring when still in your 30’s is a radical one. But if we were to shed our negative stance for a moment, doesn’t it sound like an incredible plan? Retire when you are still young, spend time with your family and travel the world. Note: this is not about becoming stingy and boring or out of touch with the world. This is about becoming responsible and careful now, so that our future selves can reap the vast benefits.
This is just a tiny snippet of everything you need to know. It’s all the space I was allowed for this guest post. If you’d like to know more, you’re very welcome at our website (here).
Author: Fraser at Fire The Boss – a website dedicated to helping people gain more control over their money (and their lives).