One of the ways in which you can optimize your work life is by opting for a job with an early retirement. Getting a clear idea of what early retirement means, how to achieve it and most importantly where to find one will help you achieve a fulfilling career.
You’ve heard that you can have it all. Your career, your relationship, and an early retirement. But realistically how many people are able to achieve the trifecta. So is it possible to achieve the trifecta? Heck ya! I hope you enjoy reading about my journey with early retirement and what I learned about myself along the way.
Careers with early retirement
Entrepreneurship is often the ultimate goal for many of us. Following your dreams, working for yourself and maybe even retiring at a young age. But what does that really mean? What does it take to make this dream a reality? We do a lot of research on entrepreneurial topics here at AGFI, but it’s often hard to give our readers insight into what this life actually looks like. Today, I’m going to share one example from my life and what it looks like to pursue entrepreneurship as a means to early retirement.
Starting a business is a huge undertaking, but consider this as well. With the right plan and execution, starting your own business can lead to early retirement.
Early Retirement. It’s what many of us want, but very few of us can achieve — or so we think. There are plenty of ways to retire early and beat the average U.S. retirement age of 63 years old, as well as learn about the financial implications of early retirement for your own finances and for tax planning purposes.
Making extreme retirement your primary goal makes sense. If you’re that ambitious. The goal is well-defined, and it doesn’t re
quire a majority of luck or effort to attain.
If you intend to retire early while saving enough money to do so, the most important aspect of this process is picking a field or career path that is financially rewarding. In the past it was mostly the primary objective of doctors and surgeons as they would see their income steadily increase over time, allowing them to retire comfortably without worrying about losing all their savings. Thanks to technology, we now have many careers where salaries are going up quickly making it easier than ever to reach your early retirement goals.
Early retirement is a dream for many, but it takes a lot of things to fall into place for that dream to become reality. With the right career, saving up just a little bit every month can go a long way.
Having talked with hundreds of people who have opted to retire very young, it’s clear that the prestige and paychecks that come with a high-powered career aren’t necessarily the secret to happiness. If you’ve put much thought into how you want to spend your time after retirement, you’ll find plenty of freedom awaiting you once you do hang up your shoes for good.
For me, the right number is $1M. This was the approximate amount that was in my 401K when I left the workforce. That said, I still had a very comfortable lifestyle with income between two and three times the national median household income and no monthly bills (yes, all this from retirement savings alone). There are lots of ways to get to $1M of retirement savings; it may happen sooner for you or later. Only you know where you are along your path and what milestones you’re shooting for.
Having all the money in the world is not worth sacrificing a healthy and rewarding life. If you have the entrepreneurial spirit, putting your time and effort into a business of your own could be one of the most lucrative moves you’ll ever make. You can have fun, make money, and retire early while still in your fifties. Sounds like a pretty sweet deal to us.
I can’t say I don’t want to do this. In fact, it seems like the ideal way to go about working for me. And although I’m not retired yet, I plan on enjoying my time here in Colombia as much as possible and taking full advantage of the opportunity. Your turn; what’s your idea of a life well spent?
