I know many people like their jobs (so I’ve heard), and that many feel they cannot afford to retire , and some –like me-were brought up to believe that the only way to justify your existence on this planet is by being a productive human being=going to work every day rain or sun and “being like everybody else”.
I used to like my job too. But now I am tired . I have seen everything there is to see in my field, and I’ve climbed up the ladder, I’ve dealt with the most difficult situations, I’m now a boss of people, and I’m tired.
I drive to work every day in the early hours (check my post on why I get up at 4 am) , put my beloved pink floyd-led zeppelin-deep purple and hope the day at the office goes fast so I can go back home.
My days are -from my point of view- a waste of time and energy, which both I believe I can put to better use.
So I sat down and asked myself some difficult questions:
*Is working for 10 /more years a valid option?
*can I manage cutting down a big slice of my expenses?
*is there another way to save real money quickly?
I knew the answer to the first question, I wasn’t really sure about the other 2.
So I started researching online and reading books on the subject of early retirement, and the more I read the more I understood there was no magic involved , as always, only hard work will get me to where I want to be.
I understood that if I wish to retire early and give my children the head start I want to give them, then I need to cut down my expenses drastically and invest the money in a “non risky but profitable enough to see some results way”.
But there was a caveat-a basic rule of thumb I’ve found : with all due respect to my savings ratio –if I feel deprived in any way then this is not only not worth the whole deal but it will not hold on for a long time anyway so what’s the point?
I believe the main thing to remember is that wishing to retire early demands you not only get used to living on a moderate budget for a while– sort of clenching teeth for a year or two before you arrive at the gates of financial paradise. this way of thinking will leave you hanging dry 2-3 years after you’ve retired early and might even result in you having to go back to work after having retired. I’m thinking this can take a quite a tole on you both mentally (assuming you do not wish to work again) and monetarily speaking (the tax imposed on you will be significantly higher).
So the key here in my opinion -just like many other important and positive life changes you make -is to embrace the change acknowledging that this is a permanent change.
Just like a dietary change, fitness decisions, and other behavioural changes concerning you or your loved ones, a successful change is a gradual, mindful and consistent one.
please remember I am speaking here from my own experience only- I am not a specialist on physical/ mental/monetary issues .please look at my disclaimer post.
What I can share with you is my personal experience . I have now reached a level where I save most of my salary , and feel very happy –and even indulgent doing so.
more details next time- the cooliflower.