With so many pressures around, understanding why someone would want to retire early doesn’t take too much thinking. It only takes a bit of empathy. When you take into account that we today have doubled the productivity of 1950’s workers, but are without half of their leisured lifestyle, the thought of retirement being out of your reach for another 10, 20 or 30 years seems so depressing. There’s also another way of looking at things, by reflecting upon what have you achieved in your career so far and evaluating whether your hard work actually paid off.
The way our society is set up, people are constantly under pressure and wasting their life in a meaningless quest for more, while they should really focus on getting the best out of what they already have. Here we will examine some points which could help you save money and ultimately retire early.
1. Be car-free
Car industry is a joke and has been for quite some time. They will keep milking the money off poor consumers for gas, extras and spare parts and if you or one of your close relatives isn’t a car mechanic or an oil oligarch, the costs of maintaining a car over a period of several decades could amount to over a million dollars! The money you could save from not owning is significant when looking into any retirement plan.
2. Live in central areas and in a smaller home
Living within the walking distance of any place of interest like work, a movie theatre, a shopping mall or a library brings many advantages. Large homes with gardens and backyards are nice, but not in the practical terms. If you really want to save huge amounts of money, living in an RV may be an option. However, settling for a small but convenient apartment should also help you save money on utility bills. Wherever you choose to settle, you should make an effort to live optimally and within reason.
3. Health matters
You don’t need a doctor, an internet blog or anyone else out there to tell you health is the most important aspect of living. Every human being ideally wants to live healthy and be fit. When you think of it in financial terms, investing in your health appears more important than ever. If you relocate and live within walking or cycling distance from all the relevant points of interest, get a bike and use it as often as possible. Retiring in US with bad health can and will be costly for any individual, so staying fit, eating healthy and giving up on alcohol and cigarettes should be a priority. There are no last minute deals for life extension.
4. Plan realistically and short-term
We all want to do something big in life, but setting up realistic goals in a shorter timeframe is more fulfilling because we won’t get hugely disappointed if something doesn’t go our way. If there is an item or appliance in your home you haven’t been using lately, consider getting rid of it for cash.